..

[Devin Chow]

..

[1715122406]

1715122406

[Painful Truth]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

We don't know if the drop is over. But panic selling at these levels is very dangerous. It just crossed 550 again.

[Razick]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

I kept everything and bought more. My only regret is that I didn't wake up until the price had rebounded to $540. I think we'll be seeing lower prices before we start moving up again (over the next few days.)

[maker88]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

I kept everything and bought more. My only regret is that I didn't wake up until the price had rebounded to $540. I think we'll be seeing lower prices before we start moving up again (over the next few days.)

Devin I take back everything I said about you not being insightful, razick I'm in the same boat, also I'd really like to get my paycheck to put into coin while its cheap but don't get paid for 2 days! Noooo! Better stay down for a few days so I can grab more.

[Capt Drake]

I think the downhill is no over, the short trend is going down. The price recovered to 550 and I think it will be at 580 before another drop to around 510.

[Torque]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

We don't know if the drop is over. But panic selling at these levels can be very dangerous. It just crossed 550 again.

Rule #1: Never panic sell.

Rule #2: Never panic buy.

Rule #3: Hodl.

[bananaControl]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

+1

Nothing more to say really. Bitcoin is in no way ready for the mainstream yet, the technology isn't there and it's still way to volatile for most people. This is also why we haven't even reached the "early adopters" stage yet.

[InwardContour]

I just hold my coins and see people panic buy/sell losing their stakes, holding is the easiest solution to earn money without doing anything

[Razick]

I think the downhill is no over, the short trend is going down. The price recovered to 550 and I think it will be at 580 before another drop to around 510.

I think we will see ~$500 for a few minutes, but that's probably the lowest we'll get.

[lihuajkl]

I think the downhill is no over, the short trend is going down. The price recovered to 550 and I think it will be at 580 before another drop to around 510.

For the one who believe BTC's potential he will be happy to see the price drop down. He thinks it is a good time to buy.

[spazzdla]

Panic selling.. I was about to panic buy.. /am going to.

I want 100 more PPC, I like how bloody small the chain is also a small amount of constant inflation. 

Then some BTC not sure how much.

[Capt Drake]

I think the downhill is no over, the short trend is going down. The price recovered to 550 and I think it will be at 580 before another drop to around 510.

For the one who believe BTC's potential he will be happy to see the price drop down. He thinks it is a good time to buy.

And I think this drop was premeditaded. The guys from secondmarket dumped a big chunk of coins these days, they know something that we don't

[JimboToronto]

For the one who believe BTC's potential he will be happy to see the price drop down. He thinks it is a good time to buy.

Any time is a good time to buy.

Some days are better than others. Today is one of those days.

[spazzdla]

Panic selling.. I was about to panic buy.. /am going to.

I want 100 more PPC, I like how bloody small the chain is also a small amount of constant inflation. 

Then some BTC not sure how much.

I see no potential whatsoever in things like PPC. Well, nothing beyond a short term price gain. Long term real value? Only BTC wins that award.

Alts are all pump-and-dumps. Every single one of them.

When BTC's block chain is 5 TB.. there will be a BBBBIG problem..

[Argwai96]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

This type of rhetoric doesn't help anyone. I would say that if you're selling, you should be selling with limit orders at resistances. Not panic selling into what are usually supports.

[BTCfan1]

[Alley]

Shouldn't the auction bidders that didn't win be buying big at this price?  Probly getting close to what they bid.

[deepestfear]

Almost certain that Draper is out of the money presently on his entry price though likely not by much

[maker88]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

I kept everything and bought more. My only regret is that I didn't wake up until the price had rebounded to $540. I think we'll be seeing lower prices before we start moving up again (over the next few days.)

Devin I take back everything I said about you not being insightful, razick I'm in the same boat, also I'd really like to get my paycheck to put into coin while its cheap but don't get paid for 2 days! Noooo! Better stay down for a few days so I can grab more.

