Give it a rest people. Nothing below 800 counts. Also I hate when people change the title of threads.
This, this, +1000. The sanest post on this thread. You other guys just don't get it. In order for there to be a true rally, we first need to a) break the resistance @ 550 and then b) break 800. Until then, no moon. |
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Right now is the best time to sell and you can buy in later when the price plummets.
Gonna plummet, aye? Proof, or just more ass talk? |
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I love how everyone on this subforum talks in such definitive absolutes, like they are so sure that they know exactly what is going on without ANY facts or analysis to support their conclusions or theories: The hodlers are finally getting tired of waiting and have started selling.
And you know this how? Proof? Buying and selling of goods has slowed down a lot as everyone is holding btc going to get rich.
Proof? Either the price will hold or go down from here. Probably down.
So sure are you? TA to back it up? |
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I've long suspected that the Exchanges sweeping the "dust" from all of the individual trading transactions is actually how their owners will get rich someday.
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It would have only worked in 2011, all other years it would have been a bad move.
Agreed. Although just to be a little bit of a contrarian, Jan-June 2012 was a pretty protracted bear market...6 months of mostly down or sideways. It only really started to pick up again in July of that year. |
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Surely if 'existing participants close shop in droves', there'll be no new participants entering the bitcoin economy. If they see others giving up on it, they'd be unlikely to enter themselves?
In real life, investment/development decisions are not flip-flopped overnight. There are factors like funding, resourcing people, etc. that make the planning horizon to be at least several months, even years. The closure of Mt.Gox did not affect Malla at all. It may have postponed many ideas that were in planning stage, and it has definitely built up a growing backlog of people who would have liked to buy bitcoins but are now hesitant since they await for clearer waters. When all these start to move, they will be the building blocks of the next rally. Last summer we did not see the rally immediately after the capitulation. It took months for new people to become confident enough to start buying. Patience! Don't sell now!  Risto, thanks again for your level headed and clear perspective on overall bitcoin analysis. You are one of the few on this board that takes a rational, intelligent, and fairly optimistic approach to bitcoin's long term potential. On the notion of "boredom selling", I've thought about this idea is well. The probability of selling out of boredom would seem to be affected by factors such as: 1. Respective to one's entry position, i.e. buyers at the lowest historical point will not have seen a lot of volatility, and a higher chance of seeing a protracted "sideways" stagnation movement...possibly for months. They also have the least to lose percentage wise, even if the price goes a bit lower. So their probability of selling out of boredom if the price stagnates for a long period would seem higher relative to others that invested at a much higher price point. 2. Inversely proportional to how underwater one is in terms of *total* investment. I.e., someone who invested $300 worth total when the price was at $1000/BTC has less to lose overall if they boredom sell at $500/BTC (their loss being -$150 total). But someone who invests $30K when the price was at $1000/BTC has much more to lose by selling now. People are more willing to lock in losses when they are relatively small, but not so much when they are great. 3. Conversely, some may have so relatively little purchased compared to their net worth (like say $10-20) they they don't really care to sell at all, even if the price goes down from their entry point. 4. Maturity level of the buyer. The more mature the buyer, the less likely they will boredom sell. So the question is, out of how many holders of BTC really have purchased a) enough to matter to them to continue holding onto it, and b) what is their average entry point and total investment mean average (+/- %) relative to the current price level? I'm guessing this is not an easy thing to even try to estimate, if not impossible. |
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Well, there are certainly similar currencies that are working this way, albeit on a much smaller scale: http://brixtonpound.org/why-use-b-2/b-benefits/Bitcoin has the potential to be the universally accepted "brixton pound" for the whole world. |
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So if I buy gold to use as a store of value, and then sell it later, am I gambling? How about property as a store of value? If I exchange $USD for another currency, hold it, and then exchange it back, am I gambling?
Basically yes, it's speculation if all you're planning to do is sell it later for a profit. It's called land speculation or currency speculation. I know what it's called, I wasn't born yesterday. Yes I'm fully aware that some people speculate on their "store of value du jour." But some don't speculate at all, they simply want to store their fiat into something that they hope won't depreciate relative to the fiat over a long term. If the store of value is fairly 'deflationary' (i.e., PMs, land, high value art, antiques and collectibles, etc.) they know that fiat $ will over time eventually lose its 'value' (i.e., purchasing power) relative to these other stores of value. That's why it's called a store of value and not simply a bank account. That's why Argentinian's prefer to exchange their pesos for $USD, because they believe that it will hold the value (purchasing power) better than pesos. By your definition, exchanging fiat for anything of lasting value (as opposed to something expendable) is considered "speculation" and "gambling." |
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Buying bitcoins isn't investing. Unless you're buying them to use for purchasing things, you're just speculating.
