Topic: SELL EVERYTHING!!!!!!!! (Read 865 times)

I still do not know why people like the OP complain and whine over everything. No one is even stopping anyone from doing whatever they want to do, he can go back into his well and highly manipulated monopolized fiat system for all we care rather than crying here because he either bought at the top or he is just too greedy to think that the market will just keep going up for life. That really shows how low his level of understanding is like someone rightly said.

And then after going to battle without equipment, he ended up coming back home to tell us how he lost because the battle was manipulated . Honestly, the way some people like OP talk sometimes make me to wonder how some people really think.

Trading is absolutely not for everyone and he was just lucky he made that amount anyway which I do not know if he was actually whining because of $110 or $110,000 since what I can see there is a dot, but then losing it all as a result of incompetence and finding who to blame for his mistakes. He should really get a life.

I know this is nothing new and that we see such panic threads every time when the Bitcoin price goes down.
But what makes me sad is the number of users who are not familiar with basic facts how the market and Bitcoin are functioning. And I have the feeling this number is growing instead of getting lower.
Is there any way this could be changed?

Just keep on buying because no matter what happen this market will go up eventually, your patience is important here. Don't sell everything because you're of panicking, sell if its based on your study so you will not regret it.

Stop being pessimistic. Backdrops are definitely normal and is something on not to be afraid of. Patience is the key. Just wait for recovery to take place. While the market is red, as at this moment, take it as an opportunity to invest. Once the market value starts to rise, profit will then be earned. Avoid selling because it will negatively affect the demand as well as its market value or it just simply makes the situation worse. Just invest now and be calm. Recovery will soon take place.

Well, man, if you really want to make your point, then you at least can try to correctly explain yourself, to make an argument, and to write it properly. I mean: you are talking about how Bitcoin is a pyramidal system when the most of the people are losing their money in order to others to get profits. But, how do you prove it? can you show us some statistics, something besides your word?
Also, you say you have been trading for a year, that's not a lot, but, maybe you have learned a lot, ok. How can you explain to us how much you have learned? Which experiences did you have? With which cryptocoins did you trade? Your earns were in dollar, euros or what? Which exchanger/exchangers did you use? ...

So, I see a person here trying to advice other about ... what? Because this is not even clear!!
You suggest we all need to stop trading/investing/whatever we are doing with bitcoin right now? Imagine someone tells you the same last year with no further explanation, would you listen? I don't think so.
So, please, mate, if you are trying to make a point (such a big one) please, make an effort if you truly believe in it (if you re not a troll), and explain carefully why, ok?

This is a kind of trader that goes to a battle without proper equipments and strategies to follow so the result is a totally lose. Trading is a complicated industry so anyone go there without proper knowledge will just wasting their money for nothing. One best strategy is you must have a limit, like if you reach that certain amount you will stop and don't try to continue because you just feel luck comes to you that time. Maybe trading is not for you so go try other things you think suit to your personality.

This means you use to be NOOB?because you have profit 110,000 before you realized all of this?what i can say is SELL ALL YOURE STUFF AND GET THE FUCK OUT OF HERE.no one wants you to be here lol

This is the exact problem with limited understanding of how the crypto market operates, one wrong move or decision doesn't necessarily mean that everything is a scam, i suggest you do your research well and increase your understanding of the crypto market.

I’m not agree because bitcoin don’t need such a big amount of investment you can join it from a little part of your amount and when I was joining bitcoin so there was not too much money with me and I take a start with low money and now I have a lot of money if you don’t have money to invest so there are also other options to earn from bitcoin so I think bitcoin is one of the best currency in market so no need to sell things.

actually in crypto trading, nothing is really lost. as long as it is able to withstand when the price goes down, this will be one of the successful investments when the price returns to origin aeau even more. because after the price decline, there is always a significant price increase. surely it is one of the sciences I have learned

OP we are similar i join since 2017 here but my investing really going good and i'm proud that i already earn in xrb and in eth with bitcoin of course,i still continue to do trading here and i add xrp in my investing i think i still hold this until 2019 actually 3x of my profit in trading are already cash-out so i'm not scared to continue my investing,i think you invest in wrong coins because you lose a lot you need only to read their future plan about the coin so in that move their coins will really become high in the future.

I never trade bitcoin to fiat...  only spent for things directly

It's totally depends on how you perceive what OP said, if you think that reading his post somehow manipulating nor hypnotizing you then you should think the other way around. OP just want to point out that this whole market is manipulated and we're just like a puppet that just followed whatever these big whales has to say. It's quite true but we still continuing here because of the profit that we can't get from anything and every where and most likely blinded by the truth.

