Bitcoin Forum

How much belief do you have in BTC  ;D

I am only cashing out, if Bitcoins becomes FU money, like if my wealth turns into $100million then I would have no choice. Otherwise I am here for the long haul.

I'm not planning to cash out. I hope in few years we could buy most things for bitcoin. Fiat burns holes in my pockets.

That would be my hope.  I hope society cashes out of fiat, and that's that.

Exactly.

I plan to sell in steps as the price rises, I just haven't quite figured out what those steps should be.

Maybe 20% @ $100, 20% of what's left @ $500, 20% of what's left after that @ $1,000, same again @ $5000, again at $10,000, etc.

That way, I always have something to sell when the price rises, no matter how far it rises.

I originally had small staggered sell orders starting at 7 and moving up at 19% increase intervals.  That would have sold half the coins I bought at 2 by the time the price reached 100.  During the period of stability around 5, I canceled them all.

Tax reasons.  I didn't make the rules, and I don't like them, but I've gotten pretty good at playing by them.  I haven't paid income tax in years, not because of any fraud on my part, but simply because I limit my taxable income.  If I sell my coins, that streak will come to an end.  So a major cash out is no longer part of my plan.

And as others have mentioned, the necessity of converting back to any other currency to spend is declining daily.

I already cashed out. I got out of USD and now have real money.

If this happens you will probably find a few companies selling a yacht for BTC  (unless USD hyperinflates e.g. when you have to pay $100 for a hamburger....it doesn't take a lot of companies to join to get to $4k+ per BTC then)

I'm not planning to cash out at any point - I'm trying to get what I need for BTC - and I really don't need fiat money. If I wanted to cash out e.g. @ $50 per BTC I would not only have to pay a lot of taxes when cashing out, but I'd also have to pay taxes for products purchased with my fiat money....

you must be crazy

Crazy like a fox  8)

Bitcoin is not working the way that it needs to in my opinion, I am hopeful that ltc will bring the bitcoin community in line. What I see is a bunch of banker wannabees
a bunch of speculators and greedy people. I love the idea, but I think the community that bitcoin has built is based on greed bitcoin is already a manipulated market people are just holding coins off the market, just like gold and silver manipulation. I hope ltc coin takes off fast and makes it more accessible and brings the btc price down.

You said:


and also:


This sounds like you're extremely greedy and jealous.

LTC has even more speculators, greedy people, and wannabe early adopters in proportion to people running legitimate businesses and trying to grow the coin.

Cash out? I am never going to convert my bitcoins into dollars. I will only spend them as bitcoins for goods and services.

I'd imagine having 20,000BTC/month in profits from SatoshiDICE probably helps him live without USD.  ;)

If we're talking about trading strategy, I've sold about 75% of my coins since I bought in at $5. I'll sell half of what I have left by the time we get to $44.

If we're talking about selling coins and exiting the proceeds from the Bitcoin economy, it'll only happen if something comes up in my day-to-day life that requires me to dip into my BTC investments for cash, or if for whatever reason my long-term confidence in bitcoins goes away.

You're hoping that LTC, which is only used by emo-sad miners that want to just print their own money again because of their greed....does something other than that? You make me laugh.

He is still mad that theymos didn't know who was and let him hold on to 500BTC funds for the forum. Kinda getting annoying with his whining. Bitcoins is not for 12yrs.

I would buy some silver as insurance. Otherwise I will start my journey around the globe as an eccentric vagabond.

actually, quite similar thinking here.. except I'll be cashing out enough to pay off all my FIAT debt (including mortgages) when it hits $4,000 per BTC.

the rest will be providing hookers and blow a very comfortable retirement.

Sigg

Dude I dont want those coins, I am 31 I am married I have a son and another child on the way. I have been a business owner for years.

 If you dont see that ltc is going to be huge you are a fool. It will help regulate the cost of btc and if they get manipulated then their will be another coin. If your coins are over valued and hard to get people will buy litecoins which are undervalued and easy to get. It is not rocket science guys not much barriers to entry for new coins. Bitcoin is not the only game in town.

