Topic: It's getting frothy, and I'm dumping 75% of my coins - page 8. (Read 13671 times)
You guys literally don't get it. Only 5 percent can take profit. 95 percent have to get burnt.
yeah I sold approx 300 coins between 320 and 380
I have 100 coins left
I will dump all at $1000 if that happens within a few weeks
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
on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.
that was enough to drop BTC price almost 50% on some exchanges
now..... imagine 5% of people or 600 000 coins are sold within 48 hours.
it would literally devastate bitcoin prices.
So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.
I have 100 coins left
I will dump all at $1000 if that happens within a few weeks
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
on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.
that was enough to drop BTC price almost 50% on some exchanges
now..... imagine 5% of people or 600 000 coins are sold within 48 hours.
it would literally devastate bitcoin prices.
So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.
I personally think this is a myopic view, but feel free to sell your coins to stronger hands.
If you have been trading for a long time, you would realize there is no such thing as a strong or weak hand. That saying is worthless. There are only profitable and unprofitable hands.
Hold (years) FTW
Why would you dump now though? The crashes do not begin when bitcoin is stable, the begin when it is rallying and making a huge increase for the day.
Only on bitcointalk is a 173% gain in 30 days considered "stable".
Note: I am not saying buy, sell, or hold just pointing out the unintentional humor in that statement.
"Can you believe it, the DOW doubled last month? I know I haven't seen stability like that in years".
Yeah the greed is off the charts.
yeah I sold approx 300 coins between 320 and 380
I have 100 coins left
I will dump all at $1000 if that happens within a few weeks
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
on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.
that was enough to drop BTC price almost 50% on some exchanges
now..... imagine 5% of people or 600 000 coins are sold within 48 hours.
it would literally devastate bitcoin prices.
So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.
I have 100 coins left
I will dump all at $1000 if that happens within a few weeks
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
on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.
that was enough to drop BTC price almost 50% on some exchanges
now..... imagine 5% of people or 600 000 coins are sold within 48 hours.
it would literally devastate bitcoin prices.
So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.
I personally think this is a myopic view, but feel free to sell your coins to stronger hands.
Why would you dump now though? The crashes do not begin when bitcoin is stable, the begin when it is rallying and making a huge increase for the day.
Only on bitcointalk is a 173% gain in 30 days considered "stable".
Note: I am not saying buy, sell, or hold just pointing out the unintentional humor in that statement.
"Can you believe it, the DOW doubled last month? I know I haven't seen stability like that in years".
yeah I sold approx 300 coins between 320 and 380
I have 100 coins left
I will dump all at $1000 if that happens within a few weeks
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
on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.
that was enough to drop BTC price almost 50% on some exchanges
now..... imagine 5% of people or 600 000 coins are sold within 48 hours.
it would literally devastate bitcoin prices.
So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.
I have 100 coins left
I will dump all at $1000 if that happens within a few weeks
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
on the day silk road got shutdown, there was heavy selling volume on the exchanges, approx 200 000 coins ( or 2%). not all of those were sells, so lets say 160 000 sells.
that was enough to drop BTC price almost 50% on some exchanges
now..... imagine 5% of people or 600 000 coins are sold within 48 hours.
it would literally devastate bitcoin prices.
So....... although I like bitcoin, when you get down to it, every person who is hoarding bitcoins (myself included) is pretty much counting on the fact that they will somehow be the first to sell when the time comes. But obviously this is impossible, 95% of us have to be wrong.
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.
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.
So did you dump them?
in terms of btc a 10fold difference is nothing. just another year.
currently i need another 4fold and i will retire
currently i need another 4fold and i will retire
I need 15x more to retire, but "I'm an idiot that should sell all my coins immediately because it's a bubble."
in terms of btc a 10fold difference is nothing. just another year.
currently i need another 4fold and i will retire
currently i need another 4fold and i will retire
I entered late so three years for me
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.
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.
Guys there will be no panic day
because of the known number of btc in circulation.
People who know that will never sell bitcoins on dumps will just buy the cheap one's
There is always panic when the trains leaves the station without you
. 
in terms of btc a 10fold difference is nothing. just another year.
currently i need another 4fold and i will retire
currently i need another 4fold and i will retire
For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.
Definitely. Get rich quick always draws the masses in.
Just like the Poker boom was set in motion by an average Joe winning a huge tournament, the Norwegian story did wonders for Bitcoin. We need more of those.
