Bitcoin's price, and mental health. - page 10.

HardFacts

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Quote from: witcher_sense on March 22, 2020, 06:50:36 AM

our understanding of what real money should really be.

That is where you go TOTALLY WRONG. BitCoin is NOT, NOT, NOT what real money should really be.

1. There can be an infinite amount of crypto currencies created, which is why we now see thousands of them Grin

2. It needs to have intrinsic value, which BitCoin does not have. Try making a " Digital House " and selling it, or even living in it, no matter what name and special " properties " you give your Digital House, it will never be real.

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HardFacts

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Quote from: Twinkledoe on March 22, 2020, 07:29:24 AM

Many people are in bad mental state when they have something to lose that they can't afford. That's why they are very worried about the movement in the market. So the sudden drop or rise, makes him agitated and confused what to do with his investments. So when it comes to crypto, better invest what you can afford to lose so your life is not depending on it.

THAT IS GOOD ADVICE.... Which is hard to find in the BitCoin community. With so many " believers " this community has turned into a cult of people that just reinforce each others delusions. BitCoin is a great way to speculate, and if you can call the highs and dips, you can make a lot of money, but it is a Casino... And I would never mortgage my house or take my retirement to gamble at the casino.

I have no idea which way BitCoin will go from here, but its reaction to its first ever crisis is VERY WORRYING. If people were looking at reality, there would be a lot more people here with really bad mental health.

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Twinkledoe

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Quote from: witcher_sense on March 22, 2020, 06:50:36 AM

Quote from: Cryptoreflector_666 on March 21, 2020, 05:06:38 PM

This is an interesting approach, but what about the high volatility of bitcoin? Every time we see such a swing in the price range, then blood pressure and heart rate increase self-sufficient. I think that if there is a strong mental concern, it is better not to mess with Bitcoin.

And again, high volatility of bitcoin creates many opportunities to buy more of asset at the price you need. The only thing you have to do here to avoid mental problems is to change your philosophy, think what you are really waiting from bitcoin. Depending on your philosophy, you will see either a high volatility asset with very high risk to trade or you will see an asset that was born to change our future, our understanding of what real money should really be. By changing your mind, you can better understand how you should react on price spikes. If not, then everything might become frightening for you, ruining you mental health.

Many people are in bad mental state when they have something to lose that they can't afford. That's why they are very worried about the movement in the market. So the sudden drop or rise, makes him agitated and confused what to do with his investments. So when it comes to crypto, better invest what you can afford to lose so your life is not depending on it.

witcher_sense

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Quote from: Cryptoreflector_666 on March 21, 2020, 05:06:38 PM

This is an interesting approach, but what about the high volatility of bitcoin? Every time we see such a swing in the price range, then blood pressure and heart rate increase self-sufficient. I think that if there is a strong mental concern, it is better not to mess with Bitcoin.

And again, high volatility of bitcoin creates many opportunities to buy more of asset at the price you need. The only thing you have to do here to avoid mental problems is to change your philosophy, think what you are really waiting from bitcoin. Depending on your philosophy, you will see either a high volatility asset with very high risk to trade or you will see an asset that was born to change our future, our understanding of what real money should really be. By changing your mind, you can better understand how you should react on price spikes. If not, then everything might become frightening for you, ruining you mental health.

HardFacts

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Quote from: FlightyPouch on March 21, 2020, 07:50:11 PM

Quote from: Shame_Game on March 20, 2020, 09:15:27 AM

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

Panic is not new in this market but it is one of the reasons why the price also falls especially when there are those people that spread FUDs.

What an UTTERLY STUPID statement. Taking Valid Concerns about BitCoin and changing the name to FUD's is a very dishonest way to get people to ignore very real risks. I have news for you, the reasons for the price going down are not FUD's... The price crash in a crisis is due to facts and reality. WISE UP.

Would you trust any wall street investment if when you raised a concern, they accused you of being a FUD and a reason for you loss of money ?

Seriously, there are some very low quality, dumb, cult like " believers " here.

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verita1

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Quote from: mk4 on March 13, 2020, 08:36:19 AM

and while a lot of people here have been here since like forever(hence are probably immune to the effects of these crashes at this point), but if this saves one person it's well worth it.

This phrase is charged with human quality as a member of bitcointalk that gives its most positive message in times of crisis. And You are right, we are currently living in a difficult time for humanity. Statistics show that people become mentally ill when they have problems with job loss, loss of money, and some even commit suicide. We have the opportunity to recover material things, we must fight now to recover the most important public health.