You should be embarrassed at the way you whine, I wouldn't have told anyone your 31 cause I seen 16yrs on here act better than you.

Greed is part of human nature.  Little old ladies stash cash under their mattresses, people hoard precious metals in safety deposit boxes, doomsday preppers hoard food & guns....

LTC will be no different if it gains popularity.

what the problem? What exactly dont you like about me?

LTC is a BTC clone with a different hashing algorithm, it is like btc.

This said, cashing out? Do you mean cashing out dollars or euros to get bitcoin, am i right? Because no way i'll sell BTC, at most i use them to buy things  ;)

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAAAAAAAAAA

go and keep the cash

let me point out some things to you:

- i find your lack of faith disturbing
- one does not simply cash out of bitcoin
- at the moment I am waiting for the ohsomighty eagle gobermint to ask for forgiveness
- i sall not grant it
- continue to use their monopoly credit money to buy real estate and let people pay it off with rent
- save for retirement in a really hard currency - the bitcoin

you are welcome

Never.

(sublime, I see you're making friends everywhere...)

(ps. Gweedo is a notorious angry troll.  Not sure why...)

Really? you are kidding right? Ya bitcoins are dividable but what the @#$5 does that matter if people hold all the coins do you see how many say I will sell when btc is 4k a coin. @ that guy Screw you buddy i hope it goes to zero. I will be laughing my ass off. If everyone just holds coins this thing will not work.

People will only serve me if there is something in it for them.

You're right: it's not rocket science.  But in this case, it's opinion (overvalued/undervalued) stated as fact, with disrespect shown toward anyone who disagrees with you.

Man, sublime is one butt hurt guy.

Define greed? I'm holding BTC because fiat is trash and I've already missed the PM train. I won't sell it because I'm my own bank now. It's almost like I'm using Bitcoin the way it was designed to be used.

cashing out now $_$

:D

I am notoriously an angry troll? Pretty sure I am not angry LOL but you are all over me dude, if anyone is angry it is you...

I understand that fiat is trash I dont hold it either speculate in silver and gold let the currency be bitcoin or any other digital currency. I am in it to defund the government and crush the banks that enslave people with debt. If you cant get them and price is always volatile they wont use it and a new market will pop up. The idea is out it is just a matter of who is going to make it work for everyone.  

@ BCB People either love me or they hate me I make friends and enemies everywhere I go.

That's your prerogative. But remember, faith in an idea doesn't preclude skepticism about its prototyped implementation.

Isn't that a problem?

I mean, sure, you can make arguments that on the fundamentals BTC is a better currency than FRNs. But right now FRNs have better purchase utility, so the fact that it's hard to exchange BTC for fiat... doesn't that hamper BTC's usefulness?

Unless this was just a throwaway line about how BTC is so cool that you should never want to cash out.

Converting btc with fiat is hard, that's true and is exactly why we need BTC, because it will finally allow us to buy something in an easy way. If buying or selling BTC was easy, then well, we would not even need it!

Haha, THANK YOU. Saving this one.

+1

Relevant:

http://i.qkme.me/3swc36.jpg

can you guess which one? :D




i only cash out when i feel forced to like if i'm low on $

2 months back I was sooooo close to have to cash out I borrowed from my bank instead. Thank god.

Is that an official number, or an estimate from the blockchain?

Wow, can you imagine being the guy who sold this website?  How hard do you hit yourself on the head? (though I believe he did it because he didn't want legal issues in his life, which is a legit reason to me)

Makes more than mtgox with almost no overhead.

Something tells me he's okay with the outcome ;)

Didn't you buy it from somebody else (in a more basic look)?  I am assuming you are still a majority shareholder (not that it is any of my business).

So its an estimate from the blockchain. At this point, those profits are as real as pirateat40 profits. Notice how SDICE is not confirming or reporting official numbers. They are just letting people run wild with their own imaginations so they can sell more "shares"...