Hello Vladimir,


You are right of course.

I will also tell you my story.  As I'm libertarian-inclined, free/liberty money is something that always interested me, and I was quite close to the developments of David Schaum's e-cash in the 1990-ies.  That was a total failure, and when I heard about bitcoin in something like 2011 or 2012 for the first time, my idea was "been there, done that, silly stuff that doesn't work", and I didn't give it any further attention.
However, for totally unexpected reasons, I looked deeper into it in 2014, and I found the cryptographic scheme quite brilliant.  I believed the "currency on the internet" stuff, I was acquainted with the Austrian school, and most importantly, in 2014, bitcoin had its bubble just before, which I didn't take part in.

My idea was that an asset that had known a speculative bubble and burst, would be "cured" of all speculative temptation in the future, and as I believed in the "money of the future", I bought some (around, on average, $300 per coin).  But it continued to decline slowly.  So I tried to estimate the "fundamentals" of bitcoin, which, if it is a currency for real, can be estimated by Fisher's formula (total amount of money, velocity, and total amount of stuff bought with it).  There was Silk Road of course, and some other stuff.... and my estimation came out to something like $10 or $20, as the fundamental, Fisher-formula induced price of bitcoin.   I thought to myself, I'm an idiot, I sell everything, and buy back when it is a few tens of $.  So I sold... in January 2015, the lowest point, around $200.  I lost $100 per coin.  I expected the down trend to continue until bitcoin hit its fundamentals.  But no, it started rising again !  So I thought that my estimation was wrong, there was more bitcoin usage than I realized.  I bought back in around, yes, $300.  The very slow rise seemed to go on par with its currency usage adoption... until the slope became too steep.  That was not on par with reality.  In the mean time, I learned about Nash ideal money theory, and I realized that bitcoin, being a collectible, can never be a good currency.  In fact, it is not a currency at all.  It is a speculative asset.  It is one of the purest forms of speculative asset.  

I also had another problem with bitcoin.  When there was the bitstamp hacking, and people were chasing the thieves, I realized that bitcoin's transparency was extremely dangerous.  I looked into more privacy-oriented coins, Darkcoin (now DASH) and Monero, and bought  some at ridiculously low prices, because my idea was that bitcoin was now a dangerous form of money, where all your actions are graved into stone forever and visible to anyone.

But if bitcoin is not a currency, and if its price is not made by the tension of offer and demand for its usage as a currency (that's what Fisher's formula expresses), then where does the value of bitcoin come from ?  The answer is: "from a greater fool's belief".  Bitcoin is the purest form of recursive belief.  I don't believe that bitcoin has any fundamental value, but that doesn't matter, as long as YOU believe it has value, I can rationally accept bitcoin against value, because I can sell it to you.  And you maybe don't believe honestly in the value of bitcoin, but as long as Joe believes in it, you can do so too, because you can sell your coins to Joe.  And so on.

Now, there are two solutions to this game: a bubble, and a "store of value" version.  The bubble version is that you think that you will find people that will pay much more for the asset than you have to pay for now.  In other words, you're a fool buying the stuff, but you hope to find an even greater one.  That's like a pyramid game: in the end you run out of greater fools, but it is the last layer of fools (the greatest fools) that pay for the benefit of all their predecessors.  
But there's also a steady-state solution to it: you're not expecting MORE than you put in it, but you consider that it is a safe heaven for the value.  You're not looking for a "greater fool" but for a "same fool".  Gold is like that.  Nobody expects to make benefit by holding gold.  But you are convinced that if you buy gold now, it will still hold that same value 60 years from now (give or take a small factor).  Gold that will buy 10 houses now, will most probably also buy about 10 houses 60 years from now (maybe 3, maybe 30 houses).  You do not expect that gold to buy you a whole town 60 years from now, nor do you expect to being able to buy simply a bicycle with it.  That's a sustainable form of "equal fool".

Now, bitcoin seems to play in the "get rich quickly" scheme, that is, the greater fool stuff.  Almost the only reason why people buy bitcoin, is to sell it later at a higher price, not, like me, to try to use it on Openbazaar or buy their VPN/VPS services with for privacy.  That's pure "greater fool".  That has to end one day, because, as you say, it is a pyramid game that stops when one runs out of greater fools.

