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Author Topic: $236 - What BS - Selling OUT today!  (Read 7312 times)
doobadoo
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April 09, 2013, 07:16:46 PM
 #1

People, congrats to all who are still holding... im letting my last block go today.  I think this is SO unhealthy for btc.  When this thing roles over its gonna drop dramatically.  It will burn so many newbies.  They will not want to come back.  

A gradual rise, with sensible ups and downs would build the base of users much better.  But THIS?!?!  This is just BS, bad news for adoption.  This will ultimately set us back.  

Any one who thinks its like a singularity or something are just caught up in the euphoria.  Nothing hits adoption like this.  Maybe i'll be proven wrong, but i doubt it.  These new buys understand very little about btc other than its going up fast and they can make quick money.  When it starts to drop they will understand no more about btc as a currency, only that it is dropping and looks like a bubble bursting.

Thoughts?  Did i do right selling out today?  Or will i get run over as this sucker goes straight to $1k.

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Doob

"It is, quite honestly, the biggest challenge to central banking since Andrew Jackson." -evoorhees
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April 09, 2013, 07:17:44 PM
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These threads never backfire.
Crazy
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April 09, 2013, 07:20:12 PM
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If you made a decision stick to it. You can't predict the future. If it goes to $1k you'll be upset. If it crashes to $1, $10, $50, $100, you'll be upset you didn't get out when you felt you should. So just accept it and what will be will be.
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April 09, 2013, 07:20:38 PM
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Chicken Smiley
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April 09, 2013, 07:21:29 PM
 #5

These threads never backfire.

Yep, they never do. We all know they go straight to the bitcoin hall of fame as the most awesome bubble top predictions, like this one here:

https://bitcointalk.org/index.php?topic=144586.0

Almost verbatim reasoning, but that guy was a little quicker to the door. He was out so fast, bubble didn't even had a chance to start. So kudos for waiting couple of months, this topic will be just as funny down the road as the one I linked above is now.

i am satoshi
mccorvic
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April 09, 2013, 07:21:48 PM
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Cool story, OP.

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nwbitcoin
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April 09, 2013, 07:22:10 PM
 #7

Maybe you should put your money into a alt coin before you give up completely?

I would have thought Litecoin can only rally on this news!

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I use Localbitcoins to sell bitcoins for GBP by bank transfer!
Fiery Winds
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April 09, 2013, 07:23:21 PM
 #8

If you made a decision stick to it. You can't predict the future. If it goes to $1k you'll be upset. If it crashes to $1, $10, $50, $100, you'll be upset you didn't get out when you felt you should. So just accept it and what will be will be.

That. It's easy to look back at a chart and wish you'd made a different decision. As they say, a bird in the hand... It's why I'm running a trailing stop, assuring me a sizeable return. If it drops more, I may buy back in, but my principal is not at stake.
wopwop
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April 09, 2013, 07:23:58 PM
 #9

Get out bear noobs

This is bulls only
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April 09, 2013, 07:24:21 PM
 #10

Yep, having enough liquidity for people with real wealth to use it is a horrible, horrible thing for Bitcoin.  It'll be the death of the currency, for sure.
doobadoo
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April 09, 2013, 07:24:29 PM
 #11

These threads never backfire.

Yep, they never do. We all know they go straight to the bitcoin hall of fame as the most awesome bubble top predictions, like this one here:

https://bitcointalk.org/index.php?topic=144586.0

Almost verbatim reasoning, but that guy was a little quicker to the door. He was out so fast, bubble didn't even had a chance to start.

Dude that happened 2 MONTHS ago.  You don't see something wrong with a 10x price increase in 8 weeks?  I've been selling hte whole way up.  Let my first go in the 70s.  Now i'm finishing it up here at $236...

It may go higher.  But hey i'm sitting on such a gain as is,  I am confident i will be able to buy many more coins at lower prices.  Parabolic moves dont continue like this.

And its terrible for btc.  These folks will get burned bad when it drops $100.

"It is, quite honestly, the biggest challenge to central banking since Andrew Jackson." -evoorhees
zoolander
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April 09, 2013, 07:25:14 PM
 #12

People, congrats to all who are still holding... im letting my last block go today.  I think this is SO unhealthy for btc.  When this thing roles over its gonna drop dramatically.  It will burn so many newbies.  They will not want to come back.  