Doesn't sound very realistic does it? More revenues from people willing to risk all-or-nothing dice, or from people trading day after day on mtgox? I don't think so

The free market is regulated..... by the members of the market. I want a new, stable, market regulated currency. Bitcoin can be forgotten just as fast as it was spawned. If people cant use it it has no value what so ever, if a better coin comes along bitcoin will just be a memory. You guys cant see the forest for the bitcoins IMO.

Yet again I find myself agreeing with you...



But you can't have it.

People already use it.  And a growing market cap will lead to gradually smaller volatility, which will increase the possible uses for bitcoins. 

True, which is why bitcoin is currently trading at a very significant risk premium below its potential.

Your theory is that SatoshiDICE is playing itself in order to generate fake profits and sell more shares?

I can't really see any way to discount said theory.... anyone else?

Why? You watch the blockchain and perform addition and subtraction. This is public and not "estimation".
S.DICE P&L statement.  (http://"https://docs.google.com/spreadsheet/ccc?key=0Aiec3-Eo_yO5dHB2dVdiaEltUHAtTWlBcFhXQVBYeGc#gid=0")
Third party analysis (http://"https://bitcointalk.org/index.php?topic=80312.840")

Yeah you cashed out alright you sold 15% of your company, got all of your original investment back, and offloaded all of the risk onto the buyers of the floated equity while keeping a tidy revenue stream for yourself. Smart move!

But seriously, I don't plan on cashing out my Bitcoins until I have no gold, fiat savings, or salary left, and I need to buy essentials.

For starters, SatoshiDICE could make an official statement about their profits. These estimates are nothing more than rumors running wild.

To discount the theory, MPOE (or whoever runs the stock exchange) could do an official audit, correctly using the blockchain (eg, mark a cluster of addresses as their proven reserves for payouts, so we know they aren't spinning their reserves to simulate players). Transparency (and common sense) is the best tool to combat fraud. What do you think it is that gives us trust in bitcoin? Its the transparency of the system, not some bullshit chart going skyhigh.



Is that google docs spreadsheet an official statement? Who released it?

+1 THIS

very nice tought :)

May I disagree with the bold part.. IMHO greed is a distortioned value, before the years 1900, most poeples where not greedy at all.  Gives everyone what they need to survive and be happy, (nice food, quality shelter, toys, leisure), greedy suddently become useless and more a burden than anything else.
Greed is a by-product of a capitalist oriented society !

Sorry for this "may seems" excessive tought ;)

Greed is doing things in your own interest. In humans the only way to keep your genetic markup in the gene pool is by surviving an procreating therefore humans are inclined to do things which:

1) Increases their chance to survive
2) Increases their chance to procreate
3) Increases the chance of their descendants (the closer the better, so preferably children)  to survive
4) Increases the chance of their descendants (the closer the better, so preferably children)  to procreate
5) Same thing for other non-descendant family

This is what I define as greed. Gordon Gecko agrees ;)

Greed is good...

I had to slip that line in


But on a serious note, ever since human existence there was greed. It is competition of who is the best. Look at human history how many times a person screwed over another person just to be the best. A lot of that times is in monetary value so you can see greed is what drives us most the time.

They would need to actually send the 'fake' profits to the real owners of the shares so it seems like a terrible plan. Now if they didn't have other investors then making 'fake' wagers for publicity would be possible.

Procreation of the most greedy, or "survival of the fittest", is a myth perpetuated by sociopaths who don't understand evolution. On both a biological level and a societal level, the rule of thumb is "survival of the most cooperative." Mutual aid and benefit is the only way organisms thrive in an environment. It starves and goes extinct if it eats the last bit of its food source, so for long-term success it must act in a way that is mutually beneficial to its food source.

Same with humans; acting greedy might be advantageous in the very short-term, but to thrive long-term requires acting in cooperative ways that are mutually beneficial to the social environment. If not, you'll be a societal outcast and have nobody to trade with, and you'll starve if you aren't jailed/killed.

