Bitcoin Forum

It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout.  I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"  I've been spending my time reading the forums and hoping.  My friends called me crazy when I told them it's a sure thing.  The shame is just as bad as the lost money.  So I quit.  You guys win.  Coins sold.  :(

This market doesn't favour the weak, that's for sure. I would've held on if I bought at that price though.

You didn't lose money until you sold. Should have held longer weak hand. You are going to be kicking yourself even harder when this rebounds.

hang in there veronica its a brutal battle on the fields of bitcoin trading. but what you need to know is that if you sell now u take a loss if you hold u have 1 bitcoin and whatevrer someone is willing to give you for it

well it will go back up but i don't see it  ever going anywhere over $1000 ever again. Although with all the VC being pumped in you would think it would be more stable.  Also when you bet on Cryptos you need to be ready to be in it for the long hual. It's not for day trader types.

I wish it was just 1 coin.  This was my sure thing so I could stay at home with my daughter.  I feel so stupid.   :'(

i'm holding my bitcoin until they are worth enough to buy a time machine. then I will go back to the year 1635 and hoard all the tulip bulbs

Never invest more than you can afford to lose.
No such thing as a sure thing.

Sorry to hear that  :(

If nothing else, it serves as a reminder as to why the phrase "don't invest more than you're willing to lose" is thrown around here so much. We could be in a downturn that could last several more months or maybe even a year or more. Any prospective investors should be prepared for movements in either direction, and if they think they may need the cash in a year or two, then it's too much.

It will go up again eventually, and when it does, it will be fast. So in the meantime, maybe just put in what you,re willing to invest and forget (like a 401k?) and then no problem.  :)

Always bet along the dominant trend.

This kind of advice is what got Veronica into her trouble in the first place.

Veronica, I have been in similar situation, I can imagine how you feel. But you made a progress - you learnt from your mistake and you cut your losses, although very late.

Bitcoin may fall even lower. In that case, you can buy again - this time doing more thorough full research on what is a good point to buy. this way you may recoup some of your losses - or even make a gain. And do better than hodlers that bought at the price similar to yours. this is probably the last think you are inclined to do now, but give it a thought when you will mourn your loss.

I completely agree. Unfortunately, most of investment "advise" on this forum is to buy at any price - especially when bitcoin is "on sale" a.k.a. falling

despair phase

Do you realize you are referring to a chart that bitcoiners themselves disagree with.

I am sorry for your loss but really ...what was this a SURE FIRE GET RICH QUICK scheme ??

For gods sake grow up ...how long have you been invested 3 months ??

So let me get this straight the get rich quick scheme took longer than 3 months so I am out...like WTF

Never invest money that you cant afford to lose...Equity investors talk about min 2-5 year investment timelines

Buy it back soon, or get left behind:

https://i.imgur.com/ejrTU8r.jpg

You can forgive yourself for losing a couple of thousands, but you will never forgive yourself for missing out on millions.

We are in the eye of the storm. You can choose to sink or ride it out.

Can you please post this chart again with current prices on it.

Diversification. Don't invest more than you can afford to lose into a single thing.

Take me for example. I am a 'bear' around here yet 25% of my net worth is in bitcoin. Most people would consider a 25% investment into something to be ridiculous and foolish. I'm actually a bull but not enough to currently engage in being unreasonably leveraged into bitcoin.

Sure.

http://24.media.tumblr.com/bf2c4724c1d8e822bed865fab9e15853/tumblr_n4s5x4waRg1tw90uvo1_1280.jpg

I will not Lose My Faith In bitcoin just because of some fiat value fall. Some news may have affected the value of bitcoin to decrease, but it’s not going to make bitcoin disappear. In fact, after the issue, bitcoin is gaining value again soon.

It could have been a really bad decision to sell now after the fall, or a great one.  Past performance is not an indicator of the future in many investments, and bitcoin does not break the rules despite what many people want to believe.

The concerning thing about bitcoin is the number of people who believe that increasing bitcoin value versus just about every other asset class is inevitable and assured because of the mathematics involved.  If too many people believe this bitcoin will collapse.  Why?  Because if most people believe bitcoin will continue to rise in value against other assets it becomes a stupid act to spend on services or even trade one for another asset.

OP must be some kind of retard, why even bother to invest something labeled "risky" and then after just couple of months make a panic sell.

It must be hard after all the time you put into getting Bitcoin's use more widespread.

GL OP, see you in one year, revisit this thread and lets see. ;)

Thanks for selling. I'm buying at these levels ($350 <--> $450).

I look forward to waiting a few months and seeing how off you were
With Bitcoins you hold for the longest time
http://www.youtube.com/watch?v=NG1qooBzE2w

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived :)

Truth is, you need at least two bubbles to stop caring about the price.

Pretty much this
Seen two to three bubbles already myself actually think this is a long one more or less but after a few of these you don't worry as much about it
Although a high entry price relative to actual can make people feel that despair even if they made a logical choice
http://www.youtube.com/watch?v=yc6Hp_Zq3rU

So the logic here is because that because a rally occured at a certain point of emotion in the past, it going to occur at the same point again in the future? Is it like groundhogs day and we just keep repeating the same thing over and over?

Well I am responding with videos so I guess I'll put it back here
We got that price going back from the old rate
Just check the chart at the beginning and think about it this is one year ago do you really think its just emotion or if their is something else there
http://www.youtube.com/watch?v=pID03RrmKow

I don't understand. I see a quick zip through a chart and then a music video. Was there supposed be some TA somewhere?

Did you check the price at the start of that video and the amount of days that passed by
It changes a lot in a few months
Were talking about the 1-30 dollar range last year
Price history not even TA
http://www.youtube.com/watch?v=jq57BjBVq7o (Although I might just be having a bit of fun with Zhou Tonged :P)

So basically were standing here having a conversation about why Bitcoins are too cheap at 500 dollars compared to 900 dollars one year from the date when it was only at 90 dollars and asking why it is doomed to fail now :)
http://bitcoincharts.com/charts/bitstampUSD#rg360ztgSzm1g10zm2g25zv

Just find the defense position a bit funny here
YTD is still 550% lol.

Basically same story with the Litecoinguy

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived so three months is nothing.

http://static1.businessinsider.com/image/4c936e777f8b9a7653850800/chart.gif

op, dude, ffs obvious nsa is obvious. get your shit together

-50%, well in such short time as few months, anything can happen. You may check Bitcoin price history graphs, even worse dips happened in such short time before

ahaha ok thanks for the laugh. no really, you are funny. you are about as short-sighted as OP :) have you ever planned and executed anything with a timeframe longer than 15 seconds?

You should not have sold. Buy them back immediately. If it's still at this level at the end of 2015 then consider it.

At least wait till the Winklevoss Bitcoin ETF has floated on the stock exchange (probably around the end of the year / early next year). Here's a couple of hard facts for you:

[1] - cryptocurrency technology can not be un-unvented. It's here to stay and will only grow. eMail took 10 years to really proliferate into widespread use. You are far too impatient.

[2] - Bitcoin is not being replaced. Despite a flotilla of "Alts" storming onto the scene over the last few months, not one single one has even made a dent in Bitcoin's supremacy. Even Litecoin retains its status. The hashpower of the Bitcoin network is now immense, it's only consolidating.

I know exactly how Veronica feels; it seems everything I touch ends in disaster, but unlike her, I'm holding on to the bitter end. I too have maybe invested more than is sensible but not enough to prevent me paying day to day bills. I would never go that far. I think it would feel much worse to see the price at $10k or maybe a lot more & know you'd missed out on a fortune than to lose your original investment. The downside is limited but the upside is not. Nothing else that I know of seems to have the potential that bitcoin does.

You are clearly feeling gut wrenchingly sick.

Back when Bitcoin was up at $1000 and I was actually making money trading it, I always felt as though I was doing something very wrong (morally wrong), and this is exactly what it was. If a clown like me could be making money in Bitcoin, it is only because a whole of other people are losing. Bitcoin is a nasty pernicious and highly manipulated market full of dumb money. No offence but dumb money means you, most certainly your 'hodling' gentleman friend, and when it comes down to it, me as well (most twitchy and reactionary shit trader ever).

As regrettable a position as you find yourself in having taken a 50% + haircut on a trade, you have probably done the right thing, albeit probably only just. The intermediate bottom is not in yet, but I think that the next floor Bitcoin finds will be it. I reckon if you have your capital lined up in buy-in tranches from mid $200s up to $300, then you have a good chance of taking a bite at the next bottom, and a good chance of recovering much of your lost funds. If things go very wrong however, and the bottom turns out to be much lower than this (which it might) and their is no momentous rebound to speak off, but months of apathetic trading (think of masses of jaded Bitcoin investors feeling just like how you feel), you should at least get the chance to take your money back, if not take a small profit. Knowing when to leave the market however, is going to require that you stop listening to Bitcoin Nutters and start tuning in to traders or tech analysis guys who are a bit more on the money. There are quite a few of them around......just not too many that come on this forum.......'arepo' (on this forum) seems to be quite good....but going by the thread started by his subscribers, possibly dead, or in prison.

In fact, this forum is one of the very worst places to for your mind to be if you are trading Bitcoin. Even if you are wise enough to disagree with and reject the Kool-Aid that is splashed around here in copious volumes, you may find yourself 'rejecting it too much' and taking lines of thinking or opinion on Bitcoin that you would have never taken if not for having come in contact with the Bitcoin Nutter. The Bitcoin Nutter is a dangerous animal and should never be approached.

Sounds like the start of capitulation

Why sir, that is outrageous I .... ooh shiny!!!

Don't give up, Veronica! You will win the next round. Feel better soon!

This story has been played out countless times. Someone declared returns were dying and sold their several thousand coins a few weeks ago and it went up 20% between his replies.

https://bitcointalk.org/index.php?topic=496365.0

If I was the OP I'd dabble with an amount that didn't make me sweat or count my future riches. It might end up being a pleasant surprise a few years down the line, years being the key word.  

Honestly I have had an awesome crypto day

I took a 5% haircut on getting back into a ltc pump that i nearly missed with my play money ...i love trying to day trade crypto its like a wildcat on meth....so many lessons so fast :D

I had some guys invest a cool 200k into crypto and these guys where mainstream

i have read the current bacth of coindesk articles and with

GOX 2.0 coming back to be our western standard as any more news about the chinese i will barf

..its goes on ..veronica u mentioned being a loser ..well i agree  8)

This man extolled me to buy $520 BTC around 1 week ago, cos 'Bitcoin really was about to take off'.


This same man states:


Yet he has still not learned one of the most fundamental lessons. Never take a trade in no-mans land. We are right at this very minute, slap bang in the middle of a downward trading range. Bitcoin could go either way based on the whims of anyone with not even particularly deep pockets and Yip Yip is splashing about in these crypto-puddles thinking he is learning lessons whilst the only lesson he needs to learn here, is being totally ignored.

Money was lost the moment you sold. Not when price was going down. I hope you'll be happy with your decision. It's all that matters.

You can see the price in 2 years going to 1500 and still be happy, if you know you're not that risky persons. But the sad part would be if you'd be even more sad than now.

Or you can see it at 1500 and be miserable AND with a loss.

