I think its the average Joe that is mainly panic selling and the big boys are just buying more and more.
If you study the charts, the recent panic selling was started by big holders. Thousands of bitcoins were dumped in a matter of minutes after the Mt.Gox announcement. The average small time BTC holder most likely did not even know about it at the time and dumping was actually instigated by whale type of holders. |
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I disagree. I am a holder and sometimes I see the exchange rate increasing too far, too fast (even for Bitcoin). If there was an exchange I could trust, I would be able to decrease volatility by selling some coins when this happens, knowing there will be a violent correction some time in the future. Then when the violent correction occurs, I could repurchase my bitcoins helping reduce the violence of the correction. I would earn additional bitcoins by providing this service (volatility reduction).
It seems the "herd" likes to follow others and buy like madmen when the exchange rate is going up, and sell like scared children when the exchange rate is going down. Playing against the herd is how you make money, I don't care how many people say, "The trend is your friend".
Unfortunately I don't trust any exchanges, and by holding I add to the volatility of Bitcoin by not being able to act when things get out of control (in either direction).
TL;DR: Holders do not add liquidity, which is needed to help reduce volatility.
Edit: Oh, regarding the OP: Yes, I'm holding. The current situation is annoying, but it doesn't break Bitcoin. Sorry for those trolls who keep saying it does.
I was thinking more of the current downtrend situation. Hodlers act as bitcoin's plunge protection team. Imagine if all those twitchy/weak handed r/Bitcoin users traded often.. it would be insane. |
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perhaps HODLERS are beginning to feel the FUD creep in and need this thread to comfort each other and spam "to da mooon"
If most bitcoiners did day trading, bitcoin price swings would be insane. Hodlers keep the price somewhat in check. |
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That was Bitcoin @ $2, the it works until a bigger fish eats you for a snack when you short.
It still sort of works if you have the balls to do it.  The bitstamp panic of last night is a great example. |
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It's also much more stable and far less likely to go to zero. That's the tradeoff.
Bitcoin is at best a wild gamble, and at worst a pyramid scheme. But yeah, you can make mad loot (temporarily) with btc's volatility.
Trading bitcoin is the easiest thing in the world, nothing like gambling. Especially now with many of the swings being based on breaking news. You just need to short/go long before the masses got informed. |
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Choo-choo mofos, gold train leavin' the station !
Gold is boring... you can beat its YTD gains in a single BTC bounce. |
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I'm not sure about that, now coming mass withdrawal from bitstamp.
The recent statement is only regarding BTC, not fiat. |
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Now we need a lot money from MtGox and Bitstamp, but they will not have the money to make payments !
You get your fiat from bitstamp in 2 days. No worries there, but if they start halting fiat withdraws then you know something's up. |
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At least they don't blame the Bitcoin protocol and they say they are solving it with a simple software fix of their own.
Yeah, but the retarded mainstream business media might spin it into fear mongering. We'll see. |
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2014 supposed to be bitcoin's year of wall street.. yeah, the year they fund covert FUD and buy up cheap.
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Hodlers will get burned:  Such foresight.  |
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I got some! |
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Mark is sitting on his ball enjoying his dessert coffee not caring about you all. |
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Coinbase is for noobs who aren't verified yet at proper exchanges. So, it is easy to profit of them.
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@theTruth
Tell me.
Just how does a decentralized currency that cannot be controlled by a central authority serve the interests of of a centralized world government?
Bitcoin does pretty much the opposite of what any self respecting one-world totalitatrian government would want.
Back doors in the code, only top secret services know about and the average code monkey can never figure out. Or It is used as a pump and dump tool by big banks who are experimenting with cryptography based currencies. |
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from Gox to BTC- e?
LOL!
ya. that's a move in the right direction.
BTC-e is awesome. Trollbox and altcoin pump and dumps |
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In the future bitcoin will have its own decentralized trading language/dialect. |
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