Has trading ruined the day for HODLERS? - page 2.

inca

legendary

Activity: 1176

Merit: 1000

Quote from: DeadCoin on November 08, 2014, 06:54:59 AM

Quote from: inca on November 08, 2014, 06:48:53 AM

Quote from: DeadCoin on November 08, 2014, 06:29:34 AM

Quote from: inca on November 08, 2014, 06:26:44 AM

Quote from: DeadCoin on November 08, 2014, 06:21:39 AM

The whole point of bitcoin is to squeeze the most fiat and the most profits out of it. Only bag holders and cultists don't seem to understand that.

I don't think you understand bitcoin at all.

No, you don't. But don't listen to me, you just hodl, while others make money at your expense (I'm talking real money, like dollar, euro, pound)

I am guessing you are a young man with few assets. I wish you good luck trading up your holdings.

All I can say to you, wealth is not measured in bitcoin, it is measured in dollar (and other fiat). You're not wealthy how much bitcoins you have, you're wealthy how much dollars they're worth.

So what you are saying is assets can be priced in different currency units? What if one doesn't live in the US?

DeadCoin

sr. member

Activity: 1246

Merit: 261

★ Investor | Trader | Promoter

Quote from: inca on November 08, 2014, 06:48:53 AM

Quote from: DeadCoin on November 08, 2014, 06:29:34 AM

Quote from: inca on November 08, 2014, 06:26:44 AM

Quote from: DeadCoin on November 08, 2014, 06:21:39 AM

The whole point of bitcoin is to squeeze the most fiat and the most profits out of it. Only bag holders and cultists don't seem to understand that.

I don't think you understand bitcoin at all.

No, you don't. But don't listen to me, you just hodl, while others make money at your expense (I'm talking real money, like dollar, euro, pound)

I am guessing you are a young man with few assets. I wish you good luck trading up your holdings.

All I can say to you, wealth is not measured in bitcoin, it is measured in dollar (and other fiat). You're not wealthy how much bitcoins you have, you're wealthy how much dollars they're worth.

TheMasterKey

member

Activity: 63

Merit: 10

Those who are in it for the long run do not care about this. I am one of those. Couldn't care less.

inca

legendary

Activity: 1176

Merit: 1000

Quote from: DeadCoin on November 08, 2014, 06:29:34 AM

Quote from: inca on November 08, 2014, 06:26:44 AM

Quote from: DeadCoin on November 08, 2014, 06:21:39 AM

The whole point of bitcoin is to squeeze the most fiat and the most profits out of it. Only bag holders and cultists don't seem to understand that.

I don't think you understand bitcoin at all.

No, you don't. But don't listen to me, you just hodl, while others make money at your expense (I'm talking real money, like dollar, euro, pound)

I am guessing you are a young man with few assets. I wish you good luck trading up your holdings.

DeadCoin

sr. member

Activity: 1246

Merit: 261

★ Investor | Trader | Promoter

Quote from: inca on November 08, 2014, 06:26:44 AM

Quote from: DeadCoin on November 08, 2014, 06:21:39 AM

The whole point of bitcoin is to squeeze the most fiat and the most profits out of it. Only bag holders and cultists don't seem to understand that.

I don't think you understand bitcoin at all.

No, you don't. But don't listen to me, you just hodl, while others make money at your expense (I'm talking real money, like dollar, euro, pound)

inca

legendary

Activity: 1176

Merit: 1000

Quote from: DeadCoin on November 08, 2014, 06:21:39 AM

The whole point of bitcoin is to squeeze the most fiat and the most profits out of it. Only bag holders and cultists don't seem to understand that.

I don't think you understand bitcoin at all.

DeadCoin

sr. member

Activity: 1246

Merit: 261

★ Investor | Trader | Promoter

The whole point of bitcoin is to squeeze the most fiat and the most profits out of it. Only bag holders and cultists don't seem to understand that.

Puppet

legendary

Activity: 980

Merit: 1040

There are several significant BTC stashes that will be liquidated soon.
The FTC seized and got permission to liquidate iirc something like 25K BTC from butterfly labs. The Australian government is about to auction 9K silkroad coins. There is the strong possibility that Tim Draper will begin cutting some losses on his 30K auction (or is already doing so). So in the short/medium time, I wouldnt be surprised if the price dropped further or at best remained flat.

Doesnt matter to me, Im still hodling. Ive been progressively selling fractions of my stash from $~10 all the way up to ~$1000 and down to $600. Ever since it dropped below that, I stopped selling. If it drops below $200 I will start buying again for the first time in forever, and I wont resume selling before its above $600 and then continue doing so each month until Ive sold half my initial stash. The rest is a long term pension fund

.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: Kluge on November 07, 2014, 09:51:40 PM

*shrug* Hodlers gonna hodl. So long as the coin isn't needed for life expenses, it doesn't really matter how long it takes the hodl to fodl; it's in a (mental) vault. Traders are short-term and I assume they more-or-less balance each other out, where their influence is really more in creating stability than manipulating any long-term trends (unless there's a significant number with large stakes about to be burned).

Came here to write a long essay on how OP suffers from a misunderstanding of what 'trading' vs. 'holding' does, but looks like you already answered it better than I could have.

Here's my own version of a similar argument anyway:

Traders don't fundamentally change anything. They add a bit of volatility at the beginning of a trend (momentum following), they take a bit of it away at the other end (mean reversion), and first and foremost, they add a modicum of second-level predictability to the market by preying on the first-level predictability of the 'purely intuitive' market participants.

None of that changes the larger fundamental question every market faces: is buying pressure dominating, or selling pressure?

For the past year, it was the latter, and that can't be the fault of traders - they, like anyone else, can only sell a coin they own once before buying it back again.

eizh

hero member

Activity: 560

Merit: 500

HODL'ers haven't realized their capital gains/losses by definition. Traders are playing in their own zero sum game with each other. So neither group has won or lost, nor do they need to at each other's expense. The losers are the ones who are neither - i.e. those that exited with a realized loss.

Snipe85

sr. member

Activity: 756

Merit: 250

Infleum

Traders gonna trade hodlers gonna hodl. I like this explanation. Sooner or later bitcoin is going to explode again or die. There's no other outcome.

Kluge

donator

Activity: 1218

Merit: 1015

*shrug* Hodlers gonna hodl. So long as the coin isn't needed for life expenses, it doesn't really matter how long it takes the hodl to fodl; it's in a (mental) vault. Traders are short-term and I assume they more-or-less balance each other out, where their influence is really more in creating stability than manipulating any long-term trends (unless there's a significant number with large stakes about to be burned).

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

There were traders aplenty at all price points above $1. THere were serious shenanigans going on when the price was $3-$15. I remember when it broke $5 the manipulator (aka the trader with the most money) probably got slaughtered.

DustyRah

sr. member

Activity: 533

Merit: 251

Clearly traders are taking out a chunk whenever possible out of Bitcoin's rise in price. Here is some news about bots trading its pants off automatically:

http://www.coindesk.com/stopcoin-turns-coinbase-account-automated-trading-bot/

Given the dramatic rise in price end of last year, traders rolled into the game and have been chopping off peaks as soon as they can, keeping the HODLERS from making any headway!

Hopefully the economic recovery may draw traders away and leave Bitcoin to a steady rise.

Topic: Has trading ruined the day for HODLERS? - page 2. (Read 2842 times)