If bitcoin is made for times like these why is everyone selling at a time like.. - page 5.

awik p

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Quote from: FlightyPouch on March 25, 2020, 09:40:18 AM

Quote from: Jeremy Franklin on March 23, 2020, 06:04:49 AM

Quote from: WhyFhy on March 13, 2020, 09:23:08 AM

If bitcoin is made for times like these why is everyone selling at a time like this?
China quarantined fiat FFS.
This tells me 100% BTC is only a financial purpose and not a practical purpose overall.

Just venting a little. This selloff is nuts.

There is no need to cry. People will realize sooner or later how good BTC really is. Until then we get super cheap entry prices. I am buying as much as I can, and you guys should do the same if you believe in BTC.

Good or profitable? I think that would be profitable. We all know how volatile bitcoin is; with its decentralization, a lot of people do not want to use it and accept it since there are a lot of quick changes that are happening. We can't remove the volatility of it and at times like this, people would be doing more online payment rather than offline payment though they will obviously not use bitcoin since with the dump that happened, they would rather hold it or they have no other choice but to use fiat since no one accepts it.

logical. at a time like this many people prioritize payment by transfer rather than cash. of course it is good for their health. different from bitcoin despite having a function as a digital payment instrument at first, but with high volatile, more people use it as an investment

FlightyPouch

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Quote from: Jeremy Franklin on March 23, 2020, 06:04:49 AM

Quote from: WhyFhy on March 13, 2020, 09:23:08 AM

If bitcoin is made for times like these why is everyone selling at a time like this?
China quarantined fiat FFS.
This tells me 100% BTC is only a financial purpose and not a practical purpose overall.

Just venting a little. This selloff is nuts.

There is no need to cry. People will realize sooner or later how good BTC really is. Until then we get super cheap entry prices. I am buying as much as I can, and you guys should do the same if you believe in BTC.

Good or profitable? I think that would be profitable. We all know how volatile bitcoin is; with its decentralization, a lot of people do not want to use it and accept it since there are a lot of quick changes that are happening. We can't remove the volatility of it and at times like this, people would be doing more online payment rather than offline payment though they will obviously not use bitcoin since with the dump that happened, they would rather hold it or they have no other choice but to use fiat since no one accepts it.

Elpeor00

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As several users have pointed, bitcoin hasn't been made for times like these
Bitcoin has been made for very hard -or terminal- fiat crisis, the times when nobody, even the governments, want to have nothing to do with fiat, be it because inflationary runs or distrust in the issuers
We now have a economic depression, we can have -most likely, we will- a inflationary run as covid's aftermath, but is not the case, yet

bitgolden

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Bitcoin wasn't created for times like this mate, who told you that? Bitcoin was created so you could be free to do whatever you want with your money while all other people are equal to you and nobody is playing a better hand than you just because they are rich.

The main blockchain part of bitcoin can't be changed at all, sure rich could still manipulate the price of bitcoin but they can't manipulate the blockchain part of it, it will always stay decentralized and will never be forced to do anything people do not want to do. If you are patient about the bitcoin price as well, there is nothing making rich people more powerful in the bitcoin world. It wasn't created against pandemics or crisis or anything, it was created against the governments and bankers who work together to keep the rich richer.

btc78

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Eloncoin.org - Mars, here we come!

we have different traits here in Crypto and we cannot blame others from selling whenever the price of their currencies are falling ,including Bitcoin because investors need to Profit and they are panicking afraid of the longer effect of this Virus.

for those who can manage to HOLD then that is more that better to do but we have our own decision in investing so Respect others and do our own.

Jeremy Franklin

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Quote from: WhyFhy on March 13, 2020, 09:23:08 AM

If bitcoin is made for times like these why is everyone selling at a time like this?
China quarantined fiat FFS.
This tells me 100% BTC is only a financial purpose and not a practical purpose overall.

Just venting a little. This selloff is nuts.

There is no need to cry. People will realize sooner or later how good BTC really is. Until then we get super cheap entry prices. I am buying as much as I can, and you guys should do the same if you believe in BTC.

Japinat

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Not everyone are selling for sure, what you see might not cause by a big number of people panic selling.
You have to consider that the market is still young, if you know that whales do exist, you also know that they are good at, and that is market manipulation.

Look what happened days after you created the thread, did you see bitcoin pump? if yes then you are wrong that people are panic selling, and I am right that whales are just manipulating it.

Kasabus

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Quote from: bhabygrim on March 22, 2020, 10:41:43 PM

It is made for times like this but it is still early and Bitcoin or crypto isn't accepted by everyone yet.
We still couldn't use it to pay for everything we would need that is why they are selling it,
But if they could use it to pay for their food,medicine and bills then I don't see the point in selling it.
If we could only use it that way then for sure it would be the other way around it would drive the price up.

Bitcoin will only become useful in times like these if its already accepted as a global currency. People are not yet ready even bitcoin itself to use it as a payment system. People are selling this time because it's their own way of accumulating more bitcoins while they are still in dips and hold them until the price starts to pump.

Sadlife

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It's because they need to sell to payback the loss in their businesses or stock. But these massive crash are all in the initial stages, if the stocks continues to dump and the fed keeps printing Billions then we might see the money coming back to Cryptocurrency market especially with corona virus terrorizing, and cash is useless. Some countries had switched to Bitcoin and used it for purchase and payment.

carlisle1

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Quote from: WhyFhy on March 13, 2020, 09:23:08 AM

If bitcoin is made for times like these why is everyone selling at a time like this?

because mostly people invested in bitcoin are here to make financial gain and not the virtual,i mean technology that is why each time there is a market crisis expect them to sell out faster,and this is what whales wanted to happen so they can bag our money without noticing this happening.

