Topic: I sold everything at $158/159 this morning - page 10. (Read 20754 times)

+1 Panic is the worst enemy a trader can have!

Patience is golden.

 In hindsight you made the right call with the info you had available at that time. The sharp rise was a bubble that would have popped sooner then later.

The traders will never disappear esp now that some pro's are getting their feet wet...

Best of luck with your BTC purchases lol:). If BTC hit below $30-$40, unless I thought they would continue down for a long time, I would buy quite a few, however, I'm not going to put in a buy offer and wait, I'd rather have the money in my hand and risk missing a quick drop than leave the money in an exchange with my by offer and hope it completes during a quick drop.

I usually withdraw any gain in excess to what I am comfortable investing; but that doesn't happen too often, of course.

Yes

People have been buying Bitcoins less as an insurance against confiscation and more as a quick and easy way to make fiat profit. And as I see it, the system will not reach equilibrium again until every last person who is in it for the quick profit has given up.

Question to those who sell bitcoin, do you really change to fiat and exit from the bitcoin system or do you just try to have a profit?

As difficulty increased, we may expect some higher prices?

There's really no such think as overpriced if you think about it. It's only what the market will bear to pay at an instant in time.

I purchased a few bitcoins at $120 a couple of days ago and plan on keeping them. I have a lot more fun swing trading stocks then "day trading" bitcoins.

I think that's a little bit of strategy + a huge load of luck.  FTFY

I think that's a little bit of strategy + a little bit of luck. But honestly, nothing to do with "smartness".

It's back up to $158 but of course it went down to $50 so anyone smart enough to sell and buy back woud have 3x as many btc and 3x as much wealth if you timed it right. 

 

I don't see it's worth to try to guess when it's gonna crash and rebuy at bottom. We all know that btc is in a long way ride. True that you can double your coin by selling it at 200 and buy back at 100, but you can get the same effect if you buy at 4 instead of at 8 back in the old days. The best thing to do is to dump all you have into what you believe, sail around the world, and comeback in the next 5 years.

Thank you. I'm glad we're on the same page. BTC has become "hot commodity", a "seasonal good" for scavengers right now. You can easily see that every time it goes down, it's correlated to the increased volume of transactions. Which means speculators are buying and selling for profits in $. This is missing the whole point if we're thinking about something stable long term.
There is only 10 mil + of btc, so it's possible to simply buy them off and keep them, but it's probably impossible to convince people to do that. There seem to be normally around 200-300k transactions in btc exchanges per day. Right now it's more like 700-800k transactions per day (around 21-24 mil/per month!!!!). This means that on avg each btc changes hands twice in a month. It's ridiculous. The rules of mindless Wall Street trading and laveraging were employed to deal with something that was supposed to be a currency of changes, of independence from governments, banks and other diseases of this world. And straight away it's proven to be impossible. There is absolutely no point in btc if it's going to be bootstraped to $. Keeping btc right now would boost not only boost it's "price" but also stabilise it. But I don't believe it will happen. Now it remains to be seen how bad the economy will go and how many countries/banks will decide to steal peoples money directly from their accounts.

I know perfectly that most of the greedy people believe that greed is part of the "human nature", but it's very short sighted. Just as whole our culture is about quick profit and the worse goods are continuously pushing back the better ones, the BTC is subject to the same manipulation and shot-sighteness. The result is always the same - you end up with worse quality, and even worse, you can drown whole idea for a quick buck. Not to mention that stabilising btc and pushing it's value will make people make much more money in a long run.

Good work!

You might not have to be all that patient if we get a panicked breakout.