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Just wait until it drops, most people will not be able to cash out until it is likely worth nearly othing. There will be no automatic breaks (I think) that usu

Just wait until it drops, most people will not be able to cash out until it is likely worth nearly othing. There will be no automatic breaks (I think) that usually happen on large stock market drops. I think it may be technically possible for Bitcoin to drop 90% in a single day and with most people unable to sell at any price if they want it settled on the block chain. It could be Armageddon with nearly everyone holding bitcoint getting wiped out. That MtGox guy should sell his billion of bitcoin soon, like right now. It is a hot potato right now and I wouldn't want to be left holding the bag with things go south. I was a student in the first dotcom bubble and it was similar to this. And people predicted it would drop and then it did drop and basically wiped out the whole tech sector for nearly 3 years.

laichzeit0 9y ago
> There will be no automatic breaks (I think) that usually happen on large stock market drops This is a very, very good thing. There are no breaks going up, therefore there should be no breaks going down. What's even better is that Bitcoin is 24/7 so there's not even the option of "waiting for the train to stop" when you're trying to get off.
- bhouston 9y ago
  The breaks are there to stop panic selling. That is something that was intensional and learned from the 1987 stock market crash.
  - laichzeit0 9y ago
    Then there should equivalently be breaks to stop panic buying, not so?
    - bhouston 9y ago
      They are for both directions: https://en.wikipedia.org/wiki/Trading_curb https://en.wikipedia.org/wiki/Trading_curb The trading curbs are incredibly important because if there is false information and everyone rushes to the exit, people can be wiped out in the panic and then find out the next hour that nothing was true. With bitcoin there will likely be settlement issues for days after a crash. It will be messy as hell.
paulpauper 9y ago
I would love to buy at a 90% discount. I have some cash on the sidelines for that reason

laichzeit0 9y ago

> There will be no automatic breaks (I think) that usually happen on large stock market drops This is a very, very good thing. There are no breaks going up, therefore there should be no breaks going down. What's even better is that Bitcoin is 24/7 so there's not even the option of "waiting for the train to stop" when you're trying to get off.

bhouston 9y ago
The breaks are there to stop panic selling. That is something that was intensional and learned from the 1987 stock market crash.
- laichzeit0 9y ago
  Then there should equivalently be breaks to stop panic buying, not so?
  - bhouston 9y ago
    They are for both directions: https://en.wikipedia.org/wiki/Trading_curb https://en.wikipedia.org/wiki/Trading_curb The trading curbs are incredibly important because if there is false information and everyone rushes to the exit, people can be wiped out in the panic and then find out the next hour that nothing was true. With bitcoin there will likely be settlement issues for days after a crash. It will be messy as hell.

paulpauper 9y ago

I would love to buy at a 90% discount. I have some cash on the sidelines for that reason