An Open Message to all Bitcoin Investors - page 2.

David M

sr. member

Activity: 476

Merit: 250

Quote from: humanitee on December 18, 2013, 10:36:31 PM

Quote from: JimboToronto on December 18, 2013, 09:51:57 PM

Quote from: David M on December 18, 2013, 02:34:09 PM

Quote from: DGulari on December 18, 2013, 11:12:24 AM

The functionality of bitcoin is not 40% less from its peak. The functionality is almost the same or better than it ever was. Only the price is down.

This is almost an exact replica of the conversation I had with my father when I finally convinced him to buy 1000BTC at $8.
The $8 dollar was in September 2011 after the $32 peak.

Dad: What's causing it to drop?
Me: Fear
Dad: So the code is still good?
Me: Yes.
Dad: Buy a 1000.
Me: It's still in a down trend.
Dad: I don't care. I consider the money gone now. Buy them.

Smart man, your Dad. May I assume he didn't panic sell this week?

Did he buy more?

The dad sold 100 BTC at every $100 interval and then started doing 50 BTC at every $100 interval IIRC.

--JimboToronto
No panic selling. He sold into the rallies.

--humanitee
That's correct. He has just under 300BTC remaining.

https://bitcointalksearch.org/topic/m.3742314

Anon136

legendary

Activity: 1722

Merit: 1217

whoa and i thought i was a true believer. apparently i have been out classed. if the price dropped to one dollar lets just say i would be... phased.

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: JimboToronto on December 18, 2013, 09:51:57 PM

Quote from: David M on December 18, 2013, 02:34:09 PM

Quote from: DGulari on December 18, 2013, 11:12:24 AM

The functionality of bitcoin is not 40% less from its peak. The functionality is almost the same or better than it ever was. Only the price is down.

This is almost an exact replica of the conversation I had with my father when I finally convinced him to buy 1000BTC at $8.
The $8 dollar was in September 2011 after the $32 peak.

Dad: What's causing it to drop?
Me: Fear
Dad: So the code is still good?
Me: Yes.
Dad: Buy a 1000.
Me: It's still in a down trend.
Dad: I don't care. I consider the money gone now. Buy them.

Smart man, your Dad. May I assume he didn't panic sell this week?

Did he buy more?

The dad sold 100 BTC at every $100 interval and then started doing 50 BTC at every $100 interval IIRC.

dbasql

full member

Activity: 219

Merit: 100

Ethics and Science need to shake hands

two words

Love IT

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

Quote from: David M on December 18, 2013, 02:34:09 PM

Quote from: DGulari on December 18, 2013, 11:12:24 AM

The functionality of bitcoin is not 40% less from its peak. The functionality is almost the same or better than it ever was. Only the price is down.

This is almost an exact replica of the conversation I had with my father when I finally convinced him to buy 1000BTC at $8.
The $8 dollar was in September 2011 after the $32 peak.

Dad: What's causing it to drop?
Me: Fear
Dad: So the code is still good?
Me: Yes.
Dad: Buy a 1000.
Me: It's still in a down trend.
Dad: I don't care. I consider the money gone now. Buy them.

Smart man, your Dad. May I assume he didn't panic sell this week?

Did he buy more?

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Past performance is not an indicator of future performance.

BitChick

legendary

Activity: 1148

Merit: 1001

Quote from: Dafar on December 18, 2013, 09:16:00 PM

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

Dear Investors:

Anyone who bothered to educate themselves on Bitcoin, would know that it faces years of opposition from governments and federal banking systems. That's the *entire* reason it was created. It's going to get banned, outlawed, and fought every step of the way, because it is designed to take power away from governments and banks.

Weak hands and "get-rich-quick" investors saturate the buying and selling market right now. They frenzy buy, then panic sell. *They* are the reason the price is volatile. Not Bitcoin. Informed companies and investors continue to pour hundreds of millions into start ups and infrastructure because they know what's coming. While "day traders" and the ill-informed exhibit bipolar manic/panic behavior on the trading exchanges. These people have absolutely nothing to do with the technology and infrastructure related to Bitcoin.

This isn't a "stock" that's going down in value because "the company is tanking". The crashes are just as much speculation as the rises were. Bitcoin itself remains unchanged. Actually, its growing. The price could drop to $1.00 tomorrow and it wouldn't phase me. If it phases you, I recommend you get out while you still can.

