Should someone who bought in at $150 sell and cut their losses NOW or hold?

[Walter Rothbard]

Should someone who bought in at $150 sell and cut their losses, or hold?
Sell now and cut your losses
Set a sell order at $150 and break even
Just hold and play long

The correct answer is:

D. None of the above.  Start a bitcoin business to start earning more Bitcoin.

[Zaih]

Pick ya nuts off the ground and HOLD 

[seleme]

I've bough at 114, at first wanted to keep them and watch them rising 20$ per day so had not sold at 266. When that dream went away I've decided I can't wait for those 4 coins to be worth 100 000 in the future so thought I might start trading them as buying more wasn't a great idea. I'm on 10 now, and as long as number of my coins grow I'm less worried about price rise, if it fails more I'll hopefully make more of them trading and if it reach the point I'm ready to invest from my fiat, I'll add more to them.

That 266 is something that makes me think it's worth to invest some money (for real price though) and loads of my time if I can make some decent number of coins in the run. If it's not worth, well, I'd spend only money I'm cool to throw and I'm hard worker so if all my work would be for small stuff I'll deal with it somehow.

[600watt]

Should someone who bought in at $150 sell and cut their losses, or hold?
Sell now and cut your losses
Set a sell order at $150 and break even
Just hold and play long

The correct answer is:

D. None of the above.  Start a bitcoin business to start earning more Bitcoin.

 this answer made my day. so i will start a bitcoin-business with my brother. it may not get as big as those winklevoss guys, but this is the new frontier! everything is possible here ! bitcoin will unleash the financial powers of the internet community. this is the beginning of a seismic shift. (i´m not talking about speculation here)

you´ve got it right mr rothbard: start bitcoin businesses

[Odalv]

I only bought 2 BTC so not worried either way but interested to see what peoples opinions will be.

Assuming you don't need the money, hold, it will keep you in the game and Bitcoin will either return or go to zero and never return, many people sold at -$10 after buying at $30+ in the last peak, if they held they would still be up even right now.

I'm not going to make a new thread for the same exact topic, so I hope you don't mind if I ask a question as well.

I bought at $70, how low do you expect this crash to go? If I sell now, and it goes to $50, I can make more than I had before. If I sell now and it goes to $40, I can make a lot more than I had before.

Either way, I only bought $200 worth, so it doesn't matter much, but it's interesting to know what you guys think.

It might go lower, be-careful day trading, it might go down and down, and then you sell to buy more Bitcoin when it goes further down. Except that ends up being the real low and it starts to gradually rise again. $70 will be met again, might take a year max. (unless Bitcoin goes to zero never to return)

It's beginning to look like $50 is the bottom, folks.

Are you being sarcastic? I think $50 is quite high for your bottom proudhon. Not expecting single digits?

Looking at the broader view, there's really a tremendous amount of support building up around $10 that can protect against single digits.  That's probably a lot of the institutional money placing itself visibly on the sideline in order to watch this play out a little while longer.  As MtGox builds confidence around improving their backend, that money will feel more confident about getting back in the pool.   It'll probably take some time, but I think there's a good chance this gets repaired.

Time to SELL (proudhon is bullish)

[axus]

I only bought 2 BTC so not worried either way but interested to see what peoples opinions will be.

I bought 5 coins in 2011 at $20 during the first bubble, and they dropped below 5.  It took over a year, but holding was the right thing to do.  You can buy more coins now if it makes you feel better.

[Maged]

Take your emotions out of the situation, since they will only get in your way. Pretend that you don't currently have any bitcoins, but you have $150 ($75/BTC * 2 BTC) instead. Would you be willing to buy 2 BTC at this price with the $150, or would you wait? That will answer your question of what to do.

[drakahn]

where's the buy more option?

If you buy now the average price you paid is brought down

[muyuu]

These 2 coins will pay for your kid's college.

[darkmule]

Jesus Christ.  Strong hold. 

As dumb as the idiots who bought in at $250 are, the morons trying to sell out at the bottom are even dumber.

[anu]

You thought 150 is cheap and now you think 70 is expensive?

Listen, a Euro confidence crisis in Cyprus pushed the price from $40 to $266. This will happen again, but in Italy, Spain or even in France. Maybe tomorrow, maybe 3 years down the road. What do you think will happen to the Bitcoin price then? My guess is 5-digits. Maybe 6.

[hubbabubbabaker]

Hold or sell, buy in lower, and hold.

[sd]

Buy something you want on bitmit, from one of the stores that take BTC, or elsewhere.

An economy is based on trade not speculation so use your 2 BTC to stimulate the economy.

I brought soap and cigars, and sold various computer parts for BTC.