Topic: This captain is ready to go down with his ship. (Read 4874 times)

Sounds plausible.

You say we aren't seeing any real big players investing in btc but that is a naive. What is likely before any major players accumulate is price weakness. The first you will hear about big players building a position is when they want a price lift to sell into.

Actually at the moment really big money simply cannot enter due to the thin trading and small market cap.

Napster was centralised so I don't think is a good comparison. BTC could be superseded by a competitor but I see no sign of that thus far.

Course, if you bought in at 50$ it's probably no big economic loss compared to your investment anyway even if btc dies. The way I see it is that the "big picture" is not gonna happen at least not this year or the next, so why not be smart and wait a little and buy in at lower prices while adoption evolves and big money enters the game (hopefully). Why aren't we seeing any real big players investing in btc yet? Because the wall street guys still think it's way overpriced despite all the good news. Not to forget that there is actually a lot of uncertainty when it comes to btc survival skills. (The Napster story..) That's why. But everyone have different strategies and predictions of the future. Your guess is as good as mine.

Try thinking past short term timescales and price movements and see the bigger picture.

Long run or not. Obviously there must be some reason for you reading the speculation forum. I'm not talking about daytrading. The only thing that could drive the price now is if big money is coming in. That might happen but not at these prices. As we have seen over the past month all the good news in the world just wont do it.



 

yeah and me buying stocks .selling them and buying in again always works sooooo well

I'm in it long term..it works or it don't..them's the breaks

51.5 btc ATM from mining $7.5k investment

It's a bear market without any doubt. Even after all the good news we had lately, it's still a bear market. The technicals are telling us that the price will continue to drop. Won't be surprised if we see btc price fall to under $200 in a couple of months.

So basicly from an investors point of view you should seriously consider getting out now and buy in later. If not you are just stupid or you own 1 coin for buying drugs on SR..

Time to sell!

I guess it's time for this one again? Dido - White Flag

Honestly a bit late in the cycle for that. I don't think we have much lower to go. But then again, you never know.

well if the market is truly being manipulated..by china trades that are illegal in the USA and the no fee exchanges....and panic dumps on drops etc

It could be we are back into the 1880's boom/bust cycle...ie it has to go bust bad in order to boom later

in other words capitalism at its worst.......back then they had like a depression every 7 to 9 years then boom then bust repeat

thus why finance markets have regulations now

so maybe it has to crash big to come back big...then repeat

in other words to hit that 400 usd ave...the swings in a year may be between 200 and 900 or some such.....

anyway I'm holding we are either in a boom or bust pattern or I'm bust

if BTC goes boom and I hold till the end I will make a nice little self...wall paper behind it with paper wallets worthless at that point....put some
tulip stickers on the shelf and add some beanie babies as a good firm life lesson

if it goes the other way I will simply buy the 2nd house to add a shelf of all my bronzed bitcoin miners

either or

I hope that nobody.

I would avoid making drastic sells at this point. I'm also wondering if the media has any real influence over bitcoin at all. It doesn't seem to me like it does. Bitcoin has continued positioning itself mainstream in the face of all the negative "fud" crap from media since "the great crash" and mt gox, all of that. China's ban didn't do much either, just little fluctuations. The bots seemed to have the most real world impact.

The reality is that the media is a joke, everyone knows it's a joke, and nobody who thinks for themselves will act based on what the talking heads tell them. I agree defending bitcoin is a good idea but making moves based only on the rise and fall of bitcoin as per media stories is just bad strategy.

Even if the media continues reporting negatively on bitcoin as prices drop to $100s or lower, the reality is everyone still in the bitcoin game at all at that time will seize that opportunity to buy up as much coin as they can and that is what will drive the price right back up.

Given that the fall in price will soon be sufficient to make it into the major financial press, causing serious damage to the reputation of BTC, now must be the time to truly tie oneself to the mast and defend BTC to the bitter end. That means shifting all net assets into BTC, to soak up all the excess supply in the market, and defend a level higher than 350 (which seems to be the major buying point at the moment).
Who's really prepared to do this?

