It's getting frothy, and I'm dumping 75% of my coins - page 3.

EvilPanda

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Small Red and Bad

Quote from: piramida on November 14, 2013, 04:53:13 PM

Quote from: Sonica on November 14, 2013, 02:42:40 PM

I sold 80% of my bitcoins today. I have no regrets, I made a hefty profit.

Yeah that is the thing with selling bitcoins - you have no regrets for like a whole week, then maybe a month of being happy that you got out on "top", and then you regret it for the rest of your life

I have regrets almost every time cause I'm cautious (or scared) and usually sell long before the top. IMO he did good - left himself 20% and sold the rest so he can still profit. His 20% can still be more than most of us hold. If you hold big it's perfectly normal to be scared when it goes up like it did last week.

Littleshop

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Quote from: jasonjm on November 13, 2013, 01:18:43 AM

you guys do all realize that only around 5% of us can take profit on bitcoin? any more than that and the price will literally go to $10 or so

Can you back that statement up? Why 5%? Considering that far less then .1% of the worlds population holds Bitcoin wouldn't we have a long way to go?

I have no idea where the price will end up. But even if bitcoin captures 1/10 of paypals volume the price would be pretty high.

Odalv

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Quote from: piramida on November 14, 2013, 05:04:49 PM

Quote from: jasonjm on November 13, 2013, 08:36:47 PM

oh but you are so wrong, the exchanges die, bitcoin will die. Do you really think people are going to walk around on the street dealing with strangers for cash to buy bitcoins? and what will you do with these bitcoins since the only way to use them would be the black market?

I guess we will see in several years. Bitcoin can perfectly survive and prosper underground, even if only used for black market trades or internet transactions - these are growing and no, paypal is not an answer. Definitely, if all exchanges and possession becomes illegal, the effect will last for years, but in the long term, bitcoin would still win, because it is unstoppable as long as internet is there, and there will always be demand for convenient internet gold, now that the idea is out of the bottle. Good luck with your metals investment Wink

Maybe it will work out. Unless bitcoin takes off faster, that has a side effect of seriously devaluing gold Wink

+1

The worst case scenario. (Ownership of Bitcoin cannot be proven. .. only by owner :-) )

piramida

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Quote from: jasonjm on November 13, 2013, 08:36:47 PM

oh but you are so wrong, the exchanges die, bitcoin will die. Do you really think people are going to walk around on the street dealing with strangers for cash to buy bitcoins? and what will you do with these bitcoins since the only way to use them would be the black market?

I guess we will see in several years. Bitcoin can perfectly survive and prosper underground, even if only used for black market trades or internet transactions - these are growing and no, paypal is not an answer. Definitely, if all exchanges and possession becomes illegal, the effect will last for years, but in the long term, bitcoin would still win, because it is unstoppable as long as internet is there, and there will always be demand for convenient internet gold, now that the idea is out of the bottle. Good luck with your metals investment Wink

Maybe it will work out. Unless bitcoin takes off faster, that has a side effect of seriously devaluing gold Wink

piramida

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Quote from: Sonica on November 14, 2013, 02:42:40 PM

I sold 80% of my bitcoins today. I have no regrets, I made a hefty profit.

Yeah that is the thing with selling bitcoins - you have no regrets for like a whole week, then maybe a month of being happy that you got out on "top", and then you regret it for the rest of your life

Sonica

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I sold 80% of my bitcoins today. I have no regrets, I made a hefty profit.

InwardContour

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Quote from: reactive4ce on November 14, 2013, 02:37:16 PM

Quote from: jasonjm on November 14, 2013, 12:28:22 PM

watching the exchanges last night, any sell candle for 1000 to 2000 BTC would drop each of the 4 big exchanges prices approx 5 to 7% - so any sale of 1/50 to 1/100th of 1% of BTC coins in existence drops the exchanges 5 to 7% - which is totally nuts. You all skating on ice that is about 1 atom thick.

Exactly like stock market. I do not worry too much about exchange rates volatility, 1 BTC is still 1 BTC tommorow

exactly, which is why i would like to sell on the way up and buy more tomorrow on the way down! Cheesy

reactive4ce

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Quote from: jasonjm on November 14, 2013, 12:28:22 PM

watching the exchanges last night, any sell candle for 1000 to 2000 BTC would drop each of the 4 big exchanges prices approx 5 to 7% - so any sale of 1/50 to 1/100th of 1% of BTC coins in existence drops the exchanges 5 to 7% - which is totally nuts. You all skating on ice that is about 1 atom thick.

