FUD Has Finally Taken Its Toll on Me

[kryptqnick]

I don't see the current situation as different in any major aspects from 2018. So op, if you've been around since 2017, you've already seen how low Bitcoin fell and how unsure many were that it will ever recover, and yet it did and the current bottom is 2017's ATH point. The environmental argument isn't sound, so I don't think it will actually lead to big international policy changes. The impact will be investigated, and the authorities will figure out that it's not as bad as they thought it was. Bitcoin will most likely recover from the current fall, just like it did before. But if you're unsure about investing, it's a smart decision not to invest, as it always poses some risk.

[2stout]

Ultimately you have to do what's best for you and your needs, but if possible, I would say to hodl on until the next bull market if you can.  If you look at the historical charts, what we are experiencing now is cyclic and nothing new.

[blue_hurricanger]

The younger and more 'progressive' politicians got their seat in EU, I think they are more tolerant and open to crypto than the old guard camp, tho. I mean have you seen how a lot of new faces and young politicians try to get votes from zoomers by saying yes man to anything that seems popular around the internet. BTC takes a lot of power to mine a block but overall, they ain't worth to upsetting a bunch of zoomers on the crypto space and the boomers and the millennials. Thing change and the green movement around the world also have to re-adjust its goal as you must have seen Nuclear Plant now being considered green energy. So your worry might a bit over the top.

[goldkingcoiner]

Three weeks ago, I liquidated 10k from my stock portfolio into my bank account. My plan was to dump it into Bitcoin as soon as it dipped under 17k. But now, for the first time since I got into crypto investing in 2017, I'm having major doubts.

I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.

For example, the EU recently held a vote to ban proof-of-work mining across member nations*. Thankfully, the vote failed, but this wasn't the first time they attempted it, and I don't think it'll be the last. Eventually, as younger and more 'progressive' individuals enter positions of political power in Europe, my guess is that they'll succeed. And, once they do, the other chimpanzees in countries around the world will follow them, potentially causing the demise of our beloved cryptocurrency.

Thoughts?

 
* https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/

*sigh*

Oh buddy, you really screwed yourself over with this. I understand that investing in something as volatile and new as crypto is a scary game. We all went through those same fears until we grew experienced enough to understand the potential of Bitcoin.

What you did was give the whales your coins at a very cheap price. They are going to be very happy when those coins triple, quadruple in their value within a relatively short time frame.

Instead of letting yourself get spooked you should have just invested and walked away for a few years instead of letting yourself fall into doubt.

[teosanru]

Three weeks ago, I liquidated 10k from my stock portfolio into my bank account. My plan was to dump it into Bitcoin as soon as it dipped under 17k. But now, for the first time since I got into crypto investing in 2017, I'm having major doubts.

I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.

For example, the EU recently held a vote to ban proof-of-work mining across member nations*. Thankfully, the vote failed, but this wasn't the first time they attempted it, and I don't think it'll be the last. Eventually, as younger and more 'progressive' individuals enter positions of political power in Europe, my guess is that they'll succeed. And, once they do, the other chimpanzees in countries around the world will follow them, potentially causing the demise of our beloved cryptocurrency.

Thoughts?

 
* https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/

One thing you should keep in mind is even if bitcoin isn't successful Cryptocurrencies as a whole are here to stay for sure. So the only way out of the problem you are in is to diversify into different Cryptocurrencies, if you are doubtful about pow, keep some money into POS. Just make sure even if one of them hits the moon it'll cover your losses in rest all of them. Practice the exactly same thing which you were doing for your stock portfolios.

[virasisog]

Ultimately you have to do what's best for you and your needs, but if possible, I would say to hold on until the next bull market if you can.  If you look at the historical charts, what we are experiencing now is cyclic and nothing new.

We often come through this feeling of doubtfulness and fear towards Bitcoin mostly during the bear season but it's something that we should face and we have to get through this. If you aren't comfortable holding them you could let go but think of the risk of letting go of your investments when the market recovers. You should question yourself if you can also handle the possible regrets that you might face when the price of Bitcoin strikes high in the future. Sometimes some instances will test your faith in crypto.

[dragonvslinux]

I don't think waiting on the sidelines is the worst scenario to be in right now, it seems like many are in the same boat as well. Sure you didn't manage to get Bitcoin at $18K, but for all we know price can drop to $12K very soon. As long as you're a willing buyer if price get's back above $25K (200WMA as well realized price), where we could see a considerable move to the upside, then you're really not missing much imo.

It's much better to try and buy a confirmation of a trend reversal than catching a falling knife generally speaking, if you're not dollar cost averaging into a dip that is. Just my opinion, but unless you've sold Bitcoin recently, then you don't have much to regret right now. If you still have your fiat waiting on the sidelines then it's a good position to be in for now. Just keep your eye on what happens next imo.