As I see it, the mistake was not to sell, it was to not re-buy lower. By December, certainly 19th December, the buy signal was in place. Wish I'd been around back then, looks super fun.

Wait, are you still foaming at the mouth? //me gingerly steps out of the room.

Now he understands that getting rich is hard - if you are stupid and scared like he was, you don't

Edward50.
Remember when you said this, back in 2011?


How fucking stupid do you feel now?

How do people have so much time that they can troll a bitcoin forum claiming that bitcoin is dead? Nobody cares what you think, don't you have a job, or a life? Seems like most of the posts are coming from the same person, likely trying to drive the price lower while volume is so low so that they can buy up more cheap btc. The tech is sound, the adoption is growing and retailers are reporting strong sales in btc. There is a strong future for bitcoin or something like it. Stupid kids drooling on their unwashed clothes in their parents basement are the ones claiming the sky is falllllling.

Finally someone who gets it! It seems more people are getting it now.

Everybody wants to get rich here quick, but most will soon realize it isn't that easy.

We'll hit 1200 soon so good job dave man. Now just be pattient and dont do anything stupid .

Bitcoin already has futures that other alts try to implement in a bad way.

https://bitcointalksearch.org/topic/coinjoin-bitcoin-privacy-for-the-real-world-279249


https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki

I'll stick with bitcoin, until something substantially better comes out, and no I've not seen anything that is "better" in a significant way.

Some projects have promise if they ever finish with all the features promised, and function in a way that normal people can take advantage.

I'm not married to Bitcoin "Forever" though. It's probably 50/50 this time next year whether I own any bitcoin at all, or twice as much, depends on what happens.

Once alibaba IPO is over, BTC price will rise again..

If you would put that money in bank you would gain just a little bit more. IF you would buy car, you would have 40% less now after almost 2 years. So you did good decision back then.

Wow...take a bitcoin break, come back and it's where I jumped in!

I'd ask WTF is happening with this downturn from 600s to 300s but I don't want shit thrown at me...plus, I'll read up on what's been going on.

I bought in earlier this year, March April and May and rode it up, but then I cheated...cashed out and bought a new laptop. Then the price started to fall so I sold off down to the equivalent of $25 and forgot about it until a couple days ago. Been watching it fall ever since. I am pro using bitcoin in transactions and I do wish I'd have bought my new laptop in bitcoin but Best Buy had a sale so I pulled it out to fiat to grab it while the door was open.

At the risk of speaking heresy, I am still hoping the price will continue to plummet into the high 100s or low 200s range to buy back in cheap. I have 325 as my red line in the sand...if it gets to that line I'll start buying in or getting ready to. If it jumps back to 450 I'll also jump back in. That's kind of where I got in originally but I do hope it'll drop into the 100s so I can pick up a nice quantity to "hodl" awhile...and of course, start using it in transactions.

I just reeeally wanted that laptop

No, unfortunately, they won't. People are, generally, stupid, and the idea of decentralized money is complicated. Most people won't do even tiny bit of thinking to try and understand the idea. So they won't trust in bitcoin until it has a long proven track record and is considered "safe" on the morning shows, i.e. when they are told "it's ok to invest in it". Somebody trusted has to take the pain of thinking away from them

So no, they will see their fiat burn in flames and they will run to gold / us dollar / random stocks, not bitcoin. Not for several more years.

Many people 'heard' about bitcoin but they aren't interested in it because they don't know what is Bitcoin. They think it's digital money. They think it's a payment system. They think it's a get rich quick ponzi scheme. The problem with bitcoin is that its concept is beyond the capability of most people to understand what it is. People just don't get it, that's why they're not buying

It is possible that we spike back up to the $500 range in about the same timeframe it took us to get from $480 to $380 (only a couple days). It's kind of like what happened to Litecoin a few weeks ago - it dropped from over $5 to $3.50 in the same exact pattern that Bitcoin is following now, then spiked back up to nearly $6. I had a very large short position (too large for the exchange I was on, to tell you the truth - I was chasing sell orders trying to get out for hours and would have been able to get out still in the green if my position wasn't so overly large) on Litecoin at that time and went from +$4,000 at $3.50 to -$2,000 in half a day when I closed my short to prevent further losses, which sucked. I still think the only place Litecoin is going is $0, though. That short-term rise was really just caused by a few crazy Chinese whales and it looks like it's back in the toilet bowl now.