FlightyPouch

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Quote from: Shame_Game on March 20, 2020, 09:15:27 AM

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I think you are confused here, mate. We have something we call the supply and demand. As the supply is small, the demand increases and that is somewhat the basis of the price of bitcoin. Panic is not new in this market but it is one of the reasons why the price also falls especially when there are those people that spread FUDs.

HardFacts

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Quote from: samcrypto on March 21, 2020, 06:13:51 PM

Quote from: Chris Barth on March 21, 2020, 01:54:46 AM

Quote from: Shame_Game on March 20, 2020, 09:15:27 AM

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I'm still striving to understand this... Lol... How does the price of BTCitcoin depend on the mental health of the investors? 🤔

Well, he said about the panicking so I guess when the investors are mentally ill, they will panic and sell at a loss. Some investors are not feeling good every time bitcoin is dump, so maybe most of them sell their bitcoin and that affects the price. OP is right, we only one lives to use for so better not to worry that much with bitcoin because it will bounce back again in time and you will not regret for holding bitcoin.

THERE IS ANOTHER, WORSE POSSIBILITY than selling at a loss... That is keeping your BitCoin and losing virtually ALL your investment Cry

Any rational, smart investor knows when it is time to cut losses and sell.

I have no idea if BitCoin price will go up or down from here, but I do know that to hold no matter what the facts say is just stupid and good way to lose all your money.

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HardFacts

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Quote from: Sadlife on March 21, 2020, 06:35:35 PM

This is true many people have invested their mortgage and savings with a high price. Even for me with the unexpected flash crash i've really lost quite a lot, im also put my savings in buying BTC and ETH. But compared to others that are heavily invested to it they must be in extreme depression right now. I hope they realized that the market will eventually recover just stay positive.

BAD ASSUMPTION: Since the crisis began, more people are SELLING BitCoin than buying, that should make you think... Even FOOLS know the saying there is no free lunch, and you assuming your investment will go back up is dumb. I have no idea where bitcoin will go from here, but what I do know it that is CAN go down and be worth virtually nothing in the future. BitCoin could also go up, but given the price performance I have seen, I would not invest in BitCoin at any price.

You are correct about one thing, there are a lot of BitCoin investors that bought in at 10,000 + in EXTREME DEPRESSION right now. And their Mental Health is possibly about to get a lot worse Shocked

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HardFacts

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Quote from: witcher_sense on March 21, 2020, 09:18:10 AM

To consider bitcoin from the start not as speculative asset, but as the base in future monetary system might help you to overcome some obstacles.

Every fall becomes an opportunity to buy more and you're always glad to receive desired asset. Every rise becomes a sign of new wave of adoption thus hopes about new monetary system become less naive and you're glad once again. Mental health is fine and will be so.

BITCOIN AS MONEY HAS ALREADY FAILED How utterly delusional can you be ? BitCion was first supposed to be a replacement for money, to use in ordinary transactions. When that did not work, BitCoin was recently pumped at " Digital Gold " a safe haven asset, that has also FAILED...

So you want to consider BitCoin as something it has totally and utterly FAILED at ?

You will be one of the dumb investors that will richly deserve to lose your money. And there is nothing worse for " Mental Health " than a Cult like believer, that has been punched in the face and forced to accept reality Cheesy

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Sadlife

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This is true many people have invested their mortgage and savings with a high price. Even for me with the unexpected flash crash i've really lost quite a lot, im also put my savings in buying BTC and ETH. But compared to others that are heavily invested to it they must be in extreme depression right now. I hope they realized that the market will eventually recover just stay positive.

samcrypto

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Quote from: Chris Barth on March 21, 2020, 01:54:46 AM

Quote from: Shame_Game on March 20, 2020, 09:15:27 AM

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I'm still striving to understand this... Lol... How does the price of BTCitcoin depend on the mental health of the investors? 🤔

Well, he said about the panicking so I guess when the investors are mentally ill, they will panic and sell at a loss. Some investors are not feeling good every time bitcoin is dump, so maybe most of them sell their bitcoin and that affects the price. OP is right, we only one lives to use for so better not to worry that much with bitcoin because it will bounce back again in time and you will not regret for holding bitcoin.

Cryptoreflector_666

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Quote from: witcher_sense on March 21, 2020, 09:18:10 AM

To consider bitcoin from the start not as speculative asset, but as the base in future monetary system might help you to overcome some obstacles.

Every fall becomes an opportunity to buy more and you're always glad to receive desired asset. Every rise becomes a sign of new wave of adoption thus hopes about new monetary system become less naive and you're glad once again. Mental health is fine and will be so.

