www.Circle.com or
www.Coinbase.com are easy solutions with minimal to no fees. You can also use
www.LocalBitcoins.com for a swift cash deposit at an above preev price. Nor, do you mind me asking what your average buy price is for your stockpile? Pure curiosity.
I thought that he already said around $280, so even selling at $380, he would be up $100 per BTC.. something like that.
ohhh he meant at what price i bought them. sorry i thought you said at what price i am selling them..
I'm not going to go back through the posts, but my recollection, more or less, was that you asserted that you hold about 190 BTC, and you were becoming somewhat anxious regarding when to sell them.. but also Peonminer was asking you about your average buy price.
I had understood that you had made a couple of purchases, and that your profits would be around $100 per coin, if you sold at current price.
I don't recall whether you specified if that was your average buy price only for the 40 coins or if your total portfolio had an average buy price in the upper $200s.
You know many of us who have been buying BTC for a while, and even trading BTC to some extent have made a large number of transactions, and we come up with a variety of ways to attempt to calculate our average costs per BTC and the extent to which we are profitable or not.
I personally think that these profitability considerations are all valid, and also, I am totally accepting of the fact that posters have a considerable variety in their ways of calculating their investment in bitcoin and the extent to which they may be profitable or not.
You do not necessarily need to disclose either your total number of coins or your average buy price or your framework; however, sometimes it can be helpful towards considering what to do and how to perceive your situation... and peonminer was asking you about your average price per btc for your whole BTC holdings... which is up to you whether you disclose such details.
oh right, no i dont mind disclosing, its considered as informative.
100 below $230 and 50 between $230-$245 (banked a large cash so converted a portion) and around 40.69 between $260-$290
thats why i wanted to sell a little bit over $400. i would feel more profitable. but still, in about 24hours, ill drop maybe 30-35coins. just to get a little bit of liquidity and the rest i will keep them (for the time being because the situation is not yet critical critical) but if it drops to $380-$385 am dumping all and do something else with my life.
So your average buy in price is quite a bit less than what I had initially thought that you had said..
Anyhow, based on what you said, I will place your average buy in price around $245 per BTC, and your total amount invested around $45k.
Actually cashing out all or a very large portion of your BTC holdings may not be a bad idea, because taking or locking in profits can be a good thing and then to reconsider your situation.
One problem with taking profits;however, could be tax consequences, and you may want to consider keeping some of your bitcoins invested in BTC in order that you will not need to consider tax consequences (at least defer such considerations until when you cash out).
But that is a personal choice.
It seems that your personal amount invested in BTC is around $45k, and the value of your BTC holdings is around $75K (at $400).
Personally, I would recommend that you consider some form of moderate approach in cashing out that would keep a portion of your BTC holdings.
You could cash out a bit over half of your BTC holdings or even around half, and get back most of your initial dollar investment, but even if bitcoin remains, quite volatile, if you continue to hold 50 to 90 BTC, you will still be in a considerably decent position without having a whole lot of your personal money invested (mostly just profits), so for example, you could cash out the equivalent of $45k, and still maintain nearly half of your coins for the longer term...
Anyhow, ultimately, the choice is yours to make in light of your total circumstances.
By the way, providing specific numbers does help us to consider your particular matter more thoroughly, but it does also disclose personal information about you too that may not be necessary in order to brainstorm with you about considerations in making a decision.. because ultimately, when you make a decision about what to do with your bitcoins and your life investment choices, you are likely weighing other factors merely beyond your bitcoin holdings.
you are totally on target about what i am planning to do. but i have to say if this is a plan of the whale then the scenario has already been made once. remember it reached a top high $320 and then drop to $220 (thats when i thought it was wise to buy fast)
then few months later it topped over $400.
now, i am not saying i should not cashout, but like you said, cashing out a small considerable amount to keep the cash in liquid money and able to do something about it is not a bad idea. i actually like your reasoning and you have been speaking my mind out.
few hours from now, i am going to sell 35 btc at $400 per btc. but the minimum buying is 1btc and not less.
if i do happen to do it, ill let you know. but if i dont you will see me speculate about probable positivity on the thread again lol.
edit : if any of you have a good reliable idea or exchanger i can cash out 35btc at once. let me know.
Regular verified Coinbase accounts allow you to cash out $50,0000 at once. You can also create an account on uphold and cash out without moving the coins to a bank... or you can put all your cashing out coins on circle or coinbase, and just convert the whole account to dollars... which is effectively accomplishing the cashing out for free... and then just withdrawal at your own pace.
international bank transfer is possible from coinbase??