I just dont get why SD is so popular. It seems like its  a game targeted at assburgers since you dont need to have any interaction with other people so its completely sanitised. But then I cant stand poker machines either.

First off, to my knowledge so far they haven't sent any profits to any shareholders. And secondly, if they do start paying dividends, they could just be paying them from the principal/IPO cost of the shares. Then its in their interest to keep doing so, as long they issue and sell more shares.

The SatoshiDice operator(s) can use the house funds to simulate players and revenue, obviously at no risk. Whether there are investors or not has no effect on the possibility of inflating players and revenue by simply generating a bunch of transactions to the SatoshiDice addresses. However, if they are raising funds from investors or trying to sell the business (and they are), then to inflate revenues is clearly in seller's best short-term greedy interest. They don't care about the long-term viability because they're selling their stake.

I do small cash outs occasionally but overall I'm in the camp of "never cashing out". Bitcoins are my primary long term savings and I plan on using them directly for goods and services as needed.

Obviously if something extremely negative happens my outlook could change entirely but as it stands I'm certainly in it for the long haul.

I'm afraid to have to inform you that says more about your failure to do even the most basic fact checking than it does about what is going on with S.DICE

Again, one of the beauties of this business model with Bitcoin is that it is largely transparent.  The statistical analysis that is done on a daily basis by someone independent of evoorhees (and can be checked by anyone with the the requisite understandably of how it works) gives us figures that tell us what the monthly profit is.  From that it can be calculated approximately what the dividend will be.  So if the dividend is paid and it is what is expected I'm failing to see the potential you're claiming for skulduggery.

On the 'insider playing' point, technically you may have a point in that somebody with an interest in inflating the value of the business could be playing the game all the time and getting the losses back as part of their dividend.  However this is more likely to have been the case before any shares were made public.  The higher the proportion of existing stock is owned publicly, the higher the proportion of the profits made from 'insider playing' that doesn't go back to the player.  I'm not saying it's not possible but it is getting less likely.  Also, if the purpose of this whole underhand exercise was to maximise the demand for and the price of the stock why on earth would the Monday tranche of stocks have been put on the market without announcement at ~60% of what they were trading for at the time?

Please by all means keep up with the scepticism. I guess we're all vulnerable to some degree of getting carried away with excitement, confidence and trust to our own detriment so it is healthy for us all that some here are airing their doubts.  However you'd come over as more credible and be of better service to the rest of us if you'd do some fact checking and research first.

Edit:  Apologies all for being off-topic but bitcoinBull has been raising this point on a number of threads and I thought should be put right on the most blatantly incorrect aspects (so the casual reader is not misinformed).  Maybe bitcoinBull and EskimoBob should start their own thread to put forward the theory that SD is a scam.  Their intentions may be good but bringing the same points up repetitively in different threads I'm afraid makes it come across (to me at least) as conspiracy-theory FUD.

Good luck with that :)  I admire your confidence.  

I'm following the advice given me by a long-time pro trader when he said 'never trade into a falling market'.  In common with many who have commented on this thread, I've switched paradigms and am not looking at my Bitcoin holding from a fiat investment perspective but looking at it as the currency with which I hope over time to be doing more and more of my daily dealings.

Therefore, from a long-term Bitcoin optimist perspective, it's the falling fiat market I'd be trading - which is too risky for me :)

They have paid thousands BTC for dividend: http://mpex.co/?mpsic=S.DICE

Maybe it's just a pump-and-dump trick. Not only the players are fake, they also pretend to be investors. They may just buy 90% of their IPO so the actual dividend they paid is minimal. By pumping the profits, they can sell their shares with very high premium. When they have sold most of their shares, those fake players will disappear.

Procreation of the most greedy, or "survival of the fittest", is a myth perpetuated by sociopaths who don't understand evolution. On both a biological level and a societal level, the rule of thumb is "survival of the most cooperative." Mutual aid and benefit is the only way organisms thrive in an environment. It starves and goes extinct if it eats the last bit of its food source, so for long-term success it must act in a way that is mutually beneficial to its food source.

