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Author Topic: Why people dump their Bitcoins ?  (Read 9303 times)
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October 06, 2015, 09:47:43 AM
 #1

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ? 
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

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October 06, 2015, 09:50:40 AM
 #2

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ? 
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

Basically the price first start to be pumped so this group of people have made profit.
Then they want to make panic to other to sell lower, they don't make profit at this stage.
Before that they made buy orders lower than normal so they want to reach that, have you seen that after a dump there is always a pump to make a little profit for this kind of people.
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October 06, 2015, 09:56:17 AM
 #3

I think that a certain type of "climate" is created that suits to the certain group/s of people and that cliomate determines BTC price. The purpose is either to lower the price at certain moment or to ump it up. That can't be avoided.

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October 06, 2015, 10:03:08 AM
 #4

If you mean dump by selling and not buying back, then that's just normal for someone who's been holding in a bear trend for over a year.

Shorting on the other hand is a good way to protect the value of your portfolio.

Other reasons include businesses or profitable traders who just sell their profits for fiat.


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October 06, 2015, 10:05:27 AM
 #5

panic is always the key factor when it comes to not so experienced traders. they are simply in bitcoin to make quick money. they only don't know how to play the market. some of them think bitcoin will end due to certain bad news articles and begin dumping all their coins.
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October 06, 2015, 11:30:47 AM
 #6

emergencies, quick buck, paying their bills because their are miners, thinking that bitcoin is done and want to get rid of what they think it's just dust sitting there, etc...
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October 06, 2015, 12:28:20 PM
 #7

i think that panic and his need of money are the main reasons about why someone will dump his bitcoins.

i understand the needed of money will force you to sell your bitcoins, but panic?, whatever who sell his bitcoins because he have panic didn't understand well what bitcoins is, they will repent later.
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October 06, 2015, 12:37:25 PM
 #8

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ? 
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

I think that the price is dumped from speculators which want to earn. They hope that the people from the dump of the price sells their bitcoins (their which have few and are not expert or can be taken easy from the panic). This will decrease more and more the price. In the most of cases the firsts arrive their aim and when the price go very down they buy in big quantities. having is this way more bitcoins. After the end of the panic the price arrive its normal value. In this way the speculators have more bitcoins and their value is greater than the start of the speculation.
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October 06, 2015, 01:24:24 PM
 #9

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ? 
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

The person who needed money to pay bills, medical emergencies, or just quick money, is probably the one who will dump his bitcoin.  I think the need to understand very well what bitcoin is will help not to act hastily.
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October 06, 2015, 02:17:11 PM
 #10

i think it's panic indeed, but some people do have costs, for example miners.

a lot of sold bitcoins are also from shops accepting bitcoins and then immediately converting to fiat.
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October 06, 2015, 02:30:38 PM
 #11

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ? 
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

They lose faith and began selling their coins.
If they stop believing it doesnt mean I would be conformed.
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October 06, 2015, 02:41:02 PM
 #12

i think it's panic indeed, but some people do have costs, for example miners.

a lot of sold bitcoins are also from shops accepting bitcoins and then immediately converting to fiat.

Even miners I don't see an explanation why they are selling honestly , they could hold .
Opening a Mining farm should cost one million dollar or something right ? which means only millionaire are going to do that and just by taking such a risk means that those people have a lot of money and I don't need these miners to live but just for Extra cash so they can just hold ...

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October 06, 2015, 03:56:02 PM
 #13

i think it's panic indeed, but some people do have costs, for example miners.

a lot of sold bitcoins are also from shops accepting bitcoins and then immediately converting to fiat.

Even miners I don't see an explanation why they are selling honestly , they could hold .
Opening a Mining farm should cost one million dollar or something right ? which means only millionaire are going to do that and just by taking such a risk means that those people have a lot of money and I don't need these miners to live but just for Extra cash so they can just hold ...

Yes, but they have to hedge somehow. What happens if Bitcoin drops unexpectedly 30% over the night? They would lose a lot of money, the miners. So they sell all the time, even if they don't need money to be in some equilibrium.

If these miners already have a lot of money, millions as you have said, don't think that they don't care about each and every dollar out there. Trust me, they do. That's how they got to have a million or two on the side in the first place.
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October 06, 2015, 04:43:51 PM
 #14

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ? 
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

Miner are good example who are in regular selling to compensate their running costs like electricity cost or any hardware rentals. If some one is selling means he does not mean dumping. In a free market everybody has their own right s to buy as well as sell.
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October 06, 2015, 05:05:24 PM
 #15

i totally agree with other replys, the most of the people dump are the people who are in need of money for paying their loans , their expenses, and some do gambling,. but the rich ones will start collecting the btc at lower and hold it for the market to go high.
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October 06, 2015, 06:06:17 PM
 #16

I can tell you some reasons why people dump their Bitcoins right away:

1. People are emotionally fragile - any sign of bitcoin problems are cue for them to sell.
2. People are impatient - they want to profit fast, if that is not happening they dump coins tired of waiting.
3. There are situations when you need FIAT asap, that is why they dump their coins.
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October 06, 2015, 06:08:52 PM
 #17

Im that person
I want to earn fast but i dont know how
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October 06, 2015, 06:18:27 PM
 #18

I can tell you some reasons why people dump their Bitcoins right away:

1. People are emotionally fragile - any sign of bitcoin problems are cue for them to sell.
2. People are impatient - they want to profit fast, if that is not happening they dump coins tired of waiting.
3. There are situations when you need FIAT asap, that is why they dump their coins.

Some people earn their salary in BTC.

The ecosystem for BTC is quite there yet to fully transact and get all your needs with bitcoin alone.

Fiat is still king

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October 06, 2015, 06:27:46 PM
 #19

The same reason other people dump their investments, they need to pay bills. Some early adopter that bought their coins at $5 would be more than happy with what the price is today.
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October 06, 2015, 06:30:15 PM
 #20

People dump or sell thier bitcoins due to many reasons..some of these reasons are panic--Some people lose patience watching the price of bitcoin drop and they just got panic enough to sell thier coins and walk away and thus just dropping the price of bitcoins little more...Another reason is loss of trust in bitcoins..People also dump bitcoins when they hear a lot of scam going around by people related to bitcoins stealing etc and people think that bitcoin network isnt secure so they sell and walk away Tongue
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