What's your exit strategy?

[elux]

Everyone and their mother is buying Bitcoin again. Price is going up and up. No one wants to sell before the rocket runs out of fuel.

http://bitcoincharts.com/charts/mtgoxUSD#rg90zigWeeklyztgSzbgBzi1gRSI

What's your short / midterm exit strategy? Do you have one, or are you are looking for one? (Sell at $10 000 doesn't count.)

Buying into the bubble and selling into the crash doesn't seem like the best possible idea, so I'm shopping for alternatives.  

[1715609963]

1715609963

[SaintFlow]

Exit strategy is someone prying them from my cold dead hands

your welcome

[Piper67]

What exit strategy?

[bigbox]

My exit strategy for government backed currency is to buy Bitcoins.

My exit strategy for Bitcoins is to buy goods and services that I need, when I need them.

[waspoza]

Its my retire fund.

[ruski]

I would be swing trading - but there aren't any goddamn swings to trade! Just up and more up!

That said, I'm waiting for/expecting a large blink-and-you'd-miss-it spike at some point relatively soon. For that reason I have a few large fixed sell orders sitting between $20 and $40 that I'll probably take down if the growth is solid. Does that make me a false waller? Maybe, but it's not there for manipulation like a lot seem to be. Just to catch a spike.

Other than that, no, I don't. I bought in at $8, and redoubled at $9, mid-$11 and mid-$12. Watching and waiting and may keep buying.

[Vandroiy]

• Set limit order
• Click sell
• Send more coins from standby
• Repeat

My sentiment is now bearish and my strategy is "hit the sell button on a regular basis".

[SkRRJyTC]

My strategy is to take profit in the form of Gold and Silver.

[fcmatt]

as a miner constantly averaging out. why bother speculate? just sell into the market and enjoy the
stress free ride of constantly rising prices. this bubble will burst just like that last one.

[elux]

My strategy is to take profit in the form of Gold and Silver.

Coinabul? Interesting idea.

[aq]

My strategy is to take profit in the form of Gold and Silver.

Coinabul? Interesting idea.

But that opens the question, what is your exit strategy on Gold and Silver? Bitcoins?

[SkRRJyTC]

My strategy is to take profit in the form of Gold and Silver.

Coinabul? Interesting idea.

But that opens the question, what is your exit strategy on Gold and Silver? Bitcoins?

Yup, I would recommend Coinabul.

The thing about Gold and Silver is a dont need to have an exit plan figured out for them yet.  I am much more comfortable with the idea of holding gold for 30 years than I am with holding BTC for 30 years, at this point.

If BTC continues growing my long term sentiment could change in a few years, but its what feels safe now. (PS I have plenty of BTC that I will never sell or trade for Gold... hoping to buy a house with these, or something similar.)

[Elwar]

My exit strategy is moving all of my BTC from my MtGox account to an off site wallet.


I know that once the pirate thing hits there will likely be a drop in price but in the long term it will rise.

I wish I had more money sooner to put into BTC. I had no money when it was $2/BTC. I still have no money to put in at $14/BTC. I hope the price is not too high when I do have money.

[kibblesnbits]

My strategy is to take profit in the form of Gold and Silver.

Coinabul? Interesting idea.

But that opens the question, what is your exit strategy on Gold and Silver? Bitcoins?

Yup, I would recommend Coinabul.

The thing about Gold and Silver is a dont need to have an exit plan figured out for them yet.  I am much more comfortable with the idea of holding gold for 30 years than I am with holding BTC for 30 years, at this point.

If BTC continues growing my long term sentiment could change in a few years, but its what feels safe now. (PS I have plenty of BTC that I will never sell or trade for Gold... hoping to buy a house with these, or something similar.)

+1 for the Coinabul.  I don't like keeping all my eggs in one basket with BTC, so when silvers low and BTC is high, I'll buy a few coins.  I'm not a heavy enough player to start a retirement plan with BTC, but in five or ten years who knows?

