Bitcoin Forum

Like everyone else in this forum. It's denial in its clearest form, if anyone argues the converse.

I think this forum doesn't represent honest feelings and therefore sentiment can only be answered from one's own perspective. Nevertheless I'd like to ask you to share your current feelings with us.

For me - bitcoin is like a ticket for the best rollercoaster of our times. It's fun and stress at the same time. Can not say for sure, if I am at stage 5, 11 or 13. My feelings are (damn) to volatile to work as a 'real' store of value :).

Recently, I even thought about shorting it (for the first time) to $120 (as I still see more downwards pressure rolling in). But: Somehow, I am to frightened, we might have seen the end of the downtrend and I might fuck up big time.

Maybe someone feels familiar with this state of mind and is comfortable with sharing some insights, too. I might also wait for $120 to come and then buy some more coins.


FYI, my  break-even point is around $80. I increased it though from $5 in 2012, when I got involved for the first time. More or less my whole trading history: Bought @5 Sold @45 Bought @70 Sold @260 Bought@130 Sold@1200 (lost approx. 50% in Mt. Gox) Bought @610, @$450, @$340, $160 and soon to come $120 (?)

Most important:

• I am comfortable loosing it all.
• Bitcoin enables societal change, even if it is not successful as a coin!!! (ask yourself what was your motivation to get into Bitcoin and what a societal change seems worth to you).
• More so, I believe it's all about a binary outcome (might turn out this is not true), even if in the end it will be totally different from what we expacted it to be in the first place.
  

What I quite firmly can state now: bitcoin certainly is not meant to be for a quick buck. IMO, Satoshi new well about the hypecycles 'he' will produce. All the people complaining about the volatility and buil-in (high) inflation don't seem to get, that it is the downs, that make bitcoin the 'fairest' coin in the long run (hence acceptance from the wider public) despite many people will miss the chance to get-in and complain afterwards (but they know, they could have --> and this gives it legitimacey!) I want to believe: Some of them might be even long-time lurkers in this forum. But maybe they are simply "agenda-bulls". (See first line of the post).

Thanks to sgbett for posting his current state of mind here https://bitcointalk.org/index.php?topic=941152.0

My state of mind: TO THE MOON!

http://37.media.tumblr.com/286cb7c1dd04008a5105ab126df9fe58/tumblr_my65rcZjtu1sevzi0o1_500.jpg

while i am trading sometimes - and yes, even shorting sometimes - i still follow the plan that i made around the last ath: buy as long as btc is below 1000$, then wait and see.

i am in with a moderate amount of money and wrote it off as "spent", so nothing in the world would make me sell the stuff. edit: yes, exactly, i would ride it down to next to nothing.

my current mindset is ... well... i shorted recently, but just to increase my stack of btc. right now i think that the risk of having to rebuy at higher prices, thus resulting in a btc-loss, is higher than the possible reward of another downswing. sure, there are some indicators pointing towards a retest of the recent low, offering a chance for 10%ish gains. on the other side we heard a lot of very interesting stuff this year that - in my opinion - has been neglected in price formation to some extent because of the downward momentum. the rule of buy the rumor, sell the news has been overridden and might lead to a reversal if people are confrontated with the results. that happened - in my opinion - because the current players involved in btc are not able to understand the mechanics that are currently working behind the scenes (outside the exchanges). honestly, most of the so called "investors" right now are more or less grown up kids with no to abysmal small knowledge about money, investments and economics.

since i am risk averse and in overall bullish, i stopped shorting recently and will compensate further price drops with additional buying. on the other hand i still see a possibility that btc might fail within the next 1-2 years, resulting in prices around 1$. but right now the btc-investment has moved from "pure lunatic stuff" to "highly speculative asset", and thats something.

