This is not about being blind and rushing into things. This is about being in a state where you can make decisions. Compare that to a state in which you can only sit and wait. In other words, you can be positive while remaining a realist and overall cold-blooded when you make your trading decisions. I see no conflict or contradiction here. In fact, being realistic already assumes having a positive attitude.

It always comes down to the balance of supply and demand in the end. So your, or rather their, first point is kinda inconsequential because it is universal for any price of any publicly traded asset. It is more interesting to see what the driving forces are behind supply and demand, what moves them either up or down. Regarding other factors, I would add adoption and real life use before anything else as it is what gives life and vibrancy to the technology. Without real use, any technology will be of interest only to speculators (and likely scientists).

After all, it is their choice for which they pay the price. I'm not telling anything new, what I say has been known for years.,if not centuries. Some of us are more pessimistic by nature, some more optimistic - these are the lucky ones, but in the end it is not something which is set in stone and cannot be balanced out. There is another wonderful wisdom which says if there is a will, there is a way.

You seem to be missing the whole point of this thread, and not just you, to tell the truth. You can get your money back by riding volatility, doing arbitrage, and likely via a lot of other things which I even don't know about but you should have a positive attitude toward what you are doing - in this case, trading. When you are positive, you will search for ways to change things and the status quo. You will look into opportunities of earning back what you've lost. It is not given that the price will ever go back to previous highs in the foreseeable future - or at all, so passively waiting may not be a viable option, all things considered.

You can search the forum or wait until someone points you to the appropriate topic. I remember some dude has been claimed to have like 800k bitcoins, and he is not Satoshi Nakamoto.

Anyway, you can perform a search in Google. Just fill in "biggest Bitcoin wallets owned by individuals" and you will find out everything you wanted to know about who officially ranks the highest among Bitcoin owners. Okay, I carried out the search myself and here's the list of top Bitcoin holders. Ironically, Uncle Sam is listed as one of them, though I'm not sure that he cuts as an individual.

Satoshi is not the only one with a huge stash of coins. I've read somewhere around here that there are a few guys roaming in the wild who have more than 100k bitcoins in the wallets. What if one of them decides to cash out one day? Before the Mt. Gox dude, it was all theory and speculation, but now it is no longer the case. It is a new reality, a reality where one whale crashes the price dozens of percentages in a matter of days. Surely not something to discard or write off in your investment decisions.

Myself, I have nothing against that. But this topic is not about the people who invested in Bitcoin as something which they expect to take or win over the world in due course. In essence, it is more is about staying positive when you see massive losses accumulating - and acting accordingly - if you are not quite happy with that. Obviously, those who think of or believe in Bitcoin as a new revolution, they don't fall into this category. But they are minority here.

This has everything to do with everything else in life, not just with trading, crypto or blockchain. People with a positive mindset and overall optimistic attitude are a lot more successful in life than their more negative - or just negative - counterparts. The point is if you are genetically, or whatever, predisposed to a negative mindset, you have to consciously change it if you want to succeed in whatever endeavor you choose to pursue. As I explained in OP, people with a negative attitude or just in a down mood are not inclined to act purposefully and effectively, but without action there is no reaction.

People rarely make the same mistake twice, it is typically thrice and many more times. It is somehow assumed that people are able to learn from their mistakes. What the heck, it is even assumed that they should learn from the mistakes of others. But it is hardly so with either of these assumptions, at least not in trading. Most people will make the same mistake all over again until they understand and accept that they can't get the hang of the thing and go away or until they lose all and then go away as well.

Can't agree more with that. This is the attitude that I stick to myself. If you are a trader, as opposed to being an investor - otherwise known as bag holder most of the time, you should primarily care about volatility and your ability to ride it. But crypto has yet to fail us in this department. Obviously, that requires a positive mindset. People who whine about low prices will just sit and see how prices go lower and their capital disappears into the haze.

There is a wisdom which says that false hopelessness is much worse than false hope. You may think that it is just a catchy phrase but it is definitely not. When the prices fall as hard as they did since December, it is difficult to stay positive when you had bought right at the peak. But you really should. The difference between staying positive and negative is colossal and life changing. When you are feeling negative and depressed, you won't do anything. You will just curl up in a fetus position and cry all day long over the money you have so carelessly invested in Bitcoin. However, if you stay positive and look forward to a better future, you will be actively searching for ways out of the predicament you got into.

