Interview with bagholders Thread

[PolyCoin-Team]

I would like to take the sudden price crash in BTC as a reason to start an interview thread with the bagholders.
I will ask the questions and the bagholders will answer them. Lets kick off this thread and ask the 2 most famous people on this forum some questions.
Ladies and gentlemen I would like to introduce VOD & Tomatocage. They have been playing police and deputy on this forum for a long time and there is no doubt that they are both massive BTC bagholders, so here we go with a couple of questions:

(1) How do both of you feel now that the BTC price has drop so quickly in the last couple of days. Are you guys butthurt or have you already cashed out?

(2) Will you buy back into BTC if the price goes below $50?

(3) Where do you clowns see the BTC price in a month?

[ujka]

Must be wrong board. Don't remember I saw a post by VOD or Tomatocage here ( Bitcoin Discussion ).

[PolyCoin-Team]

Must be wrong board. Don't remember I saw a post by VOD or Tomatocage here ( Bitcoin Discussion ).

So you are telling us VOD & Tomatoboy are not bagholders?
If you are a bagholder, care to answer the questions?

[DannyHamilton]

My hands are empty at the moment (otherwise it would be very difficult to use a keyboard), but I did carry some bags of groceries in from the car earlier today.  I'll assume that makes me a "bagholder" and qualified to answer your questions?

(1) How do . . . you feel now that the BTC price has drop so quickly in the last couple of days.

Meh.

The exchange rate goes up sometimes, the exchange rate goes down sometimes.  That's simply a function of supply and demand.  It really doesn't matter much to me.  I'm far more interested in the long term potential of the technology and innovation.

Are you . . . butthurt

Nah, but it sounds like you might be. Can't imagine why anyone holding bitcoins would be "butthurt", unless they did something stupid like hold a devastating amount of their personal savings in a volatile and risky new technology.

or have you already cashed out?

No.  I'm continuously acquiring more bitcoins whenever I have any disposable income.  My goal at the moment is to slowly increase the amount of bitcoins that I hold within my financial ability do so without exposing my self to devastating risk.

(2) Will you buy back into BTC if the price goes below $50?

Yes.
And if it goes below $220, and below $210, and below $200, and below $190.
And if it goes above $270, and above $300, and above $350, and above $500, and above $1000.

As I've said already, the price doesn't really matter much to me right now. I still see long term potential, and am not going to waste my time trying to guess what the market will do tomorrow (or next month, or next year).

(3) Where do you . . . see the BTC price in a month?

Somewhere between $4 and $10,000.  Any guess at a range smaller than that is pure guessing, and anyone who guesses correctly isn't "skilled", they just got lucky.

[RocketSingh]

My hands are empty at the moment (otherwise it would be very difficult to use a keyboard), but I did carry some bags of groceries in from the car earlier today.  I'll assume that makes me a "bagholder" and qualified to answer your questions?

(1) How do . . . you feel now that the BTC price has drop so quickly in the last couple of days.

Meh.

The exchange rate goes up sometimes, the exchange rate goes down sometimes.  That's simply a function of supply and demand.  It really doesn't matter much to me.  I'm far more interested in the long term potential of the technology and innovation.

Are you . . . butthurt

Nah.  Can't imagine why anyone would be, unless they did something stupid like hold a devastating amount of their personal savings in a volatile and risky new technology.

or have you already cashed out?

No.  I'm continuously acquiring more bitcoins whenever I have any disposable income.  My goal at the moment is to slowly increase the amount of bitcoins that I hold within my financial ability do so without exposing my self to devastating risk.

(2) Will you buy back into BTC if the price goes below $50?

Yes.
And if it goes below $220, and below $210, and below $200, and below $190.
And if it goes above $270, and above $300, and above $350, and above $500, and above $1000.

As I've said already, the price doesn't really matter much to me right now. I still see long term potential, and am not going to waste my time trying to guess what the market will do tomorrow (or next month, or next year).

(3) Where do you . . . see the BTC price in a month?

Somewhere between $4 and $10,000.  Any guess at a range smaller than that is pure guessing, and anyone who guesses correctly isn't "skilled", they just got lucky.

Whenever I see your or D&T post, I get back the confidence to hold back my few satoshis

[DannyHamilton]

Whenever I see your or D&T post, I get back the confidence to hold back my few satoshis

That's fine as long as you can psychologically handle the possibility that you wake up tomorrow morning to discover that the exchange rate is suddenly $4 per bitcoin.


If those "few satoshis" represent to you a devastating amount of value to lose, then you should reduce the amount your are holding until you reach a value that you are comfortable with risking.

[MarketNeutral]

My answers would be verbatim DannyHamilton's.

[LiteCoinGuy]

(1) How do both of you feel now that the BTC price has drop so quickly in the last couple of days. Are you guys butthurt or have you already cashed out?

I understand the tech, you dont. But you can start learning 


(2) Will you buy back into BTC if the price goes below $50?

I would buy alot.


(3) Where do you see the BTC price in a month?

Hmmm, i would say between 1 and 1000 $

[vm_mpn]

Yep, pretty much on the same page with other "bag holders"... I remember buying stocks (and I hate stocks) late winter 2009 when there was blood on the street, screaming and pain... Never regretted it. I feel about the same way now.