A gradual rise, with sensible ups and downs would build the base of users much better.  But THIS?!?!  This is just BS, bad news for adoption.  This will ultimately set us back.  

Any one who thinks its like a singularity or something are just caught up in the euphoria.  Nothing hits adoption like this.  Maybe i'll be proven wrong, but i doubt it.  These new buys understand very little about btc other than its going up fast and they can make quick money.  When it starts to drop they will understand no more about btc as a currency, only that it is dropping and looks like a bubble bursting.

Thoughts?  Did i do right selling out today?  Or will i get run over as this sucker goes straight to $1k.

--
Doob

I actually worry more about the businesses that might get burnt, rather than speculators who have recently entered the market. A crash could really hurt fledgling startups and scare off Angel/VC money from investing in those companies. That could set things back much further than burning the people looking to make a quick buck.
mccorvic
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April 09, 2013, 07:25:58 PM
 #13

Yep, having enough liquidity for people with real wealth to use it is a horrible, horrible thing for Bitcoin.  It'll be the death of the currency, for sure.

This.  The price is actually in the process of catching up to BTCs potential. 

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April 09, 2013, 07:26:42 PM
 #14

You're wasting your time trying to be reasonable. "Bulls" have 2 months of constant upward momentum to "prove their intelligence." Just let it be, you'll enjoy a higher degree of sanity.
wopwop
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April 09, 2013, 07:27:21 PM
 #15

Yep, having enough liquidity for people with real wealth to use it is a horrible, horrible thing for Bitcoin.  It'll be the death of the currency, for sure.

This.  The price is actually in the process of catching up to BTCs potential. 
This. mccorvic  you are very smart person
deadweasel
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April 09, 2013, 07:27:57 PM
 #16

These threads never backfire.

Yep, they never do. We all know they go straight to the bitcoin hall of fame as the most awesome bubble top predictions, like this one here:

https://bitcointalk.org/index.php?topic=144586.0

Almost verbatim reasoning, but that guy was a little quicker to the door. He was out so fast, bubble didn't even had a chance to start.

Dude that happened 2 MONTHS ago.  You don't see something wrong with a 10x price increase in 8 weeks?  I've been selling hte whole way up.  Let my first go in the 70s.  Now i'm finishing it up here at $236...

It may go higher.  But hey i'm sitting on such a gain as is,  I am confident i will be able to buy many more coins at lower prices.  Parabolic moves dont continue like this.

And its terrible for btc.  These folks will get burned bad when it drops $100.


i won't be burned.  i have realized x3 profit and still have btc in...  plus i didn't buy past $34.

Also, I continue to multiply my btc on CoinBr by trading stocks and options...

So i keep getting more btc everyday, without paying for it.

doobadoo
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April 09, 2013, 07:29:30 PM
 #17

Every one has their price.  Lets see how these bulls feel when they catch a $50 drop.  

I can see what is happening here.  I can see the hoards of newbies.  They are buying up a ton of coins at very high prices.  There aren't enough true believers to sustain these levels.  Maybe $25-$50.  But not $230.

We shall all see.  Mark the thread.  I think we will find out in a few weeks.

"It is, quite honestly, the biggest challenge to central banking since Andrew Jackson." -evoorhees
mrbitbank
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April 09, 2013, 07:29:57 PM
 #18

I took out my original us$500, that I spent on btc in 2011 out recently so what ever happens to the remaining 195btc is fine by me ( plus I took some profit, enough to live on for the next year without having to worry about finding a job) my greatful thanks to those who created btc
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April 09, 2013, 07:30:23 PM
 #19

If you think it's time to realize your gains, do it. Don't look back.

But I'd suggest that you keep a small portion of your BTC. Doesn't matter how much - even a minicoin is enough, just as long as it's something. Just in case.

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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April 09, 2013, 07:31:11 PM
 #20

We shall all see.  Mark the thread.  I think we will find out in a few weeks.


And if it goes up for a few weeks? Will it just be a few more weeks? Are you going to be another Proudhon?
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