I honestly feel the pain of this mistake already.  Whatever compelled you to buy at $984 hasn't changed.  It's just a bear market at the moment, in a bear market the market over reacts to bad news and under reacts to good news  You've basically managed to ride out a huge section of bear market and endured as much pain as you can, bravo, but don't let it all be for nothing.  Unless you have any reasons why you now think bitcoin will no longer succeed I'd seriously consider buying back in and taking the smallish losses on the chin and keep holding.  It doens't sound like you've made this decision based on any reasons about bitcoin, but rather it's an emotional decision that's compromised your judgement.  Happens to the best of us.  Has happened to me before actually in bitcoin once and on a couple of altcoins (though overall my trading is v positive). Seriously the pain of seeing it go up again after you were so sure about it for so long will be so much worse than whatever you're feeling now.  I actually think we could be nearing the end of the bear market anyway.

OP: You are right.  Feeling bad about yourself, shame in front of your friends is important to feelings of self-worth.  But don't beat yourself up; plenty of experienced investors missed the bubble's top.  Those of us who understand the protocol and believe in the economic change it implies can rely on that during the downtrends -- that is "I'm investing to support this great idea, not just to make $".  If that is not you then learn to hedge your bets.  For example you could buy back with a small amount that you REALLY CAN afford to lose, maybe 10% to 25%.  But tell your friends you sold, never mention this little bit to them.  Forget about these coins.  If BTC goes to 0, oh well.  If it goes through the roof, you'll be able to book a nice vacation or buy yourself something special, and tell your friends, "I guess I didn't sell ALL my coins... ;)", without going into any specifics.

The alternative is the possibility you've sold near the bottom and how will you feel with no coins if BTC hits 5000 in 2015?  Bitcoin has fundamental advantages over gold and fiat currency that make those kind of valuations possible if not necessarily probable.

https://www.youtube.com/watch?v=4Ux2txZxoVA

https://www.youtube.com/watch?v=uiCRZLr9oRw

That's what happens when you get into something expensive without understanding it. Emotional reactions take over.

Sounds like you've been "in" Bitcoin for less than 6 months.

Why sell when you know the years of history it has?

I feel sorry for you but I also don't feel sorry for you.

I kind of wonder if this is real or if we're being trolled. It's a new account, and who would hold for months and months in a bear market and then sell just as the trend line is about to hit the 2013-2014 historical support level? (only a few weeks away)

hilarious :) ty

You'll be kicking your ass and asking why? why? why I sold my bitcoins after few months, yes market is for strong and calm people.

Veronica, you are not the only one. I invested 70% of all my money and at the moment I have a loss of 40%... But HODL!

Buying something because you were told its a sure thing, doing nothing, watching it lose its value and then selling it. Hard to sympathize.

When Bitcoin drop, it means that its time to average down. I have bought some Bitcoin above 500$ and also below 400$ :)

People, she sold ALL her coins. She is completely out. Encouraging her to hang on is like telling a dead man help is coming. She is DEAD to bitcoins at this time. It seems like a weak hand at best, a greedy, get rich quick schemer at worst. Good riddance.

Backing a financial asset with your own capital is not doing nothing; investors are supporting the bitcoin network and at their own financial risk... sometimes it works out for them, and sometimes it doesn't (like OP!) but to say she got what was coming to her because she "did nothing" kind of rejects the entire principle of investing in general.

That's what you get when you listen to the bitcoin salesmen  ::)
 ;D ;D

Sure? Or does she only want to hear "noooo, Hodl!!" from us? If she really sold, she is stupid (if she dont need the money now)... Or it is just a new troll, trying to force people to sell with this panic thread...

I transfered all my coins now 10 mins ago to my paper wallet. Now I´m try to forget about BTC for the summer... lets see what happens when "winter is coming" ^^

She's tired ... after all it's not easy battle  ..

Donna Summer - Breakaway
https://www.youtube.com/watch?v=SN7kyRdyktQ

Great lesson on investing then. In many ways. That there is invaluable, no need to be upset.

Second Market has been buying all the way down with increasing volume through April.

OP is clearly not an investor, and clearly does not understand what Bitcoin is. It's a shame to see these kind of people attracted to it. It makes the unenlightened scream "Ponzi!" or "tulips bulbs!" over and over through each retracement because they don't understand the full potential of distributed consensus and appreciate the value of the hashing power and infrastructure of the first mover. They also lack the will or competence to see the long term trend.

I can't say I have sympathy for these folks. Feeling entitled to become wealthy without at least performing due diligence is insanity.

Good to hear that Second Market have been buying at these lower prices.

In case you care to follow: https://bitcointalk.org/index.php?topic=337486.0

If you paid $984, you obviously bought very recently (less than half a year ago).

Do you realize that anything less than 2 years is insufficient to be considered holding?

Bitcoin survived a downtrend of over a year and a half (2012) when weaklings panic sold their $30 coins for a third or less than what they paid.

If they'd had the courage to hold for at least 2 years, they would have realized at least a 100% profit even during capitulation down to $66.

If they'd waited 2.5 years, they would have realized a gain of over 1000% even during the recent capitulation below $400.

Bitcoin has never had a 2 year downtrend. Selling during a temporary low is about the worst thing anyone could do.

It sounds like you got scammed by the bull trolls who want people to lose money by selling their coins cheap and spam their FUD in hopes of cheaper coins. Shame on them, but shame on you for listening to them and actually taking them seriously.

Seriously? Did you think it wouldn't be extremely volatile? Did you never view your holding period as anything more than extremely short?

If you're not willing to hold for 5-10yrs, and understand that you could go through periods of being 90% down, then you are unfit to hold bitcoin (or any non-large-cap stock or bond, for that matter) as an investment.

The sooner weak-handed (weak minded??) folks such as yourself leave the bitcoin ecosystem, the better.

I do hope this experience spurs you to learn a thing or two about reasonable investment mindset and expectations, though. But please - don't come back until/unless you do learn.

Tis a sad day when a lass abandons ship  :(

Don't do that

Sell 0.75 BTC for cash and 0.25 BTC for NMC

NMC behaves like a BTC option - should BTC go back to 1000, NMC may go from 2 to 10 or more

That way you can extract cash and stay invested

it's even sadder some of the replies she has been given; I'm sure she's annoyed enough without basically being told that she's stupid & not to come back until she has learned more about investing. Just my opinion but I don't think comments like that help anyone.

Some people have gone too far but the message should be the same. You can't wrecklessly and greedily invest money in something hoping for a get rich quick return. Do your homework, research about investing, research about what you are investing in. These examples provide incentive to why its absolutely necessary.

I think it was silly of you to sell all your coins I think the price is just "low" for the time being.  Think back to why you got into BTC and ask yourself what has really changed?

OP was strong, realized and accepted that the initial advice received was bad, had bad timing and wasn't the right thing for OP.   Better to cut the loses rather than suffer emotionally for much longer.

Stage 5 - Acceptance.

Everyone else in this thread - Stage 1 - Denial.

I still think she should have held on to even a tenth of her coins. If things go well, they could one day have covered her other losses.

all the people that bought on top of previous bubbles felt the same pain you experienced. the ones who resisted and did not sell are very happy about it now. a theoretical loss of 50% feels ugly as hell, but a realized loss in an asset, that came back to new ath may turn you in a hateful person.

i started to get involved in btc in 2011, but i really put in almost all my money in may 2013. a few weeks after my move the price was down more than 40% - i felt so stupid. i will never forget how it felt.  the only reason i did not sell was, it was such a big loss, i just didn´t have the guts to realize it. i still believed in the superiority of bitcoin, and i still thought it was a great invention but i learned that those things may not matter when price is going down anyway. when i invested i was so confident about it that some people around me also started investing. being the reason for their loss made it even worse (they are rich, so i knew they weren´t hurt, but i was anyway ashamed)

but then came september, october, november...

you somehow managed to get through the (hopefully) bottom of 339. why give up when we could be behind the bottom ? i really know how you feel. i would buy back at least 30 % of your coins if you do not need the money desperately and wait a year or two. be prepared to lose it all, write it off in your mind.

there will be another november. the bitcoin economy is so much bigger than 12 months ago. all this gox/china/ fudquaketsunami will be over with sooner or later.

i would really like to invite you to THE PARTY when it happens....

My 200 ltc day trading account is exactlty that ...for fun ..btw day trading crypto is friken insane ...there is nothing more volitile and whippy than crypto

So I treat it as a fast track learning experience ...so far i have been playing with my 200ltc for teh past 3 weeks and i am down about 5 ltc ...i would be intrested to see how u would fair fatCat scalping nearly everyday in the current market ;)

Also so that we are talking straight ...it was sub 500 ...I am totally fine with any position sub 500 ...most of my recent positions average around the 450 mark with the highest fill being 510

I have absolutely no problem with any of these ....200 or 300 dream on ...you may get a flash crash but the world you are looking for I doubt it will appear...it may but i dont see it

You have to be to cool for school to get absolute bottom and its mostly for textbooks and hindsight

Also I am a believer.... have been since day 1 ..i have created 2 instruments to allow mainstream investors to enter the market ..I am totally "ALL IN"

Working in teh banking sector for the past 10+ years & programming the last 20 years I know a good thing when i see it in my filed of XP ..I have been in meetings @ the bank and they are Sooooooooooooooooooooooooooooooo scared of cryopto as they have already experienced the pain from paypal

Its all about control ... did u know that paypal has over 35-45% of all retail transactions.....

...so lets see where we are in 12 months ..even Veronica would have a smile on her face

Take a happy pill Matt and take a position :D

This is a problem with you as far as I can see.

U are on fkn happy pills and/or ten cups of coffee per day.

It fucks with ones judgement don't you know?

I am more of a hookers & cocaine type of guy :D

Reading this thread makes me sad for the OP.  No one that has held bitcoin for at least 24 months, regardless of what they paid for it, has lost money.

A lot of spectators, even bitcoin owners are starting to feel as if the price of BTC has seen it's top.  They also believe that the vast majority of the world's population has in-depth knowledge of Bitcoin and all of its advantages, which is grossly overstated if not just plain wrong.  The opposite is true, the vast majority is completely oblivious and has never heard of Bitcoin, yet.  Of those that have indeed heard of Bitcoin, the majority of that subset don't have enough info or the correct info to make the decision to buy some, or are not in the position to buy any (i.e., broke or no access to an exchange, etc.).

It's estimated that there are currently only 2-3 million people WORLDWIDE who actually own any bitcoin at all.  By contrast, the population of just one large U.S. city, like New York, is ~8.3 million people.  Imagine what happens to the price when suddenly tens of millions, even a hundred million people around the world eventually want to buy some bitcoin.  This could happen faster than anyone could imagine.

Yes, very sad.  :-[

All she had to do was hold for a few more months, in all likelihood. Things will pick up again, everyone who has been around for at least two bubbles knows this well. Right now bitcoin is similar to the automobile in 1900. It's not even close to saturation... only a select few have the knowledge, drive, and resources to join in the system. That will change soon,

this is very true, considering 10 million new users would be competing for a minority of the coins that exist, as many are hoarded/destroyed and will not be sold until many years from now.

the wonders that ahttp://genuine 10bil market cap would do for bitcoin.....

patience is a virtue. it's been at this level for how long.. 2-3 months?

There are more people in Shanghai than Bitcoins in existence.

Agree 100% pinksheep. So much anger and negative bashing.....

