Well, now enjoy the bull market.
Thanks I am. It's awesome to see this crazy coin take off
You do realize we follow a log trend, even if we are still below it now? Don't underestimate resilience.
I still don't feel like basing any decisions on the log trend. When looking back in history I tend to only consider the time after Gox. I may be wrong in doing so, but like you said we are not currently following that trend and I think it will take something like a new Silkroad, new markets or mass adoption to get us close.
Gox was THE exchange. Now there are dozens of exchanges so if one fails, even Bitstamp or BTC-E which are both untrustworthy in my book, as we have already experienced a major exchange's failure and recovered from that, maybe noobs won't be so afraid when early adopters will tell them "yeah routine, +1000% this year too.". Same goes with government shit. PBOC made unbelievable efforts to make Bitcoin look bad and still here we are.
Don't take a big fall for granted if any bad news, that is what happens in bear markets, not necessarily in bubble times when the momentum is here.
I agree with you about the bad news and market direction and most other things you say here... but imagine a major exchange getting closed
. Such opportunity
It would be great if we didn't have to rely so much on the exchanges. At least there are more of them now and new ideas about exchanges are on the table. When I started trading I actually tried to sign up for Stamp, but they claimed they never got my passport and proof of residence (even though I had uploaded them without any issues) so I went in another direction. It was right around the time where the problems at Gox were becoming more obvious, so I was lucky not to fall into that trap (also thanks to BitcoinTalk and critical articles).
I am not saying you should never sell, i did sell the day of the announce of the malleability of the transactions with the goal of buying back later and did pick the bottom. But don't overestimate yourself, we might just have been both lucky on picking the bottom once. Besides, i DO believe your default choice should be to hold bitcoins, not fiat, especially on these times when we had rallies, are under the long term logtrend, and that you can see many noobs on reddit saying they are coming. Even dogecoiners are finally realizing that Bitcoin is way more valuable and are selling their doge to get bitcoins, as you can see on the DOGE/BTC chart. Yes, even them finallly understand the value of Bitcoin. They needed 6 months to understand why it is better than dogecoin, some people are slow learners.
Yes picking a bottom like that is lucky and I kick myself for not holding better. I need to train that more, but it is also fun to predict the market. Since we have now had this bull market for a while I can finally safely experiment with some of my stash without risking loss.
Anyway good luck with your trading.
Thanks
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