What can one say but the IQ of this place has always been inversely proportional to the price of btc v USD
Topic: The life of a late adopter - page 2. (Read 3142 times)
One of the biggest problem with bitcoin late adopters, it seems to be more about the fiat
What can one say but the IQ of this place has always been inversely proportional to the price of btc v USD
What can one say but the IQ of this place has always been inversely proportional to the price of btc v USD
Ironically it's people like you that make the price tank.
If you sell just because you think the price will drop (with no intention to rebuy once it does drop) and not because you absolutely need the money, you are just fueling the drop.
Or just trying to preserve any remaining value of their original investment, like a sane investor.If you sell just because you think the price will drop (with no intention to rebuy once it does drop) and not because you absolutely need the money, you are just fueling the drop.
Quote
Never invest money you can't affort to put aside for a long amount of time. And only sell when you got profit or when an unexpected event happens and you really need the money.
Or upon re-evaluation, come to the conclusion that the time horizon to profit comes with too much riskQuote
You only make a gain or loss when you decide to sell. If you bought Bitcoin for $800 and its currently at $227 you didn't make a loss unless you actually sell them. If you wait, price may recover to $1000 and you may actually make profit. Patience is important in trading. Patience makes money, impatience makes you poor.
This is a strawman argument. Compare OP to a new investor whose basis is now $227. If the price goes to $1000, new investor now has more profit than the OP, whose only problem is having paid too much (basis cost too high). Why did he pay too much - because of the drum beat of the hodlers (according to OP).It's normal for OP to blame the drum-beat in this situation.
On the way down, a person who bought at $1000 and sells at $200 loses less than a person who bought at $1000 and sells at $10 (e.g. at the point of complete market failure / loss of confidence).
Venture Capital companies do a lot of due dilligence when it comes to "throwing good money after bad", why shouldn't OP?
By repeating the mantra that BTC is still in Beta / don't invest more than you can lose, the message is that everything to do with the price in fiat is a gamble.
Is the BTC world a casino?
Well, you can invest any way you like, but when I invest something, I consider the money lost. And it keeps being lost until I decide to take back the profit, if any.
If it loses all it's value, too bad, I don't rely on that money anyway, just like I dont rely on money I used to buy goods or gifts with.
I mean what's the difference between spending $2000 on a holiday or investing $2000 in bitcoin?
You can consider your money gone in both cases.
If you already considered the money gone, you don't need to worry, and can just ride out the bear market until the bull market arrives. And if it never arrives, well, that's just one less good/gift/vacantion you can buy. You'll get over it.
OP, for as much as you could have possibly spent in Bitcoin, I doubt you come close to Tim Draper.
He doesn't look too worried - neither should you.
There's a lot of capital and a lot of investing in Bitcoin, it ain't going to end tomorrow.
He doesn't look too worried - neither should you.
There's a lot of capital and a lot of investing in Bitcoin, it ain't going to end tomorrow.
Ironically it's people like you that make the price tank.
If you sell just because you think the price will drop (with no intention to rebuy once it does drop) and not because you absolutely need the money, you are just fueling the drop.
Or just trying to preserve any remaining value of their original investment, like a sane investor.If you sell just because you think the price will drop (with no intention to rebuy once it does drop) and not because you absolutely need the money, you are just fueling the drop.
Quote
Never invest money you can't affort to put aside for a long amount of time. And only sell when you got profit or when an unexpected event happens and you really need the money.
Or upon re-evaluation, come to the conclusion that the time horizon to profit comes with too much riskQuote
You only make a gain or loss when you decide to sell. If you bought Bitcoin for $800 and its currently at $227 you didn't make a loss unless you actually sell them. If you wait, price may recover to $1000 and you may actually make profit. Patience is important in trading. Patience makes money, impatience makes you poor.
This is a strawman argument. Compare OP to a new investor whose basis is now $227. If the price goes to $1000, new investor now has more profit than the OP, whose only problem is having paid too much (basis cost too high). Why did he pay too much - because of the drum beat of the hodlers (according to OP).It's normal for OP to blame the drum-beat in this situation.