I don't know if we just witnessed that.  Are there still enough greater fools on earth, that will make the people that bought at $17 000 rich ?  That is to say, are willing to pay $170 000 for a coin ?  With what hope ?   To sell it for $1 700 000  a coin ?  Seriously ?  Who would buy it at $1 700 000 a coin ?  A fool thinking that he'll be able to sell it at $17 000 000 ?  Really ?   In fact, maybe.  I'll tell you why: alt coins.

If bitcoin were alone, the above phrase should make you think that nobody is going to buy bitcoin at $170 000.  But then, why did some idiots buy at $17 000 ?  What were they hoping for ?  But that was already the case at $1700:  who was expecting, one year ago, that you would find idiots buying at $17 000 ?  But without that, what's the point of buying at $1700 ?

But now, there are alt coins.  With alt coins, you can continue to play this greater fool game without ends, because one day, bitcoin rises, the next day, bitcoin falls, but ethereum rises, and the third day, ethereum falls but cardano rises, etc....

You don't have an *asset* any more, but you have a *market*.  With a market with several assets, rising and falling, newcomers jumping in, oldies dying, the "greater fool game" can continue forever, with limited market cap, because the capital that is in coinX today, can move to coinY tomorrow, and to coinZ the day after, without the need of NEW greater fools.

That's exactly what the financial world is.  The derivatives market is 10 times bigger than earth's economy.  So all that is hot air, but nevertheless, big finance plays in this since years.

It is, as you say, a big zero-sum game.  It doesn't create any value, but it is a casino.  There are losers, that pay for the winners.  But the losers continue playing, with the hope of being the winner one day.  And all economic value produced by people is eaten by that monster.

Well, the whole crypto market is evolving towards that finance market, but "on steroids".   Why would financial gamblers (big banks etc...) be satisfied with a volatility of half a percent per day, if they can have 20% in the crypto market ?  Crypto is way, way, way more interesting as a big finance casino than "real-world derivatives".  It is international, opaque, decentralized, you don't know who the participants are....

And that's why I think that this market will grow.  I think the crypto market will eat the derivatives market in the long run.  That useless, dangerous beast that fucks up all of sensible economic action, and dictates human and political action by its shear financial muscle will get doped by crypto.  Its booms and busts will make a crisis like 2007 pale in comparison.  And the control will be entirely opaque, international, and without any oversight.  This is going to go sky-high, and destroy everything on its way.


It is much more sophisticated than that.   The whole derivatives market of big finance doesn't make sense either.  But it is what dictates our society.  For the moment, there are still legal restrictions on those markets, but crypto will eat all that.

This is why I think that bitcoin at a million $ is thinkable - except if bitcoin dies earlier with its clunky devs.

No shit. If you don't know what you're doing and is blindly investing in bitcoin uneducatedly then it's no wonder that you have lost everything that you've invested in. I'd like to correct you, bitcoin is not like bitconnect. Bitconnect is a ponzi, while bitcoin is a currency. Bitcoin is not a scheme that promises you infinite returns, it's a free market, if more people believe in the potential of bitcoin then the price will naturally go up.

Learn these basics before you even attempt to trade anything.

Cryptocurrencies have a long way to go. While the price may drop in the short term the long term price should hold up and continue to grow, in my opinion.

It is probably the choice of yours if you wanted to sell everything and lose it all. Or turn to the other side of the book in which you'll just trade again to get it back and gain MORE! I bled a little in some point of my life in which I really hated trading at that point. I lost amounting 9000 USD. And what did I do? I still trade and I got my lost and I'm back on my track. So you got to chose whether you continue your journey here or lose it all and bled for nothing.

Good points of view vladimir21, I read your post and you explained it step by step and there is some logic. I see that you have great trading skills and I can just say something to you, make your own scheme and don't quit.

I understand what you feel mate but if i was you ill never quit and i will continue to trade cause you will repent when someday you will see the price reach the all time high value again.  You cannot recover you lose if you quit . And indeed the volatility of price always occur which  is so unpredictable and it can affect to much in our profits when we keep holding while the price is dumping.  However i suggest to don't hold while the price is decreasing if you don't want to lose again Much better to sell then buy back when the price increasing again. .

That's just nonsense. The few noobs on this forum that might potentially end up panic selling because of whatever clown on this forum tells them to do so, are so insignificant, that it won't have any effect on the market.

This forum has never been a place where whatever form of "advice" should be taken for granted. People's "advice" here is as trustworthy as "advice" coming from people in the well known exchange troll boxes.

Even kwukduck with all his fud and nonsense didn't have any success in making people sell in panic, and that while he has been here long enough, and consistently kept fudding and trolling the speculation section.