Bubble! I've just sold!!

[flaab]

Why anyone would bother replying to these threads is beyond me.

OP might have sold as little as 10 btc for all we know.

OP sold over 500btc at 48.5 for a 400% return.
And now it's crashing!!!! 43 already!!! Go for 15!!! GO GO GO!

[flaab]

why anyone would sell bitcoins to buy gold or silver i have no idea.

Well, because gold and silver, unlike bitcoin, are money. Bitcoin is electronic and convenient cash, but it is not money. Don't get me wrong, I'm all in for competitive currencies and certainly fiat currencies are a big dump. However, bitcoin cannot be regarded as money: it does not have intrinsic value and needs manteinance.

So, I sell the overbought asset and buy the oversold. It works :-)

[flaab]

Small profit taking. Nothing to fear. Actually I bought more today. It will break $50 no doubt so I'm nto concerned.

You sound just like http://en.wikipedia.org/wiki/Tulip_mania. I have been a speculator for several years and I have a good track record. And there is something I've learnt, let someone else earn the last penny :-) I don't care if bitcoin blow-off top is 60. I made a very good profit, obtained more dry-powder to invest and I'm going again to find oversold assets.

[creativex]

Some crash, the exchange rate is still higher that it was just 12hrs ago.

[axus]

I don't. I am using most of it to purchase a real estate property and fund future's contracts.

I also bought phyisical gold and silver. I had a load of bitcoins!

Congratulations!  What price did you buy in on?  What was your selling strategy?  One big order on Mt.Gox?

[flaab]

Gold doesn't have intrinsic value to humans either.

It does. Would you say alluminum has intrinsic value? I'd say it has, because it is used build airplanes.
Would you say copper has intrinsic value? It has, because it is used to built circuits.
Gold and Silver have intrinsic value because it has unique phyisical properties which make it the perfect money.

You wouldn't make airplanes with iron because it is too heavy.
You wouldn't make circuits with lead because it is not conductor.
You wouldn't make money with anything else than gold and silver, because it will rot over time or need manteinance.

http://www.pointzero-trading.com/Blog/view/1

[flaab]

Congratulations!  What price did you buy in on?  What was your selling strategy?  One big order on Mt.Gox?

At about 13. I sold at 48,5. I don't care missing the top, I had other investments to fund.
And I'm warning!! The price is VERTICAL. That can't go on forever, but who knows how will the blow-off top be.

[Puppet]

Im selling too. Im going to keep half my btc for a few years no matter what, the other half is mostly sold now as I do expect a major correction. If Im wrong, then thats good news for my remaining half.  Cant lose either way.

[axus]

Congratulations!  What price did you buy in on?  What was your selling strategy?  One big order on Mt.Gox?

At about 13. I sold at 48,5. I don't care missing the top, I had other investments to fund.
And I'm warning!! The price is VERTICAL. That can't go on forever, but who knows how will the blow-off top be.

I only had like 5 bitcoins which I bought at $20 during the last bubble (I was trying to buy them at 10, but deposits took forever back then!), I did sell one at $40 in case of another price drop.  It's obviously in bubble mode now, but it's completely up in the air how high it will go, and how far back down it will fall.

If you look at http://www.blockchained.com/depth_mtgox.png, the bubble only crashes when selling volume outstrips demand (obviously).  The demand is way higher than the supply right now, so in theory the bubble has a lot more to go.

[flaab]

Back down to 43! LOL. What did you expect after a 30% surge in three days?

[flaab]

Err...back to 39. I sold at the very right time!!! Can't wait to get them back at 10USD.

[gmiwenht]

[deleted]

[gmiwenht]

[deleted]

[flaab]

I sold all my coins at 36

PROTIP: That means the crash will stop at 37.

PS I hate you all.

I missed out on a $10 spread because I wasn't gready enough. And it's not like it lasted 2 mins either. Plenty of time to sell at 48, and even my mom could have seen it coming. Congrats to everyone that did.

I did at 48.5 :-) CRASH! SELL SELL SELL! Bitcoin can remain bullish in the 15-20usd range.

[Timep34]

Absolutely crazy swings with a high of $49 and a low of $38 so far today

[gmiwenht]

[deleted]

[flaab]

Anyone that doesn't sell now is a retard IMO. There's a time for fundamentals and there's a time for common sense. Bitcoin is heading for the stars but not overnight. The bearish bulls shall rule in the meantime! Panic is spreading. See you at 15 where it belongs.

As a technical trader, I completely agree with you. Bitcoin has its page in the future, but not tomorrow.

[TheN33k]

Anyone that doesn't sell now is a retard IMO. There's a time for fundamentals and there's a time for common sense. Bitcoin is heading for the stars but not overnight. The bearish bulls shall rule in the meantime! Panic is spreading. See you at 15 where it belongs.

Completely agree, I sold all (3) of my bitcoins at $46.50, made a nice profit.

I can't believe the amount of people I have seen calling those who sold at ~45 idiots..Anybody who is in denial about this being a bubble is an idiot. Bubbles happen, especially with such a new, unestablished currency.

[flaab]

Anyone that doesn't sell now is a retard IMO. There's a time for fundamentals and there's a time for common sense. Bitcoin is heading for the stars but not overnight. The bearish bulls shall rule in the meantime! Panic is spreading. See you at 15 where it belongs.

Completely agree, I sold all (3) of my bitcoins at $46.50, made a nice profit.

I can't believe the amount of people I have seen calling those who sold at ~45 idiots..Anybody who is in denial about this being a bubble is an idiot. Bubbles happen, especially with such a new, unestablished currency.

Me too! I can't wait to get them back at 15usd.

[axus]

I have a buy order at $22