Topic: At what INR value you would dump your coins ? (Read 3551 times)

In my early days, I used to think that once I reach 1 crore INR, I'll just liquidate everything to USDT, lend it for interest and then slowly convert it into INR. But I have understood soon that it's not that easy or a profitable idea but still 1 crore INR is pretty good amount to settle in a country like India.

Interesting question. You posted this in 2015 makes it even more interesting. Now that BTC is almost at $58k and ether crossed $3000 mark, I still am not interested in selling them.
Also INR is more cheaper in terms of usd compared to what it was in 2015.
I don't think one should ever sell his full holdings, always try to hold as long as you can and sell it as a last resort.

When I also see that the price of bitcoin goes up, the price of the Indian rupee decreases, and when the bitcoin decreases the price of the Indian rupee increases. Whenever this happens, you can take advantage of it, but I am not giving you any advice. You are smart. Now I know what to do next. So I do not need to tell you what to do, you are a connoisseur ..

I sell and always buy back when price falls. This way I am never out of my BTC and always in profit too.
I don't have to wait for some target price to sell though I have to wait to buy.

time surely goes by pretty quick
damn, bitcoin came a long way

Yeah. Looks like you were here back when Benson and the faadu wala Indians were here too. Most of them have now moved on with their own projects in the Alt-space and making good products and money I suppose.

Only a few OGs still sticking with us sorry lot out here. Thanks for staying put, LOL. Who would believe that Rocket Singh: salesman of the year came out in 2009. 12 damn years already.

Feeling nostalgic after re-visiting this old thread. How time flies...

16k is too low for dumping all your coins. I am pretty sure bitcoin which bump up to a nice price (>30k) after the halvening, so better wait for that.

I have 16k now is13k

Am not entirely sure if the global price of Bitcoin can be increased dramatically. I can see it getting affected in certain countries, where the demand rises due to Bitcoin being outlawed or in the event of natural disasters, emergencies, etc.. But pump and dumps, may impact single exchanges with large volumes, where people have access to that market from a disturbed geography.

It will be awesome to see the charts before halving though.. will be a super climb followed by a spectacular crash when people realize that the prices are not moving upwards constantly. I would keep my post-halving predictions around 400 - 600$ max.

And yeah, we will have an API out within the next 2 weeks or so, so go ahead and build a bot, if that will help prices, volume and spread

More than anything else, halvening will surely create a hype amongst the current bitcoin users and it doesn't matter if it reduces the volume by 1800bitcoins, it will increase the buying, and with benson's willy bot it will reach 50k+.

I doubt that will happen. There are a lot of bitcoins in the world right now, and most of it is probably not used. I would suspect a massive sell as the price nears 1000$ this time, even if it touches 500.

Also the halvening is only supposed to reduce the possible selling by 1800 coins, which might not really cause such a big rise in the prices.

And get blamed for the price crash for rest of your life + face trolls + attract media attention(don't do it when elections are around else you'll loose all the media attention) + periodic visits to courts.
Its an awesome package.

Although I wouldn't mind if the price crashes after touching 1lakh mark   

Ha... And spend the next 7 years waiting for the price to go back up after the crash? :p

Do it buddy. Take the price to 1 lakh INR/BTC. Volume will automatically follow. Just consult MK about how is the life after Willy

I won't dump my coins before next halvening and would atleast wait for the price to reach atleast 60k INR+ like it was some 2 years back.

I am pretty sure the price of bitcoin will get to 50k+ after the next halvening.

Ha.. You owe me one too, so, lets cancel out this one :p

You owe me laprop bro

Regards

Sigh, If we had willy working with us, I would never complain about volumes ..

What to annoy ? We are just speculating here...

There are only four players now who operates in INR specific market - Benson, Kamesh, Sathwik & Mahin. Out of them Sathwik & Mahin does not own real time exchange where willy is possible. Left are 2. Now, if you know about some new player that's a different story. But, willy bot is not possible in direct trading exchange or bitcoin shops. It has to be a real time exchange like Mt. Gox to employ willy.

Yes!
Rs. 18k in my mind
bt now its 14k+ only 


~Rude Boy

Lol.

