Bitcoin Forum
November 17, 2017, 09:40:40 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: When to sell?  (Read 894 times)
miztaziggy
Sr. Member
****
Offline Offline

Activity: 457


View Profile
January 31, 2013, 04:38:20 PM
 #1

I mined 40 BTC over the last couple of years. It was from an Xfire pair of 5870's, though I havent been running them non stop for that time, I stopped mining a while back now when the difficulty got too high and the rewards got halved.

So with the price now reaching over $20 per BTC, im thinking do I either:

Sell now and take my $800?

Risk it and wait for a few months and maybe take $1000 or even a bit more?

Hold them for years, possibly 5-20 years and take the risk that by that time, they are worth in the hundreds of $$ each as people will then be using micro bitcoins or milli bitcoins. They could potentially be worth a lot by then. I suppose they could also be worth nothing by then.....

1510954840
Hero Member
*
Offline Offline

Posts: 1510954840

View Profile Personal Message (Offline)

Ignore
1510954840
Reply with quote  #2

1510954840
Report to moderator
Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1510954840
Hero Member
*
Offline Offline

Posts: 1510954840

View Profile Personal Message (Offline)

Ignore
1510954840
Reply with quote  #2

1510954840
Report to moderator
1510954840
Hero Member
*
Offline Offline

Posts: 1510954840

View Profile Personal Message (Offline)

Ignore
1510954840
Reply with quote  #2

1510954840
Report to moderator
1510954840
Hero Member
*
Offline Offline

Posts: 1510954840

View Profile Personal Message (Offline)

Ignore
1510954840
Reply with quote  #2

1510954840
Report to moderator
deadweasel
Sr. Member
****
Offline Offline

Activity: 364



View Profile
January 31, 2013, 04:44:12 PM
 #2

I mined 40 BTC over the last couple of years. It was from an Xfire pair of 5870's, though I havent been running them non stop for that time, I stopped mining a while back now when the difficulty got too high and the rewards got halved.

So with the price now reaching over $20 per BTC, im thinking do I either:

Sell now and take my $800?

Risk it and wait for a few months and maybe take $1000 or even a bit more?

Hold them for years, possibly 5-20 years and take the risk that by that time, they are worth in the hundreds of $$ each as people will then be using micro bitcoins or milli bitcoins. They could potentially be worth a lot by then. I suppose they could also be worth nothing by then.....



They cost you nothing.  Hold.  Hold. Hold.  Could easily be $32 by the end of the year.  Not likely to permanently be worth nothing.

wormbog
Hero Member
*****
Offline Offline

Activity: 561



View Profile
January 31, 2013, 04:59:28 PM
 #3

Hypothetically, if you had no bitcoins now but had $800 in free cash, would you buy 40 bitcoins?

If not, consider selling a few now.
debianlinux
Full Member
***
Offline Offline

Activity: 221


View Profile
January 31, 2013, 05:13:17 PM
 #4

Do you need or have good reason to want $800 in cash?
If so, move into cash. Otherwise, what is the incentive?
If you just want to sell to get the satisfaction of holding USD for your mining efforts then consider not selling out completely and also consider how quickly the USD continues to depreciate against all other commodities and many currencies (namely btc).

tl;dr:
If you needed $800 to make repairs or pay off a debt I think you would be dumb to hang onto the btc. If you just want cash for the sake of having cash then I, personally, find that to be dumb with reasons.
piramida
Legendary
*
Offline Offline

Activity: 1120



View Profile
January 31, 2013, 05:20:31 PM
 #5

here's an advice - sell a half now of you really want to see some fiat money that you mined, and forget about the rest for a year or two (or until you want to buy something with coins).

as for when to sell that first half, well, as soon as everybody is convinced that it will grow indefinitely. not earlier than 30$, it would go there in February, and nobody knows when exactly will it "correct" after that.

i am satoshi
evolve
Hero Member
*****
Offline Offline

Activity: 700


daytrader/superhero


View Profile
January 31, 2013, 08:26:32 PM
 #6

I'd sell soon, and wait for the crash;  You can buy back in at cheaper price when the dust settles if you want to "double down" on BTC.


Thats what I'm doing.

