Bitcoin Forum

I am getting sick of seeing all of these threads of people panicking!  I have not even been into BTC that long, only a few months, and I can already see that this is just typical for the history of BTC.

What we know:  We are still very early in this.  BTC is volatile.  It goes up, it goes down, it goes up again and plateaus at a higher point.

So what is the big deal everyone?

I for one am holding.  I will turn off my computer this weekend (I am going out of town anyways) and hopefully return to some normal boring activity with BTC around $90 to $100 next week.

Call me crazy but holding could just be the smart move in all of this.

I'm holding too.  I've been super low activity on trading for a couple months.  Waiting for $200+ to get excited again.  Based on the last two major spike we could hit $1,000 easily and it will be a real fun ride.

I'm with you bitchick! I'm long term holding, only selling up to 10% of my BTC to buy in lower.

I remember such calls last time, there is this pic which brings back memories :D

https://i.imgur.com/DjLAsir.jpg

another poor guys whos denying to sell and cover losses

Of course there are benefits to selling  and trying to buy back lower for the short term (even considering the past few months).  Some of us are thinking in terms of years here.

Come back in a year and see where we are at.

Patience is a virtue.

Nope! I am a girl. ;)

im sorry girl for your losses :)

Holding.
Finding it really hard to hold on to dollars though, at these prices.

I would be tempted to buy more right now if I could!!  Unfortunately we have most of our loose change tied up in BTC or other non-liquid investments.  We are going on a pretty extensive vacation in a few weeks too so I want to keep extra cash liquid for that. 

why hold when you can buy it cheaper?

Sell to my walls please

Maybe if it keeps dropping, I'll have a chance to join the Vladimir Club... Ahh, dreams.

Also holding :3
Maybe buying some Coins, if it continues to drop.

Price goes down? price goes up? I don't give a F#$& because I

HOLD

Bears won't touch any of my coins! HAHA

where are you united holders hehe

Husband has BTC locked up securely.  Having it out there is a bit unnerving for him. We had a little cash on Bitfloor.  That did not work out so well!  ;)  Also, I don't trust myself.  If I decide to sell it seems to be proof we have totally hit bottom!  ;)  At least when I tried day-trading for a while that was the case.

So better just to sit and be patient, for me anyways.

Personally, I will buy back VERY soon. Just waiting for the funds....

Broke two of my walls in the last three days. I have two more walls standing before I put a hold on buying.

Jaroslaw, Why are you so excited about Bitcoin going down?  From all the post you have on this board you are acting like it is Christmas Day because the price is falling!

If you think Bitcoin is such poor investment, or not going anywhere but down, why bother even posting on here? It seems like a total waste of your time.

Jaroslaw is just a troll nothing more, I'm surprised he hasn't been banned yet. The only thing he can talk about is how many coins he's going to sell and that bitcoin is going to shit. Just hit ignore and then go on like he doesn't exist. :)

He is enjoying his fantasies of might&influence (or just the trolling)

I still prefer bitcoin rather than fiat even if they worth 0$

Squirrelling... I mean, holding as well :)

Even smarter if you close it and not return for 1 year ;-)

You guys should think about ASICMINER-PT - great hedge against falling btc

holding btc might make you rich when it goes up but not when it goes down.

If I wasn't so addicted to checking the price all the time I could do this.  Probably would be better for me to give it a try!  I think I am at least learning not to get too worried with the volatility.  It is just the price we have to pay as early adopters in this.  Those with weak hands will get shaken out at some point.  Those with nerves of steel can hold on and ride the waves.

 

Warren Buffett - "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"

sellers unite

True!  If you have the funds available on an exchange, I would say BUY!  

holding my coins atm. Selling with loss is never "my thing" :P


Bought between 50 and 110$, so I can wait. But I hope we will see triple digits soon :)

http://3.bp.blogspot.com/_gmV5tHqYzEI/TTBLFNCUEvI/AAAAAAAAAI4/NjnlhTcw9qM/s1600/bubblesandmanias.gif

I guess we are moving from capitulation to despair atm :P

Start your own thread.   ::)  Thanks.

I was panic holding, then noticed I had some fiat in my account.  So I bought around $76-$77

Sold previously at like $83.  Made like 0.30 BTC.  This bear market stuff ain't so bad.

I'm wondering if this will last another week so I can buy the hell out of the downtrend when I get my annual bonus....

"Be greedy when others are fearful"

I get my monthly bonus of food stamps on the 14th... Maybe I can sell them to someone for BTC  :D

I have huge buy orders at 50 and 30$  :D

We haven't really seen capitulation yet.

That was great.  Wish I had a little in my account to play with. ;)  It is less painful to have the price drop when you can take advantage of it for sure!

