Post
Topic
Board Speculation
Re: The psychology of a HODLer
by
piramida
on 11/04/2014, 16:15:05 UTC
despite the serious situation Bitcoin is in

Ok I am sure you aren't really looking for an answer, but I'll answer anyway, pretending you actually want to know. Bitcoin is in no situation - in fact, it is stronger than ever, th network is growing at an amazing rate, bad exchange got weeded out, we have serious coverage in respectable media, and businesses are multiplying by the day. It was designed to work despite world-wide ban, so some countries taking a hostile approach is only a minor delay on the way to domination. Instead of 5 years it will take 6, big deal.

With that in mind, consider that owning bitcoin is the same as having some stock in this booming industry. Why would you sell when the fundamentals are greater than ever and the price is bottoming out at 25% of the all time high? Of course, you might for a short-term speculation or if you don't see the fundamentals (they are not measurable by the standards you are used to, and it is actually hard to see the real potential bitcoin network has at this point - not everyone is a visionary, some people need to be shown the end result application; thing is, when it will be available, the price would be not in three or four, but at least five digit range - because when everyone "gets it", demand would be way higher than when only a few understand).

So, tldr answer - we hold because we *know* bitcoin is just now raising from it's infant years. Stronger than ever. Short-term price is of no importance, unless you want to play the roulette, then it's fine, just don't try to judge those who see beyond 5-minute ticker. Right now (everything below $600) is a great buying opportunity, in 2015 people would brag that they bought bitcoins in three digits, mark my words.