Bitcoin Forum

obviously, those who had coins when they were at $1100 should have sold. unfortunately, i was sitting on so many i could not liquidate them all cause i had no clue how to handle all the money. when coins dropped to $600 i figured i will sell a little here and there when i need play money. when the price dropped to $400 i said i will hold cause i had faith in BTC. now the price is in the $200 range and i'm debating if i should get out or stay in. there a few things on my mind that make me wonder if the golden days of BTC is over.

the end of two silk roads, which was a major lightning rod for BTC.

big companies taking over the mining game and squeezing out the little guy through difficulty.

the cost and power requirements needed for current gen hardware.

how quickly hardware becomes outdated and is no longer profitable.

If you're still ahead? I say sell.  It's much easier to count any net gain than to hold and wonder 'what if' after you're hosed.  I've learned this the hard way on way too many of my investments.  Sounds like your gut is telling you to dump as well.  Trust your gut.

And hey...if there ever is a day that it does crash back down to 15 bucks a pop, you can always come back and load the truck. 

The long term charts certainly do not spell a bright future for bitcoin and alts in general.  Holding now would honestly be going against market logic.

If you believe in the tech, hold.

If you bought it when they were ~$15 apiece, you'd still be profiting regardless of the trend. The price was fluctuating in the 300s for awhile, from 320 - 350 for awhile, before recently crashing through the $300 floor. If you wait a little longer to see whether or not the trend will continue, it may prove more beneficial in the long run. It's still a gamble either way though.

Always hodl... https://bitcointalk.org/index.php?topic=375643 8)

I agree, that's why I asked if he was currently ahead.  I would not scoff at profit, even if he bought all the way up to $100 each.  That's still money in the bank.

But there's legitimate reason for concern now with the past year trend.  Most, like myself, thought it could not dip below 600 when it was around 700....then thought it was unthinkable to drop below 500 when it hit 600.  You get the point.  Logic and market trends are not in bitcoins favor.  And those expecting it to stabilize any minute now are the same ones most likely that will be hosed.  Because there are still a lot of people out there that are way ahead and happy to dump their cargo on a sinking ship.

I sold most of my holdings about a month ago and I have no regrets.  Matter of fact, I consider it a Godsend I was still able to salvage money.    If it drops to ridiculously low numbers (double digits), I'll probably jump in and dabble a bit.  But until then, the market just doesn't 'feel' right at all to me.  It's felt like a 4 alarm fire for quite some time now.

i got in when BTC was at $2. i was always about hold, and it paid off for me. but with SR gone and the big companies controlling the market hold isn't logical any more. hold is purely hope at this point.

right now i'm thinking about this saying, wish in one hand, shit in the other, see which one fills up first.

I smack myself silly every time I think about how I never sold my 500 ounces of silver when it was still at $28 an ounce a little over a year ago.


Fuck my life.

precious metals is different. it's been valued since the mayans and egyptians. as long as society is still civilized and trading you can never go wrong holding those type of goods.

Sell off what you wouldn't want to lose. Keep an amount that you can stand to lose.

Hold or dump depends on your financial situation and the % of your net worth you have invested in cryptocurrencies.
You should never base your trading action on what the price is doing.

This pattern will keep repeating itself we are in the middle of peaks at this very moment and after time again to new heights. No reason why this would not happen again network keeps growing on and on.

http://oi61.tinypic.com/epg65g.jpg

for me, it's less about the price and more about the points i made in the first post.

BTC was at it's best when we were GPU mining. anybody could get in the game. i had four 6990 going and was killing it. those days are gone. only the big boys can mine anything substantial cause of price power and difficulty. and whether you used SR or not it was a big part of where you dump your coins for alot of people. without it where do you spend your BTC? only here to trade for bullshit that you can get from any major retailer.

Ahhh rich enough yes? Well what you doing here then go hug your wife and play with your children or make some if you don't have any yet.

Dump it all then

LOL!

i also think that $1100 jump was either.....

A) MTgox trying to manipulate the market fraudulently for profit.

B) government or big money trying to test/crash the system.

i don't think we will ever reach those numbers again.

