Bitcoin Forum

How you view BTC that is? When it takes big dumps and crashes, I don't really panic anymore. I also don't think to myself "if i had only put in $5,000 into it a few years ago, I'd have enough to retire now" anymore. A month ago, when all this hysteria hit, that was all I could think.

I think all the panic is for nothing.
There is nothing strange about Bitcoin having ups and downs and personally I am positive the value will increase to new heights in the future

Price goes up, price goes down, the blockchain keeps plodding along.

It gets easier the longer you're around it; I learned about btc back when it was 40$, and the first crash I experienced in April I believe, when it hit ~$250 and dipped back to double digits, I thought that was wild.  Anyway now that seems silly, considering where it is now; thinking about where it will be in the future, this all will seem small.

I feel that I am obsessed with bitcoin.

I'm in it for the long haul, so all of this "shoulda, coulda, woulda" talk is useless.

If anything, it's fun to see it gain more recognition no matter how the price fluctuates on the markets.

Don't watch the chart all day, it is pointless. With time you get used to ups and downs.

The price fluctuations have never bothered me as I'm holding for a considerable while, but I like it when the price is rising and can't help but feel a little smugmode. When you first get into cryptos there's obviously the whole if only I had bought when I first heard of them or why didn't I buy more? etc, but that's passed now. I also used to constantly check coinmarketcap, but now I only really look once or twice a day.

the nervous energy that one builds up over the rise and fall of bitcoin is not conducive to a healthy lifestyle. you feel miserable when you are afraid of losing a large portion of your wealth; the only solution is to become more zen-like, or to unload the amount of capital you have in bitcoin.

the nervous energy that one builds up over the rise and fall of bitcoin is not conducive to a healthy lifestyle. you feel miserable when you are afraid of losing a large portion of your wealth; the only solution is to become more zen-like, or to unload the amount of capital you have in bitcoin.

+1, and holding a lot of my savings in there too now. Just have to go with the flow, zen-buddha mindset indeed.

Day trading is insane so I just wait and see while I try to diversify my money a bit and also give some BTC to friends and family.

A few key points:

A) Its OK to be obsessed (you're an evangelist!), just dont hang out at the trollbox too much and dont look at the price everyday.

B) Explain the technology to friends and family, the best way is give them some BTC, even .1 will do. Many people wont recognize the value of something until they have a bit, and everyone I have given some too has become more interested.

C) Constantly ask for more companies and services to accept BTC. This is extremely important. Send Wikipedia 3 emails a week.

D) Spend some BTC. Everyone hoarding and holding makes for a VERY unhealthy economy. You dont have to spend 20% or even 2% of your holdings, anything from .1-1% of your holdings per month should be used for services and purchasing goods. If you live in the USA, make an effort try to buy something Made in the USA with BTC as this has the potential to have a profound effect on our sagging national economy and put us at the forefront of a next generation one. If you dont want to use BTC savings for purchases, when you want to buy something, convert fiat into BTC just for that purchase and/or have a separate, smaller BTC wallet just for spending.

By spending BTC, you directly increase its value a non-zero amount.

Interesting topic. Yes, it has gotten way better. During the last few months, I have experienced my wealth literally going up or down $100K+ in a matter of hours. And that's from a guy who still has a day job, and until very recently paid mortgage every month. It's been an almost psychedelig experience so far.

It's gotten better though. I feel very, very confident that whatever short time roller coaster rates we'll see, this shit is gonna skyrocket in the long term. The genie is out of the bottle. No bad news from China, no retarded panic sellers, no 90% speculation market volume, can change that. Cryptocurrency is here to stay.

This.

+4 (as in +1 on every point!)

Definitely easier. Like anything, you get used to it the more times you get exposed to it. Water off a duck's back now. Wasn't like that the first time ;)

In regards to sitting thinking  "man i should have done this or that"  or "damnit I bought to high and now it crashed"  etc etc.  I don't think about it at all.

