When is enough, enough? | Bitcointalksearch.org

BenAnh

hero member

Activity: 518

Merit: 500

Quote from: lynn_402 on March 31, 2014, 06:23:23 PM

Quote from: miroman86 on March 31, 2014, 05:55:56 PM

I started getting into Bitcoin early this year. First coin I bought was around $800, and now its around $450. I was just wondering when it will be enough for the people around here? What is you're "sign" that you have to cash out and say goodbye?

I'm asking because I don't want to step out and walk away. Not only have I invested a lot of my savings into this technology, but I believe in the technology and the positive impacts that it can give to the whole world. There's been countless bad news since I started getting into Bitcoin, and recently, there has been a lot of good news, but the prices are still going down... I think for me, if doesn't get the right recognition/acceptance/price by the end of the year, I'm out. Probably keeping one BTC, but mostly try to get back what I spent.

Don't get me wrong, I would love to be in this for the long haul, but if I've already lost enough that it would only lead to stress and financial problems, I'll be thinking twice. Right now I still believe in Bitcoin, and it sucks that most people are ignorant and disregard this new technology, and its hurting us.

So what is it? What is you're "I'M DONE" sign?

Keep in mind that you have not lost anything until you sell. Market price is irrelevant if you are prepared to hold for a few months.

Agreed! You have not lost anything yet until you actually sell the coins. I would not like to speculate but last year I predicted it to be at $500 and surprisingly it passed that with almost doubled. For 2014 I would predict it to hit $2k with my knowledge and experience, and of course this is my own opinion. I would recommend you to sell at $1k since that's when you can make a profit but don't feel bad if you sold at $1k and when it hits $2k by the end of the year. Being greedy is a good thing but as a smart investor your goal is to make a profit with the available resources. Only the most experienced and lucky ones make the maximum profits.

Dipt

newbie

Activity: 40

Merit: 0

When the time is there that I can say I want out, Bitcoin is allready accepted big time... so stepping out would mean back to FIAT and that's not why i'm in here for. Yes the price has dropped, that sucks if you bought in high but it will rise but when that's the big ?
The bad news being spread is just for trainmissers to step in, that's my thought.
We should hang in there, and if you see how many new company's start accepting/using Bitcoins in there daily work now, that means something. Grin

Swordsoffreedom

legendary

Activity: 2758

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: FreeJack2k2 on April 01, 2014, 12:15:55 AM

Bitcoin adoption is a marathon, not a sprint. A lot of things still have to happen before it can start really penetrating the mainstream and in the meantime, the volatility will continue. This is something you need to take at least a five year outlook on. Some people day trade and they take the short term view, but in my opinion, the winners will be the ones who stuck it out.

I agree it definitely is more about perseverance and long holding than short term
Lots of people lost money in 2011 in 2012 and in 2013 and bitcoin still exists and has been growing stronger
No reason to back away now

FreeJack2k2

sr. member

Activity: 364

Merit: 250

Bitcoin adoption is a marathon, not a sprint. A lot of things still have to happen before it can start really penetrating the mainstream and in the meantime, the volatility will continue. This is something you need to take at least a five year outlook on. Some people day trade and they take the short term view, but in my opinion, the winners will be the ones who stuck it out.

superdork

full member

Activity: 126

Merit: 100

I'm in it for the long hall. If I lose what I have in, so be it, but I think that there is a future in BTC. I also think that too many people and corporations have invested in it at this point for it to just go away.

ps- There are ways to still grow in the bitcoin world even when prices are down and/or dropping...

elavenil

full member

Activity: 182

Merit: 100

At this stage mining is not profitable. SO people stop mining. It will increase scarcity.In the long run price will increase.

jonald_fyookball

legendary

Activity: 1302

Merit: 1004

Core dev leaves me neg feedback #abuse #political

Quote from: franky1 on March 31, 2014, 08:25:45 PM

thinking of when to get out, to then put your losses into a FIAT account at a 1% gain per year will mean that the $800 you had which you sell for $450. would need to sit in a bank account for 50 years+ just to get back to $800 again.

yet you can simply BUY another bitcoin for $450, which averages your "break even/profitable point" to then be $625.
so you can then:
sell out when the price gets to $625 to cash out your 2btc total of $1250 (breaking even $800+$450)
or making a profit by selling above the $625 value to make a profit.

you have not lost untill you sell at a loss... and smart investors never sell at a loss. they either show patience or they average down.

if you dont want to invest more to average down. then atleast show patience.

This is correct. Dollar cost averaging is a well known, time tested investment strategy.
It only fails if you are using too much leverage (margin), or if the instrument never recovers.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Enough is enough when I die of starvation.

Not before.

b¡tco¡n

member

Activity: 84

Merit: 10

Correct Horse Battery Staple

I assume you don't actually need to cash out, but you are tempted due to frustration or fear of further loss. I'd say hang in there. We'll see $1k+ bitcoins again and maybe higher.

Bit_Happy

legendary

Activity: 2100

Merit: 1040

A Great Time to Start Something!

