I'm dumping my bitcoins so you should - page 12.

mandica

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Quote from: bitcoinboy12 on June 20, 2016, 11:29:34 AM

Quote from: RobinHoodster on June 20, 2016, 09:26:02 AM

I'm not gonna dump my bitcoins these days because it has a great future a head and if you are dumping them now you simply will lose a lot of profit in my eyes.
Its gonna rise more and more in the upcoming month..

No, absolutely not. Not now. I won't let go of a single coin. Not now. I still believe it would shoot up sometime soon.

You are very brave. I believe you will be rewarded in the future. For people who bought the coin in 2010, they are rewarded.

bitcoinboy12

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Quote from: RobinHoodster on June 20, 2016, 09:26:02 AM

I'm not gonna dump my bitcoins these days because it has a great future a head and if you are dumping them now you simply will lose a lot of profit in my eyes.
Its gonna rise more and more in the upcoming month..

No, absolutely not. Not now. I won't let go of a single coin. Not now. I still believe it would shoot up sometime soon.

RobinHoodster

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I'm not gonna dump my bitcoins these days because it has a great future a head and if you are dumping them now you simply will lose a lot of profit in my eyes.
Its gonna rise more and more in the upcoming month..

Cozynunu

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Quote from: Torque on June 17, 2016, 01:00:40 PM

Quote from: JimboToronto on June 17, 2016, 12:40:49 PM

Forget FOMO.

What's at play here is RAHMO... regrets at having missed out.

Actually, people that have any regrets about anything related to bitcoin don't understand the whole point of it being a currency/exchange of value. It has to be continuously bought, exchanged, and used whether some years ago, yesterday, now, tomorrow, 5/10/20+ years from now, and forever in the future, AT WHATEVER THE EXCHANGE RATE IS AT THE MOMENT.

This whole idea of missing out on Bitcoin is like saying "You know I had a chance to buy and use some [USD/Gold/Oil/whatever] some 40 years ago, but I completely missed out back then. So I've never used it since and I'm not going to use it now."

At $1 people used bitcoin.

At $750 people are using bitcoin.

And at whatever the exchange rate will be in the future, people will still be using bitcoin (and since deflationary, I'm sure that the future exchange rate will be higher).

There is no "missing the boat", because the boat is continuous.

Dumping will be now really bad and that is because the value of Bitcoin started to rise so you can maybe earn some profit soon with Bitcoin and that is nice.
And the hard thing is also that the value of Bitcoin is always changing.

Herbert2020

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Quote from: yhansky on June 20, 2016, 08:44:04 AM

Im waiting for the right time to sell my coins.. bitcoin is worth waiting for.
So hold ,earn, in the end youll be the winner.

i agree. bitcoin is one of those investments that has a lot of potential for growth and profit, especially since it is still considered cheap even at this price.

besides there has already been a big rise so i don't mind anything since i have bought it a long time ago at the very bottom of the price.

yhansky

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Im waiting for the right time to sell my coins.. bitcoin is worth waiting for.
So hold ,earn, in the end youll be the winner.

mandica

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Quote from: chaosknight on June 17, 2016, 04:14:20 PM

Quote from: HarryKPeters on June 17, 2016, 04:04:48 PM

Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

Price may go down after the halving when people will sell their coins at the time of halving, but selling now cannot give higher profits so its better to hold for next few days.

That could happen. But the price is also suppressed due to the slow transaction caused by the small block size, if that is increased, the price will rise again.

techgeek

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Quote from: chaosknight on June 17, 2016, 04:14:20 PM

Quote from: HarryKPeters on June 17, 2016, 04:04:48 PM

Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

Price may go down after the halving when people will sell their coins at the time of halving, but selling now cannot give higher profits so its better to hold for next few days.

Its a possible scenario, but at the same time it can have a chance to grow even further.

Only because people holding it like almost everyone is, promotes new buyers to come in and this creates even further price points.

d5000

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Quote from: Yakamoto on June 17, 2016, 02:57:12 PM

Your scenario is very valid, but Bitcoin will more than likely begin to become more stable once the halvings become small and the investor base is relatively large. Due to Bitcoin being very new and open to a lot of influence, a little news moves the market a lot, and it'll take a lot of money and confident investors to begin flattening it out.

Many people are hoping this. But at the same time most of them speculate with a pro-cyclic strategy (buy low, sell high and get out untill there is a new bottom). Because of the high volatility, a pro-cyclic strategy in Bitcoin can be very profitable from an individual point of view. But from a more "general" point of view it exaggerates price swings and lowers Bitcoin's usability as a medium of exchange. I don't see an end of this boom-bust cycle.