As a matter of fact, there were quite a lot of opportunities along the road to balance out the losses since December, and if you focused your attention on these opportunities instead of pointlessly crying over spilt milk, you would now reap profits, literally. This is what seasoned traders do all the time and you can do as well.

False hopelessness is more dangerous and detrimental than false hope. When you feel negative, you will be just sitting and crying over there. When you are feeling positive, you will be more inclined to act consciously, not like in panic selling when you don't understand what you are doing. There were plenty of opportunities to make up for the losses since December, and this is what people who think positive must have already done numerous times. Now they are earning profits.

I'm not sure I understand what you refer to here. As far as I know, there was no selling of this scale in the past at prices so high. The FBI auctioned off a few dozen thousand bitcoins in the past but that was an off-market deal anyway and it didn't affect the price for obvious reasons.


Are you sure you know how panic selling actually works? I think there are no more panic sellers left on the market by now, in massive numbers. The vast majority of them should be gone already. That likely explains why we no longer see flash crashes - in the absence of bearwhales of the Mt. Gox custodian scale, at least.


The price can stop falling as either supply dries up or demand builds up. I'm talking about the process, not the end result in this case.

The current state of limbo may drag on for some time yet, but personally, I expect the interest toward crypto assets to start rising again in a few months or in about a year in the very worst case scenario. It took almost two years for the repercussions of the Mt. Gox bankruptcy to dissolve finally but today's situation is not that bad as it was in 2014 and 2015, so things may get back on track a lot faster now.

You are impatient because you obviously lack awareness. Awareness here means understanding how markets - and crypto markets in particular - work. It has been said numerous times already, by me and others, that price cannot be stable for long, and the longer it stays at a certain level or trades in a certain narrow range, the stronger will the next movement be. Market fools people like you who are bored into setting bigger orders at closer ranges and then eating them all in one huge swing, either up or down. It happens time and time again.

People had been saying essentially the same when the price first reached 12k - after it plunged from an ATH of 20k. It didn't work out very well in the end, though it was a good and sound - if sound is the right term to be used here - dead cat's bounce when the price went as high as 15-16k. It turned out to be the last chance to get out mostly unscathed for those who bought at the peak in December. Then there was a good deal of talk about "consolidation phase" at and around 9-10k, and now we are trading sideways below 7k.


It will recover in due course but there are many questions as to when it will happen, from what levels exactly, and which coins will recover better than the others and which won't recover at all. It is not just about Bitcoin.

Yes, I know how much Bitcoin grew up since it had reached the bottom in 2015, in January and August, to be exact. But it doesn't mean a shit. Past performance is not indicative of future results or outcomes. So far we are sliding down, and this is what matters, right now right here. The future is widely unknown, so you can in fact interpret some news or even all the news pollyannishly positive. It is your choice after all, and that will likely make you feel good or better if you happen to feel bad - for some time, but that alone won't be enough to change the market sentiment which is still overall negative.

Though I don't believe we will go below 5k, at least not for long.

It is not only about making it easier to exchange goods or services, though it is definitely so without doubt. In the days of direct exchange, you and your family or your tribe could well exist completely on their own without any exchange of goods at all because in those backward times you exchanged only things that were in surplus. Money came about when the division of labor had started to emerge and exchanging goods had become a vital necessity, when you started to produce goods which cannot keep you going on their own and you had to exchange them just to survive.

If this is all good news as you claim, then why is the price still going down? You can't fool the market all the time, right? Other than that, without the exchanges ostensibly controlled and manipulated by the cartel, the price would likely still be in single digits and the whole cryptoverse virtually unknown to the wider public.


Or more beggars are being produced.

These topics and arguments emerge occasionally now and then where some people claim that the price can't fall below some cost of mining. Obviously, this is nowhere near how things stand in reality. First, there is no certain cost of mining because every miner has different costs even if his fellow miners have the same electricity prices or the same equipment. And then, miners don't dictate prices, prices are determined by the market, while the role and importance of miners has long seized to be a factor there.