Topic: idiots dumping the price (Read 2315 times)

You missed the key point about Bitcoin - it is not a get quick rich scheme.
You were not supposed to invest your life saving; you were supposed to invest only what you could afford to lose.
You have to be patient and if you are lucky, Bitcoin might just rebound.

I bought at £8.70 and spent them all so...

I'd venture to say that lots of newcomers come here and invest because they have seen what kind of rallies bitcoin can have and that by waiting for a better price, one can miss the boat. It really does take time for someone to get seasoned in this new frontier territory to get a better handle on things much like those pioneering into western lands entering the great unknown back when. It's easy for those of us that have been here or in the community for a long time and have learned certain things to laugh and/or ridicule the newer folks that buy at an absurd level and while stating the truth or the obvious, all we're doing is putting a bad taste in their mouths. The healthy thing is to help them understand how things work so they can become a stronger and more confident trader/holder or whatever, not badmouth or getting joy out of the bitcoin diaries of said people. just sayin

You've done your part for Bitcoin. Bitcoin needs suckers like you to keep going. It's zero-sum; for every win, there is a loser. Bitcoin needs a continuous supply of losers pouring in money and losing it. You're one of them.

Thank you for your service.

The first question is, why have you put your life savings into bitcoin? If you're not so sure about a thing, then never take part in it. I don't know why there are so many newbies attributing the price drop to the bitcoin foundation. Have you tried asking the whales and the real manipulators?

Unless the person is for real and truly did put in their life saving and is now so distraught over the situation that they're hopped up on prescription drugs and elbow deep in a bottle of booze venting their heart out on here. This isn't a good place for therapy.

It's so funny when you read the so called Bitcoin capitalization : over 2,5 billions USD not 5... be correct

Capitalization means that 2.5 billions USD really exists "somewhere". That many people came with their fiat currency and they bought Bitcoin shares lol .

Where are the money? Of course, they do not exist at a such level (2,5 billions) and they will never exist.

The share price is in relation to earnings and net assets that determines the price if a stock is over or undervalued. Shares represent a fraction of ownership in a business. Now, is BTC like any other commodity
or is it a company? If it is a company.... then each people who buy 1 BTC is shareholder and it must earn a part of the BTC profit. where is the "profit" ?

Shares represent a fraction of ownership in a business.  

You see how stupid is this system?

OK. You will tell that BTC is a currency. A currency is regulated by a central authority in order to prevent any scams/abuses. Who does regulate Bitcoin, exchangers in order to protect the people?

Troll. Pretty much all newbie posts here are trolls trying to get a rise out of those gullible enough to think what they are reading is for real.

You tried to become rich overnight and this is what happens when you try that.
The poor stays poor unless you have a lot of luck, guess what, you are shit out of luck.

No, they would not need to make you rich.  Other than the obvious (illegalizing it & watching the price tank), think of all the nearly bankrupt megamines  that could be bought for a nominal fee, to fork Bitcoin into irrelevancy

Nobody told you invest in Bitcoin at first place and it was your decision , so only YOU are responsible for your deeds.
Same could have happened if you had invested in any stock , so rather than blaming everyone , get your s*it straight.

and the banks would crash bitcoin how exactly?
they would need to make me rich first by buying bitcoins to the moon to get any reasonable stake at this game.

I don't think , maybe you are right... he was the ones of first that "dump " . Don't feed the troll...

So can you tell me who are the smart guys, and what can make this situation to clear up. bitcoin community is desperate for anything to make this work. But it just keeps falling.

I'm assuming he took his loss..
So we'll probably be the ones celebrating on his panic sell.

No one have obligated you to buy bitcoin , it was your personal decision/choice. However in a long term we will be victorious don't worry.

*facepalm* all your life savings?
Look, I'm a Poker player. I never play with more than 10% of my bankroll (money I'm willing to "invest") on one table. How this translates to crypto investments, don't invest more than 10% of your bank account or savings. That way you can always buy more to average out, or just get out relatively unharmed. Obviously I don't stick to these rules, I'm a student and money does come and go and I don't have bottomless amounts of it, I've invested up to 1/3 of all my money at times (not much, still 4 digits though). But I'm up on crypto pretty massively and I fucking LOVE the ride.

When you invest don't just go "hurp durp all my savings time to buy", just stop and think. What will I do if it drops by half, will I feel confident enough to buy more to average out, will I get the fear, will I be sat worrying about my money because of this choice? If so then change your fucking numbers (EDIT: to ones you can emotionally handle) jeez. Remember your kinda gambling.

I've been considering getting into stocks and shit because of crypto, but having looked over it - compared to crypto it just seems fucking boring as SHIT. Crypto is just madness and I love it. Let me tell you something, even if Bitcoin fucking goes to $10 I'll still be here playing around, trying to catch the waves. Not to mention all the uses for this technology.

If you've got balls, just fucking hold. We've just been through a big phase of consumer adoption, which caused pretty big mainstream business adoption. What do they do? Sell it straight for fucking fiat. What else do they do? Paste "we accept Bitcoin" all over their walls for all their mainstream customers to see. We may have another big consumer adoption phase coming. But hey I could be totally wrong, but this is what I assume.

Don't just dump your money in it and hold anyway that's boring, play around. Daytrade a little... Buy some off exchanges and sell for more (or to cover your daytrade losses) on LocalBitcoins (watch out for scammers, there's risk in that of course).

Just get involved and enjoy it. Take every piece of hype and shit with a piece of salt. And if you're not having fun, psh. Maybe you're playing the wrong game.

What am I doing posting in this section of the forum anyway goddam...
I must be drunk.

No, it's not all our fault. It's all your fault. What were you thinking putting your life savings into something a market cap of only $5 billion? You fucked it up yourself, and until you take some responsibility for your decisions instead of blaming unrelated people, you'll just keep on fucking up until you've lost everything.

Don't let the door hit you on your way out.