Topic: FUD Has Finally Taken Its Toll on Me (Read 746 times)

Few centralized governments hardly hate Bitcoin due to decentralized behavior. They don't want to lose control over the world financial system. So they are finding a way how they could make Bitcoin weak although they couldn't ban it totally. So they choose energy issues and ban mining. But you can see even though China banned Bitcoin it doesn't help to ban Bitcoin worldwide. Still, people using it, and a lot of Chinese investors are in the cryptocurrency industry. So we don't need to think much about banning Bitcoin or ban mining. Bitcoin will exist.

I don't know why people here keep assuming that I'm "selling" my Bitcoin. I'm not. I specifically said that I will HODL for life, regardless of how low the price of Bitcoin goes.
What I said was that I'm having second thoughts about buying more Bitcoin, in light of the fact that POW mining is coming under attack by governments around the world.

You’re not the first & you won’t be the last weak hands in bitcoin, OP. I’ve seen so many sell like yourself when the going gets tough. Bitcoin always recovers though & goes on to reach new highs. I can advise you to hodl & not sell but it’s up to you.

We’re in a bear market but that should make you want to buy, not sell. This is when money is made, buy more, don’t sell.

The government is powerless, a very stupid ban will force people to use crypto.
any ban will speed up the process of spreading crypto around the world.
bans have been around since bitcoin or crypto existed in the world, but what we see bitcoin continues to grow and is getting more and more popular with this we can easily read or rate bitcoin in the future which will continue to grow and get better from generation to generation.

I agree with that. As long as the younger generation is interested in bitcoin and cryptocurrency as a whole there will always be a demand for it.
Since bitcoin is decentralized there's nothing that can stop it. The governments can ofcourse regulate it or some can even ban it but they can't stop it functioning.
So as long as we all are here bitcoin is here to stay. Keep hodling.

Where the government or anyone has no control over cryptocurrency even no one can control it in any way. In that case there is no end of bitcoin. If the government wants they can restrict it but does stop it. The Bitcoin market is currently in a bit bearish, but it is temporary. As it has been adapted by the younger generation its demand will always increase.

You will need to fully control the World to succeed in that regard . Fortunately they do not, and will not be able to in the future. One World government as they hoped for is nolonger possible. You will have independent countries with strong influence from US under Trump in the near future... This set up will be favorable to Bitcoin.
There is a reason we are on the side of Russia in the current war against One World Government.

I would deny that because I think that younger generation is more aware of the pros and cons of cryptocurrencies.
So I think they might instead support cryptocurrencies and make it legal in their countries.
If I were a person of political power then I would definitely make crypto legal with some regulation that supports it's growth.

You are not new in here and you also know that the news was not new but why you suddenly feel a doubt? I don't know if what did you do or eat lately but I hope you can return on your normal state but it's great that you open up your problems here. People here can surely discourage you from your plan of giving up on what you already started.

Many youngsters are involved in btc more than the adults. If many youngsters join politics then they will surely approve btc more than banning it. The only sad part is that there are countries that already banned btc or btc mining activities although that does not lead for other countries to follow as they know that btc can bring some benefits to them.

@Crypto Bull. The reason for us to need decentralization is to make it very difficult for the government to enforce their laws and impose their command and control on the whole population. Similar to your concern, as bitcoin mining becomes more centralized, this makes it easier for the government to enforce the ban on proof of work mining. I am afraid that this might also open an argument for cryptocoins to hardfork to proof of stake which has never been done before.

Exactly, we must also remember that even if a country or a group of countries may seem to be incredibly powerful if they keep taking mistaken decisions over and over again eventually they are going to bring themselves to a point of failure, the European Union is already suffering greatly from the mistaken decisions they have taken during the last decades, so even if at some point in the future they ban bitcoin mining this doesn't mean that such a law is going to stay in place forever, at some point they will change their mind because the economic benefits of it will surpass any objection they make have against it.

Assuming bitcoin will be banned from mining in EU it doesn't mean bitcoin will also be banned from mining in other countries. EU is only part of the world not the world is part of EU, you are overestimating EU.

