Bitcoin Forum

I bought in before the November '13 bubble, so I've seen lower prices.
I am not selling because I believe bitcoin should be and probably is the future.
I'm not trading because I lack the experience, and don't feel this market is the best to start with.

But still, it feels hard to hold!
For those around for a longer time, was the sentiment ever like this?

I have no problem buying and holding when prices go down

I'm just worried that I may be wrong and bitcoin is eventually headed for $0

I had hardly any BTC when I joined the forum and bought before the first bubble. I did not frequent the speculation forum, so didn't pay much attention to sentiment (stupid I know).

If you haven't cut some of your loose by now, then I'm not sure it is a good time to sell. I think a bottom is near though.

You always need to have a price in mind when to buy both the high to sell at and the maximum loss you're willing to take.

I'll let some old timers tell you about sentiment, I'm guessing when BTC went from 30-3? That's a bigger haircut than now for sure.

If it's money you can afford to lose then you just hold long term, if you believe in the asset and you think price is low, keep buying a bit each month and stack some more. You may lose at the end or win at the end, we never know what is next after a mega storm like the one we are at. Big riskers can lose big but win big time.

It was 5 months

But yes, the market is much like it was in 2011. Despair, panic, fear... These are normal feelings when nearing the end of a bear market.

Agreed with all and same for me really, though I don't think it's hard for me to hold but it is frustrating, but I think bitcoin will do much better over time so we just need patience.


There's always a risk of that, but it's very unlikely it will ever go to zero anytime soon. It's too big to fall to that point it'll always rebound at some point.

Bitcoin has seen bigger drops before and the market is very volatile and fragile right now but could recover very fast.

Don't you mean too big to fail^TM?

If it's worth doing, it's worth the effort.

Otherwise you may as well just cop out and try to get rich quick by trading.

Bitcoin? Drops? What are you talking about? :) Price that some people sell their bitcoins for is dropping - maybe, but not anything else. Bitcoin the network is growing stronger every day: https://blockchain.info/charts/hash-rate?showDataPoints=false&timespan=2year&show_header=true&daysAverageString=7&scale=0&address=

If bills could be paid with hashrate instead of money, you'd have a point.

Agreed. How many coins are you up to now?

technology is not dying just price is. and most peopel joined on the buble so they are now scared

That chart is stunning, and it makes late 2013 look near zero, but I remember then the hashrate seemed very high.

Why the hell someone would be investing in risky long-term assets if they have problem paying the bills, I wonder?

Hashrate *is* value. Either it has to start going down significantly, and soon (we are in one year of bear, afterall), or the price has to catch up, discrepancy that big can't exist.

Date Registered:   November 25, 2013.  Yep, you must be getting pretty fidgety just about now.

Why would someone invest in risky long-term assets just to watch teh hashrate grow?  Please understand that, unlike yourself, most people tend to invest in hopes of making money, not losing it.

Waking up and finding out your life savings just dropped in value by 6% will do that but still holding because i believe in it.
This is the time when you see most of the people trying to get rid of it, atlest the unbelievers.  :-\

If you invest in a growing company you really don't worry what the share price is doing at the moment, all that you are worried about is that the company is healthy. If by "making money" you understand speculation on a monthly or daily scale, then think again, it's not making money, it's gambling. Yeah, people can gamble on bitcoin price, also satoshi dice or casino, but expecting to always win is unwise.

when everyone is selling, you should buy, that is , if ure looking for profits.
just coz the price is declining right now, doesnt mean it wont gu up and away at some point.

I agree, it's worth the effort! At least long term for sure.
I don't dare trading, like I wouldn't dare climbing a mountain: without experience it feels just too risky.

Exactly, you want to buy when people are overselling, it looks like the market could be a bit oversold at 260$.

BTC sometimes makes fast turns and by the time you are sure the trend is up, you already missed a chance to buy near the bottom.
^^^
The above is what happened last spring when Bitcoin "crashed" below $400 and bottomed at ~$340. When the rebound hit, it was at ~$540, 560, $580 before many "trend-followers" had a clear signal to buy.