We need a lot less of these stories. Anything with a return in the thousands of percent per year sounds like a scam. If it's too good to true... and all that. People need to use bitcoin because it's useful and fills a niche in the financial system. I would rather not have them enter the system because they think they'll be millionaires in a couple of years time for pocket change today.
Well for me it worked, I got curious about bitcoin because of that story but then as I informed myself the idea behind bitcoin and the consequences of its wide adoption made me even more interested than just the getting rich possibility. Now I genuinely want to contribute for this thing to succeed. I think stories like those could lure many type of people and that's kind of good IMO.
For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.
Definitely. Get rich quick always draws the masses in.
Just like the Poker boom was set in motion by an average Joe winning a huge tournament, the Norwegian story did wonders for Bitcoin. We need more of those.
We need a lot less of these stories. Anything with a return in the thousands of percent per year sounds like a scam. If it's too good to true... and all that. People need to use bitcoin because it's useful and fills a niche in the financial system. I would rather not have them enter the system because they think they'll be millionaires in a couple of years time for pocket change today.
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.
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.
Guys there will be no panic day
because of the known number of btc in circulation.
People who know that will never sell bitcoins on dumps will just buy the cheap one's
For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.
Definitely. Get rich quick always draws the masses in.
Just like the Poker boom was set in motion by an average Joe winning a huge tournament, the Norwegian story did wonders for Bitcoin. We need more of those.
There is nothing magical about today's price or $1000.
They are your coins, do with them as you please, but if you want to lock in some profits, my advice would be to sell proportionally to the price.
Lets say you have 100 coins, currently worth ~$350K. Pick some number you are comfortable risking. Lets say $200K. So you sell the difference, $150K worth of bitcoins now. If/when bitcoin continues to rise in price, keep selling so that your remaining coins are still worth $200K. That way, not matter how high bitcoin goes, you will never completely miss the boat, perhaps one day you will only have 1BTC left, but it would still be worth $200K. At the same time, no matter how low it drops, you would have locked in a decent chunk of profit.
ANyway, thats roughly how I do it, and have been doing since $100/BTC.
And sure, "had I known", it would have been better to keep those coins, but I dont regret my strategy one bit.
They are your coins, do with them as you please, but if you want to lock in some profits, my advice would be to sell proportionally to the price.
Lets say you have 100 coins, currently worth ~$350K. Pick some number you are comfortable risking. Lets say $200K. So you sell the difference, $150K worth of bitcoins now. If/when bitcoin continues to rise in price, keep selling so that your remaining coins are still worth $200K. That way, not matter how high bitcoin goes, you will never completely miss the boat, perhaps one day you will only have 1BTC left, but it would still be worth $200K. At the same time, no matter how low it drops, you would have locked in a decent chunk of profit.
ANyway, thats roughly how I do it, and have been doing since $100/BTC.
And sure, "had I known", it would have been better to keep those coins, but I dont regret my strategy one bit.
Absolutely. Please take the advice of someone who believes 350 * 100 = 350,000. Excellent Plan.
Right, so I missed a zero. That of course completely changes the logic
doesn't change the logic, but there is a *huge* difference between 35,000 and 350,000. :-)
If you have 35,000 then my advice is to wait for 350,000. Not that it's a small amount of money, but 35,000USD is an amount of money you could actually earn from a normal, not so special job. So in my mind it's "riskable", $350,000 however is not money you could actually earn from a normal job. It's more like a decade of working at a normal job. So yeah, I'd hold out for the "ten years of not having to work a regular job" level.
For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.
Definitely. Get rich quick always draws the masses in.
Just like the Poker boom was set in motion by an average Joe winning a huge tournament, the Norwegian story did wonders for Bitcoin. We need more of those.
Some people will never learn, even if you will have a proof in front of your eyes. One Swedish comes as an example who after few years was able to afford a house. We are far from mainstream which means it can still happen to everyone of us. There is only one condition. Don't sell now.
Fully agreed, taking all the chances I have with bitcoin, mostly holding, but trading a bit on Bitfinex to increase my little stash of coins. However, at some point I'll cash out to retrieve my initial investment, but only when it's a small amount in relation to my overall worth in bitcoins.For the record: He was Norwegian, not Swedish. And I think this story fueled quite a bit of the general public's recent interest in bitcoin.
One is still hoping that he can buy back at single digit.
Tell your friend good luck with that.
Well, there is still hope - to buy Bitcoin for single digit ounces of gold
Jump to: