Holders Unite!

[Jozzaboy]

This is what Libertarians dream of. No central controls of price. Let Bitcoin die and something better and stronger take its place.

That's a good attitude.  Fortunately, Ripple is here to pick up the slack.     Flame away. 

Take your centralised digital, printable currency elsewhere. This is finite, decentralised territory.

[Nemesis]

I think the big sell off could be people's concerns with MT. Gox holding onto funds or suspending withdrawals for two weeks.  I guess tomorrow is the end of the 2 weeks they gave for holding funds so people are anxious.  If they do not keep their promise there might be fear that there is something more going on (fear of not enough funds at Mt. Gox).  Hopefully Mt. Gox follows through and the price goes up. We will see.

Right this is why you should stay in the kitchen.

MtGox ... does not have enough funds.... OMG let me sell all my coins to.... fiat.... Wait.... does that make any fcking sense?

[ronaldlee0917]

I hold bitcoins only because I have to trade the virtual securities, those securities are very prolific, much more than trading Bitcoins.

[Jozzaboy]

I think the big sell off could be people's concerns with MT. Gox holding onto funds or suspending withdrawals for two weeks.  I guess tomorrow is the end of the 2 weeks they gave for holding funds so people are anxious.  If they do not keep their promise there might be fear that there is something more going on (fear of not enough funds at Mt. Gox).  Hopefully Mt. Gox follows through and the price goes up. We will see.

Right this is why you should stay in the kitchen.

MtGox ... does not have enough funds.... OMG let me sell all my coins to.... fiat.... Wait.... does that make any fcking sense?

Gender jokes are so 2008. Go back to 4chan with the rest of the unwashed.

Otherwise, agreed. We should see a price bounce with Gox announcing they fucked up the bank thing.

[Wagner2014]

Mt. Gox at 72!

[Jozzaboy]

Indeed.

Panic will set in soon and this downtrend will be over.

Bear markets only last so long until it is no longer profitable to sell and coins are too cheap.

[tokeweed]

I am getting sick of seeing all of these threads of people panicking!  I have not even been into BTC that long, only a few months, and I can already see that this is just typical for the history of BTC.

What we know:  We are still very early in this.  BTC is volatile.  It goes up, it goes down, it goes up again and plateaus at a higher point.

So what is the big deal everyone?

I for one am holding.  I will turn off my computer this weekend (I am going out of town anyways) and hopefully return to some normal boring activity with BTC around $90 to $100 next week.

Call me crazy but holding could just be the smart move in all of this.

denial is gonna cost you a lot of money.

[wolverine.ks]

you aren't losing any money if you hold your bitcoins while the exchange rates falls, just like you don't gain any money when it rises. you are merely changing the potential to buy USD.

[tokeweed]

you aren't losing any money if you hold your bitcoins while the exchange rates falls, just like you don't gain any money when it rises. you are merely changing the potential to buy USD.

who says i won't go long when the trend goes up?

sell all your coins now, and buy back at lower prices and when the trend goes up = profit.

[wolverine.ks]

even then you are still only losing potential not money. you can't lose something you never had.

[johnyj]

I think OP are really smart to realize this, actually the bitcoin holders and miners are the central banks of bitcoin economy, if they never sell any coins, means no money supply increase, it will stop the sell pressure and increase the price stability. Of course if they have built some reserve that's even better, they could step in to buy coins to support the price and sell coins when it rises too fast

[btceic]

I couldn't resist... I bought 4 more today at ~$73.00

[fulepp]

I couldn't resist... I bought 4 more today at ~$73.00

and now it is 67.88

[btceic]

I couldn't resist... I bought 4 more today at ~$73.00

and now it is 67.88

Your point being that it is lower?

I sure as shit don't have a crystal ball and neither do you, what we are looking at is a buying opportunity.

If we see 50, 40, 30, 20 or 80 I will pick some up at those levels as well.

Don't own much stock or trade any forex do you?

[fulepp]

I couldn't resist... I bought 4 more today at ~$73.00

and now it is 67.88

Your point being that it is lower?

I sure as shit don't have a crystal ball and neither do you, what we are looking at is a buying opportunity.

If we see 50, 40, 30, 20 or 80 I will pick some up at those levels as well.

Don't own much stock or trade any forex do you?

some here and some there... (real stock and this virtual stock..) Usually i am holder but once a month read into the subjects and make my decisions. No crystal ball or other cheating...

