why I sold my bitcoins....

[Piper67]

This post is going to hurt more every day.

+1

It's like the knife in your back twisting in slow motion, no?

[proudhon]

Odds are he'll be able to buy back, if he wants, quite a bit lower than he sold (even if he sold in the 20s).

[phantastisch]

Odds are he'll be able to buy back, if he wants, quite a bit lower than he sold (even if he sold in the 20s).

This guy is always right.

[jwzguy]

This post is going to hurt more every day.

+1

It's like the knife in your back twisting in slow motion, no?

So, I meant the OP, because I've never sold. But I'm guessing the OP has never bought or sold. So the only thing that will hurt is how utterly foolish his post makes him sound, if he's still around to see it getting bumped.

[John (John K.)]

Odds are he'll be able to buy back, if he wants, quite a bit lower than he sold (even if he sold in the 20s).

This guy is always right.

Our permabear is always here to signal another bull race.

[jwzguy]

Odds are he'll be able to buy back, if he wants, quite a bit lower than he sold (even if he sold in the 20s).

This guy is always right.

Our permabear is always here to signal another bull race.

Time to update his foolishness streak again: https://bitcointalk.org/index.php?topic=147907.0

[mccorvic]

Odds are he'll be able to buy back, if he wants, quite a bit lower than he sold (even if he sold in the 20s).

Proudhon has spoken! We will hit $200 within the hour.

[crazy_rabbit]

yeah I sold. At $17. Took me till about $27 to realize I had made a huge fucking mistake and bought back in. THANK GOD I DID.

[mccorvic]

yeah I sold. At $17. Took me till about $27 to realize I had made a huge fucking mistake and bought back in. THANK GOD I DID.

Everyone should remember that it's never to late to buy back in.

[Beta-coiner1]

yeah I sold. At $17. Took me till about $27 to realize I had made a huge fucking mistake and bought back in. THANK GOD I DID.

Individuals following this for years make mistakes like this but man 27 a long realization.

[crazy_rabbit]

yeah I sold. At $17. Took me till about $27 to realize I had made a huge fucking mistake and bought back in. THANK GOD I DID.

Individuals following this for years make mistakes like this but man 27 a long realization.

You would think right? I must have been crazy to wait until $27 to buy back in right? This morning I sold some BTC at $48 thinking I would maybe buy a new camera (can't buy with BTC- need it now, and I'm in Italy). After lunch I check my Bitcoin Price app and it's OVER $60.

Realising one made a mistake in Bitcoin sometimes takes a matter of minutes. :-)

[Peter Lambert]

Looking back in 2015 when 1 BTC = $10k and just beginning to rise fast, this will look flat.

It won't be $10k in 2015 (if ever).

Reasoning:

1) USD won't collapse in this timescale (just yet).
2) Adoption can't explode to those levels since the network won't scale. Even if "ordinary" tx drive SatoshiDice out of the market, we hit the 1M max block size limit at 10x current tx level.

It may well be "stable" $200 to $300 in 2015, if everything goes extremely well.

If bitcoins are ever at the price level of 1 BTC = $10k, they will not be used for gambling microtransactions or small online purchases, they will be used by bankers and gangsters (can you tell the difference?) to hide and move large sums of money.

[BIGMERVE]

If bitcoins are ever at the price level of 1 BTC = $10k, they will not be used for gambling microtransactions or small online purchases, they will be used by bankers and gangsters (can you tell the difference?) to hide and move large sums of money.

Why not both?

[Peter Lambert]

If bitcoins are ever at the price level of 1 BTC = $10k, they will not be used for gambling microtransactions or small online purchases, they will be used by bankers and gangsters (can you tell the difference?) to hide and move large sums of money.

Why not both?

Because of the limited size of blocks, there can only be so many transactions processed per block. Because of the way the transaction fee works it makes sense to send large transactions rather than small ones. This can be mitigated somewhat by increasing the maximum block size, and by lowering the threshold for requiring a fee, but as the value of one bitcoin goes up, the amount of bitcoins in a microtransaction or purchase goes down.
The fees have been lowered in the past, and if the price of bitcoins continues going up they could be lowered again, but if blocks are getting filled up then it does not make sense to lower the fee.

[BIGMERVE]

If there are only big transactions being made there will be less transactions overall. There are far less large transactions than small transactions. Plus cutting out small transactions will hurt the majority of bitcoin users and will cause the price and demand to drop.

[niko]

@OP:  I am assuming you bought or mined the coins at a lower cost than what you sold them for. Good for you. Don't let Captain Hindsights here ruin the joy of profiting.

I am still holding, because - unlike you - I feel the fundamentals are mostly strong and going stronger. My coins, however, are worth nothing untill I actually spend them. Lots of confused folks around don't understand this, and can't tell what is from all the whatifs, shouldhaves, and wouldhaves.

[Odalv]

If bitcoins are ever at the price level of 1 BTC = $10k, they will not be used for gambling microtransactions or small online purchases, they will be used by bankers and gangsters (can you tell the difference?) to hide and move large sums of money.

Why not both?

Because of the limited size of blocks, there can only be so many transactions processed per block. Because of the way the transaction fee works it makes sense to send large transactions rather than small ones. This can be mitigated somewhat by increasing the maximum block size, and by lowering the threshold for requiring a fee, but as the value of one bitcoin goes up, the amount of bitcoins in a microtransaction or purchase goes down.
The fees have been lowered in the past, and if the price of bitcoins continues going up they could be lowered again, but if blocks are getting filled up then it does not make sense to lower the fee.

I'm quite sure there will be new services (they will not use block chain) operating on the top of Bitcoin protocol e.g. local bank (like MtGox is now .. a lot of buys/sells per minute without affecting block chain) where only 1 transaction(per day/week/month) is needed to provide clearing.

[Domrada]

@OP:  I am assuming you bought or mined the coins at a lower cost than what you sold them for. Good for you. Don't let Captain Hindsights here ruin the joy of profiting.

I am still holding, because - unlike you - I feel the fundamentals are mostly strong and going stronger. My coins, however, are worth nothing untill I actually spend them. Lots of confused folks around don't understand this, and can't tell what is from all the whatifs, shouldhaves, and wouldhaves.

By this logic, people like Warren Buffet are broke and powerless, to the extent they are not actually spending their billions.

[evoorhees]

If bitcoins are ever at the price level of 1 BTC = $10k, they will not be used for gambling microtransactions or small online purchases, they will be used by bankers and gangsters (can you tell the difference?) to hide and move large sums of money.

Why not both?

Because of the limited size of blocks, there can only be so many transactions processed per block. Because of the way the transaction fee works it makes sense to send large transactions rather than small ones. This can be mitigated somewhat by increasing the maximum block size, and by lowering the threshold for requiring a fee, but as the value of one bitcoin goes up, the amount of bitcoins in a microtransaction or purchase goes down.
The fees have been lowered in the past, and if the price of bitcoins continues going up they could be lowered again, but if blocks are getting filled up then it does not make sense to lower the fee.

Don't assume that all Bitcoin transactions occur on the blockchain. That is very naive. In the future, the vast majority of transactions will never touch the blockchain. They will be internal transactions between the large successful ewallets.

[Adrian-x]

I am resigning as a moderate bear and taking the position of a moderate bull.
My long-term view is Bullish all the way - that hasten changed,  I still agree with all the bear sentiment, however it isn't working for me right now,  I just sold out 1/3 somewhat below $20 when my return hit 300% thinking I could buy back in,

The bottom line is: if fiat can create a dilution of wealth security, the same dilution backed by Bitcoin is just better.