Why people dump their Bitcoins ? - page 16.

Djisamsoe

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Quote from: DaddyMonsi on November 04, 2015, 11:11:10 PM

people dump Bitcoins because they can't use it in their Country to buy whatever they need like in my case, I get paid in BTC for the signature campaign but after the payment, either I keep it or I sell it right away of I need money since I can't buy groceries for it.

Time for buying groceries will come.. maybe sooner than you think.

Now you can change BTC in any local Bitcoin Exchange and then transfer to your account. Transfer should to go no longer than from the bank account of your employer..

DaddyMonsi

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people dump Bitcoins because they can't use it in their Country to buy whatever they need like in my case, I get paid in BTC for the signature campaign but after the payment, either I keep it or I sell it right away of I need money since I can't buy groceries for it.

Djisamsoe

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Quote from: pissedoff on November 03, 2015, 08:05:40 AM

Most people follow the trend they buy when the price goes up and dump when the price starts to fall.

People are like sheeps - when they see that someone around is doing something, sometimes just automatically they follow. Now we can see similar situation like dumping, but conversely - It is classic panic buy. Shortly we will see panic sell, and this is main reason of dumping.

pissedoff

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Most people follow the trend they buy when the price goes up and dump when the price starts to fall.

harizen

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Quote from: CoinThug on November 03, 2015, 05:00:15 AM

Quote from: azguard on November 03, 2015, 04:52:23 AM

Quote from: BitHappy24 on November 03, 2015, 04:25:31 AM

People tend to panic when the value's are dropping. They might sell it and buy some back again when they feel the timing is right

this is in general if they bought let say 10 btc and price suddenly goes down yes they will sell just to try to save some money but this is wrong keep it price will go up eventually

Yeah you are right, think is kinda handy if let say I have 1 BTC than I will still have it. Because now 1 BTC = $300+ is still alot of money so yeah.

That's why Patience really matters if you are going to do a dumping matters. This kind of investment is a long term and really needs patience. Yes really stressful but can gave you a nice kick.

CoinThug

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Quote from: azguard on November 03, 2015, 04:52:23 AM

Quote from: BitHappy24 on November 03, 2015, 04:25:31 AM

People tend to panic when the value's are dropping. They might sell it and buy some back again when they feel the timing is right

this is in general if they bought let say 10 btc and price suddenly goes down yes they will sell just to try to save some money but this is wrong keep it price will go up eventually

Yeah you are right, think is kinda handy if let say I have 1 BTC than I will still have it. Because now 1 BTC = $300+ is still alot of money so yeah.

azguard

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Quote from: BitHappy24 on November 03, 2015, 04:25:31 AM

People tend to panic when the value's are dropping. They might sell it and buy some back again when they feel the timing is right

this is in general if they bought let say 10 btc and price suddenly goes down yes they will sell just to try to save some money but this is wrong keep it price will go up eventually

BitHappy24

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People tend to panic when the value's are dropping. They might sell it and buy some back again when they feel the timing is right

harizen

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Today is another milestone of bitcoin price since it's last peak. Hopefully dumpers will behave and wait much more for the price increase. Anyways I see less dumps volume this early week. Look like some don't do a panic selling since they realized how fast the growth rate of btc price increases everyday.

Slark

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Quote from: ad2046 on November 02, 2015, 11:45:06 AM

Pump and dump scams involve two groups of people. First there are the players whoartificially increase the price ofa coin by promoting or endorsing it. They've spent several minutes, hours or even days buying up cheap coins, and when they are ready to dump them, they build up the buzz.

If you can pump and dump scheme with bitcoin you must be really part of huge network of pumpers, or a whale yourself. You can't do that anymore when market is this big.
This scheme is more prevalent on altcoin field where price is usually very low and coin is new and everybody is hyped about it.

prodigy8

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I think that people nowadays does not need to dump the price.
Because if they want to sell lower than actual price they can just wait.
And after few hours that price will be reached, why, because of the price rising.

ad2046

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Pump and dump scams involve two groups of people. First there are the players whoartificially increase the price ofa coin by promoting or endorsing it. They've spent several minutes, hours or even days buying up cheap coins, and when they are ready to dump them, they build up the buzz.

omahapoker

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Quote from: makcik on November 02, 2015, 11:16:28 AM

(2) In some (maybe many) countries, btc is still not much used as it should be, so people think using btc is waste.
(3) No matter how much we say about security, btc is still not looked as secure by people and it's a reason for them directly dumping it.

But if those reasons you listed are true, why would they acquire Bitcoins in the first place?

I think panic / small profit are the main 2 reasons why people dump them...

makcik

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Bitcoins have been looked upon by people with different views, some think it as positive and an effective powerful global currency. But, some people have negative views and they stopped using btc and dumped it. I'll try to clarify the reasons here.
(1) They invested and they got huge loss-- there are some people who invested in bitcoins and got a huge loss, they're feeling like cheated now , so they dumped btc.
(2) In some (maybe many) countries, btc is still not much used as it should be, so people think using btc is waste.
(3) No matter how much we say about security, btc is still not looked as secure by people and it's a reason for them directly dumping it.

addy boy

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People dump their bitcoin in fear of bitcoin dropping again. Unbelievers.
It's also because some people bought bitcoin for about $200, and since it's gone up, people are running with the little profit they made.
And since it dropped on the weekend to around $230, it gives people a stronger reason to sell and run.
Anf second reason is about panic
Yes, panic is always the main reason of all dramatical drops, not only bitcoin-related. The people that sell their coins out of panic not only lose their own money but also make others lose theirs.

ObscureBean

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I think some of it may be simply due to people losing interest in Bitcoin. Not everyone gets into Bitcoin equipped with enduring passion, after a while some will naturally gravitate away from it. This is a natural process, nothing wrong with it, Bitcoin is still moving forward.

Decoded

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give me your cryptos

People dump their bitcoin in fear of bitcoin dropping again. Unbelievers.

It's also because some people bought bitcoin for about $200, and since it's gone up, people are running with the little profit they made.

And since it dropped on the weekend to around $230, it gives people a stronger reason to sell and run.

jt byte

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Quote from: Amph on November 01, 2015, 12:29:29 PM

Quote from: jt byte on November 01, 2015, 03:32:33 AM

Overall the last dump that was yesterday it affected the price.
The dump was about -4% and comparing to now it is a drop of 10 dollars.
I think that people mostly dump for panic and maybe hate bitcoin.

or it is some bot playing with each other and manipulating the shit out of the market, this is a more probable possibility, as i see it, than panic dumping

i believe weak hands are long gone, this is something different

Well yes i have seen many exchange bot that do this.
Especially those who 'use' it for a better exchange it sometimes dump the price.
And i think that new traders are afraid and don't want to lose more so they sell cheaper.

Denker

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Quote from: BitcoinBlackjack on November 01, 2015, 12:39:26 PM

A lot of people investing in bitcoin do so just as an investment, just like a stock in the stock market.
And just like in the stock market, when a company releases bad news, or when the price starts to decline, people sell and try to cut their losses!

This is partly true.Another strategy is to take profits at the expected peak and buy back in when the price is lower.Result is profit in fiat and cheaper coins. Therefore you have to be really good in trading and know the psychology of the market. Whales for instance with a lot of money can play this game very easy because with big money you have big influence on the actual relatively small market cap.

BitcoinBlackjack

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A lot of people investing in bitcoin do so just as an investment, just like a stock in the stock market.
And just like in the stock market, when a company releases bad news, or when the price starts to decline, people sell and try to cut their losses!

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