For the bitcoins I have in "savings" i don't plan on using/selling them for a good 5-15 years or so. I'm really believing in bitcoin in the long term and I understand it's not uncommon for something like this to take a couple of decades to reach it's full potential  (think online shopping, websites, online banking, credit cards, etc etc and how long it took to reach mass adoption).

Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions.  Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.   Just some thoughts I think about..... but waaaaay too early in the life of bitcoin to really think about that too much now, lets come back and look at it 5-15 years from now :).

to be honest, about last month.. all i could think of was the regret in not spending more. there were a few instances where i planned to buy $100 worth of litecoins, when it was trading for 6 cents. i got lazy and gave up, since i didn't think of buying BTC and then trading for LTC. it's water under the bridge, but that $100 would have turned into something like $25k today (this was about 6-7 months ago). it's crazy how a few thousand dollars would be enough to retire you for the rest of your life; but it didn't happen, so the best option is just to get over it.

Like you say I believe that Bitcoin is not a get-rich-quick scheme as most people think. The true potential of Bitcoin is not a matter of few months. I am not planning to cash out anything until two years.

Since I am into Crypto-Currency, I feel that FIAT money is obsolete and ultimately have no value. I believe that a part of the global economy will collapse really soon and keeping your wealth in FIAT currency is a greater risk that having it into Bitcoin so there is a possibility that my Bitcoins will never be converted back to FIAT.

If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.

there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.

I'm investing little by little but at the moment I've only invested a quarter of the sum I intend to invest. This means I'm constantly worrying about 'missing the train' which makes me check the price a ridiculous number of times a day.

Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much.  Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.

This is flawed, you can apply the same to the $ if you want to spend in euros, for example.
For the same reason, if I want to spend 1 bitcoin today it's still 1 bitcoin tomorrow, etc...

Depends what country's fiat you're using and how stable their economy is. Zimbabwe abandoned their own Dollar for others in 2009, and now largely use US dollars. Maybe other countries will get rid of their own currency in favour of cryptos in the future. But I get what you're saying about Bitcoins fluctuations, but we must remember this is still the early days of a essentially new type of currency. I'm sure it will steady off in the future and maybe people won't peg it to fiat and maybe even the other way round.

Oh I certainly don't disagree that the volatility of bitcoin should smooth out as time progresses and the market gets larger. Small markets are always pretty volatile. And yes I'm aware of other countries collapsing or getting rid of certain currencies , but again most people spending money are thinking about what they are buying RIGHT NOW , not about whether or not America (Just using america as an example) is going to collapse in their lifetime and the dollar disappears. 

I would disagree it's flawed, the reality (currently) is that if you want to buy $20 worth of groceries tonight it's going to be the same amount tomorrow or next week or next month (not including things like sales or seasonal foods of course).  While 1btc is still 1btc , if you wan'ted to buy 1btc worth of groceries tonight and you put it off until tomorrow, suddenly the amount of groceries you get is going to be quite differe wether it's more or less. And for people wanting to buy groceries (or most items) they don't like that level of instability and uncertainty. They prefer to know they can get the same amount of groceries next month that they can get right now.

Things could and I think should change in the coming yes but regardless of how much you like bitcoin it is a reality right now that it's not  practical currency for shopping as of right now.

Its hard to know at the moment. Are we going back to $300, or going to stabilize at $600 to $700 and kick on in the new year ... nobody knows.

I reckon it'll stay relatively stable until the new year now, unless there's some unexpected big news, but I can't see any. I'm sure it'll be a wild ride in 2014 though :).

I don't panic. I don't see the reason to do that. I invested some amount that I more then quadruple.

That's the way to do it with bitcoins. Fire and forget.

I was up over 1000% at Bitcoin's peak.


Ha. Something to do with the tides I think  ;D.

better and better dont really care of the big dumps. but what sucks is that people will be scared that the same will happen in the us as in china :/