Like China before, once the country with the largest number of miners in the world, after the ban was issued, the miners moved to other countries and the mining did not stop. There will always be countries that see the potential of bitcoin and they are ready to welcome it like El Salvador.

Correct analysis.

I never thought that Bitcoin would die an organic death. I always feared government intervention.

The drop in price of BTC is not what caused me to lose faith in the cryptocurrency. It was actually the news of the EU attempting to ban POW.

I actually bought 2k of Bitcoin (at around 19k and 18k) a few weeks ago. I didn't have more liquid cash on hand, so I dipped into my stock portfolio, and liquidated 10k. So, I'm now waiting for another chance to buy, but I think the price is high right now, at over 20k, so I'll take my chances and wait.

And that's exactly what I've been doing since June of 2017. In fact, I hold over 50 different cryptocurrencies atm. Most of them tanked. So, I'm reluctant to buy more (except maybe Bitcoin). I got tired of hearing hype about every new coin, only to watch it fade into obscurity, and be replaced by another coin.

I'm afraid you misunderstood my post. I never sold any Bitcoin. I just hesitated to buy more.

True, but their 'climate' agenda trumps their sympathy for cryptocurrency.

Actually, the low Bitcoin price had nothing to do with my FUD. If anything, it actually created FOMO in me. That's why I immediately bought 2k worth of BTC, and then sold 10k worth of stocks (at a multi-year low price, I might add), and was waiting to dump it into Bitcoin, once it went down to at least 17k.

What triggered my FUD was the news of the EU voting to ban proof-of-work.

I never act with the crowd. I'm a contrarian, who likes to buy when there's 'blood running in the streets'.

While I do think that waiting on the sidelines is the worst scenario right now if later when Bitcoin surges I buy and invest in Bitcoin.  I could have entirely missed a discounted sales of BTC.  So I think if anyone has a plan to buy BTC, the current bear market is the best scenario to get in.


Well, many newbies don't know TA's and signals so it is kinda hard for them to read the chart, would be better to explain it in layman's terms and advise them to DCA every time the price of Bitcoin goes dipper.  We can call it accumulation stuff.

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Anyway, @OP, if you are still in doubt, you can just wait on the sideline to see how things develop but make sure you don't regret anything later.  Risk always accompanies investment but you can mitigate it by studying and researching the market.  You can dig more and study the Bitcoin market if you don't want to regret your action later, just make sure you won't listen to everyone easily before confirming them.

we've seen, heard this many times over. and yet, here we are, bitcoin is still holding its ground. we can't avoid some people having negative thoughts towards the btc market, because it depends on how they feel towards this market. also, if they feel they are on the losing side, they will more then likely give negative thoughts on what's happening.

But in this case I actually still have other beliefs in myself.
I saw the OP had registered his account in 2018 and obviously it was several years ago and of course the OP already knew about bitcoin and Crypto so created an account here.
It would be very strange if the OP liquidated all the money he has now because if he wanted the OP could actually liquidate it in 2018 which clearly bitcoin was still very cheap at that time.
But indeed there may be other calculations from the OP and this is just my wild thought.

Speaking about bitcoin is dead kind of headline or something those claims or sentiments from different gurus and so called professionals
then we could have a good read for some reference on this one.
https://99bitcoins.com/bitcoin-obituaries/

Bitcoin has died 461 times

Then hearing up something like this with these lose of fuds in the market then as an investor or supporter of bitcoin then it would be better if he get used to it because
thats how these things circles around on this forum or entire crypto space specially on a bear market.You would see lots of those scenarios
and events which could potentially make you panic.

If you have doubt then don't invest.  Just do what your intuition tells you.  If you wanted to be convinced, let your research do the convincing for you.  Just look at the history of Bitcoin specifically the economic side.  It will tell you everything about ups and downs of Bitcoin.


If younger and more progressive individual enter position in Europe's politics, I think it will be a great sign because younger people are more open minded to the current technical revolutions than the older ones.  Besides, if ever Europe shuts it doors to crypto mining, miners will definitely move to another part of the world where mining is legal.  Just know that even if there is some country  in hostile stance against Bitcoin,   there are also countries that welcomes it with open arms.