Maybe limitations depend upon which country you attempt to set up an account, and from where you have a bank account?
Here's a coinbase link that describes USA, Canada, and various other European countries that are possible. I am not familiar with all of the options, and probably will depend upon your country, too.
https://support.coinbase.com/customer/en/portal/articles/1392031-can-i-buy-bitcoin-with-an-international-bank-account-credit-card-or-paypal-Edit 1: I looked at your profile, and you have been participating in bitcoin forums for nearly 4 years, so you should know these various options, no?
Edit 2: Rich93 beat me to most of the content of my post.. ...
its a bought account from mid last year. anyways,
dumped 100 on localbitcoins few hours ago. it was still above $393. looking at the price it is now, i am quite relieved!
Yeah, maybe you can rest a little bit better now.... .. and yeah if you liquidated half of your holdings, then at least you got out all of the profits, and you don't have to worry so much.
I do have a hard time considering that you would be able to liquidate that many coins very quickly on localbitcoins... but I suppose it is possible.. to get lucky and find someone with that much cash.
I attempt a little bit to buy and sell bitcoins, and coincidentally, I sold 3BTC on Local Bitcoins for $408, about 1 hour before the price dropped.
But at that time, I was feeling quite unclear about the direction of the price, and i wanted to lock in some of the profits right away, so I bought 2BTC back at $393 and then after the price dropped .5BTC at $383 and another .5BTC at $377. I am feeling pretty good about that whole situation, even though it is small numbers, but I also am prepared to buy some more BTC if the price continues dropping lower and to sell some more on the way up, which to me seems more likely..
I seem to be much more bullish about bitcoin than you... and I have a hard time believing that we are going down from here... rather than up (but I have been surprised several times before in my bitcoin price anticipations).
yes i got my investment back for the rest i dont know yet, but depending on the market situation i will see if i will drop them or keep them (tho i want to keep them)
if there is one thing i learnt, do not hope. if you see a downfall drop your coins, you can always buy them again later.
i had to do different trades, most of them havent been completed yet but i jumped in on the 393$ price at least i know its safe.
moneygram, westernunion, banktransfer i did all of them before its too late.
even if the price jumps over $500 by a miracle i know i still have a few left to win on this too.
also, analysing price on btc you will always find drop and rise. thats how big wallets gets richer. (not jealous but i do envy them)
I think that each of us find our own way and our own comfort level in BTC investing.
I have a few other investments besides bitcoin, and surely my situation is different than yours because I was accumulating coins between 2013 and now, and I ONLY began to trade (or sell) in about October 2015.
Anyhow, I only trade about 1% of my stash at a time, and cumulatively the amount that I am trading could add up to 10% over a large number of trades. At some point, in the future, I will likely trade a larger portion of my stash, but anyhow for now, it is working for me, because I have sufficient coins and dollars to have tentative trades stacked up and down the various BTC price ranges, and I feel that I profit either way... though at this time, I profit quite a bit more if BTC prices go up...
Anyhow, I am still practicing in trading, and if I believe the price is going down and it seems to be a fairly sure bet, then I would not mind selling a higher portion of my coins, but generally I plan ahead in order to buy on the way down and sell on the way up.. I don't generally sell on the way down or buy on the way up... at least not these days.
I don't see any real large downward potential in this price range.. and to me it seems a much better bet to wager on BTC going up, but I could see a selling time in the $3k to $5k range or maybe at some other various price points, depending upon how fast BTC prices were to go there.
Regarding the most recent November 4, 2015 price spike. I was not really able to take advantage of that because I was just getting my grounding on trading, and I did not have very good concepts of how the stacking of funds on each side works... Anyhow, my portfolio and my stacking of bets seems to be much better prepared now for another $502 (or similar conceptual) spike, if one were to occur, than I was when it happened on November 4.
i had a large portion of LTC bought at 0.68 sold at 0.50, i just checked the price and if i had been holding on my LTC and bought some dash, i would have probably made 9 times the investment i did at that time. but oh well, all i am happy with is that ive got my investment back with some profit and i am now in a better position than i was 5days ago with all the nail biting thing going on.
i will buy again, for sure i will. once i see a slight improvement in the price traction moving up, as slight as it might be, i seize the opportunity and buy as much as i can afford.
but as long as no solution is found for the current problem and stakeholders do not fear the price going way down it is now, i dont see any improvement happening until March-April.
the price might reach under $300 but it will rise again. the name, the fame will make it rise again. but not now. it will take time.
