prices are falling on declining volumes....

[TERA]

The low volume is creeping me out now. This is something new that we have not experienced before... prices falling on declining volume? Combine this with: the exchanges that I trade btc on are all facing some type of issue and and are not trustworthy, and.. Can someone give me a convincing reason to even remain in this market anymore? I'm starting to think the wisest thing to do is just to pull my funds from bitcoin exchanges and play the stock market or something.

[Holliday]

After trading Bitcoin the stock market will put you to sleep.

[Waramp22]

Why don't you just put your funds in your wallet? Day trading?

[TERA]

I don't buy into a falling market. I also don't trust the exchanges. This seems to leave me no other choice than to wire fiat out of exchanges and then find a way back in once my confidence in the market has been restored.

[TERA]

Supposedly with Coinbase, I could buy up to $50K worth of bitcoins per day with a checking out, instantly and based on bistamp price. Is that correct?

[Dalmar]

After trading Bitcoin the stock market will put you to sleep.

Many penny stocks are even crazier than altcoin swings.

Shorting marijuana stocks last week would have netted you nice gains.

[DeadwoodDan]

what if, somehow, bitcoin, fundamentally, wasn't actually WORTH anything

[DeathAndTaxes]

I don't buy into a falling market. I also don't trust the exchanges. This seems to leave me no other choice than to wire fiat out of exchanges and then find a way back in once my confidence in the market has been restored.

BitSimple ( https://bitsimple.com) offers same day purchases by bank wire.  You wire the funds and receive the coins at an address you designate.  Your funds are never held on site, it isn't a wallet service.  Obviously it isn't a trust-less system but the trust is limited to a duration of a single exchange.

[GigaCoin]

I understand what u mean by this, funny I was thinking exactly the same thing earlier.

It seems to me governments around the world are really trying to crush bitcoin. No Russia, no China , no India all that means a lot less money is coming in thus lower volumes.

Before you say "omg but teh still can buy bitcoinzzzz!!" U guys don't realize how the majority of people think, when their government announces something is bad and that they shouldn't be buying it and that its not allowed to be used, the vast majority of people comply and won't be buying bitcoin. The majority of people are NOT anarcho libertarians who want to defy gov, they'd rather suffer poverty by inflation unknowingly.

Having said that, I still think bitcoin will rise to $10,000. It will happen I don't have a doubt, but right now we have some huge set backs and every god damn exchange the comes up has a problem, there is always this fear that ull never be able to cash out or withdraw ur bitcoins, that fear needs to end.

Gox needs to die, the foundation needs to stop supporting it. Exchanges like bitstamp, kraken and coinbase need to up their game and improve among their support, trading engine, and deposit / withdrawal issues.

Otherwise just like OP, people are starting to think, why am I even here? Why am I buying bitcoin anymore?

[TERA]

I also asked, how do I become a "client" with one of the "whales", but never got a response.

[VincentX]

what if, somehow, bitcoin, fundamentally, wasn't actually WORTH anything

Money has value only because it allows for efficient economic calculation. Cryptocurrency has the potential to do this more efficiently than anything else, hence it is poised to become the most valuable asset in existence.

[RyNinDaCleM]

Prices falling on declining volumes only shows a divergence in the current trend. It's time to bounce in a counter trend rally (suckers rally, correction...etc) When the indicators get back to reasonable levels, it's time to go for another dip.

[chessnut]

what if, somehow, bitcoin, fundamentally, wasn't actually WORTH anything

oh you mean like paper USD and all the money in your bank account?

[TERA]

I get it. Cryptocurrency is valued at potentially infinity. So it's value is [0,infinity].  I have allocated enough bitcoins in cold storage (and altcoin exchanges) for the infinity case already. This was originally a 20% position, but since has become 15% of my position (I have made no trades). Oh well, eventually it will be infinity anyway. But in the meantime, I need to figure out what to do with the other 85%. [0,infinity] is not an acceptable store of value for it, so I need to find a different way out. Maybe I will sell to SecondMarket?

[seleme]

Just sell out please.

[TERA]

Just sell out please.

I already did that a month ago.

[billyjoeallen]

Just sell out please.

I already did that a month ago.

Proportionally speaking, how is this different than any of the other crashes? Do you not remember them or were you not around yet? This is Bitcoin. We ain't trading tiddlywinks.
 

[TERA]

The difference now is I do not trust the exchanges. I guess the same was the case in 2011. I was not here then.

I will still buy back in if and when an uptrend is reestablished but do not trust a foreign exchange with my funds in the meantime.

[Mythul]

A few years back people didn't trust exchanges as much as they do now, but the ones who made a leap of faith made a really really really nice return. In the end you can't get rich or 10x return without some risk. TERA, gamble only what you afford to lose, keep everything else in cold storage, far enough so that it will be inconvenient to panic sell.

 

[billyjoeallen]

The difference now is I do not trust the exchanges. I guess the same was the case in 2011. I was not here then.

I will still buy back in if and when an uptrend is reestablished but do not trust a foreign exchange with my funds in the meantime.

You prolly can't get your account set up at Coinbase before the market turns anyway. It's Ok. The big boys will take it from here. Get some popcorn and enjoy the show.

“If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that ye were our countrymen.”
― Samuel Adams