Looks familiar as we get these FUD whenever there is a market correction, go through the archives in this forum and you will see many RIP eulogy in this forum how BTCitcoin is dead and will never rally again and we see these fear mongers all the time. If you trust the decentralized market there is nothing to worry as it will move on year in and year out even with all these FUD.

I think your feelings are normal in a bear market.  Especially as we get close to the lows.  I think you should take this time to rethink why you got involved with Bitcoin and what your expectations are going forward.  Taking a realistic approach and buying over time with amounts you are comfortable with will make you proud of your stash instead of fearful of what will happen.  You don't need to take an all or nothing approach.  Do what you think is best, but put a lot of thought into what you do.

Always lay out your thoughts and analysis it with the present, past and possible future happenings, many have this thoughts that their is no more gains in Bitcoin and now they want to focus more on Alt-coin but they are only Into bitcoin because it’s safe, this are their thoughts and if this has any influence on you without you seeing it from your own perspective it can lead you to acting out negatively. FUD is continuous and so is doubt, but after I have done my own research and analysis I see bitcoin as part of the present and future.

I don't think waiting on the sidelines is the worst scenario to be in right now, it seems like many are in the same boat as well. Sure you didn't manage to get Bitcoin at $18K, but for all we know price can drop to $12K very soon. As long as you're a willing buyer if price get's back above $25K (200WMA as well realized price), where we could see a considerable move to the upside, then you're really not missing much imo.

It's much better to try and buy a confirmation of a trend reversal than catching a falling knife generally speaking, if you're not dollar cost averaging into a dip that is. Just my opinion, but unless you've sold Bitcoin recently, then you don't have much to regret right now. If you still have your fiat waiting on the sidelines then it's a good position to be in for now. Just keep your eye on what happens next imo.

We often come through this feeling of doubtfulness and fear towards Bitcoin mostly during the bear season but it's something that we should face and we have to get through this. If you aren't comfortable holding them you could let go but think of the risk of letting go of your investments when the market recovers. You should question yourself if you can also handle the possible regrets that you might face when the price of Bitcoin strikes high in the future. Sometimes some instances will test your faith in crypto.

One thing you should keep in mind is even if bitcoin isn't successful Cryptocurrencies as a whole are here to stay for sure. So the only way out of the problem you are in is to diversify into different Cryptocurrencies, if you are doubtful about pow, keep some money into POS. Just make sure even if one of them hits the moon it'll cover your losses in rest all of them. Practice the exactly same thing which you were doing for your stock portfolios.

*sigh*

Oh buddy, you really screwed yourself over with this. I understand that investing in something as volatile and new as crypto is a scary game. We all went through those same fears until we grew experienced enough to understand the potential of Bitcoin.

What you did was give the whales your coins at a very cheap price. They are going to be very happy when those coins triple, quadruple in their value within a relatively short time frame.

Instead of letting yourself get spooked you should have just invested and walked away for a few years instead of letting yourself fall into doubt.

The younger and more 'progressive' politicians got their seat in EU, I think they are more tolerant and open to crypto than the old guard camp, tho. I mean have you seen how a lot of new faces and young politicians try to get votes from zoomers by saying yes man to anything that seems popular around the internet. BTC takes a lot of power to mine a block but overall, they ain't worth to upsetting a bunch of zoomers on the crypto space and the boomers and the millennials. Thing change and the green movement around the world also have to re-adjust its goal as you must have seen Nuclear Plant now being considered green energy. So your worry might a bit over the top.

Ultimately you have to do what's best for you and your needs, but if possible, I would say to hodl on until the next bull market if you can.  If you look at the historical charts, what we are experiencing now is cyclic and nothing new.

I don't see the current situation as different in any major aspects from 2018. So op, if you've been around since 2017, you've already seen how low Bitcoin fell and how unsure many were that it will ever recover, and yet it did and the current bottom is 2017's ATH point. The environmental argument isn't sound, so I don't think it will actually lead to big international policy changes. The impact will be investigated, and the authorities will figure out that it's not as bad as they thought it was. Bitcoin will most likely recover from the current fall, just like it did before. But if you're unsure about investing, it's a smart decision not to invest, as it always poses some risk.

