It's getting frothy, and I'm dumping 75% of my coins

[ajax3592]

For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.

Definitely. Get rich quick always draws the masses in.
Just like the Poker boom was set in motion by an average Joe winning a huge tournament, the Norwegian story did wonders for Bitcoin. We need more of those.

< I'm into Bitcoins since I read about that guy two weeks ago in a local newspaper 

[notthematrix]

lotta price increase without impressive volume / $ amounts

and BTW that previous sell from a few days ago was a test run, no true panic volume on the so called "panic day".

The real panic day is yet to come. Don't know when, but I don't want any part of it. These parabolic rises are never a good thing.

Guys there will be no panic day
because of the known number of btc in circulation.
People who know that will never sell bitcoins on dumps will just buy the cheap one's
 

[Cluster2k]

For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.

Definitely. Get rich quick always draws the masses in.
Just like the Poker boom was set in motion by an average Joe winning a huge tournament, the Norwegian story did wonders for Bitcoin. We need more of those.

We need a lot less of these stories.  Anything with a return in the thousands of percent per year sounds like a scam.  If it's too good to true... and all that.  People need to use bitcoin because it's useful and fills a niche in the financial system.  I would rather not have them enter the system because they think they'll be millionaires in a couple of years time for pocket change today.

[Odrec]

For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.

Definitely. Get rich quick always draws the masses in.
Just like the Poker boom was set in motion by an average Joe winning a huge tournament, the Norwegian story did wonders for Bitcoin. We need more of those.

We need a lot less of these stories.  Anything with a return in the thousands of percent per year sounds like a scam.  If it's too good to true... and all that.  People need to use bitcoin because it's useful and fills a niche in the financial system.  I would rather not have them enter the system because they think they'll be millionaires in a couple of years time for pocket change today.

Well for me it worked, I got curious about bitcoin because of that story but then as I informed myself the idea behind bitcoin and the consequences of its wide adoption made me even more interested than just the getting rich possibility. Now I genuinely want to contribute for this thing to succeed. I think stories like those could lure many type of people and that's kind of good IMO.

[600watt]

in terms of btc a 10fold difference is nothing. just another year.

currently i need another 4fold and i will retire 

[notme]

lotta price increase without impressive volume / $ amounts

and BTW that previous sell from a few days ago was a test run, no true panic volume on the so called "panic day".

The real panic day is yet to come. Don't know when, but I don't want any part of it. These parabolic rises are never a good thing.

Guys there will be no panic day
because of the known number of btc in circulation.
People who know that will never sell bitcoins on dumps will just buy the cheap one's
 

There is always panic when the trains leaves the station without you .

[Wilhelm]

in terms of btc a 10fold difference is nothing. just another year.

currently i need another 4fold and i will retire 

I entered late so three years for me

[BitchicksHusband]

in terms of btc a 10fold difference is nothing. just another year.

currently i need another 4fold and i will retire 

I need 15x more to retire, but "I'm an idiot that should sell all my coins immediately because it's a bubble."

[fleabag]

lotta price increase without impressive volume / $ amounts

and BTW that previous sell from a few days ago was a test run, no true panic volume on the so called "panic day".

The real panic day is yet to come. Don't know when, but I don't want any part of it. These parabolic rises are never a good thing.

So did you dump them?

[jasonjm]

yeah I sold approx 300 coins between 320 and 380

I have 100 coins left

I will dump all at $1000 if that happens within a few weeks

you guys do all realize that only around 5% of us can take profit on bitcoin? any more than that and the price will literally go to $10 or so

on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.

that was enough to drop BTC price almost 50% on some exchanges

now..... imagine 5% of people or 600 000 coins are sold within 48 hours.

it would literally devastate bitcoin prices.

So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.

[DeathAndTaxes]

Why would you dump now though? The crashes do not begin when bitcoin is stable, the begin when it is rallying and making a huge increase for the day.

Only on bitcointalk is a 173% gain in 30 days considered "stable".

Note: I am not saying buy, sell, or hold just pointing out the unintentional humor in that statement.

"Can you believe it, the DOW doubled last month?  I know I haven't seen stability like that in years".

[bassclef]

yeah I sold approx 300 coins between 320 and 380

I have 100 coins left

I will dump all at $1000 if that happens within a few weeks

you guys do all realize that only around 5% of us can take profit on bitcoin? any more than that and the price will literally go to $10 or so

on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.

that was enough to drop BTC price almost 50% on some exchanges

now..... imagine 5% of people or 600 000 coins are sold within 48 hours.

it would literally devastate bitcoin prices.

So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.

I personally think this is a myopic view, but feel free to sell your coins to stronger hands.

[jasonjm]

Why would you dump now though? The crashes do not begin when bitcoin is stable, the begin when it is rallying and making a huge increase for the day.

Only on bitcointalk is a 173% gain in 30 days considered "stable".

Note: I am not saying buy, sell, or hold just pointing out the unintentional humor in that statement.

"Can you believe it, the DOW doubled last month?  I know I haven't seen stability like that in years".

Yeah the greed is off the charts.

[antimattercrusader]

Hold (years) FTW

[jasonjm]

yeah I sold approx 300 coins between 320 and 380

I have 100 coins left

I will dump all at $1000 if that happens within a few weeks

you guys do all realize that only around 5% of us can take profit on bitcoin? any more than that and the price will literally go to $10 or so

on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.

that was enough to drop BTC price almost 50% on some exchanges

now..... imagine 5% of people or 600 000 coins are sold within 48 hours.

it would literally devastate bitcoin prices.

So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.

I personally think this is a myopic view, but feel free to sell your coins to stronger hands.

If you have been trading for a long time,  you would realize there is no such thing as a strong or weak hand.  That saying is worthless.  There are only profitable and unprofitable hands.

[jasonjm]

You guys literally don't get it.  Only 5 percent can take profit.  95 percent have to get burnt.

[BitPirate]

lotta price increase without impressive volume / $ amounts

and BTW that previous sell from a few days ago was a test run, no true panic volume on the so called "panic day".

The real panic day is yet to come. Don't know when, but I don't want any part of it. These parabolic rises are never a good thing.

Guys there will be no panic day
because of the known number of btc in circulation.
People who know that will never sell bitcoins on dumps will just buy the cheap one's
 

Sure there will be a crash. But it doesn't matter, as it will rise again. But don't think there won't be one -- it will be more sickening than you expect.

[derpinheimer]

You guys literally don't get it.  Only 5 percent can take profit.  95 percent have to get burnt.

No. People can cash out as the price rises. As long as there is money inflow everyone can profit. Since bitcoin is a currency/store of value, even those at the end are not "doomed to be holding the bags", like in a typical pyramid scheme.

People earlier this year PROFITED at $30. They never have to come back and buy "at a loss".

People are profiting every day at $380.

[notme]

You guys literally don't get it.  Only 5 percent can take profit.  95 percent have to get burnt.

You literally don't get it.  Bitcoin doesn't have to go to zero until something better comes along.  Then it will be those who don't accept progress who once again are left with the rubble of the old ways.

[antimattercrusader]

Only one thing to do now.

PANIC