It really depends on how much your have and what its worh to you.
I would say hold but if you cant afford to loose what you have if something crashes the market then sell enough and hold what you need to live in fiat, then hold some savings in BTC.

I'd rather hold, until it rise again. Think about this.... Lots of hoarders have bought loads of Xmas gifts and possibly paid for holidays and this will have an downward affect on the price. {More BTC on offer on exchanges, and less people, willing or capable to buy it}

How many people make huge investment decisions, in December/January anyways? {Lots of clever people buy up the bargains}

Things will pick up again, after the hangover spending affects have calmed down.  ;)

Cali will soon be handing out coin as foodstamps

and since you can't just print coin

Too late to ask, if you wanted to sell you should've sold earlier. At present the chance of it going significantly lower is small.

You've made your choice earlier to hold, stick with it.

honestly, i don't want to sell. but the rational side of me if making me think about it.

a few weeks ago my buddy told me to go gambling with him. i got on a quarter slot machine and was on a hot streak. got myself up to $92. when i hit $90 i said i was going to cash out at $100. $100 never came. as my winnings dwindled i said i'm going to keep going and didn't really concern myself with losing it. in the end i lost it all cause i wanted a few more bucks. this can be disastrous with my BTC and i could lose a small fortune.

How do people estimate that; how statistically probable is that prediction? While it's true that BitCoin is gaining traction, it's been decreasing in value EVEN THOUGH popularity has been increasing

I say hold it for a few month

I believe in the potential of btc

Not sure how to put it into words but just ponder for a moment....If you hold on to it right now what else do you have to lose? If you sell out now, basically you have confirmed your fate. Either way, you are just mitigating the losses. Even if the price goes practically to zero which I believe is not possible as long as there is demand, the risk you are taking is probably worth it.

If everyone was to just hold onto it, wouldn't the price decrease?

Always hold, remember the price just 2 years ago, we cant just go exponential all the time.  Also consider 2014 has been the best year for bitcoin so far.   

dump!

Hold :)

It's quite amazing that most of the dreamers who use the $1,110 price as a reference point to predict further growth ignore that the aforementioned all time high price was most likely due to two Mtgox bots' (Willy and Markus) trading activities. The two bots purchased 570,000 BTC which was more than enough to push the price to $1,100.
http://www.coindesk.com/bot-named-willy-did-mt-goxs-automated-trading-pump-bitcoin-price/

The growing BTC user base and incoming VC money to BTC infrastructure projects are really encouraging, but everything else has been either a scam, fraud or completely delusional activity in the last 18 months in the digital currency domain -  it seems to me the $1,100 price certainly was a scam.

This is the beginning of something big, haven't seen movements like this for awhile, someone is moving coins around, that said, if you bought in the highs that was foolish and you should have dumped a long time ago.

dillusional.jpeg


http://moneyweek.com/wp-content//uploads/2009/03/09-03-11-MM1.jpg


We're not even close to the bottom yet. This is basic economics 101.

Exactly.  We don't know how many you have and what you could do with it.  But you have to consider opportunity cost.  Lets say you sell off what you would earn in a year.  You can enjoy a year off working and do what ever you want.

You probably only have 80years in you, 1/80 free roll is worth how much?

If you jam it in a mortgage, and reduce the loan by a few years, then again, you don't have to work those few extra years.

If you will just use the year off to watch shitty day time TV then hold.  If you have something else to do then maybe invest in yourself?

/My thoughts.

Neither hold, nor dump... U should just pump ;)

hahaha, oh I have heard that story so many times.  Theres a good youtube video of Gus Hansen doing the exact same thing.

I am happily buying more coins at current level.  ;D

Great new year present. If you haven't bought already, this is the time.

The bubble has burst last year, don't create illusions. This pattern will surely repeat itself, but in a another reckless scheme.

dump while it still lasts.
Alternatively invest in alts which would survive the imminent downfall of btc instead of dumping to these shit fiat-prices.
There's some nice alts for hedge.

Also doesn't hurt to be in fiat partly - buying back in is the click of a button.

Seems silly to me selling now at this price especially if you've got this far. Personally I think bitcoin is only just getting started but it's going to be a turbulent time in the beginning which I still believe it is. If you believe in the technology and its possibilities keep holding, if not maybe you should get out when you next can, but I'd hold for at least a little while longer.

