I am fucking panicking

[Remember remember the 5th of November]

Considering the downtrend, I also think about selling.

[1714874927]

1714874927

[1714874927]

1714874927

[mgio]

Why panic, hedge your BTC wit LTC

Worst hedge ever. If bitcoins dies, litecoin will die too.

[auto2nr1]

Selling might be a good idea until this downtrend stabilizes. It seems like every week the price is dropping so until this trend is reversed i would cash out and buy back at a lower price.

[DeathAndTaxes]

Why panic, hedge your BTC wit LTC

Worst hedge ever. If bitcoins dies, litecoin will die too.

I liken it to keeping gasoline soaked cash in your house as a hedge against the financial loss if your house catches fire.

[Spaceman_Spiff]

Why panic, hedge your BTC wit LTC

Worst hedge ever. If bitcoins dies, litecoin will die too.

I liken it to keeping gasoline soaked cash in your house as a hedge against the financial loss if your house catches fire.

+1

[bitcryptonit]

Considering the downtrend, I also think about selling.

good idea, i did it too around 3rd may when the price reversed and i lost 20 bitcoins when i had to re buy for higher price.

[vokain]

Considering the downtrend, I also think about selling.

good idea, i did it too around 3rd may when the price reversed and i lost 20 bitcoins when i had to re buy for higher price.

classic panic reneging. If you really believed it was going to go down, you should've held your dollars :0

don't worry, i did the same thing right after the Pirate@40 collapse. Went from 15 -> 9, bounced to $11, panic sold, panic bought back in at $13,  and then to the stars :p

It was then I learned conviction.

[Frizz23]

I am seriously considering getting out of this game. Give some strength bros!

EDIT: I sold some of my Bitcoins but I will still hold fairly good amount of BTC for the longest time.

Name:                Gordonium
Date Registered:  March 30, 2013, 04:51:14 PM
Motto:               Greed is Good

Wow, you must be some cool Wall Street dude ... or some 14 year old that found out to late about the newest Ponzi scheme ... 

[Gordonium]

[...]

Buy low, sell high, why is that so complicated?  Emotion is a mutha fucker and will destroy your profits, don't be driven by it.  Focus on the tangible not your feelings.

Yeah because it is always wise to grap the falling knife... (I don't believe that Bitcoin is falling knife, just speaking in general.)

That's not what "buy low, sell high" means. In fact, the two are incompatible. If done right, buy low is precisely not catching a falling knife, but picking it up from the floor.

Well, it's all just metaphors anyway.

What I really don't get is the "I'll hold, no matter what" stance a lot of people seem to take. Ultimately, it probably runs down to the difference between investors and speculators. The former believe in the product itself, and would somehow consider it treason to sell their entire position, the latter are agnostic about the product itself, and just try to make a profit.

I strongly suggest to break down this distinction in your mind.

Even if you believe in a bright future for bitcoin, i.e. you have reasons to be an "investor", there is absolutely nothing wrong with going short now, to buy back cheaper later. It's not without risk, but if you keep in mind not to be too greedy and wait too long to buy back, you'll be fine. Because, be honest with yourself: does it really look like the price is going to skyrocket tomorrow? Probably not.

Sell now. Buy back later. You'll sleep better, and your total amount of btc will be higher in addition.

When you cut citations like that you make me sound like a retarded. You mothafuckaa!

[Gordonium]

I am seriously considering getting out of this game. Give some strength bros!

EDIT: I sold some of my Bitcoins but I will still hold fairly good amount of BTC for the longest time.

Name:                Gordonium
Date Registered:  March 30, 2013, 04:51:14 PM
Motto:               Greed is Good

Wow, you must be some cool Wall Street dude ... or some 14 year old that found out to late about the newest Ponzi scheme ... 

Says man with blue d-bag as an avatar (literally).

