Don't sell your bitcoins while it's falling!

[SamyPesse]

yes more sales  means falls faster

[StephG]

I'm holding on to mine and "going long" as they say...

I might be naive, but I believe in the longterm potential of BTC as a legitimate form of currency.

[Jaguar0625]

Bitcoin is going to have a hard time controlling its volatility, which it will need to do in order for it to become a real currency.

[Lone Wolf]

I'm holding on to mine and "going long" as they say...

I might be naive, but I believe in the longterm potential of BTC as a legitimate form of currency.

I don't disagree that btc may someday become a medium of exchange that replaces highway robbers like Western Union or Money Gram, but at this moment in time, it is caught in a classic speculative mania/bubble.

I think going long now is like trying to catch a falling knife.  You will get hurt.  If the bubble follows the chart I posted, and it should, then there's a long way to go until btc hits bottom and true believers are in the DESPONDENCY stage.  Only then will it be time to buy at the "point of maximum financial opportunity".

https://twitter.com/YachtsOnTheReg/status/409383193796550656/photo/1

[Atran94]

Thank you for your kind thoughts but may I respectfully request you to fuck off?

[Lone Wolf]

Thank you for your kind thoughts but may I respectfully request you to fuck off?

HA HA!  Your response just proved my point.  Btc true believers are in the ANGER/DENIAL stage.  In this stage anyone who has a short term bearish view and/or who dares question their almost religious belief is attacked with ferocity, rage and ridicule. 

Only people who are losing money on their investment get that angry!

[Asinine]

Newbies, please note the persecution troll.  Persecution trolls claim to be persecuted so they can justify making inflammatory remarks and insulting others, then claiming further persecution when they are called on their actions.  They are common on forums and usually haunt topics where people take themselves and their beliefs too seriously.  Further, they are often accepted by those that wish to be antagonized in a complementary attempt to feel justified in holding their position.  So, attempting to tell others to stop feeding them usually does no good.

Just remember that the comments are meant to reduce people to the mental level of vermin by kicking their emotions into overdrive, drowning out their reason, and then laughing as they squirm.  Think sadistic kid with a small animal and a firecracker that harps on how tough his life is before and after he gets caught...

[tomsloan]

Bitcoin is going to have a hard time controlling its volatility, which it will need to do in order for it to become a real currency.

This is my way of thinking. What I think btc "believers" should be worried about right now is not achieving the 2-3k bitcoin, no matter how much my coffers may subsequently smile. Instead, let's worry about stabilizing the value of the curreny so that people set prices in terms of bitcoin rather then setting the price in dollars and then converting to bitcoin based on the latest mtgox numbers. I want to be able to walk into a coffee shop and buy a cup of coffee for x bitcoins rather than $x = y btc @ exchange-rate z.

If we can do that (be it with bitcoins, altcoins, litecoins, WHATEVER!), then we can finally decouple the dollar from its position as the reserve currency of the world and the purpose of crypto-currency can truly shine. But in order to do this, we've got to find a way to change people's perspective on what to do with bitcoins.

[Lone Wolf]

Newbies, please note the persecution troll.  Persecution trolls claim to be persecuted so they can justify making inflammatory remarks and insulting others, then claiming further persecution when they are called on their actions.  They are common on forums and usually haunt topics where people take themselves and their beliefs too seriously.  Further, they are often accepted by those that wish to be antagonized in a complementary attempt to feel justified in holding their position.  So, attempting to tell others to stop feeding them usually does no good.

Just remember that the comments are meant to reduce people to the mental level of vermin by kicking their emotions into overdrive, drowning out their reason, and then laughing as they squirm.  Think sadistic kid with a small animal and a firecracker that harps on how tough his life is before and after he gets caught...

Thanks for the psychological evaluation.  How much do I owe you?

How is saying what is factual, that every previous speculative bubble has collapsed in on itself, insulting or inflammatory?  You deem it insulting and inflammatory b/c of your own emotions and your reaction to my comments.  I've never insulted anyone, ie calling anyone an idiot, stupid for buying btc's etc.  i did laugh at Atran94's comment b/c it specifically illustrated the EXACT point I had made a few posts ago that any comments made by someone who is short term bearish or pointing out that btc resembles previous bubbles elicits an angry response.

I am not a troll.  I am just saying I have experienced the exact same reaction when I felt that the real estate market was in a bubble in 2007 and when I said Apple seemed overpriced and due for a sell off as it was climbing to $704 in 2012.  Whenever I posted something in an article's comments section or on a forum on those topics, I got the same reaction both times.  Everyone said no way, not gonna happen, you have no idea of what you're talking about etc. etc.  Some reacted angrily (Apple fanboys were particularly unhappy) and most laughed it off or said it was ridiculous.

