I'm dumping my bitcoins so you should

[umaOuma]

It belongs here, not the speculation section.

I was always selling during this fake pump (you really never know when it ends) and will be more as it goes up and I'm not re-buying later even if price goes below $200. I won't regret even if it goes above $1000 someday when I sold two times cheaper. I think it was the last big pump we could ever see.

Someone might say that "I lost faith" but there should be no faith, common sense should be. Let's be frankly. Banks/governments will never use Bitcoin. Instead they will create own scalable blockchains. Normal people will never use Bitcoin. They simply don't need it. This means that bitcoin won't go mainstream and price won't get that high.

Just think how the US government/JP Morgan/BoFA will adapt a currency which majority of emission is held by some kids and cryptopunks. Also 1/21 of coins is held by some anon who calls himself "Satoshi". This is no serious. This is fucking ridiculous.

Comparing bitcoin capitalization with gold's is fucking ridiculous, too. Gold has got history of thousands of years and a lot of applications. Meanwhile Bitcoin is just a virtual asset that's been known for about 7 years and has got very poor applications. What is worse is that bitcoin is not really scalable.

Again. Comparing bitcoin capitalization with facebook's is even more ridiculous. Facebook is a large company that connects the entire planet. Holding Facebook stocks generates huge revenues. Meanwhile BTC is just a speculative virtual asset. Not scalable. Old. Always bloating. Not stable. It's even not decentralized!

Also, such a risk as banning Bitcoin in many countries must be considered. First of all, in China. Chinese government is a totalitarian one and they will finally ban bitcoin if it becomes a problem for them. Just like here, in Russia. European Union will likely ban using of bitcoin someday "to stop ISIS/terrorism financing". The US is not the world. The rest are weak/poor/small countries.

What about the upcoming block halving - price went down when the Litecoin halving happened. Expect the same when the Bitcoin's happens. Don't put into this hype or you will most likely be eaten by whales.

This all doesn't mean the whole crypto scene is doomed. No, absolutely not. I'm sure we will see new much better truly decentralized applications in the near future that will dominate/replace bitcoin. And not just bitcoin.

TLDR: Sell out your BTC; don't rebuy it. Invest in other blockchains. Also, don't get fooled by the "hodl" propaganda that makes you never get a profit while whales do because YOU buy&hold.

Quoting for future reference, in case OP comes back to edit his thread.

Last time he was around it was april 17th. I guess he is now feeling like a complete moron. Well, that's the destiny of every Bitcoin dumper ever. Buy and hold or cry later is a law now.

OP's profile name says it all, indeed he's a greedy kid, he dumped his bitcoins for a bit of profit & now he's regretting though he said he won't but I'm damn sure he's. OP and those who lost their faith in btc deserves it.

People who have dumped their coins in the past will be surely regretting at a moment as price is really high now so they missed the opportunity to make profits.

[1714729976]

1714729976

[1714729976]

1714729976

[1714729976]

1714729976

[1714729976]

1714729976

[JimboToronto]

Forget FOMO.

What's at play here is RAHMO... regrets at having missed out.

[Torque]

Forget FOMO.

What's at play here is RAHMO... regrets at having missed out.

Actually, people that have any regrets about anything related to bitcoin don't understand the whole point of it being a currency/exchange of value.  It has to be continuously bought, exchanged, and used whether some years ago, yesterday, now, tomorrow, 5/10/20+ years from now, and forever in the future, AT WHATEVER THE EXCHANGE RATE IS AT THE MOMENT.

This whole idea of missing out on Bitcoin is like saying "You know I had a chance to buy and use some [USD/Gold/Oil/whatever] some 40 years ago, but I completely missed out back then. So I've never used it since and I'm not going to use it now."

At $1 people used bitcoin.

At $750 people are using bitcoin.

And at whatever the exchange rate will be in the future, people will still be using bitcoin (and since deflationary, I'm sure that the future exchange rate will be higher).

There is no "missing the boat", because the boat is continuous.

[fkvidar]

I will never dump my coins as price will be really high in future and I have made great efforts to earn it so it doesn't make any sense to dump it at any stage of my life.

[d5000]

@Torque: That's a valid point of view. But there is a problem. If Bitcoin wants to be a serious medium of exchange, it must take measures to mitigate volatility.

Imagine you are a poor worker and get paid your salary in Bitcoin. You are so unlucky that just the day you get paid (after you already received your BTC, obviously), the price plummets down 10%. Now as you are a poor worker and really need all the money of your salary, these 10% mean a lot for you, and you won't be able to pay all your bills.

So until the volatility problem is not solved, there will be no massive use of Bitcoin as a medium of exchange or "currency", because it lacks of the "unit of account" property. It will be only used like a stock - an investment you can buy and sell, maybe some very-short-term remittances (when risk is limited) and maybe if you get some profit you may even pay some goods or your bills with BTC.

[Yakamoto]

@Torque: That's a valid point of view. But there is a problem. If Bitcoin wants to be a serious medium of exchange, it must take measures to mitigate volatility.

Imagine you are a poor worker and get paid your salary in Bitcoin. You are so unlucky that just the day you get paid (after you already received your BTC, obviously), the price plummets down 10%. Now as you are a poor worker and really need all the money of your salary, these 10% mean a lot for you, and you won't be able to pay all your bills.

So until the volatility problem is not solved, there will be no massive use of Bitcoin as a medium of exchange or "currency", because it lacks of the "unit of account" property. It will be only used like a stock - an investment you can buy and sell, maybe some very-short-term remittances (when risk is limited) and maybe if you get some profit you may even pay some goods or your bills with BTC.

