Bitcoin Forum

Starting a thread for future reference!

Share your experiences here if you feel inclined to do so.

Didn't sell, won't sell. Didn't buy, will buy.

+ 1

Bought 3 for £13.30 each on Feb 1st 2013. Could have sold at the top for £175 each.
Didn't sell, wont sell. Didnt buy, wont buy unless >£25 .

In for the long run and not out to speculate on the peaks and troughs (although I do speculate between LTC and BTC).

When we passed $75 for the first time, I was expecting a correction down to ~$50, so I sold a few coins.  When we bounced off of $260, I sold a few more for $250.  The total between the two was about 10% of my holdings at the time (after paying for some Avalons).

I have a standing buy order between $50 and $60.  If I see a solid turnaround towards higher prices before we hit my goal, I'll buy for higher if I need to.

When I first learned about bitcoin nearly 2 years ago, I thought it was cool and had potential.  For the last year or so, I've felt pretty strongly that bitcoin was the future of money.  For the last month or so, I've thought that the rest of the world was coming to that conclusion as well.  This crash did nothing to change my long term views.  From what I'm seeing in the press and from people that I talk to, bitcoin is still gaining acceptance, the crash did nothing to slow that down.

I don't consider myself to be a particularly skilled trader (notice that 50% of my recent trades were unprofitable), but I am occasionally willing to risk a small portion of my precious bitcoins when I feel like I can acquire more in the short term.

My only regret at the moment is that I don't have the time to contribute more work to the software.

None of us are survivors yet, this is only the beginning of the crash.

I bought 433 coins at 11USD some months ago as a trend trade. This is how I got out:
- Sold 333 for Gold and Silver Coins at 30
- Sold 75  for USD at 48.8
- Holded 25 BTC.

I got screwed by the bubble, which took place when I was sleeping. I wanted to sell at 120 (when I got  up) but MtGox was already on "market cooldown mode". I ended up selling them at 80. So, I neglected to nail the top and missed 7K and got screwed by f****** MtGox and his bloody cooldown mode.

But overall, I made a good profit. Can't wait to see BTC in single digits again to get back in.

PS: I HATE MtGox

I had a shit ton of them given to me for free about a year ago or so when they were worth $5 each. Then I put it on external hard drive, and forgot about it. Start seeing BTC on the news and like omg I gotta dig out my external hard drive and sync up my wallet.

Got out at $138 being confident it was going to crash soon, should have waited to around $250 :(

Cashed out completely at 92 euro just after mtgox came back up, would have sold earlier but I always seem to be busy with something when we reach the top of each bubble, was out fishing when the 2011 one happened -.-

Still quite heavily invested in BTC tho trough my BFL and Avalon orders.

Did some arbitrage and lending to speculators.

Thanks guys. I'm buying right now. A bitcoin crash is an opportunity.

Had allmost all my coins stuck "pending" at bitcoin-central through the major part of the drop. Thats a misstake I wont make again...
Bought them at an average of about 40 euro so its closing in on being a loss for me soon. I'll probably keep sitting on my coins anyway.

I realized crash is imminent at night before crash, like 16 hours before. But i didn't knew when exactly, hoped the price will double again till this saturday. Was totally uprepared, BTC was in cold storage. At work i had unusally busy hours, couldnt prepare anything. Went home and bum - price started to drop, my market (Bitcurex) went down completely with few bitcoins burried there. In next hour I opened few accounts on markets (BUT NOT ON f... GOX) learnt interfaces, transfered BTC with 11x minimal provision. It turned out that BTCDE is totally bad but i luckily transfered just 1,5BTC over their withdrawal limit. Bitstamp crashed both price and itself, i had to move BTC from there too. All sooner or later landed on BTCE - Russians made amazing market, it trades all stuff at once, can even exchange fiat, and there was few minimal lags overall. Start sell from 220, than BTC from Bitstamp for 180, last came from BTCDE and sold for 140, but last sell was bad move.
Felt bad after all but now feel like a bladerunner, happy when look how much others lost.
2BTC left. Will not buy anytime soon.

+1, I didn't sell, I used them. By buying in BTC to a seller. I spent half, I kept the rest.  :)

Proper actions would have been
Sell at $250+
Buy back now that its lower, even if it drops you still made profit.

Sold mostly-out at 240, tried to buy back at $170, got goxxed into buying at $130.

Still holding.

($62 AUD as of writing this post. I still have fiat ready for large buys if it dips below a certain point.)

Respect.

I felt I need to go away from this emotional rollercoaster - but have no intention of leaving the building. So I got to a compromise.
I reduced my exposure to heart failure by taking out, in fiat, 126% of my initial investment (bitcoins and GPUs).
I still have 252% of that initial investment (at current rates) in BTC. This is going to be my savings wallet.
The wallet's private key has been exported and stored in a secure place which is not easy for me to access. Then I removed it from the client. So I am not tempted to panic sell.

I'm also keeping a separate BTC wallet for petty cash. Possibly when this shitstorm is over I'll use it to buy stuff that - unfortunately - currently is still priced in fiat.

