I sold everything at $158/159 this morning

[MarKusRomanus]

jjtech, you are spot on!  Low dips should be buying opportunities. if you are going to sell a few once in a while , fine, but keep most of them long term!

[alexh]

Smart move, lots of people didn't and could have made more money in the end.

[Its About Sharing]

To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).

if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159

you just need to look at the naivete of the posts on this board to know this is a sucker rally.

"i'm loaning money to ....."
" I save $200 a month and im putting it all in bitcoins ...... "
"we are revolutionaries......."


good luck to all the future bitcoin millionaires :-)

You may be able to buy in later, but I say the US Dollar and Bond market collapses first (within 6 months). If you treat BTC as a currency/stock you are missing the picture and perhaps the boat.

[jasonjm]

I got filled on my buy order at 70

I still have all the other buy orders open.

I will patiently wait, if they get filled, great, if not, I am happy anyways.

around 70 (10% account) - FILLED
around 50 (20% account)
around 35 (40% account)
around 20 (15% account)
around 10 (15% account)


I highly doubt we have seen a bottom yet.

On this batch of trades I will either hold until bitcoin reaches zero, or has another crazy run again  (this time the high would have to be around $1000 is my guess - maybe the run will happen in 2014 or 2015? who knows).

[yefi]

I will patiently wait, if they get filled, great, if not, I am happy anyways.

You might not have to be all that patient if we get a panicked breakout.

[Falcooon]

Good work!

[jjtech]

jjtech, you are spot on!  Low dips should be buying opportunities. if you are going to sell a few once in a while , fine, but keep most of them long term!

Thank you. I'm glad we're on the same page. BTC has become "hot commodity", a "seasonal good" for scavengers right now. You can easily see that every time it goes down, it's correlated to the increased volume of transactions. Which means speculators are buying and selling for profits in $. This is missing the whole point if we're thinking about something stable long term.
There is only 10 mil + of btc, so it's possible to simply buy them off and keep them, but it's probably impossible to convince people to do that. There seem to be normally around 200-300k transactions in btc exchanges per day. Right now it's more like 700-800k transactions per day (around 21-24 mil/per month!!!!). This means that on avg each btc changes hands twice in a month. It's ridiculous. The rules of mindless Wall Street trading and laveraging were employed to deal with something that was supposed to be a currency of changes, of independence from governments, banks and other diseases of this world. And straight away it's proven to be impossible. There is absolutely no point in btc if it's going to be bootstraped to $. Keeping btc right now would boost not only boost it's "price" but also stabilise it. But I don't believe it will happen. Now it remains to be seen how bad the economy will go and how many countries/banks will decide to steal peoples money directly from their accounts.

I know perfectly that most of the greedy people believe that greed is part of the "human nature", but it's very short sighted. Just as whole our culture is about quick profit and the worse goods are continuously pushing back the better ones, the BTC is subject to the same manipulation and shot-sighteness. The result is always the same - you end up with worse quality, and even worse, you can drown whole idea for a quick buck. Not to mention that stabilising btc and pushing it's value will make people make much more money in a long run.

[romerun]

I don't see it's worth to try to guess when it's gonna crash and rebuy at bottom. We all know that btc is in a long way ride. True that you can double your coin by selling it at 200 and buy back at 100, but you can get the same effect if you buy at 4 instead of at 8 back in the old days. The best thing to do is to dump all you have into what you believe, sail around the world, and comeback in the next 5 years.

[naphto]

I don't see it's worth to try to guess when it's gonna crash and rebuy at bottom. We all know that btc is in a long way ride. True that you can double your coin by selling it at 200 and buy back at 100, but you can get the same effect if you buy at 4 instead of at 8 back in the old days. The best thing to do is to dump all you have into what you believe, sail around the world, and comeback in the next 5 years.

 

[MGWS]

It's back up to $158 but of course it went down to $50 so anyone smart enough to sell and buy back woud have 3x as many btc and 3x as much wealth if you timed it right. 

[Rampion]

It's back up to $158 but of course it went down to $50 so anyone smart enough to sell and buy back woud have 3x as many btc and 3x as much wealth if you timed it right. 

I think that's a little bit of strategy + a little bit of luck. But honestly, nothing to do with "smartness".

[MiningMole]

It's back up to $158 but of course it went down to $50 so anyone smart enough to sell and buy back woud have 3x as many btc and 3x as much wealth if you timed it right. 

I think that's a little bit of strategy + a little bit of luck. But honestly, nothing to do with "smartness".

I think that's a little bit of strategy + a huge load of luck.  FTFY

[anexsia]

I purchased a few bitcoins at $120 a couple of days ago and plan on keeping them. I have a lot more fun swing trading stocks then "day trading" bitcoins.

[sambrose]

There's really no such think as overpriced if you think about it. It's only what the market will bear to pay at an instant in time.

[vasvla]

As difficulty increased, we may expect some higher prices?

[brug14]

Question to those who sell bitcoin, do you really change to fiat and exit from the bitcoin system or do you just try to have a profit?

[yefi]

I don't see BTC crashing long with the world economies direction. I see it as an economic indicator and another Cyprus style event I expect it should rise. However I bought my 6 BTC to spend, not save. But now I am holding them, won't sell.

People have been buying Bitcoins less as an insurance against confiscation and more as a quick and easy way to make fiat profit. And as I see it, the system will not reach equilibrium again until every last person who is in it for the quick profit has given up.

[josiasrdz]

As difficulty increased, we may expect some higher prices?

Yes

[Francesco]

Question to those who sell bitcoin, do you really change to fiat and exit from the bitcoin system or do you just try to have a profit?

I usually withdraw any gain in excess to what I am comfortable investing; but that doesn't happen too often, of course.

[BitshireHashaway]

Best of luck with your BTC purchases lol:). If BTC hit below $30-$40, unless I thought they would continue down for a long time, I would buy quite a few, however, I'm not going to put in a buy offer and wait, I'd rather have the money in my hand and risk missing a quick drop than leave the money in an exchange with my by offer and hope it completes during a quick drop.