Is it time to bail on Bitcoin? | Hacker News Reader

Is it time to bail on Bitcoin?

2 pointshamiltonians5 comments

It sucks watching my profits evaporate.Anyone have any idea why it is falling so much and if there is any possibly it will recover. It would be nice if the price would just get to 100k so I would have true fu money

it doesn't even go up a little.

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- Check with your Bitcoin wallet vendor whether they are providing FDIC [1] and/or SIPC [2] insurance, in case they don't - switch to another vendor ;)

- BTC market prices fluctuate in both directions, but it seems like you are looking for an asset whose prices can only fluctuate upward. I'm sure there are lots of assets with this property ... in the fairy tales and other fictions.

    1. https://www.fdic.gov/deposit/deposits/faq.html
    2. https://www.sipc.org/about-sipc/

Why should it go up? It is worth whatever buyers are willing to pay at any particular moment. It has no other value. Tomorrow it might be more, might be less, according to the whim of the market.

If you can hold out until 2136 approximately, there will be no more coin to mine, and the value will be substantially higher than it is now.

have you tried converting any amount of BTC to fiat?

I bought in 2017... it tripled in value in less then 1 month and I didn't sell... then it fell hard ... still didn't sell... and I'm happy I didn't (not saying it will be the same today)

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