-BittBurger-

+1

I'm down a lot of money but after all the do diligence I've done learning about bitcoin I'm not worried. If it goes down to $1 thought I may start getting worried.. so let's not go there.

And also is it okay to think of this as a "get-rich-eventually" scheme? I don't expect to get rich quick but I do think there is a good chance this will survive and capture a good chunk of the world's economy.

No one in the history of Bitcoin has lost anything, regardless of when they bought, if they just held long enough. The people that lose are the ones that buy high, panic and then sell lower. Otherwise it is just a test of our patience.

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

Dear Investors:

Anyone who bothered to educate themselves on Bitcoin, would know that it faces years of opposition from governments and federal banking systems. That's the *entire* reason it was created. It's going to get banned, outlawed, and fought every step of the way, because it is designed to take power away from governments and banks.

Weak hands and "get-rich-quick" investors saturate the buying and selling market right now. They frenzy buy, then panic sell. *They* are the reason the price is volatile. Not Bitcoin. Informed companies and investors continue to pour hundreds of millions into start ups and infrastructure because they know what's coming. While "day traders" and the ill-informed exhibit bipolar manic/panic behavior on the trading exchanges. These people have absolutely nothing to do with the technology and infrastructure related to Bitcoin.

This isn't a "stock" that's going down in value because "the company is tanking". The crashes are just as much speculation as the rises were. Bitcoin itself remains unchanged. Actually, its growing. The price could drop to $1.00 tomorrow and it wouldn't phase me. If it phases you, I recommend you get out while you still can.

-BittBurger-

+1

I'm down a lot of money but after all the do diligence I've done learning about bitcoin I'm not worried. If it goes down to $1 thought I may start getting worried.. so let's not go there.

And also is it okay to think of this as a "get-rich-eventually" scheme? I don't expect to get rich quick but I do think there is a good chance this will survive and capture a good chunk of the world's economy.

spiderbrain

legendary

Activity: 889

Merit: 1013

Quote from: David M on December 18, 2013, 02:34:09 PM

I consider the money gone now. Buy them.

awesome.

BitcoinHawker

newbie

Activity: 38

Merit: 0

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

Dear Investors:

Anyone who bothered to educate themselves on Bitcoin, would know that it faces years of opposition from governments and federal banking systems. That's the *entire* reason it was created. It's going to get banned, outlawed, and fought every step of the way, because it is designed to take power away from governments and banks.

Weak hands and "get-rich-quick" investors saturate the buying and selling market right now. They frenzy buy, then panic sell. *They* are the reason the price is volatile. Not Bitcoin. Informed companies and investors continue to pour hundreds of millions into start ups and infrastructure because they know what's coming. While "day traders" and the ill-informed exhibit bipolar manic/panic behavior on the trading exchanges. These people have absolutely nothing to do with the technology and infrastructure related to Bitcoin.

This isn't a "stock" that's going down in value because "the company is tanking". The crashes are just as much speculation as the rises were. Bitcoin itself remains unchanged. Actually, its growing. The price could drop to $1.00 tomorrow and it wouldn't phase me. If it phases you, I recommend you get out while you still can.

-BittBurger-

I hope you are right. Because in the past we could point to alot of different meaningless reasons why bitcoin was up and down. Now we are talking about federal governments, and countries saying no to bitcoin. I think it might be a little more serious now. Just my 2c

BitChick

legendary

Activity: 1148

Merit: 1001

Libertarians unite. Wink

I am realizing I am way more libertarian then I ever thought for sure. I don't have a gun yet though.

Anyways, I am not to fazed by the drop. In the back of my mind I figured it was probably likely. I tend to be optomistic though and bullish so I think that there will come a day when we can avoid these ups and downs, but this week is tough with China and even Christmas thrown in.

Sigh, oh well.

I feel bad for my friends that just finally decided to invest and are underwater. I guess I can't feel too bad because I told them to buy at $200 right before the big price increase and they did not listen fast enough.

That is just the way it goes.

I have a feeling this will repeat itself ever few months. We just have to get used to it. I can bring myself to daytrade though. I just can't time it right.

