Poll: At what price does the rapid rise make you nervous/sell in the next month?

[BitcoinTate]

So I have been seeing a lot of negative talk from bitter people who sold early on. So I posted this on another thread:

Now that's the kind of sentiment that prevails right before the bubble bursts. Every time.

Guess what? People been saying this since like, $15.  Deal with it.

Sure, people are saying and other people aren't listening. Euphoria has turned them deaf, blind and stupid. And very soon they will pay the "stupidity tax", especially those who went all in.

Sounds like you have paid the 'stupidity tax' not me. If Bitcoin dropped 96% today I'd be at breakeven and Litecoin has to drop 99.5%

The only "stupidy tax" being paid will be those that didn't go all in and have since sold. I saw the potential and went all in at $27. So far the best decision of my life! And why do people not get that you can not compare Bitcoin to anything that has ever existed. The most similar thing you could compare it to would be the adoption rate for the Internet, Google or Facebook.

History will be written like this: First there was the Internet which gave people the freedom to share knowledge, then Google organized the internet so others could quickly find it, then Facebook connected people on an daily basis within their entire social network and finally Bitcoin freed people financially from the rule of corrupt banksters!

I can see the future 60 minutes/ Dateline interview title. "Alarming suicide rate amongst early adopters of Bitcoin that sold too early." I am seeing a lot of negative "you are all stupid" for not selling posts. Obviously people are bitter that they sold too early. Do yourself a favor and buy back in while you still can!!! ..... ok I am done venting now

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[tutkarz]

the price will probably drop a little when there will be valid reason for this. I dont understand why price should drop without reason and only because some panic people *think* that it should do this already. It seems that alot of them have too weak imagination to understand how many money is on the market and how little amount of bitcoin is comparing to that. Bitcoin price is supposed to be very high by design.

[crazy_rabbit]

please, please, please, someone slow the train down!

[humanitee]

Not selling, not nervous either. The amount of fiat flowing into this beast is staggering.
Just keep using some portion of your coin, you'll be safer due to enhancing the economy. Gonna buy at least another 1, gotta buy a router.

[BitcoinTate]

please, please, please, someone slow the train down!

Lol! Ever heard "Crazy Train" by Ozzy Osbourne? Is that how you are feeling right now? lol!

"All aboard!!!"

http://www.youtube.com/watch?v=otdHbA4GlSI

[sgbett]

When it reaches a $1million per coin, I will have lost 100's of millions in potential profits. suicide worthy?

Well, I think the tens of millions worth of BTC that I will still have will soothe the pain, as well as the millions that I took out on the way there...

What if it goes to $999,999 then fails catastrophically? What's your exit strategy? At that point I'll be millions richer.

Do you even know what risk is?

[Shermo]

Gotta admit I wish it would slow down a little as its freeking me out, I invested with the hopes of making a nice 10-20 % on my savings over the next year... since then it's gone up nearly 100% which is nice, but not if it hits rock bottom later!

[BitcoinTate]

We are are well on our way now to $1,000,000.00

[tutkarz]

Gotta admit I wish it would slow down a little as its freeking me out, I invested with the hopes of making a nice 10-20 % on my savings over the next year... since then it's gone up nearly 100% which is nice, but not if it hits rock bottom later!

When people understand bitcoin by its very nature is supposed to be expensive, because we will be using satoshis and not full bitcoin later?
And if somebody want to enter the train then they would have to do this quick because it is very fast moving. This doesnt mean it will crash.
That is why im really supriced people are selling that cheap as $100 or now $200. They will regret this.

[BitcoinTate]

When it reaches a $1million per coin, I will have lost 100's of millions in potential profits. suicide worthy?

Well, I think the tens of millions worth of BTC that I will still have will soothe the pain, as well as the millions that I took out on the way there...

What if it goes to $999,999 then fails catastrophically? What's your exit strategy? At that point I'll be millions richer.

Do you even know what risk is?

If it hits $999,999 I will have cashed a few out by then. lol!

Yes I went all in and I realize I could lose it all. But I did not go into debt to buy BTC nor would I be completely broke at this point if it went to $0 (new contracts). And as far as risk goes, in my opinion the only true "security" and absolute "risk management" plan you will ever achieve is when your "6 ft' under and horizontal."

Life is to short not to take some chances.

