Topic: 17 is the new 12 - page 2. (Read 2663 times)

On that we are agreed

Bears make money, bulls make money, pigs get slaughtered.

Google should know that one.

My only point is that we can't move up while people who are unsure about higher prices hold the coins.  Only when those of us confident enough about higher prices hold them can the higher price be sustained.

Thanks notme, I think I understand a bit better though the 'bull gore pig' is lost on me (and lost on google too)!
Yet somehow still the 'strong' idea, like the 'courage' idea in the other thread just don't sit right with me.  In the OP of that one is the line 'You will need your courage far more than it will need your faith'.  But I think a simple belief that there's a bloody good chance Bitcoin will have a significant role in the future of world finance means no courage or determination or strength is needed.  People keep telling me I'm brave in holding onto my Bitcoin as it gets so high or as it plummets so deep (not that I've had to yet).

Of course I enjoy a bit of excitement as I realise how much better off I am than had I left it in pounds but if and when it goes below what it was last week or even what I paid for it it still don't feel I can claim credit for being strong or brave.  It's like someone telling me I'm brave not believing in god.  It's really easy.  It's not like I even have a choice.  It's just what I believe and I act accordingly.

All I can do is to try and remain open to arguments that I may be wrong in the fundamentals that underlie my belief, and if I'm persuaded by any or enough of them then my belief will change but courage?  strength? Nah, not me

...And those who do sell?  Maybe they're not weak either.  They just have different beliefs and act accordingly.

You sound like a sect.

Somehow I don't feel weak for selling in 2011

Weak hands panic sell, strong hands look at the drop and either say 'meh' or wire funds to the exchanges if they haven't accumulated enough yet.

Weak hands are in it for short term profit, strong hands believe in bitcoin.

It's not dog eat dog, it's bull gore pig.

I keep hearing this 'weak to strong hands' thing.  Where does it come from?  Does it mean if I bought wherever I bought low and had weak hands but subsequently don't bother trading it does that mean my hands are getting stronger otherwise I wouldn't be able to hold onto them at higher prices?  On first impression it seems to be a flawed metaphor appearing to be favoured by those with a 'dog-eat-dog' the survival-of-the-fittest, no-mercy-on-the-losers world-view.  Am I close to the mark?

BTC must flow from weak hands to strong hands before higher prices can be sustained.

Seeing as how the block reward went from 50 to 25, 24 is the new 12.  We're just not there yet and people selling off BTC while the price edges higher is delaying it.  They really ought to keep it until 23-24-ish to make the most.

I would tend to agree except when ASIC's hits (and it will some day ) but until then this is a good stopping point.  It is almost like yesterday was a stress test of the system to see how much the market could handle, just an idea.

One thing I've learned about the Bitcoin price is that it's hard to predict.

I believe 17 has became the new 12, price won't deviate much from 17 (+-2) and will stabilize at this level for a while.