David M

sr. member

Activity: 476

Merit: 250

Quote from: DGulari on December 18, 2013, 11:12:24 AM

The functionality of bitcoin is not 40% less from its peak. The functionality is almost the same or better than it ever was. Only the price is down.

This is almost an exact replica of the conversation I had with my father when I finally convinced him to buy 1000BTC at $8.
The $8 dollar was in September 2011 after the $32 peak.

Dad: What's causing it to drop?
Me: Fear
Dad: So the code is still good?
Me: Yes.
Dad: Buy a 1000.
Me: It's still in a down trend.
Dad: I don't care. I consider the money gone now. Buy them.

Wilhelm

legendary

Activity: 1652

Merit: 1265

Dear Investors:

Anyone who bothered to educate themselves on fiat, would know that it faces years of abuse from governments and federal banking systems. That's the *entire* reason it was created. It's going to get worth less every step of the way, because it is designed to take power away from the people.

jamesc760

sr. member

Activity: 448

Merit: 250

No, let's not try to rally the investors who are in fear and in panic mode. Let them sell low. More and cheaper coins for the rest of us. If you are panicking, you deserve to lose all your coins. Sell them now and get out. I want them cheap coins now.

GeniuSxBoY

hero member

Activity: 616

Merit: 500

Quote from: AnonyMint on December 18, 2013, 10:40:45 AM

Agreed all except where you wrote "Bitcoin" replace that with "cryptocurrencies ecosystem including altcoins". Bitcoin is not sufficient to defeat the corrupt governments (which is all of them in my opinion). It lacks several critical things. That will have to come from an altcoin that does not yet exist.

BitCoinDream

legendary

Activity: 2394

Merit: 1216

The revolution will be digital

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

Dear Investors:

Anyone who bothered to educate themselves on Bitcoin, would know that it faces years of opposition from governments and federal banking systems. That's the *entire* reason it was created. It's going to get banned, outlawed, and fought every step of the way, because it is designed to take power away from governments and banks.

Weak hands and "get-rich-quick" investors saturate the buying and selling market right now. They frenzy buy, then panic sell. *They* are the reason the price is volatile. Not Bitcoin. Informed companies and investors continue to pour hundreds of millions into start ups and infrastructure because they know what's coming. While "day traders" and the ill-informed exhibit bipolar manic/panic behavior on the trading exchanges. These people have absolutely nothing to do with the technology and infrastructure related to Bitcoin.

This isn't a "stock" that's going down in value because "the company is tanking". The crashes are just as much speculation as the rises were. Bitcoin itself remains unchanged. Actually, its growing. The price could drop to $1.00 tomorrow and it wouldn't phase me. If it phases you, I recommend you get out while you still can.

-BittBurger-

Thinking clearly inside the foundation

Please give me a way to SuperLike this post.

bassclef

hero member

Activity: 924

Merit: 1000

Quote from: monkeybars on December 18, 2013, 12:56:35 PM

Quote from: BittBurger on December 18, 2013, 11:01:10 AM

We can argue Satoshi's motives if you want, but neither of us knows. His comment on the first Bitcoin transaction however is telling. Do you know what he wrote?

Where can you find that out?

In the Genesis Block there's a headline from a 2008 bank bailout. Very telling.

SuperHakka

full member

Activity: 196

Merit: 100

Quote from: BittBurger on December 18, 2013, 10:31:02 AM

The price could drop to $1.00 tomorrow and it wouldn't phase me. If it phases you, I recommend you get out while you still can.
-BittBurger-

Obviously it does phase you to some extent, otherwise you wouldn't have bothered creating this post. psichological for ya!

monkeybars

sr. member

Activity: 278

Merit: 251

Quote from: BittBurger on December 18, 2013, 11:01:10 AM

We can argue Satoshi's motives if you want, but neither of us knows. His comment on the first Bitcoin transaction however is telling. Do you know what he wrote?

Where can you find that out?

DGulari

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Activity: 1386

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KawBet.com - Anonymous Bitcoin Casino & Sportsbook

Quote from: nastybit on December 18, 2013, 11:21:47 AM

BittBurger, DGulari, I completely agree with you except for the $1 part, not going to happen!

Nobody is predicting $1 - we just say that whatever the price, everyone except the speculators just keeps on working the same.

Topic: An Open Message to all Bitcoin Investors - page 2. (Read 4483 times)