Don't SELL !!

[nod]

Hi,
I'm sure you've noticed, the price of bitcoin is falling down, why ? Because a lot of sellers are scared and sell, then snowball effect !
Personally, I bought a lot of BTCs @ 29$ and I will not sell! I do not want to participate to the fall! If everyone do like me, fight to the end without selling, the price will increase, please, do like me !
Together, we can.

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[mistersaturn]

please sell! i bought a lot of btc today at 14$ - its great how easy it is to make profit due to 99% of the people in btc business being total idiots.

[digimag]

Seems like people have fun with bitcoins.

[Cluster2k]

The original poster smacks of desperation.  First post and has bought BTC at $29.

There are two things happening here: those with an interest to see BTCs head higher are going to do everything to talk up the 'currency'.  Those with a sense of schandenfreude are posting with glee about all the 'idiots' who bought into the whole BTC concept.

I posted a while ago that I was concerned about the rapid run up in value.  *Nothing* justifies it.  Not exponential difficulty curves, not wishful thinking about rarity.  BTCs are down almost 50% yet the hash rate has actually gone up and the next difficulty reset estimate is climbing by the hour.  If rarity justified the price of BTCs, we would see the price shoot back up in the next week or the hash rate fall.

[MatthewLM]

It's your own fault for buying in an unsustainable bubble. Maybe another bubble will help you out and the non-speculative supply and demand could help bring the price up over the longer term.

[tunatime]

i hope some one dumps a shit load of coins and lowers the price to under $10 i would buy up a few and then sell them when they come back up that's all that happening hear

[Vandroiy]

Seriously, why did you buy in a price bubble so obvious it's screaming?

You can't talk people into doing as you wish. Think for yourself and watch it unfold, it might rise or fall with near-equal probabilities at most times. No talk or organizing will change the path of the market easily.

[Hans0]

Hi,
I'm sure you've noticed, the price of bitcoin is falling down, why ? Because a lot of sellers are scared and sell, then snowball effect !
Personally, I bought a lot of BTCs @ 29$ and I will not sell! I do not want to participate to the fall! If everyone do like me, fight to the end without selling, the price will increase, please, do like me !
Together, we can.

I believe this is true. The hardest thing right now is not to get nervous, and just ignore short term. I really intend to hold for 5 to 10 years and I believe short term market movements are unpredictable.

[Jalum]

I really intend to hold for 5 to 10 years and I believe short term market movements are unpredictable.

You are the quintessential bagholder.  You are how others make money.  Everyone here with BTC should be thanking you.

[Hans0]

I really intend to hold for 5 to 10 years and I believe short term market movements are unpredictable.

You are the quintessential bagholder.  You are how others make money.  Everyone here with BTC should be thanking you.

I respect your right to have an opinion but it is a courtesy not to flame without adding value to the thread. The right to flame has to be earned.

[Jalum]

I respect your right to have an opinion but it is a courtesy not to flame without adding value to the thread. The right to flame has to be earned.

You're right, that was mean.  But my intent was to impress upon you that an obstinate decision to hold this "currency" for 5-10 years will only benefit others.  You can rest assured the OP is selling as fast as possible.

[Basiley]

sure.
before NY it hit $200 or even $400 level/course in exchange rate.

[kicir]

this correction was needed

if you truly believe in bitcoin's fundamentals you shouldn't be worried, there will be more spikes and falls in the future

[digimag]

Seems like it's heading to 10 $.

Bitcoin value in EUR is 13 € only on Bitmarket.eu (17 $ on mtGOX)… Crazy stuff.

[Hans0]

I respect your right to have an opinion but it is a courtesy not to flame without adding value to the thread. The right to flame has to be earned.

You're right, that was mean.  But my intent was to impress upon you that an obstinate decision to hold this "currency" for 5-10 years will only benefit others.  You can rest assured the OP is selling as fast as possible.

I understand the risk and fully expect total loss. In case I am right however I will get 10000x return which offsets the risk by far in my estimation.

[kiba]

It's your own fault for buying in an unsustainable bubble. Maybe another bubble will help you out and the non-speculative supply and demand could help bring the price up over the longer term.

You mentioned a bubble, you get the bitcoin bubble comic.

[Hans0]

It's your own fault for buying in an unsustainable bubble. Maybe another bubble will help you out and the non-speculative supply and demand could help bring the price up over the longer term.