Well dude, your money your choice. No matter which advice did you get even from the so-called gurus and coaches out there, the final decision will always be yours. I know how it feels because you want to ensure your future.

But of course, everything in life has risks. You can't succeed without taking risks, and that is a reality. Nothing is easy here especially Bitcoin due to its uncertainty in its price movement.

As for me I already took my fear out and started doing dollar-cost averaging (DCA) with Bitcoin since May 2022. I'll continue to do this every month as long I have extra "not beer" money to spare.

My question for you is why the fear of missing out? You need to understand that bitcoin is a decentralized digital currency and the government with their policies implementation can do nothing to stop the continuation of bitcoin and its adoption, this is an individuals choice to make or decide weather to use or not, so here they are not the ones to determine whether bitcoin is to stay or not, bitcoin has it own way of operation and sustainability using the demand and supply principle in determining the rise and fall of its price.

Very correct, the government will like to shy away from such news as it is beneficial to their propaganda, despite the terrible living conditions of the people in the Niger delta as a result of the pollution caused by the oil spill, the Nigerian government doesn't seem to care enough to take appropriate measures to address the life-threatening situation. Assuming this was related in any way to btc, they will bring out their long ban hammer to ban it.
There is no need to allow government or any other kind of fud to influence your investment decision, at least not after all the FUD btc has to survive of and get to this point, the EU government knows btc mining is not nearly as dangerous as other companies with similar energy consumption.

While action against Bitcoin has been taken in the past, it absolutely had minimal effects on cryptocurrencies or Bitcoin itself, it's completely understandable, don't beat yourself to it. We all claim what we'd do in a hypothetical scenario, but in reality, most of us actually hesitate to conduct such trades.

I haven't recently purchased any Bitcoin, because I currently don't have the budget for it, but also because I'd rather not risk money coming from my own salary. Bitcoin could potentially recover in 1-2-3 years, but I can't afford to keep funds coming from my paycheck stale for that long. Since the financial situation is pretty bad at the moment, I can't take such a risk, I might need it in a few months and be forced to sell at a loss.

If you're having second thoughts, possibly try investing smaller amounts into Bitcoin and ask yourself if you're capable of waiting in case it doesn't go as planned. From what I believe and have read, the situation isn't going to get better anytime soon, providing that you're fine with hanging till the bear period is over, you'll be good.

One of the reasons a large country is better off kneeling and accepting that Bitcoin growth is inevitable is that if a large country bans it, it will become a HUGE opportunity for another large country or even a small one.  Because if you have US suddenly banning Cryptocurrencies, Europe could immediately take this as an immense opportunity to grow their own Cryptocurrency market and bring investors over there.

But I honestly believe banning is now more of a strategy than an actual ban.  How many times has China banned Bitcoin or mining already?  How many times did it work?  I think this situation resembles what Musk did.  Use FUD as an opportunity.  If you ban Bitcoin, you create FUD and you can then silently accumulate Bitcoin while everyone is panicking.

All the other FUD, including how 'environmentally bad' we are by mining Bitcoin, is nonsense and has been debunked too many times already.  Right now, if you ask me, we are in the middle of a strategical attack against Bitcoin which only succeeds with the least experienced.  The more you get to know about Bitcoin, the more you will find out they are just attempting to bring it down by finding any small reason to blame it for.

Do your own research.  Try reading other opinions other than what you see in the biggest newspapers because, according to them, Bitcoin should have been dead a long time ago.  They successfully kept a lot of people from investing in what has now become one of the most impressively growing assets in the world, and this should make you wonder.

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Regards,
PrivacyG

Well the worst they can do is ban cryptocurrency payments alltogether! (China, Turkey, even Russia every few months).

But we have already seen that this won't stem adoption by a rabbit's tail, because in these countries there is now a crypto black market. So once you come out of that, you're not scared of any bans. Because you know that they will be completely ineffective.