On the way down, a person who bought at $1000 and sells at $200 loses less than a person who bought at $1000 and sells at $10 (e.g. at the point of complete market failure / loss of confidence).
Venture Capital companies do a lot of due dilligence when it comes to "throwing good money after bad", why shouldn't OP?
By repeating the mantra that BTC is still in Beta / don't invest more than you can lose, the message is that everything to do with the price in fiat is a gamble.
Is the BTC world a casino?
Finally I started a boring ass career, but one that makes a pretty large amount of money (not to brag) and I was like, ehh fuck btc I don't have time for this. I would check in and see it go down, each time buying one here, three there, and telling myself, this is awesome btc will make me profits and I will be able to hide my money there from banks and the tax man (yes, I am paranoid and greedy.)
...
So if you have not reached this stage yet of realization, stop buying and get out while you can...it is the average douchebag late adopter like me that has born the consequences of bitcoin.
Others don't quite think like you:
I was honestly going to buy several coins form gox. I know I fucking hate myself, but i'll take the gamble if it means I'll get compensation to offset the decrease in price per coin. The problem is they have that ten day shit for wire transfer so at that point I would have either missed the boat or been screwed anyways.
Instead I used btc to buy some gox btc on bitcoinbuilder. Probably got scammed there for all I know.
Best case scenario, gox gets the coins, gives me them, bitcoin goes back up, profit.
Middle scenario, Gox doesn't give coins, bitcoin goes back up after their demise, ill still be ok.
Worst case scenario, gox doesn't give coins, price continues to plummet, I lost anyways.
At least I aided a poor victim of gox by purchasing their coins.
I just wouldn't risk everything (as in your entire coin budget) on it.
Instead I used btc to buy some gox btc on bitcoinbuilder. Probably got scammed there for all I know.
Best case scenario, gox gets the coins, gives me them, bitcoin goes back up, profit.
Middle scenario, Gox doesn't give coins, bitcoin goes back up after their demise, ill still be ok.
Worst case scenario, gox doesn't give coins, price continues to plummet, I lost anyways.
At least I aided a poor victim of gox by purchasing their coins.
I just wouldn't risk everything (as in your entire coin budget) on it.
You went into Gox hoping to make some coins off of a likely scam and ended up losing a bunch. Average Bitcoin "adopter" didn't/doesn't jump into probable scams in hopes of making money off of others getting screwed over.
(Plus, the whole we are still in early adoption thing.)
I had the same feelings in 2011/early 2012.
If you can wait long enough your perspective will change.
If you can wait long enough your perspective will change.
BTC currently costs ~100X (about 100 times) more than in late 2011/early 2012 and some people think the 100x price is some kind of a problem... ?
Well, I'm considered a late adopter having joined barely a year ago. I bought my stash from the recent drop and as the price goes down further, I slowly buy again. I never buy big at any one time because I can never know how low it could get and whether it is the right time. Right now, I'm still putting hope onto it.
I'm a way later adopter than you are. Missed the $1000 price dump like dodged a bullet.
I think you should consider preserving at least one coin, in case it really goes to the moon someday
I think you should consider preserving at least one coin, in case it really goes to the moon someday
We are still all early adopters. Bitcoin is still in its early ages. There has been movement but nothing drastically over-the-top to account for another "stage".
We are not "early adopters" if by "early adopters" you understand getting rich quick. But yes, we are still soon enough to make great gains in the long term.What? Bitcoin came out in 2009. It is going to live on for hundreds of years. If not more. Explain to me please how we are still not early adopters in this beginning stage? Your logic appears to be flawed.
#1, nobody got rich quick in Bitcoin. Not even the earliest adopters. They had to wait longer than you've been waiting.
#2, people paid $1000 because they saw the future potential. That potential is still in the future, and the only thing that changed is the current price. Mass adoption and block reward halvings will still increase the price dramatically.
#2, people paid $1000 because they saw the future potential. That potential is still in the future, and the only thing that changed is the current price. Mass adoption and block reward halvings will still increase the price dramatically.
The healthy choice, it seems, is to just hodl and wait, don't obsess.
I give it 5 years. If by then nothing significant has developed, it's finished. Of course, by then, it should be pretty obvious.