[Beta-coiner1]

My strategy is to take profit in the form of Gold and Silver.

Ah,I see we think alike.

[DarkEmi]

I ll exit when the ****** from bitcoinica / intersango will give me back my bitcoins

[fcmatt]

People are really buying gold and silver at bitcoin websites with their outrageous premiums?
I see a price of 20 dollars higher for a 1/4 ounce canadian maple right now at coinabul compared
to apmex.

Typical bitcoin website. Just charge more then the fiat websites and be a middleman.
The buy prices on coinabul is hilarious.

[SaintFlow]

Lol, +1 There where a lot of euro trades this morning, I think this IS the exit strategy... from fiat.

You are spot on! I for one have drastically reduced my euro exposure.
Do not get me wrong. I like it here in the European country club and American country club is kind of Ok, too.
But Bitcoin is what really makes me feel like a citizen of the planet.

[waspoza]

Exit strategy is someone prying them from my cold dead hands

your welcome

Lol, +1 There where a lot of euro trades this morning, I think this IS the exit strategy... from fiat.

+1 well said.

[piramida]

my exit strategy - sell 20% at every 50% increment. sold first 20% at 15, next order sits around 22... then 33... yes, it's a bit conservative, will be out of bitcoins at 65 and will just wait for the temporary craze to die down to buy back in. at $10.

[n8rwJeTt8TrrLKPa55eU]

My exit strategy for government backed currency is to buy Bitcoins.

My exit strategy for Bitcoins is to buy goods and services that I need, when I need them.

+1

[SgtSpike]

Probably no exiting from me until well after we break the previous all-time high ($32), or I absolutely need the money in USD form, or I get my ASIC miners.  As it is, I just want to hold what I have so I have SOMETHING if Bitcoin goes completely crazy.

Regardless, my exit strategy will always involve only selling a percentage of currently-held coins.  So, I might make that 20%, and then 20% of the 80%, then 20% of the 64%, etc etc.

[tvbcof]

The strategy I rely on is to realize a 100% loss.


The strategy I hope for is:

 - recoup my speculative investment if/when the price gets to around $100/BTC.  This will leave me quite a significant stash.

 - if the price gets into the $1000's/BTC then I'll start drawing down the value in exchange for shit I want.


Along the way I may or may not use BTC as I have in the past or as I expected to when I got in:

 - donations to causes I believe in

 - things which do not benefit by the capability to issue charge-backs (esp, pay-as-you-go services like compute service leases.)

 - ratcheting in transactions in lu of relying on trust to keep parties near whole.


A fly in the ointment in terms of using BTC is that I don't like most of the more 'convenient' ways of getting fiat into Bitcoin and I don't like the alternative of leaving a large balance on the books of an exchange.  This is a limiting factor to buying BTC in real-time as needed to use for odds and ends.

[finkleshnorts]

I'm selling about 1/3 of my holdings at 16 dollars. That way I make my original investment back, the rest is gravy.

I'm prepared to buy a ton more when the price falls again.

[TraderTimm]

My 'exit' strategy is already in play - I'm exiting the dollar money casino and heading for the rational shores of the bitcoin algorithm. I honestly don't see fiat currencies surviving the next financial implosion.

[Coinabul]

I'll just leave this here:

Coupon code: ENDTIMES

(First 10 people to use this code on checkout get a discount!)

[notme]

I'll just leave this here:

Coupon code: ENDTIMES

(First 10 people to use this code on checkout get a discount!)

Lol... capitalize on the panic selling.  Good call.

[Coinabul]

People are really buying gold and silver at bitcoin websites with their outrageous premiums?
I see a price of 20 dollars higher for a 1/4 ounce canadian maple right now at coinabul compared
to apmex.

Typical bitcoin website. Just charge more then the fiat websites and be a middleman.
The buy prices on coinabul is hilarious.