It's kind of like how a government fixes a rate for its currency, but black market traders sell the currency at higher rates.

It seems you have the facts but that doubt is seriously troubling you.
All I can say is, this ain't new anymore. They will keep on feeding FUD to topple Bitcoin but the same as what happened years ago they will fail on whatever goals they have.
Everything will go back to Bitcoin again once it's all said and done. Short-term this is scary, long-term they will be forgotten and another FUD will come out.

You have some reason - of course, you can make us if it as a basis for leaving crypto forever. In fact, we are not obliged to invest and adopt Bitcoin, and we did this before because of our willingness to take risks. If this Bitcoin never gives you comfort and safety of your funds, I suggest choosing the option that you think was right and makes you feel at ease. But for me, I'm still buying and holding Bitcoin as I'd see the fortune of this project.

Things can be changed someday and we can find a way to continue Bitcoin mining without harming the environment.

I remember the same attacks on Bitcoin and POW long before when this whole story about the pandemic, war and energy crisis started - so it is nothing new and specific to the times we live in now. People asked the same questions 5 or 10 years ago, they will ask the same questions in the future and always look for reasons to doubt.

According to all available data, Bitcoin participates in the total consumption of electricity with about 0.1%, which means that there is no foundation for all those lies that some persistently advocate. A ban on mining in the EU is always possible, although the question is whether all countries would verify this law on their territory, because many member states are not obedient dogs who listen to orders from Brussels.

However, if you have such doubts, you must clear them up with yourself first, because why would you invest in something you no longer trust.

It's normal to have doubts when these market condition happens. Even I am guilty to experience this before when I was a newbie. But as long as you trust bitcoin's potential in the future, what you can do is just ignore these fuds. Many countries have been trying to bring it down many years now but they've never been successful and its price just keep rising over the years.

Your plan was a dumb one to begin with. Why would you liquidate your stocks to buy crypto? They are very very different assets. If you want to invest in crypto buy them with the new money or with your dividends.

In the end bitcoin is indeed experimental tech but it has been around for more than 10 years now. It is not just going to disappear overnight. However it is also a lot more volatile than certain bluechip stocks.

True that, I want to particularly go back to the Issue with the Oil companies in the Niger Delta States of Nigeria and for anyone that has a bit of knowledge of what those companies have done to the environment in those areas in terms of pollution and not even mentioning the amount of energy they consume, then you would understand the hypocrisy with the Government narrative of Bitcoin mining affecting the environment.
THE NIGER DELTA IS ONE OF THE MOST POLLUTED PLACES ON EARTH
So as you have said, OP has the right to his money and what to invest in as do the rest of us, some of us worry about what might happen in the future and forgets that the opposite could happen too.

I just wonder why you liquidated your 10K in stock I mean if I were you I would only take a quarter or half of it, especially when you are making a lot of money from doing so. and why do you still doubt crypto if you are already been a crypto investor since 2017 the government and fud always coming tho?

but here community will help  just like I said don't dump all of your money if you still have doubts, just give a little by little to crypto after all I still wanna join the stock industry like the WolfStreet movie not just in crypto only

in investing cryptocurrencies it has become a natural thing for FUD to occur.

if you have bought bitcoins in the amount of thousands of dollars and want to do HODL for life then what must be done to avoid FUD.
namely by forgetting all the bad news that has spread, always be confident and strengthen the psychological condition. By reinforcing psychological conditions that are generally damaged by worries and assumptions, FUD will not have a significant effect.
do not forget to also maintain discipline in the initial goals and strategies because the loss of discipline if it continues, the impact will be very detrimental in the long-term investment journey.

This indicates that we are in the capitulation phase. It's not the only message of this style that I've seen recently, so it's a good time to buy, when people are throwing in the towel.


Yes but there was a subsequent vote on a draft bill that seeks KYC on all transactions, among other measures, which we discussed in this thread:
    
Goodbye, privacy, goodbye, it was nice while it lasted.