Same with humans; acting greedy might be advantageous in the very short-term, but to thrive long-term requires acting in cooperative ways that are mutually beneficial to the social environment. If not, you'll be a societal outcast and have nobody to trade with, and you'll starve if you aren't jailed/killed.

"the rule of thumb is "survival of the most cooperative." Mutual aid and benefit is the only way organisms thrive in an environment." This is what the greedy bitcoin community needs to learn. Selfishness is a virtue if you realize that helping other people is a act of selfishness. If the quality of life of your neighbor is better your quality of life will be better. Markets reward the individuals that do the most good for other people and punish the greedy and selfish. If you think you are going to game the system and hoard the coins and make millions you are a fool the market will punish you. 

Fittest means those most adapted to ensure offspring survival.  This can aided by cooperation, greed, intelligence, stupidity, physical strength or whatever, it all depends on the local environment at that point in time.



I'll admit I am a greedy pig that wants to get rich easy.  Honestly, who doesn't?  
But bitcoin in itself is a system which I value greatly principally as well.  What problem do you see with a decentralised open-source, non-inflatable-to-oblivion kind of currency?
Also, peoples opinion on who does good and who is selfish varies greatly.  Some would say the person who has a large company is a selfish fat-cat that profits on the labor of his workers, others believe he created the framework to employ a lot of people and provide valuable services to the community...  While I am personally inclined to the second opinion, I suppose the real answer is somewhere in between, but relies mostly on the details of each particular case.

Mark my words holiday you will lose it all. Why should you not hold bitcoins? because there are no barriers to entry, it can be done better, it is volatile. The wealth isnt the bitcoin. Bitcoin will not just go forever. You dont create wealth by holding bitcoins you create wealth when you sell btc and buy something real.
The money is an illusion the wealth is real, an investment is not an investment if it doesn't make you wealth. 

What is stopping you?  Clearly you can make a lot of money by being an early adopter of a currency?
Or if money does not interest you, think about how you will save all future bitcoin users from this horrible bitcoin experiment.

It is hard to tell you what asset class to get into. In a fiat debt based monetary system it is difficult to find undervalued assets. I would recommend 10% silver 20% cash 40% real estate 30% digital currency. I believe that the world is going to enter into a huge deflationary collapse in the next decade. You should have a strategy of preserving wealth. I would not be 100% invested in btc! and I would not buy now. (22.37)     

In classical economics this statement about wealth is true, but today supply and demand is the only measurement of value

There are many illusions in today's world: An iphone, an HDTV, a movie... They did not really bring you anything physically but you feel happy looking and playing with them, it is the happiness level affect the demand of an illusion. Wealth does not only contain physical things, psychologic demand could also create wealth

FED created an illusion called USD, and US government sell bonds to FED to get USD, bankers sell their loans to FED to get USD... an illusion works as long as some one want it

People want BTC, at least it can give them confident to fight inflation

Please guys, you give me creeps. Not even one has yet pointed out that "greed" originally does not mean you want to get ahead with your *own* life!

"Greed" is that you want an unfair, unjust, unlawful, fraudulent, or coerced gain from *others*. So that they are worse off.

Doing or not doing something with your own, can never be greed. Hoarding is not greed. Envying somebody's hoard is greed.

thank you for actually taking my statements serious. I agree with you on the need for skepticism. I continues to be among the best tools in the box. With it goes observation, experimentation, attitude and the self fulfilling prophecy.

The assumption of "cashing out" is that you would be done with bitcoin.
                                             =    
Really what happens is  "recieving reward for distribution"!

You are describing consumption, which is actually the opposite of wealth creation.

In truth, you create wealth when you acquire bitcoin.  And if you hold them, you are abstaining from consuming that wealth, which makes all of us wealthier.  So, go on and "hoard" guys!

Thanks for the link.



