Don’t Be Like TOM

[hugeblack]

Tom Randolph was tired of waiting until Bitcoin rose so he decided to sell at $ 14. this might seem like a win, but a big loss now.
History is repeated, the deal that it considers excellent today at the price of $ 10,000 may seem funny in the future.

A question outside the text, What is the measure or comparison of what happened, do we consider this a recovery for BTC? Or the collapse of USD?

[rdluffy]

I think everyone here regrets some sell of BTC in a low value 

I regret not to sell at 19.5k USD and wait to buy again in the crash, maybe Tom bought again his BTC and had profits

It's impossible to predict the price and we should not be thinking about the past, the pizza guy is the most famous person who spend a bag of BTC for a cheap price, but what if after that, BTC crashed to 0?

[hatshepsut93]

Bitcoin can't grow infinitely, especially at a very fast rate that we experience now, sooner or later there will be a moment when the market will stop being perma-bullish in the long run, and the price will become more boring, maybe something like gold's price. You can't just take past price growth and make an argument that it will be like that in the future, you need to analyze the fundamentals of an asset. You can look at many altcoins, who had huge growth, like for example Ethereum going from a few dollars to over $1000, and look how miserable they are now - all because they were just hot air and lack solid fundamentals.

[fiulpro]

Well actually I think it is their own personal choice , if he wants to encash then ofcourse no one can actually stop anyone.
He might be trying to influence the public by actually posting it online on Twitter thinking people will follow , well I think this is what he was trying to do.

There is a lot of difference between actually doing and then just talking about it.
Thus I think just ignore and do whatever you like.

Thats how people became millionaires.

[livingfree]

I've seen the same regret from another early adopter on social media that's posted again and again. I find it entertaining but yeah this is the reality and it's just keep on repeating.


Original link: https://twitter.com/gregschoen/status/70261648811761665?lang=en

[1Referee]

I regret not to sell at 19.5k USD and wait to buy again in the crash

You say this because you know the price has dropped to $3000 last year. With all the hype during the 2017 bull run the price could have reached even $40,000 a month or two after the near $20,000 peak. The market was so thin at that point due to how people just didn't want to let go of their coins, that $40,000 wouldn't be all that far-fetched.

I'm pretty sure that you would feel bad having sold at $19,500 while staring at the price that broke through the $30,000 level. In hindsight we all could have done things better.

Also, people who usually say that they will buy low, will mostly keep waiting because even at $3000 they think it has more room to the down side.

[Ziskinberg]

I wish we can still hold at $10K and not get tired, maybe not the same amount mentioned by OP but BTC is still not gonna stop at the current price now.
I'm sure there's more increase to come, so holding is must if you trust bitcoin's future.

[princesspoppy]

There will always be regrets in life but hopefully I'll not regret the same things in th near future. What I'll do is to make sure to hold every bitcoin I'll habe until I see the best profit I can ever have that will satisfy me, that is what I'll definitely do.

[GreatArkansas]

Because they don't know what will happen in the future especially on the Bitcoin, that is one of the best factors why I like Bitcoin, no one can predict, pure speculation.
They almost sold at their lost right? Because they are afraid, it is still the same now, there are new people keep coming on Bitcoin community, we can't control their emotions. It will happen all over again, as time goes by.

[HODLN]

Bitcoin prices are always changing and like anything else, you gain nothing if you never take the risk of not gaining later. Hindsight is 20/20. Just keep HODL’n

[bbc.reporter]

However, there is another Tom that everyone hates that we should love hehehe. I do not know why they hate him. They hate him when he is right, they hate him when he is wrong. Is it something with this Tom's face?

[jseverson]

A question outside the text, What is the measure or comparison of what happened, do we consider this a recovery for BTC? Or the collapse of USD?

The USD is far from collapsing, and there has certainly been no semblance of  any collapse from 2011. This is all on BTC, and the growth of the ecosystem and the community backs it up.

As for replicating a scenario like this, I feel like we should stop looking at percentage points for some perspective. BTC has grown by about $10k per coin since then, so the same amount of growth would only really take us back around to ATH. Bitcoin still has a lot of room for growth for sure, but I don't think selling at $10k will ever sound nearly as ridiculous as selling at $14 with current prices at $10k.

[pooya87]

this doesn't have to be a bad thing. for example selling on top of a big bubble like $14 can actually be a very good idea, and they can always buy back when the bubble bursts and price comes back down. that way you get a nice profit and can buy more bitcoin with it.

A question outside the text, What is the measure or comparison of what happened, do we consider this a recovery for BTC? Or the collapse of USD?

is it my only two options?!
i'd call this more of bitcoin's growth and adoption rather than "recovery"!

[BitcoinHunt3r]

If the story like Tom, there are a lot of people who get that experience. Maybe what make it different is some people not share their experience and no one know they are regret or maybe too embarrased to share it.  
But something that i learn from bitcoin price that keep increased is keep grateful as long you not lose in trading.

[odolvlobo]

Tom Randolph was tired of waiting until Bitcoin rose so he decided to sell at $ 14. this might seem like a win, but a big loss now.
History is repeated, the deal that it considers excellent today at the price of $ 10,000 may seem funny in the future.
A question outside the text, What is the measure or comparison of what happened, do we consider this a recovery for BTC? Or the collapse of USD?

You don't know the whole story. The bubble popped in June at $30, he sold at $14 in July, and the price fell to $4 by November. He made a great trade saving himself from further losses.

Plus, if he bought back in November, he would have had 3 times as many bitcoins and could possibly be sitting on millions of dollars right now.

I am like Tom, and I couldn't be happier. The bubble popped at $20k in December 2017, I sold at $18k in January 2018, the price fell to $3k, and I bought back at $4k March 2019.

[Kakmakr]

The key to success lies in the last part of his statement and that is that he sold the coins to recover his initial investment. You are risk free when you get back your initial investment capital and that should be your primary goal. I was one of the lucky people who bought early at a low price and got back all of my initial investment capital and also 800%+ profit on that investment. 

So, set your target first to get back your initial investment capital and then use any profit after that to "wait" for the big payday. Tip : Never sell all your coins, because you do not know when the price might go to the Moon in the future. 

[joelsamuya]

Well, we can say and even make some laugh at those Bitcoin holders in the past who made the mistake (in retrospect) of selling at that time. However, we have to understand that being a pioneer is not an easy task because you don't really know what can be and what will be. I am sure there had been many projects that even started so good but ended up bad. However, we take some lessons from the experiences of the people in the history of Bitcoin.

[buwaytress]

Just to point out, it wasn't a win. Tom actually says he is cutting his losses, so he must have seen an ATH... Too lqzy to look up what that might have been in 2011 but drawbacks of 95% have been seen with Bitcoin after ATHs so am not surprised at how he felt. Shouldn't diss Tom though, he had every right, and entitlement. Early adopter, just not holder.

[Red-Apple]

a better suggestion would be never follow Toms of the world. the social media platforms are filled with them who are just thirsting for profit and care about nothing else. most of them don't understand the market at all but they keep on talking about it and analyzing it!!!
we have lots of examples right now too. people who have been calling $3k the bubble and were talking about selling and waiting for $1000 to buy back.

[CBANX2]

BTC hodler are in profit since 2017 and now with current Bullrun, BTC hodler has gain profit beyond the expectation and predictions show its magic. These BTC hike scenarios, one more time put forth its powerful existence in the global economy.