Topic: What is your exit switch? (Read 707 times)
technical indicators. i've been all fiat since the last drop from 130s. got out mostly in the 120s, was lucky enough to take more profits higher
In other words, my "exit point" would be if I were not able to spend or exchange it easily - however, if this ever happens, it won't make sense to spend time "exiting" - just keep the coins as a suovenir.
Same for me. Just like I would keep precious metals in case of a collapse (like to literally 0.00 per troy ounce)
Im here to exit the Eur/Usd denominated world.
As long as I can use it, I'll keep using it. In other words, my "exit point" would be if I were not able to spend or exchange it easily - however, if this ever happens, it won't make sense to spend time "exiting" - just keep the coins as a suovenir.
This metric (being able to use Bitcoin) has only been getting better over the past few years - there are more and more places accepting and exchanging coins, more and more users, and there is even some progress on the regulatory side (growing pains mostly, but nevertheless). I don't expect giving up any time soon, and I am perfectly content with ups and downs ahead of us.
This metric (being able to use Bitcoin) has only been getting better over the past few years - there are more and more places accepting and exchanging coins, more and more users, and there is even some progress on the regulatory side (growing pains mostly, but nevertheless). I don't expect giving up any time soon, and I am perfectly content with ups and downs ahead of us.
I'm pretty much all in, so I'll hold till about $0.01 on the low end.
The tougher question is: "When do you cash out if bitcoin is going way up?"
It will be very hard not to at least take my profits out when I've doubled my money (for me, that would be around $200).
From there on out, I think I would free roll it till $1000....but honestly if it goes THAT high, it's nearing full on adoption as a legitimate alternate, global currency...and then there's nothing stopping it from going to $100K or more. So it would be short-sighted to cash out at a "measly" 1K.
The tougher question is: "When do you cash out if bitcoin is going way up?"
It will be very hard not to at least take my profits out when I've doubled my money (for me, that would be around $200).
From there on out, I think I would free roll it till $1000....but honestly if it goes THAT high, it's nearing full on adoption as a legitimate alternate, global currency...and then there's nothing stopping it from going to $100K or more. So it would be short-sighted to cash out at a "measly" 1K.
I might cash out some coins starting at $150+
Otherwise I will hold it all the way down to 0.
Otherwise I will hold it all the way down to 0.
the money throw in to btc its like gambling for me.
i wont mind if i lose all but would be glad if raise the value
i wont mind if i lose all but would be glad if raise the value
On the downside, I'll ride it all the way to $0.
I consider the funds used to acquire bitcoin as already gone. Either bitcoin makes it or it doesn't, but cutting losses is a sure fire way to guarantee that I'll have losses. I'd rather hold and see if it comes back up.
On the upside, I plan to hold it until it reached mainstream use and I can use it in my daily life as easily as I use cash. No need to "cash out" if I can just earn and spend it directly.
If it reaches an exchange rate of $100,000 per bitcoin without having yet reached daily mainstream use, I might consider cashing out a portion of it, but that will depend a lot on my own financial situation at the time.
I consider the funds used to acquire bitcoin as already gone. Either bitcoin makes it or it doesn't, but cutting losses is a sure fire way to guarantee that I'll have losses. I'd rather hold and see if it comes back up.
On the upside, I plan to hold it until it reached mainstream use and I can use it in my daily life as easily as I use cash. No need to "cash out" if I can just earn and spend it directly.
If it reaches an exchange rate of $100,000 per bitcoin without having yet reached daily mainstream use, I might consider cashing out a portion of it, but that will depend a lot on my own financial situation at the time.
What everyone else already said:
Do NOT invest what you cannot afford to lose.
Develop a relationship with several bitcoin 'dealers' from bitcoin-otc, localbitcoin, etc. When you need to SELL, you'll have contacts.
If you bought in when the price was relatively low, sell enough to get back your investment. If the price falls to zero, you lose nothing.
Promote BTCs so that the price will not collapse.
Do NOT invest what you cannot afford to lose.
Develop a relationship with several bitcoin 'dealers' from bitcoin-otc, localbitcoin, etc. When you need to SELL, you'll have contacts.
If you bought in when the price was relatively low, sell enough to get back your investment. If the price falls to zero, you lose nothing.
Promote BTCs so that the price will not collapse.
Don't invest what you can't afford to lose
when the govt comes in, it's time to say byebye
when the govt comes in, it's time to say byebye
If most of the community drops out then so will I. Not sure about other criteria.
my lowest price to sell is $0.01 USD
Everyone must have an exit switch in case the kaka hits the fan and Bitcoin drops arse or if Bitcoin hit a certain price match and it would make life substantially easier to cash out. Just wondering what would you need to happen to set that switch to cash out ASAP.
Would it be a low price?
High price?
Regulation?
Strong International/National economy?
Personal financial situation?
Stable price?
Massive price instability?
Give everyone an insight to what you think would make you push the big red button and call it quits.
Would it be a low price?
High price?
Regulation?
Strong International/National economy?
Personal financial situation?
Stable price?
Massive price instability?
Give everyone an insight to what you think would make you push the big red button and call it quits.
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