How do you know we are not at the bottom of Despair??? 

A woman who can't day trade? You don't say?


(sorry, I know that was a cheap blow... I just couldn't resist... please forgive my manly woes...) :)

At least I am logical and wise enough to realize my weaknesses. Give me some props for that! ;)

There are gender jokes that are funny, this one was just lame. You need to work on this ;p

This is what Libertarians dream of. No central controls of price. Let Bitcoin die and something better and stronger take its place.

Mad props :D Takes a real woman to actually admit to weakness. You win 20 'madpropz'. :) I'm sure you have some money making qualities!

So what is this better and stronger thing?
Must have missed it.

don't you know? its chinacoin! /s

Get back in the kitchen woman!!!

:( Oh man... I'm just off today... must have been the encouraging words I gave my wife earlier... ;(

Don't worry, I'll be back tomorrow; BIGGER. STRONGER. & most importantly, FUNNIER! ;)

hahah I'm probably the only one i'm making laugh at all of this ^_^ Tis okay....


UNLESS YOU'RE HOLDING BITCOINS!!!

OMG, PANIC! SELL! SELL! SELL!

I'm deeply considering increasing my position. Volume currently is so low that bitcoins are very risky but there are some big things in the pipeline that will help bitcoins tremendously.

1. Winklevoss Trust [ This could be massive if it succeeds ]

2. Coinbase instant buy BTC. The main issue with bitcoins is the difficulty to transact them, this would help prices greatly.


I have a significant amount in bitcoins right now and I'm personally not worried at all, I entered bitcoin knowing the risks, and realizing this was a long term investment not some overnight get rich scheme.

Good luck to all regardless of your position!  :)

I think the big sell off could be people's concerns with MT. Gox holding onto funds or suspending withdrawals for two weeks.  I guess tomorrow is the end of the 2 weeks they gave for holding funds so people are anxious.  If they do not keep their promise there might be fear that there is something more going on (fear of not enough funds at Mt. Gox).  Hopefully Mt. Gox follows through and the price goes up. We will see.

I like the kitchen.  It is my husband in the kitchen that bothers me! ;)

Holding as well.

"Those who panic sell first, panic sell best" - and we're too late for that party I think, just wait for the next one guys and girls.

Probably true.  I suppose being able to read what the "feeling" is would be helpful in profiting from these panic sells.  I just never really know for sure and second guess things.

I follow a Goomboo-esque strategy.  His thread is really a boon.  If it weren't for that thread, I might as well cut my d1ck off.

Right on.. I'm holding as well...short term isn't looking so great but long term, fantastic,.

I would wait it out if I were you, I know I am, wait until at least the weekend clears and most of the panic is out of the market, we should then see a nice bump back up then another panic sell.

If we get past $50, I would wait into the $20's or teens to get back in.

The reason why I have this opinion is that allot of the btc traded is by very inexperienced traders (it seems to me) that have probably never been through a real crash and literally do not have the stomach for it.

They will panic and let their emotions control their actions, just look at all of the "im panicking", "OMG why is it going down!!!!" threads.

It will be nice to buy 10 BTC for $200.00

Just my two satoshi's

The Dragon will soon awake and eat all your cheap coins!

Hence why I am holding. ;)

Double down on every 50% drop or a positive grid trading at $10 interval. Unlike foreign currency market, bitcoin market definitely don't have a lot of large institutional traders, grid might not be that effective

That's a good attitude.  Fortunately, Ripple is here to pick up the slack.   ;)  Flame away. 

Take your centralised digital, printable currency elsewhere. This is finite, decentralised territory.

Right this is why you should stay in the kitchen.

MtGox ... does not have enough funds.... OMG let me sell all my coins to.... fiat.... Wait.... does that make any fcking sense?

I hold bitcoins only because I have to trade the virtual securities, those securities are very prolific, much more than trading Bitcoins.

Gender jokes are so 2008. Go back to 4chan with the rest of the unwashed.

Otherwise, agreed. We should see a price bounce with Gox announcing they fucked up the bank thing.

Mt. Gox at 72!

Indeed.

Panic will set in soon and this downtrend will be over.

Bear markets only last so long until it is no longer profitable to sell and coins are too cheap.

denial is gonna cost you a lot of money.

you aren't losing any money if you hold your bitcoins while the exchange rates falls, just like you don't gain any money when it rises. you are merely changing the potential to buy USD.

who says i won't go long when the trend goes up?

sell all your coins now, and buy back at lower prices and when the trend goes up = profit.

even then you are still only losing potential not money. you can't lose something you never had.