Alternatively, we may float in the $300-$400 range for awhile. I would agree that the large sell-offs for this week are over and I feel like this range is the new normal. We went from $650 being the norm, then to $500, and now all the way down to $400. I say we stick around here for a bit, then either have another crash in mid-October to the $200s or rise up to $700 again and beyond. If Bitcoin breaks out this winter, I expect it to follow the pattern it did in early January of this year - it rose from $450 to $700, and then started zooming up to $1,000. The only difference is that it will keep going if things are really looking strong. I think both $200 and $2,000 is more likely than $800 come January 1st - Bitcoin just doesn't have small and reasonable price changes.

My call? Stay in fiat for now. If another bull market starts (which we haven't had since 2013, in my opinion - even the January rise was really just hopeful speculators who weren't ready yet to accept the bear market), them get the hell in BTC. The market cap is only like $5.5B right now, which is really nothing for an economy this large and with plenty of growth potential. $5.5B doesn't seem like very much when you consider that companies like WhatsApp sell for $19B and Uber has a $10B+ valuation.

Wrong. The ETF is important as it will allow easy mainstream investment into bitcoin by the masses and speculative funds alike. For bitcoin to function as a global currency and investment class it needs to be worth more - actually a lot more. This will provide stability in the longer term.

The obvious question us why are you posting repeatedly on this forum if bitcoin 'is finished'? The answer of course is you are a sentiment troll..

I'm more in favor of some big financial crysis somewhere in the world. Watch Argentina, seems to be the next on the list. Average Joes will then (finally) realise Bitcoin is the smart investment of them all.

No. But I will keep working on my non-currency blockchain related projects.

yeah most of my coin I will get this year and last year came from a knc jupiter last fall...so price has to go below $150 usd for me to start to hurt
on stuff made with that unit...

as to the price fall imho it is all the guys who got into bitcoin say from jan at what was it 990 or some such till this 380 price now...they are just saying
screw it...a lot jumped in when it was around 1100 usd and now a lot are gonna jump out at 380....as to the rest no idea but imho that is where the bulk
of folk are cashing out.....people last year..er not so much..people this summer getting in ..er not so much ...bulk is a loss of faith among the folks that
jumped in end of last year at the ATH and the price now was just too much ..they are out

not sure what this means for bitcoin...but WTF....as I've said before got to have something to talk about at the assisted living when they take all my
stuff away in the future and wheel me in ..don't ya know...so taking a frigging chance

of course if Bitcoin does not work out..I will become in the future as silent about how/why/when I was invested in it as if say at one time you sold Amway

best not to be mentioned at that point...if it all goes boom....PSTD Bitcoin related don't ya know if that happens

Wise choice. No matter if this dip will continue to low $300 or not, still an awesome buy-in price with a huge chances of at least doubling fiat value in less than a year.

^This. Where BTC will be in a week or a month.. who knows.. But if you see an opportunity you'd be a fool not to take it!

well went the opposite way of the panic horde ...if I'm going to be contrary may as well act on such

got 1 btc at $380.01 usd ...now we will see if KARMA gets me for my bold action and drives the price down further

(hey if is all gonna go beanie baby ...a certain amount of delusional fight back is needed don't ya know)

we will all know if my bet is correct or not here soonish

Somebody needs to stick around to counter the idiots like you who are blind to all reason and logic and tell the new members to buy no matter what. If anyone here has listened to your advice, they would have lost pretty much everything by now! You are wrong in every single post you write, and yet you carry on every day like it's business as usual.

My advice: if you want to stay here, do everyone a favor and stop posting. Read, listen, and educate yourself about speculative markets.

The sky is falling sell sell.

You'll be leaving the forum never to return then? .. Oh wait.

same plan here..

Adoption is the real issue. We need more people to adopt bitcoins and see them as viable. I think many people still feel that bitcoins are "fake money" and have no faith in bitcoins.