This is an interesting approach, but what about the high volatility of bitcoin? Every time we see such a swing in the price range, then blood pressure and heart rate increase self-sufficient. I think that if there is a strong mental concern, it is better not to mess with Bitcoin.

fiulpro

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The thing is , I choose to sell my Bitcoins because of quarantine everything was very costly and you had to stock up for the whole month.
Now the good thing is,
I am happy that I didn't ask anyone for money .
--------------------------------------
The thing is , you will always make more money in the future , but there are some things that you cannot sacrifice. Things like , life , family , health , values.

So don't think much and enjoy , it can always be earned back.

witcher_sense

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To consider bitcoin from the start not as speculative asset, but as the base in future monetary system might help you to overcome some obstacles.

Every fall becomes an opportunity to buy more and you're always glad to receive desired asset. Every rise becomes a sign of new wave of adoption thus hopes about new monetary system become less naive and you're glad once again. Mental health is fine and will be so.

HardFacts

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Quote from: princesspoppy on March 18, 2020, 06:19:22 PM

With the current market, many people are sad, disappointed, and frustrated with it. It is understandle but yes indeed, please don't ever try to finish yourself because of this crash. This is just temporary and the market will recover, it may take long time but still it will and everyone still have the chance to recover their lost money. Just keep believing.

The Economic Crisis will last for over a DECADE, yes many years !!! It is just getting started. The Great Depression lasted 13 years... You may be waiting until you are dead.

" BELIEVING " Is not investing, it is stupid. Invest wisely based on facts, anyone " believing " deserves to lose everything. Cult members " believe " and are the dumbest, most Delusional people on the planet.

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Quote from: Shame_Game on March 20, 2020, 09:15:27 AM

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

The price of REAL COINS is going UP in panic and economic crisis, and it is just getting started....

The fact that BitCoin reacted so badly to its first ever economic crisis should worry everyone, and yes even affect your mental health if you need the money. BitCoin grew up in an economic BUBBLE, where virtually every asset went up. That world is now GONE, the Economic crisis and depression will last for many years, adjust your investment strategy accordingly.

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DooMAD

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Leave no FUD unchallenged

Quote from: Chris Barth on March 21, 2020, 01:54:46 AM

Quote from: Shame_Game on March 20, 2020, 09:15:27 AM

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I'm still striving to understand this... Lol... How does the price of BTCitcoin depend on the mental health of the investors? 🤔

I'm working under the assumption they meant "mindset" rather than "mental health". Otherwise, yeah, it makes no sense. Chalk it up to a language barrier, perhaps?

"Mental health" would infer the people panic selling aren't in a good state of mental health, while the people HODLing are mentally fit. That would be a rather strong statement, even for a perma-bull, heh.

CarnagexD

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Quote from: Vishnu.Reang on March 21, 2020, 02:09:09 AM

LOL.. this might have happened a few years ago. But I guess the investors are more mature now. Back in 2017/18, many of the investors were new to cryptocurrency and they lost up to 95% of their capital in investing in altcoins such as Cardano and Litecoin. Compared to the crash that we had in 2018 (when the prices declined from $20K to $4K), the current bearish phase is much more tolerable.

There are a lot of people having investment way back on that year and some of the people see the potential of the bitcoin to make more earnings and some of them failed their expectations to make more earning and one of the goals of every people is to make more profit, from the previous years of the bitcoin from the year of 2010 it does not show a huge market profit instead there are still many people to use on it to make more income because it just starts from the lower market price until now they are doing it and some of them are lose their faith and money to the bitcoin that may cause of too much affect on their mental health there has a lot of thoughts and doubts about the things they made still it is better if we control all the things we are doing because even the market is too low and high we cannot assure that the market are still stable on that, every time we do there is a risk so make you sure you are ready enough to do those things.

Vishnu.Reang

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LOL.. this might have happened a few years ago. But I guess the investors are more mature now. Back in 2017/18, many of the investors were new to cryptocurrency and they lost up to 95% of their capital in investing in altcoins such as Cardano and Litecoin. Compared to the crash that we had in 2018 (when the prices declined from $20K to $4K), the current bearish phase is much more tolerable.

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Quote from: Shame_Game on March 20, 2020, 09:15:27 AM

The price of bitcoin directly depends on the mental health of investors. And in such cases of panic , the price of course falls.

I'm still striving to understand this... Lol... How does the price of BTCitcoin depend on the mental health of the investors? 🤔

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