JimboToronto
Legendary
 Offline
Activity: 3990
Merit: 4434
You're never too old to think young.
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November 24, 2013, 04:55:51 PM |
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i'm just a filthy, dirty, hoarde.
I'm an immaculate hoarder. Buy as low as possible, hold as long as possible, avoid selling if at all possible, rinse and repeat. Okay, maybe I'm a little dirty. I sold 8% of my bitcoins during last April's dead cat bounce and bought back 2 weeks later for less than 2/3 the price. The other 92% of my coins are clean and safe in paper wallets. |
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MatTheCat
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November 24, 2013, 04:56:48 PM |
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Oh my god, why is this place so full of clowns who are full to the brim of self importance? Probably has something to do with so many delusional idiots having gotten rich through sheer fluke of judgement landing them on the right side of a trade. Of course, y'all prefer to think of your good fortune as being down to your razor sharp business acumen.
That's all I saw; I stopped reading when I realized he was going to whine about hoarding.
EDIT: Here you go: Hoarding and Dishoarding, first section. Learn something!
I wasn't whinging. And if I was whinging about hoarders, I wouldn't be referring to paupers like yourself. I was merely pointing out a fact. And it is an important fact, because if the Bitcoin price was being held up by mass adoption, and 90% of coin trades were due to participators in real world economic transactions then it would be a very different market from what it is. As it is, the market price is rising due to HOARDING. Furthermore, we all know that there are Bitcoin whales in these waters, who have the power to drive this market right down (as well as up). In a market determined by hoarding, all entrants are at the whim and mercy of the biggest hoarders, thus we are all playing in a cornered market. a very different scenario from the ideal. P.S. I read a whole lot less of your post than you did of mine...especially if you got this far. |
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PenAndPaper
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November 24, 2013, 05:01:46 PM |
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If everybody is hoarding it's not a healthy market. You need heavy volume to see rise in price (and also big pullbacks). If nobody had sold since the early days, price would still be at 10 cents.
The problem with hoarding is that people don't invest their btc in businesses and technologies around bitcoin. They just hoard and wait for the miracle to happen. |
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JimboToronto
Legendary
Offline
Activity: 3990
Merit: 4434
You're never too old to think young.
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November 24, 2013, 05:14:32 PM |
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If everybody is hoarding it's not a healthy market. You need heavy volume to see rise in price (and also big pullbacks). If nobody had sold since the early days, price would still be at 10 cents.
The problem with hoarding is that people don't invest their btc in businesses and technologies around bitcoin. They just hoard and wait for the miracle to happen. Why waste bitcoins on investing in businesses when fiat will do just fine? One of my smartest decisions was to pay for my BFL pre-order with dollars last February, instead of using bitcoins. By the time I actually received my miner in late October, difficulty had increased so much that it took me a whole month to mine my first whole coin. That was enough, at today's price, to pay for the miner, shipping, customs brokerage (grrr) and taxes. If I'd paid in Bitcoin, I'd probably never break even. |
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antoineph
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November 24, 2013, 05:15:53 PM |
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If everybody is hoarding it's not a healthy market. You need heavy volume to see rise in price (and also big pullbacks). If nobody had sold since the early days, price would still be at 10 cents.
The problem with hoarding is that people don't invest their btc in businesses and technologies around bitcoin. They just hoard and wait for the miracle to happen. Exactly. And it could damage the concept of bitcoin. You can't stop hoarding, or trust people not to hoard. If they hoard it's because of the inherent structure of bitcoin and its relationship to human nature. The concept of bitcoin doesn't get damaged by hoarders. The concept of bitcoin involves hoarding as a natural part of it. I'm not saying bitcoin is perfect. |
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JimboToronto
Legendary
Offline
Activity: 3990
Merit: 4434
You're never too old to think young.
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November 24, 2013, 05:16:40 PM |
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it could damage the concept of bitcoin.
Damage the concept? LOL |
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zuckerant
Newbie
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Activity: 29
Merit: 0
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November 24, 2013, 05:42:42 PM |
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Yeah. Today I sold a few coins at 760 and probably will buy back a few at 850 tomorrow. Best decision ever.
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gongomanny
Sr. Member
Offline
Activity: 301
Merit: 250
Ɓιтcσιη
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November 24, 2013, 05:46:29 PM |
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The problem with hoarding is that people don't invest their btc in businesses and technologies around bitcoin.
They just hoard and wait for the miracle to happen.
Exactly. And it could damage the concept of bitcoin. If you buy gold, do you need to sel it next day to not damage the concept of gold  |
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notme
Legendary
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Activity: 1904
Merit: 1002
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November 24, 2013, 05:49:15 PM |
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Yeah. Today I sold a few coins at 760 and probably will buy back a few at 850 tomorrow. Best decision ever.
I've lost hundreds of BTC to relentless rallies. If you are a long term supporter, it's better to just spend them on stuff you want. That way, you can support merchants, provide liquidity, and either lock in some profits, or rebuy them to not lose out on future gains. |
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drnick
Newbie
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Activity: 26
Merit: 0
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November 24, 2013, 05:56:34 PM |
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If everybody is hoarding it's not a healthy market. You need heavy volume to see rise in price (and also big pullbacks). If nobody had sold since the early days, price would still be at 10 cents.