Yes, it is sad. I feel pity for her. I wish she would change her mind and buy back in. At least 50 percent.

I think that the anger is unfortunate and unwarranted.  But the issue is deep.  You see, to some Bitcoin is a repudiation of the implicit right of the state to meddle in financial affairs.  Like regulating who is an "accredited investor" -- which can be seen as giving the best opportunities to the rich.  And regulating the free issuance and exchange of securities (GLBSE, MPOE, etc was/are all bitcoin-based unregulated stock markets) -- which can be seen as limiting individual entrepreneurship.

When someone comes in and basically justifies this regulation ("I bought because someone told me to, now I'm selling for emotional reasons"), it invites regulation.  In other words, it looks like this person's finances really do need protection from herself. 

The last thing we need is this person and 1000 similar on CNN.  The state has its highly protective system; if you like it stick with it.  We have ours.  If all the fiat rules and regs are applied to Bitcoin, we are left with something quite similar to fiat with all its inefficiencies and overhead.  Whatever you think about Cryptocurrencies or fiat there is a strong argument that a diversity of systems is better than the same system repeated.  For example, if the USD fails, central banks all over the world fail.  They are all the same system repeated, and interconnected... this is a very bad situation to be in.

So people who like the "opt-out" nature of Bitcoin get protective and suggest that that person GTFO.   

Yes there must be more support and comforting when somebody was going to become rich in three months but got bored waiting and became poor instead. Let's encourage this emotional behavior! Let her try forex next time with all her money with a 1:100 leverage, a sure way to become rich...

The only helpful comments are the ones which hurt. Maybe will make her think next time, because there will be more next times in life.

Check this out: https://bitcointalk.org/index.php?topic=413064.0

Anyone who held beyond this point literally bent over and asked for it.

I think with Bitcoin the hardest season is right after the first purchase.  We purchased right before and well into the first bubble in April last year.  It was a very long Summer and we were under water for most of it.  The hardest part was thinking if we hadn't bought into the bubble we could have bought more coins than we did.  I think that was what hurt the most.  Of course November came and it was great and I was very glad I held on.  I think having been through this a year I have a little wisdom and have learned from experience how Bitcoin works.  Holding is the hardest thing to do, especially when the person has purchased the coins towards the peak of a bubble.  The best thing to do would be to buy more on the drops, if the person has any fiat left, or just ride it out if not.  But it isn't easy for sure.

My advice to Veronica now would be to just buy back in as much as she is willing to risk and ride it out.  We will have another bubble.  Didn't Barry Silbert at Second Market "guarantee" it?  ;)

Amazing, there are trains in the thread. People have been posting pictures of trains since all the way back on Jan 15 (or earlier).

Hi OP, please forgive my English skill because I am not a native English speaker.
Would you please try to look at this way, when you bought coins you are actually investing into this Bitcoin community. In this community, we have different kind of person: trader, holder, entrepreneur, etc... They all provide different role for this community, trader provide liquidity, holder provide stability and entrepreneur expand this community. When someone else sold coins to you, the capital they got from you may be used to conduct further trading activity or starting a new venture. All these kind of activities make this community more mature and stronger.
In my opinion, the falling price of Bitcoin actually make more people cash out and doing some real world works to make this community even stronger but you need patience to wait and see the result. You have every right to quit from this community, the money you loss is actually a contribution to this community and make it stronger.

Wait.   You feel stupid because your powers to predict the future have told you that BTC will never go above $900 again?

Really?

Its logically impossible for you to feel stupid right now.  Because you can't see the future.

-B-

Right, is sad and all. But we need dumb people like this. It's all part of the ecosystem. They contribute to volatility which attracts traders which besides driving the price up spreads the word. So thanks for helping the good cause, and better decisions in the future.

I think you've made a mistake. Is still to early to call Bitcoin a failure. Also when you invest in something you should have patience.

For quick gains you should try roulette and bet all in on either red or black.

I am a fan of BLACK ...its works 50% of the time 100% of the time  :P

remember, that those with buying power prey upon those who fear a loss.

I was all kinds of excited when I read this post also haha.  What a comment indeed.

Would anybody at some point would like to explain OP why price will rise one way or another? (instead of just telling HODL without explanation)
Thanks!

P.S. are you aware of next bank holidays which will sum up to 4 days of no fresh fiat to exchanges. .. I say we might go even more down so good time to rebuy :)

Too bad you've given up and sold at a loss, but reading your story it seems you were into Bitcoin for the wrong reasons in the first place. The market likes to punish people who think Bitcoin is some special kind of lottery with a 100% chance to become a millionaire in a couple months or years. I've been where you've been as well, but I have a different kind of mindset when it comes to this interesting piece of technology and I am fully prepared to lose everything I have invested. :)

Buy low, sell high.

What part of that is hard to understand?

this thread will be used as a gauge of when to buy Bitcoin.

Mark my words and let's see in a year how right I am. ;D

apparently someone is buying high and selling low

holding here mean a tleast 6+ months, can you hold that long? if not then this whole plave isn't for you

That's exactly what I did. When the price fell I bought more which brought down the average price I had paid for my coins. And I was fully aware that it would be a rollercoaster ride when I got involved but I knew even then that no matter how low it went, I wouldn't be selling.

Averaging down is many times a bad strategy. It does not reduce the amount of capital you have actually lost already - only in your head. Then it subjects you to more risk, and you are making an additional purchase into a downtrend.

I'm fully aware of that but at the end of the day 'you've got to speculate to accumulate'. If I'm wrong, I'm wrong. I got into Bitcoin as it seemed to offer the possibility of higher rewards than any other investment I can think of. If there's something else with better potential, please let me know :)

OP was right to sell out, tonight or tomorrow bitcoin will start dropping and not stop until it hits 10$.

It's all nice to shout he doesn't understand bitcoin if you op out and all, but understanding bitcoin won't buy a house or bring bread onto the table :)

so young and already on ignore...

If you are so sure, bet all you have with the highest leverage on bifinex ! Quick! Sell sell

So much trolling in this speculation thread

But, understanding bitcoin might prevent you from making such silly posts

And if it does not, can you please cut off your typing fingers and eat them? Video would be nice too. It's people like you with your silly FUD who lead sheep like OP to stupid decisions & consecutively more pain. So please, rid the world of yourself.

No, they can't. All they can shout is HODL and give cherry picked examples of how the bear trend is over and Bitcoin is about to go through the roof. Exact same thing as they have done all the way down from the OP buy-in price in the $900 range, as I am sure she is painfully aware off.


Sorry, but you have little more than 6-8 weeks for Bitcoin to hit $5000, otherwise Bitcoin proves how wrong you were.

My call that got laughed off the forum when I first made it was Bitcoin to $200 range. We have already came within $40 of that coming good and the night is yet young.


@ OP:

Listen good OP, get buy-in tranches set up in upper $200 range. No guarantee that this is bottom or that Bitcoin will even break down this low, but if it does, there will be a good chance of making some of your money back on rebound and even if Bitcoin goes much lower, probable worst case scenario is that you break even on rebound.

Take no heed of the mealy mouthed arseholes who are basically saying you deserve your losses for 'only getting into Bitcoin for material gain'. Bitcoin stopped being a 'libertarian cause' and degenerated into a blood thirsty shark infested fiat feeding frenzy quite some time ago. If you deserve your losses for any reason at all, then it was for listening to and believing the fairy stories from the very same category of Bitcoin Nutter that is reprimanding you now. Bitcoin is the ultimate gambling roller coaster. Don't allow yourself to be shark bait (again), don't take any trade that isn't at an extremity of trading trend and be ready to drop it in an instant should it start to smell a little bit foul.

If you're a long term investor who doesn't daytrade why wouldn't you take the chance to average down when possible? Unless ofcourse you've already reached the limit of how much capital you were willing to risk. It's like dollar cost averaging but instead of investing a certain amount at fixed time intervals you're just waiting for dips to buy more to lower your average buy price. Don't see anything wrong with that, but I wouldn't use this strategy for any other type of investment though so Bitcoin is kind of unique in this respect I think.

Because if you really believe that it will be worth (much) more in the end, it's not even doubling down, it's just getting bargain buy-in prices. Unfortunately, you first have to believe, and to believe, you have to understand; so if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses. That's why I would not recommend for OP to ever buy bitcoin as an investment before (s)he understands.

I really believe in what bitcoin has to offer. However, if the governments crack down hard on it, it may never realise its potential :(

AHEM!



"if you just blindly follow someone's advice you are destined to doubt, fear, and consequential losses."

If I may direct everyones attention to the highlighted text from piramida below. A Post he made when Bitcoin was still trading in $1000 range on Stamp and I was selling some Bitcoins at a loss.


Piramida is of course far from being alone in this sort of delusional thinking, but this is representative of the sort of advice that is in perpetual gross surplus on Bitcoin Nutter forums like this and noobs have to be on perpetual guard against.

People can choose to take whatever advice they want, it can come from piramida or jr65 or anyone in between.  Such advice may or may not work out well.  In the end we're all adults, and if I hodl through a crash or sell before a bubble, it's my own damn fault, not those guys.

Mat calm down, take your pills and a cold shower, you are reacting like a child who caught his dad dressing as Santa. I still stand by every word I wrote then. You just never sell bitcoin cheaper than you bought it, because you will regret it later. The only reason I even started giving you advice is because you pretended that you are a pro trader when you arrived, obviously I understand now that it's not true. My advice to noobs in trading, like OP and you, would be only one - stay out until you understand what you are doing. And if bought already, hold tight.

That is, by the way, also what I said to you when you were getting out at $200 in November saying that it will never go any higher and will implode any moment because of <insert some FUD that you were scared of then>. You lost about 600k usd of unrealized profit on that trade alone, provided you said the truth that you cashed out 100k then. So if I were you, I'd listen to me more closely instead of going into denial.

Though I am far from a pro trader, I know that is not entirely true. There is such a thing as cutting your losses.

Example, if you bought at $600, price is falling and you know it will hit $300 before a bounce, it is better to sell at $500 and buy back closer to floor than hold all the way.

Of course if you don't know/have an idea of where price will go it is better to hold, as there's a large chance you'll miss the knife entirely that way and only make your losses worse. But for a decently competent analyst, cutting your losses and making the best of the situation is better than stubbornly holding throughout and refusing to sell at a loss.

I don't regret it.

I never pretended I was a Pro Trader. I may have stated that I 'knew' Bitcoin was going down. But as I have made clear many times. Anytime I 'know' something about Bitcoin, then it is cos I dreamt it.

Right now I 'think' Bitcoin is going to $200 range. But that isn't the same as knowing that it is.

Thankyou Please.

How do you know? The whole point is that nobody knows exactly how the far it goes, both ways; but from below it's limited by $0, so upside is much higher. It still makes more sense to hold through a temporary loss than to get left behind.

So Mat, what do you think will happen after it hits $200, where will it go next in your opinion?

Mat is known for his dead on predictions, like this one here:


I was trying to find the post where you claimed that you are a pro and made shit ton of money, but can't. Did you delete it Mat? Too bad. Anyway, good luck next time :) Don't forget to get on the train.

Can't wait to see your face when the value hits $1,000/BTC again.

Haha, I remember that guy from trollbox. He was successfully trolled by LitecoinVictim aka fonzie. I hope he didn't sell, I was advising him not to do it then.

