Bitcoin Price Dropping ? How can I Protect The Value Of My Bitcoin.

[irfan_pak10]

Hello Everyone here

That's a question I always ask myself, weather its in the morning when I wake up, during the day as I read all those negative BTC reviews or even at night as I stay up contemplating weather or not my BTC will be worth less by the time I wake.

I came to a simple 3 point solution.

- Stay informed (News is key to staying ahead of any future price dips)

- Prepare for future scenarios (Hedge the risk of any possible adverse market conditions by having exit/re-entry strategies)

- Take immediate action (When the market falls get out before the panic erupts. Do not be a Bitcoin romantic. Emotional attachment will cost you.)

I'm not fear mongering here, Im simply being realistic. We all know the concept of Bitcoin is still pretty new and as we have seen with other bubbles, some burst and some float to great heights.

Thanks

[Welsh]

It's not the value which is most important.

[dsly]

It's not the value which is most important.

Thats true , but I am sure, not everyone here would like to lose money just holding on to the technology.

 

Hello Everyone here

That's a question I always ask myself, weather its in the morning when I wake up, during the day as I read all those negative BTC reviews or even at night as I stay up contemplating weather or not my BTC will be worth less by the time I wake.

I came to a simple 3 point solution.

- Stay informed (News is key to staying ahead of any future price dips)

- Prepare for future scenarios (Hedge the risk of any possible adverse market conditions by having exit/re-entry strategies)

- Take immediate action (When the market falls get out before the panic erupts. Do not be a Bitcoin romantic. Emotional attachment will cost you.)

I'm not fear mongering here, Im simply being realistic. We all know the concept of Bitcoin is still pretty new and as we have seen with other bubbles, some burst and some float to great heights.

Thanks

Maybe, you could convert the bitcoin to something else  , like Webmoney or Neteller for the time being.

[ChuckBuck]

If you're concerned about the fiat price of Bitcoin, there are ways to lock in the price.

As always look in this forum and research first before committing:

https://coinapult.com/locks/info

http://www.hedgy.co/

https://bitreserve.org/

Coinapult Locks looks to have the least hurdles and fees, if you're looking into that.

[franky1]

those worrying about FIAT price drops shouldnt.

firstly if your end goal is to go back to fiat, then your not really understanding bitcoin or thinking about the opportunities to expand bitcoin to never need fiat again..

secondly you should be thinking of the fact that if its a bad time to sell, then obviously its a good time to buy..

[LiteCoinGuy]

seriously, i guess you should sell your BTC and move to something stable. maybe you wake up and the price is at 20 USD. then what? you cant watch the price 24/7.

believe me., BTC is a rollercoaster.


note: you can lock your BTC value with "locks" from coinapult.

[wesk1212]

It's not the value which is most important.

Here we go again with this lame thoughts from a hero member

[wesk1212]

It's not the value which is most important.

If BTC is worth a penny today, please say again its not the price that is important.
I will have to pay 100,000 BTC for a flight ticket  which is 30 mill $ and have to go to expedia because thats the only travel retail that accept btc here in USA
yeah its not important.

what can you do with BTC alone if you cant convert it to fiat?
do you really think that all the merchants accepting BTC would NOT care about the price?
please tell me someone.

[Welsh]

If BTC is worth a penny today, please say again its not the price that is important.
I will have to pay 100,000 BTC for a flight ticket  which is 30 mill $ .
yeah its not important.

what can you do with BTC alone if you cant convert it to fiat?
please tell me someone.

I believe I said: most important . Oh, even if it does go down to a penny, it doesn't mean Bitcoin has failed. Anyone who is not in it for the money are intrigued by the concept of Bitcoin & the concept of the Blockchain.

Of course, we all love to make money. But, I see increasing numbers of users joining looking to make a quick buck and not taking any interest in the concept.

Anyway, I'm not going to into depth as I have work to do. However, I will say that some users here don't even look at the fiat price tied with Bitcoin, but Bitcoin as Bitcoin.

hat can you do with BTC alone if you cant convert it to fiat?
do you really think that all the merchants accepting BTC would NOT care about the price?
please tell me someone.

Well, I don't know? Use Bitcoin.