Merely buying and selling bitcoins is just gambling like a casino, stock market or lottery.
So if I buy gold to use as a store of value, and then sell it later, am I gambling? How about property as a store of value? If I exchange $USD for another currency, hold it, and then exchange it back, am I gambling? A good reason that some sell their bitcoin back to fiat is that not all merchants except bitcoin (yet), can't pay their bills or rent with it (yet), can't pay their taxes with it (probably never will happen), can't buy a new car with it (yet), etc. Hell, if I could use bitcoin everywhere for all my purchases, pay my taxes with it, and get paid directly in bitcoin, I'd never use $USD ever again. If that scenario came true, I would still hold some BTC in my account (like a savings account)... and that's not gambling to hold a currency. |
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Just stop.
You tell him to stop for spreading suggestion to not panic sell? You like the topics wich are trying to make you panic and sell because by their logic we are going to fall to 0? What a silly guy  No, I interpreted his post to mean he thinks it will go to 100 first before bottoming out. Hence spreading more panic, with absolutely no analysis or anything to back up his post. But it's entirely possible I misinterpreted his meaning though, as the ending sounded somewhat positive. At any rate, it's time this sub forum got cleaned up and folks stop posting completely innane threads. |
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First of all: I'm no hodler. I cashed out when things got a bit too scary for my taste. Second of all: I feel bad for everyone that has lost money or is on the verge of losing money. You have my sympathy.
Bitcoin is in a prominent bear market at the moment and the current exchange rate might just be a pitstop on the road downwards. What amazes me however is that so many people, people that can actually read a chart, really feel entitled to another quadruple digit rally. Wait, check that. They are sure it is going to happen. Even amidst the chaos of the last days I can still see people claiming that it will reach 10.000 dollars; some even say it will reach that number in three months already.
What I find so curious is that many HODLers here seem to have a very religious devotion to Bitcoin, despite the serious situation Bitcoin is in. Some seem to be even more devoted to their own religion of Bitcoinism than the pope is committed to the Roman Catholic Church. I believe this to be a very dangerous attitude, given the risks involved. It wouldn't surprise me if quite a few posters on these boards are all in with all their life savings - or have even indebted themselves - and are sure shitting themselves at this moment. It might be a religious, god revering response to look up and say to yourself: 'Everything will be all right, I just know it'. They discard any possibility that some guy will come around with a new, superior protocol in as short as the next few years and just blatantly ignore the fact that Bitcoin is not alive at all among the vast majority of the population. Next to that: they probably have a good feeling that governments will not allow capital to flow unrestricted and out of their scope, but still they ignore it.
Question is why? What is it? Desperation? Total mania? Tell me. I just can't explain it anymore.
Wow, the intelligence level of this sub forum has fallen to an all time low. I don't even know where to begin. So now anyone in the masses that buys bitcoin is considered a religious fanatic? I guess everyone that acquires fiat currency of one kind or another is considered a religious fanatic too? It's very simple: the masses that acquire and want to use bitcoin simply believe that it is a BETTER form of currency than any other option they are given atm. And yes, they believe that it is a paradigm shift in currency and what currency should be now and in the future. What part of this simple statement don't you understand? If you can't understand this, then what are you doing here? |
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There are 3 categories of bitcoiners: bulls, bears, and idiot troll day traders.
The aforementioned people are in the last category, and are a) attention whores and b) trying to influence as many people as they possibly can with their relentless garbage threads.
The people that will ultimately win this game are the long time hodlers (like me), because we don't give 2 f**ks about the idiot day traders and all their negative dribble. Wouldn't want to be friends with any of them to be honest. Too bad their threads can't just be downvoted into oblivion on this sub.
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You're taking huge risk buying bitcoin even now.
There was no demand on what everybody considered cheap coins in the $400's. I don't see the demand being there in the $300's.
I would sit out the market and stop trying to time the bottom here.
It looks more and more that china was the reason bitcoin went above $12 and now that china is out it will fall back down again.
I'm calling this idiot out right now, go back and read his posts from the past 2 years. Here's a choice one from Oct 2011: All I know is this is a new downward movement we have here.
