Bitcoin Forum

Well, they say you learn by your mistakes...  I can tell you to never think that a stock (or Bitcoin in this case) can't go lower.  It can ALWAYS go lower.  Down to 50$, down to 10$, down to 1¢, end even lower.  I actually lost a few $ in stocks in the early 2000 in the telecom industry (well, that was mostly 'playing' money at the time for me but still, 2 grands gone up for used-to-be-50$-stocks that I thoughts would have bottomed at 1$, and 50¢, and 10¢, etc. ending up in bankruptcy).  Just think of the Nortel case for example...

So, if you go and buy because prices has lowered in the last few days, do it because you have a really good insight that there is reason for it to go up over long therm other than speculation.

That's the problem now, it's that Bitcoin is still held only be speculation, and it has no real backing economy yet other than some random companies here and there venturing in Bitcoins other than "another form of payment" added to their portfolio.  And, as opposed to gold, silver, and other tangible things that you can put aside (physically), for most of the people hearing about Bitcoins, it's still really too much "virtual" to be taken seriously (talking about newcomers hearing about Bitcoins for the first time).

if price is above $44 at the end of month (7/2013) then everything is ok.

Why didn't ! sell at $265!?

coz still learning...

Whoever had a chance to sell at 265 but didn't cause of greed should quit bitcoin forever or lose more money

Actually, I did sell at 200$+  However I did sell and bought back a few times along the way, so I could have made a lot more :-\  Ah, and I spent 65BTC at the time for my BFL SC I'm still waiting ::)  I consider myself lucky to have learned about Bitcoins when it was 8$ back in August last year (and invested at 13$ bubble (and held while BTC was floating at around 10$ for a while after that)).

Still made 10K$ profit, and even though I could have made a lot more, I feel happy with what I have got.  I still continue mining, but this has just come less and less profitable lately :(  And I don't hold Bitcoins for long, prefer to exchange for fiat regularly and cash out when I sum up to a good amount.  That last strategy hasn't been bad in the last few weeks considering that it went 130$, 120$, 110$, 100$ and now sub-90$ :-[

So, the point is, more and more people are starting to switch strategy, and forget hoarding altogether, and goes for dumping.  Who's still holding beside people who bought at 100$+?

I feel bad for Cyprus people who invested in BTC at 120$+

It can't go lower than $0 ::)

Well, let's assume Bitcoin dies completely, then the government can always come back after you to tax the profit you made, and now owe money...  so technically, the value could go lower than 0$ ;D

The reason it went up so hugely is because so few of us sold at that time.
People that sell after making a decent profit sold long before $ 265.  I mean, this bubble started at $10, if you are still holding after price goes x20, then chances are good you are still holding at x26 ...
I was actually planning on selling a large chunk of my coins the following week (based on media attention), but bubble popped sooner than I thought, probably everybody was thinking the same...

Umm, no, I don't think so. At these prices, I think I alone would be able to buy all of the bitcoins mined, and some more.

I agree with the original poster, even down to 1cent, there is YouTube video to show that it already happened. And yes it can happen again. But most people would rather ignore reality and have sort of wishful $1M value for their investments. Too many people in denial, like trying to talk sense into a bama supporter.

You can only be taxed on realized profits, it's not possible to go below whatever you invested.  If the value goes to $0 you can offset realized gains by realized losses.

This just in, Bitcoin can go any direction. It was already "dead" once.

Speculation forum = brain cancer

Yes, excatly. I need to remember this. I bought at $10. My brother was laughing at me for not selling at $200+, but then I reminded him that he told me to sell at $49 a few months ago! Had I listened to him I wouldn't even be hold at $92 now! I DID sell 50 coins at $200 but that was just a small drop in the bucket.

Well, then I guess I am roughly of in the same boat as you, I bought in slightly higher, sold a few of my coins at EUR 165.  Obviously, I should have sold a-helluva-lot more, and could have traded way better, but overall I am content with the outcome  :).

Because you should not have done so. You should have sold at 100/150/200/250 instead of waiting for the maximum top. It was pretty clear that it would fall back quite a bit after the top had been reached.