Might as well go "all or nothing"
I give it 5 years. If by then nothing significant has developed, it's finished. Of course, by then, it should be pretty obvious.
Might as well go "all or nothing"
I agree it's going to be either boom or bust, I see it highly unlikely to be in between. In 5 years it should either be worth $10K+ or next to nothing.
Like all the others said, you are an early adopter. If you bought in today you would still be an early adopter.
This btc experiment we all are a part of, it is an experiment. In the truest meaning of the word.
Sounds like you have not invested more than you can afford to lose, so why so upset?
It also sounds like your game plan is right on.
If this experiment succeeds, if btc is the "one" you will be sitting pretty. Many of us will. If it succeeds, that means the whole world will be using btc or btc related tech, then, those new to it will be the late one's.
I understand your malaise, the btc scene is mired in some topor of late. The doom and gloom brigade are coming out of the woodwork.
The healthy choice, it seems, is to just hodl and wait, don't obsess.
I give it 5 years. If by then nothing significant has developed, it's finished. Of course, by then, it should be pretty obvious.
Might as well go "all or nothing"
This btc experiment we all are a part of, it is an experiment. In the truest meaning of the word.
Sounds like you have not invested more than you can afford to lose, so why so upset?
It also sounds like your game plan is right on.
If this experiment succeeds, if btc is the "one" you will be sitting pretty. Many of us will. If it succeeds, that means the whole world will be using btc or btc related tech, then, those new to it will be the late one's.
I understand your malaise, the btc scene is mired in some topor of late. The doom and gloom brigade are coming out of the woodwork.
The healthy choice, it seems, is to just hodl and wait, don't obsess.
I give it 5 years. If by then nothing significant has developed, it's finished. Of course, by then, it should be pretty obvious.
Might as well go "all or nothing"
Count me in as a late adopter douchebag BTC holder, as I got into this late 2013.
Me too, December 2013!
I had the same feelings in 2011/early 2012.
If you can wait long enough your perspective will change.
If you can wait long enough your perspective will change.
We are still all early adopters. Bitcoin is still in its early ages. There has been movement but nothing drastically over-the-top to account for another "stage".
We are not "early adopters" if by "early adopters" you understand getting rich quick. But yes, we are still soon enough to make great gains in the long term.
We are still all early adopters. Bitcoin is still in its early ages. There has been movement but nothing drastically over-the-top to account for another "stage".
Ironically it's people like you that make the price tank.
If you sell just because you think the price will drop (with no intention to rebuy once it does drop) and not because you absolutely need the money, you are just fueling the drop.
Never invest money you can't affort to put aside for a long amount of time. And only sell when you got profit or when an unexpected event happens and you really need the money.
You only make a gain or loss when you decide to sell. If you bought Bitcoin for $800 and its currently at $227 you didn't make a loss unless you actually sell them. If you wait, price may recover to $1000 and you may actually make profit. Patience is important in trading. Patience makes money, impatience makes you poor.
If you sell just because you think the price will drop (with no intention to rebuy once it does drop) and not because you absolutely need the money, you are just fueling the drop.
Never invest money you can't affort to put aside for a long amount of time. And only sell when you got profit or when an unexpected event happens and you really need the money.
You only make a gain or loss when you decide to sell. If you bought Bitcoin for $800 and its currently at $227 you didn't make a loss unless you actually sell them. If you wait, price may recover to $1000 and you may actually make profit. Patience is important in trading. Patience makes money, impatience makes you poor.
Bitcoin is not a get rich quick scheme.
Look at how much people bought in at +$900 thinking it will go above $2000-$5000 in a very short time.
It's more than a fact that there is a large group of people who got burned due to their greed.
And after a while they mostly blame Bitcoin for being nothing more than a ponzi, etc.
Every one with very low market knowledge that thinks he or she can get rich very quickly is nothing more than a gambler.
There is a reason why whale traders make millions in profit........
If you bought some bitcoin as an investment then sold a week later, you can hardly call yourself "an adopter". Especially if you keep all your coin on an exchange (don't know if you do or not).. I mean you kind of have to use the technology a bit to say that your "an adopter" early or late. And it's still early btw.
we can at later if it will showing epic rise again later
let see it
let see it
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