I did make a shit ton of money at first. I never even knew what a MACD was back then but now realise that in an inflating market, the odds are in the traders favour to make money. Since Bitcoin went into recession, I made a few big wins but would eat away into my profits with lots of silly impulse driven trades, usually leveraged short and long. My most recent trade, a leveraged short right on cusp of manipulated short squeeze...was a kick in the teeth. Bitcoin has since touched my break even level on that short trade as I knew it would, but also strayed 65 cents beyond my position liquidation level. For 2014, I have to confess that I am now well into net loss territory in Bitcoin.

Trading in inflating market = easy

Trading in deflating market = hard

So there you have it. I am not a great trader and trading is something that I am going to have to quit. What I do have is an ability to tune into a Bitcoin on an intuitive level. This entails taking a long position and 'sleeping on it'. 9 times out of 10, within a couple of nights I will get a dream or intuitions will otherwise come to me on the pending fate of Bitcoin. Last time I done this was when Bitcoin was at $490:

https://bitcointalk.org/index.php?topic=581956.msg6361758#msg6361758

Intellect, FOMO, and consequently mal-influenced TA was telling me that break out to upper $500s could be on the cards, so I bought in. Subconscious intuition brought me out and same price level the following day. Bitcoin has since fallen up to $70 lower and is currently $45 lower than my cash out price point.

EDIT: I noticed you dug up a post of mine from April 2013. Well done. I refuted that $100 Bitcoin was a fire sale price. What price was Bitcoin 2-3 months down the line? $60? So even that I got right, albeit only through a fluke as back then, all my Bitcoins were for Silk Road. Wasn't 'invested' in it a single bit. Didn't have the slightest clue about markets or investing back then.

Technical Analysis, while probabilistic, can more often than not give you fairly accurate price targets and predictions. As long as you account for this probabilistic nature and have reasonable margins of error, there's a good chance you can use the analysis to make a profit. Especially, as Mat (I think?) so eloquently put it, in such a sentiment-driven market filled with noobs and clueless "hodlers" as Bitcoin, making price movements all the more predictable :)

I can agree that it may be possible to predict movements in this market once you get a good feel of it, but only on a long intervals - like a year long; I didn't see (m)any people making profit doing daily trading here, only some pros on midterm (month-long) trends. For the rest, and that includes 99% of everybody else, long term holding is a much more financially solid advice; selling a little into rallies (like november) buying after crashes (like now) to make some profit.

You still never had to sell below your buying price; if you do, it means you are doing something wrong.

OP, if you're still reading this thread:

Your goal of making gains on bitcoin to change your life is a good one. But you should look at your bitcoin as a medium-term gamble instead of a short-term sure thing.

Personally I still think there's a lot of upside in bitcoin over the next few years. If you agree, consider this strategy:

1. Figure out how much money you need to bring about the change you want. $10k? $25k?
2. Figure out how much you can afford to bet on this gamble and buy that amount of bitcoin. Move them to offline storage.
3. Consider that money gone permanently, as if you had spent it on a vacation, or lottery tickets, or whatever. It's not "invested", it's gone.
4. Continue to live your life. Check your bitcoin holdings once in a while, not too often.
5. If your bitcoin has reached your goal value from step 1, sell immediately. YOU WIN!
6. If not, wait a couple months and check again.

While you're waiting, look for other ways to achieve your goals without bitcoin.

Are you accumulating tens of thousands of coins or something?

Why would I have to be accumulating tens of thousands of coins for it to be considered speculation? Owning 1 coin could be considered 'speculating to accumulate'. And I can assure you I will never have tens of thousands of coins, nor hundreds, nor even dozens.

Hehe probally will be right anyways interesting to see this thread still going

Where did Veronica go? If you're reading this, it's not too late! You can still buy back in and join in the next epic rally!

You might want to wait another week or two (we'll probably test $400 again) but the pennant will be breaking out shortly thereafter! Come on, you did not hold your investment for five months for no reason, did you? Like Warren Buffet said, "Investing is designed to transfer money from the Active to the Patient."

She's maybe so digusted that she'll never come back to this forum or want to think about bitcoin ever again  :( but I agree she shouldn't have sold all her coins. Even 10% of them could recoup her original losses if things go well.

Pretty much this small holdings can grow quite large and even a tiny stake could do the trick if you have the duration to hold it and the good fortune to see it come to fruition

Dude ......

Actually its ATH by July 31 & 2-5k by the end of the year ...so 8 weeks for 1150 not 5k :/

And while we are in teh land of correcting slight inconsistency's ...on what planet did we hit 240 ???   ..I had 349 as the flash crash that lasted for 10 mins on stamp

Word on the street is the final CHINA drama may play out this weekend ..so lets see ..I think we are done with it and as stated previously the simple solution is to move to HK

Also Veronica if u are listening ...sell your daughter to the white slave trade and buy her back in about 8 weeks ..its a sound investment and will give her some good life lessons in the value of investment & HODL  8)

Who is the "gentleman" who told her to HODL from $984?

You come across to me as permanently hyper. That is why you have the concentration span of a goat, that is why anytime you make a good judgement, it was a fluke.

You are last person that I would take Bitcoin call from. I just want to let you know that.

And I never said $200, I said $200 range. If Bitcoin hits $299, then I am right.

Ok ... but at this stage your are WRONG ...lolz

Good judgement ...really ...lolz ..you would have to be blind freddy to not see that bitcoin as a mid-long term investment hits a very high reward-risk ratio

Bloomberg anouncement is really cool and just the start ... There is a difference in that I believe in crypto as a movement not just a investmnet oppurtunity

I dont have 38 rigs using ~40kw an hour because I am slightly intrested in making some short term profits

I see what could be and the future is very bright ...already crypto has been very kind to me and to be truthful many people would love to have an oppurtunity to apply themselfs and are really looking for that "THING or VEHICLE or BUSINESS" to do it...riding a bike in the rain in the middle of the night to go fix a rig that had shutdown has been just some of the awesomness that has been crypto  ;)

People look at successful peopele and think they just had the right oppurtunity at the right time ... the reality is further from the truth ...mostly it would have been hard work & hardship & determination ...nothing in life is given ..everything needs to be earned that has any real value

SO now is the winter but I can see summer just around the corner ...Put yourself back 12 months and in hindsight how cool would have it been if you invested when it was 30,60 or even 110

This will be the same conversation we will be having in 12 months..Its either going away for good or its going ALL THE WAY :D

You need to look past the lip of your coffee cup ...

Bitcoin will go way higher than 1000 Dollars. If you don't believe this I hope you sell out now for a loss. More for the rest of us. Thanks.

Right, it turns out that 984 was pretty close to the global high, that doesn't mean there isn't a new global high coming.  I considered selling when we hit that price, but I only have a small amount so I figure I'll hang on for the long term and see what happens.  Sorry for your loss, hope you had a fun/educational time.

I think Veronica26 should keep trading for everyone to use as a technical indicator.  Buy when she sells, and sell when she buys.

That would be interesting since contrarian analysis is to do the opposite of what the main market is doing so technical analysis means we should buy now if she is selling :)

I believe so too.
Think about where it is today versus where it was May 1st of last year...

Better to sell now, than for a month,

http://img835.imageshack.us/img835/9904/blt7.jpg (http://img835.imageshack.us/i/blt7.jpg/)View Screen Capture (http://img835.imageshack.us/i/blt7.jpg/)

igorr, your English sucks.
Пo-pyccки: твoй aнглийcкий xy*в и yныл

but why she did gave up ??

we just started a golf-ball discovery script-programming

Welcome to Urban Golf
https://www.youtube.com/watch?v=8ryE863m4no (https://www.youtube.com/watch?v=8ryE863m4no)

lol,

shame  :D

Lol, nice one

Your trading range is so large and starting at the peak of Bitcoin's value.  Not an accurate indicator at all

No more MtGox, no more any raise the price.

same patterns among many cryptocoins ...

http://i62.tinypic.com/jhsk69.png

I am sorry you lost money.

There is no such thing as a sure thing.

Many others have already pointed out other cliches of investing.

It does seem odd that you registered just to post this.  Maybe by being an active member of the community you would have understood the risks and potential of bitcoin.

No one knows what the price will do next, but if you look at year on year data bitcoin has usually been higher.

Good luck to you and your daughter.

lets map the pattren the fiat fallows


/\
  \ <-- you are here
   \
    \___
          |
           \_/\
                 \

It's unfortunate that those who subscribe to the "hodl" propaganda believe that their best interest is being promoted... it's not, and deception causes quite a painful wound. The only reality that's worse than what's displayed in this thread is that there are hundreds, if not thousands, of more "Veronicas" out there that have yet to come to her recent realization.

That's backwards. The Winkelvoss Bitcoin ETF is a dump, not a buy. They bought the Bitcoins a long time ago. The ETF is a way to sell them.

buy high, sell low. Well done.

According to your previous predictions bitcoins should be worth -$10000 by now

there will be only 21 millions ... only about 1-2 years ago bitcoin had emerged from underground to general media, academic, etc ... we still a small community, and 6 billions capitalization not represents what bitcoin can be in the future ...

Any chart says we are on a bear market.
Great to see the perma bulls bashing the girl for her "weak hands". See how much are losing the people that bought litecoin, novacoin and all the other old alt coins at top and are holding. Keep holding, saying to yourself "I won't lose anything until I sell them".

yep..like poker ... sounds like you got a medium pair on your hands, you didn't see the flop but other guys raised half of your stack pushing you to fold ...

The permabulls:
They buy, with sacred faith, screaming like a kamikaze "to da moon", the ones you want to sell, no matter the price.
Then, since they are very strong people, with very powerful hands, they hold them, even against all trends. They hold and hold, even losing 80%.
They are always the last bulls standing. So, when they finally give up, losing 90% or something, they easily sell their bitcoins to you on the bottom. You see why it has to be the bottom? When even the perma bulls give up, almost everyone is a bear and, therefore, almost all the people that were willing to sell, already sold. Since there are fewer sellers, the price has to go up...
How nice are perma bulls, they help us on the top and at the bottom :)

https://i.imgur.com/XB8boHR.gif

hell sounds like a movie about train I saw another day called ... 

Snowpiercer
https://www.youtube.com/watch?v=pek2kRn-gV8

even sounds like some sort of caste system ... pumped by religions or others social systems

You say this like you have experience. What market have you ever seen this scenario play out?

Bitcoin, 2011, at 2 usds, after crashing from 32.
Besides, we can learn with the experience of others: google Buying Stocks When Nobody Wants Them

yep any. besides all the charts where you can see a full picture i.e. long term ones.

We are still on a bull market, even after dropping from 1156 to 336 (bitstamp), with BTC-e and Bitfinex hitting 100 (ok, because of closing of longs, but it's on the chart)? I guess that even if we go back to 251 (top on Bitstamp on 10/4/2013; or even 100 usd) people will insist on the long term. In the long term, we'll be all dead, as Keynes said. If there is a median term bear market, I think it's wise to jump out.
The Op sold a little late, but if she doesn't give up and buy again after a change on the midean term trend, she can end up in profit.

Just hold! Bitcoin has gone through these bubble cycles at least five times now. With the current level of awareness and holders compared to 2011 in mind, we must be at the bottom of the current cycle or near to it.

