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Author Topic: $236 - What BS - Selling OUT today!  (Read 7318 times)
Vandroiy
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April 09, 2013, 11:04:37 PM
 #61

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?

Being a bear at 2$ and being a bear at 200$ does not give equal chances. No matter how much people like logscales.
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Sitarow
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April 09, 2013, 11:39:35 PM
 #62

I doubt many new people actually give a damn about bitcoin itself at this point, just that it is gaining popularity and thus price rise. They won't even download the wallet client, just keep it in MtGox Smiley

Uh-huh?  And should any one in their right mind let mt gox hold their coin?  Shouldn't they tx it to a wallet and back it up?  

Its sounding a lot like what happened b4.

Besides, if btc really went to a few thousand each, governments would all take notice and shutdown the exchanges and seize their assets.  The btc in that xchange probably either goes the way of the dodo or is stolen by a corrupt government agent.

There is no way this thing can take off like people are talking about.  A gradual growth in the user base is the best way.  REAL goods being bough and sold for it is best.  This is a disaster.  not a good thing.

but no one really cares about what btc can do for humanity.  only what it can do for their net worth.  if you care about the true goals of the project you are not happy about the rise.  As i'm not, and i made a lot on this rally.  I'd rather it not happened like this.

Waiting for the crash....

Then don't use it as a store of wealth, and or speculation on future returns.

If you use it for trade then $300 or $ makes no diff.

What we need is to have less spread and more volume then we can expect more merchants jumping in.
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April 09, 2013, 11:55:31 PM
 #63

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.

QTF. I was going a bit mental myself going around various forums saying 'can't you see? can't you see?', and now I realize I came across as the crazy bag lady wearing only one shoe.

Smiley

Let it go. What will happen, will happen.
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April 10, 2013, 12:25:04 AM
 #64

I can't understand why anyone would ever sell out completely. If you think it's a bubble sell a few of your coins here and there or better yet buy something with them. Even if it's a more time tested proven store of value that's not denominated in fiat...ie gold and silver.

Fiat is garbage, the only good reason to exchange your precious cryptos for fiat garbage is if you have to pay bills/eat.

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April 10, 2013, 12:31:55 AM
 #65

Don't let the door hit ya on the way out.

I'm hanging on to be a millionaire!
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April 10, 2013, 12:38:07 AM
 #66

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.

+1 I cashed out enough to pay any debts I might have and my rent for the near future. The rest- I'm holding forever.

more or less retired.
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April 10, 2013, 12:49:47 AM
 #67

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.

+1 I cashed out enough to pay any debts I might have and my rent for the near future. The rest- I'm holding forever.

Same, cashed out enough to pay stuff off, and left the rest alone.
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April 10, 2013, 02:30:29 AM
 #68

Well, i guess the thing that I like about this thread is that it shows us a Bear paradigm shift. We are shifting from the old-school Proudhon-esque modus operandi of constantly calling tops and crashes "just another week... just another week..." constantly claiming bitcoin's a bubble, has no real use, is a ponzi scheme, etc.

Now the bears have undergone a perspective shift, it's "Bitcoin is great, revolutionary, sure, fiat sucks, I understand basic economics and theories of exchange of value now... BUT, it's going up too FAST, if it were just going up a little bit slower, I'd be more bullish. In fact, it has to go up at just the right speed. Too slow and I won't be interested in its revolutionary properties, too fast and I'll call it a bubble."

So it's like Goldilocks and the three bears. One bear has a normal graph with what appears to be the first half of a parabola (the kind of graph that scares proudhon), one is of a log graph, and one bear is in the corner hanging by a rope b/c lost all their bitcoins shorting @ 30 "It's going up too fast!"

So, we should be proud: Our bears are evolving!

By the way, lines on graphs 101 for all you paradigm-shifting bears: lines on graphs that go up don't have to (a) keep going up unsustainably, or (b) turn in the opposite direction. This is a false dichotomy / false choice fallacy. They can level out at a nice even range with minimal volatility once adoption + realized application is sufficient.
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April 10, 2013, 02:33:19 AM
 #69

lines on graphs that go up don't have to (a) keep going up unsustainably, or (b) turn in the opposite direction. This is a false dichotomy / false choice fallacy. They can level out at a nice even range with minimal volatility once adoption + realized application is sufficient.
+1

Do as thou wilt shall be the whole of the law.
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April 10, 2013, 02:55:54 AM
 #70

If you made a profit, then you did right to sell. If it goes up or down from here it's not your concern, you're already on top
Logik
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April 10, 2013, 03:38:27 AM
 #71

I sold enough to break even of what I initially paid. Maximum fiat loss = $0.