Quote from: WhyFhy on March 13, 2020, 09:23:08 AM

China quarantined fiat FFS.
This tells me 100% BTC is only a financial purpose and not a practical purpose overall.

Just venting a little. This selloff is nuts.

Don't worry in the end of the day?we will win this battle because we are the Holders will benefits when the market starts to Pump again.

verita1

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We are in an emergency I do not think that the price of BTCitcoin will shoot to the contrary I do not want it to be lower only that it is available to everyone.
Because it can help raise funds to address the health emergency that we are seeing as a consequence of the Coronavirus.

bhabygrim

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It is made for times like this but it is still early and Bitcoin or crypto isn't accepted by everyone yet.
We still couldn't use it to pay for everything we would need that is why they are selling it,
But if they could use it to pay for their food,medicine and bills then I don't see the point in selling it.
If we could only use it that way then for sure it would be the other way around it would drive the price up.

wozzek23

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Bitcoin didn’t stand as much as I expected, instead it kept falling and even to the level I least expected. I was thinking that $7000 was going to be the lowest rate it was heading to, but I’m surprised when I woke up to see that the price has dropped to below $4k levels, that is way more less than I expected.

I can’t even say that bitcoin is a safe haven any longer, though I never believed much on that because I know that bitcoin is a volatile asset. Gold was able to stand through the test, except as of recent when it decreased from $54000 and down to $49000. The reason I’m not much worried is because bitcoin is not the only cryptocurrency that decreased, almost every market was affected.

mlmdaily

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There are not enough true bitcoiners on the market for this

KrisAlex18

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Quote from: WhyFhy on March 13, 2020, 09:23:08 AM

If bitcoin is made for times like these why is everyone selling at a time like this?
China quarantined fiat FFS.
This tells me 100% BTC is only a financial purpose and not a practical purpose overall.

Just venting a little. This selloff is nuts.

Well, that is how a typical bitcoin holder will do, in times where bitcoin dumping happens, there are so many people who will sell it because of being afraid that it will die soon, so in order for this bitcoin not be wasted, they will sell it to have money, how ironic that they know that bitcoin is volatile but they thinking about the die of the bitcoin.

Actually if bitcoin dumping happens selling it is not the best option, investing and holding your bitcoin it this kind of situation is the best thin that you may do because for sure if it bounce back or if it pump again you will earn so much money from investing.

Meowth05

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They might be in dire need of funds to use in the case that there is pandemic. They also might be selling it because they are speculating that the price will go down and that they will buy again later.

wxxyrqa

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Quote from: johnyj on March 13, 2020, 03:56:07 PM

Bitcoin will be the first to rebund after central banks' helicopter money arrives. But as evidenced this time, in a crisis time, people still runs to their fiat money, this indicated that majority of people still do not understand why bitcoin is better than fiat money

Another reason is that almost everything's value is labled with fiat money, if something is purely labled in cryptocurrency, then things might be different

This ^^^

I think the case can still be made that BTC is a hedge against inflation and money printing and NOT so much a hedge against stocks, etc.

Mike Maloney points out in his latest video how Gold fell with all markets back in 2008, but then decoupled and outperformed stocks through the following few year. Given that this crash and government overreaction seems to already be much worse, it's likely that metals and cryptos will massively benefit once all that newly printed fiat is circulated. I'm not sure what the lag time will be though.

Of course, a cryptocurrency that is not subject to inflation will knock out the monopoly from the hands of governments to increase the money supply. If Bitcoin is used for its intended purpose, then in my opinion people will not suffer from the depreciation of their savings. But it seems to me that the current period is not yet the time when cryptocurrency can fully provide stability for each user.

shoreno

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And why they shouldn't ? If you will only go outside and see the situation you will understand why but let say we don't include this situation , people will still sell because they also want to earn a profit but not all people are selling . Those who are selling might have thier own reasons on why they do it . Btc is indeed built for the times like this where government is much sticter . Seems like we are being restricted when we use centralize payment system , that is why we need a kind of decentralized payment too such as btc

webtricks

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Quote from: travwill on March 16, 2020, 10:33:37 AM

Who told you that bitcoin was created for time like this? .

Well, thousands of articles since last several years are telling this and branding Bitcoin as a saviour against crisis. When I read the title, I really liked it because I was expecting this question. People have to realize that Bitcoin is driven by traders psychology, not by some divine force.

Quote from: travwill on March 16, 2020, 10:33:37 AM

Today, bitcoin is the same financial asset as everyone else. It is important for you to understand that people own bitcoin and people control it too. And they, as a rule, are important financial component in the first place.

I differ a little on this. Bitcoin is not same class of financial assets like stock market or even gold. It is expected from stock market to fall in such condition because traders feel that such pandemic will reduce the profits of companies so they tank the share price in advance. However, bitcoin is different. It is not dependent on the performance of any company or organisation. It is independent and its value depend upon the psychology of holders. It was interesting to see that many investors thought the value of bitcoin was overvalued and they went on to liquidate their holding.

dalibord

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Crypto failed at establishing itself as a replacement for traditional financial tools.
Then again the biggest impact on the price of BTC have the largest whales. And they like the current position of the fintech. They made big bucks on it, why would the usher a change? Change is bad for them...
There are lots of small fish in the sea, and only a few whales, but fish have a herd mentality. And the whales will always end up feeding upon them. Facts.
Until the richest people/institutions decide that they want BTC, the price will skyrocket. (don't hold your breath).

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