The is the issue of having a free market, as well as having large supplies of a resource available early on that becomes scarce relatively quickly.

Your scenario is very valid, but Bitcoin will more than likely begin to become more stable once the halvings become small and the investor base is relatively large. Due to Bitcoin being very new and open to a lot of influence, a little news moves the market a lot, and it'll take a lot of money and confident investors to begin flattening it out.

The halvings also have to be smaller than they are, an issue that will be solved in roughly 12-20 years.

[HarryKPeters]

Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

[chaosknight]

Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

Price may go down after the halving when people will sell their coins at the time of halving, but selling now cannot give higher profits so its better to hold for next few days.

[d5000]

Your scenario is very valid, but Bitcoin will more than likely begin to become more stable once the halvings become small and the investor base is relatively large. Due to Bitcoin being very new and open to a lot of influence, a little news moves the market a lot, and it'll take a lot of money and confident investors to begin flattening it out.

Many people are hoping this. But at the same time most of them speculate with a pro-cyclic strategy (buy low, sell high and get out untill there is a new bottom). Because of the high volatility, a pro-cyclic strategy in Bitcoin can be very profitable from an individual point of view. But from a more "general" point of view it exaggerates price swings and lowers Bitcoin's usability as a medium of exchange. I don't see an end of this boom-bust cycle.

I think the community should slowly think about measures to mitigate volatility in an active manner:
- Create smart contracts like in Bitshares that are pegged to a traditional currency (I think it's not possible with the actual code, but a "secondary protocol" like Counterparty or the new PeerAssets could implement that). This stable token should be tradeable for Bitcoin in the client.
- Create marketplaces where traders that "back" Bitcoin (e.g. sell for the same price even in a BTC/USD downtrend) are shown more prominently than those that take BTC/USD as a base for their prices.
- Or even create a group of anti-cyclical traders, like it was already tried in the 2013 uptrend.

[techgeek]

Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

Price may go down after the halving when people will sell their coins at the time of halving, but selling now cannot give higher profits so its better to hold for next few days.

Its a possible scenario, but at the same time it can have a chance to grow even further.

Only because people holding it like almost everyone is, promotes new buyers to come in and this creates even further price points.

[mandica]

Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

Price may go down after the halving when people will sell their coins at the time of halving, but selling now cannot give higher profits so its better to hold for next few days.

That could happen. But the price is also suppressed due to the slow transaction caused by the small block size, if that is increased, the price will rise again.

[yhansky]

Im waiting for the right time to sell my coins.. bitcoin is worth waiting for.
So hold ,earn, in the end youll be the winner.

[Herbert2020]

Im waiting for the right time to sell my coins.. bitcoin is worth waiting for.
So hold ,earn, in the end youll be the winner.

i agree. bitcoin is one of those investments that has a lot of potential for growth and profit, especially since it is still considered cheap even at this price.

besides there has already been a big rise so i don't mind anything since i have bought it a long time ago at the very bottom of the price.

[Cozynunu]

Forget FOMO.

What's at play here is RAHMO... regrets at having missed out.

Actually, people that have any regrets about anything related to bitcoin don't understand the whole point of it being a currency/exchange of value.  It has to be continuously bought, exchanged, and used whether some years ago, yesterday, now, tomorrow, 5/10/20+ years from now, and forever in the future, AT WHATEVER THE EXCHANGE RATE IS AT THE MOMENT.

This whole idea of missing out on Bitcoin is like saying "You know I had a chance to buy and use some [USD/Gold/Oil/whatever] some 40 years ago, but I completely missed out back then. So I've never used it since and I'm not going to use it now."

At $1 people used bitcoin.

At $750 people are using bitcoin.

And at whatever the exchange rate will be in the future, people will still be using bitcoin (and since deflationary, I'm sure that the future exchange rate will be higher).

There is no "missing the boat", because the boat is continuous.

Dumping will be now really bad and that is because the value of Bitcoin started to rise so you can maybe earn some profit soon with Bitcoin and that is nice.
And the hard thing is also that the value of Bitcoin is always changing.

[RobinHoodster]

I'm not gonna dump my bitcoins these days because it has a great future a head and if you are dumping them now you simply will lose a lot of profit in my eyes.
Its gonna rise more and more in the upcoming month..

[bitcoinboy12]

I'm not gonna dump my bitcoins these days because it has a great future a head and if you are dumping them now you simply will lose a lot of profit in my eyes.
Its gonna rise more and more in the upcoming month..

No, absolutely not. Not now. I won't let go of a single coin. Not now. I still believe it would shoot up sometime soon.

[mandica]

I'm not gonna dump my bitcoins these days because it has a great future a head and if you are dumping them now you simply will lose a lot of profit in my eyes.
Its gonna rise more and more in the upcoming month..

No, absolutely not. Not now. I won't let go of a single coin. Not now. I still believe it would shoot up sometime soon.

You are very brave. I believe you will be rewarded in the future. For people who bought the coin in 2010, they are rewarded.

[coinzat]

why people got panic every price fall and they sell their coins cheap. they will regret that soon once the price recover from the falling.

[Real-Duke]

Keep calm and enjoy the possibility to buy cheap(er) coins for the moment 

[bitcoin-hunter]

Dumping your bitcoins is not good at all in my opinion because if you are doing this you will lose a lot of profit most of the time.
Its gonna rise more very soon so its also not smart due to that.