Bitcoins - digital currency
10-06-2014
, 02:16 AM
From personal experience I can tell you exactly what he is thinking.
Being a semi-early adopter, bought most of my coins in the range of $50-$100. I wasn't a trader, just a hoarded believing in the long-term. Thought it wasn't a big amount(~100btc), BTC became an obsession. Every morning the first thing to do was to check the price, every 15 minutes refresh the charts, reading everything I can find online. BTC was my life, I just couldn't stop thinking/talking about it. During the first big swing from $50 to $250 and back to $100back with a dip to $60 the feeling was like ecstasy, but somehow managed to will myself out of buying/selling any coins. 6 months later was the next swing from 300$ to 1200$. The day BTC went from 500$ to 900$ is the day I will never forget. I lack the vocabulary to even begin to explain this feeling. When the price touched 1200$ the adrenaline rush was stronger than a skydiving jump, and when it dropped to $800 it was the worst I had ever felt in my life. In the span of 24h I had by far the best day together with the worst day in my life. BTC was affecting my life too much, it was time to end it. Sold almost all of my coins at 740$ and never went back to it.
If the guy is an early adopter, which is most certainly true, leaving BTC with 9MM is the best decision he can make. His life won't change too much having 9MM or 35MM, but the stress of swinging 7/8 figures up and down is too much for anyone to handle. Earlier adopters were lucky. They were on the right place at the right time and made some money out of it. They are not professional wall street traders who can make/lose 7 figures daily without flinching.
PS. Remember playing with you in Macao few years ago. NL 5k, table next to the cashier and you had the biggest tower of black chips I have ever seen
Last edited by iLLuS10n-; 10-06-2014 at 02:37 AM.
10-06-2014
, 10:14 AM
Quote:
A friend posted on FB news about the recent price drop and decided to check what 2p2 thinks.
From personal experience I can tell you exactly what he is thinking.
Being a semi-early adopter, bought most of my coins in the range of $50-$100. I wasn't a trader, just a hoarded believing in the long-term. Thought it wasn't a big amount(~100btc), BTC became an obsession. Every morning the first thing to do was to check the price, every 15 minutes refresh the charts, reading everything I can find online. BTC was my life, I just couldn't stop thinking/talking about it. During the first big swing from $50 to $250 and back to $100back with a dip to $60 the feeling was like ecstasy, but somehow managed to will myself out of buying/selling any coins. 6 months later was the next swing from 300$ to 1200$. The day BTC went from 500$ to 900$ is the day I will never forget. I lack the vocabulary to even begin to explain this feeling. When the price touched 1200$ the adrenaline rush was stronger than a skydiving jump, and when it dropped to $800 it was the worst I had ever felt in my life. In the span of 24h I had by far the best day together with the worst day in my life. BTC was affecting my life too much, it was time to end it. Sold almost all of my coins at 740$ and never went back to it.
If the guy is an early adopter, which is most certainly true, leaving BTC with 9MM is the best decision he can make. His life won't change too much having 9MM or 35MM, but the stress of swinging 7/8 figures up and down is too much for anyone to handle. Earlier adopters were lucky. They were on the right place at the right time and made some money out of it. They are not professional wall street traders who can make/lose 7 figures daily without flinching.
PS. Remember playing with you in Macao few years ago. NL 5k, table next to the cashier and you had the biggest tower of black chips I have ever seen
From personal experience I can tell you exactly what he is thinking.
Being a semi-early adopter, bought most of my coins in the range of $50-$100. I wasn't a trader, just a hoarded believing in the long-term. Thought it wasn't a big amount(~100btc), BTC became an obsession. Every morning the first thing to do was to check the price, every 15 minutes refresh the charts, reading everything I can find online. BTC was my life, I just couldn't stop thinking/talking about it. During the first big swing from $50 to $250 and back to $100back with a dip to $60 the feeling was like ecstasy, but somehow managed to will myself out of buying/selling any coins. 6 months later was the next swing from 300$ to 1200$. The day BTC went from 500$ to 900$ is the day I will never forget. I lack the vocabulary to even begin to explain this feeling. When the price touched 1200$ the adrenaline rush was stronger than a skydiving jump, and when it dropped to $800 it was the worst I had ever felt in my life. In the span of 24h I had by far the best day together with the worst day in my life. BTC was affecting my life too much, it was time to end it. Sold almost all of my coins at 740$ and never went back to it.
If the guy is an early adopter, which is most certainly true, leaving BTC with 9MM is the best decision he can make. His life won't change too much having 9MM or 35MM, but the stress of swinging 7/8 figures up and down is too much for anyone to handle. Earlier adopters were lucky. They were on the right place at the right time and made some money out of it. They are not professional wall street traders who can make/lose 7 figures daily without flinching.
PS. Remember playing with you in Macao few years ago. NL 5k, table next to the cashier and you had the biggest tower of black chips I have ever seen
Having $4.5M or $9M won't make a huge difference either, so why not sell off half, let the rest ride.
Most people can't handle these kinds of swongs, which is the same reason most people aren't cut out for higher stakes poker. You just have to look at a long term perspective and think of it as valueless points until then, and make smart decisions. It's weird I sweat the BTC price with a fairly insubstantial holding right now when I used to play poker with daily losses or gains exceeding my total holdings in BTC, but without the sweat. You get used to it (or you have to, or you fail). It's just a mindset most people aren't cut out for. When I first started playing, a $1000 daily loss was just so incomprehensible and so painful. After a while, mrbeanrollercoaster.gif.
10-06-2014
, 12:49 PM
10-06-2014
, 03:27 PM