And btw, as far as animals go, I have 2 dogs.  So you're way off there Dr. Freud.

[chaglayan]

Don't believe anything on the internet!
At least do some research. Study some economics, finance etc. than invest in cryptocurrencies. It's your own decision to sell or buy whenever you want. Follow the market but don't listen to everyone in the forums.

[Asinine]

You've already paid...  you've already paid marvelously...

[pand70]

Thank you for your kind thoughts but may I respectfully request you to fuck off?

HA HA!  Your response just proved my point.  Btc true believers are in the ANGER/DENIAL stage.  In this stage anyone who has a short term bearish view and/or who dares question their almost religious belief is attacked with ferocity, rage and ridicule. 

Only people who are losing money on their investment get that angry!

I 'm a true believer in bitcoin and i also believe that volatility hurts the currency badly. Obviously people will get angry when they lose money but they 'll also calm down in the next rise 

[Lone Wolf]

I 'm a true believer in bitcoin and i also believe that volatility hurts the currency badly. Obviously people will get angry when they lose money but they 'll also calm down in the next rise  

Wild volatility is not good for any currency, trade, investment, store of value etc. That's why the FOREX market is so boring. Those currencies rarely move more than 1-2% in a day.

btw, nice avatar.  i have that t-shirt

[azedee]

The sellers are morons. It's a bear trap!!!!!!!! 

[marginalerror]

Buy and hold is the best strategy. If it "crashes" that is just an opportunity to buy cheaper.
Too many are caught up in the whole "buy" "sell" make a quick buck thing and most end up losing money "gambling" in Bitcoin. Bitcoin is meant as a means of commodity and not a way to get rich quick. While you can possibly make money this way, you are only hurting Bitcoin by selling with everyone else.
Overall Bitcoin is always rising in price and you will make money if you hold your coins. When the price goes high enough you might want to cash out some profit but don't cash out everything or you'll regret it because it's always on the rise. When the price "crashes" a couple hundred bucks the pros are laughing at you while you cash out and buy your cheap coins to hold. True believers hold strong because they know the price will correct far beyond the drop and don't panic because they have already made more than enough to compensate for the "crash".
Bitcoin is about more than making money. Although making money is nice.
Day traders are bad gamblers who generally lose money or greedy greedy people that don't care about Bitcoin as a commodity. Bitcoin is about Bitcoin, not fiat!

Just my two coins

[blackraven1425]

I think the problem right now is that there's a substantial number of people investing into BTC as a speculative venture rather than as a currency. If someone is speculating on the future value of coins, they're coming in with a completely different mindset than someone who believes BTC is a currency, and will push up prices along the way. Once the speculative bubble bursts, BTC needs people to actually use it as a currency to buy and sell things in order for it to survive long term. This means it needs to be used for more than a few niche places in real life, a couple of illicit marketplaces, and as payment for ASIC mining equipment - which isn't the case right now. Until it is in use in a widespread way in physical locations, it's ripe for speculators to abuse.

Anyone holding BTC for a long period of time with the expectation that it will gain value on it's own is a speculator. People need to spend money, not hold onto it in a mattress. When it comes to currency, circulation is highly important, and any given successful currency needs to have a strong incentive to spend or invest rather than save in a mattress in order to provide the actual value associated with every currency - a means of exchange that is more convenient than barter.

Unfortunately, BTC (and other crypto) have a massive problem with the incentives for mining. They all make the assumption that people will mine because the coins will be worth more in the future than they are right now. Without this incentive, you don't have miners in the first place. With this incentive, you have a bunch of speculators involved with BTC until the last coin is mined.

[Johnny Bitcoinseed]

If that is a moon rock or meteorite, I'll take it!

[marginalerror]

Spending is indeed also important! Gyft.com is a great place to trade in your Bitcoins for something of value. Besides gas and groceries and maybe a car what can you not get with an amazon gift card?

[beetcoin]

don't sell your bitcoins while price is falling, and don't sell while the price is rising.. then when to sell?

[marginalerror]

YOU DON'T EVER SELL!

Actually you sell when your profit margin is high enough that you can sell without taking out too much of your investment, which is currently potentially invaluable. Doubling your investment and cashing out what you put in while leaving the other half to simmer has always seemed like a good idea to me. If you make enough to pay off your house or car or credit card or whatever that also seems like a good idea.
It's not so much that you shouldn't cash out, but that you shouldn't cash everything out. Or that you start using Bitcoin as a commodity rather than an investment. If you're gonna have enough faith to cash in then you should have enough faith to leave some cash in.
The ultimate goal is that Bitcoin will be accepted same as cash, that's really kind of what you're investing in. If that's not what you're investing in then what are you investing in? Invest disposable cash into it, then if you want to dispose that cash cash some out, or purchase a gift card, or someday maybe a car