Bitcoin Forum

Hello Everyone here

That's a question I always ask myself, weather its in the morning when I wake up, during the day as I read all those negative BTC reviews or even at night as I stay up contemplating weather or not my BTC will be worth less by the time I wake.

I came to a simple 3 point solution.

- Stay informed (News is key to staying ahead of any future price dips)

- Prepare for future scenarios (Hedge the risk of any possible adverse market conditions by having exit/re-entry strategies)

- Take immediate action (When the market falls get out before the panic erupts. Do not be a Bitcoin romantic. Emotional attachment will cost you.)

I'm not fear mongering here, Im simply being realistic. We all know the concept of Bitcoin is still pretty new and as we have seen with other bubbles, some burst and some float to great heights.

Thanks

It's not the value which is most important.

Thats true , but I am sure, not everyone here would like to lose money just holding on to the technology.

 
Maybe, you could convert the bitcoin to something else  , like Webmoney or Neteller for the time being.

If you're concerned about the fiat price of Bitcoin, there are ways to lock in the price.

As always look in this forum and research first before committing:

https://coinapult.com/locks/info

http://www.hedgy.co/

https://bitreserve.org/

Coinapult Locks looks to have the least hurdles and fees, if you're looking into that.

those worrying about FIAT price drops shouldnt.

firstly if your end goal is to go back to fiat, then your not really understanding bitcoin or thinking about the opportunities to expand bitcoin to never need fiat again..

secondly you should be thinking of the fact that if its a bad time to sell, then obviously its a good time to buy..

seriously, i guess you should sell your BTC and move to something stable. maybe you wake up and the price is at 20 USD. then what? you cant watch the price 24/7.

believe me., BTC is a rollercoaster.


note: you can lock your BTC value with "locks" from coinapult.

Here we go again with this lame thoughts from a hero member

If BTC is worth a penny today, please say again its not the price that is important.
I will have to pay 100,000 BTC for a flight ticket  which is 30 mill $ and have to go to expedia because thats the only travel retail that accept btc here in USA
yeah its not important.

what can you do with BTC alone if you cant convert it to fiat?
do you really think that all the merchants accepting BTC would NOT care about the price?
please tell me someone.

I believe I said: most important . Oh, even if it does go down to a penny, it doesn't mean Bitcoin has failed. Anyone who is not in it for the money are intrigued by the concept of Bitcoin & the concept of the Blockchain.

Of course, we all love to make money. But, I see increasing numbers of users joining looking to make a quick buck and not taking any interest in the concept.

Anyway, I'm not going to into depth as I have work to do. However, I will say that some users here don't even look at the fiat price tied with Bitcoin, but Bitcoin as Bitcoin.


Well, I don't know? Use Bitcoin.

To learn about Bitcoin a good place to start is reading the whitepaper: https://bitcoin.org/bitcoin.pdf

I think the most important thing you can do is spread your risk. Bitcoin is very volatile but seems to be holding a reasonable value.

You can't protect yourself from this sort of stuff. What do you plan to stay informed on exactly? It seems if you read something good or bad this will effect your decisions and could cause you to do something unnecessary because you feel it is going to effect the price (positively or negatively) when it reality it may not do anything.


Exactly, though to the get rich quicksters it seems to be.

If the price is dropping just buy....it will go up if everyone has that attitude. When we reach $2000 it will be legen...wait for it....DARY!  :D sorry!

If exchange rate fluctuations scare you then you should stop using Bitcoin. Move your money into a currency that retains its buying power year after year like the dollar. ROFL

 ;D

https://www.youtube.com/watch?v=4nOfHpOFhN8

I think investing in casino can be a good way to keep your investment value - as you know, casino always win so unless they scam you you should be up.
Sadly I didn't think about this and keep my money in altcoins and lost pretty much all of it :/

The best thing to do is to do nothing. Do not even think about it. Don't check BTC's market price. This isn't day-to-day trading. You're in for the long run. Leave this forum if you're concerned, and don't check what's BTC's worth before next quarter.

http://c86cb244b7aa82d722df-bc886d861d799bf6b58e79429d5ca9ac.r8.cf2.rackcdn.com/wp-content/uploads/2014/09/See-Saw_levers_pic_laurelm892.png

The reason the price is going down is simple. The Bitcoin community needs to understand that each time a giant merchant integrates bitcoin on the POS side, without also offering a bitcoin payroll option to employees, it's like putting another brick on the "sell side" of a see saw.

What we have now is a giant network of Bitpay auto-sellers dumping coins on the market. These merchants are relentlessly auto selling regardless of BTC price, and there's simply not a big enough pool of market buyers to offset this unstoppable selling machine. The only solution is to pay more people in bitcoin.

The only way that Bitcoin's fiat value won't matter is if you can pay your electrical bills with Bitcoins, as well as buying food and ordinary household items with Bitcoins.  Other than that, fiat value is always going to matter.
If 1 BTC is valued at 1 USD, how many people would still be mining? How many manufacturers would continue to produce mining hardware? Yes, you can hold on to technology like you can hold on to an Atari 2600. But when there's no value, there's no point in holding on to it except for sentiments. And one day you can say to your grandchildren, "When I was a boy, we had these things called Bitcoins and I mined it with this Antminer..."

