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Author Topic: THE PRICE OF BITCOINS IS CRASHING SELL SELL SELL  (Read 4948 times)
Durr
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June 11, 2011, 02:32:48 PM
 #21

No people with 250.000 bitcoins in their wallet have effect on the markets. And they well know they aren't going to lose this chance of becoming rich, they wouldn't want to be the last ones with Bitcoins losing this chance of their lifetime.

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June 11, 2011, 02:42:35 PM
 #22

Most of you understand these things, but for those of you who haven't lived through the ups and downs of the stock market, housing market, etc:

BTC don't "do" anything, only people do.  If the price is dropping, that means (and can only mean) that there's someone trying to unload BTC below market price - which redefines the market price.  For example, the 'mystery miner' is sitting on 49511.441 BTC; suppose he wants to cash some of that out, and puts a sell order on the dark market for 10000 BTC at $14 (even though the pride is $28).  He doesn't care that it's below market; best case he makes $280k, worst case $140k.

Do you really want to sell -right- when someone (with a hell of a lot more BTC than you) is seling too?  Don't forget that for every person selling BTC at a given price, there is someone out there who is happy to buy BTC at that price.  You may want to consider being one of the latter rather than the former.

Finally, an awesome quote I saw elsewhere on the forum:

"Buy when there's blood in the streets, even if the blood is your own."  -Baron Rothschild

(more advice here http://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp#axzz1OyivE5k2)
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June 11, 2011, 02:50:34 PM
 #23

So what happened to Sam anyway?  He started the thread and then doesn't participate?  Sssaaaaaammmm?  Where aaaaaaare you?

After all is said and done, there is usually more said than done.
Durr
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June 11, 2011, 02:53:30 PM
 #24

Most of you understand these things, but for those of you who haven't lived through the ups and downs of the stock market, housing market, etc:

BTC don't "do" anything, only people do.  If the price is dropping, that means (and can only mean) that there's someone trying to unload BTC below market price - which redefines the market price.  For example, the 'mystery miner' is sitting on 49511.441 BTC; suppose he wants to cash some of that out, and puts a sell order on the dark market for 10000 BTC at $14 (even though the pride is $28).  He doesn't care that it's below market; best case he makes $280k, worst case $140k.

Do you really want to sell -right- when someone (with a hell of a lot more BTC than you) is seling too?  Don't forget that for every person selling BTC at a given price, there is someone out there who is happy to buy BTC at that price.  You may want to consider being one of the latter rather than the former.

Finally, an awesome quote I saw elsewhere on the forum:

"Buy when there's blood in the streets, even if the blood is your own."  -Baron Rothschild

(more advice here http://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp#axzz1OyivE5k2)

Stocks give divident and are backed by a company, it's a totally different thing.

The Bigholders of Bitcoins who just unloaded a few thousand bitcoins have interest in a bounce back to 20$, naturally, they do not dump all at once as they would get less for their bitcoins than if they let it bounce back 20$, consolidate, and sell again for higher price.

Help this puppy survive: http://larrycorreia.files.wordpress.com/2011/06/mr-snuggles.jpg

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Basiley
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June 11, 2011, 04:35:58 PM
 #25

Lol @ people who think threads like these really have effect on the markets
but thats USUAL for people, new to [any kind of]stock market[specific].
they can quickly lose weight/health and etc -)
allinvain
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June 11, 2011, 04:49:35 PM
 #26

Lol @ people who think threads like these really have effect on the markets
but thats USUAL for people, new to [any kind of]stock market[specific].
they can quickly lose weight/health and etc -)

Whoa dude, you mean I can quickly lose weight by trading bitcoins!?  Shocked

bitcoinminer
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June 11, 2011, 05:28:01 PM
 #27


Whoa dude, you mean I can quickly lose weight by trading bitcoins!?  Shocked

Of course!  That should be obvious...

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
dikidera
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June 11, 2011, 06:34:46 PM
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bitcoinminer
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June 11, 2011, 06:36:53 PM
 #29



LOLOCAUST.
+1 for Judge Judy.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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