Bitcoin Food for Thought!!! (Bear Market Special)

[Bitstar_coin]

Am not sure but from the tone of this post i think it was made during times like this. i stumble across this very inspiring piece of btc post from the telegram channel i follow so i thought to share it here to inspire some of us who are thinking the worst because of the blood bath. More than 10 years since this post was made here in this forum, i hope the @op bought back his btc otherwise........ won't comment any further
Link from the source is either broken or removed, couldn't dig it from here.



Do share your beautiful thoughts.  

[1715038276]

1715038276

[pooya87]

I've always said that there is no problem with selling bitcoin, I'd go as far as saying there is even no problem with panic selling bitcoin either. The problem is not buying back soon after. Imagine if this person who panic sold below $20 had bought back when the panic sell ended and before the price started shooting back up again.

It's the same scenario repeating itself every time we have a drop. A large number of weak hands panic sell but they don't buy back, only a smaller percentage of people are buying these days. People who would be called whales a couple of years later.

[hZti]

There is also a post like this in the german local forum, wehre somebody is very disappointed that BTC is again at 10 € and is wondering if it will ever go up again.

Hi Leute,

was ist da los? Seit über einer Woche ist der Bitcoin Kurs nur noch am sinken. Mittlerweise werden auf Bitmarket.eu schon Bitcoin für 10 € angeboten.
Warum passiert das? Ich meine der Mt Gox hack ist doch nun lange her, der Kurs war doch zwischendurch glaub ich auch mal wieder kurz am steigen.
Was meint ihr, wie lange wird das jetzt noch so gehen?

[Lucius]

One important difference between 2011 and 2022 is that today people sell BTC for stablecoins, and before they sold them for $, so although fiat is not something to trust, stablecoins are another higher level of risk since they are backed with the same fiat, and in addition have the added risk of being frozen no matter where they are stored.

I can understand people selling BTC for a variety of reasons, especially if they have no choice because they need that money for daily needs - but it’s hard for me to understand that people don’t learn from the past and repeat the same mistakes. I have already written several times that from the perspective of profit, which is why most people are interested in Bitcoin, the most important thing is to determine the point of entry and exit.

So far, it has proven to be the entry point in situations like this when the market has suffered a severe blow, or for those who want to profit in the short term at the time of halving. ATH will most likely follow in 6-8 months after that and the smart ones will know how to take advantage of this by selling little by little on the way up.

Of course, this is not financial advice, but only what can be seen if you look at the brief history of Bitcoin.

[tranthidung]

One important difference between 2011 and 2022 is that today people sell BTC for stablecoins, and before they sold them for $, so although fiat is not something to trust, stablecoins are another higher level of risk since they are backed with the same fiat, and in addition have the added risk of being frozen no matter where they are stored.

You are right.

Both fiat and stable coin are inflationary but with fiat, at least we have governments and central bank back behind. If governments are strong, we can believe in that fiat but of course with inflation, purchasing power will decrease.

With stablecoins, lot of things we don't know and any company should have less power than government and central bank so there is more risk. A higher risk is with algorithm stablecoin with Terra UST & LUNA is a good example. TRX and USDD is a latest one.

[passwordnow]

That's what everyone is feeling when the market is crashing but got no plans on how they're going to overcome this crash. It's true that buying back is important and even if you've lost already but you still want to remain in the game, that's how it should go.

I've always said that there is no problem with selling bitcoin, I'd go as far as saying there is even no problem with panic selling bitcoin either. The problem is not buying back soon after. Imagine if this person who panic sold below $20 had bought back when the panic sell ended and before the price started shooting back up again.

It's the same scenario repeating itself every time we have a drop. A large number of weak hands panic sell but they don't buy back, only a smaller percentage of people are buying these days. People who would be called whales a couple of years later.

I agree, no problem in selling if you need the cash but make sure that you have a game plan on how you're going to buy back whether at the same price or not, lower or higher as long as you have a long term plan to stay.