This ain't nothing, kids. :) Tell us about your greatest fears in life. At the end of the day it is just cash cash dollar dollar. Yet the coin remains strong. Play on.

I keep holding but I am losing a lot :(

BTC was more fun last year when i could make money just by sitting on the beach and bragging to my friends

I sympathize with OP.
Seems longterm trendlines have been broken, so 240s or maybe 220s could be on the horizon. There aint no rebound, no volume, no Shock and Awe sentiment yet, trend reversal remains a mirage.
p.s. Ive been hodling and acumulating (selling a bit here and there) for 2yrs and as someone here said - hodl me I'm scared!  ???

Some of the bulltards just don't get it and are bound to ride it out all the way to the bottom.

Bitcoin fundamentals still work, but that doesn't mean that regular people want it! The Nintendo Virtual Boy worked just fine too, but nobody wanted them. That's our situation now with bitcoins, and we're printing 3,500 new Virtual Boys every.single.day.

What do you think that does to the price? Just look at 2014 and 2015.

Yes it's difficult for me to hold as well. I've bled out half my BTC in the second half of 2014 but it looks like it was the right move. Dropped another 10 yesterday at $290. Even if we're only down here for a short period of time, cost average selling guarantees I only sell a small amount for too cheap and but guarantees that if the worst case scenario plays out, I don't walk away a loser. Panic do nothing is about the worst strategy one could take because then you're truly at the mercy of forces you have no control over.

I've also learned to just be happy with profit. Only a very few lucky ones can buy right before a rise, and then sell at the peak perfectly. A little over a year ago I was super bummed I sold my mined stash of LTC for an average price of $12 when it hit $45. But today it's less than $2 and I know someone who just never sold period, convinced it was going to go beyond $100. :-\

Bitcoin is not a VirtualBoy nor a candy.
Seems to me most of BTC not participating in the trading. So its the trading part that we need to focus on perhaps?

If you bought in during the first week of June 2011, you wouldn't have been back in the black until the end of February 2013.

Well unless you bought anything before 2014, you are sitting at a large loss but you are not alone.

Who knows what will happen

This isn't an issue if you're only buying what you're willing to lose.

You may roll your eyes at that phrase, but its true.

You should only be buying with what qualifies as "chump change" for you.

Any other method and you're a degenerate gambler :)

-B-

Just as digital, unregulated currency is a great idea in theory, a portable 3D game system also sounded great and the Virtual Boy created a lot of buzz at the time. We all knew some idiot who sunk $300 of their allowance money into one, and even though they soon realized it sucked, they felt the need to defend it to their friends. "Nah, it's pretty cool, just don't listen to the haters," they'd say, before complaining about the headaches and stiff necks suffered from using it.

These are the same people who are now saying, "I'm holding bitcoin because I believe in it." Well, I still think a pair of portable, 3D peripheral goggles are a really cool idea, but that doesn't mean I'm heading over to ebay to buy a Virtual Boy. I also think a global, trustless, digital currency that can't be manipulated by any government is a good idea, but there's got to be some kind of incentive to make the switch, and 2014's performance is a giant red flag to anyone who values their hard earned money. Bitcoin also has many security issues to overcome before it can be taken seriously. I've seen little progress on this front in the two years I've been involved in this.

So why get involved and suffer all the headaches? Basically, everyone outside of the bulltards on these forums understand this.

Right now merchants dip their toes in bitcoin because 1) it's easy to setup 2) they get their USD faster and 3) they save on credit card fees. Once they have used it a while and gotten at least a little bit comfortable with it (assuming that does in fact happen), they will start to pass the incentives onto consumers. Some merchants will do that quickly, others will take years.

Yep, if they want more of this sort of business then offering these incentives is a great way to urge that sector of their model to grow. That's when the super savers shopping effect will take hold in newer users and potential users' minds.