You're bullish but still think that the price can reach $1 in 1-2 years? How does that make sense?

i see the chances for failure way lower than the chances for success, simple as that.

but i am not blinded by moons and rockets to be absolutely sure that the chance of failure and thus loosing all invested money is by far higher than eg investing into the stock market right now.

i more or less compare it with buying stocks of a small, tiny company with a great idea. future will tell if i invested in microsoft or <insert one of the many other tiny companies with similar ideas in 1985>

I don't give shat about bitchcoin aka Gavinshitcoin anymore! Not a single fuck! And Litecoin has me betrayed today also! But you know what? Quark is holding strong! Ixc did a jump 100% yesterday with a large buy-in and UNO is rising since 6  months took another jump yesterday - it is actually even rising against the USD.
And you know what these coins have in commen? Low inflation, motherfucker! Screw these inflation shitcoins! They use a lot electricity and there is no profit in them!

Fuck these coins that can go down for years due to heavy oversupply! All they have is high hashrate - AND THAT'S IT. I'm done with shitcoins like Gavincoins and Litecoins! DONE!

I do hold Bitcoin only to buy up the dips on the low inflation ones. I'm so over it, believe me.

Do you know Iocoin (the old one)? Nobody is interested in it normally. There is no community to support it really but guess what!? IT'S RISING MOTHERFUCKER! And it's a low inflation coin!
The days of inflationary crypto are numbered! DONE! FINITO! OVER! Get out while you can.

The low inflation ones are more stable too - merchants will adopt these coins in the future. #justsayin'
First mover does mean jack shit! Low volatility, sustained marketcap, and no miner dumps - that's where the ball is at now!
Don't put too much hopes in bitcoin. Better diversify in fiat and low supply coins.

Demand in low supply coins is going to spark and then it's full moon baby ... Bitcoin will be left in the dust.
Bitcoin is high supply, low demand and the game now shifts to low supply and when these have high demand you will kick yourself for not getting in when they were underrated.

To summarize:
I am frustrated with the market for bitcoin and frustrated with how people seem not to be ablle to count 1 and 1 together.
But i know i don't suffer as much as others probably do because i learned to be a bear on inflation and a bull on low supply. So i managed to to stay in the black. I can just imagine what kind of losses some people must have.
I would welcome some profit. The sooner people understand bitcoin is a hopeless case the better. Buy into low inflation coins and don't wait for jesus christ or wallstreet to save you!

Exactly. People aren't seeing the bigger picture and potential of bitcoin. Millions upon millions is getting invested in bitcoin infrastructure and it's only a matter of time before certain people or industries realize how much they can save and benefit from using bitcoin.

My feeling? Tired of this shit, I don't want to become rich, people who are buying 1 BTC just waiting to reach 1000.000$... well, let's say that they're naive to say the least.

Anyway, I want the price to stabilize, preferably around 500$, this constant drop drives me crazy, one fucking year with the price going down, down and down. And people are like "don't worry, everything will be fine"... alright... I guess...

I want bitcoin at a stable price (500$ or 1000$ for round figures) and I'm feeling TIRED and ANNOYED.

Hope this helps xDDD

The moon hangs disturbingly low in this one ;)

I think that BTC and LTC will be priceless in the future and people doasn`t awere of that yet

Seriously take a moment to think at the events that would have to happen for this to occur... Not saying it won't happen, but it seems unlikely esp Litecoin.

I'm feeling bearish overall. I've got enough BTC so that I will regret pouring money into it if it fails, but not enough invested that would cause me to be broke if that happens.

I can't help but feel that, as we approach what seems to be legalisation or legitimacy of Bitcoin, the global movers and shakers (the top two or three financial powerhouses) are shaking Bitcoin to death with controlled bursts of pump and dump. I feel that they either want it dead or are shaking people out in order for them to buy up large quantities before the mass public get involved. They could be using the trends of regular traders and bots to their advantage.

I've no proof of this, just a hunch that the powers that be would never allow crypto to take over without them having a controlling stake and it makes me feel like they're ruining it.

Someone tell me I'm just being paranoid, or is there any good reason to feel this way?

Well the thing is that even exceptional technologies fail at times. And just because one believes in them to success, might not just get it to succeed .

Feeling bullish, 2015 is gonna be awesome, I'm in the red since I started buying BTC but I don't care because I know the future will be bright  8)

I see it as a great chance to increase my BTCs. I do not expect it to go up significantly soon, but I think the floor has been reached.