Quote from: franky1 on March 31, 2014, 08:25:45 PM

thinking of when to get out, to then put your losses into a FIAT account at a 1% gain per year will mean that the $800 you had which you sell for $450. would need to sit in a bank account for 50 years+ just to get back to $800 again.

yet you can simply BUY another bitcoin for $450, which averages your "break even/profitable point" to then be $625.
so you can then:
sell out when the price gets to $625 to cash out your 2btc total of $1250 (breaking even $800+$450)
or making a profit by selling above the $625 value to make a profit.

you have not lost untill you sell at a loss... and smart investors never sell at a loss. they either show patience or they average down.

if you dont want to invest more to average down. then atleast show patience.

franky1 is correct.
Shhhhhhh....Don't tell the noobs how to avoid all losses. Cheesy

franky1

legendary

Activity: 4214

Merit: 4458

thinking of when to get out, to then put your losses into a FIAT account at a 1% gain per year will mean that the $800 you had which you sell for $450. would need to sit in a bank account for 50 years+ just to get back to $800 again.

yet you can simply BUY another bitcoin for $450, which averages your "break even/profitable point" to then be $625.
so you can then:
sell out when the price gets to $625 to cash out your 2btc total of $1250 (breaking even $800+$450)
or making a profit by selling above the $625 value to make a profit.

you have not lost untill you sell at a loss... and smart investors never sell at a loss. they either show patience or they average down.

if you dont want to invest more to average down. then atleast show patience.

Waramp22

sr. member

Activity: 321

Merit: 250

Quote from: durrrr on March 31, 2014, 06:36:14 PM

Quote from: crocko on March 31, 2014, 06:35:12 PM

Most people will quit when the income from mining will be smaller than the cost of the electricity + maintenance

what do you think will happen when no more people are mining bitcoin but there is still bitcoin left to be mined?

People will never quit mining bitcoin as long as it is a valuable and spendable. The insane difficulty that we had reached would slowly adjust down to reasonable levels and it would once again be profitable for a small time miner hop in and make money with it. The beauty is that by mining you are supporting transactions. By keeping mining profitable it ensures a long term decentralized network with lots of support all over the world.

cryptoanarchist

legendary

Activity: 1120

Merit: 1003

I can see how all the people who bought at the end of 2013 are getting frustrated - but you will always regret it if you sell now. Trust me, I sold off way more than I could afford now towards the end of 2011 when they were around $3, because they had fallen from $30.

Dalmar

hero member

Activity: 1092

Merit: 500

Life is short, practice empathy in your life

Quote from: durrrr on March 31, 2014, 07:28:50 PM

so why was the bear market of 2011? also why is it not included on that one graph? do you think we are having another bear market coming where we might see a slow decline over the next year? i wouldnt like htat at all

Mt.Gox has the oldest chart history, many of the younger exchanges like bitstamp are missing 2011 data.

durrrr

sr. member

Activity: 434

Merit: 251

so why was the bear market of 2011? also why is it not included on that one graph? do you think we are having another bear market coming where we might see a slow decline over the next year? i wouldnt like htat at all

Dalmar

hero member

Activity: 1092

Merit: 500

Life is short, practice empathy in your life

Quote from: designfail on March 31, 2014, 07:20:51 PM

This chart looks too good to be true. I wouldn't take such optimistic charts seriously if I be you. I would say: take both very positive and very negative info with extreme care.

That chart is missing the bear market year of 2011:

Could happen again for all we know (93% reduction from ATH).

Bit_Happy

legendary

Activity: 2100

Merit: 1040

A Great Time to Start Something!

Quote from: MarketNeutral on March 31, 2014, 07:07:17 PM

I don't want to give away anything yet, but rest assured that by the end of the summer, the bitcoin ecosystem will look extremely different.

People selling now will regret it.

We don't know how long, but things will get much better.

Swordsoffreedom

legendary

Activity: 2758

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: miroman86 on March 31, 2014, 05:55:56 PM

I started getting into Bitcoin early this year. First coin I bought was around $800, and now its around $450. I was just wondering when it will be enough for the people around here? What is you're "sign" that you have to cash out and say goodbye?

I'm asking because I don't want to step out and walk away. Not only have I invested a lot of my savings into this technology, but I believe in the technology and the positive impacts that it can give to the whole world. There's been countless bad news since I started getting into Bitcoin, and recently, there has been a lot of good news, but the prices are still going down... I think for me, if doesn't get the right recognition/acceptance/price by the end of the year, I'm out. Probably keeping one BTC, but mostly try to get back what I spent.

Don't get me wrong, I would love to be in this for the long haul, but if I've already lost enough that it would only lead to stress and financial problems, I'll be thinking twice. Right now I still believe in Bitcoin, and it sucks that most people are ignorant and disregard this new technology, and its hurting us.

So what is it? What is you're "I'M DONE" sign?

I guess 45 dollars lol....
But probably 1800 Is enough for me to feel satisfied and get rid of a few coins

designfail

member

Activity: 86

Merit: 10

Quote from: miroman86 on March 31, 2014, 06:16:29 PM

Quote from: ujka on March 31, 2014, 06:08:37 PM

Graph of the day:

That actually says a lot... Thanks for this! Good to know at least...

This chart looks too good to be true. I wouldn't take such optimistic charts seriously if I be you. I would say: take both very positive and very negative info with extreme care.

MarketNeutral

sr. member

Activity: 392

Merit: 251

I don't want to give away anything yet, but rest assured that by the end of the summer, the bitcoin ecosystem will look extremely different.

People selling now will regret it.

Topic: When is enough, enough? (Read 3009 times)