I think the community should slowly think about measures to mitigate volatility in an active manner:
- Create smart contracts like in Bitshares that are pegged to a traditional currency (I think it's not possible with the actual code, but a "secondary protocol" like Counterparty or the new PeerAssets could implement that). This stable token should be tradeable for Bitcoin in the client.
- Create marketplaces where traders that "back" Bitcoin (e.g. sell for the same price even in a BTC/USD downtrend) are shown more prominently than those that take BTC/USD as a base for their prices.
- Or even create a group of anti-cyclical traders, like it was already tried in the 2013 uptrend.

chaosknight

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Quote from: HarryKPeters on June 17, 2016, 04:04:48 PM

Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

Price may go down after the halving when people will sell their coins at the time of halving, but selling now cannot give higher profits so its better to hold for next few days.

HarryKPeters

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Dumping now is a very very hard decision. The price can and I think eventually will go down. Question is when?
My hope is not for at least 2 weeks, which is why I am holding.

Yakamoto

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Quote from: d5000 on June 17, 2016, 02:36:00 PM

@Torque: That's a valid point of view. But there is a problem. If Bitcoin wants to be a serious medium of exchange, it must take measures to mitigate volatility.

Imagine you are a poor worker and get paid your salary in Bitcoin. You are so unlucky that just the day you get paid (after you already received your BTC, obviously), the price plummets down 10%. Now as you are a poor worker and really need all the money of your salary, these 10% mean a lot for you, and you won't be able to pay all your bills.

So until the volatility problem is not solved, there will be no massive use of Bitcoin as a medium of exchange or "currency", because it lacks of the "unit of account" property. It will be only used like a stock - an investment you can buy and sell, maybe some very-short-term remittances (when risk is limited) and maybe if you get some profit you may even pay some goods or your bills with BTC.

The is the issue of having a free market, as well as having large supplies of a resource available early on that becomes scarce relatively quickly.

Your scenario is very valid, but Bitcoin will more than likely begin to become more stable once the halvings become small and the investor base is relatively large. Due to Bitcoin being very new and open to a lot of influence, a little news moves the market a lot, and it'll take a lot of money and confident investors to begin flattening it out.

The halvings also have to be smaller than they are, an issue that will be solved in roughly 12-20 years.

d5000

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@Torque: That's a valid point of view. But there is a problem. If Bitcoin wants to be a serious medium of exchange, it must take measures to mitigate volatility.

Imagine you are a poor worker and get paid your salary in Bitcoin. You are so unlucky that just the day you get paid (after you already received your BTC, obviously), the price plummets down 10%. Now as you are a poor worker and really need all the money of your salary, these 10% mean a lot for you, and you won't be able to pay all your bills.

So until the volatility problem is not solved, there will be no massive use of Bitcoin as a medium of exchange or "currency", because it lacks of the "unit of account" property. It will be only used like a stock - an investment you can buy and sell, maybe some very-short-term remittances (when risk is limited) and maybe if you get some profit you may even pay some goods or your bills with BTC.

fkvidar

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I will never dump my coins as price will be really high in future and I have made great efforts to earn it so it doesn't make any sense to dump it at any stage of my life.

Torque

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Quote from: JimboToronto on June 17, 2016, 12:40:49 PM

Forget FOMO.

What's at play here is RAHMO... regrets at having missed out.

Actually, people that have any regrets about anything related to bitcoin don't understand the whole point of it being a currency/exchange of value. It has to be continuously bought, exchanged, and used whether some years ago, yesterday, now, tomorrow, 5/10/20+ years from now, and forever in the future, AT WHATEVER THE EXCHANGE RATE IS AT THE MOMENT.

This whole idea of missing out on Bitcoin is like saying "You know I had a chance to buy and use some [USD/Gold/Oil/whatever] some 40 years ago, but I completely missed out back then. So I've never used it since and I'm not going to use it now."

At $1 people used bitcoin.

At $750 people are using bitcoin.

And at whatever the exchange rate will be in the future, people will still be using bitcoin (and since deflationary, I'm sure that the future exchange rate will be higher).

There is no "missing the boat", because the boat is continuous.

JimboToronto

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You're never too old to think young.

Forget FOMO.

What's at play here is RAHMO... regrets at having missed out.

umaOuma

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BitAficionado

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d5000

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Today is the first time I think the OP could be right and it's time to sell.

It's possible that the 780 USD were the local top of the actual rally. I may be wrong, but my arguments are the following:

First, the price rise was very fast. A fast price increase means that the market gets more dominated by speculators and less by real users. That increases volatility and the risk of a crash.
Second, I see more greedy newbies in the local forums. Greedy newbies are only in for the money, let's face it. And they tend to be nervous and unstable investors, they will panic in the smallest event.
The last little uptrend up to 750 had some properties of a dead cat bounce (low volume, little confidence)
And last but not least: the DAO hack is impacting the sentiment of the cryptocurrency community. Many "Ethereum" folks are also Bitcoiners. It may be the trigger to a more bearish view of the future.

That are the reasons why I'm increasingly bearish now. It may go higher still, but I don't expect the rally last much longer - at most two weeks.

manselr

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Topic: I'm dumping my bitcoins so you should - page 12. (Read 35657 times)