I think OP are really smart to realize this, actually the bitcoin holders and miners are the central banks of bitcoin economy, if they never sell any coins, means no money supply increase, it will stop the sell pressure and increase the price stability. Of course if they have built some reserve that's even better, they could step in to buy coins to support the price and sell coins when it rises too fast

I couldn't resist... I bought 4 more today at ~$73.00

and now it is 67.88

Your point being that it is lower?

I sure as shit don't have a crystal ball and neither do you, what we are looking at is a buying opportunity.

If we see 50, 40, 30, 20 or 80 I will pick some up at those levels as well.

Don't own much stock or trade any forex do you?

some here and some there... (real stock and this virtual stock..) Usually i am holder but once a month read into the subjects and make my decisions. No crystal ball or other cheating... :)

But don't worry, I am sure long term that was a great purchase...

Well,  seeing that the price dropped substantially and then bounced back slightly, it could have been smart to sell and buy back like many have done, or are doing.  Of course, how do we really know for a fact this will happen?  Also, I was out of town all weekend, with very little wireless service hiking in the mountains so I did not have much of a choice but to hold. ;)

Still, for some of us it is the best choice, if we really do not wan the stress of the roller coaster ride.

Hopefully we are back to triple digits soon enough.  It seems like it is taking a while though.

  Day traders compete against each other, and the gains made contribute to volatility and make the losers feel bad. It's basically like gambling on market sentiment. I prefer to make my money in win-wins where everybody walks out better off. Besides, there are a lot of sharks on the markets and I prefer not to swim with them.

    I study the global financial system and I think bitcoin is the most fascinating event I've seen, so I like watching it grow regardless... when I am making profit it makes it a little more fun, but it doesn't really matter that much. If the economy falls apart bitcoin may skyrocket. If the economy is strong, there will be other ways to make money. Just have patience...

   Somebody pointed that the bottom of the last devaluation was when there was a huge spike in sell off volume. I say save your cash and wait for this to happen again and then buy up as much as you can.

   

We are in a downtrend, bubble deflation, so you should expect the price to go down.

     I really don't feel that it is accurate to call this a bubble. A bubble is when an asset class is overvalued through greed. Bitcoin is not overvalued- if people understood and could calculate its true value, it is massively undervalued. This is a combination of profit taking and loss of investor confidence. If people understood either how overvalued the fiat they are trading their bitcoin for is or how undervalued bitcoin is there would be a massive correction. I have been watching the markets off and on for 15 years, have studied the global economic system in university, and travelled enough to have a faint inkling of the potential here, so when I heard about bitcoin for the first time I realized the efficiency gains resulting from bitcoin as a concept will eventually be measured in the trillions of dollars (todays inflation adjusted).
     I understand, not everyone has either my educational background or belief in the wealth creating potential of unimpeded capital flows- we all have our specializations, so I would say we are just seeing the curve of people understanding bitcoin and understanding that it will not be stopped. In 10 years where we are now will still look like the flat, bottom part of the "S" adoption curve on the chart, inshaAllah. This is not a bubble deflation, it is not even a bear trap, it's just a blip.
      Sorry, I've been mulling that one for a while, had to get it off my chest...

So, what we had in 2011 wasn't a bubble neither?

Yes it was, and this one is a bubble too, Bitcoin price went up because people hoped it would go higher, and a speculative mania cycle was triggered when we broke ATH in March. As soon as the price started to go down, people sells and the price goes down even further, which is the classic bubble deflation process.

Speculation has always drove Bitcoin price, its an asset very sensitive to speculation by very design. But during bubble phases, speculation goes nuts, clearly overshadowing the demand of long to mid term investors and "users" (mostly Silk Road and ASIC miners buying hardware). When the peak is reached, speculators to their thing, selling to realize profits or cut losses. And as BTC is 99% speculation, there you have the bubble deflating until final capitulation is reached, and the cycle starts over.

this is exactly what i think and i don't even consider myself an expert in economy or finances. +1

the problem with your thinking is that nobody know the real value of bitcoin. and to call something to be a bubble you have to know value of something and the price have to be higher than its value. how then can you say for sure that something is in bubble state if you dont know its real value? Maybe bitcoin is undervalued all the time? Then how you will call it? underbubble?

The only way to calculate the value of Bitcoin is by supply+demand - like for the vast majority of other commodities. In this moment the demand driven by the hope for the price to be higher exceeds by a lot the demand of Bitcoin for other uses (including investment, Darknet purchase, international transfers of value, etc.).

sorry but how hope for price to be higher is different than investment? and yet you those two are putting in opposite camps? people are buying bitcoin treating it as investment and because others are closing its investment the price goes lower so how is that a bubble? to me its normal behaviour of unregulated stock and not a bubble.