Although it was a preliminary draft and the law has yet to be processed and approved, it has already begun to have an impact, as for example cryptocurrency ATMs that previously did not require KYC below certain amounts have come to require KYC for all transactions, of any amount. This has happened in several European countries.

It is not clear to me what effect this will have on the price in the medium and long term. There are institutional investors who think that more KYC will make it easier for more institutions to invest but regulations and control usually make the business worse and money flows less.

Don't get too soft and be affected by all the words that's written or posted in an online forum. That sentence actually got my attention too but I didn't focus on the word. He could have chosen the word 'sheep' to represent people/countries that just follows or adopts what the first worlds do or say.

The OP has a good point actually. A lot of developing countries adopts financial policies of developed countries. Also, they might be independent but those who govern can't really do much once these world organizations starts requesting (more like mandating) to follow certain guidelines/policies. If they do not follow, expect that they will face sanctions or be included in some blacklist or be given low investor ratings.

Suppose you are thinking about your profits or, in general, the money you have stored or at least the paper value of your money with BTC as the asset. In that case, you can say that you are in it for the money, not the actual asset itself, because a lot of people are probably experiencing the same way that you do and have done the same thing that you do and sold their investments.

It's good that you are already accepting the risk and not being swayed by what is happening around us. It could give you regrets if it dips, just like the bull run and the subsequent crypto winter.

Sticking to your beliefs would be best at times like this.

It's okay for FUD to take hold of you. At least, you are bold enough to admit it. I understand your concern which like you have written is bitcoin's growth being limited if "important countries" ban it. Currently, I think bitcoin has gone beyond the stage of being ban. Instead what the government of "important countries" would do is try to regulate it. My guess is that bitcoin regulation will have nothing to do with its mining activities but rather with how transactions in bitcoin is conducted.

I mean this FUD has been with us since in the beginning and it was magnified in 2018 as far as I can remember and yet we are still standing right now? And even if China bans bitcoin mining, there are still nations going to take that role and continue despite the attacks about it bringing environment issues. I'm so sorry that FUD has taken a toll on you and you have doubts about the future of Bitcoin now, I guess someone is right when they says that Bitcoin investing is not for everyone. Anyways, goodluck to your future endeavors.

Even they'll ban PoW, will they stop people do bitcoin mining at their home's underground or basements?

But if that's your concern and it is making you worry that much, it's better for you to just follow what you think will put you at peace. Putting such pressure on yourself should be avoided.

Anyway, just a tip to reduce the doubts, avoid reading too much conspiracies about bitcoin and negative news about it. Although, it's okay to read those negative news so you still understand and see what are those that impacts the market.

Right, while I definitely agree with most of what you said. Investing now shouldn't be seen as guaranteed returns, and definitely shouldn't be seen as something to make a quick buck on. Bitcoin is going to be effected by the recession, nearly as much as fiat is. Okay, it being deflationary is going to help it in the long term, but for the short term (next two years at least) I'd say we'll be at a similar price point to what we're at now.

The halving should help, and also as people cope better with the recession, buying power should go back up, and therefore Bitcoin should be crossing hands a little more also.

You should get prepared for more desperate attacks on crypto as the industry grows at the expense of fiat currencies. Most people are susceptible because the propaganda campaign works well from the government.

Consider the basic premise that the government endorsed currency that your country holds is designed to inflate and lose purchasing power over time. Now, consider that nearly every country in the world is having record high inflation rates with investors dumbfounded on where to put their money because of low market confidence. It means global markets are down and right now is a great time to invest if a +ROI is your only concern.

In that case, I say that's fair enough. Everyone knows their limits, and while you might be a die hard Bitcoin supporter, it doesn't mean you have to be completely invested in Bitcoin. Honestly, I doubt most users here are fully committed. It takes a special type of attitude to be fully committed.

I still rely on fiat, my job pays me in fiat, and I don't always convert it either. That's the reality for most users here I would think. I wouldn't listen to the elitist attitude that Bitcoin is always better, while it might be true for someone else, it doesn't mean it suits your specific circumstance.

