Topic: Was it ever this hard to hold? (Read 1629 times)

Yep, if they want more of this sort of business then offering these incentives is a great way to urge that sector of their model to grow. That's when the super savers shopping effect will take hold in newer users and potential users' minds.

Right now merchants dip their toes in bitcoin because 1) it's easy to setup 2) they get their USD faster and 3) they save on credit card fees. Once they have used it a while and gotten at least a little bit comfortable with it (assuming that does in fact happen), they will start to pass the incentives onto consumers. Some merchants will do that quickly, others will take years.

Just as digital, unregulated currency is a great idea in theory, a portable 3D game system also sounded great and the Virtual Boy created a lot of buzz at the time. We all knew some idiot who sunk $300 of their allowance money into one, and even though they soon realized it sucked, they felt the need to defend it to their friends. "Nah, it's pretty cool, just don't listen to the haters," they'd say, before complaining about the headaches and stiff necks suffered from using it.

These are the same people who are now saying, "I'm holding bitcoin because I believe in it." Well, I still think a pair of portable, 3D peripheral goggles are a really cool idea, but that doesn't mean I'm heading over to ebay to buy a Virtual Boy. I also think a global, trustless, digital currency that can't be manipulated by any government is a good idea, but there's got to be some kind of incentive to make the switch, and 2014's performance is a giant red flag to anyone who values their hard earned money. Bitcoin also has many security issues to overcome before it can be taken seriously. I've seen little progress on this front in the two years I've been involved in this.

So why get involved and suffer all the headaches? Basically, everyone outside of the bulltards on these forums understand this.

This isn't an issue if you're only buying what you're willing to lose.

You may roll your eyes at that phrase, but its true.

You should only be buying with what qualifies as "chump change" for you.

Any other method and you're a degenerate gambler

-B-

Well unless you bought anything before 2014, you are sitting at a large loss but you are not alone.

Who knows what will happen

If you bought in during the first week of June 2011, you wouldn't have been back in the black until the end of February 2013.

Bitcoin is not a VirtualBoy nor a candy.
Seems to me most of BTC not participating in the trading. So its the trading part that we need to focus on perhaps?

Yes it's difficult for me to hold as well. I've bled out half my BTC in the second half of 2014 but it looks like it was the right move. Dropped another 10 yesterday at $290. Even if we're only down here for a short period of time, cost average selling guarantees I only sell a small amount for too cheap and but guarantees that if the worst case scenario plays out, I don't walk away a loser. Panic do nothing is about the worst strategy one could take because then you're truly at the mercy of forces you have no control over.

I've also learned to just be happy with profit. Only a very few lucky ones can buy right before a rise, and then sell at the peak perfectly. A little over a year ago I was super bummed I sold my mined stash of LTC for an average price of $12 when it hit $45. But today it's less than $2 and I know someone who just never sold period, convinced it was going to go beyond $100.

Some of the bulltards just don't get it and are bound to ride it out all the way to the bottom.

Bitcoin fundamentals still work, but that doesn't mean that regular people want it! The Nintendo Virtual Boy worked just fine too, but nobody wanted them. That's our situation now with bitcoins, and we're printing 3,500 new Virtual Boys every.single.day.

What do you think that does to the price? Just look at 2014 and 2015.

I sympathize with OP.
Seems longterm trendlines have been broken, so 240s or maybe 220s could be on the horizon. There aint no rebound, no volume, no Shock and Awe sentiment yet, trend reversal remains a mirage.
p.s. Ive been hodling and acumulating (selling a bit here and there) for 2yrs and as someone here said - hodl me I'm scared! 

I keep holding but I am losing a lot

BTC was more fun last year when i could make money just by sitting on the beach and bragging to my friends

This ain't nothing, kids. Tell us about your greatest fears in life. At the end of the day it is just cash cash dollar dollar. Yet the coin remains strong. Play on.

BTC sometimes makes fast turns and by the time you are sure the trend is up, you already missed a chance to buy near the bottom.
^^^
The above is what happened last spring when Bitcoin "crashed" below $400 and bottomed at ~$340. When the rebound hit, it was at ~$540, 560, $580 before many "trend-followers" had a clear signal to buy.

Exactly, you want to buy when people are overselling, it looks like the market could be a bit oversold at 260$.

I agree, it's worth the effort! At least long term for sure.
I don't dare trading, like I wouldn't dare climbing a mountain: without experience it feels just too risky.

when everyone is selling, you should buy, that is , if ure looking for profits.
just coz the price is declining right now, doesnt mean it wont gu up and away at some point.

If you invest in a growing company you really don't worry what the share price is doing at the moment, all that you are worried about is that the company is healthy. If by "making money" you understand speculation on a monthly or daily scale, then think again, it's not making money, it's gambling. Yeah, people can gamble on bitcoin price, also satoshi dice or casino, but expecting to always win is unwise.

Waking up and finding out your life savings just dropped in value by 6% will do that but still holding because i believe in it.
This is the time when you see most of the people trying to get rid of it, atlest the unbelievers. 

Why would someone invest in risky long-term assets just to watch teh hashrate grow?  Please understand that, unlike yourself, most people tend to invest in hopes of making money, not losing it.

Date Registered:   November 25, 2013.  Yep, you must be getting pretty fidgety just about now.