[503guy]

Here's what I did:

Oct 2012: Bought 100 BTC @ ~$12 ($1200)

April 2013: Kicked self for not selling any at $200 - decided I'm in for the long run

Two days ago: Sold 30 @ $93 ($2700)

I doubled my money and now I'm holding my remaining 70 BTC until the end of time, because I don't have any risk at this point.  You may want to sell enough to get your initial money back -- it really made me feel a lot better

[Frizz23]

Says man with blue d-bag as an avatar (literally).

Speaking of avatars: Michael Douglas? Seriously? Are you gay?

[smoothie]

I am seriously considering getting out of this game. Give some strength bros!

EDIT: I sold some of my Bitcoins but I will still hold fairly good amount of BTC for the longest time.

If you are asking this, it is my opinion that you are in bitcoin for the wrong reasons.

Do you have capital that you can't afford to lose? If so, get out while you can.

I have never invested more than I could afford to lose.

[zarl]

just sell, and buy them back after 6 month. (sub10$)
And you will be RICHer later on

[mgio]

just sell, and buy them back after 6 month. (sub10$)
And you will be RICHer later on

Don't do this. If Bitcoin goes to under $10 it is dead and
is never coming back.

People seem to think price is some arbitrary number that goes up and down. It isn't. It is an indicator that follows bitcoin's popularity and the faith people have it in.
If bitcoin goes to 10 it means everyone will have given up on it. And nothing is going to bring them back.

[Gordonium]

Says man with blue d-bag as an avatar (literally).

Speaking of avatars: Michael Douglas? Seriously? Are you gay?

No. I am just a fucking winner!

[Spaceman_Spiff]

just sell, and buy them back after 6 month. (sub10$)
And you will be RICHer later on

Don't do this. If Bitcoin goes to under $10 it is dead and
is never coming back.

People seem to think price is some arbitrary number that goes up and down. It isn't. It is an indicator that follows bitcoin's popularity and the faith people have it in.
If bitcoin goes to 10 it means everyone will have given up on it. And nothing is going to bring them back.

Just like it went dead from $32 to $2 ?

[BitcoinAshley]

Y'all are making this too complicated. Just buy low, sell high. It really is that simple.

If price is HIGH (you are feeling "OMG I just made SO MUCH money on bitcoinz!") it might be time to sell. If price is low (hopefully you are thinking "Wow, those idiots just lost tons of money, and I didn't, because I sold high) then buy.

Also, litecoin may not be great for hedging, but it's great for making money. Oh yeah, and in some respects, consider it a hedge - a hedge against, for instance, the disastrous ruin that a coin taint system would bring upon bitcoin for a short time after being implemented. Even the threat of BTC becoming unusable, crashing, and people moving to alt-coins hopefully deters a lot of the socialist weenies like Peter Vessenes who are thinking of implementing such a program. The fact that alt-coins are ready, up and running, on exchanges, and have value, shows socialist weenies that if they try to sabotage bitcoin, there are a dozen other coins that are more than willing to step up and absorb some of the value, and provide much of the "money laundering" functionality that they are so scared of. In the same way that shutting down one bitcoin-qt node won't shut down the whole network or shutting down Piratebay won't kill torrents, or jailing the top dogs in a cartel every couple years won't "win the war on drugs," shutting down BTC won't shut down cryptocurrencies - will just make a huge, painful dent but dents can be hammered out in due time. If LTC and altcoin-haters had their way and no altcoins existed, it might be a different story.

If BTC forks and there is a 20% drop, well, there may only be a 5% drop in LTC. I'm not comparing to Fiat - obviously fiat would drop 0%. But there's a reason most of us aren't 100% in fiat.

[Frizz23]

You may want to sell enough to get your initial money back -- it really made me feel a lot better

I am pretty sure Gordonium bought his first Bitcoins shortly after he registered on Bitcointalk. So in April 2013. Probably at 250$.

Explains his butthurt

[Gordonium]

You may want to sell enough to get your initial money back -- it really made me feel a lot better

I am pretty sure Gordonium bought his first Bitcoins shortly after he registered on Bitcointalk. So in April 2013. Probably at 250$.

Explains his butthurt

I bought my first Bitcoins at 10-15 dollars.