Topic: For God's sake, don't sell for speculation! (Read 3306 times)

I plan to sell when I can draw enough off to live while having enough to let grow. I want to take time off from slavery and do some things I want to do. My obligations prevented me from acquiring as much as I wanted, but it is enough. When I do start selling, I will know that it was for a great cause and not mere speculation.

Some famous quotes:

He who never makes a mistake never makes anything.
He who makes the same mistake twice is a fool.
 

Yeah, I find it odd how many people talk about big buy-ins and cash-outs at specific prices as if they were final moves after which there should be no more hope to get back in the game. It doesn't matter when you got in or out, you can still speculate - just keep watching the trends and move when the time is right.

I cashed out at $27 to recoup my losses from 2011 when I had bought in at $19, only to find the damned thing had no intention of stopping yet, so I bought in again at $34 and cashed out again today at $47. Clearly not all is lost if you're out "too early" - depending on the trends and on your ability to stay careful and keep it proportional, you can still collect some of the honey later.

I was just kidding, of course. OP is retarded if he thinks anyone who ever sells a bitcoin is the enemy.

Sellers ought to sell whenever they feel like it, sooner than later if that's how they feel.

The higher the price gets, the bigger it will fall (temporarily) when sellers on the fence all decide at the same time that they better hurry and sell.  That's the opposite of stability.  So, if $46 or whatever sounds like a good haul for your coins... it's a good time to take it before somebody else does.

BTW if someone asked me what temptation I have to steal everybody's Casascius coin money, the answer would be none... not primarily because i'm such a great guy per se... and it's true I don't want to be on the run to avoid getting my ass kicked... but there's something about "I really didn't keep the keys" that negates the potential for temptation simply by being true to the only person who can know that with certainty: myself.  I have never felt the need to steal anybody's money, not now nor ever in the future, so I have never laid plans to do so.

On the one hand, it is understood that I can't prove I didn't keep them, and it's prudent to assume that I could have kept the keys and to assess one's own risk in terms of an assumption that I kept them.  On the other hand, for me to be tempted, I would have had to actually keep the keys, and I didn't so...the answer is zero.

I never think of "what could I do if I stole everybody's money", in fact I become somewhat anxious about the opposite: "how differently might people behave if they believe that I could steal their money even if I really can't?"... it's like a liability of sorts only because people imagine it to potentially exist.  This is part of why I offer 1000 BTC items as two-factor by default - it's a simple and practical way to lessen that perceived liability to some degree.  It's too impractical for 1BTC coins, but definitely not for the biggies.  (Two factor items also don't show up on Casascius Coin trackers since their addresses cannot be known in advance)

(Ironically, if I switch to doing oversize anodized aluminum coins that I can engrave with a laser, I might be able to make cheap small 2-factor coins in the future...we'll see how it works out!)

I sold some at $30. does this mean I am an enemy of bitcoin?

Let me know if you find that it does.

It's becoming harder for me, too. I keep wanting to either buy more BTC because the train has been rolling for a month with no sign of slowing, or sell my wallet because the peak seems to have arrived. I keep having to remind myself that in a market this volatile, cold, pitiless math is the only thing I can trust.

I wonder if it ever gets easier.

+1

But the little voice in my head keeps telling me otherwise . . .Must  . . .Make . . . It . . . Stop

Sorry, if there's any "enemy" under my roof, it's the algorithm to which I've pledged my daytrading purse. The #1 rule of making money in markets is that unless you are a wizard, you must ignore your gut and stick to the plan. Especially for someone such as I, who have long ago given up on trying to understand the ridiculous moves of the BTC/USD exchange rate. And that plan has dictated incremental profit-taking (read: selling) since the current rally began, proportional to the increase.

Of course, the plan also dictates rebuying every time there is a downward motion. Which I've been doing too.

That's pretty much exactly what you said at around $18, $8, $5, etc etc if my memory serves.  When you change your tune I'll start to get more concerned

And what would you allow me to do to you in case that turns out to be the wrong decision?

buy high , sell low ...






































wait ..


got that backwards....

buy low , sell high ....
hopefully no harm done...

SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low) SELL (if you bought low)


Put a little money back in your pocket and take your wife out for a nice dinner because she deserves it after watching you sit at the computer all night and eat, sleep, breathe and crap Bitcoin for the last few years.

Most possibly, still small percentage-wise - but the bigger players, who buy 1000BTC bars, get 2F auth by default. That said, I would easily trust Mike with large amounts. Completely transparent about personal details, having a good running business, makes zero sense to lose your (quite large I would imagine) personal savings and become some criminal on the run for the rest of your life. And he should also have planned this in advance, by recording all private keys - so this must be a conscious decision. Very low chances, I'd say. Not zero, but on par with your fiat banker running with your money.

I know now he is offering 2F auth but many people still not bother to use it. Any idea what % of all the casascius bitcoins already in circulation are 2F auth?

it did work for the last 8hours

Your panic button does not work.

yeah as soon as I saw this post from proudhon I sold all... all usd I had

you really have to stop doing this, Proud... not sure we can take the upward spikes anymore