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Author Topic: To sell or not to sell (advice needed)  (Read 442 times)
mistermayi
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April 08, 2013, 03:28:41 PM
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Backstory: I originally purchased BTC for use on a certain marketplace that only accepts BTC (don't ask). However, my MtGox account is currently going through verification and my BTC are stuck in purgatory.

So here's my dilemma: if the current trend continues, I could theoretically triple my initial investment by the time I'm able to withdraw my BTC.

As I see it, I have four options once i get access to my BTC:

1) Sell my BTC and hope/wait for the exchange rate per USD to come down to double digits (downside being that there's no way of knowing if it will ever come down that low).

2) Use my BTC to fund my account at the marketplace and buy up as much as I can while my BTC is worth this much.

3) Exchange my BTC for LTC and hope that in a few years LTC goes up high enough that I can sell my LTC and live out the rest of my days in a corrupt third-world country in relative comfort.

4) Sell BTC, take my USD, and run.

For full disclosure, I only have just over 1.5 BTC at MtGox (I'm poor  Sad)

Advice? Thoughts? Verbal abuse? All are appreciated (that last one not so much  Wink)
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BigBitz
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April 08, 2013, 03:31:39 PM
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I am looking to get into BTC and currently started fooling around with GPU Mining and eventually [hopefully] ASIC Mining.

Are you interested to sell your BTC here, or, more directly, to me?

Tips BTC --> 1BS2sYvy3T1cpNhie6CVFMcUrHa84a8mPa <-- Thanks! || Tips [LTC] --> LaytYJNCha7z7zcws5a2o2GWWjvWfDCGkr <--
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April 08, 2013, 03:38:13 PM
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personally id keep hold of them (curently sat on just over 100)every time the price goes up i get richer and richer

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vog
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April 08, 2013, 03:42:08 PM
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My advice is to keep some bitcoin cents so you'll be able to timestamp some of your documents quickly, in case you need it.  Wink  (e.g. via Bitcoinproof or a similar tool)
DeathAndTaxes
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April 08, 2013, 03:44:39 PM
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Sell some and if it goes higher sell more?

My guess is on this unamed marketplace you needed a certain about of USD.  The BTC are now worth more than that USD value.  As an example lets say you need $500 and the BTC is now worth $800.  You could sell $500 worth of BTC as a hedge, then let the remaining BTC ride.  If they go up significantly more you could sell another $250 worth and let the rest ride.
mistermayi
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April 08, 2013, 03:58:09 PM
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Sell some and if it goes higher sell more?

My guess is on this unamed marketplace you needed a certain about of USD.  The BTC are now worth more than that USD value.  As an example lets say you need $500 and the BTC is now worth $800.  You could sell $500 worth of BTC as a hedge, then let the remaining BTC ride.  If they go up significantly more you could sell another $250 worth and let the rest ride.
That's a good idea. Smiley

At the current rate, even a small portion of my still-frozen BTC (thanks a lot MtGox  Tongue) could cover my needs on this marketplace (I only have interest in a few lower-cost items so I'm thinking about $100 should do me good).
miyamoto
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April 08, 2013, 05:25:39 PM
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Unless you need the money, hold them.  Much more fun that way, plus you have lots of room if by some chance they do drop in value. 
mysteriouscockfungus
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April 08, 2013, 05:30:22 PM
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Put half (or more) into LTC and hold the rest in BTC, they both have no where to go but up, especially LTC once people realize its advantages over BTC.
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