When it bothers you then you don't need to be there because the analogy is when you live in an area and you find an oddity that makes you not feel at home there, will you just be quiet? in this case it is also the same when you are not too sure about bitcoin for what you want to bother being here because this will only make you always worry and events like Panic Selling always happen again and again.

True. Bitcoin will likely never disappear, but if enough important countries ban it, it could severely limit its growth potential.

Sure, it could be banned by climate freaks, but at the same time post office in Switzerland wants to offer bitcoin custody services and we're going to have a spot ETF approved at some point as they can't keep avoiding it forever, especially that it complies with all the rules.
When people tell me that it's going to be banned I always answer with a question. When has the world ever banned something all together? One country bans nuclear weapons, another starts to make more. One country puts an embargo on Russian oil and gas another starts to buy even more because now Russia wants to sell cheaper. The US started the cannabis ban around the world, now it's backing away from it. Bans rarely work.

Bottom line, don't focus on the negativity.

I wholeheartedly agree with your reasoning, but as I'm sure you know, leftist ideologues don't employ logic when pushing their 'green' agenda. They're hellbent on implementing it, even if facts contradict their beliefs. This is what worries me, not whether Bitcoin is actually harmful to humanity.

My first thought is that you're trying to be a trader without having the spine for it. You sold your coins 3 weeks ago, so in other words you held for a while, but as it continued to fall you've decided to make money shorting bitcoin, like a trader, but it bounced back above 20k. Your plan failed and you got even more desperate because math can be painful in such times. You sold at the lows, didn't buy back as it went up, had to pay trading fees. Now you're down more than you'd be if you held, so you want to justify that move by telling yourself that it can fail, it can be banned, it was a good decision to sell. Fine, if that's what makes you sleep at night

Thanks for all the thoughtful input, guys. I do realize that risk and reward go hand in hand, and the possibility of a global Bitcoin mining ban is one of those risks that an investor must assume in order to potentially reap any future rewards.

I've invested tens of thousands of dollars in BTC and other crypto assets over the years, and will HODL for life, even if it means going down with the ship. It's a risk I am willing to assume. The reason I created this thread is because I'm having second thoughts about assuming additional risk. But I'm OK with the risk I've already taken.

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Good point. I did consider the fact that not all countries will be on board with banning Bitcoin mining, but once a critical mass of countries ban it, it could be enough to minimize Bitcoin's potential.  

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My current options are actually to buy more Bitcoin, or invest in the stock market. I only keep a small percentage of my net worth in cash, just enough to cover my living expenses (If bank interest rates were substantial [>5%], I would probably keep a larger percentage in cash.).

As for the option to invest or not, it depends on your beliefs about the subject and you are free to choose because no one is able to provide you with investment advice.
Regarding your doubts about price movement and its connection to the energy consumed by mining, I would like to ask a simple question about the quantity of energy consumed in many industries that are useless or harmful to humanity such as the arms industry, who consumes more energy resources and why we do not find claims to stop or at least limiting them while voices are heard against Bitcoin mining, which will stop with its current system within a specified period of time ?

I could say that not all government or places on the world would really be following the herd or lets say 100% for them to follow and  considering that there are still countries which does have positive approach and treatment on bitcoin or cryptocurrencies as a whole but of course it would be still ending up on being regulated or centralized specially on platforms/services which is attached on it.

If you are really having that plans going for long term then it wont really be that bad because no government could really stop its potential if the entire community would really be mainly supporting it
for more decades to come.

If you could risk up on investing on the amount which you can afford to lose then you wont really be making yourself get bothered with these things.

I meant "chimpanzees" in the generic sense. In other words, I was referring to humanity in general, not a particular race.
 
Why do you leftists see everything through the prism of race, gender, sexual orientation, and other 'victim identity' aspects? Give it a rest. It's gotten old already. 

Your money your choice, you can decide to either hold back and leave it with your bank (inflation will do its part) or buy btc now that price is 3x cheaper than few months back. Maybe what you should do is look up other companies with environmental impact and measure if btc is more dangerous that the rest. It is no news that most countries government always try to come up with some flimsy reason to ban btc. If they claim btc mining has environmental impact what about gold mining? they both use huge amount of electricity and can be considered harmful to the environment. i think btc is overly criticized.