God damn... you'd think people would learn by now.

http://www.reactiongifs.com/r/wwyp.gif

I bet there are some people reading you, hodlers, and thinking "Hold now for me the bitcoins you are going to sell to me at 251 or, perhaps, much lower, after you wake up too late of your bitcoin fairytale"
But I'm going to write only that on a market, keeping the same opinion no matter what happens, no matter how many support levels are breached, is a dangerous perspective. Sharks love people with fixed ideas. Usually, they only change them on the wrong moment.
And if you, my dear reader, think that by writing this I'm hoping to influence the price down, you must be thinking that I have you in high regard (as a bitcoin big whale) and that I have my words on an even higher regard. I don't. We are what we are and words rarely change our behaviour. I'm just criticizing the perspective. Holding if the 380 and the 339 gets breached is a serious mistake. Will they be breached? I don't know! I just know we are on a bearish trend and there is a serious risk that this will happen.
Like you, I do believe in bitcoin on the long term. I just don't believe most hodlers will sustain the pressure if this slow motion ends and we start seeing big moves on the wrong direction. So, they are going to sell too late.

There is only one support level, at $260, wake me up when it is breached. Before that, unsubstantiated panic selling or gambling, but nothing to do with investing. And believe me, most hodlers do not even consider this dip to $400 as anything remarkable but a nice buying opportunity.

The previous top on 10/4/2013 at Gox was 266, but the Gox levels are unimportant history now. The top at Bitstamp in April 2013 was 251. That is indeed my major support now. Ignore the already breached 380 major support on Bitstamp at your peril.

Complete fkn delusion on toast! BTW. we have two more days to break out above $500 like you assured everyone that Bitcoin would. Seems that a break below $400 is more likely but nevermind eh?



Up until recently, I had a compulsive Bitcoin gambling problem. 'Compulsive Gambling because I would look to take a trade at almost any point I could delude myself into believing was an opprtune moment to take one. This meant along with my 'wise' trades where it was clear to me that the writing was on the wall such as calling Bitcoin definite short from $520, a trade I never took cos I am 'off it'; I made lots of little crappy trades that I would drop out of when the market started to go in the wrong direction. Stupid fkn trades that would nibble into my profit levels. However, the one thing I noticed with 99% of my losing trades, is that had I only held out for a few days or even a few hours in some circumstances, then my losing trades would generally have turned into winners, or at least break evens.

My last short was about two weeks ago at ~$420, after the bounce from $340, with maxed leveraged. Yeah, I knew I was chasing missed opportunity (I had a dream that Bitcoin was about to take a landslide but was on holiday so never placed the trade) and I knew I was chasing the market, but since I was convinced of Bitcoins overall downward trend, how could I possibly lose if only I had the nerve to hold out until the trade came good?

• Bitcoin dipped back down under $400. So far so Good.
• Bitcoin bounced back up to just under my buy-in price. Bounces are to be expected. Trade was still good.
• A flood of 'buying power' on Huobi pushed price up to $440 very quickly. Lying cheating fkn Chinese manipulating b'stards! That is me in the red.
• More buying power on Huobi pushed price up to $470. Urghhh. Still, stick to my guns and everything will come good.
• $495 now. Holy shit, this is standing to be the biggest trading loss ever, but stick to guns and everything will come good.
• Again on Huobi, buying surge (read hooky short squeeze) kicks in, Bitcoin up to $520. Holy fkn shit! around 60% loss on capital. Point of complete liquididation comes at $546.67!

Am now in seriously in sweating blood mode. What to do? What to do? Go have a shower. You are gonna hold it, you are gonna hold it, you are gonna hold it, you are gonna hold it. Bitcoin back down to $495. Cool, sell 5 BTC to raise liquidation price to $565. Bitcoin goes back up to $512! ATERDHGADFHGAYDSFGH CLOSE TRADE WITH MARKET ORDER!

That is a reverse example of the psychology of a holder with a fixed idea in their heads. It was the first time that I have ever traded Bitcoin long or short with a 'fixed' idea in my head. Usually I am guilty of bowing out too quickly to counter trend winds, so this time, I vowed to 'HODL my SHOTR'! And that is what Bitcoin does to concrete minds with fixed views or objectives. The fact that Bitcoin hit just a few cents above my original position liquidation price (Bitfinex to $547) tells me all I need to know about the trading philosophy I adopted for just this one trade. As I type, Bitcoin is right back down at my 'break even' buy-in price. Even as I closed my position, I knew that I was closing my short on a fantastic shorting opportunity. But such are the psychological pressures of holding out rigidly against the winds of the market. Everyone is liable to make the same mistakes and will make the same mistakes. I endured just a few days of the market going against me (max leverage never helped and neither did the psychological conditions of losing 100% of funds in Bitfinex trading account). Some around here have been holding Bitcoins for months. Many thought they had hit the jackpot only to find that they are now treading water. Many others are now underwater, still praying to their god HODL on a daily basis but with the winds of the market blowing into their faces the whole time.

When Bitcoin breaches $380 (again) and then $340, plenty people who vowed to hold their Bitcoins, will actually impulse sell their Bitcoins, knowing that they are most likely making a grave mistake over the long(er) term as Bitcoin will surely bounce back up higher sooner or later, but who are simply unable to take the psychological pressure of the chance of 'losing it all'.

Your right a lot of people will sell their coins but only to buy back more. No doubt the majority will buy high, sell low, rinse and repeat as has been the case forever.

Meaning, it is not enough to be a permabull - you have to be the last standing permabull.

We'll see. I am not a psychic to see where the price will go at which exact date, but in my opinion 400 would hold and rebound above 500 will happen "soon enough". I would not bet anything on it though, but that is my understanding, that's why I'm buying at low 4xx.

AGreed

To be fair we have tested & retested the 415 support line ...many many times

Your fantasy sub 300 still has not come to pass ... go hungry bear boy :D

 ???

Ever heard of patience?

I remember advising n00bs not to buy in in $800 range, asking them to imagine how they would feel when when Bitcoin was trending in $400 - $500 range. That was around 3 months ago. A long time in Bitcoin world. At the time, I was pointed at and laughed out the place, yet here we are 90 days down the line. Trending in $400 - $500 range with the next leg of significant trade volume looking certain to take us down into $300 - $400 range.

Just a couple of weeks ago you were enthusing that the rocket had lifted off and advising everyone to get $500 range tickets whilst they were still available. I would have thought that with the price action since then and the ultra negative looking state of pretty much everything, that you might have laid of the Kool-Aid a bit by now.

I last stated in lower $500s that if I hadn't banned myself from shorting Bitcoin, that I would short Bitcoin. Even now at $430, Bitcoin is still a good short as sooner rather than later, we are definitely going sub $400. What happens in the $300 range is another matter but I believe that we will ultimately see $200 range. When he have hit some resistance in $300 range, I may take a long position, sleep on it, and see how I feel about Bitcoin after a bit of subconscious pondering.

Exactly my point. Better late than never. And she sold above the current price :)

As Swift wrote It is useless to attempt to reason a man out of a thing he was never reasoned into.
Permabulls are permabulls, it's all about sentiment and hope.

During the coming uptrend, which is a continuation of the past uptrend, and which will last maybe 5 years, maybe 10, maybe more, there will always be a large number of people who think they are too late. This is probably the main reason why there is a stretched out uptake, even after the point that everybody know what bitcoin is.

Totally AGree that if we spent a substantional amount of time @ sub 300 the wheels have fallen off and crypo will start to cannibalise itself from the inside out

May happen but I think the % chances of this happening are low ...sooooooo much really good infrastrutural news coming out of the last 4 weeks & VC capital flowing in ....

We will reap the harvest SOON :D

:facepalm: please sell your house and follow your "good short" advice. Maybe we won't have you typing here anymore then :)

+1

The supply of coins is constant no matter what the mining cost. Even if miners cant make a profit and shut down the difficulty adjusts and the supply remains the same - unlike any other commodity.

Are you that anxious to see me proven wrong that you pounce on a call of mine as soon as the market goes $20 against it?

Are you such a fkn bulltard that you start wetting your pants whenever Bitcoin rallies $25 on totally unremarkable volume, stopping dead right in front of a very short term and not particularly significant descending resistance trendline?

I originally stated that Bitcoin was a great short at $520. After I said that, Bitcoin went to $548. Where are we now? Was Bitcoin a great short at $520?

As it happens I never shorted at $520 and I never shorted at $430 either just as I amn't going to short now. Whether my $200 range call comes good anytime soon I don't know, but Bitcoin testing $360 is looking very very likely. Infact, I would go as far as to say that it is already written on the wall

P.S. I am not quite sure how bad a call I would have to make to match your recommendation that I hold at $1000 range back in early Dec 2013. Maxcoin to $10K by July 2014?

P.P.S. LOL. Looking at the time of your post, you really were wetting your pants at that pissy little counter trend rally weren't you? Did you think that the great reversal had come did you!? Fool!

No, I don't care for immediate price movements, but your call to short at 430 is nothing short of ridiculous. For an extremely slim chance of $100 profit, you would risk what, where are your stops? at $800?

I've been thinking this same thing look at the trends on all the charts you can see plain as day we are at/nearing the end of another correction cycle JUST LIKE THE "REAL" STOCK MARKET! But what if the price continues to go lower? Awesome I'll buy more and hold and if I end up with nothing then screw it it was a fun ride but I'll tell you what even if bitcoin hit 0 today it would not affect my livelihood at all. As for all the Alt coin doomsayers really I spent the past few months constantly balls deep in the alt coin market and guess what? Not a single one of those coins has had even the slightest hint of staying power MAYBE lite coin and doge (just through sheer inertia) all other alt coins are shit scams that last all of a week then drop to 0 volume and 1 sat before being dropped by all exchanges I won't even try to hazard a guess at how high btc will go and when but with the continued adoption (no matter how fast) there's only one direction it can go which is, eventually, up so just chill hang out relax forget you own btc and check the charts AT LEAST once a day 

It wasn't a 'call'. It was 'even a short at $430 will prove a good trade'. oh and btw, if you are trading with leverage (or indeed not), catching a $50 swing is a sweet trade. Certainly not something you would want to be on the wrong side off.

With that said, if Bitcoin gets up to $470, that would set alarm bells ringing in my head that the market wasn't going to do what I thought it would do. That doesn't mean that $470 would be a stop, but I would certainly be looking closely at the market at this point.

This spot reserved for 2016

Note you said altcoins rather than bitcoin.

I have never bought an altcoin and the only one I wouldn't think would go to zero is litecoin.

Still hodling.

Selling now will end up with you having a sob story here about how you bought high, sold low and didn't have a chance to rebuy before another bitcoin rally: https://bitcointalk.org/index.php?topic=163258.0

The problem with permabulls is that they care not for facts, charts or prices. It's all about faith and hope.
At Huobi, that is calling the shots, we have a double bottom at 2555/2558 and already an imperfect double top at 2870/2860. This top seems to be the short-term target. If this top is clearly breached, everything is possible. And I'll be ready to change my position from a bearish one to a bulish one. On the contrary, if the 2555 are breached, run for you money bulls.
Therefore, it's all about facts. I'll change my position accordingly.

Your mistake is that you are letting your emotions influence your decisions. There is nothing wrong with that when it comes to making personal choices such as choosing a career, partner, or house. 

