Bitcoin Forum

When Bill Gates Windows 95 he made a OS for the 'masses' simple people with no intellect. It was meant for using a pc, no need for understanding it.
Then Satoshi created the Bitcoin protocol and people could mine/speculate on bitcoin

The problem is, bitcoin is not meant for weak hands to sell. It's meant for people to use or not to use.
Not to speculate on. Because.... people whom don't understand it, and try to speculate on it lose loads of money and we.. the community have to deal with it..

We don't have to deal with it if we're strategically buying and selling at the right time.

Bitcoin is whatever people make it into. Right now the collective consciousness has made it into a vehicle for speculation. It is what it is and nothing'll change for a good while. It's up those beavering away in the background to come up with some more utility.

Agreed, because we won't be affected that much by these price movements if we move together with it. Those who are much affected by it are the businesses which needs to constantly exchange btc to fiat and vice versa. If you aren't that worried about the price drops and you are a long term holder, you won't even bother even a sharp price decrease happens.

as long as you know what levels you are ok with owning the underlying
security (this being bitcoin) but with any investment, Just be confident in
what levels you are comfortable with owning it at. So whether it goes
down or up you are fine with owning it at that price. Then just buy on
them panic dips :)

Bitcoin is designed to be a currency. And a currency can be speculated on. ::)

at this point i believe that there are still fish on the market, because it is to easy to start a panic selling, or maybe the bot that they programmed ar enot so good, and they shift the range of trading from bullish to bearish each time...

But speculation caused the bitcoin to be very volatile. The volatility makes bitcoin less currency.

The Chinese renminbi yuan would be as volatile as BTC if the USD exchange rate were not controlled/managed by the PBOC.

Some people using bitcoin must literally be panic selling all the time, In the whole time ive had bitcoin ive yet to sell any. When it goes high i think nice, then when it drops its annoying but t no point have i though i better get out.

panic sell removes the good rise price of btc but its small amounts i guess the big whales are good to keep the major gross of btc and the rare mining makes it valuable into the halving soo expect btc to rise after 6 jan

People will think and speculate as much as they want. Some people tend to panic as soon as something changes within the market.
Speculating and panics is something that makes the market moves as well. So I wouldn't see it as an entirely negative thing.

Well Bitcoin can be so many different things for each individual.
Some use it as currency.Others, and this is biggest part of the participants right now, use it as a speculation and investment vehicle.
Again other groups see Bitcoin as a protocol which can be used to build a new network and ecosystem of crypto related companies.
So what "to use" means can vary in many ways.

People all have different views about bitcoin, it's bound to happen that people are panic selling.
I'd say let them sell and they will regret it when bitcoin is getting too expensive for them to buy.

panicselling is all about crowd's psychology in my opinion. When the price got pumped a little bit higher than it should be, some begin to fear that this will lower soon and they sell bitcoins which makes the price halts a little bit. That makes more people become fear of that fact and they start selling like hell. Anyway we don't really suffer from it. We just buy lo and sell hi ;D

Why sell at all.  Just keep buying BTC and when you have enough to retire forever then sell.

I think bitcoin like any other coin has a lot of weak hands.
When some big investors sells you see a extra action from the weak hands.
The can't handle this kind of disturbance

The more volume you see, the more weak hands are trading.
Having weak hands is perfect for trading. You make the most profit with them either buying or selling.

No one makes money without the price moving. What we might think of as weak hands might all be pros moving the price where they want it to go. I'd love to know what the life cycle of weak hand is. A lot must have faded away over the last couple of years.

Yes, but the weak hands are in a constant supply. With bitcoin price increasing more people will come into bitcoin, try and speculate and thus we can sell our coins to them too.
or even buy our coins from them.
The life cycle would be 1 month at most.

@OP,
You are actually right on your statement, but this is how it's been working since past 5 years, and I guess it will be the same the next 50 years, that's why we see big people getting involved with huge spikes in volumes and price...

Well every market has weak hands. EVERY market. One market more then the other. With bitcoin we have a lot of investors and so more weak hands.
So it's not possible to stop panic selling, The only way to see it as something positive..

Would be to take advantage on their wrong selling strategy ;)

I don't understand the analogy to be honest. Bitcoin was created to be an alternative way to either store value, or use it as a currency daily.. it has all the uses you want to give it to it, nothing its written in stone.

OP i think blockchain is the technology and bitcoin is just an example to show how blockchain exactly works. Public ledger, multiple verification of transactions, anonymity etc are some good things about the bitcoin or blockchain technology. I think in future we will see lots of other idea working under blockchain technology.

I like the panic sellers actually. They are the reason we see so much fluctuation.
Panic sellers, panic buyers are making it happen.

With it I mean obviously the profit thing ;)

Panic buy and panic sell is never good for long term, if you see it from short term and getting profit only then you are right about this however this unstable price is the reason that drive people away and we will never be able to see mass adoption for bitcoin

I never panic sell or panic buy. I always determine and analyze the market.
Right now i think it is a good way to buy since the potential is good.

Therefore i am buying.

This... If you are panic selling or panic buying you are always going to be too late to the party.

You will always miss out on the biggest gains and you will always hit the biggest losses.

Pick a strategy and stick to it.

with bitcoin it's always a good time to buy because of the potential value in the future which is far greater than than the possible fall that may happen

and unless you're a day trader, selling is never a good option

Panic buyers/ seller, are actually very bad PR for bitcoin. The moment people lose they will not come back.
A steady, more adult market, would befit bitcoin.