I think bitcoin is finally going under, we should have selling pressure into the $2.00 and $3.00 range. Personally, for the last months I thought around $2.00 would be a good buy, but now that we are this low, I do not even think I would buy any considerable amount of bitcoins at that price.
So whoever listened to Edward50 in Oct 2011 and didn't HODL their coins at $2.00, $3.00, $6.00, or even $30, all because they decided to take his wonderful advice, is probably really really pissed right about now. Torque, why are you taking my posts out of context. I was one of only a few bears who was predicting a big crash from the peak at $30 all the way down to $2.00. At the point it reached $2.00 it looked like it may even go lower, however, it had to stop someplace. My buy in point was actually $1.00. You taking out of context the times those decisions were made and now comparing them now is just ridiculous. Because like those retards fonzie and cosmofly, you are just annoying as f**k and are constantly starting new threads every hour, and blathering on and on about how bitcoin is doomed. You've got 2+ solid years of thread history to prove that all you do blather on and on about how bitcoin is going nowhere and that it is WAAY overpriced. You screamed like a little girl that it was WAAAY overpriced at $3 in 2011. And if you really invested at $1, then why in the hell have you spent the last 2 years in this forum sub thread trying your best to act like a troll and spread doom and gloom? Wouldn't you want it to flourish instead? Oh I know why. Because you're just an idiot troll, just the like others. I'm sure you'll still be here in 2016, telling everyone that bitcoin is doomed and going nowhere when it's north of $10k. |
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You're taking huge risk buying bitcoin even now.
There was no demand on what everybody considered cheap coins in the $400's. I don't see the demand being there in the $300's.
I would sit out the market and stop trying to time the bottom here.
It looks more and more that china was the reason bitcoin went above $12 and now that china is out it will fall back down again.
I'm calling this idiot out right now, go back and read his posts from the past 2 years. Here's a choice one from Oct 2011: All I know is this is a new downward movement we have here.
I think bitcoin is finally going under, we should have selling pressure into the $2.00 and $3.00 range. Personally, for the last months I thought around $2.00 would be a good buy, but now that we are this low, I do not even think I would buy any considerable amount of bitcoins at that price.
So whoever listened to Edward50 in Oct 2011 and didn't HODL their coins at $2.00, $3.00, $6.00, or even $30, all because they decided to take his wonderful advice, is probably really really pissed right about now. |
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For all you guys thinking this will all be over by 4/15 and don't understand how the Chinese gov't does things, it's called "Moving the goal posts."
Please let me explain with a brief synopsis:
Date: 4/1
PBOC: "All 3rd party payment processors have to cut off ties to bitcoin exchanges by 4/15."
Exchanges: "So.. bank accounts aren't affected then?"
PBOC: "We just said 3rd party payment processors, didn't we?"
Exchanges: "Ok, cool."
Date: 4/20
PBOC: "All 3rd party payment processors have to cut off ties to bitcoin exchanges immediately."
Exchanges: "Done, as of 4/15."
PBOC: "And bank accounts too."
Exchanges: "What?? You said just 3rd party payment processors only??"
PBOC: "Well you heard that wrong. It affects bank accounts too, but only for withdrawal, not deposit."
Exchanges: "Ok.."
Date: 5/1
PBOC: "All bank accounts have to cut off ALL ties to bitcoin exchanges immediately."
Exchanges: "What?? You said bank accounts were fine but only for withdrawal, not deposit??"
PBOC: "Well you heard that wrong. Bank accounts for *anything* bitcoin related."
Exchanges: "Shit."
Date: 5/15
Chinese Gov't: "All bitcoin related vouchers will be deemed illegal, effective immediately."
Exchanges: "What?? How will we even operate?"
Chinese Gov't: <silence>
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The blood moon will be cool. But I'm looking forward to April 22nd. Do the research (muurrahahaha)
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Yes, agreed. Please expound on this wonderful insight that you have OP, as this forum is loaded with poor ignorant souls that need your divine wisdom!
We need you to provide more details to your insight, at least a couple of long paragraphs explaining your incredible hypothesis! Thanks!
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....since Bitcoin doesn't have enough developers dedicated to the core, there's no way Bitcoin is going to be able to keep up.
More ass talk. |
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I'm tired of all this talk about 'investments'. Bitcoin's value is supposed to come from people using it with some type of decentralized currency model. It's not a stock.
You've gotta be kidding, right TERA? Says the quintessential "Voracious Day Trader"? Sorry to pick on you, I know you're a smart guy. I'm just getting really tired of all the hypocrisy going on in this subforum lately. |
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