When it comes to the impersonal world of trading, this is a terrible strategy.  Emotions are predictable is that is precisely why more experienced traders are making money off of you.

To be successful in the trading game, you need to be an ice cold bastard.  Few people have what it takes emotionally and the ones who don't should stay away from it.

I agree with this.

I find that I am ten times better at making calls when I have no skin in the game than when I do. Having anything significant at stake totally changes the outlook on the market and using leverage (i.e. possibility of being completely wiped out) opens whole different psychological can of worms altogether. But then, the OPs problem was that she was buying emotionally to begin with, and now she is selling emotionally.

I absolutely agree. I know I don't have what it takes so I just restrict myself to play only with a small portion of my total number of coins. I did more than double that small amount of BTC since the top in December (after losing 30% of the same amount trying to make trades during the big November rally), but I probably would have made more stupid emotional decisions had I used a larger portion of my BTC stack to trade with.

Bitcoin is shooting up to 4-5K USD by the end of the year. You will regret your decision, Bitcoin is such a revolution it can't fail. Save yourself from panic buys and panic/desperate sells. In my case, it took almost 2 years, it's tough yes, but you need to be aware what kind of financial revolution is this. Completely distruptive technology that can't fail.

Funny how the one most common regret in that topic is simply four words. "not holding my coins". You would think something as straightforward as holding should be easy but actually it is much harder than anything else :) Fight off greed, self-righteousness, temptation, desperation, fear, anger, advice, begging, and just hold. This is the ultimate zen, as in a way of a mind free of emotions.

I think we should coin the term 'Veronica' in a trading sense.

Veronica as a noun: someone who buys at a peak and sells the bottom
Veronica as a verb: doing a Veronica is the act of buying at a peak and selling the bottom

The irony is that it would be types like you who would be telling Veronica to buy and hold at $1000. Indeed, it was someone like you who told her to buy and hold at $1000 and she done it.

How about

Veronica as a noun: Someone who heeds financial advice from some Nutter with Kool-Aid foaming out his mouth
Veronica as a verb: The act of getting drunk on 2nd hand Kool-Aid and making investment decisions whilst under the influence.

?

I just love it when noobs lose their money!  8)

In Poker they have a say "If you are playing and can't understand who is the sucker being ripped, stop playing and go away, the sucker is you".
The ones that point fingers now might find that in the end they were the suckers at the table.
The Op lost money, but if bitcoin goes much lower and she buys again, the suckers will be the ones who will sell even lower, perhaps to her.
And even if they can endure a hard crash without selling, the problem is that, after losing so much, they won't have the guts to buy much more. The bears that are watching out will have the opportunity to buy strong on the right time or, at least, at lower prices.

+1000!!!

Veronica hope you are back on the train  ;D .

Hodl or get burned, the only rule in BTC !

Nope, she isn't:

Date Registered:   29-04-2014, 06:15:41
Last Active:   29-04-2014, 06:50:01

She onl came here to let her frustration out and will only come back again to let her frustration out when she sees on TV "Bitcoin makes a new ATH at about 5,000 USD. Sad but true...

That's just fucking mean.
I feel sorry that the OP has 'done a Veronica' - I really do.. i almost can feel her shame. Imagine people laughing at you because you actually LOST money on bitcoin?
You need patience and you'll be well rewarded.. but it takes time, balls and a true understanding of what HODL means. Veronica, sadly never came to grasp this.

Another new phrase in the bitcoin dictionary?

Credit goes to blatchcorn - first post on this page.

Oh, thanks for pointing that out. Didn't catch it myself. Hail blatchcorn!

day by day, it's looking like blatchcorn's definition is proving to be more fitting.

whodathunkit

sounds like you also did a veronica

No.

I did a Matthew.

'Doing a Matthew'.

As a Noun: Someone who buys an asset that is set to increase in value by over 10000%, only to swap it all out for drugs.
As a Verb: Someone who is in the process of swapping out vast quantities of an asset that is on the cusp of increasing by several orders of magnitude in value, for drugs.

Gloating is kind of uncool, mkay.

Seriously though. Those who feel the need to rub it in, don't  come complaining during the next flash crash (hint: they always come at some point) when the equivalent kind of ridicule is targeted at you while you stare at the screen in disbelief while watching the USD value of your account taking a big hit.

The sorts who are doing all the gloating here are exactly those who were already celebrating $1500 (at least) by Jan 2014, and have indeed watched their holdings being absolutely decimated in USD value, all the whilst pretending to themselves and/or other people that, "Hey, I love all these crashes, just gives me a chance to load up on dem cheap coins"  ::)

Considering that this is the speculation sub-section of thee Bitcoin forum on the whole internet, there really is a hell of a lot of fuck-wits around here. There are many here who have been in Bitcoin since 2011, who are still drunk on Kool-Aid and who are still calling the market totally wrong every single time a retracement hits, let alone an out and out bear market sets in. Also, the majority of the Bitcoin Nutters do seem to be American and I can't help wondering if this has something to do with it.......people with a cultural tendency to want to wear their colours on their sleeves and think with their ball-sacks, and most critically, with a strong aversion to even acknowledging failure, let alone look it in the eye (which means they just don't fkn learn).

I am probably one of the most 'ignored' posters here (to be fair I have a shed load on ignore also), but this is a good thing. Although this the speculation sub forum, the population here with the odd exceptions result in it being more like the Anti-Speculation sub forum.

So what we have is an example of a n00b, who listened to the advice of some Bitcoin Nutter and bought in near a top, and has now sold near a long term bottom, who is now being gloated at by Bitcoin Nutters, each and everyone of whom would have been screaming at Veronica to buy n hold BTC at $1000......shower of despicable cunts!

I think the moral of the story is that you shouldn't just blindly follow someone else's advice ever. Anyone who guarantees you that investing in Bitcoin will make you lots of money is a moron, but people who actually fall for that are even worse. Start thinking for yourself and make your own decisions. I do feel some sympathy for Veronica and her daughter, but a responsible mother really should have known better.

This isn't gloating. It's ridiculing someone for their extreme whining and entitlement mentality. "Bitcoin didn't make me rich in six months. So you all suck and the world is against me! /emo"

Most of us have lost money at one time or another, but we don't go rattling off like a butt-hurt twelve year old about it.

I think that every single person in the world has no option to blindly follow others advice on a daily basis because the modern world is so vast and complex, that we have no option but to. Flight passengers have to trust the pilot to fly them safely to their destination, airline pilot has to trust the mechanic that his plane is good to fly, the mechanic has to trust the computer programmers that his fault finding software works, etc etc.

That is the modern world. Veronica trusted someone on an issue in which she was clueless, and in which she thought he was expert. I bet you that person is on this forum as well......JimboToronto? billyjoeallen? Ibian? fuck...the list could go on and on.

I lol'd.

Thinking back at some of the things I spent my earlier BTC on, some of the most expensive times of my life!


C'mon guys gloating just makes you look 5 years old. The thing is most of the people who say stuff like "noobs deserve it" etc are probably sitting on .1BTC themselves...

Dont forget it could crash to $200 tommmorow and selling at $436 was a perfect move!

I rarely get to the point of cursing someone out on this forum, but I'll make an exception here: You're a grade A cunt.

Assuming 'Veronica' is real and not some troll account, it looks pretty obvious to me she's probably not in the absolutely highest education bracket (unlike a lot of other early adopters). There are two ways to react to that: 1) ha ha, those dumb people had it coming. 2) [silence].

I'm not asking for your pity if/when a not exactly genius person makes a bad decision. I ask you to refrain from gloating.

Yeah I still have some of that $10000 per ounce coffee that I orderd in 2012 :) Go beat that you fancy millionaires.

Finally my place in bitcoin history!

Maybe this will catch up and be as popular as HODLING !!!1

hehe excellent post :) you win the internets today!

Well, you're free to continue the crusade against all gloating on the internet. I think you might find it an uphill battle though :)

Valid point.


Maybe there's something more productive I can do though.

Veronica26, if you're still reading this thread, can you get in contact with me via PM?

If we can find a way to make sure your story checks out, I'd be willing to "reimburse" at least part of your loss by donating a coin or two to you.

Wow, thats extremely generous of you, unfortunately I think the offer may fall on deaf ears.

Last Active:    April 29, 2014, 04:50:01 AM

Though lets hope they are reading it to see what people say but not signing in.

Still, comendable genourosity.

Thanks.

Sent her a PM as well. If she has email notification on, maybe she'll reply. If not, was worth a try.

i wish a in forum where so much wealth has been accumulated over the years, we would see much more reactions like this one in contrast to the cold-hearted "u lost big and i lol" that has been posted here.

the community should support people that are doing the difficult move to get invested in bitcoin, and it should try especially help those who have suffered losses and not laugh at them. not that the community could not afford this. it is not lacking funds. it seems it lacks empathy.

i would also donate.

Did Feynman really say that? Let it be true

Or is Richard Feyman different from Feynman? I think we should be told   :)

You guys are aware there are hundreds of people who did what she alleged to do and would be safe to assume have lost way more than she did?? I see horror stories all the time.

Donate, ha. Learning experience is the reward. To each their own though.

Me too (though it won't be a full coin if things carry on the way they have done the last few days ...)

Just watch out not to get scammed by others. BTW, I lost 2% of my stash at Gox, could you please donate? ;)

No, serious mode switched on again: Your offer is really generous and I appreciate that. If there were more people like you, we wouldn't need bitcoin to make the world a better place. I think I'm going to donate at least 10% of bitcoin gains to some kind of charity. We all should.

I very much do not agree. I don't think investing into bitcoin should be accessible by grandmas at this point in time. Somebody who has never invested before should probably consider huge mutual funds with 3% yearly guaranteed returns, not the super risky and volatile tech investment. Encouraging somebody who obviously is not a professional or risk-tolerant trader would just lead to other Veronicas losing money, you are not helping, quite the contrary.

However, I very much do like the spirit of helping the good cause, as with supporting the wrong Satoshi; just don't encourage people to invest their money under a false premise that they will be helped if it all goes wrong - most of them won't. You are spawning actual losers and false beggars with acts like this. Sorry if that sounds harsh but that's how it is.

That's exactly my sentiment. I did well, she didn't (assuming all of this is real), why not help out a fellow human being. Really quite a simple notion.




Totally true(ish) quote. Don't you know the Feynman flowchart

https://i.imgur.com/K9bKZWL.png

Don't know how you got the "Feyman" spelling error in there. My sig says "Feynman", no?

Absolute agreement.

That's why I'm preaching over and over again we shouldn't present Bitcoin as "the investment made in heaven" to newcomers, but instead say:

Rule 1: Read the Satoshi white paper. (Answer A) Does it get you excited? Do you feel this is going to change the world? Good, consider investing (but see rule 2). (Answer B) You have no fucking clue what all the numbers and weird math symbols mean? Please abstain from investing, for your own good.

Rule 2: Never invest more than you can afford to lose. Depending on what you earn, what your family status is, that could mean $100 or $1M. But be honest with yourself in appraising how much you really can afford to lose without going nuts (or broke).

Rule 3: You're still here? Welcome on board! Be prepared for wild price swings. Historically, price has appreciated fantastically, but nobody knows how high exactly we will go in the long run, and how much time there will be between highs and lows. If the thought of sitting on a USD net loss for more than a year makes you squeamish, you probably should invest only a fraction of what you originally had planned to put in.

