Why people dump their Bitcoins ? - page 14.

greBit

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Quote from: OmegaStarScream on October 06, 2015, 04:47:43 AM

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ?
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

First thing the newbies need to understand that the BTC market is as dynamic and (quite) unpredictable as the stock market. No need to get scared if you see a drop in prices, slumps are a part of it by nature. Just have a little more confidence in your analysis and keep in mind the recent market movements.

harizen

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Quote from: Zorrocoin on November 09, 2015, 08:51:54 AM

Quote from: OmegaStarScream on October 06, 2015, 04:47:43 AM

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ?
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

I cannot say why ALL the people who dump their BTCs do so, however, the majority of them would be newbies and their unrealistic expectations. Maybe they think that as soon as they start trading their BTCs will double or triple. What they need to understand is that BTC trading is just like stock market trading. It has its ups and downs.

Some also called the recent down from $500 to what is the price today as a market fail lol. Expecting too much will lead to ignorance of the price movement. Im not an expert nor trading specialist sut somehow I know what's going on.

CyberKuro

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dump ? may mean selling their bitcoin.
I guess it is because of panic, especially recently bitcoin prices rose dramatically, so people think quickly to sell bitcoin that they had while the price is high

Zorrocoin

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Quote from: OmegaStarScream on October 06, 2015, 04:47:43 AM

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ?
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

I cannot say why ALL the people who dump their BTCs do so, however, the majority of them would be newbies and their unrealistic expectations. Maybe they think that as soon as they start trading their BTCs will double or triple. What they need to understand is that BTC trading is just like stock market trading. It has its ups and downs.

manselr

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I have seen it everytime in random forums, when Bitcoin starts going up everyone starts panicking about lossing the boat and ask how they can buy in, when it corrects, then think "oh well its over". You can't reach idiots, they will never know the fact that you have to buy and hold to win because this is a long term race

harizen

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Quote from: moneyflow on November 09, 2015, 08:06:30 AM

Quote from: OmegaStarScream on October 06, 2015, 04:47:43 AM

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ?
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

True. Newbies have somewhat higher (unrealistic) expectations regarding the profit making fundamentals and this is the main reason that they tend to get frustrated of waiting and dump their Bitcoins. What they need to understand is that the BTC market works like any other market. The price is bound to rise when more people want in on the BTC market. A little bit of patience and analysis of the recent market trends can see them making substantial profit.

But in fairness with the current situation today unlike the past XT drama that many dump their coins, volumes of buy rate in the past days are rising near the average of sell rate. By looking at the daily chart, you will see that graph almost the same everyday of pump and dump rate.

moneyflow

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Quote from: OmegaStarScream on October 06, 2015, 04:47:43 AM

In your opinion what are the reasons that let someone start dumping his bitcoins and walk away ?
I personally (and this is just my opinion) that it's more panic then simply his need of money or something else , as we saw on the BitcoinXT last time , people started to panic and simply sold their bitcoins and that caused a drop in the price .

True. Newbies have somewhat higher (unrealistic) expectations regarding the profit making fundamentals and this is the main reason that they tend to get frustrated of waiting and dump their Bitcoins. What they need to understand is that the BTC market works like any other market. The price is bound to rise when more people want in on the BTC market. A little bit of patience and analysis of the recent market trends can see them making substantial profit.

roadbits

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Quote from: azguard on November 09, 2015, 03:55:31 AM

think that most of them are scared
that why they dump coin

they all rushed to buy and then try to sold on first dumping

It is not that most of the people who has sold are scared but they may be a smart people because who ever sold coins when prices are near 500$ now they can buy at cheaper price. That's why they can make more profit then people who just buy and keep coins for price appreciation. I also sold around 1 BTC about 470$.

HarryKPeters

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Quote from: azguard on November 09, 2015, 03:55:31 AM

think that most of them are scared
that why they dump coin

they all rushed to buy and then try to sold on first dumping

Ignorance indeed.