Regards

aahmmmm **गले में खिच खिच**

I do have some other names in mind , cant disclose them, don't wanna annoy anyone.

I wonder who would like to play this wild game ? Benson, Kamesh or someone else ?

And another exchange that supports willy 

Time to create another Willy Bot ?

I wish to see it reach 60000₹ + mark again(Like it did at the time of mtgox and previous halvening).
I would "dump" most of my coins at ₹1lakh +

If you mean the price above the bistamp price, I would be happy with around 10% . If you mean a general price, then I am sure almost no one has a defined limit for that.

And then spend half of it, only to buy less than half of the original bitcoins with the remaining half of the money.

if it reaches 10000inr then I will surely dump this coin

There is a difference in current businesses and bitcoin businesses.

If you were starting facebook would you encourage your bank to start using internet so that you can pay your hosting online?
You have started a bitcoin business so encourage your dealing party to start using bitcoin so that ..

While I share your vision ideally, I disagree as I can not see it as practical situation at this moment. To go into bitcoin world first you will have to make them ask about, than use it everything else comes later. A businessman has to run business, thats his priority. Currency he chose as medium of payment should strictly be decided by business reasons and it should in no way hamper the real function, business.

Regards

If you are a bitcoin business you will never dump your bitcoins. If you are truly a business and not just some rich guy who jumped on an opportunity market, then the reason you are running that business is because you believe that people would actually use bitcoin. And if so the value is bitcoin is bound to rise.

If I am a true bitcoin business I will keep as much as I can in bitcoin and use it as a currency. You ought to convince the person you are dealing with to accept bitcoin because you convinced the same to yourself when you started this business.

Same applies for individuals who earned it. They asked their bosses to pay them in bitcoin and specifically not fiat for god's sake. Why would they then wanna sell it? Cause it inflated overnight? These earners believe in bitcoin and thus spend them and not dump them, in the process even teaching their sweeper how to run his own bank. For a bitcoin earner, a pump is like a flipkart sale, Only this could be as much as 500% off !

Most probably, those who sell bitcoin will buy again in future.

Two things :
1. If you run business and need FIAT liquidity, liquidate on that moment only and use bitcoin as just value transfer medium. If you have liberty and margin where you want to keep some part of it, than its again kind of investment or buying so same rules as above.
2. If you have earned it somehow ( may by clicking ads, working on faucets, tricking giveaways or xyz ) same rule applies. Instead of bought think it got. Let me rephrase :

* Never regret that you sold on 100 when it hit 200, just remember you got it at 50 and sold at 100.

In any case easier said than done. But remember either you believe
1. Bitcoin is quick rich scheme and your ticket to chocolate factory, in that case its pure gamble, fun and risk you are taking and you are going on speculation ride and kind of day trading. Only God, luck, super natural abilities, vampires and your amazing skills can make you money there ( And this is no related to bitcoin, you can copy paste this to anything that is speculative )
2. Bitcoin is great improvement to existing payment system and may be seen as better alternative for trust less payment settlement medium in future and as an early adopter you might get benefited by its acceptance either by your knowledge of this tech, contacts you made and position you get in society or next business who adopts or come in late in this . Still monetary gain here is still like any other trading commodity full with luck, speculation, understanding fundamentals of markets, understanding position of big players and insider information.

I really dont know whether what I have written makes sense or not but understanding economics and market is awesome learning curve, I dont claim to know but as student I can say its insomnia.


Regards

What about those who did not buy, but earned bitcoin ?

1. Never dump all of it.
2. Always dump fraction when you are getting good return ( you can decide on percentage you want )
3. Never regret that you sold on 100 when it hit 200, just remember you bought it at 50 and sold at 100.
4. Keep buying in small amounts if you see a good opportunity. Believe in power of average costing


I would love to see 70k -80k but will not mind even 60k (1000$ parity )

Note : I do not encourage speculation of any kind in any commodity. Remember bitcoin is very small economy and you may loose money here. Make sure you only play with what you can afford.

Regards

Everyone has a price in mind. What is yours in INR ?