Even if 'fiat is trash' a loss is still a loss, no matter what unit of value that its denominated in, so it's nice to remove the risk..

Now if only my SDICE shares would stop tanking Sad



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PachucoBro
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April 10, 2013, 03:53:35 AM
 #72

BitCoin has brought out a TON of newbie to the world of stock/commodity investing and/or Currency investing (FOREX). Add to that the fact that BitCoin is neither of the two and therefore doesn't act or move like the above.

Why sell out ALL of your BitCoins?
Because if you think the price is going to drop you want ALL your money out to buy later on. Why would you keep a couple??? These aren't Comic books or baseball cards... they aren't going to get more valuable with age. If the price falls sell out soon as you are happy with the returns you will get. Holding on to them all the way to a bottom that is $200 lower than it is now is completely stupid EVEN if you think they will be worth $1,000 a month from now.

There is no way 'All these Noobs' are going to get wiped out
Well the people who jump in a day or two before BTC all of a sudden take a jump all the way to $35 again might get wiped out if they don't have a mobile app or something and keeping their eyes open. The guys who got in at $180 or less for sure won't get 'wiped out'... why? because they are watching the action and will prolly start trying to sell as well and if they don't well then they need to hold on to those BTC cause as I stated above they would NOT be happy with the return and would have to hope that BTC will return or go to $1,000 in the future.

The best thing about BitCoin... which is very cool and important compared to some other investment options (no pun intended) is you can only lose what you put in... you can't go negative or owe more. So only invest what you can afford to lose. People buying BTC on credit cards or loans etc should be willing to pay out those loans if BTC go far below what they purchased them for.


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April 10, 2013, 04:07:48 AM
 #73

I will buy all your BTC for $50 a pop right now if your so convinced that's the long term price!

Lol, hope you can realize what a stupid post that was.

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bitbit
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April 10, 2013, 04:12:13 AM
 #74

Get out with 50% Wink
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April 10, 2013, 06:05:32 AM
 #75

Wow. If being Bitcoin rich makes you act like a twat like this bloke, I'm cashing out and giving my profits to charity.

Have you done the same with your USD then? Too much douchebags rich with the dollar Wink

i am satoshi
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April 10, 2013, 06:18:56 AM
 #76

I also got a client yesterday. He was in a hurry, he wanted to cash out of bitcoin for euros and do it same day and I offered him spot-5%.

He came, I stuffed EUR 10,000 in his hand and he sent me BTC64.

As we were waiting for the tx to confirm, he explained that he had bought the bitcoins some time ago with EUR 500.

Now as the price had risen so quickly, he wanted to ride the freebies. So he cashed out a part of the bitcoins for EUR 9,500 profit.

Now, read the above sentence again. A part.

Never sell out.

You know, buying is less risky than selling. If you buy, you can lose at most 100% of your investment. Every time you sell, you are missing out of potentially infinite future gains, and I know of cases that people have become mad over losing that much money.

-----

To preserve the anonymity of my clients, I have altered the details.
Zaih
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April 10, 2013, 06:21:29 AM
 #77

Someone wants the price to fall so they can rebuy in Wink
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April 10, 2013, 06:33:11 AM
 #78

Someone wants the price to fall so they can rebuy in Wink

Doesn't every bear?

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April 10, 2013, 07:06:26 AM
 #79

I also got a client yesterday. He was in a hurry, he wanted to cash out of bitcoin for euros and do it same day and I offered him spot-5%.

He came, I stuffed EUR 10,000 in his hand and he sent me BTC64.

As we were waiting for the tx to confirm, he explained that he had bought the bitcoins some time ago with EUR 500.

Now as the price had risen so quickly, he wanted to ride the freebies. So he cashed out a part of the bitcoins for EUR 9,500 profit.

Now, read the above sentence again. A part.

Never sell out.

You know, buying is less risky than selling. If you buy, you can lose at most 100% of your investment. Every time you sell, you are missing out of potentially infinite future gains, and I know of cases that people have become mad over losing that much money.

-----

To preserve the anonymity of my clients, I have altered the details.

This is an important note. We have to keep cashing out to keep the economy growing. While some people may be loading up their positions, many of the people who buy your coins will be first time purchasers. We need to get whole BTC distributed as widely as possible, as quick as possible. The 8 decimal places is what will give us our depth, eventually. Right now though, we need not people to have as many as possible, but as many people as possible to have some.

more or less retired.
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April 10, 2013, 08:16:33 AM
 #80

we need not people to have as many as possible, but as many people as possible to have some.

Ah... I will make it easy then:

17ELzzeG5bQnzRrCNhuVFQkSA34zqb5VcR
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