[avikz]

That's really funny! $20 worth of bitcoins in 2011 could have made the holder a millionaire today. But pessimism kicked in and the opportunity is lost. I remember I have done the same thing with ETH because I actually had a chance to buy ETH at $3. But I was skeptical about its future and didn't buy. I could have become a millionaire by now based on the investable surplus I had back in that time. Bow trying to correct that mistake by buying at every dip for longer time, probably for my retirement. 

[Cookdata]

Link from the source is either broken or removed, couldn't dig it from here.

I saw that image on Twitter yesterday but I'm not sure if your source was from Twitter: https://twitter.com/lopp/status/1537126860911480832

I have queried the search button to see the profile on bitcointalk but it wasn't found, was the profile deleted?

There is also a post like this in the german local forum, wehre somebody is very disappointed that BTC is again at 10 € and is wondering if it will ever go up again.

What happened to all those users, all are inactive, they look just like regular users who created accounts back then and never visit again.


Bitcoin has been in existence since 2009, any child born from that year to now will be a teen by now, those who are panicking here and there because of small FUD will come back again when they grow old and will bite their tongue for running because of inflation that has been in existence before the world war.

[TheNineClub]

Am not sure but from the tone of this post i think it was made during times like this. i stumble across this very inspiring piece of btc post from the telegram channel i follow so i thought to share it here to inspire some of us who are thinking the worst because of the blood bath. More than 10 years since this post was made here in this forum, i hope the @op bought back his btc otherwise........ won't comment any further
Link from the source is either broken or removed, couldn't dig it from here.



Do share your beautiful thoughts.  

This is just one sixe of the coin (pun intended)
 BTC was never conceptualised to be what is is today, at least what investors are trying to make of it. It's not all about making a profit, it never was. The bigger picture is BTC pushing the boundaries of what is money and curency without it being attached to standard money controling organisations. And how all of that could benefit our future.

[okorieemmanuel]

Am not sure but from the tone of this post i think it was made during times like this. i stumble across this very inspiring piece of btc post from the telegram channel i follow so i thought to share it here to inspire some of us who are thinking the worst because of the blood bath. More than 10 years since this post was made here in this forum, i hope the @op bought back his btc otherwise........ won't comment any further
Link from the source is either broken or removed, couldn't dig it from here.



Do share your beautiful thoughts.  

This is just one sixe of the coin (pun intended)
 BTC was never conceptualised to be what is is today, at least what investors are trying to make of it. It's not all about making a profit, it never was. The bigger picture is BTC pushing the boundaries of what is money and curency without it being attached to standard money controling organisations. And how all of that could benefit our future.

True...  Bitcoin level of uncertainty could benefit our future. Who knows? Bitcoin could hit $80,000 after this mayhem is over.

[skarais]

That's really funny! $20 worth of bitcoins in 2011 could have made the holder a millionaire today. But pessimism kicked in and the opportunity is lost.

Who can predict the future that the bitcoin price of $20 in 2011 will be $69K in 2021? That's not funny in my opinion, but they have concerns that prices will drop further so buying back post dumps is hard for them to do. Only those lucky enough with good finances who dare to buy in bulk and keep it in the long term, they are the winners.

Feeling pessimistic in a highly volatile market seems reasonable while bitcoin is a freely traded asset. This allows the price to rise uncontrollably and fall in the same way as well. But at that time bitcoin didn't seem to be widely known so people were still hesitant to buy and hold it long term even though $20 today looks very cheap for bitcoin. Maybe $20K today will also be considered very cheap if in 10 years the price of bitcoin is trading at $1M.

[DapanasFruit]

In the face of this very deep DIP, those who are really serious with Bitcoin should always look for the long-term. Admittedly, that can't be an easy thing to do for holders who just like me can be small and may not be financially stable. As for the big holders and the whales, I think they can do whatever they want and many may continue on holding on waiting for the time when the tide can be reversed...and it will really have its own time again as this is always a question of WHEN and not of IF. Good to see and read an inspiring post like above reminding us of the colorful history of Bitcoin and why holding on is the right thing to do.

[MMysterious]

Early bitcoin prospective was difficult. It requires grit to invest into something new. We cannot blame those early investors that sold their bitcoins because of the uncertainty. Those that continued to hold longer in years were rewarded handsomely.