When did you say I wasn't insightful?
[/quote
It was months ago, you were trolling for days, I was annoyed,  you called me autistic or something as a response, either way, proved me wrong so touché

[maker88]

Panic selling.. I was about to panic buy.. /am going to.

I want 100 more PPC, I like how bloody small the chain is also a small amount of constant inflation. 

Then some BTC not sure how much.

I see no potential whatsoever in things like PPC. Well, nothing beyond a short term price gain. Long term real value? Only BTC wins that award.

Alts are all pump-and-dumps. Every single one of them.

+1. Fact.

[wachtwoord]

Shouldn't the auction bidders that didn't win be buying big at this price?  Probly getting close to what they bid.

Well, maybe they specifically wanted the FBI seized ones? Otherwise: Yes, unless their aim was only arbitrage.

[EricTyle]

Bitcoin is a vicious cycle.

It drops 20$, I panic and sell.

Then it goes up 20$, and I buy back.

Repeat.

[Apraksin]

I have no more fiat to buy for 

[galbros]

These price swings are par for the course now.  What surprised me was how stable bitcoin was for so long in the 600 to 580 range.  While I would have preferred a 50 USD move up over a 50 one down, it is no big surprise given the regulatory headwinds in the US right now.

[halfawake]

The only thing I'm bummed about is buying at $100 more than the current market price.  I still have faith that it'll go back up again, just don't have a clue when that'll be.  Should have traded my way into some more bitcoins on the way down, but oh well.  Next time.

[Newbie1022]

We'll get lower... perhaps even substantially so. I honestly don't understand this martyrdom kick that you have to take the full ride to the bottom to properly appreciate the gains. It will fall lower... it will also reach new ATHs in time. I don't think people are cowards for making moves in a volatile market... the only question is whether it is the right move and the right time. But, it is a market... you buy, sell, or hold with a view towards what you think the price is going to do.

[TheJuice]

life's always better just holding. I tried to sell in the 266 bubble. Never again.

Sell at predefined price points.

[Newbie1022]

life's always better just holding. I tried to sell in the 266 bubble. Never again.

Sell at predefined price points.

Predefined price points are always such a good idea. You don't want to make the decision in the moment. I agree with this.

[Tirapon]

Bitcoin is a vicious cycle.

It drops 20$, I panic and sell.

Then it goes up 20$, and I buy back.

Repeat.

Might want to revise your strategy there...

[halfawake]

We'll get lower... perhaps even substantially so. I honestly don't understand this martyrdom kick that you have to take the full ride to the bottom to properly appreciate the gains. It will fall lower... it will also reach new ATHs in time. I don't think people are cowards for making moves in a volatile market... the only question is whether it is the right move and the right time. But, it is a market... you buy, sell, or hold with a view towards what you think the price is going to do.

I saw an analysis for why the prices are dropping a while ago that I think makes perfect sense: it's summer.  People are taking money out of their bitcoin stash to pay for vacations.  Give it a few months and the price should go back up again.  The fundamental value proposition of bitcoin hasn't changed.  If you're worried, take a quick look at the price a year ago.

Or don't and I'll tell you what it was.  Around $80 - $90.  Still pessimistic?  Bitcoin is highly volatile, so I agree with the OP, if you have the stomach for strong drops, you can make money here.  If you don't, well, the rest of us will.

[moreia]

This happens at least once month and the pure reason that we aren't going anywhere is because of panic sellers.
If people stopped panic selling maybe we would actually see some gains over every month.
Faith drives prices high in the long run.

[jaberwock]

It is not panic sell, it is shorting to multiply mah bitcoins.

I want them all, just it.

[Justine]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

Good point.

In any case, there have been a lot of weak hand that bought recently and need to be shaken out by the correction.

[zhinkk]

$50 and people are panicking? That's amazing. Do not invest unless you are okay with your assets cutting in half one day and quadrupling the next few months.

