Are all your friends telling you to cash out, too?

uininPeter

full member

Activity: 141

Merit: 100

Quote from: quone17 on December 04, 2013, 03:34:41 PM

I mean if you bought really low, and you haven't sold ANYTHING, then I think you're being irrational. Sell just a little, even if you think it's going to $10,000

If you still buying, like bit every month, you may sell or spend only if you buy more next month. This way you may accumulate few Bitcoins even with very small investments you can save from not important things you can live without

beetcoin

sr. member

Activity: 434

Merit: 250

too many tax implications at the moment, and i think it will continue to rise.. hold, hold! people who have no idea what bitcoin is, but just know that i've made a decent amount of money off it tell me to sell as well.. but if they tell you their opinion on something they dont understand is certain, i don't put much value in what they think.

ErisDiscordia

legendary

Activity: 1133

Merit: 1163

Imposition of ORder = Escalation of Chaos

Quote from: sgbett on December 04, 2013, 04:18:05 PM

Quote from: Adrian-x on November 29, 2013, 04:24:23 PM

Quote from: P_Shep on November 29, 2013, 10:06:13 AM

I just got one four letter word from my dad:

SELL

Give he knows when to sell did he know to tell you when to buy?

This is the best response ever! I'm remembering that one

+1

This is the best comeback. You didn't tell me when to buy so don't tell me when to sell.

sgbett

legendary

Activity: 2576

Merit: 1087

Quote from: Adrian-x on November 29, 2013, 04:24:23 PM

Quote from: P_Shep on November 29, 2013, 10:06:13 AM

I just got one four letter word from my dad:

SELL

Give he knows when to sell did he know to tell you when to buy?

This is the best response ever! I'm remembering that one

Holdaaja

legendary

Activity: 1274

Merit: 1000

As long as it is less than $10k/btc or I have more than 100btc, I will keep buying more.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: quone17 on December 04, 2013, 03:34:41 PM

I mean if you bought really low, and you haven't sold ANYTHING, then I think you're being irrational. Sell just a little, even if you think it's going to $10,000

That makes sense also. If you cash out, or save via spending the amount you put in, you can't lose.

quone17

full member

Activity: 224

Merit: 104

I mean if you bought really low, and you haven't sold ANYTHING, then I think you're being irrational. Sell just a little, even if you think it's going to $10,000

GigaCoin

sr. member

Activity: 308

Merit: 251

Giga

Quote from: kolesozw on November 29, 2013, 11:03:12 AM

Quote from: Shermo on November 29, 2013, 08:42:01 AM

I had this repeatedly from my girlfriend. Sold 40BTC to recover £4500, was left with about 30BTC, this was only about a month or so ago... WORST MISTAKE EVER!

But buying right before big correction would be worst mistake ever as well.

The fact is trend is upward, but no one knows the price in next month, so every can make worst mistake ever. Though buying is always bit safer bet in long term upward trend

solution = don't tell anyone you bought bitcoins

Don007

legendary

Activity: 1050

Merit: 1007

Live like there is no tomorrow!

I don't need my friends to make a decision, so I won't.

Probably the best thing in my opinion to do is to sell some small parts of BTC sometimes. As I'm effective trading BTC to other coins and back with some profit, my amount of BTC keeps growing. I think I will in about 2 weeks start this procedure; sell a part of my profit and stack a part of my profit.

If it may crash someday, atleast I earned something from it

bassclef

hero member

Activity: 924

Merit: 1000

My brother sold his 6 coins at $375. Needless to say, he seemed a little disappointed over Thanksgiving dinner.

My dad took me aside and told me to CASH OUT MAN. CASH OUT NOW! GET OUT!

Nope.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: PenAndPaper on December 04, 2013, 03:00:51 PM

Quote from: RodeoX on December 04, 2013, 01:44:28 PM

They have been saying "cash out" since we hit parity with the dollar. I will not be cashing out ever. I will buy with bitcoin instead.

That's the right way of thinking because most of the die hard bitcoiners just hoard and don't spend or investing on anything whatsoever. And that's the worst thing that can happen to bitcoin.
Everyone that hopes for bitcoin to happen and sits on top of a large stack must invest in services around bitcoin.

I think of it as having and eating my cake. Almost everything I buy with bitcoin I get at a discount simply because the coins are worth more when I spend. I don't want dollars, I want better money, I want bitcoin.

PenAndPaper

sr. member

Activity: 252

Merit: 250

Quote from: RodeoX on December 04, 2013, 01:44:28 PM

They have been saying "cash out" since we hit parity with the dollar. I will not be cashing out ever. I will buy with bitcoin instead.

That's the right way of thinking because most of the die hard bitcoiners just hoard and don't spend or investing on anything whatsoever. And that's the worst thing that can happen to bitcoin.
Everyone that hopes for bitcoin to happen and sits on top of a large stack must invest in services around bitcoin.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

They have been saying "cash out" since we hit parity with the dollar. I will not be cashing out ever. I will buy with bitcoin instead.

