Bitcoin Forum

Some people here believe the true value of Bitcoins is under $5, and if the inflationary wall at $10 could be breached then it would plummet further. Basically would you sell everything to save what little value you have left?

Anything lower than 10, I buy buy buy...

But to confirm people's theories that Bitcoins should be in the lower single digits, this requires people to massively sell even more once it goes lower.

the only people who will sell everything are those that are only in bitcoin to speculate... okay maybe that's 99%

I'm a buyer, going down and/or going up.

You gotta pay to play. Right now I am still in test mode using small amounts.

I fully expect to learn this market and put it to full use.

IMHO all predictions of future prices are pure hogwash.

Noboody knows.

No, no, and no!  ;D

Doesn't matter how low bitcoin will get. I will never sell.

What do you mean?  I already sold everything.  I am just waiting to buy!

Wouldnt it be more inteligent to sell when its higher?

No, I would buy.

Speculation is not intelligence. Yes it may have been smarter to sell higher IF the market goes back up, and yet would be equally as smart to sell now IF the market goes down. With the current downward trend and the weekend ahead he very well may be making an "intelligent" decision.

Anyone who believed that shouldn't really be holding BTC. Anyone who REALLY believed that wouldn't be in the market right now at all.

And some that are passionate about it still piss and moan.. to get a better price on your bitcoins.  ;-)

A stupid question.. 

It assumes you are buying/owning Bitcoins purely because you hope to make a lot of [fiat$] buy selling them for more later, and if that hope dims a bit, you will abandon ship and run away.   You are encouraging those who think it is a pyramid scheme to have reason to do so..

You dont really care about the Bitcoin concept, or the idea of your money being free of external influence, its purely an opportunity for you to make money in the *current* controlled financial system ?

If that is the case, I hope they DO drop to whatever level is needed to scare the weak kneed dollar profiteers off, and cause them to runaway now, so that Bitcoin has a better chance of success later..   

If its value goes up, I wont complain because to me that *indicates* greater adoption and awareness - although it *could* just be due to a big player jumping in and buying all the coins they can get their hands on - which means they could easily jump out again as quick..   

I want it to slowly and steadily increase over time as awareness and use grows so the world can eventually be freed from manipulation of the resources of the many to the benefit of a few..

The $ value of a bitcoin on any particular day is of little concern to me, the only thing that would cause me to abandon ship is if there was a clearly *better* system gaining traction that would replace Bitcoins with something even more free of control.

Ideally I would like to see it drop to under $5 for a few months, then begin to slowly and steadily grow again.. that should scare off the profiteers

nope.

two rules:  never sell at a loss and never gamble what you cant lose.

i wont sell at anything less than 10% profit after fees.  at which point, everything (profit included) gets re invested at a lower price, restarting the cycle. 

i havent panic sold yet, and i refuse to.....

Dropping under $10 means buy pretty blindly.  Unfortunately there is no true way to do that with this technology, too many unknowns, however, that $9.50 hits a very magical sweet spot.

If I was miner/speculator I would sold all my coins by now, simply based on my own thinking that we had  witnessed first boom cycle from April's $1 to $33 top. Each boom/bubble is followed by a bust before we can start a new real trend. New trend will start based on more use of bitcoins or big influx of/and new buyers/speculators. What I see here is pure hype and impatience by majority of active posters on this forum. Majority thinks everything has to happen with lightning speed which is just simply wrong. Bitcoin needs its time to mature and system to grow naturally. Right now what happened in June was nothing close to natural.

Bitcoin word got out to the masses due to blogs, silkroad, youtube, forums or whatever media people used to spread their word. When price started to move from April $1, everyone was buying GPUs left and right for whatever price as long as they could get them. This resulted in the huge pop in network hashing power. At the same time, basically small group of 10k people, who aren't technical savvy or don't have time to run rigs 24/7, they jumped into bitcoins head first because price just kept on moving up and up. Bubble popped at $33 and here we are at $15. Nothing has changed and bubble is still deflating. All this drops to $12 and then runs back to $16 are also important  and needed so bitcoins exchange hands and there are more and more spread out.