I see now that the most recent dividend payment was on Feb 1st and 2nd. I see that the IPO back in August 2012 was 10M out of 100M shares, but I'm not seeing a list of share issues / tranches since then. Is there a list of quantities issued since?

I see your point about fact checking. I wish I could put in enough time to read thread-upon-thread to locate quality info about SatoshiDice more recent than August 2012. In the past, I did have time to browse threads collecting info on the big scams going around (pirateat40) and warn others to the best of my ability. But nobody pays me to do Due Diligence on likely scams, so I appreciate direct links to quality info. Its reassuring both to myself and others who are rightly skeptical.



Like I already said, of course anyone can check the math on the volume of coins which pass through the satoshidice addresses. But it would be quite a bit harder to verify those coins are genuine players and not house funds being spun through.


If they're playing with house funds, any losses go back directly to the house, not through dividends. But you are right that fraud is less likely the longer that dividends are being paid (unless new capital is being raised, which makes fraud more likely).




The purpose is maximum gain for the issuer, at whatever price they can sell shares. The price of the stock is only important to the buyers hopeful to resell for gains later.

Question: is that ~60% price less than stated here: "All future share issuance will be made only a) subject to approval by MPEx and b) at a price no less than the higher of the 1 day average price and the 30 day average price then current on MPEx." 2.2. The Terms of the IPO. section a (http://mpex.co/?mpsic=S.DICE)



I'm also sorry to hijack the thread. I didn't start my own thread for exactly what you mention, that I would prefer to have quality research and fact checking. But that's a huge time sink when most of the info is scattered among various forum threads (another red flag in itself). As for FUD, I don't consider myself a conspiracy-minded individual. You don't see me all over the BFL threads accusing them of fraud (enough BFL doubters already). I called out pirate (and as many of his associates as I had time for) not because of "sour grapes" nor because I get kicks from conspiracy-trolling. I called them out because I was rightly skeptical.

You are right that some SD skeptic (just myself and EskimoBob, anyone else?) should start a consolidated thread. That somebody hasn't already goes to show the gullibility (or willing-to-believe) of many "investors" in bitcoin "Securities".

+1

When trading:

I only buy panic
I usually sell euphoria

That's it. But I don't trade bitcoins. I'm not in BTC to "cash out". I'm in it because I believe in it. Because it's a clever and sound currency. I don't want to exchange my BTC for fiat, I want to exchange my BTC for goods and services.

But seriously: what can we buy with BTC, apart from drugs on SR? I'm not a blogger, I don't need web hosting at the moment. This is something we need to address ASAP.

You actually can buy almost anything these days. What are you looking to buy?

Electronics: http://www.bitcoinstore.com (500 000 products and good prices)

Precious metals: http://www.coinabul.com/

Mobile phone credit: http://www.bitcoinwireless.com/

Coffee: http://bitcoincoffee.com/ & http://bitbrew.net/

Chocolate: http://bitchocolate.com/

Jewelry: http://allthingsluxury.biz/ (I've used this store myself so I can recommend it personally)

These are just a few examples, I'm not going to list everything. With the exception of physical grocery stores, there is actually not that much that you can't buy with bitcoins already.

Yes, but I can buy these things locally with fiat or credit card, at a lower price

In that case you can simply exchange your bitcoins to fiat, which is getting easier every day. Or use a Bitcurex Electron card which works quite well afaik. In the future one can probably use a BitInstant debit card as well.

Many of the products in Bitcoin Store can't be bought cheaper anywhere. I don't buy the "stuff bought with bitcoins are expensive" argument at all, not anymore at least.

Although I'm from Finland which is not one of the cheapest countries in the world, on the contrary. That perspective might affect my views.

BTC will be used as a saving target. Suppose each IT generation people knows about BTC and put some of their savings in BTC, they are at least 100 million, even average saving is only $1000, that is $4762 per BTC. Since most of the coins are hoarded, the actual price will be much higher, so it is not very difficult to reach a market price of $50000 per coin, if more people join, that price will be even higher

Of course this is a long term projection and there are many potential risks in BTC itself, currently the biggest uncertainty comes from the block chain's transaction limit

Hoarding = spending. Just delayed in time.

