Topic: Seeking validation, am I crazy? (Read 1759 times)

Yes.   I actually was going to have a garage sale too but my weekends have been too busy.  Then I was depressed thinking by next weekend the price will be twice as high and my garage sale values will have been cut in half.

I am learning to be content with the BTC we have and thankful that we at least have some this early on in the "game."  Sure, it is later than some of those early miners, but we are still on the ground floor!

My husband and I invested just a little right before the crazy boom.  We put a little more in as it moved up because we could not believe how crazy the investment was.  It is hard not to get addicted to those kind of returns!  I found myself dreaming about BTC.  My kids were like, "Why are you talking about bitcoins all the time?!"  To which we responded, "We have never had an investment quadruple in a few weeks!!"  So, yes it is easy to get obsessed.  Then when it crashed, it is hard to not be depressed too.  Thankfully, the averages of our investments are around $120 per BTC so we have not been under very long.  It would have been nice to sell some higher to buy more lower though.  It is hard to play that game and there is some worry about keeping our coin on an exchange with the fear of hacking, so we are just sitting on the few we have for now.  I think you are normal.  

+1 For the love.

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While it is difficult for many of us, it is important not to get too obsessed and addicted to bitcoins.

Don't put all your eggs in one basket =p

no worries here m8, you have simply just become one of "The Men Who Stare At Gox"

Typical BMS¹ Syndrome, move on.


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¹Bitcoin Mania Syndrome

I have considered this, but you have to figure in the retail side of things. Getting people to buy your stuff is not all that easy. For my wife's shop we would usually pay on average about 30% of the retail price. But from there you need to factor in getting people to actually buy your product. Advertising costs money, if you have a product and you are selling online (she was mainly a local store which had its own overhead to factor in) you need to either have the product shipped to you and stored so that you can then pack it up yourself and ship it or you can do drop shipping where the wholesaler ships for you, but then you have to deal with more competition of other drop shippers and the fact that you cannot inspect the quality of the item before it gets to your customer which could tarnish your reputation. And then you have people who take up your time asking all sorts of customer service types of questions about the quality of the item, the speed of delivery, money back guarantees, etc. And if there is anything wrong with the product you need to refund and have it shipped back to the wholesaler or have your name tarnished.

Meanwhile, you have your product sitting there advertised for sale while the price of bitcoin goes up when you could have just converted your money in the first place.

I am not saying selling things for Bitcoin is a bad idea as opposed to simply exchanging, just that there is a lot that goes into it.

that answer is easy. YOU become the exchanger.
parents give you the dollar, you give them BTC, the kids give the school BTC and you swap the Dollar with the school. with ofcourse a 1-3% swap in the middle for personal profit or to give a back hander bonus to your boss

Quite a lot of value

Imagine having $1000 by the time its in mtgox/bitstamp/bitinstant its normally worth 5% less ($950) you then end up buying bitcoin nearer to the high price then the low price of the day, adding on another 1-2% ($930). which today lets call it $111 average will get you 8.38BTC.

Now imagine you have a wholesaler that sales products 20% below retail price. Your $1000 becomes worth $1200 and if you set the bitcoin exchange rate at the 15 minute low (lets call it $105) you can get 11.43BTC without the worries of ID validation with exchanges or 2 day delay.

Simply because people hand you the 11.43BTC for $1200 worth of goods. and you pay your fiat to the wholesaler, not a bitcoin exchange.

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OP, I can confirm this.  I check this site way too much.  During the time when it was getting DDoS'd, I got a lot of shit done.  Now, I have to keep checking back here to make sure I'm not missing any important BTC related news.

Anyway, as others have suggested, the cure is to be determined to stay off the stuff for a while.  I, for one, have been putting off my work all day for this site, so I'm going to stay away from Bitcoin for at least a few days.

Good, I was hoping so.  Then for the rest of it, let me say you are not alone in nearly anything you've said...all the way down to craigslist and I'm even getting picky with too many lights on and unnecessary waste.  Every dollar I normally wouldn't have thought twice about spending, is now a bitcoin investment opportunity wasted. Remember, you're only an addict if you go to meetings.   . Kidding of course but, hey...it's hard not to be passionate.  Bitcoin rocks!

The next step is trying to figure out what value you can create by starting a bitcoin business.

do you have a wife, girlfriend or a sister between the age of 18-30? they sell very well on craigs list (i joke)

I 100% agree. I've been watching the Tony Coleby Chart 1.8% daily with interest.  Any time we get near the blue line, I buy.

The alcohol reference was mainly for humor, concern is appreciated.  My main point is that I'm now and forever a bitcoin addict and am seeking solace in the fact that others have the same affliction.

Anyone else look around their house to determine what would sell on craigslist for a quick btc turnaround?

I love how people panic at every price movement or think the bubble has burst, it has in fact not burst. Bitcoin is still on a growth path not a decline. The reason I say this is because a lot of people base everything on the high price. not the average or low (base) price.

so here goes.

http://i41.tinypic.com/2hzwpf.jpg

The lowest prices is where your mind should be concentrating on if your a long term investor. If and only if bitcoin goes below the LOWEST price of the previous month, should you then think the bubble is bursting. Speculators will always ramp up prices beyond natural value, but if you treat the baseline (low's) as the true value marker where no one will even dare sell lower then that as its not of value to them to sell lower, you will see we are on a constant upward trend.

so as long as the price does not drop below $51 in May, and then in June the price does not drop below whatever the lowest price May ends up having. you should never have a depressing nights sleep again.

I have experienced this for a couple of weeks, but the bubble burst and more sustainable bitcoin projects helped me put things back into perspective and take some distance.

I am convinced that Bitcoin is definitely a forthcoming revolution as a payment method and/or store of value, but we are definitely only at the very early beginning of this.

I see no problem here, except the alcohol use.  I hope it was a joke but if not, might I suggest finding a better way to deal with disappointment.  No matter how much money you ever make, you can destroy everything with this type of reaction to negative news.  I'd love to say I'm sorry for the lecture, but I'm not.  Please heed my warning.  I don't have to know you to care about you.  Please...please, please.

/Dad hat off