When I learned more about bitcoin about half a year ago, I was fascinated by the underlaying principles of its working. Mathematical certainty, cryptography in the place of trust, decentralization, ability to express freedom and independence on goverments, banks and single-ponit-failures. I am interested what inherently deflationary currency will do.
I also like the ideo-economical climate surrounding early adopters and enthusiasts, ideas of free-market, libertarian ideas and at the same time possibilities to develop and run "social projects" based on bitcoin in the environment of unreliable trust. I mean projects like shared resources (multi-signed wallets), fund-raising campaigns (with provable assurance of funds return in the case of failure), shared and smart property, microtransactions, and even some advanced concepts like colored coins. On the other hand even the ones doing "socially unpopular things" like gambling, speculating, hoarding, financing ideocrimes, buying drugs cannot be hindered just because majority disagrees about how others should run their lives. I regret that I am unable to process all information and knowledge about bitcoin and I greatly admire Satoshi's genius for designing such well-balanced system.
So I tried bitcoin faucets (most were closed), tried mining (only to find that several yers old GPU won't do) bought a few (too few in a hindsight!) bitcoins when they they were about $12 each... Later, when I witnessed rapid increases and decreases in BTC value (expressed in something called fiat currency :-]), I started thinking about actually making some "real" money, invested a little bit at about $75 leveland then at $180 level, experienced ups and downs, cashed out a little by buying some tangible useful stuff (small knife), I even managed to order one or two Casascius coins. However, I do not consider bitcoin as investment into fiat currency. Primary reasons why I keep and intend to keep some bitcoins are ideas stated earlier. It would be unwise to invest more than you can afford to lose.
Currently, considering last several days, I am at net loss in USD, I did not expect the value to fall bellow $100. Withdrawing all BTC and USD from MtGox (I lost my confidence in this centralized juggernaut) was more important for me than speculating with bigger amount of BTC de facto under MtGx control in the hope of minimizing loss. I transfered something to LTC and I am preparing for other ways to trade.
I thing that bitcoin will eventually recover and emerge stronger. Maybe (but just maybe) recent volatility is a very beneficial to refine bitcoin community and postpone mass adoption by less informed big players focused at speculation and thinking in fiat. How long until situation stabilizes... that is hard to tell. But these are definitely interesting times :-].
Bitcoin is hashing, doing mathematics and still alive...

There has been a complete reversal of sentiment compared to the first of the year 2013. Recall the enthusiasm as bitcoin climbed towards its all time high of 32. Without that enthusiasm, how can a price above 32 be justified now.

I expect a long and slow decline with great buying opportunities.

Bought at $70. Was cheering now I'm pissed  ;D

Mined some in 2011 and kept them during all this time. Sold 30 @44$

Was furious during the whole time at myself for letting go that easily.
Tried to hop in a few times during those minor corrections but missed the chance due to LAG.

Waiting for single digits!

Sold at $235, and I plan to buy when I think it's bottomed out. Maybe I'll miss the bottom, but I'll make a juicy profit either way; the only question is how juicy. ;D

I don't know who bought at $235, but I can only hope they didn't sell, because eventually (perhaps even soon) the price will shoot back up, and they'll look back on this and laugh. But they probably did sell, and now they're curled up in a corner trying to drown themselves in their tears. Oh well.

I'll be buying 100,000 BTC at $0.05 each pretty soon.

Should that ever happen - I also left a few thousands on an exchange (NOT Gox), half BTC and half USD.
So I'll beat your offer and buy at 0.050001  :D

Then I'm bidding 0.050002

I bought most of my coins between £3 and £7.

I sold a few at £20

Sold a few more at £30

Bought a few at £45

I then had 95% of my coins tied up in the instawallet hack. So they are all in limbo. (Forced 90 day hold for whatever % i get back)

The remainder i am holding tight. :)

Bought at $10, a reasonably sizable amount.

Watched it go up, planned to cash out 10% of my holdings at $290 but too bad, we never got there

With the falling knife I did a small short sell using 5% of my BTC holdings which netted me another 10 BTC. Just so I could say I profited from all this, even if it was just a little.

I'm still keeping it all.

I hate Gox as much as the next guy but thats the main exchange for now, so I've got fiat on the way to my trading account there.

I will be buying more very soon. My money can't hit the exchange soon enough.

Despite a sizable holding of BTC ATM, I want the price to tank. I want moar!!!!

Only survivors are those who cashed out the greater part of their holdings to fiat in 2013 and ended up with more than they had put in. If most of the money you involved in the BTC game in 2012-13 is still in BTC at this time, you're not a survivor.

Most of the money I involved in 2012 and 2013 BTC economy is still in BTC. An I do not feel like non-survivor.

I wasn't talking about how you feel.

Same here. I am here for a long run.

 
 + This was really good experience to have as a young guy. I mean this teached lot about risk management for me. Crash teaches always something. Real losers are the ones who make same mistakes again, not the ones who learn about them.

Didn't buy or sell, just sitting quietly over in the corner mining away.....

Came out of this with increased holdings in both BTC and fiat. I would say I survived ;D

If this were a stock then a crash would likely be the end. That is true of stocks because the money is needed to run a business. In bitcoin there is only supply and demand. It can soar or sink repeatedly without collapsing because there is no one to collapse.
A lot of people have bought recently with no real knowledge of what bitcoin is. These are shaky hands in a hyper-liquid market. If they panic sold I hope their lesson was not too expensive.   

Just checked..

All my coins in cold storage are still there..  My miners are still mining ...  Hot wallet still has coins ...

Did something happen recently to the protocol I'm unaware of ???? 

What's all of this "did you survive" stuff all about anyways? 

Sigg

I post therefore I am. I am therefore I must have survived. Feeling is just a bonus.