Looks like you only know one way to spend money. When I spend money most of the time I am not consuming, I am investing, Holding bitcoins does not create wealth it doesn't create a thing when you acquire btc. . When I invest in my business that creates wealth. When you hold bitcoins you create nothing! Really a poor post here I am guessing this is sarcasm.

sell them all every chance I get

I'm not going to "Cash out". There will just come a time where it makes as much sense to spend them as acquire them.

Im definitely more of a hoarder than seller, more times than not I would rather have BTC since its been proving to be better than actually having money,

i think like most I follow suit where I just buy things either directly with bitcoin or sell when I want to buy something with paper cash, cant see how people view bitcoin negatively especially in the past year

my only guess is that they are sad they didnt get in sooner!

If you are in a position where bitcoins are too valuable for you to spend you are making or have made some bad mistake.

Decide what % you want in bitcoins, wait, sell bitcoins to get back to that %.

If you get stupidly rich you aren't going to keep living like you were forever.

Your statement is to definite for my liking, your saying No one has gotten stupidly rich and has lived like that for an extended period of time because of 1 monumental good decision that set them for life? the hardest is to get to the top i dont think staying there is the difficult part as long as your a level headed human being and make conscious well thought out decisions, others might say the opposite but this is just my view,

maybe your trading style is half here half there, but some not saying myself, like to trade and have everything on the line because they are confident in their decision making and they stand to make the most potential gain, not saying smart at all since having everything on the line is retarded if it doesnt work out but there are those who have had it all on the line, things work their way, and are SUPER RICH because of it

Edit:
i think i misunderstood the last part I thought you meant if you get rich to quickly you wont stay like that forever but your saying when you get rich you wont live like you did before which I can agree with,

if people followed this advice last month they would have missed out on huge gains

I'm selling when I see a relatively large price drop hopefully just before the crash.

You and everyone else ;)

That's what I do, but the herd will stampede.

Into fiat? Never, aside from day-to-day for things I can't get with btc.
That said, if/when a .gov tries to destroy it I'll probably be holding something else for a while, whether it be paper, metal, or otherwise.

Looks like somebody has been cashing out (see the last two steep spikes):

https://i.imgur.com/pQoK8Aa.png

Sure, but in case one only has BTC on exchanges, one can better seel at the beginning of the drop and buy back at the bottom. Of course, if you can get USD/EUR to your exchange quick enough or are prepared you can hold and buy.

Just make sure your trigger price is valid or you will end up chasing the train.  I had 1000 btc when we passed $2 the first time and quite a bit less the second time.  Shorting in this market can be a bitch.

Mh...What would you do with 40k bitcoins? I would be definetely cash out some of them to gold/silver.
Anyway, Eric, should you hit the bid on your 40.000BTC today, you would drive the BTCUSD to 20 single handed.

never but i may silver out some day.

I do hoard because the amounts of bitcoins I own is not that big.  Were I to sell my bitcoins into euros, I would have no idea about what to do with this money.  I already have stock holdings and I'm not confindent enough about that to increase my positions there.

I can sell a few bitcoins from times to times to buy stuff.  But the most of it, the only reason I could imagine to sell it would be if the selling could allow me to afford buying real estate or something.

Otherwise, there is no way I stop hoarding bitcoins and start hoarding fiat instead.   I don't know what so hard to understand.

In a nutshell, can someone tell me why hoarding bitcoins is bad, while selling them so I can hoard euros would be good??

If hoarding is bad, it should not matter in which currency it is done.

Daytraded/swingtraded until the recovery from the mini crash...cashed out completely and staying in USD until the big one brings us down to reasonable prices.

Nothing lasts forever. Thats is why I am continually trying to turn a profit on my btc.. selling out buying in.. every day..
Trying to squeeze the most profits possible.

