Topic: $32,300 --- How much $$ I sunk into bitcoin since Oct 2013 (Read 2667 times)

Im in a similar position as op albeit with not anywhere near the same amount of money but enough that i wouldnt really want to lose. Id recommend just holding indefinitely , I plan to ouse bitcoin as a store of value and i think its a good one and can survive the test of time.

Depends if this is money you just play with.
If that is the case I would keep on holding.
Is the opposite the case then take your profits, or parts of it, and do what you have to do wit it.

Go leveraged long, OP, because YOLO!

convert to monero

I think its a lot of money, so we can talk easily about it, but its not ours. Its totally different when we need to decide for our own cash. This is like a huge money in my country, so I don`t know what would I do. It would be very hard decision to make.
I think btc can go up, and it would be a wise to wait a bit more.

But who says BTC is going to be a 'thing'?

Thanks partially to Bitcoin's history of artificial megapumps (this current one included), Bitcoin got way ahead of itself, and is now bloated and slow, and a nightmare to use for the purpose it was intended. In the past week, I twice tried to pay for my Trading View yearly subscription with Bitcoin. Twice, it failed. Once, due to Bitcoin's and Coinbase's clunky interface (I 'underpaid by a 0.0005 BTC, and this was too complex a problem for the system to deal with), the second time due to the network not dealing with the transaction before Coinbase's payment window timed out. In the end, I just fucking paid with PayPal.

I don't know a lot about the technical side of Bitcoin or crypto, but those who do know a bit about it (when they desribe it, my eyes just glaze over), suggest to me that Bitcoin might be in a spot of trouble some time post the halving. It is reckoned that a combination of the immense power demands, and the inability for the organic demand of the market to consistently pay a Bitcoin price which meets the minimum cost of production for many miners, will force those miners to switch off, as KnC have recently done, citing a minimum cost of production of $450 per BTC, as the grounds for their bankcruptcy. This in turn will seriously affect the already slow and overloaded network efficiency, which in turn will seriously affect investor's view of Bitcoin's viability as being thee major crypto currency.

Fwiw, one of those who seriously doubt Bitcoin's long term viablility, also believes that Bitcoin could just be on the verge of getting pumped well up into the low 4 figure digits (he believes that miners need to shoot for a min Bitcoin price of $1000, in order to keep the whole thing running). I don't know about that so much, but what I do know, is that the miner's who are engineering this pump, are doing so with the ultimate intend of engineering a great big burst of FOMO buying from the public, into which they hope to be dumping the literally tens of thousands of BTC they have been witholding from the market, in anticipation of this Halving Event. Of course, pumping a market in order to slaughter the public who inevitably like to come stampeding in at the last minute, is easier said than done, otherwise 'we would all be doing it'. It could well be, that the current economic/market climate, just isn't the right time to be pumping any high risk speculative asset. Equities across the globe are entering into a clear downturn. People like to argue that Bitcoin is a safe haven asset which trades inversely to stocks, but if u look at a Bitcoin/US equities chart for the past year, those two have traded in harmony, not inversely. On the otherhand, if the PBOC significantly devalue the Renminbi against the USD, then the Bitcoin Cowboys may get their FOMO public stampede pump after all......

......whatever the case turns out to be and whatever the ultimate upside target is, the only guarantee is that it will all end with a massive dump (hoarded miner BTC will ensure this), followed by a brutal crash driven by the same old FOMO buyers turning to full on despair mode.........and then we will see whether Bitcoin can maintain a high enough price to avoid half the network being switched off.

still far away from that i think, using crypto for all today stuff instead of fiat, need further development and time, 10-20 years, but there are no doubts that the increase of bitcoin will attract more people to crypto

Good to see that you're getting your investment back. It's really good always to see someone break even finally after all those years of waiting. However, I think it's not time to sell yet.

Halving is not here yet and there is more potential to bitcoin than right now.

it is a risk that you go in like this in the first place so now you have to continue your initial plan, nothing is changes. if you were waiting for this kind of profit then sell and enjoy the profit and never look back with regret if the price went to $2500 but if you want to continue waiting then again you have to wait and accept the risk and never look back with regret if the price went back to $570-$600

Don't sell now after all this time, selling now will leave you crying in a few months/years. You obviously are not dying to get the money so just let is sit and do its thing while the value goes up and so does your net worth

haha *agf*

   If you love your BTC, you should never sell. I just sold my a 3rd of my BTC today for fiat, and now I feel regret. Unfortunately, for me, I cannot buy them back since my other half has a rolling pin with my name on it if I even try.    My holdings were only 2 BTC though. So it's just chump change, I guess.
   I wouldn't sell some items of jewelry, either, even if gold went up to $10,000 USD.

Some off the people maybe invested in $ are not real for me. Your Money shouldn`t be worth that much. The dollar is a shame for the whole world and as the Same your lifestyle guys.
Bitcoin Price will decrease sometime and Eu/RU will splitt. This will also Fuck the Dollar and everybody can be happy on this forum to be invested (maybe). But in any case the Dollar should be worth as Yen, escpecially Canadians .

kindly regards

Hey thanks, good advice


Unfortunately, or fortunately, I bought another 4 btc today to make my total count a nice and round 60 btc. I have decent savings sitting in my checking account doing nothing so I thought I might as well risk some of it since I think we might be in the midst of a bubble. I know 30K is already a hell of a lot of money (now it's more like 35K) but I'm too fucking greedy I guess. But I think I will sit back now.. if I don't make decent returns during this run-up I will keep holding til the next one

Ah, so if someone is here it must mean they are trying to scratch pennies or rip somebody off. You are wrong, but I understand the thought - most people here are total scumbags.

Btc is good solid investment now , it isn't the crazy days anymore like when I first started buying btc.... For $3

You contradict yourself by even posting in a btc forum
If you weren't here trying to scratch up pennies like a little scavenger and posted this on some other general forum, someone might listen...... Maybe

So that's your answer, throw everything you can at it. Fucking moron. You probably have 1% of your net worth into crypto, but you want everyone else to make your non-risk into fortunes.
Anybody reading this - do not risk anything into bitcoin or any other crypto that you can't afford to lose.

It is already something. 7 years of something.  Tim Draper and WinkVii have millions tied up in bitcoin, and they're not selling. Fucktard.

WE DON'T KNOW IF IT WILL BE SOMETHING OR NOTHING YET DO WE RETARD? This is a risk, and the OP has $30k tied up in it - if bitcoin succeeds this is MORE THAN ENOUGH to make him rich - he doesn't need to throw more at it. Your reply to me is truly idiotic in my opinion, fucktard.

Probably the most idiotic comment, period.  

Chesthing, you do realize that in order for Bitcoin to still be a thing (i.e., major world cryptocurrency) now and into the future (5, 10, 20, 50+ years), forever moving forward, that not only will people need to buy it now, but they'll need to continuing buying bitcoin at any price, whatever exchange rate it is at atm?  You do get that, right??  Even at $20K+/btc, people like you and me will still need to be buying, holding, and using bitcoin every single day.

That is the whole point.  It is not a 'one time and done' thing.  A future-proof, deflationary currency doesn't work that way.  Average Joe demand has to continue to grow and bitcoin bought and used in the future too.  Otherwise it will die, because miners aren't just going to sell it back and forth to themselves forever.