[ruski]

Life is to short not to take some chances.

Amen.

[Rygon]

No one ever went broke taking profits. 

[Zangelbert Bingledack]

Holding but will be nervous if we go toward $1000 and will diversify a small percent of BTC.

Everyone should have a diversification plan. When you reach $1 million net worth, will you really keep ALL your money in BTC? Think about what percent you will diversify out on the way up, based on the famous Bitcoin assymetric bet (Hudreds of thousands of dollars per coin or more vs. $0).

For example, taking out 20% of your BTC at each order of magnitude increase and putting them into other assets might make sense.

Example: You invested $10,000. When you reach $100,000 you sell $20,000 worth and keep the rest. When the rest reaches $1,000,000 you sell $200,000 and keep the rest. Etc. Seems well balanced given the risks, and you will still be filthy rich if Bitcoin succeeds.

For some people 10% will make sense, for some 5%, and for some 30-50% might even make sense (such as anon_bitcoin_gambler on reddit).

[BitcoinTate]

Holding but will be nervous if we go toward $1000 and will diversify a small percent of BTC.

Everyone should have a diversification plan. When you reach $1 million net worth, will you really keep ALL your money in BTC? Think about what percent you will diversify out on the way up, based on the famous Bitcoin assymetric bet (Hudreds of thousands of dollars per coin or more vs. $0).

For example, taking out 20% of your BTC at each order of magnitude increase and putting them into other assets might make sense.

Example: You invested $10,000. When you reach $100,000 you sell $20,000 worth and keep the rest. When the rest reaches $1,000,000 you sell $200,000 and keep the rest. Etc. Seems well balanced given the risks, and you will still be filthy rich if Bitcoin succeeds.

And you trust central banks not to confiscate your money either through direct acquisition or through "quantitative easing"??

[zoolander]

History will be written like this: First there was the Internet which gave people the freedom to share knowledge, then Google organized the internet so others could quickly find it, then Facebook connected people on an daily basis within their entire social network and finally Bitcoin freed people financially from the rule of corrupt banksters!

Google was not the first search engine.

Facebook was not the first social network.

[Comodore]

please, please, please, someone slow the train down!

I´d like to slow your internet(s)

[sgbett]

What is the difference between being worth $1m and deciding to invest it all in BTC, and having a $1m of BTC and no other assets.

Would you tell somebody worth $1m to invest it all in BTC?

If so "I have business proposition for you ..."  

[Zangelbert Bingledack]

Who said anything about banks? Gold, silver, oil, food, land, businesses, or whatever. It's simple: Bitcoin has a substantial chance of going to $0. You can very easily arrange other assets so that they do not have a substantial chance of falling very much at all. Even dollars in a wobbly bank + BTC, which is just about the worst possible diversification strategy, is nevertheless much safer than only BTC.

Diversification doesn't make you money, but it does help lock in your newfound wealth. This shouldn't be controversial as it's merely basic statistics that if you have $10 million and spread the risk around it reduces the chance you will ever not be a millionaire anymore. To me the value of being a millionaire is not that much less than being a billionaire. I'd much rather be a millionaire than have to wonder whether I will be a billionaire *OR* have to return to a normal middle-class existence. YMMV, and your diversification strategy should vary accordingly. Let's not get all ridiculous here.

Besides, if Bitcoin succeeds in reaching full mainstream adoption you can probably still be a billionaire even if you diversify on the way up. If you really believe in the potential, one bitcoin should be enough to ensure a lavish lifestyle in the scenario where Bitcoin succeeds.

[BitcoinTate]

History will be written like this: First there was the Internet which gave people the freedom to share knowledge, then Google organized the internet so others could quickly find it, then Facebook connected people on an daily basis within their entire social network and finally Bitcoin freed people financially from the rule of corrupt banksters!

Google was not the first search engine.

Facebook was not the first social network.

Never said they where, only said the internet was first. They are the ones history will remember. Just as Bitcoin was not the first virtual currency. But it will be the one that goes down in the annals of history.

[BitcoinTate]

What is the difference between being worth $1m and deciding to invest it all in BTC, and having a $1m of BTC and no other assets.

Would you tell somebody worth $1m to invest it all in BTC?

If so "I have business proposition for you ..."  

lol! Name another investment that has performed as well as BTC in the past three months? So yes, yes I would!