That was Windows 3.x

Windows 95 was where they added the collapsing menus like Macintosh

Yeah, I'm one of the morons who use a computer daily but don't really understand the inner machinations that make it work.  Or how to fix one.  It's the same thing with a car for me.  Bitcoin is pretty damn easy to use, but it's the same thing.  I don't understand cryptography by any means but I can use bitcoin.  I'm weak hands personified.

That's no weak hands Sir. That's just not technical.
Weak hands are those who see a pattern and don't now how to deal with it so they panic sell or panic buy.

The sheeps..

We have seen many panic selling, and in 2016 we will see a lot more of it.

But some panic buying will also happening. Let's hope it will be for the good of bitcoin.

Anything that is this volatile and young is going to be a speculative venture. That is just the nature of bitcoin at the moment and you can't fault people for investing in it.

Even people who are expert cannot ensure about it, it is type of investing like many other investments and it has benefit and lost.

I think most people are sensitive for turbulent changes.
When the price goes down like 20% in 1 day they think they have to cover their loss.
Which sometimes is a good decision. Don't forget that.

Everybody is emotional and have a breakingpoint. The key is to analyze the market objectively.
Doing this you know you can make serious money when there is blood on the streets..

I guess we will see this behaviour in every market.
I consider myself an average to experienced trader but even I sell sometimes in a rush.

Those that dont sell when prices moves down 20 % in a day is absolutely a fool because there is no way to recoup your losses back if you dont sell. If you cant do the math, 20 % of current $400 is $80, why would you keep holding if the price goes down suddenly by $80 in one day?

I don't agree with this, Bitcoin can be used for whatever people want to use it for. I think for some people, it will only serve as an investment tool and for other people it will serve as a currency.

Bitcoin can be and whatever we want it to be. It is literally in our hands how it comes to take over the economic world. What we do with it and how we mold it into, right here, right now.
Prosperous new year of the bitcoin one and all!

Well you could wait until it goes back up.  If you sell, then there really is no way to recoup your losses.  If you hold, there's a chance.






Why would you sell at $320 when you didn't want to sell at $400?

if the prices went up $80 id be iffy on selling 50% chance i would sell, but if the prices went down $80 i wouldnt sell for sure. because if i sold now then i lost money overall.

Tell that to people that keeps holding when they bought it more than $800 , ot has been years since we see that price and there is no telling when wil we reach that price again. Cutting lose is a best way to get some losses back, you can then buy at lower bottom and sell it higher

The price might go up $100 in one day. The price is too volatile to predict. The long term price is up.

If you really cut your losses and want out, you shouldn't be speculating on bitcoin. For all you know, the point where you decide to cut losses might be the point where the tide turns. Then you miss out on a rally.

If you couldn't speculate on Bitcoin, it wouldn't be nearly as popular. If it was just another type of money where your $1 can never be anything more than $1, I'm pretty sure there'd be almost no one using it right now. It's the unpredictability of Bitcoin that makes it so attractive to a lot of people, the fact that it is not impossible for you to wake up one morning to find that your $1 is now worth $10.

Well the volatility certainly drives some of the speculation about the price, but there are also the people who will use it that are genuinely interested in using the platform as a means of currency transfer, and that is good for the currency as a whole.

I think that Bitcoin will retain a lot of its volatility until there are investors that work to stabilize the price, and even then we can see quite a bit of volatility.

no it can not, it would kill the mining scene entirely, there is no more real profit around $100 for the miners anymore

We all have our opinions on how we should use bitcoins. I think we can and should do whatever the hell we want with it. It's not like anyone is telling you what to do with your fiat money. Some people use bitcoin as their solely currency and use it in their day to day life. Some just use bitcoin to save up, which is fine too.

Offcourse you can do what you want. But having so many panic sellers is so sad.
In a way it's good, since we lose weak hands.

I dont think we should blame the panic sellers. It's their money so they can sell and yes even panic sell.
In the end it's their loss right?

Panic seller or not, i like to earn money and seeing some panic selling in the market never frightnings me.
in fact I am confident the profits made with a crash is 99% of people who panic sell.

So keep it going on.

I think that Chinese mining farm will still profit with bitcoin price under 100$. Everyone else won't. We are in the era of industrial bitcoin mining anyway.
Huge ASICs farms are the only reliable way of mining nowadays. If you are solo mining you are not doing it for profit but instead it is more of a hobby.

Everytime someones sell then there is someone that buy but with panic selling, the price that you are buying could be higher in number if the sell pressure continue. Perhaps you thought that as long as you got profit then its fine but once you in huge red because of the sell pressure then you will be the one crying for it

If you bought the bitcoin when the panic selling a week ago, you are in profit now. Buy when others are panic.

no, because the diff would have been very high by the time we go sub 100, it's not possible for anyone to have profit with that rate, already today any farm need at least $60-$70 as a minimum to have their profit, this with current diff

that's how smart people are trading. they benefit from the panic in the market created by these panic sellers. but the thing is, most of the people are too scared to buy when the price is going down. it doesn't feel good for them. these panic sellers allow us to make good profits as they sell their coins to us for a low price, and when the price is going back up, they will buy their own coins back for a much higher price. :D

It happens when you are so lucky, because you really don't know where the peak is whether it comes to upside or downside...
Just think that if BTC would have gone back $250 floor and might have remained stable for next 6 months again and you would have bought at $350, would you still say you are in profit???

This video is a perfect example of people not understanding the ramifications and importance of disrupting technology:

https://www.youtube.com/watch?v=lskpNmUl8yQ

This is how Bitcoin haters act nowadays. They are entitled, ignorant, and think they know better. These guys deserve to stay poor. We are the pioneers and they are the dumbfounded spectators that will not make it.