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Author Topic: Tell us why you sold your Bitcoins  (Read 2519 times)
hazek
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June 08, 2011, 03:20:45 PM
 #1

If you sold your Bitcoins in the past few days, would you please tell us what your reasoning was for not holding on to them?

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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Dude65535
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June 08, 2011, 03:34:33 PM
 #2

I sold a few on Saturday at 17 to get back some money spent on mining hardware.

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SgtSpike
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June 08, 2011, 03:37:10 PM
 #3

I sold 10 at around $18/ea to buy a new PSU to replace the one that died in my 3x 5830 mining rig.

But typically, I cash out 50% of the coins I generate.  That way, you know, just in case something goes wrong with bitcoins, I still come out with a decent profit.  I cash 10, save 10, cash 10, save 10.  Right now, I'm 3.5 bitcoins on the way to cashing another 10.  Which will be a nice tidy sum @ $31.50/coin.  Cheesy
acamus
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June 08, 2011, 03:38:43 PM
 #4

I was considering selling some to get back down to my original investment to reduce risk but i'm glad i didn't.

Short Bitcoin  (http://forum.bitcoin.org/index.php?topic=12536.0) if you dare.
http://www.tradebitcoin.com/
http://oneminuteslow.com/bitcoin/100-20.png (http://forum.bitcoin.org/index.php?topic=8895.0)
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barbarousrelic
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June 08, 2011, 03:54:30 PM
 #5

Considering the risks of a market crash, they became an unpleasantly high proportion of my net wealth.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
Litt
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June 08, 2011, 04:00:27 PM
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I was hungry for some pizza.  Roll Eyes
kiwiasian
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June 08, 2011, 04:07:31 PM
 #7

Because I wanted $...?

Isn't that the whole point?

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rezin777
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June 08, 2011, 04:11:01 PM
 #8

Because I wanted $...?

Isn't that the whole point?

Get fiat for BTC? Pass.
ZombieDeity
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June 08, 2011, 04:12:43 PM
 #9

Because I wanted $...?

Isn't that the whole point?

No one is questioning the reason for selling them in general.  I think the purpose of the question was to get at why now and not later?  Are you afraid the market will tank soon?  Why not hold out for $50/BTC or $100 for that matter?  The question is really, "Why now?"
triforcelink
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June 08, 2011, 04:15:16 PM
 #10

where are the people who are worried about the bubble?

m4rkiz
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June 08, 2011, 04:35:19 PM
 #11

didn't expect that they will take off that soon and sold 1000 BTC for ~$3.5 a month ago
but that actually covered all my bitcoin related expenses - including electricity for next few months - so those few hundreds i have saved are 'completely risk free' and i won't touch it until price stabilize
hazek
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June 08, 2011, 04:38:07 PM
 #12

Hmm I was expecting a lot more answers to my question since we had 100k BTC traded in the past 24hours. Someone obviously is selling..

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
legion050
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June 08, 2011, 04:42:38 PM
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Someone obviously is selling..

indeed. and they worry about people hoarding.. the higher the price, the more incentive to sell  "NOW"...
kiwiasian
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June 08, 2011, 05:41:09 PM
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Because I wanted $...?

Isn't that the whole point?

No one is questioning the reason for selling them in general.  I think the purpose of the question was to get at why now and not later?  Are you afraid the market will tank soon?  Why not hold out for $50/BTC or $100 for that matter?  The question is really, "Why now?"


Look at the prices. Look at the economy structure. Compare it to past historical events--it's a bubble. Prices shoot up exponentially...and it is going to crash. Look at the gold market for example...
If you are hoarding 100+ BTC and you're waiting for it to be worth $100 USD/BTC...good luck with that Smiley

Honestly, how long do you expect the current market to hold up?

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Freakin
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June 08, 2011, 05:43:10 PM
 #15

Sold enough to cover my initial investment (in coins only, not hardware) today at 30.5.  This was mainly to shut up my wife.

Rest are being held for the long haul
rezin777
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June 08, 2011, 05:55:23 PM
 #16

This was mainly to shut up my wife.

I hope, for your sake, they don't hit $1000 a coin, or you will never hear the end of it, and it will be your fault!  Grin
rezin777
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June 08, 2011, 05:56:11 PM
 #17

Honestly, how long do you expect the current market to hold up?

What percentage of the worlds population that has a use for Bitcoins have Bitcoins?
alkor
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June 08, 2011, 06:00:00 PM
 #18

I sold 100 BTC when it was $6 because my bank account was running really low and I needed the cash to pay bills.
Jack of Diamonds
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June 08, 2011, 06:01:13 PM
 #19

Because my mining farm has running expenses that can't be covered with BTC, like constant 8000W electricity consumption and 2 GPU's that went bad + 1 RAM stick that went sour this week.

I sold a few dozen at $21 per piece and kept the vast majority. I don't fret over price increases because they are a fact of life just as electricity bills.

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Grant
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June 08, 2011, 06:04:47 PM
 #20

I sold all my bitcoins on may30th 2011, not because i don't like rallies. But because i was gone from january till may30th from bitcoin, my initial goal was to see a successfull bitcoin economy and while speculatively all i hoped for was to gain 100% on my invesment, i gained much more than i ever dreamed of so i had to sell.

After a cold shower i watched the rally, every single day and couldnt resist it anymore. I had to embrace the horror, i bought back only half the amount of bitcoins i sold, but at double the price (at $17). This time its different, this time my goal isnt just a successful bitcoin economy (because its already there) nor a speculation of 200% gain, now i wanna see bitcoin as THE standard internet currency something that will make ebay corp back to where it belongs (a penny stock), as for speculation i wanna keep trading in and out but i promised myself to never ever completely sell out of it again.

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