Topic: Best point in time to cash out the Bitcoins? - page 2. (Read 4071 times)

I saw a good quote this morning, something the "holders" on here should hear:

"You can't buy low if you dont sell high."

Not saying now is the time to sell, but I'm not sure were at the "low" point yet

The best time to cash out=switch out of bitcoins would be when a new better idea comes along and takes hold without totally overcoming bitcoin yet.
In any other foreseeable situation it is better to keep bitcoins as a separate asset class: stocks, bonds, real estate, cash, gold and now bitcoin.

yeah get me one of those too, cause ill re-run that machine everyday lol.

if we all had that ability we`d abuse it so quick. the cashout periods are less expected.

the market is speaking to you right now, and is telling to not do such  stupid and foolish decision, this baby is gonna skyrocket soon

and bears in mind that dead cat bounces aren't infinite, one of those in the end will be a real increase

If the op's understanding of how markets work is so flawed how has he supposedly become a millionaire? I call troll.

all you need is a time machine, go back to Jan 2014 I believe!

i can not believe that this thread is posted here on 2015!! i thought somebody revived and old thread.
but clearly this is a troll attempt since if somebody bought at $10 / btc and holded this long, he is either brain dead or lying.

Of course I'm only playing along with OP. I don't really believe a millionaire would come on here asking us how to invest. And I doubt he is who he claims to be. Newbie poster trying to spread doubt, where have I seen that before?

Just to be clear I'm not saying I would cash out now. I'm accumulating at these prices ! 

But in the specific case of KingAfurah who clearly doesn't believe bitcoin has a future why hold longer if you don't believe in your investment. He wants to buy Apple shares 

Are you thinking that for every $1 increase in market cap, somebody needs to invest $1? That's not how it works. The total bitcoin market cap at the peak at end of 2013 was nearly 14 billion dollars; that doesn't mean that 14 billion dollars got invested into bitcoin trading.

Consider this thought experiment. Suppose I made an alt-coin with 10 billion premined coins. I sell one coin to you for one dollar. The market cap is now calculated to be 10 billion dollars. Did it take 10 billion dollars to get it there? No.

In the real world, bitcoin is not so thinly traded as in my thought experiment. But the principle holds: it does not take X dollars of investment to increase the market cap by X dollars.

okey may be you can sell at 50$

You just describe about 99% of the people.

To them like myself, we cash out based on whats the value right now, yeah we belittle ourself with hindsight, but its hard to tell whats the future when so many btc companies like BFL started great creating the community even better, then fails?

Stuff like that is so discouraging to see.

honestly, I dont think theres a right best point in time to cash out.

Unless you got something similar to that mt.gox event thats pretty obvious you can tell to cash out on.

Some people seem that want everything. They want the instant gratification and convince themselves Bitcoin is dead, but in the back of their minds they know they are making a stupid move by cashing out all of their Bitcoins because anyone with half a brain knows BTC will be worth 10.000+ in the next 10 years.

When the best time comes, it will be better to just spend it when you need, and not exchange for fiat. Many people can't afford to wait, so if you really have to
i guess any time will do you good, since you claim to have bought them @ 10$. Halving is coming next year, so if you can hold a while longer, it should, and probably would be much
more profitable to sell then.

cheers

If you are an investor, you have to decide whether you believe in the long term viability of bitcoin. If yes (like me), hold for the long term (many years) and don't lose faith when the price tanks. If not, go ahead and sell. Simple as that.

If you are a trader, you should consult your tea leaves, and then buy and sell at random. On second thought, just sell, because it's the opposite of what the hodl'ers are doing and they are soooooooo financially unsophisticated, it will feel good to prove them wrong 

I personally think that bitcoin has a greater chance of succeeding in the long term than failing. One way to gauge the fundamentals is to look at the quality of people (and institutions) who are betting their time, energy, careers and reputations on the blockchain -- people like Blythe Masters, the former head of global commodities at JP Morgan Chase & Co, just to name one http://www.coindesk.com/former-jp-morgan-exec-blythe-masters-swaps-wall-street-for-bitcoin/ . I bought a small amount of bitcoin in 2011 at around $10 and would not have done so if I had not read that Gavin, a Princeton educated computer scientist who (I presumed) had multiple career paths available to him, chose to bet his career on bitcoin.

If the OP really did buy in 2011 at $10, meaning that he hodl'd through a price drop to below $2 -- and a gap of something like 2 years before setting a new ATH -- without selling,  I am puzzled why he would be losing faith now, unless he just really needs the money, which he says he does not. Or maybe he (like me) bought such a small amount in 2011 that he just plumb forgot about it until 2013 

Answer to OP now is the best time to sell for you. Seems to me every response you have given so far indicates you don't believe in your investment so why hold any longer?

hemmm sorry if it's a privacy, how much you buy Bitcoin in 2012 ? can u use SGP ?I'm just curious and  want to know it 

You will sell at 50$ like most here....

Eh, you bought at $10.

I wouldn't worry too much, as you stand your ROI is high,very. You've been holding for about 3 years, hold for another few. About 4 or 5. You're making a pretty decent profit either way.