So, let's look at a nice coin: Austrian Philharmonics - 1 Troy ounce
That's listed at $1,730.8450 on Coinabul. Shipping costs are as follows: Coinabul Insured Express $43.9498 or Sent to you without insurance $24.5602

Let's look at the same price on Apmex: $1,752.64

I tried to calculate shipping costs... But at this point their server SSL certificate pooped out on me, so I couldn't even continue!

Let's look on Gainesville coins:
Bank wire price: $1,692.92 - CC price: $1,742.86

I selected Bank wire price... but I got this message: "Gainesville Coins is proud to provide a discount on bankwire purchases. Unfortunately, due to the high costs of receiving a bank wire a minimum order total of $2,000 is required to checkout with this option. We apologize for any inconvenience this may cause you. To continue please click on the pay by credit card button."

So at this point I have to switch to credit card.

Their shipping costs: UPS Ground - $25.50

So, we have a total of $1768.36 via Gainesville coins.

Let's pull that amount from Mt.Gox. I see a price of 13.1BTC per USD so, we need to liquidate about 135 BTC. That's a 0.55% fee on Mt.Gox... So, there's .7425BTC to Goxxy, or 9.73 USD. God only knows what fee you'll receive on withdrawal. So, even without withdrawal fees we're up to $1778.09 if we used Gainesville coins.

Or you know... We could purchase on Coinabul, avoid the heartbreak and pay $1,766.4684 (With the help of a handy dandy coupon code located in this thread).

I understand that some of the other coins have higher premiums, but that fact that a Bitcoin business can be competitive with a MONSTER site like Apmex or Gainesville is amazing. These sites are able to provide such low premiums because of the volume they receive. As Coinabul gets bigger, our costs will go down and we'll be able to do the same.

TL;DR: Apmex is technically inept, Gainesville coins prefers the larger investors, and we at Coinabul are doing our best :c

[Jutarul]

My exit strategy for government backed currency is to buy Bitcoins.

My exit strategy for Bitcoins is to buy goods and services that I need, when I need them.

+1

[SgtSpike]

Coinabul - you make a compelling argument, but what is your normal price (i.e., no coupon code, since that cannot be relied upon?)

[Technomage]

I don't have an exit strategy but someone already revealed my strategy. That is to accumulate more BTC either by buying with fiat or trading and spend more and more of them gradually as the Bitcoin economy grows.

Accumulating by trading is a great strategy especially in situations like this, I managed to accumulate a decent chunk of BTC today.

[elux]

Update: I found my exit.

[niko]

I'm not in it to "make money" - although, I was literally making money mining back in the days. I use Bitcoin for international transfers, and right now it works better than any other option. Doesn't really matter what the price is, albeit volatility like what we see today can be a problem.
All in all, I don't need an exit. I do trade, but that I consider play money. I'll keep playing.

[ruski]

As just revealed - most exit strategies consist of waiting for a big dip in the price, and selling at a loss.

GREAT JOB GUYS!

[FlipPro]

There is no such thing as an exit strategy.

[Cablez]

http://www.youtube.com/watch?v=H3YLq-yZFjY

[Coinabul]

Coinabul - you make a compelling argument, but what is your normal price (i.e., no coupon code, since that cannot be relied upon?)

The coupon took off $8.6558.

[oakpacific]

My exit strategy:

(1). if the price keeps going up, hold what I have;
(2). if it falls to the point of my previous entry or below, buy more to push up the price;
(3). if it falls too low, mine it!

[zvs]

waiting for Kim Dotcom to finish filling out his slush fund

[SgtSpike]

Coinabul - you make a compelling argument, but what is your normal price (i.e., no coupon code, since that cannot be relied upon?)

The coupon took off $8.6558.

So basically, you're still cheaper either way for people going BTC --> Gold.  Nice. 

[tiberiandusk]

Exit from what? Bitcoin isn't going anywhere. Only the dumb speculators are getting screwed in this and quite frankly they deserve it.

[evolve]

I already hit my exit strategy ...im cashed out into usd, and holding until I think we've bottomed out.