[fulepp]

I couldn't resist... I bought 4 more today at ~$73.00

and now it is 67.88

Your point being that it is lower?

I sure as shit don't have a crystal ball and neither do you, what we are looking at is a buying opportunity.

If we see 50, 40, 30, 20 or 80 I will pick some up at those levels as well.

Don't own much stock or trade any forex do you?

some here and some there... (real stock and this virtual stock..) Usually i am holder but once a month read into the subjects and make my decisions. No crystal ball or other cheating...

But don't worry, I am sure long term that was a great purchase...

[BitChick]

Well,  seeing that the price dropped substantially and then bounced back slightly, it could have been smart to sell and buy back like many have done, or are doing.  Of course, how do we really know for a fact this will happen?  Also, I was out of town all weekend, with very little wireless service hiking in the mountains so I did not have much of a choice but to hold.

Still, for some of us it is the best choice, if we really do not wan the stress of the roller coaster ride.

Hopefully we are back to triple digits soon enough.  It seems like it is taking a while though.

[semaforo]

Well,  seeing that the price dropped substantially and then bounced back slightly, it could have been smart to sell and buy back like many have done, or are doing.  Of course, how do we really know for a fact this will happen?  Also, I was out of town all weekend, with very little wireless service hiking in the mountains so I did not have much of a choice but to hold.

Still, for some of us it is the best choice, if we really do not wan the stress of the roller coaster ride.

Hopefully we are back to triple digits soon enough.  It seems like it is taking a while though.

  Day traders compete against each other, and the gains made contribute to volatility and make the losers feel bad. It's basically like gambling on market sentiment. I prefer to make my money in win-wins where everybody walks out better off. Besides, there are a lot of sharks on the markets and I prefer not to swim with them.

    I study the global financial system and I think bitcoin is the most fascinating event I've seen, so I like watching it grow regardless... when I am making profit it makes it a little more fun, but it doesn't really matter that much. If the economy falls apart bitcoin may skyrocket. If the economy is strong, there will be other ways to make money. Just have patience...

   Somebody pointed that the bottom of the last devaluation was when there was a huge spike in sell off volume. I say save your cash and wait for this to happen again and then buy up as much as you can.

   

[Rampion]

Well,  seeing that the price dropped substantially and then bounced back slightly, it could have been smart to sell and buy back like many have done, or are doing.  Of course, how do we really know for a fact this will happen?  Also, I was out of town all weekend, with very little wireless service hiking in the mountains so I did not have much of a choice but to hold.

Still, for some of us it is the best choice, if we really do not wan the stress of the roller coaster ride.

Hopefully we are back to triple digits soon enough.  It seems like it is taking a while though.

We are in a downtrend, bubble deflation, so you should expect the price to go down.

[semaforo]

Well,  seeing that the price dropped substantially and then bounced back slightly, it could have been smart to sell and buy back like many have done, or are doing.  Of course, how do we really know for a fact this will happen?  Also, I was out of town all weekend, with very little wireless service hiking in the mountains so I did not have much of a choice but to hold.

Still, for some of us it is the best choice, if we really do not wan the stress of the roller coaster ride.

Hopefully we are back to triple digits soon enough.  It seems like it is taking a while though.

We are in a downtrend, bubble deflation, so you should expect the price to go down.

     I really don't feel that it is accurate to call this a bubble. A bubble is when an asset class is overvalued through greed. Bitcoin is not overvalued- if people understood and could calculate its true value, it is massively undervalued. This is a combination of profit taking and loss of investor confidence. If people understood either how overvalued the fiat they are trading their bitcoin for is or how undervalued bitcoin is there would be a massive correction. I have been watching the markets off and on for 15 years, have studied the global economic system in university, and travelled enough to have a faint inkling of the potential here, so when I heard about bitcoin for the first time I realized the efficiency gains resulting from bitcoin as a concept will eventually be measured in the trillions of dollars (todays inflation adjusted).
     I understand, not everyone has either my educational background or belief in the wealth creating potential of unimpeded capital flows- we all have our specializations, so I would say we are just seeing the curve of people understanding bitcoin and understanding that it will not be stopped. In 10 years where we are now will still look like the flat, bottom part of the "S" adoption curve on the chart, inshaAllah. This is not a bubble deflation, it is not even a bear trap, it's just a blip.
      Sorry, I've been mulling that one for a while, had to get it off my chest...