Exactly like stock market. I do not worry too much about exchange rates volatility, 1 BTC is still 1 BTC tommorow

john_doe

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Quote from: jasonjm on November 14, 2013, 12:28:22 PM

I will consider buying bitcoin again at $70 or under (obviously not with parked orders as those are gone), and i would probably need to see it stabilize under 70 for me to get interested, not just a spike down.

I very much doubt we will ever see that price again.

Syke

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Quote from: jasonjm on November 14, 2013, 12:28:22 PM

I'm out - for real this time.

Thank you! Whoever bought your coins will be very happy in a few months. I hope you made a nice profit too.

jasonjm

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im buying physical only

CoinCube

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I think gold is a good play.
I strongly recommend you take the physical gold
and not invest in paper gold.

I suspect people holding the paper will get forced conversion to fiat
sometime in the future.

jasonjm

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I'm out - for real this time.

busy using all the proceeds to buy gold (yeah I know that will be a very unpopular decision here because bitcoin is much better than gold, but so be it).

I will consider buying bitcoin again at $70 or under (obviously not with parked orders as those are gone), and i would probably need to see it stabilize under 70 for me to get interested, not just a spike down.

watching the exchanges last night, any sell candle for 1000 to 2000 BTC would drop each of the 4 big exchanges prices approx 5 to 7% - so any sale of 1/50 to 1/100th of 1% of BTC coins in existence drops the exchanges 5 to 7% - which is totally nuts. You all skating on ice that is about 1 atom thick.

But those are my last thoughts on the subject, wishing you all the best of luck (really) since I no longer have any skin in the game, good luck.

theecoinomist

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I often smile when I see people talking so much about the $500 and $1000 price points.. Have we not yet realized the majority of bitcoins are traded in the great land of China?

DoomDumas

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Bitcoin

Quote from: jasonjm on November 12, 2013, 03:38:23 AM

lotta price increase without impressive volume / $ amounts

and BTW that previous sell from a few days ago was a test run, no true panic volume on the so called "panic day".

The real panic day is yet to come. Don't know when, but I don't want any part of it. These parabolic rises are never a good thing.

Must look at Log Chart to have realistic comparison with the past.. This is'nt going parabolic yet.. Log Scale are much more realistic.. Linear Scale chart are amplified version and not a good reference imo ..

BitchicksHusband

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Quote

To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).

So, let's see, you missed your buy order.

Quote

if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159

$35 was a dumb buy price, because you'd still be holding fiat. The $159 that I bought some of my coins at is sounding like a much better buy right about now, since it's worth almost 3× now.

Quote

you just need to look at the naivete of the posts on this board to know this is a sucker rally.

Sounds like you were saying the same things then.

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"i'm loaning money to ....."

Yeah, OK, that's dumb. Don't borrow money to invest in bitcoin. You could lose it all.

Quote

" I save $200 a month and im putting it all in bitcoins ...... "

Sounds smart to me.

Paladin69

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Quote from: jasonjm on November 13, 2013, 09:39:20 PM

well good luck all, I am signing out of this thread for a while

I will manually sell my last 10% of BTC at $1000

I have buy orders layered in from $150 down to $70

What percent of your sale are you using to get back in? Do you start with a smaller percent at layer $150 or a higher one? Four layers? And what reasoning did you layer between those values?

Thanks.

Crazy

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Quote from: BitchicksHusband on November 14, 2013, 01:41:57 AM

Quote from: mgio on November 13, 2013, 10:18:05 PM

I bought most of my coins at around $10, so I am not sad selling at $400.

Nice. Good job. But if you bought them at $10, how did you get burned?

Probably where "most" comes into play.

BitchicksHusband

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Quote from: mgio on November 13, 2013, 10:18:05 PM

I bought most of my coins at around $10, so I am not sad selling at $400.

Nice. Good job. But if you bought them at $10, how did you get burned?

mgio

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Quote from: danyy on November 13, 2013, 08:43:28 PM

I think this will go to 1000 before correction..

the chinneses still sees prices below 500 as extremely cheap.

People said it would go to 300 during the last bubble.

It never did. I never sold and I got burned.

This time it makes sense to sell at least a little as it goes up. When the inevitable correction comes you can buy back in. If not, you still can continue to make money on the coins you have left.

I feel that the chances of us seeing <$300 again are greater than the chances of us seeing $1000. We will see $1000 someday, the question is whether there will be a crash before then.

I bought most of my coins at around $10, so I am not sad selling at $400.

Topic: It's getting frothy, and I'm dumping 75% of my coins - page 3. (Read 13622 times)