[Newbie1022]

$50 and people are panicking? That's amazing. Do not invest unless you are okay with your assets cutting in half one day and quadrupling the next few months.

Yes, you have to be willing to lose half of your asset base if you are to make 4x that... WTF sort of nonsense is this. Chill out with the cult talk. Maybe, just maybe, you should lose say 10% of your asset base, buy cheap scooping up post another 40% loss, and make 380% back... that would be more profitable and all.

Like this is a Libertarian movement, but with collectivist martyrdom. It's super sketch. This is what scares away the regulars.

[maker88]

some people have sold when they should have held, you don't know its going to go lower you just think it will. some people have thought similar things before, only to be smacked by the reality that they missed their chance to buy back lower. such memories last, and develops a hold til death  or victory mentality. its not martyrdom, its just having the balls to weather the storm to see the sunshine.

[traderCJ]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

If you're so gung-ho about Bitcoin, liquidate everything you own and buy Bitcoin at market price.  Don't want to?  Then you're a coward. 

[Newbie1022]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

If you're so gung-ho about Bitcoin, liquidate everything you own and buy Bitcoin at market price.  Don't want to?  Then you're a coward. 

This. The only reason why anybody is calling people names is because they are sitting on longs and are about to be wiped out. Guess what... you did that to yourself. Bitcoin is awesome and will do great things. Is it worth this amount or that amount? Who the hell knows. Pick a price, make a bid or an ask, and see if your dog comes in. You don't see people trading stocks being like... you are all cowards because you didn't keep your stock in XYZ. You know why... because that's weird.

[Newbie1022]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

Bro, if you think this is such a good time to buy... why aren't you selling your house, your car, and all of your belongings? I don't see volume commensurate with such behavior so I am going to go ahead and call bull----... you are just sad you are holding a bag, aren't you?

[Benjig]

Well, trading alts is how you learn how to not be weak hand and sell in the first drop, alts can drop in value a 70% easily in one day and you lose almost all your investment, bitcoin dropping around 10% is nothing.

[Fray]

Then you shouldn't be buying Bitcoin in the first place.

Cowards.

If you're so gung-ho about Bitcoin, liquidate everything you own and buy Bitcoin at market price.  Don't want to?  Then you're a coward. 

This type of move would be crazy. Bitcoin will likely be successful over the long term but this is far from a sure thing. By putting all your eggs in one basket you are doing nothing more then gamble with your entire nest egg.

[Newbie1022]

If you're so gung-ho about Bitcoin, liquidate everything you own and buy Bitcoin at market price.  Don't want to?  Then you're a coward.  

Currently in the process, kind sir.

...and yeah, I'm serious.

Not that my personal finances are any of your fucking business.

Good... on the level... you rally enough people behind that notion then maybe you can turn the market. There aren't many whales on here, but enough mid-size players that if a bunch of you guys came together and called a bottom with your own money the market could turn.

[Newbie1022]

If you're so gung-ho about Bitcoin, liquidate everything you own and buy Bitcoin at market price.  Don't want to?  Then you're a coward.  

Currently in the process, kind sir.

...and yeah, I'm serious.

Not that my personal finances are any of your fucking business.

Good... on the level... you rally enough people behind that notion then maybe you can turn the market. There aren't many whales on here, but enough mid-size players that if a bunch of you guys came together and called a bottom with your own money the market could turn.

But people who invest otherwise are not scumbags nor should they be dissuaded from getting into the game. We need more people. The strong hands win... but if we only had strong hands, they wouldn't. Strong hands win the weak hands money. You should know that.

[Newbie1022]

Bro, if you think this is such a good time to buy... why aren't you selling your house, your car, and all of your belongings? I don't see volume commensurate with such behavior so I am going to go ahead and call bull----... you are just sad you are holding a bag, aren't you?

Bro? Are you an Indian hawker trying to sell me something on the street?

"Sup bro...you want nice suit, Bro? I got nice suit for you, Bro."

