Bitcoin Food for Thought!!! (Bear Market Special) - page 3.

Cookdata

hero member

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Not Your Keys, Not Your Bitcoin

Quote from: Bitstar_coin on June 16, 2022, 03:08:17 AM

Link from the source is either broken or removed, couldn't dig it from here.

I saw that image on Twitter yesterday but I'm not sure if your source was from Twitter: https://twitter.com/lopp/status/1537126860911480832

I have queried the search button to see the profile on bitcointalk but it wasn't found, was the profile deleted?

Quote from: hZti on June 16, 2022, 03:54:48 AM

There is also a post like this in the german local forum, wehre somebody is very disappointed that BTC is again at 10 € and is wondering if it will ever go up again.

What happened to all those users, all are inactive, they look just like regular users who created accounts back then and never visit again.

Bitcoin has been in existence since 2009, any child born from that year to now will be a teen by now, those who are panicking here and there because of small FUD will come back again when they grow old and will bite their tongue for running because of inflation that has been in existence before the world war.

avikz

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That's really funny! $20 worth of bitcoins in 2011 could have made the holder a millionaire today. But pessimism kicked in and the opportunity is lost. I remember I have done the same thing with ETH because I actually had a chance to buy ETH at $3. But I was skeptical about its future and didn't buy. I could have become a millionaire by now based on the investable surplus I had back in that time. Bow trying to correct that mistake by buying at every dip for longer time, probably for my retirement.

passwordnow

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Leading Crypto Sports Betting & Casino Platform

That's what everyone is feeling when the market is crashing but got no plans on how they're going to overcome this crash. It's true that buying back is important and even if you've lost already but you still want to remain in the game, that's how it should go.

Quote from: pooya87 on June 16, 2022, 03:45:16 AM

I've always said that there is no problem with selling bitcoin, I'd go as far as saying there is even no problem with panic selling bitcoin either. The problem is not buying back soon after. Imagine if this person who panic sold below $20 had bought back when the panic sell ended and before the price started shooting back up again.

It's the same scenario repeating itself every time we have a drop. A large number of weak hands panic sell but they don't buy back, only a smaller percentage of people are buying these days. People who would be called whales a couple of years later.

I agree, no problem in selling if you need the cash but make sure that you have a game plan on how you're going to buy back whether at the same price or not, lower or higher as long as you have a long term plan to stay.

tranthidung

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Farewell o_e_l_e_o

Quote from: Lucius on June 16, 2022, 04:06:14 AM

One important difference between 2011 and 2022 is that today people sell BTC for stablecoins, and before they sold them for $, so although fiat is not something to trust, stablecoins are another higher level of risk since they are backed with the same fiat, and in addition have the added risk of being frozen no matter where they are stored.

You are right.

Both fiat and stable coin are inflationary but with fiat, at least we have governments and central bank back behind. If governments are strong, we can believe in that fiat but of course with inflation, purchasing power will decrease.

With stablecoins, lot of things we don't know and any company should have less power than government and central bank so there is more risk. A higher risk is with algorithm stablecoin with Terra UST & LUNA is a good example. TRX and USDD is a latest one.

Lucius

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One important difference between 2011 and 2022 is that today people sell BTC for stablecoins, and before they sold them for $, so although fiat is not something to trust, stablecoins are another higher level of risk since they are backed with the same fiat, and in addition have the added risk of being frozen no matter where they are stored.

I can understand people selling BTC for a variety of reasons, especially if they have no choice because they need that money for daily needs - but it’s hard for me to understand that people don’t learn from the past and repeat the same mistakes. I have already written several times that from the perspective of profit, which is why most people are interested in Bitcoin, the most important thing is to determine the point of entry and exit.

So far, it has proven to be the entry point in situations like this when the market has suffered a severe blow, or for those who want to profit in the short term at the time of halving. ATH will most likely follow in 6-8 months after that and the smart ones will know how to take advantage of this by selling little by little on the way up.

Of course, this is not financial advice, but only what can be seen if you look at the brief history of Bitcoin.

hZti

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Magic

There is also a post like this in the german local forum, wehre somebody is very disappointed that BTC is again at 10 € and is wondering if it will ever go up again.

Quote from: codymanix on July 05, 2011, 02:14:10 AM

Hi Leute,

was ist da los? Seit über einer Woche ist der Bitcoin Kurs nur noch am sinken. Mittlerweise werden auf Bitmarket.eu schon Bitcoin für 10 € angeboten.
Warum passiert das? Ich meine der Mt Gox hack ist doch nun lange her, der Kurs war doch zwischendurch glaub ich auch mal wieder kurz am steigen.
Was meint ihr, wie lange wird das jetzt noch so gehen?

pooya87

legendary

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I've always said that there is no problem with selling bitcoin, I'd go as far as saying there is even no problem with panic selling bitcoin either. The problem is not buying back soon after. Imagine if this person who panic sold below $20 had bought back when the panic sell ended and before the price started shooting back up again.

It's the same scenario repeating itself every time we have a drop. A large number of weak hands panic sell but they don't buy back, only a smaller percentage of people are buying these days. People who would be called whales a couple of years later.

Bitstar_coin

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Am not sure but from the tone of this post i think it was made during times like this. i stumble across this very inspiring piece of btc post from the telegram channel i follow so i thought to share it here to inspire some of us who are thinking the worst because of the blood bath. More than 10 years since this post was made here in this forum, i hope the @op bought back his btc otherwise........ won't comment any further Lips sealed

Link from the source is either broken or removed, couldn't dig it from here.

Do share your beautiful thoughts.

Topic: Bitcoin Food for Thought!!! (Bear Market Special) - page 3. (Read 586 times)