Difficulty jumped huge in June a s result of everyone buying all those extra GPUs because the price ran up to $30s. Now the rate is somewhat slowing down but it won't stop or even reverse like some are saying/hoping. If some miners will quit its just temporary effect because we went from 100k difficulty to 1.3mill in a matter of few weeks and some people were dreaming they will get rich quick just by running mining rigs. When everything settles down in a while I would expect a natural growth of the network between 2% to 8% every 2 weeks all the way until we hit 10.5mill coins where I think we will switch to 25 BTC per block. From that moment forward growth will slow down even more. If bitcoins are here to stay for at least a few years before we get a better bitcoin II version, network will grow to 1000 Th from current 10 Th and difficulty will be in the 10s of millions. Mining as we know it now, using GPUs won't be profitable any more, same as CPU mining isn't profitable now.

Longer it takes for this bubble to deflate, bigger long term chance bitcoin has as a project. If we would crash in the short term, next 3 to 6 months, price would probably drop to $1 to $5 range. If it will take a year to deflate, we could see $5 to $10 range and if it would take even longer than that, we could expect the bottom to be $10 to $15 area. Longer it takes for bubble to deflate, more volume it trades and more spread out it would get.

Higher number of bitcoin owners/users, greater its potential value.

Right now majority is focusing way to much on day to day price movement and overall hashrate of the network.

Why sell that low? That'd be stupid. You can sell it for more now.

When it goes <$10 would be a good time to buy.

Yes... I will sell all my belongings to buy more..

Although this is probably not possible, let alone probable, I'd like the dollar to not be related to BTC at all.

If merchants and customers adopt it, its successful, regardless of its dollar exchange.
If a merchant can buy his products from a distributor in BTC.. you do the math.

And how would you determine the 'true value'?

It would be based on economic activity not counting speculation (according to them).

Why would you sell because the price dropped?  That is the way poor people think.

When the price drops, I trade stuff for BTC and use the $ in my account to buy more.  When the price rises, I buy stuff with BTC and sell the coins in my account.  That is how you get more $ & BTC.  I thought this was common sense...

I wish I had panic sold at $24

Yay a thread of bagholders.  You guys are the fuel that keeps the machine going.

*salute*

yea? and??? you are the fuel that keeps the dollar machine going. Do you hold any gold or silver? Because if you do, you keep the precious metal machine going! A good idea means NOTHING if there is no one supporting it.

10 years ago..




10 years later..

I agree. When the price drops to a reasonable number you don't sell, you buy. Quite the opposite.

And, though, I get that the OP question is only putative, I do not think BTC will go under 20K any time soon...

Sell and take the loss is a terrible move, and the only reason to do this is if we need the money in that time, but is something that no one should ever do. In the end is how the markets work, remember every time someone is winning another person is losing.

Just like the ones who buy at $20k 2 years ago, they had to wait for a long period but today they have tripled up their investment.

I really enjoy reading this thread from 2011 and see how people react to the price of $10.  ;D

Lol. I can only say I agree :D
Tell you what, I'll even double it!

Billionaires become greedy on the fall and not on that rise, so buying more during the fall is more beneficial provide you believe that bitcoin will not become zero or worthless and will bounce back even if the prices fall drastically. Time and again we have seen how bitcoin have bounced back and created so many times the new ATH and will continue to rise ahead too.

and they say history doesn't repeat itself and people learn from the past.

if anything most people ignore the past and repeat the same thing over and over again. just replace $9.50 in the title with any price close to the current levels ($50k for example) and you'll see numerous topics all around the internet!
2011 and 2021 are different in one digit :P

I've got emotional for seeing this topic. The price has gone up to insane levels in 10 years. The new ATH is over 60K dollars now which is really unbelievable when you compare it with the price many years ago. I wonder, years from now, what kind of a conversation we will have.  ;D

Maybe, everyone will say, "Anything lower than 100,000,000 I only buy buy buy....  ;D

Sounds like crazy prediction, but bitcoin might make it and than others will make a post like us in future. Over the time, bitcoin is sure to go through bullish and bearish market, but it's price always will be moved upward from its starting point.  ;)

Our grandchildren’s might laugh at us reading this topics. I’m just curious how many of these people still holding holding their BTC’s up to this day. It’s never too late if you believe in this asset, maybe in next few years this topic might be bump again and people reading this might be laughing at people talking BTC at $60k.

me too. but it's more like.. "wooo.. I have a post at a thread where the bitcoin OG have a conversation about bitcoin price in 2011". lol
someone who read this post in the future,.. HI GUYS!  ;D
I remember the first time I read about bitcoin in 2012, I thought it was a coin for a game. you collect it by playing a game and find a buyer who plays the same game too. what a dumb.