Wtf is it with guys from India, regardless of where in the world, calling me "Bro" when they are trying to sell me something on the street? Is "Bro" taught as a term of endearment in language schools in India or something? Fuck me these shitheads are annoying.

...just like you.

Let me get this straight. You see a correlation with my comment and selling EVERYTHING I own to buy BTC? You "bro" are a fucking moron.

I have faith in BTC. I have a lot of faith. The price WILL go up in time. That much I am certain. The problem is, I live in a world where I can't spend BTC as easily as fiat. So no, dipshit, I can't do what you propose. Not because I don't have faith...but because of logistics.

Is this the only way to "prove" that I have faith in BTC? By selling everything and buying all BTC?

Goddamnit, I should have stopped reading at "Bro" because you are a fucking retard.

Oh yea, and besides losing all of your money because you are incompetent... you are also a racist. I am white and an American... but you are still a bigot.

[Newbie1022]

Racist? Yeah, I'm racist because I disagree with the behavior of somebody with a different color skin than me.

You are just another white guy that never references race for fear of being labeled "a racist".

CO-WARD.

"Yeah, I'm a racist because I disagree with the behavior of somebody with a different color skin than me."

(A) That is, in fact, the definition of a racist;
(B) Behavior has nothing to do with skin color... it may have to do with culture and upbringing (clearly, you were raised by somebody very ignorant);
(C) I don't make references to race because they are illogical (and, also, I grew up in a multiethnic household)... there is no scientific basis for it nor is it something that occupies my thoughts next to ever; and
(D) You said you wouldn't go all in because of logistics... did you stop and think that maybe that's why some people (those with brains that function better than yours) didn't take the entire ride down... because they have to pay for things like rent and like to have things like savings.

You, sir, are genuinely stupid.

[Sevvero]

I think the downhill is no over, the short trend is going down. The price recovered to 550 and I think it will be at 580 before another drop to around 510.

For the one who believe BTC's potential he will be happy to see the price drop down. He thinks it is a good time to buy.

Not really, what you said there is really, really stupid.

Why the hell would you think it's good idea to buy in a downtrend? It's only a good idea to buy at reversal.

[CoinDiver]

Always buy. Going down. Going up. Always buy. Anything else and you'll lose money long term.

[Febo]

Depends where you live, but at some parts of world, with 50$ you can buy lots of water.

[traderCJ]

Bottom line, for the people in here to retire early on the back of a Bitcoin investment, you'd better pray for more "investors" like Devin Chow.

[keithers]

I think most of the people panic selling are the ones holding 1 BTC  or something like that.  Multiply that by a lot of people and there you go.   Most of the heavier holders are just scooping up more, or just sitting tight because they know this is temporary.

[Newbie1022]

Is this, "Pretend Not To Notice People's Race Day"??

http://www.animetoon.tv/family-guy-season-10-episode-6

Forward to 12:51

Reminds me of people like you. People that "don't see" race are the biggest racists ever.

Good luck. Hope you find what you are looking for in life.

[Possum577]

Is there any proof that anyone is panic selling? Maybe the selling is calculated, large volumes, and therefore pushing the price down as a result. The pops back up are people buying into the discounted price.

The first I heard of panic selling was from you...

[Argwai96]

Is there any proof that anyone is panic selling? Maybe the selling is calculated, large volumes, and therefore pushing the price down as a result. The pops back up are people buying into the discounted price.

The first I heard of panic selling was from you...

Someone dumped 5000 or so BTC on Bitfinex last night. The result was a margin call cascade. Since that drove price so far below the other exchanges, there wasn't much panic selling. But the panic may be yet to come.

[TrollinU]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

[btcracer1]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

Holders won't lose anything, they always have their bitcoins even if they are worth less in this period.

[TrollinU]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

Holders won't lose anything, they always have their bitcoins even if they are worth less in this period.

