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Author Topic: Bitcoin price is melting down and this is your fault  (Read 153 times)
lbassotto
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August 09, 2018, 06:29:59 PM
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 #1

We learned nothing from Bitcoin
Taken by the profit thirst during the insane highs in the second half of 2017, we become addicted to absurd profits of 10% a day, I am included in that. At the top of irrational exuberance, the market turned, came despair and abstinence. We completely forget the purpose and principles behind the emergence of Bitcoin.

It was created to be an alternative to the financial system that has led us to the greatest crisis in history. Satoshi, through his creation, gave us the possibility of having a free high-inflation, scarce money, without the need for banks, governments and unconquerable by any authority.

With Bitcoin we are the owners of our own wealth, being able to transfer to whomever we want, without giving satisfaction to anyone, in just a few minutes to anywhere in the world.

I’m not saying that everyone who buys Bitcoin has to be libertarian, or something like that. You are totally free to buy the currency for speculative purposes and fast enrichment, after all, we all like to make money. But we need to understand the purpose of the asset in which we are investing.
A sweet illusion
Now we are getting to the point of begging to  SEC in order to approve the Bitcoin ETF. We are thrilled when we see news that Goldman Sachs is going to buy trillions in Bitcoin.

We celebrated when future contracts arrived in Chicago and coincidentally the correction began the same day. Soon we will be asking for the regulation of Bitcoin to give greater security to the market.

The big question is, did Bitcoin needed some help from the state and the financial system to reach US$ 19,000? Did he needed an ETF to get millions of users making transactions? Do not.

Bitcoin got there by himself because he is a disruption as an asset and technology. It was to be an alternative to the financial system, not a tentacle of it.

The only thing that Goldman Sachs did was almost bring the world economy into the abyss. Now we want him to invest part of his funds in Bitcoin, because we are simply thinking of a valuation. We celebrate any news that can make the price go up without having any thought about it.

How the banks are destroying Bitcoin
The big banks will not put pressure on the states, with authority, to ban Bitcoin. They would incur the same mistake made previously: the prohibition and confiscation of gold. When you want to destroy an asset, this is a bad strategy because people sympathize with the asset in question, as it was with gold.

If you want to destroy an asset effectively, it should make people hate you. This is very easy, with future markets, large banks can easily manipulate the price. This already exists in the precious metals market and is now beginning to take place in the crypto-coins market, the name of this practice is: price suppression.

Through this practice, you keep prices always under control, avoiding major rallies like last year. Investors are increasingly frustrated with continued lows until they get rid of their Bitcoins. Thus, investors lose their faith and confidence in the asset, until they come to hate it.

In this way, the financial market begins to accumulate more and more currencies, until they force a new rally, selling the currencies at a more expensive price for those who previously discarded them. The banks are winning this battle, and we’re not even realizing it.

Do not trust. Verify.
If you have Bitcoin and think about selling, do not sell it cheap. We have been through major crashes, attacks, attempts at banning and he is still resilient and getting stronger. Bitcoin’s value comes from its scarcity, encryption and math, which is better than any coverage. Bank currency can be created indefinitely through fractional reserves.

Our money has no other coverage than in state words written on paper. One hour this account will no longer close, and may cause serious consequences for the financial system. At this time, you will want Bitcoin. Learn to value him more.

https://cointimes.com.br/bitcoin-is-melting-down/

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August 09, 2018, 06:55:29 PM
 #2

What did you learn from bitcoin? From your post, I think nothing.
It's curious to see how this people want high price of bitcoin. At first they are looking for low price to buy it, then come here and open threads "bitcoin needs rise" and similar ones, their point is profit. What do you think about stable 20K usd price? You'll come again and say: we need rise... That's boring to my mind, bitcoin goes like it has to go.

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BartS
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August 09, 2018, 08:22:41 PM
 #3

Most people here are holders, they understand the value of bitcoin, not its price those two are different concepts, the price of bitcoin may vary and it can go up or down but its value is only going up thanks to the fact that the developers are not stopping working in it, so the only thing we need to do to avoid the speculators is to stop speculating with our bitcoin, do not sell it on a whim, if you are going to sell it form a strategy that allows you to maximize your gains, but never sell all your bitcoin at once since I really think that even holding one bitcoin in the future can change your life.
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August 09, 2018, 08:29:54 PM
 #4

Most people here are holders, they understand the value of bitcoin, not its price those two are different concepts, the price of bitcoin may vary and it can go up or down but its value is only going up thanks to the fact that the developers are not stopping working in it, so the only thing we need to do to avoid the speculators is to stop speculating with our bitcoin, do not sell it on a whim, if you are going to sell it form a strategy that allows you to maximize your gains, but never sell all your bitcoin at once since I really think that even holding one bitcoin in the future can change your life.

