Preparing for the BIG FEAST!

[Kakmakr]

I just sold a few coins to enable me to be ready to buy a bunch of coins when the NEWBIE panic kicks in. I always have some spare fiat available for situations like this, but I think this will be the BIG FEAST. We have a pressure cooker building here with all the confusion over the uncertainty surrounding the scaling after the 1st of Aug 2017. A lot of NEWBIES and SPECULATORS are just watching the price and have no idea what is happening with the technology and this results in a Panic Sell going on. ^smile^

I am now 100% ready to buy CHEAP coins, when it starts to rain. Now it is all about timing, to see if I can maximize my profits from this event. ^lol^

Bring it on! and Show me the Money!

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[jusplayin]

i'm one of those newbies
but does it make sense then to sell all XBT and buy again when it is at its lowest (from my point of view)?

[kwukduck]

Feast?
You call the destruction of a revolutionary network and its ecosystem a feast?
You realize recovery is extremely unlikely with the complete chaos that is coming.... maybe a small bounce but after that its finished, just as i predicted so long ago.

[wizmo]

If you're in profit then you should sell it otherwise don't panic sell you'll regret it later. There is general rule of the market that buy low sell high if you follow it then you might get some profit. It doesn't matter you're newbie or expert start learning and you will understand the whole concept of the market.

[Wind_FURY]

Feast?
You call the destruction of a revolutionary network and its ecosystem a feast?
You realize recovery is extremely unlikely with the complete chaos that is coming.... maybe a small bounce but after that its finished, just as i predicted so long ago.

Here is kwukduck again. This is a signal to get ready and buy. He will start spreading FUD again and encourage us to sell every coin we have "because Bitcoin is dead" as long as the price is falling.

[UFCkid]

i'm one of those newbies
but does it make sense then to sell all XBT and buy again when it is at its lowest (from my point of view)?

How will you know when it is at its lowest?

[maokoto]

Market will recover, and scaling solutions will work. It is just that we cannot start from high so it skyrockets too much. Some panic is in place before because not everybody has the same faith in success I think.

[BCTBF]

I'm sure panic is happening everywhere, and we can see that on 25th of May the bitcoin price peaked at $2400 and then dropped to $2000 on the 28th, and then skyrocketed again. Now the price keeps falling but I'm sure this decline will not be lower than $2000 and then surely skyrocket again before 1st August. Who knows? Because bitcoin prices are hard to guess and only predictions and beliefs make me always optimistic.

[Kakmakr]

Feast?
You call the destruction of a revolutionary network and its ecosystem a feast?
You realize recovery is extremely unlikely with the complete chaos that is coming.... maybe a small bounce but after that its finished, just as i predicted so long ago.

Man, am I glad to see you here. We need more people like you to scare the NEWBIES. ^smile^ When the shills jump out of the woodwork and use words like "destruction"  and "chaos", then you know this feast is going to be BIG! The more panic these guys are spreading the more these NEWBIES start to sell and the cheaper my coins will be. ^LoL^

Go for your badge kwukduck! You are filling my pockets with cheap coins. ^LoL^

[1Referee]

I think you're exaggerating the situation. Yes, this drop enables people to buy back their coins at lower rates, but it's not like the price has gone down massively, or will go down massively. In order to let the panic really kick in, we have to break through various support levels, and then still it's not sure that we will tank below the $2000 level. We're down like 10% since yesterday, and in current circumstances, that's peanuts.

[pooya87]

this is one of the bigger fears in the market this year because there is really a possibility for a fork and then a split on the way unlike the previous times which were just pure FUD.  selling was a good idea but like always you had to act fast to sell while price was high, the more it goes down the riskier it gets to sell because it is closer to the bottom where you should buy not sell!

this means any sell above $2430 was a good choice.

[UFCkid]

I think you're exaggerating the situation. Yes, this drop enables people to buy back their coins at lower rates, but it's not like the price has gone down massively, or will go down massively. In order to let the panic really kick in, we have to break through various support levels, and then still it's not sure that we will tank below the $2000 level. We're down like 10% since yesterday, and in current circumstances, that's peanuts.

Remember, the apparent use of bitcoin is as a store of value. The case of it being a currency has long gone.
Not much of a store of value if it drops 10% in 1 day. Thats HUGE - definitely not peanuts.

[MiladMax]

You sold in a dip, sorry mate.

[pooya87]

You sold in a dip, sorry mate.

how would you know?
for all you know OP may have sold his coins above $2800 off the market to someone who was thirsty for getting in and had no other way of doing so.

he may even be from India in which case the price is super high there and it doesn't matter where you sell it is not a dip!

