Cashing out.... | Bitcointalksearch.org

gentlemand

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Quote from: richardsNY on June 05, 2017, 11:37:07 AM

You can't just say that cashing out isn't the right decision for people without knowing what their situation is.

Yes indeed, but oftentimes it coincides with the poster screeching death, followed by a bunch of wiggly lines and TA bollocks. Then they're never heard of again, or become Mr Duck, and become prime necroposting fodder.

joshy23

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Quote from: richardsNY on June 05, 2017, 11:37:07 AM

Quote from: Ayiranorea on June 05, 2017, 06:43:53 AM

As of now cashing out bitcoin right now is simply not the right decision. Because the price increase is continuing without much drops happening in between. So it's the right time to hold the bitcoins expecting for a price pumping and sell at a much better price.

You can't just say that cashing out isn't the right decision for people without knowing what their situation is. Cashing out profits from time to time is recommended as it will allow you to have some fiat aside in case the price happens to drop. People's main target is to increase the number of coins that they have, and buying back at lower levels helps you in achieving that. Important is that you never cash out everything at once. I never cash out more than 15% of my profits at once -- it will allow me to benefit more in case the price rushes up further.

I totally agree. If cashing out for some will get them benefits then it is not bad. Like if you need fiat for some emergencies, you will definitely cash out convert to fiat and used for your own benefits. Even if you want to go to vacation and enjoy and bitcoin is where you gonna pull your budget, then it makes sense for you to cash it out. Don't blame people doing it. For sure they gonna buy back it again for future profits. Rinse and Repeat.

richardsNY

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Quote from: Ayiranorea on June 05, 2017, 06:43:53 AM

As of now cashing out bitcoin right now is simply not the right decision. Because the price increase is continuing without much drops happening in between. So it's the right time to hold the bitcoins expecting for a price pumping and sell at a much better price.

You can't just say that cashing out isn't the right decision for people without knowing what their situation is. Cashing out profits from time to time is recommended as it will allow you to have some fiat aside in case the price happens to drop. People's main target is to increase the number of coins that they have, and buying back at lower levels helps you in achieving that. Important is that you never cash out everything at once. I never cash out more than 15% of my profits at once -- it will allow me to benefit more in case the price rushes up further.

gentlemand

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I've seen countless attempts make declarations and second guesses about the price. Most of the time they're miserable failures.

Secure profit where you find it if that's your wish. Don't be sad if you undershoot. Never, ever get all your skin out of the game.

timerland

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Well, as we can see the story of thread creator is a little bit sad, because he posted about cashing out at 24 february, when the price of bitcoins in that time was somewhere about 1200$.
Obviously, if we just compare the current price of bitcoin ( 2,500$ per one ) to the overall history of the price, it makes the whole trade that OP made not so bad.
After all, this very big price movement has started not more than 3 months ago! Bitcoin has increased its price over 100% in like 60 days, so you still cannot tell that 1200$ price level is a bad decision.
It might be actually the same right now, and I think that scenario might happen: because in my opinion, btc will fall to 2000$ for some time just to increase its price later, but if you are going to sell now you will regret not waiting 3 years

It is always better to cash out and get your profits, than lose or risk more.

Siren

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Quote from: Ayiranorea on June 05, 2017, 06:43:53 AM

As of now cashing out bitcoin right now is simply not the right decision. Because the price increase is continuing without much drops happening in between. So it's the right time to hold the bitcoins expecting for a price pumping and sell at a much better price.

Cashing out had happened a few weeks ago. Now is the time to buy and hold bitcoin. Cashing out only happened when their is a big crash and you want to go with it. But I think cashing out works very well with big investors during the dump. Casual investors like us should not dump it in a crash buy rather hold it and wait till it goes up.

Ayiranorea

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As of now cashing out bitcoin right now is simply not the right decision. Because the price increase is continuing without much drops happening in between. So it's the right time to hold the bitcoins expecting for a price pumping and sell at a much better price.

Reid

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Quote from: Pearls Before Swine on June 04, 2017, 07:45:27 PM

Quote from: CoinCidental on June 04, 2017, 07:00:32 PM

Quote from: monbux on February 02, 2017, 10:40:45 PM

Well, no one has ever gone broke from cashing out early.

im sure 10,000 btc for 2 pizzas guy doesnt feel exactly like that today ........lazlo ,are u still here ?

OMG I can only imagine doing that. That's something you'd regret for several lifetimes.

I noticed that this thread is months old, and OP made a serious mis-timing mistake cashing out in January. Way too early to do it, but I suppose if he wasn't comfortable holding...taking a profit isn't a bad idea.

A big face palm after the big rise. Grin

I guess we need a deeper thinking before doing something which is regrettable in just a few months or maybe even just after weeks.
I am sure he will not buy back at this expensive price now. Too hard to make that decision after you have sold a cheaper one.

CoinCidental

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Quote from: Pearls Before Swine on June 04, 2017, 07:45:27 PM

Quote from: CoinCidental on June 04, 2017, 07:00:32 PM

Quote from: monbux on February 02, 2017, 10:40:45 PM

Well, no one has ever gone broke from cashing out early.

im sure 10,000 btc for 2 pizzas guy doesnt feel exactly like that today ........lazlo ,are u still here ?