The only worse thing that we can do right now is also speak up negatively about cryptocurrency which will just worsen the thinking of people who are already negative about the trend in the crypto market. Instead of ranting we should learn how to maximize our profits and learn new ways to earn in the crypto market as there are many ways to earn from it.

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August 09, 2018, 09:18:52 PM
 #5

I dont know about hardcore Math but I do know what scarcity means.

I strongly agree with this. There is no way we could turn thid back to where it is from. ($19k) But I do know one thing, somewhere in the future it will be a problem to have even just .01 of bitcoin.
Yes that day will come and somehow we supporters could enjoy it.

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August 09, 2018, 09:28:40 PM
 #6

If you have Bitcoin and think about selling, do not sell it cheap. We have been through major crashes, attacks, attempts at banning and he is still resilient and getting stronger.
Why not? if I don't use Bitcoin (as a currency) on a regular basis then i'll be forced to back and use fiat. A lot of investors will sell their Bitcoin even if the price is cheap as long as they're making profit. Blaming everyone for these short term dips doesn't help anyone. You should know that there will be people who are willing to sell Bitcoin because not everyone who's involved here has the plan of holding them for a long time. If several investors are affected because of these bad news then let them do what they want because Bitcoin will rise up eventually.


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August 10, 2018, 07:04:05 PM
 #7

What did you learn from bitcoin? From your post, I think nothing.
It's curious to see how this people want high price of bitcoin. At first they are looking for low price to buy it, then come here and open threads "bitcoin needs rise" and similar ones, their point is profit. What do you think about stable 20K usd price? You'll come again and say: we need rise... That's boring to my mind, bitcoin goes like it has to go.

If you think that i've learned nothing then you didn't understood a shit about my text.

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August 10, 2018, 07:09:16 PM
 #8

I think that you are partly right and we can rule the vehicle of Bitcoin manipulating its price, but it was never easy to rule over the million people crowd, especially in terms of decentralisation.

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August 10, 2018, 07:15:22 PM
 #9

Great overall points.

I am mainly stunned by how people still expect the market to go through a bull run. It's like last year's increase has brainwashed people to such extent, that they think the only way for the market is to increase.

In a way it's understandable if people blindly entered this market early 2017 where the price shot up from $1000 to nearly $20,000, but at some point you expect common sense to kick in, but it's not happening unfortunately.

If you browse through all social media platforms (this forum included), there is only one term that dominated the entire crypto space, which is bull run. I have never seen something similar to this during my years here.

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August 10, 2018, 07:58:15 PM
 #10


Let those people dumped, let those people be carried away, let those people do what they want, let those people believed on what they want to believed, let those people speculate, let those people be negative....etc.. etc..etc..

It's common and besides we have" different views and approach" about how we will treat bitcoin. People also have different purposes, uses or whatever to their respective precious coins.

We just have to go with the flow. If others don't want to ride, then so be it as they have their own will to do what they think is right.

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August 10, 2018, 08:53:12 PM
 #11

I think that you are partly right and we can rule the vehicle of Bitcoin manipulating its price, but it was never easy to rule over the million people crowd, especially in terms of decentralisation.
The cryptocurrency market will go through a roller-coaster ride for the past few months. The values of nearly 80% of altcoins have dropped, and some of them have even fallen. The market rate has slowed, and the price of Bitcoin was lowered to $ 6000 level. But our predictions believe that BTC will take its values.
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August 10, 2018, 09:05:54 PM
 #12

You are right OP,  many people dumping Bitcoin  is doing so as a result of doubts and this doubts then result in Bitcoin  price dips. And it's so unfortunate that many people that invested in Bitcoin don't really know about what it entails but just wants to make money from it. This recent event about EFT accepting Bitcoin should tell you more, many rushed and buy BTC cause they believe there will soon be a price increase then sell off when they see no indication of it acceptance.
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August 10, 2018, 09:08:33 PM
 #13

Bitcoin is sure a digital currency to Hold, no matter the present status, base on speculation now is the best time to take advantage and accumulate BTC, as  the  currency is sure to be profitable, We do not need to panic we are on the rigth track as an investor in BTC.

