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Question: When the price of Bitcoin rapidly drops I...
SELL!!!, take my fiat profits and laugh all the way to the bank. - 11 (4.4%)
Sell, hoping to buy back in at a lower price. - 20 (8.1%)
Yawn, keep calm, and carry on. I'm in this for the long haul. - 122 (49.2%)
Buy, thankful I kept some $ in my account for just this occasion. - 51 (20.6%)
BUY!!!, sell your wife, sell your kids, mortgage your house, IT's ON SALE! - 28 (11.3%)
Search for a window to jump out of. - 16 (6.5%)
Total Voters: 248

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lukestokes
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March 23, 2013, 03:37:04 PM
 #1

What's your "plan" and why?

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March 23, 2013, 03:40:49 PM
 #2

Laugh at people selling for cheap. That's all.

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March 23, 2013, 03:42:38 PM
 #3

When I think the price rises too fast I sell a certain amount of Bitcoin and wait for a crash, then re-buy. I sold some at $60 and watched in horror as they almost hit $75.

Its all good though, bought back at $53.

Most of my coins come from the $11 - $23 days.

I'm not sure if I'll try guessing the market again, I don't think the gains I made was worth the stress. Also it was luck that I loaded up MtGox on my mobile whilst out at the shopping center because by the time I got home it had already corrected.
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March 23, 2013, 03:44:34 PM
 #4

If drop is out of my picture AND It breaks picture

Then i will not sell at first wave down. Will wait for a bounce. Sudden drop = sudden bounce.
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March 23, 2013, 03:45:28 PM
 #5

I am looking for the window. The reason is not because my tiny holdings are loosing value, but because I am to poor (as a student) to be able to afford to buy more, even at those low valleys.

I am an evangelical missionary heading to China. Donations are welcome here (dedicated wallet): 1H8iswayfTaRb6oe2WjMCRmchBJHYyfx9z
You can find more information about my plans here: http://btcmission.com
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March 23, 2013, 03:46:51 PM
 #6

I  Cheesy Shocked Roll Eyes Grin Tongue usually.  I get neither nervous or elated.  Super fun!
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March 23, 2013, 03:49:00 PM
 #7

I hold.

I tried to play the "sell then buy at bottom game" before in 2011 and 2012, but either I can't get the timing right or the gox lag screws me, so I gave up Cheesy

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March 23, 2013, 04:02:13 PM
 #8

Buy. Just like I sell when the price goes up.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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March 23, 2013, 04:07:07 PM
 #9

Sell low - buy high (good guy trader)
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March 23, 2013, 04:10:18 PM
 #10

...wait for it to drop even lower.  Seriously, look at the charts.  We're headed much, much lower.  Optimistically we'll stop in the teens, but we could easily go into the single digits again.
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March 23, 2013, 04:12:18 PM
 #11

...wait for it to drop even lower.  Seriously, look at the charts.  We're headed much, much lower.  Optimistically we'll stop in the teens, but we could easily go into the single digits again.

I love you so much, China needs someone like you to bluff.

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lukestokes
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March 23, 2013, 04:12:53 PM
 #12

...wait for it to drop even lower.  Seriously, look at the charts.  We're headed much, much lower.  Optimistically we'll stop in the teens, but we could easily go into the single digits again.

Can you be more specific? Link me to a chart you're talking about?

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March 23, 2013, 04:13:51 PM
 #13

Tilt your head to the right. The poll chart is showing you the finger.

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March 23, 2013, 04:21:14 PM
 #14

...wait for it to drop even lower.  Seriously, look at the charts.  We're headed much, much lower.  Optimistically we'll stop in the teens, but we could easily go into the single digits again.

Can you be more specific? Link me to a chart you're talking about?

You have just met Proudhon, our resident perma-bear. 
He has thus far had an uncanny track record of predicting bitcoin prices, as long as you reverse everything he says.
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March 23, 2013, 08:33:30 PM
 #15

...wait for it to drop even lower.  Seriously, look at the charts.  We're headed much, much lower.  Optimistically we'll stop in the teens, but we could easily go into the single digits again.

Aren't we supposed to see single digits next month? Remember your call?

So what happens if you are wrong again? Backpedal?

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chrsjrcj
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March 23, 2013, 09:59:52 PM
 #16

Get a little nervous, but remind myself that the market needs to catch its breath occasionally.
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March 23, 2013, 10:06:34 PM
 #17

...buy a little more than my regular budget.  I just buy and hold and spend.  I'm boring.

Dankedan: price seems low, time to sell I think...
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March 24, 2013, 03:12:42 AM
 #18

I have yet to try the whole sell high, buy low thing. Maybe that's because I'm more interested in Bitcoin as a technology solution than as a "single stock" speculative game. The few times I've run the numbers of timing it "perfectly" only equalled an extra coin or two. The risk of missing it seems too high, IMO, especially when my goals are to see this disruptive technology change how commerce is done. Being left with some $$$ and having to buy back in at a higher price would suck.

Based on this poll, it seems others think along the same lines as I do.

Lets just hope we won't be stuck with a bunch of digital "coins" with little worth if our disruptive technology simply turns out to be another fad like beanie babies, MySpace or RSS.

(OK, that last comment about RSS was kind of trollish, but you probably smiled)

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March 24, 2013, 03:20:53 AM
 #19

I have yet to try the whole sell high, buy low thing. Maybe that's because I'm more interested in Bitcoin as a technology solution than as a "single stock" speculative game. The few times I've run the numbers of timing it "perfectly" only equalled an extra coin or two. The risk of missing it seems too high, IMO, especially when my goals are to see this disruptive technology change how commerce is done. Being left with some $$$ and having to buy back in at a higher price would suck.

Based on this poll, it seems others think along the same lines as I do.

Lets just hope we won't be stuck with a bunch of digital "coins" with little worth if our disruptive technology simply turns out to be another fad like beanie babies, MySpace or RSS.

(OK, that last comment about RSS was kind of trollish, but you probably smiled)

If you tried to sell high, buy low, most likely outcome is sell high, buy higher.
Anyone who has read the Bitcoin whitepaper knows that this is very, very different from beanie babies! Smiley
Something that is this well-engineered and intricate can't be a fad.

(BFL)^2 < 0
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March 24, 2013, 04:03:24 AM
 #20

I have yet to try the whole sell high, buy low thing. Maybe that's because I'm more interested in Bitcoin as a technology solution than as a "single stock" speculative game. The few times I've run the numbers of timing it "perfectly" only equalled an extra coin or two. The risk of missing it seems too high, IMO, especially when my goals are to see this disruptive technology change how commerce is done. Being left with some $$$ and having to buy back in at a higher price would suck.

Based on this poll, it seems others think along the same lines as I do.

Lets just hope we won't be stuck with a bunch of digital "coins" with little worth if our disruptive technology simply turns out to be another fad like beanie babies, MySpace or RSS.

(OK, that last comment about RSS was kind of trollish, but you probably smiled)

I am trying the trading game a bit, but honestly, buying and holding (when buying at a good time obviously) is probably much more efficient since you don't have to spend all the time looking at the charts (which I find entertaining ).
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