OMG I can only imagine doing that. That's something you'd regret for several lifetimes.

I noticed that this thread is months old, and OP made a serious mis-timing mistake cashing out in January. Way too early to do it, but I suppose if he wasn't comfortable holding...taking a profit isn't a bad idea.

Cashing out of btc has historically proven to be a horrific idea... That's a $26 million dollar pizza at today's prices.... Ouch
I hope he ordered extra bacon and cheese on it.... Grin

Pearls Before Swine

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Quote from: CoinCidental on June 04, 2017, 07:00:32 PM

Quote from: monbux on February 02, 2017, 10:40:45 PM

Well, no one has ever gone broke from cashing out early.

im sure 10,000 btc for 2 pizzas guy doesnt feel exactly like that today ........lazlo ,are u still here ?

OMG I can only imagine doing that. That's something you'd regret for several lifetimes.

I noticed that this thread is months old, and OP made a serious mis-timing mistake cashing out in January. Way too early to do it, but I suppose if he wasn't comfortable holding...taking a profit isn't a bad idea.

CoinCidental

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Quote from: monbux on February 02, 2017, 10:40:45 PM

Well, no one has ever gone broke from cashing out early.

im sure 10,000 btc for 2 pizzas guy doesnt feel exactly like that today ........lazlo ,are u still here ?

quake313

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Quote from: freemanjackal on February 20, 2017, 08:48:54 PM

for now the price is keeping high, i thought it would drop fast, but i was wrong

Hmm... still time for a drop...

freemanjackal

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for now the price is keeping high, i thought it would drop fast, but i was wrong

Wind_FURY

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Quote from: dhampir-D on February 02, 2017, 08:53:10 AM

The FUD due to the Chinese regulatory agencies on exchanges proved to be something temporary, just as I was speculating a few days ago. In the end, this is something that has no impact on most people who use and trade Bitcoin, because there are few who use bots in comparison to the number of ordinary users.

I agree with you. There is very minimal impact in reality. I read an article on Coindesk that said many traders are switching to trading stocks because of the removal of the trading fees by the Chinese exchanges. I call it a crock of crap. We all know that the Chinese exchanges create their own fake volume by buying and selling with themselves. With that gone nothing really happened.

monbux

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Well, no one has ever gone broke from cashing out early.

Ahab_Hunter_of_BearWhale

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Eh, is for me. Being anything else would be insanity xD

CoinCidental

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Quote from: carlfebz2 on February 02, 2017, 10:11:44 AM

We have the same feeling op on which this price increase has equivalent on price decrease anytime soon we are just on the situation which people are accumulating enough bitcoin and when we hit the price of $1k or even more possibility of going back is there thats why im holding still my bitcoin when price actions to dump then sell oof to secure profits then buyback to its lowest price again.

That's the most surefire way to reduce your bitcoin stack I've seen so far apart from online gambling.... Cheesy

carlfebz2

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We have the same feeling op on which this price increase has equivalent on price decrease anytime soon we are just on the situation which people are accumulating enough bitcoin and when we hit the price of $1k or even more possibility of going back is there thats why im holding still my bitcoin when price actions to dump then sell oof to secure profits then buyback to its lowest price again.

SvenBomvolen

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Quote from: jacobmayes94 on January 23, 2017, 10:06:20 PM

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

Price is recovering, and its very close to 1000 again. I dont think price will drop, who ever sold when you suggested this lost a good profit, your prediction skills are not so good as you think.
I dont plan to cash out anytime soon, price is holding on this price very good, and I believe price can increase more in the future. Now its better to hold bitcoins then to cash out, better think again about it.

Red-Apple

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Quote from: nizamcc on February 02, 2017, 09:28:18 AM

Quote from: carlisle1 on February 02, 2017, 08:59:26 AM

Quote from: jacobmayes94 on January 23, 2017, 10:06:20 PM

Kinda feel the price will drop quite a bit, will probably cash out and buy back in after the dust has settled... The chinese exchange fees look like its going to be a bubble popping but just my opinion... But why the insane mempool size?

you should do that thing if you got an accurate forecast of the bitcoin price and it would be much better if you're going to sell your bitcoins if it's going to drop and if it's surely happen, since the last three days I didn't see any drop even a bit . anyway you don't need to panic, it's normal that the price will drop a little bit and it will surely go back with a much higher value .

Come on dude, OP might have already settled his things back after he sold his coins. He said that he thought that he would sell, but nobody knows whether he did or not. If he took action, he must be in some profit currently, profit of gaining some extra coins at lower rates with the opportunity to sell them back higher and if he didn't, it still doesn't make any difference as the price is still high and he will still be making something out of his coins.

i can not see how he or any other person who sold at the time of OP suggestion, can ever make any profit. it was sold on an stable price not a falling one and price never went low enough to buy back, in fact it was nearly in the fee zone with no possibility of buying back.
unless he bough back at higher price (for example at $960) he has missed the train.

Topic: Cashing out.... (Read 5532 times)