Why didn't you sell? - page 10. | Bitcointalksearch.org

ScrapOfCat

full member

Activity: 197

Merit: 100

Quote from: ?? on ??

High sight is always 20/20. I love how every dip is becomes "obvious". Every day there is a "ITS GOING TO CRASH" threads popping out, and when it finally does, someone is happily telling you "TOLD YOU SO", even when he was all other times.

Even if possibility was there, i am not a daytrader and not comfortable converting to fiat and starting and graphs all day long.

+1

Good luck to the time travelers.

Wilhelm

legendary

Activity: 1652

Merit: 1265

Because it's a bitch moving your money out and back into cold storage.

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: JayB on December 07, 2013, 05:20:34 PM

Now I can think of 4 possibilities:

1- You thought the price will go back up and so got hold of your Bitcoins --> Very bad decision
2- You couldn't sell them due to the lack of buyers --> Plausible but unlikely
3- You are emotionally attached to your Bitcoins so you don't want to lose them no matter what --> You need a psychologist
4- When you found out about it, it was already too late --> I forgive you

See, if you sold (large portion) on the presumption that bitcoin necessarily would go down due to CNB remarks, you were gambling - because bitcoin didn't, for at least 24hrs. In the same timespan, Zimbabwe could have announced that bitcoin becomes it's national currency and suddenly the only way to obtain investable quantities of elephant poop is with bitcoins and the price would rise instead. Or the market could have almost totally ignored the news (as it did, initial 20% dip and immediate recovery was all that happened) and then some investors caused the crash by taking too much profit. So you never know, and if you don't actually have a way to predict the immediate movements of bitcoins with above-50% certainty, it's a gamble. So it's much safer to just buy the dips, unless the longterm trend would've turned down, but in that case we'd be at zero by now, since the only way it could happen if bitcoin is not usable anymore.

zubelutte

full member

Activity: 129

Merit: 100

Quote from: JayB on December 07, 2013, 05:20:34 PM

For those who had Bitcoins right before the Chinese Government's announcement this week and didn't sell them right after the announcement, why didn't you? I'm just curious.

If you think you will always see profit trading, your wrong. This time you was lucky, so cheer it

ScrapOfCat

full member

Activity: 197

Merit: 100

I didn't sell because this is penny ante bullshit.

I didn't buy bitcoins to fuck around.

DaSheep

member

Activity: 112

Merit: 10

because I was buying and there was no reason for a crash since the china news wasn't bad.. just misunderstood.

I have huge balls, too.

CounterStrike

sr. member

Activity: 294

Merit: 250

Quote from: lindatess on December 07, 2013, 11:07:27 PM

You probably wouldn't have been able to sell through a common channel.

Furthermore, high fees would have been required (both bitcoin tx and fiat fees).

Furthermore, cashing out of fiat would be very costly and would undoubtedly be delayed.

I did however sell some on localbitcoins at $800 a piece when the price was $1200.

I will buy from you for $1000 a piece when the price is $1200... !!!!

Rampion

legendary

Activity: 1148

Merit: 1018

Because I already cashed in so much fiat profit by selling aprox. 10% of my BTC a couple of weeks ago that I don't need to sell any more Bitcoins in the next 3 years... Unless we'll hit $3,000 - then ill sell another 10%.

No need to risk your coins by day trading. If you have a decent volume slippage kills you, and fees are insanely high too.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

Quote from: lindatess on December 07, 2013, 11:07:27 PM

I did however sell some on localbitcoins at $800 a piece when the price was $1200.

You sold your coins for 67% of the actual rate? That's horrible. We had one vendor in Bitmit, who would mail banknotes in exchange for BTC, for a paltry 4% commission. Even after taking in to account the postal charges, the seller would get 94% of the going rate.

Also, there were a few buyers in Localbitcoins who paid using Western Union. They paid 90% of the going rate.

lindatess

full member

Activity: 140

Merit: 100

You probably wouldn't have been able to sell through a common channel.

Furthermore, high fees would have been required (both bitcoin tx and fiat fees).

