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Title: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 01:43:16 PM So I have been seeing a lot of negative talk from bitter people who sold early on. So I posted this on another thread:
Now that's the kind of sentiment that prevails right before the bubble bursts. Every time. Guess what? People been saying this since like, $15. Deal with it. Sounds like you have paid the 'stupidity tax' not me. If Bitcoin dropped 96% today I'd be at breakeven and Litecoin has to drop 99.5% ;D History will be written like this: First there was the Internet which gave people the freedom to share knowledge, then Google organized the internet so others could quickly find it, then Facebook connected people on an daily basis within their entire social network and finally Bitcoin freed people financially from the rule of corrupt banksters! I can see the future 60 minutes/ Dateline interview title. "Alarming suicide rate amongst early adopters of Bitcoin that sold too early." I am seeing a lot of negative "you are all stupid" for not selling posts. Obviously people are bitter that they sold too early. Do yourself a favor and buy back in while you still can!!! ..... ok I am done venting now :) Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: tutkarz on April 09, 2013, 01:52:36 PM the price will probably drop a little when there will be valid reason for this. I dont understand why price should drop without reason and only because some panic people *think* that it should do this already. It seems that alot of them have too weak imagination to understand how many money is on the market and how little amount of bitcoin is comparing to that. Bitcoin price is supposed to be very high by design.
Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: crazy_rabbit on April 09, 2013, 01:56:27 PM please, please, please, someone slow the train down!
Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: humanitee on April 09, 2013, 01:58:18 PM Not selling, not nervous either. The amount of fiat flowing into this beast is staggering.
Just keep using some portion of your coin, you'll be safer due to enhancing the economy. Gonna buy at least another 1, gotta buy a router. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 01:59:02 PM please, please, please, someone slow the train down! Lol! Ever heard "Crazy Train" by Ozzy Osbourne? Is that how you are feeling right now? lol!"All aboard!!!" http://www.youtube.com/watch?v=otdHbA4GlSI Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: sgbett on April 09, 2013, 02:02:52 PM When it reaches a $1million per coin, I will have lost 100's of millions in potential profits. suicide worthy?
Well, I think the tens of millions worth of BTC that I will still have will soothe the pain, as well as the millions that I took out on the way there... What if it goes to $999,999 then fails catastrophically? What's your exit strategy? At that point I'll be millions richer. Do you even know what risk is? Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Shermo on April 09, 2013, 02:03:31 PM Gotta admit I wish it would slow down a little as its freeking me out, I invested with the hopes of making a nice 10-20 % on my savings over the next year... since then it's gone up nearly 100% which is nice, but not if it hits rock bottom later!
Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 02:05:37 PM Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: tutkarz on April 09, 2013, 02:08:58 PM Gotta admit I wish it would slow down a little as its freeking me out, I invested with the hopes of making a nice 10-20 % on my savings over the next year... since then it's gone up nearly 100% which is nice, but not if it hits rock bottom later! When people understand bitcoin by its very nature is supposed to be expensive, because we will be using satoshis and not full bitcoin later? And if somebody want to enter the train then they would have to do this quick because it is very fast moving. This doesnt mean it will crash. That is why im really supriced people are selling that cheap as $100 or now $200. They will regret this. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 02:12:13 PM When it reaches a $1million per coin, I will have lost 100's of millions in potential profits. suicide worthy? Well, I think the tens of millions worth of BTC that I will still have will soothe the pain, as well as the millions that I took out on the way there... What if it goes to $999,999 then fails catastrophically? What's your exit strategy? At that point I'll be millions richer. Do you even know what risk is? If it hits $999,999 I will have cashed a few out by then. :) lol! Yes I went all in and I realize I could lose it all. But I did not go into debt to buy BTC nor would I be completely broke at this point if it went to $0 (new contracts). And as far as risk goes, in my opinion the only true "security" and absolute "risk management" plan you will ever achieve is when your "6 ft' under and horizontal." Life is to short not to take some chances. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: ruski on April 09, 2013, 02:15:06 PM Life is to short not to take some chances. Amen. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Rygon on April 09, 2013, 02:36:16 PM No one ever went broke taking profits. ;D
Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Zangelbert Bingledack on April 09, 2013, 02:38:28 PM Holding but will be nervous if we go toward $1000 and will diversify a small percent of BTC.