The numbers have changed so much over 10 years, it's really unbelievable that $10 per BTC used to be a question  :D
However, just like back then, there are always people making the same mistake and panic selling when things aren't as they used to be. There were times when $1k seemed too expensive, and then $10k and $20k... But Bitcoin always recovers and eventually sets the new ATH. Still, I wouldn't buy at ATH because it might require waiting for years to profit at least a little bit.

LOL.. "some" people think that true value of Bitcoin is $1. Some others think that the true value is $0.01. That doesn't matter for me, because I believe that the fair valuation of Bitcoin will be in six digits very soon. And in case Bitcoin goes down to $5, then I will be purchasing a few tens of thousands of coins from my cash reserves. Because I know that within the next 10-15 years, the BTC exchange rate will increase by a lot.

LOL.  A half-day after I posted this to the Wall Observer:

---

So, did you wind up holding?

(Asking because this user (https://bitcointalk.org/index.php?action=profile;u=4132) has logged in as recently as last month.  If he won’t answer for reason of privacy, I will understand!)

---

It’s the flipside of buying on FOMO when the price is up (https://bitcointalk.org/index.php?topic=178336.msg56583244#msg56583244).  Buy high, sell low!

---

^^^ Winner of this thread.

Hopefully hyperinflation doesn't hit us first :)

10 years later, Here as an owner of at around 8.000.000 SATS [aiming for 10mS] purchased at 25k per Bitcoin level.
Gotta love' the old comments of true Bitcoin appreciators bro.
It blows my mind I wasn't back than at this forum :'(  not to be multi millionaire or anything, just to be part of the Revolution.
One's fortune is a trial on his/her life, I'd rather die with 0$ than zillions and stand before God on Judment Day with all that Burden of mine if I had not  helped others and the needy.
I hope everyone of you old participants on this forum did good man.
What a time to be alive :)
HODL and cheer up.

I wonder if anyone will reply me 10 years after from now and salute me upong my Precious SATS <3

#bitcoinpower

This was really a blast from the past.... Image to have been around when Bitcoin was going at that price. I got in at about $300 and I thought it was way over priced... but I still took the change. A few years after that, I sold some of those coins for $1000 and then at $20 000 and recently for $50 000.

I think in 10 years from now, I will still feel like a fool for doing that, when the price goes for $1 000 000 a coin.  ::)  No matter what happens to the price of Bitcoin.... it still stays a bargain. Hodl and sell some coins every ATH... because it is a absolute joy to be part of this.  ;D

The purpose on why you do engage into this market wont really have any thrill or excitement if you do just simply hold no matter what and missing out those selling chances specially on ATH times.

We can say that those coins in the market were really cheap since we have seen on how far it did go but when we are on that time then for sure we would really have the same mindset on what we are seeing now.

No one do ever thought that we would really be become big like this and never anticipated that adoption do really go to the rooftop.This might be an old thread but its really great to grave dig
and making out discussions about this and how great and do give out that good feeling or somewhat have that regret inside on selling out early.

I would tend to agree with this.  Like any type of investing, no one actually knows the future of markets or they'd be even richer than they already are.  Yes, some markets track upwards over time like global index funds, and Bitcoin might do the same.  However, I'm unsure if some of the predicted future values can actually be realised.  People predicting it'll rise to a million come 2030, MMmm I'm not sure.  Although Bitcoin is the daddy of crypto at present, it doesn't necessarily follow it'll stay that way.  And, if those gains come to fruition, unless the average investor gets in very soon, Bitcoin will surely become the preserve of the rich due to the values it'll be trading at.  At $1,000,000, an investment of $10,000 would get you 0.01 and for your investment to double Bitcoin would then need to realise $2,000,000.  Yes there would still be dips, however if it reaches those heights even in the dips it would still be trading at hundreds of thousands (unless it practically crashed) so would still be out of reach to most in terms of holding a decent % of a coin.

As many people will think here, I would quite do the opposite, what you are presenting is not an opportunity to exit but an opportunity to buy, imagine how many bitcoin you are going to get and hodl with a 10 USD value, becoming a millionaire is going to be a guarantee if you get around 1k bitcoin at that price.

This is such a great visual lesson for the "Buy high, sell low" brigade.

I read the thread title and didnt check the date, i was wondering what the F.
are people thinking? now im thinking What the F. WERE people thinking?

In response to this:


I'll post a link to show that someone who already did in 2017 and is currently still travelling the world

A 39-year-old who sold everything he owned in exchange for bitcoin now lives on a campsite waiting for the ultimate cryptoboom (https://www.google.com/amp/s/www.businessinsider.com/man-in-the-netherlands-sold-everything-for-bitcoin-2017-10%3famp)

There are those who react to their emotions in negative ways and suffer FOMO and FUD,
and others who see an opportunity for the future who Buy and Hold.

