Topic: What's your exit strategy? (Read 3860 times)

I already hit my exit strategy ...im cashed out into usd, and holding until I think we've bottomed out.

Exit from what? Bitcoin isn't going anywhere. Only the dumb speculators are getting screwed in this and quite frankly they deserve it.

So basically, you're still cheaper either way for people going BTC --> Gold.  Nice. 

waiting for Kim Dotcom to finish filling out his slush fund

My exit strategy:

(1). if the price keeps going up, hold what I have;
(2). if it falls to the point of my previous entry or below, buy more to push up the price;
(3). if it falls too low, mine it!

The coupon took off $8.6558.

http://www.youtube.com/watch?v=H3YLq-yZFjY

There is no such thing as an exit strategy.

As just revealed - most exit strategies consist of waiting for a big dip in the price, and selling at a loss.

GREAT JOB GUYS!

I'm not in it to "make money" - although, I was literally making money mining back in the days. I use Bitcoin for international transfers, and right now it works better than any other option. Doesn't really matter what the price is, albeit volatility like what we see today can be a problem.
All in all, I don't need an exit. I do trade, but that I consider play money. I'll keep playing.

Update: I found my exit.

I don't have an exit strategy but someone already revealed my strategy. That is to accumulate more BTC either by buying with fiat or trading and spend more and more of them gradually as the Bitcoin economy grows.

Accumulating by trading is a great strategy especially in situations like this, I managed to accumulate a decent chunk of BTC today.

Coinabul - you make a compelling argument, but what is your normal price (i.e., no coupon code, since that cannot be relied upon?)

+1

So, let's look at a nice coin: Austrian Philharmonics - 1 Troy ounce
That's listed at $1,730.8450 on Coinabul. Shipping costs are as follows: Coinabul Insured Express $43.9498 or Sent to you without insurance $24.5602

Let's look at the same price on Apmex: $1,752.64

I tried to calculate shipping costs... But at this point their server SSL certificate pooped out on me, so I couldn't even continue!

Let's look on Gainesville coins:
Bank wire price: $1,692.92 - CC price: $1,742.86

I selected Bank wire price... but I got this message: "Gainesville Coins is proud to provide a discount on bankwire purchases. Unfortunately, due to the high costs of receiving a bank wire a minimum order total of $2,000 is required to checkout with this option. We apologize for any inconvenience this may cause you. To continue please click on the pay by credit card button."

So at this point I have to switch to credit card.

Their shipping costs: UPS Ground - $25.50

So, we have a total of $1768.36 via Gainesville coins.

Let's pull that amount from Mt.Gox. I see a price of 13.1BTC per USD so, we need to liquidate about 135 BTC. That's a 0.55% fee on Mt.Gox... So, there's .7425BTC to Goxxy, or 9.73 USD. God only knows what fee you'll receive on withdrawal. So, even without withdrawal fees we're up to $1778.09 if we used Gainesville coins.

Or you know... We could purchase on Coinabul, avoid the heartbreak and pay $1,766.4684 (With the help of a handy dandy coupon code located in this thread).

I understand that some of the other coins have higher premiums, but that fact that a Bitcoin business can be competitive with a MONSTER site like Apmex or Gainesville is amazing. These sites are able to provide such low premiums because of the volume they receive. As Coinabul gets bigger, our costs will go down and we'll be able to do the same.

TL;DR: Apmex is technically inept, Gainesville coins prefers the larger investors, and we at Coinabul are doing our best :c

Lol... capitalize on the panic selling.  Good call.

I'll just leave this here:

Coupon code: ENDTIMES

(First 10 people to use this code on checkout get a discount!)

My 'exit' strategy is already in play - I'm exiting the dollar money casino and heading for the rational shores of the bitcoin algorithm. I honestly don't see fiat currencies surviving the next financial implosion.

I'm selling about 1/3 of my holdings at 16 dollars. That way I make my original investment back, the rest is gravy.

I'm prepared to buy a ton more when the price falls again.

The strategy I rely on is to realize a 100% loss.


The strategy I hope for is:

 - recoup my speculative investment if/when the price gets to around $100/BTC.  This will leave me quite a significant stash.

 - if the price gets into the $1000's/BTC then I'll start drawing down the value in exchange for shit I want.


Along the way I may or may not use BTC as I have in the past or as I expected to when I got in:

 - donations to causes I believe in

 - things which do not benefit by the capability to issue charge-backs (esp, pay-as-you-go services like compute service leases.)

 - ratcheting in transactions in lu of relying on trust to keep parties near whole.


A fly in the ointment in terms of using BTC is that I don't like most of the more 'convenient' ways of getting fiat into Bitcoin and I don't like the alternative of leaving a large balance on the books of an exchange.  This is a limiting factor to buying BTC in real-time as needed to use for odds and ends.