[carlfebz2]

Sell on negative then for sure you will regret later on when price rebounds up again.If you do see almost alts you would really see bloody field and for those newbies and investors that don't have too much knowledge will surely panic out and made even more the price lower. August 1 fud do really somehow affect but I cant see a thing why they should dump. Be wise guys on trading because on this way you will make money if you are smart.

[NeuroticFish]

Feast?
You call the destruction of a revolutionary network and its ecosystem a feast?
You realize recovery is extremely unlikely with the complete chaos that is coming.... maybe a small bounce but after that its finished, just as i predicted so long ago.

Man, am I glad to see you here. We need more people like you to scare the NEWBIES. ^smile^ When the shills jump out of the woodwork and use words like "destruction"  and "chaos", then you know this feast is going to be BIG! The more panic these guys are spreading the more these NEWBIES start to sell and the cheaper my coins will be. ^LoL^

Go for your badge kwukduck! You are filling my pockets with cheap coins. ^LoL^

With so many bad news kwukduck will be right eventually. One day.
I expect that day to happen when nobody, but really nobody will care what he says.
I have high hopes that today is not that day.

I expect Bitcoin have great days after August 1st and there will be no "destruction of a revolutionary network and its ecosystem", au contraire, a great leap forward.
And this correction, however sad it is, it was bound to happen. Though I was somewhat surprised about its timing...

[Denker]

I think you're exaggerating the situation. Yes, this drop enables people to buy back their coins at lower rates, but it's not like the price has gone down massively, or will go down massively. In order to let the panic really kick in, we have to break through various support levels, and then still it's not sure that we will tank below the $2000 level. We're down like 10% since yesterday, and in current circumstances, that's peanuts.

Remember, the apparent use of bitcoin is as a store of value. The case of it being a currency has long gone.
Not much of a store of value if it drops 10% in 1 day. Thats HUGE - definitely not peanuts.

The use as currency can not happen first! It will happen much much later. Right now it's the store of value what attracts Bitcoin. To function as a currency we need way less volatality, therefore a much higher market cap, further technological implementations and much more adoption. This will take many more years!So actual status quo is fine.

Regarding the opening post. I don't know, we may go down to $2000. With lots of pressure and brutality maybe below that for a short moment. The buying pressure at this level will be huge imo. So if you guys have some money left and speculate for cheap prices, place orders at those levels -> 2k, 1.9k, 1.8k! With lots of luck they may get filled!

[deisik]

Feast?
You call the destruction of a revolutionary network and its ecosystem a feast?
You realize recovery is extremely unlikely with the complete chaos that is coming.... maybe a small bounce but after that its finished, just as i predicted so long ago.

Here he is kwukduck again. This is a signal to get ready and buy. He will start spreading FUD again and encourage us to sell every coin we have "because Bitcoin is dead" as long as the price is falling.

I guess you should be the last to say that

A little over a year ago (or was it in fact less than a year ago?) you were preaching yourself that Bitcoin price would never rise over 600 dollars per coin (well, not until the end of 2016). Now you seem to have changed your stance? If you have, it may turn out that you shouldn't. I'm not very familiar with this dude's prophecies (though I think I can safely guess what he had been professing), but this time he might prove right after all. Bitcoin has never been so shaky as it is now (not even after the Mt. Gox catastrophe)

[1Referee]

Not much of a store of value if it drops 10% in 1 day. Thats HUGE - definitely not peanuts.

I think you have to look at things from a different perspective - short term fluctuations don't harm anyone's long term store of value plan. Point is that as long as the value of your coins is going up over a longer period of time, that the fluctuations we experience every now and then won't impact the value of your holdings at all. Important factor is that a store of value is meant to hold its value over a longer period of time, and that's exactly what Bitcoin has been doing throughout the years. In addition, it gave most people a thick fat bonus on top of that.

[deisik]

Not much of a store of value if it drops 10% in 1 day. Thats HUGE - definitely not peanuts.

I think you have to look at things from a different perspective - short term fluctuations don't harm anyone's long term store of value plan. Point is that as long as the value of your coins is going up over a longer period of time, that the fluctuations we experience every now and then won't impact the value of your holdings at all. Important factor is that a store of value is meant to hold its value over a longer period of time, and that's exactly what Bitcoin has been doing throughout the years. In addition, it gave most people a thick fat bonus on top of that.

There can be different approaches

Personally, I'm more inclined to consider as a store of value not something which is going to hold its value over longer periods of time (though I don't deny the viability and plausibility of this approach) but rather something which is resistant to factors contributing to the loss of value during times of economic meltdown and chaos. For example, gold is slowly losing its value over time (I mean time when the economy booms or just moves ahead) but it is likely the only monetary asset out there which will preserve its value during severe crises or even wars. In this way, Bitcoin can hardly be thought of as a store of value. In fact, no speculative asset can be rightfully considered that even if they show consistent profits over longer periods