Definitely dump.

There's a correction going on.

Right now is a period of great change - will give the institutional investors something to think about tomorrow (Monday).

If you can ride the wave down, you're on to a winner.

I'm 100% in US dollars at the moment. I'll get back in once the price is right.

Not sure anyone is going to take a newb called altcoin hitler seriously, but if it's one thing I know there's currently no alts worth investing in and you'd likely have a better chance of losing your money. Just ride the storm out with bitcoin and you will be rewarded eventually.

Illusions? LOL.  We're not even in the despair phase yet.  Look, hold if you want to...but facts are facts.  Bitcion is crashing and has been crashing steadily since last year, and the bottom has not been reached yet.

Hold only if you can stand to lose what you have invested.  Advising anyone to do the opposite is both shameless and irresponsible given the current market conditions.  Then again, pumpers will always be around to try and lure the fish in.

Not true. If he sells now, there is also the potential that he could buy in lower.

I don't think hold is a good idea. I've commented the black chart showing we are near the strongest uptrend, which is basically not true. I personally believe that the price may rise to $600-$700 by the end of this year if certain conditions are satisfied, but that's yet to see if this turns into reality.

Just consider this as bitcoins... "Great Depression".  This is the part where the bitcoin nonbelievers will disappear :D

Get the cash or most of it into the bank, no brainer ;D

Banks aren't safe anymore, use a shoe box instead.

Or mattress, LOL :)

Dont forget mtgox bots, these pump was irreal with fake money and fake btc

It was set clear in several posts that the MtGox pump happened as they were trading always like 5%+ above any other exchange also.

BTW, check out rpietila's bitcoin savings plan:

https://bitcointalk.org/index.php?topic=345065.0
http://bitcoinsavingsplan.com/

When in doubt: Panic hold  :-\ I know, it sounds like a weird thing, but if you really aren't sure what to do, it's best not to act on emotions. Think about what to do thoroughly and don't act irrationally. I must have lost a ton of BTC on emotions already...

wasn't china fault, when they enter the game?

now they left and we are returning to 100 dollar range, slowly

But you need to add a 0 to 1163, then it will be an accurate measurement.

I'd have dumped a long time ago if I was you, but at this point i'd wait to see if it bounces to 300, dump a few, ride out the rest or something.

Even if you don't believe in btc at all and if the whole bot manipulation thing is true, is there some unwritten law that no one is allowed to do the same scam twice or a different one for that matter?
Maybe they are waiting for the gox shit to finally fully play out and then they will evaluate the consequences.  Maybe they are just some super rich asshole, trying to become richer.  Rest assured, it will happen again when the scammer can hide behind reasoning for the huge surge in buy orders.  
 
The illicit marketplaces will grow over time as well.    

You bought/mined all your coins in the $2 range and you are already up how many tens (or hundreds) of thousands of dollars? This is about the least stressful question I've ever read on this forum, who the fuck cares if you hold or dump? you are already a huge winner - good for you.

Selling and making 100,000$ is not the same as selling and making 1,000,000$ or 10,000,000$. It matters a lot for him.

what if its winklevos dropping all coisn to buy back cheap for their trust fund? :)

question is not to hold or dump, question is - how many more should we buy!

Sorry all those who bought over $500 this year aren't tripping over themselves to help this poor guy with this tough decision.

They wouldn't do that in my opinion. The are real Bitcoiners and with such a movement they could destroy the market fast.

Hump

+1 lol if you cant decide

It would be very risky to do it and they are launching the ETF now so they want positive news and a rising price.

hold and buying more, I wait it will lower until 200 max, then it will stabilize and wait for the next boom

No, they don't. If they are launching the ETF, they want the price at lows to pump up to the max.

dump is okay, but be sure to have your alarm, as soon as it hits 220 better buy back or you'll miss the train.

Dump half......

Keep the other half and split between btc and a select few alts.


Do the above and you can at the very least smile a little, no matter what happens.

Dump it like you've never dumped before. The pyramid is exposed and will go down in history books right up there with tulip mania. The blockchain tech will stick around but the Bitscam brand will be a blip in 20 years.