Getting in for a quick gain and then blame bitcoin's volatiliy for their own stupid mistake. In the end a few market makers are making the market, the rest of the herd follows..

azguard

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Quote from: harizen on November 09, 2015, 04:33:04 AM

Quote from: azguard on November 09, 2015, 03:55:31 AM

think that most of them are scared
that why they dump coin

they all rushed to buy and then try to sold on first dumping

Scared is not the right term.

People dump their coins with own reasons like;

..to make profit
..to take advantage of the price movement
..urgent needs / emergencies

.. and still many more that we don't know.

sure we now only what in our term
like you mentioned

real reason we might never know

harizen

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Quote from: azguard on November 09, 2015, 03:55:31 AM

think that most of them are scared
that why they dump coin

they all rushed to buy and then try to sold on first dumping

Scared is not the right term.

People dump their coins with own reasons like;

..to make profit
..to take advantage of the price movement
..urgent needs / emergencies

.. and still many more that we don't know.

azguard

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think that most of them are scared
that why they dump coin

they all rushed to buy and then try to sold on first dumping

Denker

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Quote from: AncilVTwo on November 07, 2015, 09:01:24 PM

only reason i can think of is that if they're scared about the future of the currency and panic sell. they could sell if they feel like the price is at the peak.

Maybe that's what they thought as we reached the 500s. At this point the selling started. Furthermore exponential growth fears many people because it is not sustainable.And therefore many guys look for an exit point. And because the 500 was very close and is a nice round number that had been for many the psychological barrier.
Today we are around 384 at the moment. This is very good and I have high hope that we can hold it and start another push on the way up soon.

StevenLiang

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Quote from: Djisamsoe on November 07, 2015, 07:01:58 AM

Quote from: futurebit640 on November 06, 2015, 07:48:24 PM

Quote from: Shinpako09 on November 05, 2015, 10:29:15 AM

I think because they are in panic especially when the price is going down. They just dump it without thinking that the price will rise soon.

Don't think selling nothing but only a panic is the reason because many traders might have brought at lower level prices so they know that these prices may go down some more that's why to make profits out of that they will sell and buy back again when prices to some more down. This is purely a trading strategy so most common people may sell in panic but traders will take that advantage.

This usually occurs due to the operation of the market .. People are afraid to drop prices. But no one said anything about the most obvious thing - People just need the money! Grin

Yes, we only need to get some profit in bitcoin, we are not dump it, just trade it.

Buy when the price quite low, and sell it again when the price going up a bit.
That's the best opportunity to get profit on bitcoin.

And actually people who got profit on bitcoin will never dump bitcoin. Guaranted

AncilVTwo

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only reason i can think of is that if they're scared about the future of the currency and panic sell. they could sell if they feel like the price is at the peak.

GermanFoobla

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Quote from: manselr on November 07, 2015, 11:08:02 AM

The #1 reason is fear mixed with lack of vision. Most people are idiots that get in just to get some extra money to drop on beers at the weekend. Not everyone understands the implications of Bitcoin, therefore, few will be the ones that own 21+ BTC in 10 years.

You're right. Lack of vision is killing it.

With the coming of more and more services, bitcoin is the internet currency, if just more people could understand that..

Luqman

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Quote from: Nobitcoin on November 07, 2015, 07:09:30 AM

I think the reasons are :

1.Bought low sell high
2.Knew the price was going to drop
3.Had enough of Bitcoins rollercoaster price and made a quick exit
4. Needed the cash

Nah, good points bruh..

~Bitcoin~

legendary

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If this ongoing price fluctuation keep continuing than definitely people who have recently started to use bitcoin will dumb all of their coin in fear of large losses.

manselr

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The #1 reason is fear mixed with lack of vision. Most people are idiots that get in just to get some extra money to drop on beers at the weekend. Not everyone understands the implications of Bitcoin, therefore, few will be the ones that own 21+ BTC in 10 years.

Nobitcoin

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I think the reasons are :

1.Bought low sell high
2.Knew the price was going to drop
3.Had enough of Bitcoins rollercoaster price and made a quick exit
4. Needed the cash

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