Comodore
Full Member
***
Offline Offline

Activity: 159


View Profile
January 31, 2013, 09:11:02 PM
 #7

The question is rather what will be USD worth than BTC.
zoinky
Hero Member
*****
Offline Offline

Activity: 808


Web Developer


View Profile
January 31, 2013, 09:12:30 PM
 #8

Don't get caught in the trap.
firefop
Sr. Member
****
Offline Offline

Activity: 420


View Profile
January 31, 2013, 09:18:55 PM
 #9

It depends on how active you want to be with bitcoins.

If you plan on continuing to mine... then I'd advise you to sell them now and use that money to purchase an ASIC product as soon as anyone ships one.

If you'd rather not mine and are thinking of your bitcoins as an investment, then your best move is to forget about them for months or years, on a long enough timeline they'll do nothing but increase (at least for the next 4 years).

If you'd like to speculate and as someone else said "doubledown on bitcoin"... sell half right now, then re-evaluate every week or so until you start to see indications of a price dip... then dump whatever you have left... if you wait for the big crash that follow asic release, you'll have a chance to buy quite a few more bitcoins at ~25% of the price if you time it correctly.


Comodore
Full Member
***
Offline Offline

Activity: 159


View Profile
January 31, 2013, 09:20:11 PM
 #10

Don't get caught in the trap.
What trap do you think about?
vokain
Legendary
*
Offline Offline

Activity: 1736


View Profile
January 31, 2013, 09:20:22 PM
 #11

I mined 40 BTC over the last couple of years. It was from an Xfire pair of 5870's, though I havent been running them non stop for that time, I stopped mining a while back now when the difficulty got too high and the rewards got halved.



They cost you nothing.  Hold.  Hold. Hold.  Could easily be $32 by the end of the year.  Not likely to permanently be worth nothing.

Since the reward is halved, what do you think will happen to new supply? As a result, what do you think will happen to prices, via the classic supply vs demand curve? Corrections take time, my friend.

         ▄█▄  ▄▄▄▄
          ▀ ▄██████▄
    ▄▄▄   ▄███▀▀███
  ▄█████▄ ▀█▀ ███▄ ▀▀
 ███▀  ▀██▄    ████▄   
 █▀ ▄██▄ ▀█▀ ▄██▀ ▀█▀ ▄██
  ▄██▀     ▄██▀     ▄██▀
 ██▀ ▄█▄ ▄██▀ ▄█▄  ██▀ ▄▄
      ▀███▀    ▀██▄  ▄██▀
     ▄▄ ▀██▄ ▄█▄ ▀█████▀
     ███▄▄██▀   ▀▀
      ▀██████▀
        ▀▀▀▀   ██▀

  █
  █
  █
████
  █
████
  █
████
  █
  █
  █


▄███▄    ▄███▄
███  ██▄ █▀▀▄
████████  ███▀
██▀ ▄███       
████████▄▄  ▄█▀
 ██████▀▀██▀▀
  ▀███▀▄▄   ▄
   ▀██▄██ ▄█▀
     ▀▀██▀▀
FULLY
ANONYMOUS

━━━━━
/

    ██▄▄              ▄▄██
   █▀  ▀█▄ ▄▄▄▄████▄██▀  ▀█
  █▀   ▄███▀▀▀       █▄   ▀█
 █▀   ▄███▄ ▄▄█▄▄     █▄   ▀█
██▄  ▄████████████▄▄  █▄  ▄██
  ▀▀██▀███████████████▄███▀▀
      ▀█▄█▀███████████▀▀
        ▀███▀███████▀
           ▀▀▀▀██▀▀
INSTANT
TRANSFER

━━━━
/

     ▄████▄
 ▄▄▄████████▄▄▄
▄██████████████▄
▀██▀ ▀█  ▀█ ███▀
 ██ ▀ █ ▀▄█ ███
▄██▄█▄█▄███▄███▄
▀██████████████▀
 ▀▀▀████████▀▀▀
     ▀████▀
API FOR YOUR
PROJECTS

━━━━

  █
  █
  █
████
  █
████
  █
████
  █
  █
  █
PARTNER PROGRAM
TOR MIRROR
MIX WALLET
.FAQ
ANN THREAD
TELEGRAM
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!