Brilliant  :)

It does. I need new glasses.

Thank you for your offer and generosity. And post here if you managed to find her so others can donate too.

I think this is very admirable too. It's makes a nice change from those who continually tell people they're basically stupid & often in the rudest tone.

I sent her a PM too. I remembered her that she is a noob and that she should keep investing in USD. Long live noobs! :D

Well Veronica obviously isn't that poor, considering:
If anyone's going to go around donating bitcoin, or anything for that matter, I'm sure there are a lot of other people who need it more.

How do you know that she doesn't live in a poor country and needs say $20,000 to stay at home with her daughter for a few years? She then bought a few coins with her life savings because people kept saying its going straight to $5k. Some objectivity helps.

I'm sure there are. I humbly suggest you start looking into what you can do for them.

I'm willing to bet she's more than a little ashamed, and probably upset by some of the words and ideas thrown at her.  If she were to reply, someone would probably accuse her of being a panhandler or a fraud.  The only way to verify the latter is not the case would be to ask for personal information.  Do you expect her to give that out, especially considering the treatment here?  I'd be rather paranoid myself.

Not to worry, I already am.

I thought of that, that's why I asked her to PM me, so it's at least not going to happen "on stage". But, yes, if she contacts me, I will ask for some personal information to at least make sure the story checks out by and large. I understand that's not ideal, but necessary I believe.

I want to help her out because she sounded seriously distraught, but I'm not allowing myself to be taken advantage of either. In fact, one could argue that preventing the latter is what enables the former.

She never logged back on to bitcoin talk since she first posted this.  She might or might not log back on.  All the best veronica

I wonder if everyone would make such an effort to reach out if we didn't perceive Veronica to be a female. It's very big hearted of everyone to look out for the newbie, but I see this kind of sad tale on a pretty regular basis in the world of bitcoin and the typical response is, "well, dude, you shouldn't have invested more than you were willing to lose." But in those cases, they didn't have feminine names or give a sob story about wanting to stay home with their daughter.

Just saying guys, you could be getting manipulated here by your natural sense of chivalry.

When this post first came out, everyone (including me) was thinking that she should have held (which will probably come to fruition).

Later on in the post, people just replied back and forth to each other (this post caught fire for some reason)

It wasn't until the last few pages that I noticed people start to feel bad for her (as well as I).

I do not think it has to do with her being a woman (which might not even be true = g.i.r.l - guy in real life)

This could be manipulation but I do not think it is.  She has not logged on since this post and has not solicited (which most would not give more than a small tip anyway - after asking for blockchain proof or something)

How do you know the people feeling sorry for her aren't females themselves ? ;)

Noble, but I don't know what kind of proof you could ask for that cannot be manipulated.  Even if she showed up at your front door, there's no way to prove her story.  It requires some amount of trust in her.  Alternatively, you could poll everyone here to get distributed consensus on her validity. ;)

For me at least, little to do with the fact that she's a woman, but a lot to do with the fact that she seems to take care of a child. Makes some sense, no?



You're not a 4chan (or, more benign, randomactsofpizza) regular, are you :D A picture of her and her daughter in their living room. For all I care, with her faces blurred out. For all I care, sent to the board mod, not myself. That's all. I'm not mortally afraid to be taken advantage of, I just don't want to be the easiest kind of target.

Dont listen to your friends, if I wouldnt have listened to them, I wouldve still tought that bitcoin would never go higher then 50$ back in the days.
And i would proberly bought some back then, If you believe in bitcoin you should keep it for a few more years, and then see what the price is.
Now you sold them and maybe in a few months they are back up at 1000 then you will feel stupid for sure!

the true moral of the story is: Bitcoin is not for women/girls

tell your wife to catch a falling knive in a flashcrash (really profitable trade). She will scream at you 'SELL' at those occasions. True story. Don't let women influence your trades, they generally suck at trading. Only very few women maybe can do well with btc. I know women. It's true. Too emotional, bad at math, no patience - really not good for trading volatile stuff like crypto. They are better with the shopping  ;)

I think this post made you the favorite poster of every woman on this forum.  I expect medals will be awarded.

Weak hands + investing more than he can afford to lose + noob at trading.

First i have never bought at 900 with such a bear market sentiment, many people bought at that price but to hold into them for months not to regret just because the price go ro 400.

But buy now again! If not you will feel even more stupid

Should have held on Veronica :D We are heading all the way up now

Yep looks like we are now emerging from the bottom so I guess we can say this was the bellwater of the lows
Also meaning that if she waited one more month she would have been fine
Two more and she would have made more
Three and who knows :)

That's probably true, but it swings both ways. Women typically also get a lot more flak when they mess up, especially in guy-dominated environments. Our reactions to gender (and race/age/looks/social status) are on the whole extremely irrational.

(My original rather harsh, pre-caffeinated comment OTOH was an allergic reaction to people who don't take responsibility for their own faults and instead blame others. Reading the OP again though I think I read too much into it, so if Veronica ever reads this I apologize. It's always a shame when someone gives up on bitcoin because of a short-term loss.)

True, trading is not for (most) women. It's not for most guys either. Guys on average tend to like risk and gambling a lot more, but that doesn't mean they are actually any good at it. Also, people who argue guys aren't emotional haven't seen the average sports fan.

Most people who are good at trading get so from experience, not from inborn talent.

I think someone, who makes such a thread with only one post and stays at 2 posts forever, looks like a fake... (most of the girls are fake here because they know, they get treated very different here in this male, single world)

Actually, I think Bitchick would agree with him.

This is absolutely true for me.  It's taken me 3 bubbles to get passable at it.

So where's my favorite delusional gambler"daytrader" now? Found a way to lose some more money today Mat? Getting fiat ready to buyin at 1300? :)

+3.5 billion (the approx. no. of women on earth at the moment)

and +1.75 billion (for the reasonable half of men on earth :P)

Boy I am such a dummy!

If only I had listened to Piramida and held at $1100 back in Dec 2013, then I wouldn't have to worry about a whats a good entry point and whats a good exit point right now..........(as I would be a hapless phucking bag holder sweating blood, praying for a return to my break even level and screaming angst and rage at anyone who dared come on a forum and suggest that we might be in a bear trend, and would have no capital to enter and exit the market with unless I admitted a massive loss to myself)

Edit: and do go creaming your pants just yet. This run could ultimately go up into $700's (I think there is a strong chance that it will), and then we could find ourselves at the end of a Wave B, and commencing on the final impulse leg down of the corrective Wave 4 since Dec 2013. If that is the case, Bitcoin market participants will know despair en masse  like they have never known it before. This isn't over until it is confirmed as over. Just look at the precious metals charts for guidance as to how misleading, brutal and venomous a Primary Wave 4 correction can be.

Ok now we are in agreement. Seriously though, eat your words or something, or you too cheap for that as well? I told you that you should better hold at 1100 (and you should have, you'd probably had more coin now), I told you when was a good time to buy (anything below 600), I told you that it will never go below 300, I told you that it will break out above 500 in a week (and it did 2 weeks later), and you still consider *me* delusional? :) You are funny, but learning to admit your mistakes will go a long way towards self-acceptance.

Anyone who told anyone to hold at $1100 with Bitcoin now half of that amount, really needs to just shut their phucking mouth to be quite frank.

If I took your advice and held at $1100, I would have 25 BTC (and not very much Fiat). Or would I? At what price point would I have cracked in a manic rage and cashed out? Would I have taken a 50% hit? a 60% hit? a 70% hit on my capital? And say for arguments sake that I was still holding like a good little hodler, when would I be willing to cash my BTC in? At $700, at $800, at $900? What if I resolved to cash out at $1000 but Bitcoin never gets that high by the time this rally period is through, and what happens if Bitcoin does indeed go lower than $300 before we ever see $1000 again?

Can you guarantee that this won't happen? Of course not because as you have proven in the past, you are completely ignorant to any information that tells you anything other than Bitcoin is going North. The charts that I am looking at would suggest that Bitcoin eventually getting up to Around $700 or even more, would paint a textbook Wave B, setting us up for a brutal impulse downwards Wave C. I am not saying that this will happen, I am saying that the potential is there for this to happen and nobody can say it won't until it doesn't. Of course you don't see it and despite Bitcoin's venomously volatile history, you can't see it...cos u is a damn fool!

This is not the trading forum Mat. Your posts are always so full of emotion I wonder whether you are cut out for trading over the long term.

I held at 1100 as did lots of other (bag!)holders. It turns out the only way to benefit from high bitcoin prices is actually to own them in the first place.

If bitcoin can manage another couple of years of stellar growth then I am sure you will be fine either way. But there is only so many times you can get in and out of the market without getting burned.

though it Needs a very strong personality and a very,very strong believe in bitcoin to hold  when you bought in at 1.100 $ you are right. And all your other advices have been good.
But,as I wrote before, you have to be very strong.
I bought in at about 750 $ last year and hold of course. My last buy was at about  350 $ at 10th of April 2014.
To discuss with MatTheCat is impossible since he is a troll. And SR addict.

Unlike in previous times, my rants are water off a ducks back and I don't allow my perspective to be skewed by getting involved with the hoards of imbeciles on this place. Whether that means simply reading their idiotic opinions or getting engaged in arguments with them. My ever-increasing ignore list assists greatly with maintaining a balanced mind whilst on this forum.

My TA recently has been good. True, I came out my $460 long position a little early ($520) but had I been awake, I would have come back in at $540 as per the signals on my chart. Since I was in my bed during the last China ramp I am now in a quandary whether to take a long or not. I have already gotten back in at $565, but since then a bit of a bearish descending triangle has formed and I have came back out at $572.....

......am keeping my eye on the action. Unlike the Hodlers, I would prefer to avoid negative equity if I can.

See the reason you still don't understand bitcoin is your last question here. If your only reason to be here in bitcoin trading is short-term dollar gains, then whatever suits you, I definitely have no inclination to have more dollars than I already have.

The only reason I (and anybody else who understood what bitcoin is) trades here is to have more coins, period. You don't "panic cash out" because the only time you panic is when you are in fiat. Now go ahead with your childish insults about "koolaid foaming" or whatever is it you say to rationalize you erratic trading. But maybe instead you should try and understand the other side (which has always outperformed you, so far, with much less - read zero - stress and time spent).

I heard all this kind of thing from Silver Stacker right through 2010 - 2013, and I admit I was bought and sold on it. The Fed is creating money out of thin air, this will cause hyper inflation and soon the people will demand a return to real money which means gold n silver will go through the roof as the USD hegemony collapses.

At first, the delusional paradigms that I bought into were rewarded. Then the markets topped out, but I held out as I watched over 120% gains turn eventually into 30% losses (on silver, gold not so bad). I still have all the physical metal that I bought. I could get the same amount of metal today for a good bit cheaper. On the otherhand, the penny did start to drop with the 'digital' silver that I purchased on the precious metals 'bottom' back in 2012, which I offloaded most of before I took another good beating on that.

I have seen all this before and have been victim to the exact same kind of paradigms that the majority here are victim to. If you guys turn out to be right, then believe me, it will be through pure chance. If I am right, it will be because I know I am right beforehand to the best of my abilities.

I do think Bitcoin is quite a different investment from metal though. Different properties.