Losing net worth is still losing.
If you went on Newegg two days ago to purchase a PC and decided to wait 2 days, you would be paying 20% more BTC for it today. Don't try to tell me "well I wouldn't buy it and take the loss". Two things; A) There is no guarantee it will ever go back up, and B) Say that when you want to buy groceries to live.
I don't want to argue semantics here, but that is the most illogical argument to defend your cultist views. Don't you want to be different just like everyone else?

[messibtc]

Looking at the charts seems that the value will recover, the history is repeating another time and holders will have much more profits than traders.

[zedicus]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

I disagree that it is "much" bigger then 40-50. The price previously was in the mid 570-580 level and is trading around 511 now so the fall is closer to 70-80, but regardless of the amount it is still small when compared to other price drops of bitcoin in terms of percentages.

[TrollinU]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

I disagree that it is "much" bigger then 40-50. The price previously was in the mid 570-580 level and is trading around 511 now so the fall is closer to 70-80, but regardless of the amount it is still small when compared to other price drops of bitcoin in terms of percentages.

You are right, I thought OP started it around the $600 level. But there is more to come. This market is beaten down right now. The weakness is getting stronger

[wachtwoord]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

I disagree that it is "much" bigger then 40-50. The price previously was in the mid 570-580 level and is trading around 511 now so the fall is closer to 70-80, but regardless of the amount it is still small when compared to other price drops of bitcoin in terms of percentages.

You are right, I thought OP started it around the $600 level. But there is more to come. This market is beaten down right now. The weakness is getting stronger

Have you seen how the market is balanced right now? Bid walls close to the price are much higher than the sell walls in front of it. Of course walls can be removed and flash changes in Bitcoin value do occur, but don't you agree the market will move up with a much larger probability than that it will move down?

[TrollinU]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

I disagree that it is "much" bigger then 40-50. The price previously was in the mid 570-580 level and is trading around 511 now so the fall is closer to 70-80, but regardless of the amount it is still small when compared to other price drops of bitcoin in terms of percentages.

You are right, I thought OP started it around the $600 level. But there is more to come. This market is beaten down right now. The weakness is getting stronger

Have you seen how the market is balanced right now? Bid walls close to the price are much higher than the sell walls in front of it. Of course walls can be removed and flash changes in Bitcoin value do occur, but don't you agree the market will move up with a much larger probability than that it will move down?

I'm not one of those saying it's going to $0. I also think that upside potential is larger than the downside. But it's just that... "potential". The probability is that we are going down first.
The depth means nothing at all. There are more coins to sell than bids in the order books as well as there is more money to buy than asks in the order books.

[wachtwoord]

Why do people continue to post in a thread that is irrelevant?

The fall is much bigger than 40-50 USD.
Buyers will lose and Holders will continue to lose

/thread

I disagree that it is "much" bigger then 40-50. The price previously was in the mid 570-580 level and is trading around 511 now so the fall is closer to 70-80, but regardless of the amount it is still small when compared to other price drops of bitcoin in terms of percentages.

You are right, I thought OP started it around the $600 level. But there is more to come. This market is beaten down right now. The weakness is getting stronger

Have you seen how the market is balanced right now? Bid walls close to the price are much higher than the sell walls in front of it. Of course walls can be removed and flash changes in Bitcoin value do occur, but don't you agree the market will move up with a much larger probability than that it will move down?

I'm not one of those saying it's going to $0. I also think that upside potential is larger than the downside. But it's just that... "potential". The probability is that we are going down first.
The depth means nothing at all. There are more coins to sell than bids in the order books as well as there is more money to buy than asks in the order books.

Then you ARE disagreeing with me. Chances of going up first are higher.

[NotLambchop]

... Bid walls close to the price are much higher than the sell walls in front of it. Of course walls can be removed and flash changes in Bitcoin value do occur, but don't you agree the market will move up with a much larger probability than that it will move down?

As much as I enjoy the wall thread, about the only thing I learn from watching walls is people's propensity for reading too much into them.