The REAL suckers detection poll | Bitcointalksearch.org

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: rhinospray on April 13, 2013, 05:45:13 PM

I cashed out half of my earnings when it was clear that we were in bubble mode, at 20x my initial investment (after being bitten twice by bubbles I finally applied the two rules of sound investment: earn money and let others win the last dollar)

Now I have 10x my investment in EUR, that will go back to diversified value investment that, till now has been the best protection for my money.

I also had 10x in bitcoins, but then you know what happened this week. If bitcoin manages to transition from a binary commodity to a currency and a safe haven, I will be only half the millonaire I could have been. Otherwise it will collapse to 0 as people understand it has no other value. I will try to anticipate that and save the little left.

And if everything goes wrong, then I will dig up the two kilos of gold buried in the garden ten years ago, split it in small pieces, and try to survive with that.

I think the "cash out a part at 10x profit" is a viable strategy if you have the need for the money or have another investment to diversify to.

I, for example, don't need the money. I am making more than I need every day. Also I don't have other investments that could deliver even nearly the same returns as bitcoin. So I am prepared to invest more and more into bitcoin and never cash out. The number of my bitcoins will only ever grow. If the protocol is destroyed, but the world somehow is not, I have enough gold and silver. But I don't have the urge to cash out of bitcoins no matter how high it goes. If anything, I will divert a part of the daily earnings to something else than bitcoins, just for diversification's sake.

rhinospray

newbie

Activity: 37

Merit: 0

Quote from: rpietila on April 13, 2013, 03:48:19 PM

Quote from: rhinospray on April 13, 2013, 03:44:21 PM

The only people that has earned something here are those that already have cashed out more than they cashed in.

The rest are Schrödinger's suckers. They will not know if they have earned money until they cash out

Yes, nobody can be sure whether he's made a good investment, before he has wasted the money.

Before that, you will never know.

You honestly think USD is some kind of end-all? I think that gold is. But we are both wrong.

Before that, you will never know.

I don't know so I have minimized my options to be wrong.

I cashed out half of my earnings when it was clear that we were in bubble mode, at 20x my initial investment (after being bitten twice by bubbles I finally applied the two rules of sound investment: earn money and let others win the last dollar)

Now I have 10x my investment in EUR, that will go back to diversified value investment that, till now has been the best protection for my money.

I also had 10x in bitcoins, but then you know what happened this week. If bitcoin manages to transition from a binary commodity to a currency and a safe haven, I will be only half the millonaire I could have been. Otherwise it will collapse to 0 as people understand it has no other value. I will try to anticipate that and save the little left.

And if everything goes wrong, then I will dig up the two kilos of gold buried in the garden ten years ago, split it in small pieces, and try to survive with that.

But then an asteroid could impact earth, or North Korea could start a nuclear war or whatever.

So yes, you will never know

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: rhinospray on April 13, 2013, 03:44:21 PM

The only people that has earned something here are those that already have cashed out more than they cashed in.

The rest are Schrödinger's suckers. They will not know if they have earned money until they cash out

Yes, nobody can be sure whether he's made a good investment, before he has wasted the money.

Before that, you will never know.

You honestly think USD is some kind of end-all? I think that gold is. But we are both wrong.

Before that, you will never know.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: rpietila on April 13, 2013, 02:44:09 PM

I think there are no REAL suckers in this forum.. By just reading it for 7 days as I have done, I have pretty much absorbed enough to never have a chance of losing money with this.

My gut says you will be among the top10 suckers. Be sure to buy now Grin

rhinospray

newbie

Activity: 37

Merit: 0

The only people that has earned something here are those that already have cashed out more than they cashed in.

The rest are Schrödinger's suckers. They will not know if they have earned money until they cash out

rpietila

donator

Activity: 1722

Merit: 1036

I think there are no REAL suckers in this forum.. By just reading it for 7 days as I have done, I have pretty much absorbed enough to never have a chance of losing money with this.

sStC9

newbie

Activity: 14

Merit: 0

I'm making money until the price drops down to single digit pretty much. I have expanded my 1850 bitcoins further and now possess some 2000. To do this I sold off during the all time high and then I bought back during the lows. Still have some speculation coin but I'm too damn confused about this now so they're just sitting there.

alexh

member

Activity: 183

Merit: 10

Definitely made profit, but bitcoin-24 got a part of it now... sucks.

Qoheleth

legendary

Activity: 960

Merit: 1028

Spurn wild goose chases. Seek that which endures.

Quote from: MatTheCat on April 13, 2013, 12:58:45 AM

If Bitcoin could get near to $150 again, I would short sell it in a minute of their was anyway that I could.

Bitfinex supports shorts.

mmortal03

legendary

Activity: 1762

Merit: 1011

Does broken even count as Lost money or Made money?

MatTheCat

hero member

Activity: 840

Merit: 1000

Quote from: regular on April 12, 2013, 12:41:18 AM

must be all smart money here. It seems like everyone on the forums here sold at 200+ and bought back in the double digits. Any tips on how to spot opportunities like this for someone who just sat on the sidelines holding?

That is what you might call a dead cat bounce.

