Why people dump their Bitcoins ? - page 22.

TheGr33k

hero member

Activity: 518

Merit: 500

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 .

Someone that's been involved in BTC and just don't see a future for it anymore or they are relying on the funds they have stashed away in BTC.
Early adopters might get sick of holding onto their hats since $5/BTC and feel like $1000/BTC might be a good exit point because CPU mining wasn't that hard.
Late adopters might get sick of holding BTC because they bought in at $1000/BTC and they're sick to their stomachs at 80% loss.

Nocturne

full member

Activity: 154

Merit: 100

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 .

Yeah some people dump their coins for some reasons,
but I wont conform with those people I will keep my coins and buy some more.

Nami

full member

Activity: 168

Merit: 100

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 .

They may seem to lose faith on the coins and never have any idea that the price will rise up.

Pab

legendary

Activity: 1862

Merit: 1012

I dont think people dump btc at that level.It issimply daily trading going,now halving btc price insrease will be more advertised to pump btc and sell .Money games

Triple

hero member

Activity: 847

Merit: 500

Speculation and predictions. They think it's just not worth it to hold onto those coins anymore and just want money for them

lexuz

hero member

Activity: 714

Merit: 500

Me, myself and I

Nothing a loss when they dumping a price because they will take a profit soon when price up and it's normal in bitcoin some people take benefit from this situation

neonshium

hero member

Activity: 1134

Merit: 515

Quote from: avatar_kiyoshi on October 06, 2015, 02:00:15 PM

Because:
- need fiat immediately
- panic
- a whale who do it for fun
- a 'scammer' whale who dump coins from the coins which have been theft.

I need to know these reasons when I also get panic of price dumps. But I never tried to sell of all my bitcoins just because of sudden price fall. If only I get profits I do sell of my bitcoin while I do trading. The dumping is not good for bitcoin community who gave a fortune namely bitcoin.

Q7

sr. member

Activity: 448

Merit: 250

I think most of them are the miners which I believe they might not be selling their stash of coins everyday but only when it reaches a certain amount or when it comes to certain time like for instance when it comes to month end. Time to pay the employee or pay for the electricity bill. It's the same like you keep a certain quantity and wait for the target price to reach before selling off everything.

ilikemandarin

full member

Activity: 150

Merit: 100

Noone is dumping.
They are just selling to someone's else. Wink

StevenLiang

full member

Activity: 168

Merit: 100

Quote from: Ceizer54 on October 06, 2015, 01:30:15 PM

People dump or sell thier bitcoins due to many reasons..some of these reasons are panic--Some people lose patience watching the price of bitcoin drop and they just got panic enough to sell thier coins and walk away and thus just dropping the price of bitcoins little more...Another reason is loss of trust in bitcoins..People also dump bitcoins when they hear a lot of scam going around by people related to bitcoins stealing etc and people think that bitcoin network isnt secure so they sell and walk away Tongue

I'm agreed with these.
Not all people want to keep holding BTC when the price of BTC itself going down drasticly.

I know some people who will hold BTC forever. The only reason for them is, they already get a lot profit on BTC, and that's why they will keep holding it.

They are not lose a lot if something bad happen.

It's human nature that people to buy something when a lot people buy it.
And dump something when "a lot people" dump it. IMHO.

NorrisK

legendary

Activity: 1946

Merit: 1007

Quote from: dothebeats on October 06, 2015, 06:20:05 PM

Quote from: NorrisK on October 06, 2015, 04:00:50 PM

It is probably from people who bought in with wrong expectations and are now facing the choise:

1. Sell. Take a (minimal) loss and forget about it.
2. Keep. Get nervous and go crazy.

Problem is that the people that choose 1. will be buying in again higher when the price does eventually rise.

Which is just nuts, given that volatility and bitcoin are always almost on par. That's why those people who got burned by the price changes often spread FUD.

Yeah I guess. The FUDders must have really gotten their asses handed to them at one point. Selling before 2013 or buying after 2013, or maybe even both..

FOMO is really strong for some, lucky I learned to cope with it a bit.

btcxyzzz

legendary

Activity: 888

Merit: 1000

Monero - secure, private and untraceable currency.

My take is that it's because they are super-rich early adopters, I can bet the price decline is fuelled mostly by them. Bitcoin is still too much concentrated, but whenever they dump Bitcoin's getting more evenly distributed which is good for price and for Bitcoin economy.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Quote from: NorrisK on October 06, 2015, 04:00:50 PM

It is probably from people who bought in with wrong expectations and are now facing the choise:

1. Sell. Take a (minimal) loss and forget about it.
2. Keep. Get nervous and go crazy.

Problem is that the people that choose 1. will be buying in again higher when the price does eventually rise.

Which is just nuts, given that volatility and bitcoin are always almost on par. That's why those people who got burned by the price changes often spread FUD.

NorrisK

legendary

Activity: 1946

Merit: 1007

It is probably from people who bought in with wrong expectations and are now facing the choise:

1. Sell. Take a (minimal) loss and forget about it.
2. Keep. Get nervous and go crazy.

Problem is that the people that choose 1. will be buying in again higher when the price does eventually rise.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

There are really many reasons. There are also the ones that are losing patience and are getting out of the game. I feel the worst for those people anyways. They will regret it one day when Bitcoin makes it big.

All of the other reasons I can understand such as need of money, people panicking, miners, etc.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Well, fiat needs mostly. There are things in which bitcoin couldn't pay, such as medical bills and power/utility services. I sometimes exchange some bitcoins--mostly from my signature campaign payment--to pay for some bills in our house. But that was just a small fraction of coins, most of my earnings go directly to my cold storage.

sana9821

sr. member

Activity: 420

Merit: 250

i believe that they sell their bitcoins because they are afraid that bitcoin price might drop and they dont believe in bitcoins, i personally dont sell it and hold for the future

Denker

legendary

Activity: 1442

Merit: 1016

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 .

A few might use that money which means they are over invested.Others just panic or lost faith and don't have patience to holf for a longer period of time.
With walking away do you mean leaving the cryptoland? If yes I don't believe that all completely leave and won't show future interest anymore. But some will really never care about Bitcoin.And this guys will cry in 5-10 years.

avatar_kiyoshi

legendary

Activity: 1106

Merit: 1000

Because:
- need fiat immediately
- panic
- a whale who do it for fun
- a 'scammer' whale who dump coins from the coins which have been theft.

Xenoph0bia

hero member

Activity: 966

Merit: 501

There are several reasons for which the people are dumping their bitcoins. Many people have bought the bitcoins for the investment purpose if they think that there will be decrease in the price of the bitcoin then they start to sell their bitcoins. Some people are selling their bitcoins for some immediate cash and emergency money, some people are selling because the risk of loosing their money if the price of the bitcoins falls.

Topic: Why people dump their Bitcoins ? - page 22. (Read 9765 times)