Who is selling Bitcoin? - page 22. | Bitcointalksearch.org

mk4

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Quote from: freightjoe on November 19, 2017, 03:51:06 AM

Why are people selling Bitcoin?

Because even though no matter how bullish you are on bitcoin, some people are still going to need fiat; probably to pay for bills, to buy random stuff, to pay for some sort of emergency, because they are short on fiat, those stuff. Deal with it, bitcoin isn't used enough(especially in 3rd world countries) that you can live with bitcoin alone. We still currently need fiat to pay most stuff.

Xavofat

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Did you see that ludicrous display last night?

Quote from: freightjoe on November 19, 2017, 04:22:10 AM

when you see the amateur-investors, which this forum is filled with, taking the buy side in a naive vision that Bitcoin can only go up

Notably, it's a lot harder to gauge how many people (and which people) are getting caught up in this bubble than you think.

The forum users here are not the most reasonable. A lot of them aren't actually investors, they're spammers. And r/bitcoin is extremely censored, so it's quite difficult to post directly opposing arguments.

You can't gauge the huge amount of people (arguably most of them) that are not on this forum or on Reddit at all.

freightjoe

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Quote from: Xavofat on November 19, 2017, 04:18:49 AM

Well, the same thing is happening all the time (an equal amount of BTC is being bought as the amount that's sold). It's hardly a relevant observation.

All we know is that right now, the market regards 1 BTC to be worth about $7,750. Whether or not you think that's justified is another matter (actually, I agree that it's not justified) but don't just use the existence of supply and demand to try and justify it, because that always applies.

Quote from: freightjoe on November 19, 2017, 03:51:06 AM

Everyone in here is desperate to convince each other the Bitcoin can only go up and therefore you have to buy and hold.

I'm not.

Supply and demand is not the relevant question. The relevant part is WHO is buying and selling. And when you see the amateur-investors, which this forum is filled with, taking the buy side in a naive vision that Bitcoin can only go up - and the clever larger investors slowly selling their Bitcoin - you know the party is about to end.

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Well, the same thing is happening all the time (an equal amount of BTC is being bought as the amount that's sold). It's hardly a relevant observation.

All we know is that right now, the market regards 1 BTC to be worth about $7,750. Whether or not you think that's justified is another matter (actually, I agree that it's not justified) but don't just use the existence of supply and demand to try and justify it, because that always applies.

Quote from: freightjoe on November 19, 2017, 03:51:06 AM

Everyone in here is desperate to convince each other the Bitcoin can only go up and therefore you have to buy and hold.

I'm not.

freightjoe

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Everyone in here is desperate to convince each other the Bitcoin can only go up and therefore you have to buy and hold.

But when you buy Bitcoin, someone is selling it to you.

Why are people selling Bitcoin?

The knowledgeable people are the ones who are now slowly selling out before the bubble bursts. When you are now buying more and more Bitcoin ("investing" as people in here call it) who do you think you are buying them from?

You are buying from the knowledgeable people who are slowly getting rid of their Bitcoin.

Topic: Who is selling Bitcoin? - page 22. (Read 2776 times)