A portion of the speculative investors, rush back in at what they believe are fire sale prices, which of course has the effect of pushing price back up beyond what it might otherwise be. In the long run however, fresh capital will not be attracted to an asset that has suffered an almighty crash with all the lame ass'd excuses from the likes of Gox just spreading yet more fear and distrust of the whole system. With the lack of new investors, and the miniscule real economic transactions conducted using Bitcoin, the near term turbo charge back to the previous highs doesn't quite materialise, resulting in more and more hoarders looking to rake in profits, which of course drives the price down.

If Bitcoin could get near to $150 again, I would short sell it in a minute of their was anyway that I could.

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: NikolaTesla on April 12, 2013, 12:20:01 AM

Are you up or down overall?

Since when, and using which measurement?

Qoheleth

legendary

Activity: 960

Merit: 1028

Spurn wild goose chases. Seek that which endures.

Realized gains are about 3 grand in FRNs, plus a few BTC, compared to the last time we were at this pricepoint.

If you want to include unrealized gains, I'm up about 12 grand since I bought in during the long stable period at $5.

Nesetalis

sr. member

Activity: 420

Merit: 250

i should say... From fall 2012 I had only maybe 1000$ USD worth of bitcoins... and very little fiat...
Today I have a few thousand USD worth of bitcoins, and I also lent 3,000$ USD to a room mate, purchased a 225$ monitor, 180$ shoes, and am sitting on a few thousand USD Tongue

Though I didn't sell or buy at the peaks or dips... I did well.

ehoffman

sr. member

Activity: 378

Merit: 250

Made 8K~9K$

But could have made a lot more...

Bought when it was 13$, and more at 45$.
Played it on alt-coins bubble, made 50% more BTC, then lost a lot, to finally come to the same amount I started with!
I also sold a few at 107$. I then sold all at 150$, re-bought higher, and re-sold everything at 230$.

So I could have made more, maybe double what I made, but hey, it's still pretty good! Now I'll put 8K in RRSP (nontaxable funds for retirement plan in Canada) and as cash advance to buy a house, and maybe do a trip with the rest (or from the RRSP tax return), I don't know yet...

EuroTrash

hero member

Activity: 728

Merit: 500

er.. depends what currency you define money in.

- bought coins for fiat at a much lower price than they are at now. But I sold some so over time my BTC count diminished. Hence I lost BTC to inflationary fiat.
- sold some coins for fiat. Ended up with more fiat than I put in. So made money in USD.

antimattercrusader

sr. member

Activity: 308

Merit: 250

Quote from: mgio on April 12, 2013, 01:03:47 AM

It's funny, it's all about perspective.

I invested 10k, when bitcoin was at 65 at that 10k was 50k, I was ecstatic. It was an amazing return and a good amount of money.

When that turned to 200k, I was even happier.

But now two days later, when it 75k (at 100), I somehow feels like a lost a ton.

So I'm up, quite a bit, but I feel way down.

I bought in at $5 and $7... but I know exactly how you feel lol

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Quote from: Krabby on April 12, 2013, 12:21:16 AM

Overall does not mean anything when you lose 50% of potential profit overnight :c

"Potential profit" does not mean anything. You either exchange btc to/from fiat, or you don't.

Coincrazy

newbie

Activity: 28

Merit: 0

Quote from: shmadz on April 12, 2013, 12:53:21 AM

Quote from: Krabby on April 12, 2013, 12:21:16 AM

Overall does not mean anything when you lose 50% of potential profit overnight :c

*disclaimer* I am a miner, though I do speculate (poorly) with the leftovers

anyways, I lost a ton of "potential" profit by selling at 20, 40, 100, 150, etc... all the way up to 200 at which point I was tapped out (I have a small hoard of coins that I am not putting up on the exchange, just in case)

I can't call the tops, or the bottoms, and I've quit trying.

I just sell enough to pay the rent, and if I have extra, I'll just hold on. When the price goes ballistic I might sell a little more and consider buying more mining equipment, but asics are kinda ruining it for me. (I don't like that I can't just go to the store and pick up some hardware, maybe someday)

lately I've tried to just keep half and sell half, but during the run up I couldn't hold back and sold nearly 3/4 of all my coins...

I cashed out and bought silver, and I kind of regret it, because I had no money left in the account to buy back in when it dropped, but I don't worry too much 'cuz I'm still hoarding some, and I still can make a few per week...

but still, moving forward I think I will try to keep at least some kind of minimum amount of both BTC and fiat in my account so I can take advantage of moves that go way beyond my expectations.

beautiful reply

I liked the place where you said I can't call tops or bottoms .... I'm like that but probably NOT as composed as you are

by the way, i'm a complete newbie

could you help me understand what a wallet is (As a file) in little MORE than layman's terms and how to secure it in a purely windows environment (I've tried linux and given up)

I have used PGP to send receive mail and can understand a key pair

But I am NOT a programmer or a BTC miner

TIA
regards

crazy_rabbit

legendary

Activity: 1204

Merit: 1002

RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: BitcoinAshley on April 12, 2013, 07:24:57 AM

Quote from: Nesetalis on April 12, 2013, 12:22:12 AM

I have more bitcoins than I did last week.
I have more USD than I did last month.
Win Win.

This ^

Yeah but we kinda want it to be those amount X1000. But your right, can't be greedy.

Topic: The REAL suckers detection poll (Read 3581 times)