I am a believer in bitcoin but I am also aware on rumors about the likelihood of quantum computers. Is bitcoin really vulnerable to quantum computers? How long before quantum computers exist?   

[Smartvirus]

If we look at what OP have said, posts like this tends to come up in times like this (bearish market) and this one dates back as far as 10years ago and somehow, it tends to make meaning in our present time. This is in agreement with what Lucius have stated as, it goes into history and people are expected to learn from these events of history. I dontvsee reasons why people might prefer fiat to bitcoin if you ask me. Yeah, some might look at it as a commodity to dispenser and something that could just go off at some point but, the history of today has made us understand that, that's hardly the case with bitcoin.

Fiat might save value but, it becomes of no use, swapping your bitcoin for fiat whne the market is at its low already. Doing that at the beginning of the bear market might be a wise choice with the intention of buying from the dip but, not whe the market has formed this dip already.

[amishmanish]

Only those people are selling who invested in bitcoin as a gamble, or who were completely dependent on bitcoin for their income or who are not looking in  real long term prospective. Yes whales are actually routing the funds towards their sponsored stable coins. But these stable coins again will become indirectly controlled by the fiat owners behind. However in future only whales will benefit and we all will be mere users of stable coins

[hatshepsut93]

I wouldn't assume that the crash was largely caused by panicking newbies. I'd say it was more likely done by whales and pro traders who saw the stock market crash and decided to pull their money out of Bitcoin too, because it was already in bear market and stock market downsides have correlated with Bitcoin downsides in the past.

[Anonylz]

I wouldn't assume that the crash was largely caused by panicking newbies. I'd say it was more likely done by whales and pro traders who saw the stock market crash and decided to pull their money out of Bitcoin too, because it was already in bear market and stock market downsides have correlated with Bitcoin downsides in the past.

By pulling their money back and letting the price crash even further means they will buy back at a much cheaper rate at the bottom! It really doesn't make sense why they will pull out their funds just because of the stock market crash, btc is supposed to be the go-to asset when others like stock are crumbling.
Although I kind of see understand clearly now, if not whales pulling out their money to crash the price further down newbie panic sell is not enough to bring the price down this much.

[CryptoHeadlineNews]

I stumble across this very inspiring piece of btc post from the telegram channel i follow so i thought to share it here to inspire some of us who are thinking the worst because of the blood bath.

Yeah.. It is the human nature to be scared sometimes, and moreover when it comes to life savings, most people are extremely off thinking when they are placed in such pressure, because the fall in the price of BTC above 15% to 20% is enough to put people into panic (especially people buying for the very first time) and has urgent needs for money. So selling a coin because it falls is not a bad idea, but not buying again when you have the chance is the problem

[KaliLinux]

Am not sure but from the tone of this post i think it was made during times like this. i stumble across this very inspiring piece of btc post from the telegram channel i follow so i thought to share it here to inspire some of us who are thinking the worst because of the blood bath. More than 10 years since this post was made here in this forum, i hope the @op bought back his btc otherwise........ won't comment any further
Link from the source is either broken or removed, couldn't dig it from here.



Do share your beautiful thoughts.  

I could understand why the OP of that post might feel that way, think about it, even now Bitcoin could still be considered a new thing talk less of 2011. However, It is a surprise that even up till now with the history of Bitcoins evolution some investors still think during a bear market season like this Bitcoin might not be able to recover and all you hear is fear.

[franky1]

More than 10 years since this post was made here in this forum, i hope the @op bought back his btc otherwise........ won't comment any further
Link from the source is either broken or removed, couldn't dig it from here.

https://bitcointalk.org/index.php?topic=27348.msg344344#msg344344

This is why I have liquidated my position in Bitcoins.  There is very little upside going forward.  No forward moves of late have any traction whatsoever and demand continues to lag.  Way too little upside for such a risky proposition so my advice is to move into dollars.  Only a significant change in the economy could alter this forecast.

https://bitcointalk.org/index.php?action=profile;u=26176
Last Active:    November 19, 2011, 03:49:30 AM