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August 10, 2018, 09:12:41 PM
 #14

What did you learn from bitcoin? From your post, I think nothing.
It's curious to see how this people want high price of bitcoin. At first they are looking for low price to buy it, then come here and open threads "bitcoin needs rise" and similar ones, their point is profit. What do you think about stable 20K usd price? You'll come again and say: we need rise... That's boring to my mind, bitcoin goes like it has to go.

It's not the point of the topic. And personally, I agree with the guy. The community learned nothing and  keep to be stubborn, the majority will be crying in some times blaming the current banking system

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August 10, 2018, 09:15:23 PM
 #15

Bitcoin got there by himself because he is a disruption as an asset and technology. It was to be an alternative to the financial system, not a tentacle of it.
Bitcoin got there because the hype machine was on the high road grabbing those in its way and hitting those who stand against it. One day of December in the last year, every news outlet suddenly became interested in reporting news about this hot 'new' digital currency that is a sure–way of getting rich quickly. People started FOMO (fear of missing out), and rushed to buy their 'quick way of becoming millionaires,' with zero knowledge or interest in the technology itself. This created a bubble, which soon burst and everyone panicked and rushed just as fast to get out. Now we are here.
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August 10, 2018, 10:56:25 PM
 #16

If you have Bitcoin and think about selling, do not sell it cheap. We have been through major crashes, attacks, attempts at banning and he is still resilient and getting stronger.
Why not? if I don't use Bitcoin (as a currency) on a regular basis then i'll be forced to back and use fiat. A lot of investors will sell their Bitcoin even if the price is cheap as long as they're making profit. Blaming everyone for these short term dips doesn't help anyone. You should know that there will be people who are willing to sell Bitcoin because not everyone who's involved here has the plan of holding them for a long time. If several investors are affected because of these bad news then let them do what they want because Bitcoin will rise up eventually.



Yes, it is true, I strongly agree with you, not blaming others with the deterioration that occurs at this time is not the main solution to increase value again and again you become a greedy person, everyone is certainly different from the basic principle, anyone wants to hold it up in the future and only those who use it as payment and sales, there are still many people who are not aware of the potential that exists in Bitcoin, so it's no wonder that there are still many people just throwing it away.
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August 10, 2018, 11:19:39 PM
 #17

Pressure from seeing the price taking a beating is what, IMO, forces people to sell their crypto regardless of them being stubborn or not. There are a lot of times when you still want to hold on to your assets, but due to the price seemingly taking all these hits and crashes for the longest of time, it makes one think about the sensibility of holding on, most especially if you are already downed with a huge amount of loss. There will always be some people who can't bear to see the reds, and we can't blame them; it's their money anyways. However if given the chance, the same people still ignore the fact that they can somewhat profit by buying the dip.

You can't really alter one's mindset especially if it involves money. It will take a lot of persuading before someone realizes that they should be doing X instead of doing  Y.

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August 10, 2018, 11:54:15 PM
 #18

If you have Bitcoin and think about selling, do not sell it cheap. We have been through major crashes, attacks, attempts at banning and he is still resilient and getting stronger.
Why not? if I don't use Bitcoin (as a currency) on a regular basis then i'll be forced to back and use fiat. A lot of investors will sell their Bitcoin even if the price is cheap as long as they're making profit. Blaming everyone for these short term dips doesn't help anyone. You should know that there will be people who are willing to sell Bitcoin because not everyone who's involved here has the plan of holding them for a long time. If several investors are affected because of these bad news then let them do what they want because Bitcoin will rise up eventually.


What you say is very reasonable. They only consider bitcoin as a means to make a profit rather than looking at its future value. When the price goes down or the market is not good they will be the first to sell it at any price to recover capital or a portion of the capital.
If you are merely an investor then you have to think about the price in the short term.
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August 10, 2018, 11:54:42 PM
 #19

Continuous downtrend in the market and multiple price changes will drive some people crazy specially if they have bought their crypto assets while at its peak and what they would want to do is to save what they think they can save and one cannot blame them as that is their decision. Sure it can start negativity but we cannot control it specially the hype that the market had last year.
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August 11, 2018, 11:20:47 AM
 #20

The dip in bitcoin price has been an issue each and everyone talk about everyday. It is sad to see most investors selling their Bitcoin as lower as you can think of. These investors tend to dump the coin and devalue the coin at any instance. This inculcates fear in most people not to invest because the dip in the price is taking a longer time to revive.   
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