You mentioned a bubble, you get the bitcoin bubble comic.

Be forgiving with them. Most people think by recognizing simple schemas like "bubble", "bear market", "fiat currency" etc. They do not infer new information easily so they often miss the big and full picture. I sometimes feel sorry for them. I guess you are just born that way, baby.

[Justsomeforumuser]

I like how we first had weeks of posts about how prices > 3$-5$ were not a bubble, then had a nuclear explosion of price(TOTALLY NOT A BUBBLE. +3000% in 8 weeks is normal, to-scale behavior!), then had people "out of the mainstream" hop on board when it was peaking, and then the bubble popped (-50% in 5 days is faster than even the mortgage crisis managed, well done...STILL NOT A BUBBLE..oh wait) and people are now showing the classic "bought the top, sweating blood" state.

When they sell their last BTC for an incredibly painfull loss somewhere between -50% and -90% (go for it OP, just imagine your cash value should we return to 1$-3$ permanently!), then we will have bottomed out.

I absolutely love how even the tiny BTC market 1:1 mirrors the "real world" markets in terms of herd behavior.
It's also incredible how you just cannot escape the whole human nature thing regardless of how little or small a market is..and how well this fits in with explaining why not everyone is a Soros/Buffet etc.

[digimag]

Anyway… I wouldn't recommend anyone to make any transaction just because the market is moving wildly and you become all emotional about it. You're more likely to make a bad move and regret it later.

[dserrano5]

I like how we first had weeks of posts about how prices > 3$-5$ were not a bubble, then had a nuclear explosion of price(TOTALLY NOT A BUBBLE. +3000% in 8 weeks is normal, to-scale behavior!), then had people "out of the mainstream" hop on board when it was peaking, and then the bubble popped (-50% in 5 days is faster than even the mortgage crisis managed, well done...STILL NOT A BUBBLE..oh wait) and people are now showing the classic "bought the top, sweating blood" state.

When they sell their last BTC for an incredibly painfull loss somewhere between -50% and -90% (go for it OP, just imagine your cash value should we return to 1$-3$ permanently!), then we will have bottomed out.

I absolutely love how even the tiny BTC market 1:1 mirrors the "real world" markets in terms of herd behavior.
It's also incredible how you just cannot escape the whole human nature thing regardless of how little or small a market is..and how well this fits in with explaining why not everyone is a Soros/Buffet etc.

+1 to this.

[Crazy]

Please, sell all your BTC. If you're attempting to day trade BTC right now, you probably deserve your loses. Like others have said, I'll be holding onto my BTC for years to come and I will be buying the dips. So please, panic more.

[Gameover]

bahaha i sold all mine at $29, what price should i buy now?  i missed the drop to $13, think it i will sink lower?

[Jack of Diamonds]

No, everyone should sell. Ignore the title of this thread. Sell everything right now while you still can.

This is not reverse psychology or bad advice. Sell. Get rid of your bitcoins. Bitcoin = bad. The feds are coming and there's no going back. It's about to finish within hours. The sooner you get out the better.

If you do not sell now you will regret it for the rest of your life. It will plummet into $1 and less by the end of this evening. Do something now before it's too late. Deposit all BTC you have right now to Mt. Gox and sell it off as fast as possible.

[Findeton]

No, everyone should sell. Ignore the title of this thread. Sell everything right now while you still can.

This is not reverse psychology or bad advice. Sell. Get rid of your bitcoins. Bitcoin = bad. The feds are coming and there's no going back. It's about to finish within hours. The sooner you get out the better.

You really need some cheap bitcoins don't you.

I'm going to buy so many cheap bitcoins!

[piuk]

Someone didn't listen.

[gres]

this is like the yahoo finance boards..

[Litt]

it's over 

[Hans0]

this is like the yahoo finance boards..

And this was surely not a complement

[Jack of Diamonds]

Made a mass buy at 14 again, lol.

[piuk]

lol @ the britcoin order book. £23,708 to sell £293 to buy

[Hans0]

Made a mass buy at 14 again, lol.

Was it big enough to see it on the chart? I noticed activity on http://mtgoxlive.com/orders just now.

[Jack of Diamonds]

Made a mass buy at 14 again, lol.

Was it big enough to see it on the chart? I noticed activity on http://mtgoxlive.com/orders just now.