Everyone should have a diversification plan. When you reach $1 million net worth, will you really keep ALL your money in BTC? Think about what percent you will diversify out on the way up, based on the famous Bitcoin assymetric bet (Hudreds of thousands of dollars per coin or more vs. $0). For example, taking out 20% of your BTC at each order of magnitude increase and putting them into other assets might make sense. Example: You invested $10,000. When you reach $100,000 you sell $20,000 worth and keep the rest. When the rest reaches $1,000,000 you sell $200,000 and keep the rest. Etc. Seems well balanced given the risks, and you will still be filthy rich if Bitcoin succeeds. For some people 10% will make sense, for some 5%, and for some 30-50% might even make sense (such as anon_bitcoin_gambler on reddit). Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 02:40:57 PM Holding but will be nervous if we go toward $1000 and will diversify a small percent of BTC. And you trust central banks not to confiscate your money either through direct acquisition or through "quantitative easing"??Everyone should have a diversification plan. When you reach $1 million net worth, will you really keep ALL your money in BTC? Think about what percent you will diversify out on the way up, based on the famous Bitcoin assymetric bet (Hudreds of thousands of dollars per coin or more vs. $0). For example, taking out 20% of your BTC at each order of magnitude increase and putting them into other assets might make sense. Example: You invested $10,000. When you reach $100,000 you sell $20,000 worth and keep the rest. When the rest reaches $1,000,000 you sell $200,000 and keep the rest. Etc. Seems well balanced given the risks, and you will still be filthy rich if Bitcoin succeeds. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: zoolander on April 09, 2013, 02:46:18 PM History will be written like this: First there was the Internet which gave people the freedom to share knowledge, then Google organized the internet so others could quickly find it, then Facebook connected people on an daily basis within their entire social network and finally Bitcoin freed people financially from the rule of corrupt banksters! Google was not the first search engine. Facebook was not the first social network. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Comodore on April 09, 2013, 02:48:58 PM please, please, please, someone slow the train down! IŽd like to slow your internet(s) :P Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: sgbett on April 09, 2013, 02:49:19 PM What is the difference between being worth $1m and deciding to invest it all in BTC, and having a $1m of BTC and no other assets.
Would you tell somebody worth $1m to invest it all in BTC? If so "I have business proposition for you ..." ;D Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Zangelbert Bingledack on April 09, 2013, 02:50:10 PM Who said anything about banks? Gold, silver, oil, food, land, businesses, or whatever. It's simple: Bitcoin has a substantial chance of going to $0. You can very easily arrange other assets so that they do not have a substantial chance of falling very much at all. Even dollars in a wobbly bank + BTC, which is just about the worst possible diversification strategy, is nevertheless much safer than only BTC.
Diversification doesn't make you money, but it does help lock in your newfound wealth. This shouldn't be controversial as it's merely basic statistics that if you have $10 million and spread the risk around it reduces the chance you will ever not be a millionaire anymore. To me the value of being a millionaire is not that much less than being a billionaire. I'd much rather be a millionaire than have to wonder whether I will be a billionaire *OR* have to return to a normal middle-class existence. YMMV, and your diversification strategy should vary accordingly. Let's not get all ridiculous here. Besides, if Bitcoin succeeds in reaching full mainstream adoption you can probably still be a billionaire even if you diversify on the way up. If you really believe in the potential, one bitcoin should be enough to ensure a lavish lifestyle in the scenario where Bitcoin succeeds. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 02:50:27 PM History will be written like this: First there was the Internet which gave people the freedom to share knowledge, then Google organized the internet so others could quickly find it, then Facebook connected people on an daily basis within their entire social network and finally Bitcoin freed people financially from the rule of corrupt banksters! Google was not the first search engine. Facebook was not the first social network. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 02:51:31 PM What is the difference between being worth $1m and deciding to invest it all in BTC, and having a $1m of BTC and no other assets. lol! Name another investment that has performed as well as BTC in the past three months? So yes, yes I would! ::)Would you tell somebody worth $1m to invest it all in BTC? If so "I have business proposition for you ..." ;D Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 02:55:40 PM Who said anything about banks? Gold, silver, oil, food, land, businesses, or whatever. It's simple: Bitcoin has a substantial chance of going to $0. You can very easily arrange other assets so that they do not have a substantial chance of falling very much at all. Even dollars in a wobbly bank + BTC, which is just about the worst possible diversification strategy, is nevertheless much safer than only BTC. Ok ok. I will cash some out at $1000.00 and buy myself a brand new Ford Raptor pickup, a couple more AR-15s, a shit load more ammo and that AR-50 I have been looking at for awhile. Yes I am a redneck that was raised on a farm & ranch in the middle of no where. lolDiversification doesn't make you money, but it does help lock in your newfound wealth. This shouldn't be controversial as it's merely basic statistics that if you have $10 million and spread the risk around it reduces the chance you will ever not be a millionaire anymore. To me the value of being a multi-millionaire is not that much less than being a multi-billionaire. YMMV. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: zoolander on April 09, 2013, 02:58:27 PM History will be written like this: First there was the Internet which gave people the freedom to share knowledge, then Google organized the internet so others could quickly find it, then Facebook connected people on an daily basis within their entire social network and finally Bitcoin freed people financially from the rule of corrupt banksters! Google was not the first search engine. Facebook was not the first social network. If Bitcoin is the Facebook of crypto currency, then who was the Myspace or the Friendster? Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: tutkarz on April 09, 2013, 03:01:14 PM What is the difference between being worth $1m and deciding to invest it all in BTC, and having a $1m of BTC and no other assets. lol! Name another investment that has performed as well as BTC in the past three months? So yes, yes I would! ::)Would you tell somebody worth $1m to invest it all in BTC? If so "I have business proposition for you ..." ;D I dont understand it either. Why to change good currency for bad one? I would do it only to buy something i currently need. And i would advise to not fear about moving bitcoin back stright to 0. If you think about it anything can crash that way but does it have to? Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Zangelbert Bingledack on April 09, 2013, 03:03:16 PM Who said anything about banks? Gold, silver, oil, food, land, businesses, or whatever. It's simple: Bitcoin has a substantial chance of going to $0. You can very easily arrange other assets so that they do not have a substantial chance of falling very much at all. Even dollars in a wobbly bank + BTC, which is just about the worst possible diversification strategy, is nevertheless much safer than only BTC. Ok ok. I will cash some out at $1000.00 and buy myself a brand new Ford Raptor pickup, a couple more AR-15s, a shit load more ammo and that AR-50 I have been looking at for awhile. Yes I am a redneck that was raised on a farm & ranch in the middle of no where. lolDiversification doesn't make you money, but it does help lock in your newfound wealth. This shouldn't be controversial as it's merely basic statistics that if you have $10 million and spread the risk around it reduces the chance you will ever not be a millionaire anymore. To me the value of being a multi-millionaire is not that much less than being a multi-billionaire. YMMV. Yeah might as well, right? Go hog wild while still knowing you'll have a secure nest egg waiting for you on the other side of the Bitcoin singularity, whatever happens. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: evolve on April 09, 2013, 04:53:22 PM Where is the option for buying and selling constantly?
Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 04:56:25 PM Where is the option for buying and selling constantly? "I like to sell high and buy back higher! :)" Option added lolTitle: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: chiropteran on April 09, 2013, 05:05:32 PM It doesn't make any sense to pick a single value and cash out at that value. None. No sense at all.
That said, when value nears or crosses $1000 USD per bitcoin, I will probably sell 3-5% of my holdings. Again at $5k, and $25k, $100k, $500k, etc. Eventually though it may get to the point where NOBODY cashes out, because BTC is the standard currency of the world, and you just use it directly. I imagine a comical situation in 5-10 years in which someone finally sells out his 50 BTC at $1 billion each and is overjoyed at being a multi-billionaire, just before he realizes that USD is now worthless and his $50 billion isn't even enough to buy a hamburger. Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Frost on April 09, 2013, 06:01:37 PM I like this Poll. I am nosy what the mass will answer.
Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: BitcoinTate on April 09, 2013, 09:33:14 PM Damn... we might just hit $300 by tomorrow. There is just no resistance. My grandma just called me and now she wants to buy some BTC! lol
Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Ekaros on April 09, 2013, 11:21:54 PM So where is option for us who don't have almost any bitcoins(0.00012159 for me :( ).
"I'm just here to 'troll' you!" At 1M that will get me one or two nice dinners ;D Title: Re: Poll: At what price does the rapid rise make you nervous/sell in the next month? Post by: Elwar on April 09, 2013, 11:24:53 PM No option for buying dollars with 1 bitcoin at $160,000 to pay off my mortgage.
The rest is my currency, why would I get rid of it? |