[BIT-BENDER]

Always lay out your thoughts and analysis it with the present, past and possible future happenings, many have this thoughts that their is no more gains in Bitcoin and now they want to focus more on Alt-coin but they are only Into bitcoin because it’s safe, this are their thoughts and if this has any influence on you without you seeing it from your own perspective it can lead you to acting out negatively. FUD is continuous and so is doubt, but after I have done my own research and analysis I see bitcoin as part of the present and future.

[OgNasty]

Thoughts?

I think your feelings are normal in a bear market.  Especially as we get close to the lows.  I think you should take this time to rethink why you got involved with Bitcoin and what your expectations are going forward.  Taking a realistic approach and buying over time with amounts you are comfortable with will make you proud of your stash instead of fearful of what will happen.  You don't need to take an all or nothing approach.  Do what you think is best, but put a lot of thought into what you do.

[eaLiTy]

~
I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.
 

Looks familiar as we get these FUD whenever there is a market correction, go through the archives in this forum and you will see many RIP eulogy in this forum how BTCitcoin is dead and will never rally again and we see these fear mongers all the time. If you trust the decentralized market there is nothing to worry as it will move on year in and year out even with all these FUD.

[BitcoinPanther]

Three weeks ago, I liquidated 10k from my stock portfolio into my bank account. My plan was to dump it into Bitcoin as soon as it dipped under 17k. But now, for the first time since I got into crypto investing in 2017, I'm having major doubts.

If you have doubt then don't invest.  Just do what your intuition tells you.  If you wanted to be convinced, let your research do the convincing for you.  Just look at the history of Bitcoin specifically the economic side.  It will tell you everything about ups and downs of Bitcoin.

I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.

For example, the EU recently held a vote to ban proof-of-work mining across member nations*. Thankfully, the vote failed, but this wasn't the first time they attempted it, and I don't think it'll be the last. Eventually, as younger and more 'progressive' individuals enter positions of political power in Europe, my guess is that they'll succeed. And, once they do, the other chimpanzees in countries around the world will follow them, potentially causing the demise of our beloved cryptocurrency.

Thoughts?

If younger and more progressive individual enter position in Europe's politics, I think it will be a great sign because younger people are more open minded to the current technical revolutions than the older ones.  Besides, if ever Europe shuts it doors to crypto mining, miners will definitely move to another part of the world where mining is legal.  Just know that even if there is some country  in hostile stance against Bitcoin,   there are also countries that welcomes it with open arms.

[Oilacris]

~
I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.
 

Looks familiar as we get these FUD whenever there is a market correction, go through the archives in this forum and you will see many RIP eulogy in this forum how BTCitcoin is dead and will never rally again and we see these fear mongers all the time. If you trust the decentralized market there is nothing to worry as it will move on year in and year out even with all these FUD.

Speaking about bitcoin is dead kind of headline or something those claims or sentiments from different gurus and so called professionals
then we could have a good read for some reference on this one.
https://99bitcoins.com/bitcoin-obituaries/

Bitcoin has died 461 times

Then hearing up something like this with these lose of fuds in the market then as an investor or supporter of bitcoin then it would be better if he get used to it because
thats how these things circles around on this forum or entire crypto space specially on a bear market.You would see lots of those scenarios
and events which could potentially make you panic.

[Furious 7]

But in this case I actually still have other beliefs in myself.
I saw the OP had registered his account in 2018 and obviously it was several years ago and of course the OP already knew about bitcoin and Crypto so created an account here.
It would be very strange if the OP liquidated all the money he has now because if he wanted the OP could actually liquidate it in 2018 which clearly bitcoin was still very cheap at that time.
But indeed there may be other calculations from the OP and this is just my wild thought.

[AmoreJaz]

~
I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.
  

Looks familiar as we get these FUD whenever there is a market correction, go through the archives in this forum and you will see many RIP eulogy in this forum how BTCitcoin is dead and will never rally again and we see these fear mongers all the time. If you trust the decentralized market there is nothing to worry as it will move on year in and year out even with all these FUD.

we've seen, heard this many times over. and yet, here we are, bitcoin is still holding its ground. we can't avoid some people having negative thoughts towards the btc market, because it depends on how they feel towards this market. also, if they feel they are on the losing side, they will more then likely give negative thoughts on what's happening.

[serjent05]

I don't think waiting on the sidelines is the worst scenario to be in right now, it seems like many are in the same boat as well. Sure you didn't manage to get Bitcoin at $18K, but for all we know price can drop to $12K very soon. As long as you're a willing buyer if price get's back above $25K (200WMA as well realized price), where we could see a considerable move to the upside, then you're really not missing much imo.

While I do think that waiting on the sidelines is the worst scenario right now if later when Bitcoin surges I buy and invest in Bitcoin.  I could have entirely missed a discounted sales of BTC.  So I think if anyone has a plan to buy BTC, the current bear market is the best scenario to get in.

It's much better to try and buy a confirmation of a trend reversal than catching a falling knife generally speaking, if you're not dollar cost averaging into a dip that is. Just my opinion, but unless you've sold Bitcoin recently, then you don't have much to regret right now. If you still have your fiat waiting on the sidelines then it's a good position to be in for now. Just keep your eye on what happens next imo.