I sell a real life product for btc, I inturn buy another product with those btc, sell it for cash, using that cash to buy more bitcoins, and reinvest those with my other bitcoins, to buy again, and sell for cash... Is this the most profitable way to go about this ?
one thing is for sure, my capital is gaining every month. Ive never had so much money and btc to play with..

I don't cash out, i use it to buy services and goods and rebuy my btc to replace the old ones...
How about we start using it as currency to change our current financial system and not use it as pump and dump and leave everybody hanging in the end.

Ouch.

yeah he sucked :)

That's not in ten years.

Not below 10k

Cashed out 1/6 of the wallet when China news was announced... USD987 / BTC
Oh, i regret this now... i panicked. :(

Since I'm sitting at a little over 5btc (yeah I sold earlier to buy some guns and other crap), and when btc is approx $2000 ea I will buy a couple gold bars from amagimetals, and then will hold the rest until they're worth a little over $10k each so I can buy a sailboat I've had my eyes on for a while. :)   Well by then the sailboat might be $50k or $60k, so I'll have to adjust my buyout price so I can buy that.  I might try to hold off a little longer so I can afford a marina slip to store it so I don't have to trailer it all the time :)

4 coins was all I could afford back in March, they cost me £330 in total, I'll probably sell 0.4btc or so to cover my initial outlay, and keep the rest, If we get to $5k I might sell one, $10k maybe another, which should leave about 1.5BTC to keep until we get to $1,000,000  :D

I'll start at $100K.

I'll be too busy walking in the sky with Jesus to worry about bitcoins anymore.  Besides, who needs bitcoins when the streets are paved with gold?

Hello, I am new! (been lurking for months though)

I panicked during the Silk Road closedown crash and tried to sell bitcoins i'd bought for ~£100 a piece for $110 a piece. I was chucking in the towel. The bitcoin dream was over for me. I was prepared to take a tiny profit and run.

Fortunately the guy on localbitcoins.com I chose to buy my coins sent me an e-mail saying he hadn't got the funds. During this time the price dropped under $100 so i decided to bite the bullet and hold.

I'm kind of glad I did now :)

I will never cash out all Bitcoins if you mean this, I fear I would have rebuy much higher later

Re: When are you going to cash out?
Is like - When are you going to spend all your savings?

In Bitcoin you are your own bank.

I already cashed out of fiat. Got rid of all my USD and EUR just in time! :)

I will sell over half of my coins when I buy something expensive, like car with my BTC. So far only spend for some cheap electronic and rebought BTC later at dips

I'm cashing out my FIAT every month to get Bitcoin : a true currency.

I dont want to 'cash out', i'd rather fiat currency crashed and burned and Bitcoin became the new 'norm'

There should be a "never" option. That is the option I have chosen.
To me the question is like saying "When will you Germans cash out your Euros for US dollars?"

Cash out now: Why?

After the china news: there will be blood!
At least 50% drop (over time) and there won't be new money from china to keep the bitcoin price at these levels.

If the price goes down slowly (and it will), you have enought time to buy back after settling for a few weeks.
If the price goes up, you can buy back without a loss -> loss in BTC count yes, but no loss in fiat. You just missed 5-10% profit!

So what do you choose? Small chance of losing 5-10% profit and a big chance to double your bitcoin wallets or:

Great risk to lose and small chance to gain? But it's up to you. I wouldn't advise to sell all, but 50-80% is a good amount. Better safe then sorry.

The value of fiat diminishes and bitcoins value grows. So in the long run a bitcoin loss is more substantial that a fiat loss.

If bitcoin value grows  ;)
It's just plain and simple risk management.

Of course you can tell everybody bitcoin will reach 1 Million USD per Coin and selling is allways stupid -> but to sustain such levels we need much more users and money! We got rid of all chinese buyers! That's really bad!

Selling all your coins is really stupid risk management.

I´m incredible happy i did this.... because if i didn´t i would have panicked (weak nerves) and sold everything in this crash... USD987 isn´t that bad... i consider my investment in BTC "free" now ^_^