I understand your frustration. I also like metal, but I know it's just a commodity so it will never change the world in any shape or form, just your personal well-being. Bitcoin *has the potential to change the world* - maybe it will not, but so far it does look to be on the right track :) When I first understood, even imagining that any government would ever discuss bitcoin was far-fetched. Three years later, there's no country left where it has not been discussed at the highest level.

So, from that point of view, the wisest thing to do is just hold and consider yourself lucky that you understood before the 99% did. Yep, prepared of course that it will all fail somehow and show us all its ugly butt, but the opportunity is too grand to miss. As for speculation, bitcoin is a mostly unregulated commodity trading - exactly like metals only even less protection against cornering - of course the price would jump all over the place, but since it's very limited in nature there's only so far that you can push the price down - even with a whole might of China behind you :) So don't try to predict small pump-and-dumps, play safe and increase your stack while it all unfolds and becomes mainstream and boring.

:o

Whilst metals prices are decided on the futures market, where metal that may or may not even exist is routinely traded as though it were real, the same thing could be going on in Bitcoin on the the exchanges were the Bitcoin price is determined. In fact, with MtGox, we now know for sure that this has been the case. And never mind 'even less protection against cornering'. Perhaps Bitcoin has been 100% fully cornered from it's very inception? Satoshi Nakamoto's 1.5 MBTC? Satoshi Nakamoto, a lone working liberal anarchist idealist? Really?

Exchanges running fake volume to ramp up price, cashing out customers 'real' Bitcoins at highs, using fake volume to crash market in order to buy 'borrowed' Bitcoin back at lows? Megawhales who may or may not be affiliated with western intelligence agencies? Bitcoin is a very risky asset in which literally anything could happen and for this reason, I prefer to trade than to hold. If it does become mainstream and boring, then I might hold.

So the best they can do is being fortuitously right while you'll always be, at worst, intelligently wrong. Bravo. Schopenhauer would be proud.

May I suggest some light reading for you, Mat?  ;)

http://i59.tinypic.com/swtz09.jpg

 :D

Why did you wait so long to get back in?  Do you place no stock in methods like Goomboo's 10/21 EMA momentum buying?  It sent clear signals to buy at ~470, granted it jumped even higher so quickly.

I am not saying one should only trade momentum and ignore TA, but why ignore momentum completely?

I got in at $460, but came out again at $520. Show me a link to this 'Goomboo's 10/21 EMA momentum buying'.

You must have seen this thread.  I have been stopping in on it literally for years: https://bitcointalk.org/index.php?topic=60501.560

Ah, yea 520 was a pretty early exit. ;(

Not trying to egg you on, just curious.  I normally consider your TA posts seriously and almost withdrew my fiat around when you were considering it.

Waiting for all the people that 'got back' and 'made a profit' to come back at 585$. Following the good old rule 'sell low, buy high'. ;)

This rule 'sell low, buy high' is how most people trade. If btc would rise to $10.000 the poster would really be scratching his head..

You should have read this back in March: http://bitcoinowl.com/hodl

What if - and I'm stretching here - the universe is not actually Mat-centric? What if he is just another tiny hole in the gravitational field? I know it sounds ridiculous, but what if somebody else is also right? :) Mat, please entertain such possibility.

This is just fucking sad in all possible ways. The OP trusted in someone who forgot to tell the whole truth, and now hordes of internet investment specialists all makes fun of her. Makes me sick to be honest.

are you sure this will be a light reading for Mat ?

are you sure this will be a light reading for Mat ?
[/quote]

This will be a breeze for Mat. Whatever you may think of him he clearly does make an effort to learn some of the technical analysis stuff so a bit of philosophy will be a walk in the park. And in my view he does have a nihilistic streak!  :D

give me a break. she trusted another person blindly about a "guaranteed investment" and sold at the bottom when it didn't immediately pan out. if you look back, many of these so called "specialists" had warned her that we would likely go back up again, and they were right. but she's apparently gone now and didn't heed any of the advice.

anyone who has been an active part of the bitcoin world for more than a few weeks recognizes these patterns of bull trends and bear trends, and hence hold through the dark times. if a person isn't willing to do any research into an investment before they drop significant money in, and isn't patient enough to wait out a bear trend for a few months, then I honestly don't feel very sorry for him/her. this isn't supposed to be a cake walk.

It is worse than that.

It is the very same types of people who would have extolled her to buy and hold Bitcoin at $1000, who are now poking fun at her.

I am waiting for Veronica to buy back in as an indicator to sell.

Let's not rip on fellow BTCtalkers please!

Does anything else actually happen here other than that?

It's just a shame she gave up at the wrong moment, if she wouldve waited just a little longer  :-\
But it's just hard to know if it goes down any more, what if she wouldve sold at the right time and the graph went down more?
Now she sold at the wrong time because it went up, but bitcoin is so volotile that it's really hard to know unless you have some knowledge about graph's

but you know,to get an expert on TA you Need experience,experience and again experience.
It takes IMHO about 3 years to get this experience, no crash course is possible.
I see a lot of TA posts here done by noobs.
I personally do not make any TA but I can read TA and evaluate the noobs here

I've only had a few people rip on me... *shrugs*

This is a billion times kinder than LoL or Wow forums.

I do think Mat can be too bearish and cynical - if Bitcoin does continue to evolve healthily then I would certainly say that this cynicism got in the way of his understanding and trusting the long-term fundamentals - but I recognise that he has put more effort into learning TA while on these forums and while thinking about Bitcoin than me and quite a few others.

Its not as sad as u think ...i.e when PURE RETAIL wants to get into a market you know you are entering a heavily overbought market

The Veronica TM $199.95 for TradeStation & MT 4 :D

I think we have to conclude that Veronica has an excellent sense for highs and lows. Wish I had that skill.

I sincerely believe we can learn a lot from the Veronica's!

Yup  :)
I am waiting for her to buy back in as a sell indicator

This was a good sentiment indicator of the bottom in price for this cycle.

Veronica I'm sorry babe but you missed out lol this is why we ALWAYS HODL

Veronica please let me know when you buy back in so I will know when to sell.

if you posted this in reddit's dogecoin section I would have tipped you, that was hilarious

Why don't you leave her alone? What's the fun of taking high point over some newbie that lost money on her first time investment in Bitcoin?

I made hundreds of BTC in last 14 months and yet I had some shorts at that level too at about same time.

I can understand sticking it into some big mouth cunt (like me for ex.) but she did nothing for anyone to be happy and high because she lost the money.

Coddling people who fuck up this bad does nothing for them. You only learn from the mistakes you pay for. While I'm not enjoying her failure, mocking her is far more healthy than telling her how sad it is for her.

Of course she will learn but mocking her is no class for me.

Agreed. Just saying, if one has to comment on it, it's the better alternative.

Guys are you new to the internet or something? When someone makes mistakes and publicly announce it like this, they put their own head on the chopping block. Especially on this forum if you make a bearish decision and blame it on bitcoin that you lost money, which is just silly. As I've said earlier, it's more the TONE of the message that gets people to react than anything else.

We made fun of the HODL guy too and he took it with good humor.

this thread overflows with tact and sensibility.

also i guess most of us are new to the internet and just happened to be on bitcoin forum by clicking "i feel lucky" on google

"she's" probably been lurking here the whole time. it's probably a guy playing on sympathy to get suckers to donate to him. if you guys give money, then you've likely been had. don't be dumb.

You made a good decision, imagine if you were still hodling, not only you'd lose even more in bitcoin, you'd also suffer opportunity cost from missing out on interests, dividends and returns from other investments.

Your friends were right, they cared about you and must have been concerned about your mental health. I'm glad you woke up and got out of the cult.

veronica26 missed the rise to 680$, but still she sold at 436$. She was laughed at by the permabulls.
How many reading this now wish they (recently) sold at 436$? :D

;D ;D ;D ;D

If you are buying bitcoin you should be ready to watch it fall to zero.  There is big money manipulating the price hard.. it could be insanely suppressed until 2020(the next next halving).

Arghhh's bitcoin chart on the first page was way off. According to that the low point should have been above $400 somewhere around the yellow line.

http://s7.postimg.org/8birtzbdn/bitcoinchart7.png

Well done Veronica, you made a mistake but you cut your loss and accepted it.
At least you learned.


$430 right now seems like moon over here for some gentlemen.


Some people here will never learn. :)



PS: bump :)

This will be a funny thread to bump a couple years from now.

https://bitcointalk.org/index.php?topic=52077.0

 :)

https://bitcointalk.org/index.php?topic=920101.0



 :)

Moot at this point--he's simply right, you're wrong.  Your BTC has also lost more than half of its worth since you made that remark :)  

http://s21.postimg.org/qpq9mj7fb/Niet_Bit.jpg

Veronica was right. Incredible.

By giving up, your bitcoin moved from your weak hands to stronger hands. Essentially stimulating the market even more. Thanks for that.

Pictorial representation:

http://s13.postimg.org/w8zagke3r/durr.jpg

A winner is you!

That guy will be swimming in model pussy by 2025 if keeps holding these.

You mean like this?

http://cdn.themetapicture.com/media/funny-drummer-lifevest-helmet-drowning.jpg

$430 seems like a dream that could never happen again. Jesus, what happened? 14 months ago, things were sooooo different.

So was falling.  :P

If she starts posting here again she can have a laugh at us for holding.  :-\

It's nice what you can dig up with old threads.

If you have to cashout, keep a portion in Bitcoin, it will have a chance for some years stil... even a small amount could be a fortune some day, remember this and cashout everything you need while this market is bearish.

hmm i think he stressing out now see at 200 usd hoh

lesson learned

She most probably hates everything bitcoin related, including this forum.

everyone hates everything bitcoin related. People who hold a lot bitcoin need to be looked at as mentally instable individuals.

i dont care. i buy moar. postponed getting utterly freakin rich to 2016.

big deal. i rather have you haters being right 2014/2015 and me being right in 2016 than other way around.  ;)

what i still do not get: if you doom trolls think we are stupid, wtf are you doing here? if i would have identified a group of retards, why would i persistently post in their forums ? hate and stupidity and greed alone cannot explain this.

Yup, I will wait till the next halving of the block reward in 2016.
Let us see where the price goes from there.

it's not coming back, man (or at least not in a meanigful way)
I for one am here to speculate on the replacement and coming altboom. Bitcoin is done. It's going to sleep with the fishes.

I'm sorry to tell you: you have been brainwashed

Why only dig up the negative threads?

Why not dig up the threads of goat buying a Lamborghini
Or that guy who bought the first tesla electric car for btc?

Some people made a killing over the last few years on btc and don't even need to work anymore but only the Few gets a mention thesedays......

past performance doesn't need to be an indicator of future performance especially after all supportlines were broken.

Unchartered territory, nobody knows how big btc is going too get.... It could be epic beyond all our wildest dreams in a couple of years

fixed it for you

This is wrong. You are paid to either produce a stupid pro bitcoin post, or an intelligent anti bitcoin post. I will have to talk to your supervisor and recommend you being sacked.

it didnt need fixing ......btc is the king of this castle
 fuck the 600+ shitcoins

until it's not

Bumping this thread as a cautionary tale for anyone buying for the first time right now.

In short, yes Bitcoin is a "sure thing" but only if you are prepared to HODL and I mean HODL hard.