Some are just trading to make profits. Cash out now, buy back in when price corrects. Gain more coins.
And I for one believe the bitcoin economy isn't yet where price is.
Topic: What's the deal? - page 2. (Read 2999 times)
Where is the evidence that most of the "early adopters" cleared out? This conjecture was also posited after the June 2011 bubble but later shown to be false.
So please explain why the huge exit?
Where is the evidence that most of the "early adopters" cleared out? This conjecture was also posited after the June 2011 bubble but later shown to be false.
Also, if you want your threads to be read, try to come up with more descriptive titles.
Also, if you want your threads to be read, try to come up with more descriptive titles.
Probably not "so many" cashing out. Just one would do. There are some early adopters out there that have maybe over 10 000 or maybe 100 000 coins available. Enough to bring a serious blow to the economy if they sell everything at once.
I'm actually glad that someone cashed out yesterday. In doing so he devided his bitcoins amongst a couple of thousand people and will not be a threat to the economy in the future. His sale wasn't big enough to totally crash the market, it just corrected it. Now we have a short period where everyone who is scared tries to get out and everyone who was eager to get in gets in while prices are low.
Don't worry, bitcoin will be on the rise again soon.
I'm actually glad that someone cashed out yesterday. In doing so he devided his bitcoins amongst a couple of thousand people and will not be a threat to the economy in the future. His sale wasn't big enough to totally crash the market, it just corrected it. Now we have a short period where everyone who is scared tries to get out and everyone who was eager to get in gets in while prices are low.
Don't worry, bitcoin will be on the rise again soon.
The bottom is dropping out again as I write this. The main issue I have with it is that it shows the world this is a money making scheme. Not a valid currency.
I would say most of the sales were from the newest influx of buyers, who havent experienced the lag or volatility of the market before. They are likely to have the least understanding of bitcoin and thus be the weakest hands.
Prices go up, prices go down
The people who panic are mostly armchair speculators who borrowed money thinking that 5% a day growth was perfectly normal!
Give it a week or two, and everyone will have forgotten about this blip, as we are still at prices that would have seen insane only a month ago!
I remember the prices of bitcoin hitting $31 in February, and everyone was happy - hitting x10 that value a few weeks later is just insane - even if it is very likely to hit $1k by the end of the year!
The people who panic are mostly armchair speculators who borrowed money thinking that 5% a day growth was perfectly normal!
Give it a week or two, and everyone will have forgotten about this blip, as we are still at prices that would have seen insane only a month ago!
I remember the prices of bitcoin hitting $31 in February, and everyone was happy - hitting x10 that value a few weeks later is just insane - even if it is very likely to hit $1k by the end of the year!
Probably not "so many" cashing out. Just one would do. There are some early adopters out there that have maybe over 10 000 or maybe 100 000 coins available. Enough to bring a serious blow to the economy if they sell everything at once.
I'm actually glad that someone cashed out yesterday. In doing so he devided his bitcoins amongst a couple of thousand people and will not be a threat to the economy in the future. His sale wasn't big enough to totally crash the market, it just corrected it. Now we have a short period where everyone who is scared tries to get out and everyone who was eager to get in gets in while prices are low.
Don't worry, bitcoin will be on the rise again soon.
I'm actually glad that someone cashed out yesterday. In doing so he devided his bitcoins amongst a couple of thousand people and will not be a threat to the economy in the future. His sale wasn't big enough to totally crash the market, it just corrected it. Now we have a short period where everyone who is scared tries to get out and everyone who was eager to get in gets in while prices are low.
Don't worry, bitcoin will be on the rise again soon.
The deal is from a deck with Magic the Gathering printed on it.
People are really easily scared. If MtGox said the price per Bitcoin was 10 usd they would sell it for that.
For me this is a buying opertunity. As I see it will recover in the coming weeks.
For me this is a buying opertunity. As I see it will recover in the coming weeks.
If miners and early adopters are so convinced as to the validity of bitcoin as a viable and main form of currency then how come so many of them cleared out yesterday into fiat?
I've been touting the virtues of BTC to everyone around me for quite sometime, and had most convinced. With the BS that went on yesterday, those same people are now questioning the safety of bitcoin as a real world working currency.
The psychology is the thing that will make or break this and personally, my morale is quite low this morning.
It's disheartening.
I've been touting the virtues of BTC to everyone around me for quite sometime, and had most convinced. With the BS that went on yesterday, those same people are now questioning the safety of bitcoin as a real world working currency.
The psychology is the thing that will make or break this and personally, my morale is quite low this morning.
It's disheartening.
Jump to: