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Author Topic: When the Hot Deadly Lava from MtGox is Inches from Your Feet how Will YOU React?  (Read 3600 times)
Bit_Happy
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June 20, 2011, 05:14:12 AM
 #1

In ancient Pompeii many people were needlessly killed the day their fine city was flooded by the local volcano named Mt. Vesuvius.
Later today, many good people could lose a lot of money when our fine community is flooded  by the local volcano named Mt Gox.   Roll Eyes

Question: What really caused all those needless deaths in Pompeii?
Answer: People panicked.

The open gates of the city got blocked by a massive stampede of terrified people. The first dozen, or so, in front wanted to leave but their legs were pinned under 5 or 10 other people, who were about to die because they were also trapped under the people behind them.

Question: What can we learn from about all the needless deaths in Pompeii?
Answer: People shouldn't panic so much.

Will the price of BTC open lower?
Probably.

Is it really necessary for you to spend the next night and day nervously awaiting your chance to sell before everyone else?
The great wall of sellers used to be at $25, then a huge one formed at $20.
Do you really want the next great wall of sellers to be at $2.50 or even $1.34?

Solutions:
1) Don't panic
2) If you can afford to (with money from selling above $20, for example), then get ready to buy, not sell.

When the Hot Deadly Lava from MtGox is Inches from Your Feet how Will YOU React?

Another topic for discussion:
Why are people here so extreme? Do you think we really have a lot of "suckers" who used money they cannot afford to lose? The bi-polar nature of our community is amazing. Maybe some rich banker is just messing with us and laughing?

What do you think about any of these ideas?

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Vince Torres
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June 20, 2011, 05:22:33 AM
 #2

+1

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June 20, 2011, 05:23:59 AM
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Another topic for discussion:
Why are people here so extreme? Do you think we really have a lot of "suckers" who used money they cannot afford to lose? The bi-polar nature of our community is amazing. Maybe some rich banker is just messing with us and laughing?

People here is not that extreme. With the MtGox debacle a whole legion of trolls appeared in the forum creating amplifying the whole thing and creating the appearance of histeria. Beware of the trolls. Dont believe everything you read.
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June 20, 2011, 05:33:12 AM
 #4

+1

Thanks, I did spend some time on this.   Smiley


Another topic for discussion:
Why are people here so extreme? Do you think we really have a lot of "suckers" who used money they cannot afford to lose? The bi-polar nature of our community is amazing. Maybe some rich banker is just messing with us and laughing?

People here is not that extreme. With the MtGox debacle a whole legion of trolls appeared in the forum creating amplifying the whole thing and creating the appearance of histeria. Beware of the trolls. Dont believe everything you read.

Agreed, hugolp.
Is This Troll Invasion Part 2?


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June 20, 2011, 06:01:28 AM
 #5

alot of the extreme ppl left when they bought at 30 and sold at 10. alot of the ppl remaining are in it for the long haul bc they understand the system. sure the price will go down. but the people who have done their homework will be rewarded by low prices once again and things will start on their way back up. if the system is a pure as it seems to be, there is nothing to worry about. it is the best currency on the planet and ALOT of people know this.
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June 20, 2011, 06:15:48 AM
 #6

$17.5 is my guess.  Cool

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June 20, 2011, 06:17:53 AM
 #7

I sold most of mine, and plan to buy back when the price is down around $5 or so.  If it doesn't reach that, I'm fine with keeping my USD to pay off loans and continuing to accumulate more BTC through mining.
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June 20, 2011, 06:18:18 AM
 #8

++1

Buy When There's Blood In The Streets

http://www.google.de/search?q=Buy+When+There%27s+Blood+In+The+Streets&hl=de

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June 20, 2011, 06:23:00 AM
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Yes, Contrarian investors find value in the worst market conditions...   Smiley

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June 20, 2011, 06:34:36 AM
 #10

In ancient Pompeii many people were needlessly killed the day their fine city was flooded by the local volcano named Mt. Vesuvius.
Later today, many good people could lose a lot of money when our fine community is flooded  by the local volcano named Mt Gox.   Roll Eyes

Question: What really caused all those needless deaths in Pompeii?
Answer: People panicked.

The open gates of the city got blocked by a massive stampede of terrified people. The first dozen, or so, in front wanted to leave but their legs were pinned under 5 or 10 other people, who were about to die because they were also trapped under the people behind them.

Question: What can we learn from about all the needless deaths in Pompeii?
Answer: People shouldn't panic so much.

Will the price of BTC open lower?
Probably.

Is it really necessary for you to spend the next night and day nervously awaiting your chance to sell before everyone else?
The great wall of sellers used to be at $25, then a huge one formed at $20.
Do you really want the next great wall of sellers to be at $2.50 or even $1.34?

Solutions:
1) Don't panic
2) If you can afford to (with money from selling above $20, for example), then get ready to buy, not sell.

When the Hot Deadly Lava from MtGox is Inches from Your Feet how Will YOU React?

Another topic for discussion:
Why are people here so extreme? Do you think we really have a lot of "suckers" who used money they cannot afford to lose? The bi-polar nature of our community is amazing. Maybe some rich banker is just messing with us and laughing?

What do you think about any of these ideas?

I think I want to say thank you. Good post.
bitcola
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June 20, 2011, 07:01:03 AM
 #11

People are trolls because they are bears and not bulls?  Roll Eyes

As for your analogy, it might work for Pompeii but it does not apply to all situations.

For example, BICC. Those who queued up immediately to get their money out are the smart ones. Those who delayed suffered for it. Sometimes it is smart to act quickly and not necessarily "panicking".

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June 20, 2011, 07:03:29 AM
 #12

Why, yes, I will buy this piece of property with a lava pool in the back yard! Excellent analogy, good sir.

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June 20, 2011, 07:39:05 AM
 #13

Hot Lava?!?  



Duck, and Cover.


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Monero
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Bit_Happy
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March 07, 2013, 12:44:04 AM
 #14

Why are people selling when they should be buying?

crazy_rabbit
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March 07, 2013, 12:53:55 AM
 #15

Why are people selling when they should be buying?

why did you bring this thread back from the dead? Seriously.

more or less retired.
Melbustus
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March 07, 2013, 12:56:35 AM
 #16

Why are people selling when they should be buying?

Short-term thinkers.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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March 07, 2013, 01:13:12 AM
 #17

This type of thing is bound to happen when its current number one use is speculation and storing value. In the end, the market and bitcoin will stabilize and continue to evolve.

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March 07, 2013, 01:23:27 AM
 #18

I've been buying while we went down. Didn't seem to impact the price :/

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March 07, 2013, 01:23:49 AM
 #19

Why are people selling when they should be buying?

why did you bring this thread back from the dead? Seriously.

Just realized this thread is from '11

Looking to review Bitcoin / Crypto mining Hardware.
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March 07, 2013, 01:27:48 AM
 #20

Why are people selling when they should be buying?

why did you bring this thread back from the dead? Seriously.

It's called a history lesson.  There are many new users around with no hindsight.  You can't have good foresight without hindsight.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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