ThatDGuy

hero member

Activity: 728

Merit: 500

Quote from: piramida on November 29, 2013, 03:40:10 PM

Quote from: ThatDGuy on November 29, 2013, 02:32:08 PM

I bought my first BTC at $240 before the sharp correction that came at $266.

Was it in the red for a while? Yep.

I'm having a really hard time right now calling it "the worst mistake ever" when even that 2.23 BTC is now up 480%+

And you held through the summer? My respect to you, I know it must've not been easy.

Sure did! I converted some LTC -> BTC from mining but really only bought more with dollar cost averaging.

I wouldn't have been able to without listening to other people's stories of regret for selling (lots on here) - so I had some help! The principles of Bitcoin are just so sound, it's hard not to see that it was (and is) worth much more. As infrastructure continues to grow and it's accessible to the mainstream (especially hedge funds) I think we'll see another few big jumps in recognized value.

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: P_Shep on November 29, 2013, 10:06:13 AM

I just got one four letter word from my dad:

SELL

Give he knows when to sell did he know to tell you when to buy?

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: ThatDGuy on November 29, 2013, 02:32:08 PM

I bought my first BTC at $240 before the sharp correction that came at $266.

Was it in the red for a while? Yep.

I'm having a really hard time right now calling it "the worst mistake ever" when even that 2.23 BTC is now up 480%+

And you held through the summer? My respect to you, I know it must've not been easy.

ThatDGuy

hero member

Activity: 728

Merit: 500

Quote from: kolesozw on November 29, 2013, 11:03:12 AM

Quote from: Shermo on November 29, 2013, 08:42:01 AM

I had this repeatedly from my girlfriend. Sold 40BTC to recover £4500, was left with about 30BTC, this was only about a month or so ago... WORST MISTAKE EVER!

But buying right before big correction would be worst mistake ever as well.

The fact is trend is upward, but no one knows the price in next month, so every can make worst mistake ever. Though buying is always bit safer bet in long term upward trend

I bought my first BTC at $240 before the sharp correction that came at $266.

Was it in the red for a while? Yep.

I'm having a really hard time right now calling it "the worst mistake ever" when even that 2.23 BTC is now up 480%+

kolesozw

legendary

Activity: 1316

Merit: 1004

FRX: Ferocious Alpha

Quote from: Shermo on November 29, 2013, 08:42:01 AM

I had this repeatedly from my girlfriend. Sold 40BTC to recover £4500, was left with about 30BTC, this was only about a month or so ago... WORST MISTAKE EVER!

But buying right before big correction would be worst mistake ever as well.

The fact is trend is upward, but no one knows the price in next month, so every can make worst mistake ever. Though buying is always bit safer bet in long term upward trend

notme

legendary

Activity: 1904

Merit: 1002

Quote from: PenAndPaper on November 29, 2013, 10:34:01 AM

Quote from: notme on November 29, 2013, 09:30:57 AM

Quote from: PenAndPaper on November 29, 2013, 07:21:38 AM

Quote from: EuroTrash on November 29, 2013, 07:09:40 AM

It is a big bet on your wealth indeed - but the point is not "cashing out", at least not in fiat. It is about getting rid of fiat in our daily lives.
I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

It's a revolutionary experiment where you think that you have front seats but you don't.
You just hoard and wait from others to make things happen.
If you want front seat you should invest some money in services around the ecosystem and in order to do that you must convert some of your coins to fiat.

You don't need fiat to develop an internet service everything you could need can be had for BTC. Servers, programmers, designers, even the surety bond for becoming a money transmitter can be held in BTC in most states (although you will need more BTC than the equivalent fiat because of the volatility).

While it is true that you can find all those things by paying in BTC you certainly narrow down your options that way.
For every service that accepts BTC i can name 100 that are better and sadly accept only fiat. (Except wordpress which is both top notch and accepts bitcoins)
Also there are many things, that are critical for a business to success, that you can't just buy with bitcoins, like google services or social media ads etc.
Hopefully things are going to change but not for a while ...

You don't need 100 providers and "better" is subjective. Accepting what I have to pay with is a big plus. The only way the dinosaurs will adapt is when they start to lose business to the providers who do accept real money. There is no way I would sell btc to develop a bitcoin related service unless the government forced my hand with taxes or licenses.

P_Shep

legendary

Activity: 1795

Merit: 1208

This is not OK.

Quote from: hilariousandco on November 29, 2013, 10:37:19 AM

Quote from: P_Shep on November 29, 2013, 10:06:13 AM

I just got one four letter word from my dad:

SELL

Did you give him any four letter words back?

Certainly did:

NOPE

Topic: Are all your friends telling you to cash out, too? (Read 8427 times)