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Sure, I’m not stupid. I would turn around and sell it to some other fool. And thats the problem. There is honestly no price I could buy it at where I would be w
by mberning 4y ago
Sure, I’m not stupid. I would turn around and sell it to some other fool. And thats the problem. There is honestly no price I could buy it at where I would be willing to hold.
- herendin 4y ago>There is honestly no price I could buy it at where I would be willing to hold. Really no price? Even given the opportunity to buy at $10, you still wouldn't hold?
- alexanderchr 4y agoIf you believe its value is going down you wouldn't want to hold at any purchase price.
- mberning 4y agoAre you confident it won’t go to $5? I’m not.
- factsarelolz 4y agoI would be very confident I could sell before it hits $5.
- deleted 4y ago[deleted]
- throwaway290 4y agoWhat if you're asleep when it falls?
- factsarelolz 4y agoUhhh you set a stop loss number. If it hits x sell. So if I was given a coin currently "worth" $15,000 for $5. I could set a stop loss of $6 and always make a profit since my initial investment was $5. Asleep, awake, doesn't matter.
- amanaplanacanal 4y agoStop losses can fail when prices are falling quickly enough.
- factsarelolz 4y agoSet multiple stop losses? $6, $5.99, $5.75, etc, etc. if one fails one of the others will catch it. Hell as long as it sells before $5.01 I'm profitable. Simple as.
- amanaplanacanal 4y agoThat’s not how stop losses work. If things are falling fast enough, You could have one trade at $7, and the next trade at $4. Sorry, you still lost money.
- deleted 4y ago[deleted]
- alvah 4y agoThat's how people who haven't previously been investors through a crisis think stop losses work.
- owaislone 4y agoWhat difference would that make? You can invest $50k at $10k a piece or $10 a piece. In both cases it can easily go to $5k or $5.
- DebtDeflation 4y agohttps://i.imgur.com/fsCmqVh.png https://i.imgur.com/fsCmqVh.png I just don't understand all of the "BTC will never fall below <some level not far from the current price>" thinking.
- herendin 4y agoYou say you can't understand, but the chart you yourself posted (to illustrate price volatilility) also shows a 12,000% increase in price in less than 8 years, up to today. Past performance is no guarantee of future results, but maybe that, the improbable 12000%, is the thinking that you're trying to understand?
- DebtDeflation 4y agoThat's my point - given the extreme volatility (and the fact that it was trading below $1K less than 6 years ago) why would anyone think there's some floor below which the price of BTC will never fall? Please don't bring up mining costs, which are completely irrelevant here.
- rednerrus 4y agoYou're making a stronger counter argument than you think. BTC only gets a 12,000% increase because you recruit a bigger fool to pay $16,059 than the fool who paid $16,058. The only value that you've offered here is that you can eventually find a fool big enough to pay $1,925,760.