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evolve (OP)
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August 18, 2012, 08:06:54 AM
Last edit: August 18, 2012, 08:38:51 PM by evolve |
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Im holding on to profits for now. Cashed out into usd after today's jump /crash and ended up ahead. Holding until the next good opportunity.....
What are you doing and why?
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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ElectricMucus
Legendary
 Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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August 18, 2012, 08:11:31 AM |
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I'll be around, didn't sell though. To profit from these things consistently you need automated assistance imo. I promised myself I do not make another trade till I got that running.
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evolve (OP)
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August 18, 2012, 08:16:51 AM |
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I was doing well with a open source bot by aricie, but ive been (knock on wood) making good manual trades lately and beating my bots performance (prob due to higher risk tolorance and larger trades....and luck, lots of luck).
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finkleshnorts
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August 18, 2012, 08:18:32 AM |
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Sold about a third of my BTC at 12.80 (which was immediately after my coins hit Gox), looking to buy back in at under 12. Rally continues, but be prepared for lots of volatility to trade over.
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evolve (OP)
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August 18, 2012, 08:42:26 PM |
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Looks like there is still some downward pressure but the dust is starting to settle....jumping in now would be risky, but the gamble could pay off. As for me, I'm still staying in usd a little longer, I don't trust that we've seen the bottom of the crash yet.
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Melbustus
Legendary
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Activity: 1722
Merit: 1003
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August 18, 2012, 10:06:15 PM |
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Holding BTC for the long-haul, and happily acquiring more within the full range of current prices. My expected value on predicting what's going to happen in the short-term market is small (relative to my day job effective hourly), so I don't bother wasting time with that.
Ultimately, it's not going to matter whether you got in to BTC at $12 or $15. I consider BTC a wildly asymmetrical bet right now. It either works, in which case BTC > $100 (possibly much >), or it doesn't and it goes to pennies. At even odds, by that analysis, BTC is a fantastic buy right now. I consider the price to be long-term unstable anywhere between $5 and $100. So just buy on the low end of that range and don't be a weak-minded short-term thinker sweating ultimately irrelevant details.
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Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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TraderTimm
Legendary
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Activity: 2408
Merit: 1121
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August 18, 2012, 10:13:34 PM |
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Just watching this chart: https://docs.google.com/open?id=0BzdbolIn7zf1czhubUR6R2RoQVUIf the daily closes below that longer-term trendline I'll shift a portion out and prepare to get back in. If it closes above, I'll accumulate some more. |
fortitudinem multis - catenum regit omnia
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Chalkbot
Legendary
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Activity: 896
Merit: 1001
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August 18, 2012, 10:38:20 PM |
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Got out at 14.07. Waiting until Tues/Wed before I even consider getting back in.
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Raralith
Newbie
Offline
Activity: 39
Merit: 0
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August 18, 2012, 10:40:35 PM |
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Bought in at $8ish, moved out of cold storage when it was at $13.80, by the time it was available I sold at $12.40. I'm probably going to jump back in on Monday or Wednesday when it hits south of $10.
I'm still long on BitCoins but why not make 30-50% more coins by taking a gamble.
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notme
Legendary
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Activity: 1904
Merit: 1002
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August 18, 2012, 10:46:51 PM |
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Bought in at $8ish, moved out of cold storage when it was at $13.80, by the time it was available I sold at $12.40. I'm probably going to jump back in on Monday or Wednesday when it hits south of $10.
I'm still long on BitCoins but why not make 30-50% more coins by taking a gamble.
Because you might end up with less, hence the term gamble. |
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thezerg
Legendary
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Activity: 1246
Merit: 1010
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August 18, 2012, 10:57:27 PM |
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I've been accumulating since below 5 as a long term hold and had met my investment target. But I could not resist taking advantage and so I dumped some coins (5% or so) that I had acquired at 11.75 for 13.xx to 12.60 (trading on a smaller exchange). I managed to buy them back at 11.30 or so but haven't converted the profits to BTC yet (market too thin).
But frankly, I don't think I'm going to get my bid on the rest. The market seems to be calming down and sellers are rapidly going to realize that the dump was somewhat artificially triggered, that the global economic situation is still favoring bitcoin, and hold out for 15+.
Unless "someone" tries to trigger another panic I doubt we're going down much from here (11.75)... I know there is concern about USD not hitting the exchanges over the weekend but in fact if this event was artificially triggered and then BTC bought up to pay back loans these coins will be temporarily (at the minimum) removed from the exchanges. So the exchanges could in fact be fiat rich, BTC poor right now.
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