To learn about Bitcoin a good place to start is reading the whitepaper: https://bitcoin.org/bitcoin.pdf

[bluemountain]

I think the most important thing you can do is spread your risk. Bitcoin is very volatile but seems to be holding a reasonable value.

[guybrushthreepwood]

You can't protect yourself from this sort of stuff. What do you plan to stay informed on exactly? It seems if you read something good or bad this will effect your decisions and could cause you to do something unnecessary because you feel it is going to effect the price (positively or negatively) when it reality it may not do anything.

It's not the value which is most important.

Exactly, though to the get rich quicksters it seems to be.

[Barney Stinson]

If the price is dropping just buy....it will go up if everyone has that attitude. When we reach $2000 it will be legen...wait for it....DARY!  sorry!

[QuestionAuthority]

If exchange rate fluctuations scare you then you should stop using Bitcoin. Move your money into a currency that retains its buying power year after year like the dollar. ROFL

[monsanto]

You can't protect yourself from this sort of stuff. What do you plan to stay informed on exactly? It seems if you read something good or bad this will effect your decisions and could cause you to do something unnecessary because you feel it is going to effect the price (positively or negatively) when it reality it may not do anything.

It's not the value which is most important.

Exactly, though to the get rich quicksters it seems to be.

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[LiteCoinGuy]

It's not the value which is most important.

If BTC is worth a penny today, please say again its not the price that is important.
I will have to pay 100,000 BTC for a flight ticket  which is 30 mill $ and have to go to expedia because thats the only travel retail that accept btc here in USA
yeah its not important.

what can you do with BTC alone if you cant convert it to fiat?
do you really think that all the merchants accepting BTC would NOT care about the price?
please tell me someone.

https://www.youtube.com/watch?v=4nOfHpOFhN8

[pozmu]

I think investing in casino can be a good way to keep your investment value - as you know, casino always win so unless they scam you you should be up.
Sadly I didn't think about this and keep my money in altcoins and lost pretty much all of it :/

[countryfree]

The best thing to do is to do nothing. Do not even think about it. Don't check BTC's market price. This isn't day-to-day trading. You're in for the long run. Leave this forum if you're concerned, and don't check what's BTC's worth before next quarter.

[MicroGuy]

Hello Everyone here

That's a question I always ask myself, weather its in the morning when I wake up, during the day as I read all those negative BTC reviews or even at night as I stay up contemplating weather or not my BTC will be worth less by the time I wake.

I came to a simple 3 point solution.

- Stay informed (News is key to staying ahead of any future price dips)

- Prepare for future scenarios (Hedge the risk of any possible adverse market conditions by having exit/re-entry strategies)

- Take immediate action (When the market falls get out before the panic erupts. Do not be a Bitcoin romantic. Emotional attachment will cost you.)

I'm not fear mongering here, Im simply being realistic. We all know the concept of Bitcoin is still pretty new and as we have seen with other bubbles, some burst and some float to great heights.

Thanks

The reason the price is going down is simple. The Bitcoin community needs to understand that each time a giant merchant integrates bitcoin on the POS side, without also offering a bitcoin payroll option to employees, it's like putting another brick on the "sell side" of a see saw.

What we have now is a giant network of Bitpay auto-sellers dumping coins on the market. These merchants are relentlessly auto selling regardless of BTC price, and there's simply not a big enough pool of market buyers to offset this unstoppable selling machine. The only solution is to pay more people in bitcoin.

[jwcastle]

The only way that Bitcoin's fiat value won't matter is if you can pay your electrical bills with Bitcoins, as well as buying food and ordinary household items with Bitcoins.  Other than that, fiat value is always going to matter.
If 1 BTC is valued at 1 USD, how many people would still be mining? How many manufacturers would continue to produce mining hardware? Yes, you can hold on to technology like you can hold on to an Atari 2600. But when there's no value, there's no point in holding on to it except for sentiments. And one day you can say to your grandchildren, "When I was a boy, we had these things called Bitcoins and I mined it with this Antminer..."

[bitcoinmaniac52]

I feel that bitcoin is just leveling out to a more standard and consistant price, like anythinjg else it will remain stable and the large influx within the past few years was because of the craze and also all the black m arket websites. the best advice is to just pay attention to the market and be ahead of the game.