Yes, in the 4 digits. I expect price to rise to 16 within 20 minutes, or more. Then it's sell time again.

edit- Yes.

[piuk]

Yes, in the 4 digits. I expect price to rise to 16 within 20 minutes, or more. Then it's sell time again.

Did you sell @ 16? Good call if you did.

[BCEmporium]

Now I can open my dream business:
Selling pizza; 10,000 BTC 

[Vladimir]

Do sell guys! SELL SELL SELL. Lower price will cause slower difficulty growth. This is ultimately good for me and most of my customers and those miners who convert fiat into bitcoin via mining. As opposed to those miners who sell most of mined bitcoins to operate and expand or as a fiat making enterprise.

[Jack of Diamonds]

Do sell guys! SELL SELL SELL. Lower price will cause slower difficulty growth. This is ultimately good for me and most of my customers and those miners who convert fiat into bitcoin via mining. As opposed to those miners who sell most of mined bitcoins to operate and expand.

Short term speculation is fun, though. Especially if you have some spare non-critical USD on Gox.
It's like watching plants grow and die in front of your eyes, super-motion.

Long term BTC value aside, yes it's a rollercoaster on a 24hr scale.

[datguywhowanders]

I have 23 coins to play with. I'm a little sad I didn't sell at 30 and snatch them back up at 14, but such is life. Even though I spend a ridiculous amount of time on these forums and the IRC channels, I don't want to be trading every hour as the price goes one way or the other.

I'd like to make some money out of this whole thing in the end. Give it a couple years, and what is money at that point? I think the US dollar is on the decline, and that any measure our government takes is just postponing the inevitable. Right now I have bitcoins, I'll sell if I need cash to work within the system. Right now, I don't have that problem, and so I'm perfectly content to sit and wait.

I still believe this thing is going to take off, and the short term ups and downs mean nothing. I came in when BTC was at $7. It's still twice that in only 3 weeks. I'll take it and be excited

[grod]

OP, you should sell your BTCs.   I can sense how much stress the current drop is causing you.  It's not worth it.  Take your loss, educate yourself a bit on charting, currency trading and daytrading and maybe try hunting again later when you are better armed.

This crash is both necessary and welcome.  It shakes out the weak hands, which is precisely what is needed for stability and further growth.  I feel a lot better about my bitcoin investment now, mid crash than I did seeing BTC go from $8 to $30 in what seemed like a week.

That said, seeing as massive capacity is being added to every pool and difficulty is going up eye-poppingly every 2100 blocks I'm not selling any of mine.  Unfortunately for you I'm not buying, since, well, "the trend is your friend" and "never catch a falling knife."

[Justsomeforumuser]

OP,
Take your loss, educate yourself a bit on charting, currency trading and daytrading and maybe try hunting again later when you are better armed.

How on earth would charting and ccy/daytrading have anything to do with BTC?

There are zero reliable "levels" in the BTC market, let alone proper margin accounts, instant execution, depth, etc..it doesn't even make sense to get started to pretend that BTC is in any way a "truly" tradeable market outside of hitting buy and sell on mtgox randomly.

[dserrano5]

OP,
Take your loss, educate yourself a bit on charting, currency trading and daytrading and maybe try hunting again later when you are better armed.

How on earth would charting and ccy/daytrading have anything to do with BTC?

There are zero reliable "levels" in the BTC market, let alone proper margin accounts, instant execution, depth, etc..it doesn't even make sense to get started to pretend that BTC is in any way a "truly" tradeable market outside of hitting buy and sell on mtgox randomly.

Charting is about the behaviour of a heterogeneous group of people. It applies to the BTC market.

[grod]

OP,
Take your loss, educate yourself a bit on charting, currency trading and daytrading and maybe try hunting again later when you are better armed.

How on earth would charting and ccy/daytrading have anything to do with BTC?

There are zero reliable "levels" in the BTC market, let alone proper margin accounts, instant execution, depth, etc..it doesn't even make sense to get started to pretend that BTC is in any way a "truly" tradeable market outside of hitting buy and sell on mtgox randomly.

You've just made my point.  Understanding the ramifications of lack of derivatives, liquidity but most importantly transparency and oversight is critical to understand the ramifications on BTC price fluctuations.

The crowd psychology part re: charting & day trading has already been addressed.