Bitcoin Forum

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sure it isn't dying because we use it.

As long as we use it it will never die!.

I don't think it's dying but i'm also not as euphoric and optimistic anymore as i used to be the last 2 years.
I started thinking bitcoin will eventually become the old slow dinosaur of the blockchain technology park.
It is the first attempt to implement the block chain technology in society.
The first time a technology is used never becomes the most successful usage of that technology.
And even if bitcoin would die, it would not kill crypto-currency.  The blockchain technology will have a far greater impact than bitcoin, hopefully even outside of crypto-currency.
Very existing times.  just don't forget we're dealing with money....

Agree! According to the decreasing and fluctuating price, some people might have problems in trusting the BTC.  But I don't see this as a bad thing;  the more the desperate people sell to less desperate people, the more stable the coin will be in the future.   And, I bought more BTC's now for this price :D

When I did manual HFT of Citi stock for a small hedge fund before C did their 10:1 reverse split and ruined the game for everyone, I used to keep a journal where I would chart my emotions on a simple 0-10 scale fear-euphoria, when I was euphoric, it was usually time to take profits, when I was afraid it was usually time to add to my trade, or stick.  I think that principal applies for bitcoin very much so.

Now I'm a little worried, but fairly content.  I hit my fear mark right at the bottom of the crash, when the bitcoin people responded to mt gox saying it was their problem not bitcoin.  I knew I should buy, but was afraid to.  So I bought as much as I could afford down at 600, and I'm holding that now.

hold it hold it.
Tis is not a good time to sell.

Every time Gox shits the bed this happens. Mass media FUD engines start up and start spewing loosely factual stories by people who barely understand what Bitcoin even is, cry that "bitcoin is dead!", and then eat their words a few weeks later when a big rally happens, at which point some of them switch to "its a bubble!". Over, and over, and over this has happened in the last year. Any BTC veteran knows this.

Fiat market price means almost nothing, and is a poor indicator if Bitcoin's health.

Look at how many businesses are accepting it each day, the massive development work going on, millions of dollars in VC capital now, big names getting involved. That is what matters most.

These dips are always a bit depressing.  Bitcoin should be banned for anyone suffering from Bipolar disorder. ;)

But that said, this is nothing new.  This is actually typical Bitcoin behavior.  Having been involved with Bitcoin for almost a year now I learned through experience that all of these crazy ups and downs are just part of the fun.  When we have the runs up to new ATH it is completely exhilarating and then the drops are demoralizing but then we run up again.  Who needs the silk road anyways?  ;)

But that said, even with the price dipping into the $500 range or so it shows how far we really have come.  Last year the price was only $25 or so in February!  Next year we could be looking at $50,000.  Of course the same thing could happen then too.  There might be some "bug" discovered which causes a panic sell-off down to $25,000 and everyone will be crying "it is the end of Bitcoin."  

When it gets to $1 and stays there maybe then we should worry.  ;D

You're such a joke I can't stop laughing


early adopters are so insulated from reality and the rest of the world.  how about does dropping over $6B in market cap do for perspective, or now be lower than when China entered the market, there are no positives to be seen here.  Everyone is all to happy to defend gox and absolve them of any blame even though we all know they have been a problem and still no one can get fiat from there.

long term investors are similarly insulated from the day to day fluctuations and hyper vigilance discussion that follow every fluctuation of bitcoin.  

I am more sure that what i put into bitcoin will be worth more 10 years from now, than what bitcoin will be worth 10 minutes from now.  

similarly, miners are also insulated from these day-to-day fluctuations; at least the ones that didn't overpay for their equipment. 

This is why I get irritated by the early adopters, they are the ones crying the most about the drops yet they were able to buy bitcoin for just pennies or dollars and became rich overnight, they took very little risk and made immense wealth and pumped the hell out of the coin with promises you can get rich too. Meanwhile you have a whole new 2nd generation of adopters who jumped in the last few months after hearing about Bitcoin hitting $1,000, a lot of working and middle-class folk who against the wisdom of their spouses and family are pouring what is a huge investment into Bitcoin hoping to catch what they believe is the leaving train. Now tell me, who is REALLY feeling more financially devastated now, the guy who had 5,000 BTC or the guy with 3 or 4?

The one good thing about this crash is it will release a lot of Bitcoins from old hoarders into the hands of new people and actually start cycling around the crypto economy again. I think it is a classic market correction.

You dont lose any money if you do not sell!

Only invest what you can afford to lose!

You either believe in BTC...or you dont! The ones selling now out of fear of losing their shirts have already lost... Just hodl it and buy up some cheap BTC... It really is just that simple.

Better not sell my stocks in Enron then... see how what you just said doens't make any sense?

Yeah sell now when 99% of the population doesn't even own a satoshi. You will cry in 2-3 months when BTC is back to $900. I cried 1 month after December when I sodl and saw BTC back up in one month.

:) it those situations HODL is needed.

Don't sodl, hodl!

Sodl?

 :-)

So should I sodl or hodl or nodl?
:-)

Trade or hold, don't sell

I know I know :) Just kiddind :P but thanks for good advice !!! :)

:) hold for now, I havent got too much anyway. :)

Currently MTGOX USD $467 but if I want to buy BTC from coinbase it's $702 USD.  I think that means GOX is irrelevant at least for now.

Yep. Gox still have problems. But seens like other exchanges are working great.
:-)