Topic: What have you been doing with your Bitcoin in light of the price drop? - page 2. (Read 3909 times)
August 20, 2014, 10:54:18 AM
Just waiting for the price to rise again.
August 20, 2014, 10:41:50 AM
holding since my first btc, i want to accumulate a good amount, i don't care about the current price to be honest
This is the best mindset to have. These fluctuations are probably just minor teething problems in the grand scheme of things. If yousee the potential value in bitcoin just keep holding and don't worry about it.
August 20, 2014, 10:34:38 AM
holding since my first btc, i want to accumulate a good amount, i don't care about the current price to be honest
August 20, 2014, 10:22:57 AM
i do nothing. i am fresh out of btc
August 20, 2014, 10:15:25 AM
Hold and buy some more every day. 
August 20, 2014, 10:13:59 AM
Buying and spending. Just like when the price is up. 
When it's down I do a little more buying than spending. When the price rises I do a bit more spending. Basically everything I buy, I buy at a discount.
I would hope that the drop in price would somewhat encourage people to spend some of their coins. I think one problem that the bitcoin related economy has is the fact that there are too many people hording coins. I would argue that this is preventing merchant adoption from expanding faster then it is because even though accepting bitcoin is very cost efficient, less people spend it then there really should be. When it's down I do a little more buying than spending. When the price rises I do a bit more spending. Basically everything I buy, I buy at a discount.
Holyshit, the stupidity coming out of your mouth.
Spending btc is just like selling btc on the exchange because all merchants are using gateways such as bitpay or coinbase. If the price drops, that means theres MORE selling than buying.
August 20, 2014, 09:01:44 AM
Quote from: puwaha
My miner doesn't generate enough BTC to matter what happens to the price. It's dismaying to see the price drop, but it doesn't hurt me in the long run. It's the investors who are worried... generally not the miners, unless they are upside-down on that as well.
If it rallies, then my meager mined coin will be worth more. If not, then it was a fun experiment, and I learned a lot.
If it rallies, then my meager mined coin will be worth more. If not, then it was a fun experiment, and I learned a lot.
This seems to be a fairly common point from miners. What I don't understand is this: if you need the price to rally for your mining to be profitable, aren't you just better off buying bitcoin? Much less hassle plus you can liquidate whenever you want, unlike your mining equipment which probably has very little resale value given how rapidly the technology is improving.
I'd say no. There is no guarantee that there will be a rally. Buying and holding is just as dangerous as mining in this respect. Now, if you spent a small fortune on your mining gear, then yeah... maybe you should have just bought your coins. The simple fact is... there will be winners and losers in the buy/hold game. Most will lose.
The way I see it, mining increases (albeit, slowly) your holdings in bitcoins sort of like an automatic faucet that will eventually dry up. Buying coins requires a lot of willpower to drop it in an investment, and is a bigger mental hurdle. I didn't invest a lot of money in mining, and I'll probably lose out over the long run. But I don't see mining as an investment... just a good way to get your feet wet and generate some coin.
August 20, 2014, 08:47:41 AM
Price swings do not affect my long term holdings.
I think there are still users who remember the dramatic crashes from ~$31 and ~$260 and the following "depressions".
Also, intraday volatility was a lot worse before 2013.
I think there are still users who remember the dramatic crashes from ~$31 and ~$260 and the following "depressions".
Also, intraday volatility was a lot worse before 2013.
August 20, 2014, 08:43:13 AM
I am buying more and more of Bitcoins and hoarding them.
Its a good long term investment
I expect to earn atleast 200$ per coin/
Its a good long term investment
I expect to earn atleast 200$ per coin/
August 20, 2014, 08:39:03 AM
As I earn, I spend.
New CPU water cooler on it's way from this months work. Thanks Stunna and PD
New CPU water cooler on it's way from this months work. Thanks Stunna and PD
August 20, 2014, 08:30:34 AM
When bitcoin prices fall I sell because it is worth less.
When it goes back up I buy because it is worth more .I am 100% sure people do this
This is the kind of people we need. When the price drops their are selling their btc cheap and when the price goes up they buy the coins and pump the price even more.When it goes back up I buy because it is worth more
.I am 100% sure people do thisP.S. I know that you don't do it.
August 20, 2014, 08:18:39 AM
Like always, spending, earning and trading. Things didint change for me at all.
August 20, 2014, 08:14:16 AM
When bitcoin prices fall I sell because it is worth less.
When it goes back up I buy because it is worth more .I am 100% sure people do this
When it goes back up I buy because it is worth more
.I am 100% sure people do thisShould do opposite and buy low sell high.
August 20, 2014, 08:11:59 AM
When bitcoin prices fall I sell because it is worth less.
When it goes back up I buy because it is worth more .I am 100% sure people do this
When it goes back up I buy because it is worth more
.I am 100% sure people do thisHAHAHAHAHA!!!!
August 20, 2014, 06:44:23 AM
Diversifying into alts
August 20, 2014, 06:24:56 AM
I am guessing many speculators are playing catch the falling knife.
Many will probably end up in full bloody hand.
Many will probably end up in full bloody hand.
August 20, 2014, 05:39:14 AM
want to saving and spending when the price is up..
August 20, 2014, 05:27:44 AM
I've been doing nothing the same I always do. Once you've been in bitcoin a while thre crashes and bounce backs are normal. Sure, I got worried the first time it happened but now I just carry on and my hope is for what bitcoin will be worth in the near future, not today or tomorrow or even later this year.
August 20, 2014, 04:53:27 AM
Buying and spending. Just like when the price is up.
When it's down I do a little more buying than spending. When the price rises I do a bit more spending. Basically everything I buy, I buy at a discount.
I would hope that the drop in price would somewhat encourage people to spend some of their coins. I think one problem that the bitcoin related economy has is the fact that there are too many people hording coins. I would argue that this is preventing merchant adoption from expanding faster then it is because even though accepting bitcoin is very cost efficient, less people spend it then there really should be. When it's down I do a little more buying than spending. When the price rises I do a bit more spending. Basically everything I buy, I buy at a discount.
Holyshit, the stupidity coming out of your mouth.
Spending btc is just like selling btc on the exchange because all merchants are using gateways such as bitpay or coinbase. If the price drops, that means theres MORE selling than buying.
August 20, 2014, 03:56:16 AM
On sale, bargain hunting
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