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Author Topic: If Bitcoins dropped to $9.50, would you sell everything?  (Read 2679 times)
imperi
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July 09, 2011, 05:30:37 AM
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Some people here believe the true value of Bitcoins is under $5, and if the inflationary wall at $10 could be breached then it would plummet further. Basically would you sell everything to save what little value you have left?
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Chick
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July 09, 2011, 05:35:08 AM
 #2

Anything lower than 10, I buy buy buy...

imperi
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July 09, 2011, 05:36:58 AM
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Anything lower than 10, I buy buy buy...

But to confirm people's theories that Bitcoins should be in the lower single digits, this requires people to massively sell even more once it goes lower.
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July 09, 2011, 05:46:47 AM
 #4

the only people who will sell everything are those that are only in bitcoin to speculate... okay maybe that's 99%
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July 09, 2011, 05:51:54 AM
 #5

I'm a buyer, going down and/or going up.

You gotta pay to play. Right now I am still in test mode using small amounts.

I fully expect to learn this market and put it to full use.

IMHO all predictions of future prices are pure hogwash.

Noboody knows.

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July 09, 2011, 05:52:03 AM
 #6

No, no, and no!  Grin

Doesn't matter how low bitcoin will get. I will never sell.

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July 09, 2011, 06:00:30 AM
 #7

What do you mean?  I already sold everything.  I am just waiting to buy!
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July 09, 2011, 06:07:07 AM
 #8

Wouldnt it be more inteligent to sell when its higher?
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July 09, 2011, 06:19:53 AM
 #9

No, I would buy.
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July 09, 2011, 06:20:55 AM
 #10

Wouldnt it be more inteligent to sell when its higher?

Speculation is not intelligence. Yes it may have been smarter to sell higher IF the market goes back up, and yet would be equally as smart to sell now IF the market goes down. With the current downward trend and the weekend ahead he very well may be making an "intelligent" decision.
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July 09, 2011, 06:33:54 AM
 #11

Some people here believe the true value of Bitcoins is under $5, and if the inflationary wall at $10 could be breached then it would plummet further. Basically would you sell everything to save what little value you have left?

Anyone who believed that shouldn't really be holding BTC. Anyone who REALLY believed that wouldn't be in the market right now at all.

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July 09, 2011, 06:39:11 AM
 #12

And some that are passionate about it still piss and moan.. to get a better price on your bitcoins.  ;-)

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July 09, 2011, 07:09:57 AM
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A stupid question.. 

It assumes you are buying/owning Bitcoins purely because you hope to make a lot of [fiat$] buy selling them for more later, and if that hope dims a bit, you will abandon ship and run away.   You are encouraging those who think it is a pyramid scheme to have reason to do so..

You dont really care about the Bitcoin concept, or the idea of your money being free of external influence, its purely an opportunity for you to make money in the *current* controlled financial system ?

If that is the case, I hope they DO drop to whatever level is needed to scare the weak kneed dollar profiteers off, and cause them to runaway now, so that Bitcoin has a better chance of success later..   

If its value goes up, I wont complain because to me that *indicates* greater adoption and awareness - although it *could* just be due to a big player jumping in and buying all the coins they can get their hands on - which means they could easily jump out again as quick..   

I want it to slowly and steadily increase over time as awareness and use grows so the world can eventually be freed from manipulation of the resources of the many to the benefit of a few..

The $ value of a bitcoin on any particular day is of little concern to me, the only thing that would cause me to abandon ship is if there was a clearly *better* system gaining traction that would replace Bitcoins with something even more free of control.

Ideally I would like to see it drop to under $5 for a few months, then begin to slowly and steadily grow again.. that should scare off the profiteers
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July 09, 2011, 07:23:22 AM
 #14

nope.

two rules:  never sell at a loss and never gamble what you cant lose.

i wont sell at anything less than 10% profit after fees.  at which point, everything (profit included) gets re invested at a lower price, restarting the cycle. 

i havent panic sold yet, and i refuse to.....






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July 09, 2011, 09:18:51 AM
 #15

Dropping under $10 means buy pretty blindly.  Unfortunately there is no true way to do that with this technology, too many unknowns, however, that $9.50 hits a very magical sweet spot.

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July 09, 2011, 10:03:05 AM
 #16

If I was miner/speculator I would sold all my coins by now, simply based on my own thinking that we had  witnessed first boom cycle from April's $1 to $33 top. Each boom/bubble is followed by a bust before we can start a new real trend. New trend will start based on more use of bitcoins or big influx of/and new buyers/speculators. What I see here is pure hype and impatience by majority of active posters on this forum. Majority thinks everything has to happen with lightning speed which is just simply wrong. Bitcoin needs its time to mature and system to grow naturally. Right now what happened in June was nothing close to natural.

Bitcoin word got out to the masses due to blogs, silkroad, youtube, forums or whatever media people used to spread their word. When price started to move from April $1, everyone was buying GPUs left and right for whatever price as long as they could get them. This resulted in the huge pop in network hashing power. At the same time, basically small group of 10k people, who aren't technical savvy or don't have time to run rigs 24/7, they jumped into bitcoins head first because price just kept on moving up and up. Bubble popped at $33 and here we are at $15. Nothing has changed and bubble is still deflating. All this drops to $12 and then runs back to $16 are also important  and needed so bitcoins exchange hands and there are more and more spread out.

Difficulty jumped huge in June a s result of everyone buying all those extra GPUs because the price ran up to $30s. Now the rate is somewhat slowing down but it won't stop or even reverse like some are saying/hoping. If some miners will quit its just temporary effect because we went from 100k difficulty to 1.3mill in a matter of few weeks and some people were dreaming they will get rich quick just by running mining rigs. When everything settles down in a while I would expect a natural growth of the network between 2% to 8% every 2 weeks all the way until we hit 10.5mill coins where I think we will switch to 25 BTC per block. From that moment forward growth will slow down even more. If bitcoins are here to stay for at least a few years before we get a better bitcoin II version, network will grow to 1000 Th from current 10 Th and difficulty will be in the 10s of millions. Mining as we know it now, using GPUs won't be profitable any more, same as CPU mining isn't profitable now.

Longer it takes for this bubble to deflate, bigger long term chance bitcoin has as a project. If we would crash in the short term, next 3 to 6 months, price would probably drop to $1 to $5 range. If it will take a year to deflate, we could see $5 to $10 range and if it would take even longer than that, we could expect the bottom to be $10 to $15 area. Longer it takes for bubble to deflate, more volume it trades and more spread out it would get.

Higher number of bitcoin owners/users, greater its potential value.

Right now majority is focusing way to much on day to day price movement and overall hashrate of the network.
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July 09, 2011, 10:16:19 AM
 #17

Why sell that low? That'd be stupid. You can sell it for more now.

When it goes <$10 would be a good time to buy.

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July 09, 2011, 11:16:16 AM
 #18

Yes... I will sell all my belongings to buy more..

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July 09, 2011, 11:23:47 AM
 #19

Although this is probably not possible, let alone probable, I'd like the dollar to not be related to BTC at all.

If merchants and customers adopt it, its successful, regardless of its dollar exchange.
If a merchant can buy his products from a distributor in BTC.. you do the math.

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July 09, 2011, 02:28:35 PM
 #20

Some people here believe the true value of Bitcoins is under $5, and if the inflationary wall at $10 could be breached then it would plummet further. Basically would you sell everything to save what little value you have left?
And how would you determine the 'true value'?

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