I feel that bitcoin is just leveling out to a more standard and consistant price, like anythinjg else it will remain stable and the large influx within the past few years was because of the craze and also all the black m arket websites. the best advice is to just pay attention to the market and be ahead of the game.

In your opinion, are the Bitcoins used at these merchants mainly from miners? The auto sellers have to be getting the coin from somewhere.

Dude, if you invested in Bitcoin is because you invested for the LONG TERM. Additionally, do you even know all the benefits that Bitcoin brings to the table? If you understand these benefits, then you will truly feel more comfortable with your investment.

Regards,

Pabs

I'm buying any underpriced asset btw.

Price dropping gives you chance to buy cheap coins

What if the prices keep dropping? It's now seem that the prices trend to dropping.

Well thats never true. Just like it is hard to predict whats the highest it can go, there is also the same for what is the lowest it can go.

Some people just don't get it. It's like learning a language. You don't really know the language until you think and dream in the language.

You don't really Bitcoin until you don't think fiat anymore.

If I buy 1BTC for $1000 and invest that Bitcoin in something that gives me 50% return, which means I have now 1.5BTC.

When Bitcoin price falls down to $200 does that mean I lost a lot money? No.

1 Bitcoin is, and will always be 1 Bitcoin.

Dude. Exactly.

I guess I don't frequent gold forums. But I never hear someone who has purchased 10 ounces of gold freak out that their 10 ounces is no longer worth anything. It's still 10 ounces.

I can't understand your example.

you invested $1000 & earned $500, total is $1500 (1.5 BTC)

if price falls down to $200, your fiat currency value is decreased, you can buy 5 BTC at this price without any investment. you can't sell your 1.5 BTC to $1500 worth of any fiat currency.

Everyone is purchase using Fiat currency,so it should be worth atleast the buying fiat currency value while BTC used. it doesn't matter about shot / long run. (IMO)

still i believe in Bitcoin and it will be stable soon.

Yes, you would have lost a money . If it was say 1000$(not btc) and an investment got it up to 1500$, then I would have 1500$.
In your example, you would now only have 300$. Not saying anything against bitcoin, but your example is wrong.

IMO the correct response is "Do nothing" if you don't sell, you haven't lost anything.

It's not emotional attachment, it's recognition that the market is pathological and will careen up and down senselessly many times in the span of a few years.

Imagine you bought a house for 50,000 in the 90s, all the neighbourhood was selling for a half mill in the mid 00s, then 08 crash, and nowadays it's valued about 150k... you read a headline in finance section "House prices expected to decline 10% in 2015" ... so you panic sell to one of those "we buy houses for cash" flippers for 130k  and put your family out on the street... yay, you've preserved your "wealth"... meanwhile spring sees buyers come out in droves, you find yourself outbid on a dozen homes, and eventually you get a 4 room hovel, one block from teh trailer park... but hey, at least you made the "financially sound" decision and didn't let emotional attachment cloud your judgement...

So, IMO correct response to "House prices expected to decline 10% in 2015" headline, is "Meh, still have a house".... same thing for BTC.

Well, if you want to protect what you've got at the moment, you can only do one thing: Sell all of your Bitcoins! This is the only way to prevent further fluctuations caused by the BTC price! Of course this also exempts you from re-gaining your losses. Only invest what you can afford to lose. Make up your mind before you do a trade. Always!

Why you not lost your money if bitcoin price down to $200 while you buy btc at $1000?


That's right.

But i disagree with sell all of your bitcoin. How about HOLD?

I was merely tackling the issue of "how to protect your current value hold". If you measure that in USD, you can only go so far and sell all of it for USD. If you believe it may appreciate in value again at some point - which I and a lot of people here do - you probably are best off with holding to your stash and wait for better times, yes!

That's, wait for better times ;)

if you sell all of your btc is the same as you can't protect the value of btc right.

My point of view on this topic is if you are a miner and you pay for electricity in fiat, then the fiat value of Bitcoin matters a lot. If you pay for your hardware, electricity, and whatever else with Bitcoins, then the fiat value doesn't matter much.  Because whatever Bitcoins you mine, you decide whether it is worth it using the Bitcoins that you mined to pay for the mining expenses.

Example 1: Your mining rig costs 1 BTC.  Monthly electricity for that rig costs 0.5 BTC.  You average 2 BTC each month. The fiat value does not matter because you still gain 0.5 BTC each month.

Example 2: Your mining rig costs $500 USD. Monthly electricity costs $250. You average 2 BTC each month. The fiat value of BTC is $300 USD. It matters A LOT what the fiat value is. If 1 BTC is valued at $1000 USD, the entire strategy changes. You might even overclock and use twice the amount of electricity for only a 20% gain in GHs.

Very cool to read this old topics...
I just like to know if any of you really sold your Bitcoin.

well actually its really hard to predict the BTC price .But i personally dont think that BTC won't claim up in that much hight in the short preiod of time  🙂 But you never know what will happen next in the world of crypto  😉

Dont worry BTC will rise upto moon

Define “dropping”. Do you mean like $3,000 in one day?

Trading would be a risk also. Every choices we made has its risk so all we can do is try to minimize the risk we do with our bitcoin. So in order t protect the value of bitcoin don't do something reckless that you would be regretting.

You are not worried. It is just a correction. Bitcoin price will increase in the future. You should not be doubt about that. So, let hold and wait.