Well, many newbies don't know TA's and signals so it is kinda hard for them to read the chart, would be better to explain it in layman's terms and advise them to DCA every time the price of Bitcoin goes dipper.  We can call it accumulation stuff.


Anyway, @OP, if you are still in doubt, you can just wait on the sideline to see how things develop but make sure you don't regret anything later.  Risk always accompanies investment but you can mitigate it by studying and researching the market.  You can dig more and study the Bitcoin market if you don't want to regret your action later, just make sure you won't listen to everyone easily before confirming them.

[Crypto Bull]

I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.

This indicates that we are in the capitulation phase. It's not the only message of this style that I've seen recently, so it's a good time to buy, when people are throwing in the towel.

Actually, the low Bitcoin price had nothing to do with my FUD. If anything, it actually created FOMO in me. That's why I immediately bought 2k worth of BTC, and then sold 10k worth of stocks (at a multi-year low price, I might add), and was waiting to dump it into Bitcoin, once it went down to at least 17k.

What triggered my FUD was the news of the EU voting to ban proof-of-work.

I never act with the crowd. I'm a contrarian, who likes to buy when there's 'blood running in the streets'.

[Crypto Bull]

The younger and more 'progressive' politicians got their seat in EU, I think they are more tolerant and open to crypto than the old guard camp

True, but their 'climate' agenda trumps their sympathy for cryptocurrency.

[Crypto Bull]

Three weeks ago, I liquidated 10k from my stock portfolio into my bank account. My plan was to dump it into Bitcoin as soon as it dipped under 17k. But now, for the first time since I got into crypto investing in 2017, I'm having major doubts.

I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.

For example, the EU recently held a vote to ban proof-of-work mining across member nations*. Thankfully, the vote failed, but this wasn't the first time they attempted it, and I don't think it'll be the last. Eventually, as younger and more 'progressive' individuals enter positions of political power in Europe, my guess is that they'll succeed. And, once they do, the other chimpanzees in countries around the world will follow them, potentially causing the demise of our beloved cryptocurrency.

Thoughts?

 
* https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/

*sigh*

Oh buddy, you really screwed yourself over with this. I understand that investing in something as volatile and new as crypto is a scary game. We all went through those same fears until we grew experienced enough to understand the potential of Bitcoin.

What you did was give the whales your coins at a very cheap price. They are going to be very happy when those coins triple, quadruple in their value within a relatively short time frame.

Instead of letting yourself get spooked you should have just invested and walked away for a few years instead of letting yourself fall into doubt.

I'm afraid you misunderstood my post. I never sold any Bitcoin. I just hesitated to buy more.

[Crypto Bull]

Three weeks ago, I liquidated 10k from my stock portfolio into my bank account. My plan was to dump it into Bitcoin as soon as it dipped under 17k. But now, for the first time since I got into crypto investing in 2017, I'm having major doubts.

I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.

For example, the EU recently held a vote to ban proof-of-work mining across member nations*. Thankfully, the vote failed, but this wasn't the first time they attempted it, and I don't think it'll be the last. Eventually, as younger and more 'progressive' individuals enter positions of political power in Europe, my guess is that they'll succeed. And, once they do, the other chimpanzees in countries around the world will follow them, potentially causing the demise of our beloved cryptocurrency.

Thoughts?

 
* https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/

One thing you should keep in mind is even if bitcoin isn't successful Cryptocurrencies as a whole are here to stay for sure. So the only way out of the problem you are in is to diversify into different Cryptocurrencies, if you are doubtful about pow, keep some money into POS. Just make sure even if one of them hits the moon it'll cover your losses in rest all of them. Practice the exactly same thing which you were doing for your stock portfolios.

And that's exactly what I've been doing since June of 2017. In fact, I hold over 50 different cryptocurrencies atm. Most of them tanked. So, I'm reluctant to buy more (except maybe Bitcoin). I got tired of hearing hype about every new coin, only to watch it fade into obscurity, and be replaced by another coin.

[Crypto Bull]

I don't think waiting on the sidelines is the worst scenario to be in right now, it seems like many are in the same boat as well. Sure you didn't manage to get Bitcoin at $18K, but for all we know price can drop to $12K very soon. As long as you're a willing buyer if price get's back above $25K (200WMA as well realized price), where we could see a considerable move to the upside, then you're really not missing much imo.

It's much better to try and buy a confirmation of a trend reversal than catching a falling knife generally speaking, if you're not dollar cost averaging into a dip that is. Just my opinion, but unless you've sold Bitcoin recently, then you don't have much to regret right now. If you still have your fiat waiting on the sidelines then it's a good position to be in for now. Just keep your eye on what happens next imo.

I actually bought 2k of Bitcoin (at around 19k and 18k) a few weeks ago. I didn't have more liquid cash on hand, so I dipped into my stock portfolio, and liquidated 10k. So, I'm now waiting for another chance to buy, but I think the price is high right now, at over 20k, so I'll take my chances and wait.