+1

Many people now know about bitcoin and they aren't interested in it. Most do not value it as a payment system. It is not winning the fight of payment systems. People are not "buying" bitcoin, literally or figuratively. It's time for other applications of blockchain technology besides currency.

Good trader does not let emotion dictate his actions.

If you are really going to do what you stated here, you will become broke very quick.

My advice would be to stay way from exchanges and HODL.
Who knows if an exchange suddenly comes up short

This. Although, I don't think we will see a 2-handle so you might have already weathered the worst of it.

Drop your false hope. The ETF doesn't matter, it's only another way for people to invest in a digital token, it's not an actual innovation to bitcoin and does nothing to make them more attractive to consumers. That's the number 1 problem right now. Outside of this community, nobody is buying bitcoins and using them for shopping. As much as people here evangelize it, there is no good reason for them to convert their cash to bitcoin.

Bitcoin is finished... you need to accept that reality. This isn't 2012: back then, bitcoin was only a play thing for nerds, but there was no actual infrastructure yet. Now we have merchant adoption, but no consumers! And governments are banning! The ship is going down, and you're playing your violin on the deck.

I agree with OP, it's not just about the price, it's the fundamentals and technology, and BTC is here to stay. The lower the price, the more I will buy.

Wise perhaps, but neither one of you are wise enough to realize the consequence of all like investors following this plan.

Give this man a medal for losing money. 

You're right, there is no cure for your condition, but it doesn't mean you have to try and spread it to everyone else.

Check the price a year from now.

Then five years from now.

We will all be laughing our asses off.

People upset not buying when there was no comma in the price.

This is wise!

Don't be a foolish gambler. Wait until you see light at the end of the tunnel. Buy when the rise starts or if you are certain that it will rise sometime in the future.

ditto  for me too.....if nothing else I can collect MORE btc when no one wants it...virtual beanie babies (my precious).....and heck it is better this on a usb card then
collecting cats in the attic in my old age

(I may have slid a bit too far the rabbit hole in all this with BTC don't ya know...just saying)

well if nothing else we can compare who made the bigger 'splat' if it all goes beanie baby.....

at least BFL and KNC and others of a dubious nature will also go splat as well...I just hope if it ever comes to that point they are overextended enough to lose it all

I am really gonna be disappointed if BTC was just another way to spell BFL

He he. To be fair, a profit can probably be turned at this price point due to the all-too-inevitable panic buying that will ensue from said class of people, although a better entry point is likely.

If you can afford to lose, what you invested. Nobody should be concerned at all. Bitcoin is volatile. That's part of the game we all agree on. So far...

Nope.

The ETF is already priced in.

When the market learns that the ETF isn't approved, that's when the price will really start falling. That's when we'll see the double digits. But no one will buy "cheap" coins then either, since everyone will be panicking and waiting for single digit prices.

some good advice here, sell them now while you still can
you see those big walls building up at 400? those going to fall over the order book any moment and drop down another 5-10% price

Been on a buying frenzy the moment it went below $400. I admit, I never saw this coming... sub $400 coins smh

I'm with you all the way captain!  For me, there is no exit strategy.  I'm with BTC until the end.

This fall is definitely not expected and not fully understandable but I belive bitcoin is just falling back to the price it should be at, it's still early times for btc and the price will go back up in the future, it's not the end, far from it!

I guess P.T. Barnum was right

Speaking from personal experience I presume.

That doesn't even make sense.

No cure for the stupid!

Do you now that ETF is already weighted in the price? No?

We already hit $376. It's been dropping in a staircase-like pattern for a few days, which I always see as a sign of continued downfall. Where exactly do you think it's going? Stay in fiat until it starts rising again - there's plenty of time to buy back in.

Bought BTC back in 11 13 2013 when we were at 410.

Then again at 540.

Then more at 600.

I would rather see BTC hit 0.00 then leave now.

I am a firm believer in the technology, which is still sound.

ETF will spark next rise.

We might hit 380 in the meantime but fuck it.

Time to double my holdings for less.

Thank you weak hands and trolls.