Investors are less akin to undertake a big risk, so they ideally buy when the price is stable and plan to hold for X years until a certain goal is reached. I will give you a practical example: I invested in Bitcoin when it was at around $13, which was a price that held for a long time. Now there are no investors looking to spend money on Bitcoin, at least no "serious" investors, because they know the price is currently overvalued. As soon as Bitcoin becomes again a good investment (<$50) more money is expected to be thrown at Bitcoin.

Speculators are more gamblers, they are into high-risk, quick-profit trades, and if the gamble go wrong, they just close their position ASAP - wash, rinse and repeat.

And what investors will do if price will never be lower than $50 because there is less bitcoins produced for example and more people wants them and those who are holding large amounts are rich already and don't need to sell their big stacks of bitcoins any time soon. Isn't it a gambling also? I don't see a difference. All i know is that you sold your coins, convinced your friends to do the same and now hoping the price will be lower so you are convincing everybody else to sell so you can buy cheaper. The problem is they might not believe you and do the opposite like they are doing now.

You start off talking about your position -- which is fine. However you then go on to make assertions about "serious" investors and what they "know". Do you have data on this?

I sold part of my coins. I have two very different approaches: I have a trading position (that now is 95% fiat), plus some BTC in which I invested many months ago (which are in a paper wallet and won't be moving for at least a couple of years).

   I am not really an expert on anything, but I've got some unique perspective by virtue of travel and study.
I just don't think that bitcoins price movement should be compared to, say, the housing bubble. Bubbles are often fuelled by loose monetary policy and excessive debt. With housing, developers take out loans to build more houses than there are people who need houses, assuming the market will continue to grow. Banks loan more money so that people buy the houses and the market keeps going up up up. At some point people are overborrowed and the rate slows. Everybody who has been building and loaning panics as they realize the growth is unsustainable, leading to a panic and crash. There is no chance that someone is going to find a revolutionary new purpose for houses. The market is simply saturated and there is no mechanism that can increase demand, except buying bad loans and dropping interest rates to close to nothing, so people can buy even more houses.           

      Bubbles happen when demand is saturated and supply overtakes demand. Depending on the velocity this could lead to a huge correction as people panic.

   You are correct that supply or sellers are  currently more abundant than demand or sellers. But the market for bitcoin is far from saturated. I think a more accurate metaphor for bitcoin is a mushroom, and we are still in the mycellial growth stage. This means bitcoin is still underground and the growth slows or speeds up depending on moisture, temperature, ph of substrate, nutrient content and so forth. When the mycellial mass has reached a critical point then the fruiting will kick in and suddenly it will appear on the world stage and 8 year old kids in Tajikistan will know about bitcoin.

   Really just semantics, but I am just saying that bitcoin has a lot of potential aside from current supply and demand and that can be effectively demonstrated, whereas the value of the thousands of empty condos in Las Vegas is a little harder to demonstrate, which is why I don't think  oth should be lumped in the same category.

I'm holding too.  I'd be taking a loss if I sold, so I'm holding and hoping the price goes back up again.

Me too ,I can't understand why people are so essay to get panic...the only reason that BITCOIN price loss is the result of manipulating.
If people really needs fiats, they can sell their coin over tradehill , as the price of tradehill is link up with MT.GOX, No reason to sell big quantity over MT.GOX and causing loss of their wealth, thereby this just result of manipulating ,and those people were not really leaved BTC ,they were waiting for other panic and collecting benefit on it

greed. bitcoin price is in a very long uptrend from the begining and nobody knows where it will end and yet some people want more causing harm to others in the process. its just lame.

Yes ,Hold it on....do not become victim of manipulating ....

+1 Bitcoin's revolutionary potential as a currency hasn't been realized yet. You explained it in an excellent way

Do whatever it takes to increase the amount of BTC you have! I'm not good at speculating so I just buy when the price drops.

I will hold for as long as I can. Bitcoin - our future!

It seems to be bouncing back now.  ;D 

Of course it would have been nice to make money during the dips, but I am pitiful at day trading.  Probably because I really do believe in Bitcoin and the last thing I want is to be left with cash in my account after selling BTC and then not having any coin when the price jumps again, which seems to be what happens to me.  So better to just sit out the bumps, for me anyways.

I am holding onto my coins as I feel Bitcoin is the best alternative to the FIAT system. I feel there is vast amounts of potential and we are just at the beginning, unfortunately we do live in a world full of scammers, days traders, idiots, greedy/ignorant people and so on who care more about making quick money and throwing the idea away once they are done with it.The fact that we consider ~£50 as doing bad in 2013 I feel shows significant growth. The media storms seems to have died down and lots of us still have our coins. :)