Topic: I sold everything at $158/159 this morning - page 21. (Read 20754 times)

Damn right.

I am no expert but I have trading in stocks, FX and commodities on regulated markets for over 20 years in a purely amature but very active fashion.  I was participant in the dot com bubble in the 90's and the recent credit crunch so I would class myself as quite battle hardend.  

If this starts falling it will have no buyers until it hits rock bottom.  There will be no brakes; nobody covering shorts and no real world assets to limit the fall out.    

Sure it might go up some more.  

Most likely some people around here are soon going to see some primal brutal human fear kicking them in face.  Remember these words, soon you will understand their meaning.

You will wait long to fill your buy order - considering it will take long, how safe are your $ there ? 

I think investing in bitcoin is better than investing in technology stocks. I can see so much development going on this year and I don't see why anyone should sell everything. Hell, at least keep one coin.

lots of people posted the same thing at 30! and regret it

This.

I believe in Bitcoin because it has true worth in today's fiat driven, bankster corruption world of ever decreasing value.  Even if fiat money wasn't so screwed up, Bitcoin is still valuable just because you can send it to anyone, anywhere, instantly and do so anonymously.  

I plan to buy and hold for a LONG time.  Yeah, we could definitely see some insane swings in the short term, but unless the blockchain itself gets broken (through hacking, whatever) this thing is only going to increase in value.  

It took 2+ years for BC to get from nothing to where we are now, right?  So give it two more years.  Two more years of ever increasing places to spend BC.  Two more years of ever more people abandoning fiat and coming to appreciate the benefits of a crypto-currency.  Two more years of ever increasing efficiency and management of the exchanges, etc.  It'll be glorious.  

I think right now is definitely NOT the time to sell unless you have a reason for the funds.

Bitcoin may (will?) experience SEVERE ups and downs but right now it's gaining a lot of mainstream exposure and that means a lot of money coming in.

And given that it seems like (isn't in my opinion) a "Get Rich Quick" scheme the odds of people bringing money goes up even more.

There are about 30 000 people willing to
invest over $ 60 000 000 value in Bitcoin within the next month.

That is 375 000 BTC at current rate.

That is not a lot of money but ...
I don't think market could supply that amount without adjustments.

If nothing UNPREDICTABLE happens - price is going to hit $400 by the end of this month.

Looking forward to a moment in time when I have to pay a couple of satoshis for a newspaper at the corner shop so all that mining with my laptop yielding 0.01 BTC a month proves to be worth something at last.

WTF??

I'm long BTC and holding for 1 reason: fundamentals

BTC are just too frikking useful, its cash for the interent!

Anyway, $1000 BTC coming up within a year.

Be careful not to stereotype all n00bs as being ignorant. I've personally been following Bitcoin closely since before 2011 and I have lurking in these forums for many moons. In return I won't stereotype all "established" posters as living inside a reality distortion field of their own making.

Grandpa,

There may or may not be a correction.  Yes this may be a bubble but bitcoin is a currency, not a commodity it is a currency and as is grows price will only become higher.

Also as the fiat economy continues to crumble we will only continue to see Bitcoin Price rise.

Bitcoin is the new GOLD

Bitcoin is here to stay.

and for the record, just the fact that I am pretty much the lone voice in here gives me further vindication.

And for all of those posting facts about europe bank accounts and such, markets are not 100% efficient, but they do tend to be pretty forward looking. Do you all honestly think nothing from europe has been priced in already?

and If i can "manipulate panic" on a message board, doesn't really say much for the strength of the bitcoin market.

again I got no skin left in this, I wish you all the best of luck, if it goes to $1000 I bear no grudge against all of you who are still long.

But I highly recommend that at least some of you sell to a break even position, but what do i know. Lets see what happens over the next 6 months.

Good luck to all. Last post on this thread.

Here is someone with a brain!

well, this "grandpa" figures that when you are up 400% or something stupid in 8 weeks, its time to take the easy money and be content, book profits, and not be a greedy pig.

its got nothing to do with how high bitcoin may go, maybe it goes to $2000 i don't know.

It's got to do with so many trades I have seen go sky high, only to crash back wickedly.

It seems you really all expect to be millionaires, and have your "trades" go +200 000%


I'll give you one screwed up metric, that isnt my opinion but fact. Bitcoins price has increased approx 8x since feb 1st. But its transaction volume per day has increased approx 4x. whats that tell you? the sellers are sitting on their hands, and the buyers are panic buying.

And not everybody wants to speculate with these things, I find bitcoin interesting, because it is an alternative currency, which the government cannot touch easily. it possibly can rewrite some rules of society.  It is a more political interest I have than speculative.

1) If you make decisions based on emotion instead of reason, it's a good thing you got out.
2) This is exactly the kind of nonsense a speculator says. Not all of us are here to daytrade, chief.
3) There are several places to short. Here is one: https://icbit.se/

Most of the guys posting here have under 10 posts. Just wanted to point that out.

As long as we continue to get these News : http://deutsche-wirtschafts-nachrichten.de/2013/04/07/bundesbank-auch-bank-einlagen-unter-100-000-euro-sind-nicht-ganz-sicher/

It says that in germany bank accounts under 100.000 euro are not safe from a haircut to save the bank. It's from today.

Well... make up your mind , i made up mine.

Kinda early to sell in my opinion. Bitcoin is just now becoming useful in finance. But oh well, Hope there is a dip and you can buy back in lower friend, but its a dangerous game to play.

Bitcoins are not Soybeans.

Good riddance Grandpa.

(if only this were not another newbie manipulating panic sell thread)

couple of additions

1) I am not saying bitcoin could never go to $1000 before $35 - yeah it sure could, the market can stay illogical much longer. MY instinct is telling me no ways. If it does - well very cool for all of you holding. When this turns, it will turn very quickly. The average person buying here is not a wealthy investor who is playing with bitcoin with 0.5 % or less of their total net worth and doesn't really care. My gut is telling me at least 50% of the new buyers will be losing sleep at night if bitcoin stops moving up, nevermind starts crashing.
2) Remember for those of you that are speculating here (be honest - are you NEVER EVER going to sell or use your bitcoins? if you are holding for higher prices you are a speculator) - you have made ZERO dollars until you book your profits.
3) there are NO short sellers in this market because there really isnt any way to short this thing (and don't point me to one of those scam websites that supposedly are "option" trading sites on bitcoin, what a joke). When it turns there is going to be a friggn giant hole under it. You need short sellers to stabilize a market. No one is there to take profit on the down and therefore become buyers. This is going to be like throwing the titanic off a cliff when the down move comes.