Furthermore, cashing out of fiat would be very costly and would undoubtedly be delayed.

I did however sell some on localbitcoins at $800 a piece when the price was $1200.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

I tried my luck with short selling the day before yesterday and got my fingers burned. I am never going to do it again.

BTC is a wild currency. No one can predict when the prices will go up or down.

embracebitcoin

newbie

Activity: 8

Merit: 0

because you cant predict how far it crashes, and even if it crashes in the first place, because bitcoin is very volatile and unpredictable. It may as well have been a minor dip and went even higher.
It's always easy to draw conclusions after the fact. Seems to be common amongst traders.

beetcoin

sr. member

Activity: 434

Merit: 250

also another reason: you did not have a plan to cover taxes. i haven't even owned my coins for a year yet too.

bg002h

donator

Activity: 1463

Merit: 1047

I outlived my lifetime membership:)

...because I don't need dollars...

JayB

newbie

Activity: 42

Merit: 0

Quote from: zeroday on December 07, 2013, 08:26:13 PM

#1, because I love making bad decisions and I made me rich Grin

Good for you I hope you'll always be

But you didn't give me a rational answer

zeroday

donator

Activity: 784

Merit: 1000

#1, because I love making bad decisions and I made me rich Grin

leoragraves666

full member

Activity: 227

Merit: 100

Simply can't bother. Waiting for more serious amounts.

JayB

newbie

Activity: 42

Merit: 0

Quote from: joburgtaxi on December 07, 2013, 07:44:37 PM

Quote from: JayB on December 07, 2013, 06:32:52 PM

Quote from: joburgtaxi on December 07, 2013, 06:30:31 PM

this is very similar to what i posted 2 days ago https://bitcointalk.org/index.php?topic=358584.0;topicseen

So you agree with me? does my logic make sense to someone at least? :p

As per my post linked above, logically it does make sense. I can say that I managed to actually execute the plan that is being described here and come out with more BTC after the crash BUT !!!!!! I can tell you this it was a very hair raising experience anticipating the right moments to buy and sell and agree that this method may work sometimes but repeated over and over could get you into trouble.

Timing is EVERYTHING and VERY easily missed and these transactions of Buy/Sell take time to execute and in the mean time the market is marching on..

That my 2 cents worth Wink

I agree! Thank you for your positive contribution to this thread

The reasons why you can't sell on the spot is because volumes are not big enough yet for this market, and this was one question I had that I needed an answer for, so thanks for making it clearer to me...Cheers

joburgtaxi

full member

Activity: 263

Merit: 101

Quote from: JayB on December 07, 2013, 06:32:52 PM

Quote from: joburgtaxi on December 07, 2013, 06:30:31 PM

this is very similar to what i posted 2 days ago https://bitcointalk.org/index.php?topic=358584.0;topicseen

So you agree with me? does my logic make sense to someone at least? :p

As per my post linked above, logically it does make sense. I can say that I managed to actually execute the plan that is being described here and come out with more BTC after the crash BUT !!!!!! I can tell you this it was a very hair raising experience anticipating the right moments to buy and sell and agree that this method may work sometimes but repeated over and over could get you into trouble.

Timing is EVERYTHING and VERY easily missed and these transactions of Buy/Sell take time to execute and in the mean time the market is marching on..

That my 2 cents worth Wink

JayB

newbie

Activity: 42

Merit: 0

Quote from: Desensitizer on December 07, 2013, 07:37:12 PM

I think there is a fairly obvious and quite simple reason that you are missing. Not everyone follows Bitcoin news and the exchange rate as closely as you do. Some people check in only occasionally or sporadically and ended up missing out.
Even more importantly, some individuals simply decided when they purchased their bitcoins to buy and hold, a very common investment strategy. Not everyone wants to be a daytrader.

No I'm not missing anything, in fact those two reasons, are included in the 4 reasons I mentioned...

I just think an opportunity is being missed here.....

Topic: Why didn't you sell? - page 10. (Read 13315 times)