Why sell?

[OldChap]

I have been watching the price fall and have been wondering why do people sell at such a low price?

The volumes seem to be holding up no matter what the price is. I don't get it

[acebmxer]

Since the price has droped so much since yesturday I will be waiting untill it goes back up or sell what I need to cover the electric bill.

have you seen this thread over at the bitcoin forum? https://bitcointalk.org/index.php?topic=33765.0

[slaveondope]

Haven't sold.

http://youtu.be/4-lbIfaqm0U

[OldChap]

Thanks ace I hadn't read that.

I just hope that if it hits $10 everyone of the sellers says "stuff that" and holds.

I can wait too

[ggdh]

It's an avalanche = n00b panic :D

Buy, buy, buy!! ;)

[artemm]

Panic? Maybe, but it's totally justified. There were several major events recently that obliterated investor confidence.

There needs to be a period of no crisis events or bad publicity for us to see above 15 again.

- Trojan wallet stealers
- a single user lost 25,000 BTC in a heartbeat
- Mt. Gox hacked
- Polish exchange went down and all of their bitcoins (an undefined amount, believed to be 17K+) destroyed
- Mybitcoin went silent and is still silent with no word on the tens of thousands of bitcoins deposited there
- etc, etc, etc...

Add the above to the bad press and you have a recipe for a justified deflation in value of the currency.

I'm about to break even, but until I do, I just mine to a certain point and sell without paying attention to the price, really. When I break even, then maybe I'll start messing with trades...