+1 If anyone has pangs of regret for spending their early bitcoins, if you hadn't spent them, you wouldn't have the opportunity for regret today! The whole bitcoin community should be really grateful for the early adopters who were spenders and actually made use of the system. Where possible, I try to spend bitcoins or receive payments in bitcoin. I still hoard by replacing bitcoins immediately after I spend them. It's a little more cumbersome to do the Fiat -> Bitcoin -> Bitcoin -> Fiat dance, but it's still fun to see it all work. |
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OC19850520
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November 24, 2013, 06:07:40 PM |
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The whole bitcoin community should be really grateful for the early adopters who were spenders and actually made use of the system. I was been able to mine some coins with my GPU early this year, so you could just mine the coins early this year easily. But not anymore, I have to buy now instead (probably not only from early adopters  ) |
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GriTBitS
Sr. Member
Offline
Activity: 448
Merit: 250
“A decentralized registry for unique assets”
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November 24, 2013, 06:17:38 PM |
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Well when ppl started getting there mini rigs beginning of OCT they were selling them off. Now they are getting low amount of coin return so they're holding on to them... The next batch of miners with the 28mm rigs will get here soon and the price will shoot up again. They will be the new money and wanting to sell except they will need to sell for more to get payback. This cycle will continue to repeat for a long time... Investment needs payback. So they sell. Selling creates Vol. People start holding out for more money but still willing to sell. Then the Increase in difficulty hits and they are back to hording.... March Apr of this year is when BLF started issuing their first mini rigs I believe.
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Buffer Overflow
Legendary
Offline
Activity: 1652
Merit: 1015
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November 24, 2013, 06:20:42 PM |
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If everybody is hoarding it's not a healthy market. You need heavy volume to see rise in price (and also big pullbacks). If nobody had sold since the early days, price would still be at 10 cents.
I don't hoard. I save. |
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JimboToronto
Legendary
Offline
Activity: 3990
Merit: 4434
You're never too old to think young.
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November 24, 2013, 06:25:45 PM |
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If everybody is hoarding it's not a healthy market. You need heavy volume to see rise in price (and also big pullbacks). If nobody had sold since the early days, price would still be at 10 cents.
I don't hoard. I save. I guess I don't hoard then either. I invest. Long term. |
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lightfoot
Legendary
Offline
Activity: 3080
Merit: 2228
I fix broken miners. And make holes in teeth :-)
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November 24, 2013, 06:27:44 PM |
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Because of human beings propensity to run for the hills at the slightest sign of bad news.
The rest get a better price and make money.
I try to explain that to people about the stock market: "It's not down 20%, everything simply is on a 20% off sale.". Unless the world melts down (which oddly enough I really doubt is going to happen) things will not be as bad as people think. |
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kolesozw
Legendary
Offline
Activity: 1316
Merit: 1004
FRX: Ferocious Alpha
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November 24, 2013, 06:28:08 PM |
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But some people already plan to hoard all their coins in a paper wallet under their bed for 4 years hoping it will be 1000000 us by then. It won't be that simple.
Not sure if only 4 years, but I believe it is that simple. I dont believe big crash is comming, only some corrections along the million road |
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Salivan
Full Member
Offline
Activity: 195
Merit: 102
DiMS dev team
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November 24, 2013, 07:23:17 PM |
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Well when ppl started getting there mini rigs beginning of OCT they were selling them off. Now they are getting low amount of coin return so they're holding on to them... The next batch of miners with the 28mm rigs will get here soon and the price will shoot up again. They will be the new money and wanting to sell except they will need to sell for more to get payback. This cycle will continue to repeat for a long time... Investment needs payback. So they sell. Selling creates Vol. People start holding out for more money but still willing to sell. Then the Increase in difficulty hits and they are back to hording.... March Apr of this year is when BLF started issuing their first mini rigs I believe.
miners participation in today market is negligible |
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zeroday
Donator
Hero Member
Offline
Activity: 784
Merit: 1000
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November 24, 2013, 07:25:58 PM |
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I'm hoarder, but I sincerely wish to support the market, and you can always buy a fraction of my bitcoins at $5000/btc.
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freakying99
Sr. Member
Offline
Activity: 429
Merit: 250
Pythagoras and Plato are my brothers.
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November 24, 2013, 07:36:23 PM |
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Well when ppl started getting there mini rigs beginning of OCT they were selling them off. Now they are getting low amount of coin return so they're holding on to them... The next batch of miners with the 28mm rigs will get here soon and the price will shoot up again. They will be the new money and wanting to sell except they will need to sell for more to get payback. This cycle will continue to repeat for a long time... Investment needs payback. So they sell. Selling creates Vol. People start holding out for more money but still willing to sell. Then the Increase in difficulty hits and they are back to hording.... March Apr of this year is when BLF started issuing their first mini rigs I believe.
miners participation in today market is negligible 3600 NEW Coins daily, thats a lot in market trades. |
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mvidetto
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November 24, 2013, 08:35:11 PM |
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Well when ppl started getting there mini rigs beginning of OCT they were selling them off. Now they are getting low amount of coin return so they're holding on to them... The next batch of miners with the 28mm rigs will get here soon and the price will shoot up again. They will be the new money and wanting to sell except they will need to sell for more to get payback. This cycle will continue to repeat for a long time... Investment needs payback. So they sell. Selling creates Vol. People start holding out for more money but still willing to sell. Then the Increase in difficulty hits and they are back to hording.... March Apr of this year is when BLF started issuing their first mini rigs I believe.
miners participation in today market is negligible 3600 NEW Coins daily, thats a lot in market trades. It's actually more like 4k coins daily average 8.9m between blocks or about 4044 btc a day. |
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