In order to stop Bitcoin, you must stop mining everywhere. You can't stop Bitcoin by stopping some people from mining. Even if mining is prohibited in the EU, it can be mined somewhere. Even the ban on mining in China has not stopped Bitcoin.

Best course of action is to do what you think is right and protect your assets in ways that you believe is better for you. The energy debate has been going on for years and major news outlets alongside huge names in the financial sector only rehashes what has already been said about the topic. While there are some interesting statements pointed out there that supports the argument 'bitcoin wastes a lot of energy', those things can also be said against other industries that does not really help the betterment of the masses at all.

I know that if bitcoin climbs back up again in a few years time, you'll be regretting your decision right now but hey, at least you took off the burden that's taxing for you.

Whenever you have your doubts, take a look at the positives that Bitcoin bring, and see if they're important to you, more than profit alone. For example, removing the issue of relying on a third party I think is vital. I don't like to have some bank handle all my money, and feel unsafe doing so. Even though, in the UK our money is guaranteed up to a certain point. There's also the issue of them blocking transactions whenever they feel like.

This is ultimately a decision we all have to make, and weight the benefits or the negatives. What conclusion we'll come to will wildly differ. However, until Bitcoin ceases to exist, there will be people that use it. Sure, curb your investment if you think there's a possibility of Bitcoin being banned, but I wouldn't necessarily recommend not using it at all if it's still important to you.

Am I the only one seeing this or perhaps, am just getting it all wrong? What really are you trying to imply by other chimpanzees around the world? Could this be some sort of racists statement coming off you, that's so uncool! You don't say things like that!! You just don't!!!
Perhaps you didn't particularly mention Africans in this but, we know better being at the receiving end, you don't do that. African nations formulates policies too and not just follow, they are an independent nation and have got sovereignty over what goes and not.

Yeah, you might have catch a FUD by this news and have take proactive steps that nest suits you but don't in any way look down on Africans.

I SAY NO TO RACISM

Good analogy, but I don't think Bitcoin will ever die or fail, the same way you've seen the negative side of things and analyzed what could happen, also look on the positive side too and also analyze what could happen to Bitcoin as more and more countries start adopting it, Bitcoin is already a legal tender in 3 different countries, more are coming, many big businesses around the world are now accepting bitcoin payments for their good and service, Many new Bitcoin centered businesses are springing up.
There are lots more positive things to come to Bitcoin than the negative, why don't you look on the positive/bright side of Bitcoin and invest in it now that its cheap, instead of looking on the negative side and analyzing things that might never happen, and which will lead you into buying when the price is much higher?.

Do what's best for you and your beliefs. Bitcoin Policy Institute put up some data during the last COP that provides some solid arguments against that energy argument and, if they hold true, will prove that energy use will plateau in about a decade and then decline.

All the while securing a financial system that has no peers.

If price is all that matters to you, and that money is dear to you, you probably did the right thing.

But if Bitcoin is a little more to you than that (not saying price doesn't matter, of course it does) and you're willing to wait it out, as all cycles have come and gone, look to the progress made, the fundamentals that keep getting stronger, and the weakening of the alternatives.

Three weeks ago, I liquidated 10k from my stock portfolio into my bank account. My plan was to dump it into Bitcoin as soon as it dipped under 17k. But now, for the first time since I got into crypto investing in 2017, I'm having major doubts.

I'm beginning to wonder whether Bitcoin has a long-term future, now that much of the world's nations are caught up in this 'climate' hysteria, and want to ban proof-of-work protocols, like Bitcoin, which they claim is harmful to the environment.

For example, the EU recently held a vote to ban proof-of-work mining across member nations*. Thankfully, the vote failed, but this wasn't the first time they attempted it, and I don't think it'll be the last. Eventually, as younger and more 'progressive' individuals enter positions of political power in Europe, my guess is that they'll succeed. And, once they do, the other chimpanzees in countries around the world will follow them, potentially causing the demise of our beloved cryptocurrency.

Thoughts?

 
* https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/