What's your exit strategy?

[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.