[MarketNeutral]

Yep, pretty much on the same page with other "bag holders"... I remember buying stocks (and I hate stocks) late winter 2009 when there was blood on the street, screaming and pain... Never regretted it. I feel about the same way now.

Strong profits. Strong feels. I know them well. Good on ya!

Seems we're quickly approaching the 'blood in the street' level of panic—very reminiscent of the Gox crash a few years back. My only regret is I didn't buy more at those low prices.

[knight22]

(2) Will you buy back into BTC if the price goes below $50?

Since I'm using bitcoin with part of my income as a bank account (combining my Xapo debit card and a bitreserve account), I'm buying twice a month at any market rate. I can't wait to be able to automate this with some bitwage like service in Canada but now there is none

[rax]

Are you . . . butthurt

Nah.  Can't imagine why anyone would be, unless they did something stupid like hold a devastating amount of their personal savings in a volatile and risky new technology.

This. I started buying a few bits back @400, but I never put that much skin into the game.

My Bitcoin investment can burn in ashes for all I care, I'll still hodl 'em mofos 

[Lethn]

Yep, pretty much on the same page with other "bag holders"... I remember buying stocks (and I hate stocks) late winter 2009 when there was blood on the street, screaming and pain... Never regretted it. I feel about the same way now.

Strong profits. Strong feels. I know them well. Good on ya!

Seems we're quickly approaching the 'blood in the street' level of panic—very reminiscent of the Gox crash a few years back. My only regret is I didn't buy more at those low prices.

The great thing about a currency that most people bitching don't realise it is if you actually use it as a currency you can benefit from both high and low prices at the same time if you know what you're doing, that's the problem with people who just treat it purely as a speculative option. That said, the smart speculators already saw the resistance line at $1000 and bailed becoming millionaires, while the rest of the numpties completely ignored the signs as they usually do.

[Stunna]

When I was working on Primedice the price of bitcoin was exploding from $10 to the $100 range over an extremely short period of time. Having sold absolutely no coins, all of my bitcoin holdings are heavily devalued in terms of USD. That being said, this fall will prove to be a long term blessing as I will continue to accumulate cheap coins.

It's pretty fun watching all the people who were looking to get rich quick start to squirm and panic. When I first got involved with bitcoin I was probably the same but after using it for the past two years I've gained a deep appreciation for the technology behind it and firmly believe in its future.

I'm sure there are plenty of bagholders who are pissed off that they missed their opportunity to sell. I can only say that I regret not selling some coins at 1k+ only because I could have bought 4x back now. I'm quite certain that OP is the type of person who will panic buy bitcoin when they begin increasing in value. All I can say is that when bitcoin has 100% made it, there will be no greater feeling than watching all the naysayers talk about how they almost won big. In a few years I'm sure I'll look back at my post history, see this thread and smile.

Regardless of how things end out, I'm more than happy to be apart of this experience.

[newIndia]

When I was working on Primedice the price of bitcoin was exploding from $10 to the $100 range over an extremely short period of time. Having sold absolutely no coins, all of my bitcoin holdings are heavily devalued in terms of USD. That being said, this fall will prove to be a long term blessing as I will continue to accumulate cheap coins.

It's pretty fun watching all the people who were looking to get rich quick start to squirm and panic. When I first got involved with bitcoin I was probably the same but after using it for the past two years I've gained a deep appreciation for the technology behind it and firmly believe in its future.

I'm sure there are plenty of bagholders who are pissed off that they missed their opportunity to sell. I can only say that I regret not selling some coins at 1k+ only because I could have bought 4x back now. I'm quite certain that OP is the type of person who will panic buy bitcoin when they begin increasing in value. All I can say is that when bitcoin has 100% made it, there will be no greater feeling than watching all the naysayers talk about how they almost won big. In a few years I'll look back at my post history, see this thread and smile.

+1

This is called confidence. I dint even sell a single satoshi I got from your campaigns.

[bitcoin_bagholder]

I am here.

Fire away when ready.

[the joint]

Whenever I see your or D&T post, I get back the confidence to hold back my few satoshis

That's fine as long as you can psychologically handle the possibility that you wake up tomorrow morning to discover that the exchange rate is suddenly $4 per bitcoin.


If those "few satoshis" represent to you a devastating amount of value to lose, then you should reduce the amount your are holding until you reach a value that you are comfortable with risking.

Regarding the emboldened passage, I'm not sure enough people really understand how possible this is.  And I say that to be realistic, not because I have a doom and gloom outlook. That realism has served as an invaluable counterpoint to my mid- to long-term bullishness.

[jonald_fyookball]

do. not. feed. troll.

[rax]

Are you . . . butthurt

Nah.  Can't imagine why anyone would be, unless they did something stupid like hold a devastating amount of their personal savings in a volatile and risky new technology.

This. I started buying a few bits back @400, but I never put that much skin into the game.

My Bitcoin investment can burn in ashes for all I care, I'll still hodl 'em mofos 

7 year update: I'm still clinging to these suckers. Using current spot price and baby rax's numbers from 2015: (42000/400)^(1/7) is about a +95% CAGR. Every fucking year.

How's the slimy concern trolling been working out for you, champ?