Topic: Why people dump their Bitcoins ? - page 2. (Read 9765 times)
People dump their bitcoin for fear of losing their money if the price goes down. They do not think that bitcoin has a big future and because of a lack of confidence for bitcoin they throw away their bitcoin. I think they should be more patient because the price will not increase in a few days it will take longer.
People dump or sell their bitcoin for various reasons. Some of these reasons are panic, some people lose the patience of observing the bitcoin price drop and they've just panicked enough to sell their coins and just walk away by dropping the bitcoin price a bit more. Another reason is the loss of confidence in bitcoin. People also get rid of bitcoin when they hear a lot of scams going around by people associated with bitcoin stealing etc and people think that bitcoin networks are not safe so they sell and go away from bitcoin.
Because they do not believe in bitcoin. They are too afraid that bitcoin can drop its price and they think that they will lose money if they dont sell their bitcoin. The main second reason here is that whales always want to control the market. They can easily drive the price in the way the want to cause panic selling
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 .
In my own personal opinion, the reason why people dump their bitcoin and walk away is they have no idea what will be the benefit of having a bitcoin and they have no enough knowledge on how bitcoin works for them to earn more profit. People will be saying because of its low price, but i think it isn't because if you already have knowledge about bitcoin you won't worry too much about its price because you already the price will recover soon. 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 .
Because they didn't know yet about bitcoin what willl the benefits on it thats why they too judgemental but let them be they will repent someday.
Agree with you lack of knowledge is the reasons for high panic selling it is only because people are not aware of actual benefit bitcoin can give them so name bitcoin is the future so no chance to dump my bitcoin, I think it is really good to know all about bitcoin when you decide to make investment so later on in future you will not get worry for selling it at panic as you will know it is a temporary situation.
Could be so many different reasons, panic, scare etc
Bitcoin is worth a big bunch of money, so I will fear too, if that bunch will melt on my eyes, trying to safe at least something will sell.
From what I have seen, people who dump Bitcoins can be classified in to two types. The first category consists of people who have purchased coins at very low prices in 2012 and 2013. They will be ready to sell the coins at relatively low prices, because even then they are in profit. The second group consists of noobs who do panic selling.
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 .
There are people who manipulate the price of Bitcoin, and whenever these people wants to invest they do have a target price to hit. So when in pump the price of Bitcoin with a huge amount of money, others will follow immediately to make profit from the pumped price. When these people, who we regard as the manipulators or the whales, reach their target profit they will withdraw their money and that will make the price to start going down. When the price is going down, other investors who don’t want to lose their money and be left with an option of having patience for price to recover will also dump when it’s sill early. 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 .
Because they didn't know yet about bitcoin what willl the benefits on it thats why they too judgemental but let them be they will repent someday.
Agree with you lack of knowledge is the reasons for high panic selling it is only because people are not aware of actual benefit bitcoin can give them so name bitcoin is the future so no chance to dump my bitcoin, I think it is really good to know all about bitcoin when you decide to make investment so later on in future you will not get worry for selling it at panic as you will know it is a temporary situation. panic is always the key factor when it comes to not so experienced traders. they are simply in bitcoin to make quick money. they only don't know how to play the market. some of them think bitcoin will end due to certain bad news articles and begin dumping all their coins.
Yeah! Your'e correct, most of the people dumped thier bitcoin or even another coin is because they are panicking or afraid to loose a big amount of money because of the dumping of the bitcoin price, which they do not know in how the market play, and how the bitcoin very volatile.
There are different reasons, I think. Someone needs money. Someone does not believe in the future of bitcoin. I agree that many sell experiencing a panic
I’m ancient enough to have been around (all be it a kid) when the dot com bubble burst. I can remember everyone betting like crazy on companies that were making no money. Everything at the time defied logic. No one knew why and people would say “Just trust me, it’s the future!”
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 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 .
Simply because they are afraid to incur more losses. So they just withdraw it to stop losing money. For me, I didn't consider it as loss when the price is decreasing not until I totally withdraw it or convert from Bitcoin to local currency. When the price is decreasing we are only incurring a paper loss so don't get panic immediately. Bitcoin is too big to lose so we can never go wrong if we will just hold it for a while.
Yes, there’s a need for blockchain and some sort of virtual currency, but until someone cracks the code and comes up with something that is scalable, secure, easy to use and performs some value-creating function, I’m telling you to run for the hills like the Wizard of Oz and not take your bitcoin with you!
I think the biggest reason they dumped bitcoins was because they had trouble financially. They dump the bitcoin as quickly as possible to reclaim funds or make a profit to solve the problem they are having.
People dump their bitcoins in a purpose of bigger earnings ahead, with some aspect which do not necessarily needed. I believe people are very optimistic on bigger earnings thats why some are easily trade there coin because of some purposes.
I think it would be due to some medical emergency or something along those lines. I don’t think There is adequate reason for a person to dump their bitcoins out of the blue. Unless there is in emergency
FUD has caused me to dump coins in the past, which turned out to be an overly expensive sale.
People also dump coins when they need money to pay bills or other things.
People also dump coins when they need money to pay bills or other things.
Bitcoin pump and dumps work in a very simple yet straightforward manner. Pump and Dump schemes comprise of two groups of people. The first group is players who play by artificially increasing the price of the Bitcoin by endorsing or promoting it. This category of individuals spends their time finding cheap coins to purchase then wait for when they are ready for dumping and build a buzz about the coins. The process of finding and buying cheap coins can take as quick as minutes or as long as hours or even days.
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