Was about to comment something about not buying but selling and then I saw the quote above that it was around 2011, when you look back at it, it looked like the 10 USD price of bitcoin was already a big deal back then but then now we couldn't even think if it will go down to 1k USD again.

Wowww glad to see this post, 10 years ago and i guess you already so fc**ing rich if you still HODL your assets.

It's hard to believe if theres someone can hold BTC for more than 10 years, i will can him "MrStrongHand".

2011 topic, huh.
I had bad thoughts in Bitcoin that year, not from its price but from its utilization of people from the dark web.
If I could've bought few Bitcoins that year, I might be a millionaire at the least right now. It kinda sucks that I let that mindset.

For me, I would basically sell everything before Bitcoin plummets at that value. Its quite reasonable on why some people believe that Bitcoin's value should be around those numbers but its also not logical because everybody within the crypto industry knows that any time the values can drop but placing a value on Bitcoin is not possible since everybody here just rides whatever they can see and ride the current that would give them most profits.

This post is interesting, people in the past were also hesitant about the value of bitcoin until Bitcoin was silently collected in large numbers. I have great faith that Bitcoin will grow in investor suspicions and that Bitcoin will still rise despite any doubts. Just holding at least 1 Bitcoin since 2011 is enough to change a person's life.

I would buy 100,000 of them. Anyone selling at that price?

No one will do.  :P

Nothing has changed. There are still a lot of people that are hesitant to buy bitcoin. But just looking after a decade to this thread reading the discussion about buying under 10 bucks. You really can conclude that it's been a such long road for bitcoin and it's far already although we can say that it's just getting started as the institutions show interest towards it.

It has changed many people's lives indeed. And, now we are accustomed to the price being this high but we shouldn't forget from what level Bitcoin has come to these days. It also means that we can see much higher levels in the future that we will be very surprised to see again. And there will also be new people whose lives will change in a very good way again.

I would not sell it tbh. In fact, I'd buy as much as I could unless the reason it dropped so low makes another price pump highly unlikely.

This applies only if things don't turn upside down, which I personally do not see as an impossibility since Bitcoin has not had a drastic price correction like it had back in 2015. The trend could change at any time in a way it's never changed before. Perhaps it'd be impossible for this trend to only keep continuing.

But this is what speculation is.

No I wouldn't,
If it ever goes that low again I think it would mean that Bitcoin isn't needed anymore there is a new King of crypto.
If it drops to that price we couldn't be so sure that it would go up again.

I would cheer myself up by buying a couple of pizzas with it... ;)

Wow, glad I came across this thread from 10years ago, really nice seeing people support bitcoin during the early stages, when only a few people had the opportunity to grab bitcoin at a very low price, who knows if most of them haven't sold off their bitcoin during the 2017 bull market, but if any of them actually keep it till now they should be millionaire/ billionaires by now, If I could see Bitcoin at the price it was when they discussed this I would still buy it ;D.

Bitcoin will never go as low as $ 9.5.  It would be a disaster for the entire market, and I'm sure, never going to happen.  Bitcoin is getting more and more popular, atm bitcoin at gas stations is in most states in the US, is a trillion asset.So, no need to imagine, and if so, I will sell my house and car to  buy bitcoin.  :))

*This is really crazy, I just realized that this is a topic that was created in 2011 'lol'...
In 2011, of course, there are many who do not believe in the potential of Bitcoin, including myself maybe. if space-time was real and I could go back to that year, of course, I would sell all my assets to buy lots of Bitcoin in that year. *I think all of you agree with me 'lol'

Yep, it is a very old topic/thread. I don't know why someone replied again to this post. This post should be out of date and the topic won't be suitable with the current situation. So, actually, no reasons to make this thread alive anymore.

Sure, if we joined the discussion about this topic in 2011, we may be one of the panicking people to sell our Bitcoin soon once we see the price possibly dropped more than $9.50. As OP stated above, its value can be under $5. So, in this situation, we may decide to sell all our Bitcoin first.

Actually, it is good that someone make this thread alive again.
At least, read how people were thinking back in the days, and they were talking about few bucks here.  ;D
And still the same, people panic whenever bitcoin drop, same even today. But now, we are talking drop of thousands of dollars.
Wow, if someone kept his bitcoin stash all throughout these years, he has nothing to worry about his retirement.