I give up

[Cluster2k]

It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout.  I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"  I've been spending my time reading the forums and hoping.  My friends called me crazy when I told them it's a sure thing.  The shame is just as bad as the lost money.  So I quit.  You guys win.  Coins sold. 

It could have been a really bad decision to sell now after the fall, or a great one.  Past performance is not an indicator of the future in many investments, and bitcoin does not break the rules despite what many people want to believe.

The concerning thing about bitcoin is the number of people who believe that increasing bitcoin value versus just about every other asset class is inevitable and assured because of the mathematics involved.  If too many people believe this bitcoin will collapse.  Why?  Because if most people believe bitcoin will continue to rise in value against other assets it becomes a stupid act to spend on services or even trade one for another asset.

[Simakki]

OP must be some kind of retard, why even bother to invest something labeled "risky" and then after just couple of months make a panic sell.

[Elwar]

It must be hard after all the time you put into getting Bitcoin's use more widespread.

[culexevilman]

It must be hard after all the time you put into getting Bitcoin's use more widespread.

GL OP, see you in one year, revisit this thread and lets see.

[nostdal.org]

Thanks for selling. I'm buying at these levels ($350 <--> $450).

[Swordsoffreedom]

It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout.  I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"  I've been spending my time reading the forums and hoping.  My friends called me crazy when I told them it's a sure thing.  The shame is just as bad as the lost money.  So I quit.  You guys win.  Coins sold.  

I look forward to waiting a few months and seeing how off you were
With Bitcoins you hold for the longest time
http://www.youtube.com/watch?v=NG1qooBzE2w

[alex0909]

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived

Truth is, you need at least two bubbles to stop caring about the price.

[Swordsoffreedom]

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived

Truth is, you need at least two bubbles to stop caring about the price.

Pretty much this
Seen two to three bubbles already myself actually think this is a long one more or less but after a few of these you don't worry as much about it
Although a high entry price relative to actual can make people feel that despair even if they made a logical choice
http://www.youtube.com/watch?v=yc6Hp_Zq3rU

[TERA]

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived

Truth is, you need at least two bubbles to stop caring about the price.

Pretty much this
Seen two to three bubbles already myself actually think this is a long one more or less but after a few of these you don't worry as much about it
Although a high entry price relative to actual can make people feel that despair even if they made a logical choice
http://www.youtube.com/watch?v=yc6Hp_Zq3rU

So the logic here is because that because a rally occured at a certain point of emotion in the past, it going to occur at the same point again in the future? Is it like groundhogs day and we just keep repeating the same thing over and over?

[Swordsoffreedom]

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived

Truth is, you need at least two bubbles to stop caring about the price.

Pretty much this
Seen two to three bubbles already myself actually think this is a long one more or less but after a few of these you don't worry as much about it
Although a high entry price relative to actual can make people feel that despair even if they made a logical choice
http://www.youtube.com/watch?v=yc6Hp_Zq3rU

So the logic here is because that because a rally occured at a certain point of emotion in the past, it going to occur at the same point again in the future? Is it like groundhogs day and we just keep repeating the same thing over and over?

Well I am responding with videos so I guess I'll put it back here
We got that price going back from the old rate
Just check the chart at the beginning and think about it this is one year ago do you really think its just emotion or if their is something else there
http://www.youtube.com/watch?v=pID03RrmKow

[TERA]

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived

Truth is, you need at least two bubbles to stop caring about the price.

Pretty much this
Seen two to three bubbles already myself actually think this is a long one more or less but after a few of these you don't worry as much about it
Although a high entry price relative to actual can make people feel that despair even if they made a logical choice
http://www.youtube.com/watch?v=yc6Hp_Zq3rU

So the logic here is because that because a rally occured at a certain point of emotion in the past, it going to occur at the same point again in the future? Is it like groundhogs day and we just keep repeating the same thing over and over?

Well I am responding with videos so I guess I'll put it back here
We got that price going back from the old rate
Just check the chart at the beginning and think about it this is one year ago do you really think its just emotion or if their is something else there
http://www.youtube.com/watch?v=pID03RrmKow

I don't understand. I see a quick zip through a chart and then a music video. Was there supposed be some TA somewhere?

[Swordsoffreedom]

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived

Truth is, you need at least two bubbles to stop caring about the price.

Pretty much this
Seen two to three bubbles already myself actually think this is a long one more or less but after a few of these you don't worry as much about it
Although a high entry price relative to actual can make people feel that despair even if they made a logical choice
http://www.youtube.com/watch?v=yc6Hp_Zq3rU

So the logic here is because that because a rally occured at a certain point of emotion in the past, it going to occur at the same point again in the future? Is it like groundhogs day and we just keep repeating the same thing over and over?

Well I am responding with videos so I guess I'll put it back here
We got that price going back from the old rate
Just check the chart at the beginning and think about it this is one year ago do you really think its just emotion or if their is something else there
http://www.youtube.com/watch?v=pID03RrmKow

I don't understand. I see a quick zip through a chart and then a music video. Was there supposed be some TA somewhere?

Did you check the price at the start of that video and the amount of days that passed by
It changes a lot in a few months
Were talking about the 1-30 dollar range last year
Price history not even TA
http://www.youtube.com/watch?v=jq57BjBVq7o (Although I might just be having a bit of fun with Zhou Tonged )

So basically were standing here having a conversation about why Bitcoins are too cheap at 500 dollars compared to 900 dollars one year from the date when it was only at 90 dollars and asking why it is doomed to fail now
http://bitcoincharts.com/charts/bitstampUSD#rg360ztgSzm1g10zm2g25zv

Just find the defense position a bit funny here
YTD is still 550% lol.

Basically same story with the Litecoinguy

I remember a guy who bought a big bunch of Litecoins at 6$, he bought around 10k of them with money he could not afford to lose.

When litecoin hit the bottom, at that time it was 2$. He was full of despair and wanted to take his loss.
I have no idea if that guy sold or not, he was advised not to sell.

Three weeks later, November arrived so three months is nothing.

[WillShill4BTC]

op, dude, ffs obvious nsa is obvious. get your shit together

[trumbadera]

-50%, well in such short time as few months, anything can happen. You may check Bitcoin price history graphs, even worse dips happened in such short time before

[piramida]

well it will go back up but i don't see it  ever going anywhere over $1000 ever again.

ahaha ok thanks for the laugh. no really, you are funny. you are about as short-sighted as OP have you ever planned and executed anything with a timeframe longer than 15 seconds?

[toknormal]

It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout.  I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"  I've been spending my time reading the forums and hoping.  My friends called me crazy when I told them it's a sure thing.  The shame is just as bad as the lost money.  So I quit.  You guys win.  Coins sold. 

You should not have sold. Buy them back immediately. If it's still at this level at the end of 2015 then consider it.

At least wait till the Winklevoss Bitcoin ETF has floated on the stock exchange (probably around the end of the year / early next year). Here's a couple of hard facts for you:

[1] - cryptocurrency technology can not be un-unvented. It's here to stay and will only grow. eMail took 10 years to really proliferate into widespread use. You are far too impatient.

[2] - Bitcoin is not being replaced. Despite a flotilla of "Alts" storming onto the scene over the last few months, not one single one has even made a dent in Bitcoin's supremacy. Even Litecoin retains its status. The hashpower of the Bitcoin network is now immense, it's only consolidating.

[pinksheep]

I know exactly how Veronica feels; it seems everything I touch ends in disaster, but unlike her, I'm holding on to the bitter end. I too have maybe invested more than is sensible but not enough to prevent me paying day to day bills. I would never go that far. I think it would feel much worse to see the price at $10k or maybe a lot more & know you'd missed out on a fortune than to lose your original investment. The downside is limited but the upside is not. Nothing else that I know of seems to have the potential that bitcoin does.

[MatTheCat]

It seems every time I find something that looks promising, I'm just a sucker waiting to give someone else a payout.  I have been following advice a gentleman offered to "hodl" my bitcoin, from $984 all the way down to now $436.  I've just been fooling myself, telling myself "Don't worry hon, it will go back up! It always has!"  I've been spending my time reading the forums and hoping.  My friends called me crazy when I told them it's a sure thing.  The shame is just as bad as the lost money.  So I quit.  You guys win.  Coins sold.  

You are clearly feeling gut wrenchingly sick.

Back when Bitcoin was up at $1000 and I was actually making money trading it, I always felt as though I was doing something very wrong (morally wrong), and this is exactly what it was. If a clown like me could be making money in Bitcoin, it is only because a whole of other people are losing. Bitcoin is a nasty pernicious and highly manipulated market full of dumb money. No offence but dumb money means you, most certainly your 'hodling' gentleman friend, and when it comes down to it, me as well (most twitchy and reactionary shit trader ever).

As regrettable a position as you find yourself in having taken a 50% + haircut on a trade, you have probably done the right thing, albeit probably only just. The intermediate bottom is not in yet, but I think that the next floor Bitcoin finds will be it. I reckon if you have your capital lined up in buy-in tranches from mid $200s up to $300, then you have a good chance of taking a bite at the next bottom, and a good chance of recovering much of your lost funds. If things go very wrong however, and the bottom turns out to be much lower than this (which it might) and their is no momentous rebound to speak off, but months of apathetic trading (think of masses of jaded Bitcoin investors feeling just like how you feel), you should at least get the chance to take your money back, if not take a small profit. Knowing when to leave the market however, is going to require that you stop listening to Bitcoin Nutters and start tuning in to traders or tech analysis guys who are a bit more on the money. There are quite a few of them around......just not too many that come on this forum.......'arepo' (on this forum) seems to be quite good....but going by the thread started by his subscribers, possibly dead, or in prison.

In fact, this forum is one of the very worst places to for your mind to be if you are trading Bitcoin. Even if you are wise enough to disagree with and reject the Kool-Aid that is splashed around here in copious volumes, you may find yourself 'rejecting it too much' and taking lines of thinking or opinion on Bitcoin that you would have never taken if not for having come in contact with the Bitcoin Nutter. The Bitcoin Nutter is a dangerous animal and should never be approached.

[Bitcoin BEAR]

Sounds like the start of capitulation

[sgbett]

well it will go back up but i don't see it  ever going anywhere over $1000 ever again.

ahaha ok thanks for the laugh. no really, you are funny. you are about as short-sighted as OP have you ever planned and executed anything with a timeframe longer than 15 seconds?

Why sir, that is outrageous I .... ooh shiny!!!