Why I dont care that I did not sell at $250, and why I am not selling

[jubalix]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

So next time when I sell, thinking its a peak, and it does not come back, I will miss out.

So it's just not worth the effort/stress over a 10 year horizon to essentially get a zero sum game

Sure I could make 4x this time by selling at 250, but next time when I sell at 300 and it goes to 2000 and only comes back to 1200, same loss, to buy back in.


The only time I would sell BTC is to trade into other Cypto's, as I have committed a % strategy to cryptos, the only uncertainty is which one will win out or which group, and internally this strategy pays off. Also I may trade between crypto's, but no coming back to FIAT with cryptos probably ever, In any event more and more services will accept cryptos....

I mean do you get some one to transcribe your emails and send them in the post for the last bit of the journey, no you just email, and maybe use a printer.

Eg TRC, PPC still 30 - 50, LTC 10 times what is was 2 months ago relative to BTC, so value actually held the same for me, the only down side is, when BTC goes up my value sorta goes up alot slower as LTC TRC and PPC drops a bit and you typically can get a lot more coins so acts a a magnifier.

[fitty]

I fell asleep at "long term".

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

So next time when I sell, thinking its a peak, and it does not come back, I will miss out.

So it's just not worth the effort/stress over a 10 year horizon to essentially get a zero sum game

[zby]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

So next time when I sell, thinking its a peak, and it does not come back, I will miss out.

So it's just not worth the effort/stress over a 10 year horizon to essentially get a zero sum game

True - but if you sold you could now buy 4 times more BTC for your long term.

[evolve]

True - but if you sold you could now buy 4 times more BTC for your long term.

This.

[bitcoiners]

Lol, I don't effing care OP....  How's that?

You missed many opportunities... Your bad. Period.

[keystroke]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

So next time when I sell, thinking its a peak, and it does not come back, I will miss out.

So it's just not worth the effort/stress over a 10 year horizon to essentially get a zero sum game

+1

Not to mention capital gains taxes. Pay the government so you can buy more Bitcoins when the price in $ drops? Just doesn't feel right.

[mgio]

I bought at 10 and didn't sell at 25 either.

My brother said I was stupid for not selling.

My brother also told me to sell at 49.

So if I listened to him, I'd be even worse off than I am now.

[Fiery Winds]

True - but if you sold you could now buy 4 times more BTC for your long term.

This.

Why people keep bringing up the past as evidence for what they "could have done" continues to baffle me.  If the price hits $2, of course people could say, "You could have sold at $60 and have been able to buy 30x as many coins!".

But the fact is, we DON'T know what's going to happen, and people like the OP choose to not risk coins in such a volatile market, and are content to simply hold.  Sure, these people may not realize the same profit as other risk-takers, but some people can't afford that risk.  

[jubalix]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

So next time when I sell, thinking its a peak, and it does not come back, I will miss out.

So it's just not worth the effort/stress over a 10 year horizon to essentially get a zero sum game

True - but if you sold you could now buy 4 times more BTC for your long term.

no but I would sell later and only be able to buy back a 1/4, back to square 1

[kwukduck]

Why do you guys even think bitcoin will recover?
The media destroyed it, bubble pops, everybody is looking for the new virtual currency that 'solves the many problems with bitcoin', and ripple and litecoin are often named (not that that makes any sense...).

It doesn't matter what a small community like ours wants or thinks, media declared bitcoin pretty much dead, i expect to see single digits soon.

I was very optimistic long-term too, but i think the confidence is too damaged now because of the media hype and panic sells.

Honestly i hope i'm completely wrong about it...!

[ruski]

capital gains taxes
bitcoin

HAHAHA.

[Frozenlock]

Why do you guys even think bitcoin will recover?
The media destroyed it, bubble pops, everybody is looking for the new virtual currency that 'solves the many problems with bitcoin', and ripple and litecoin are often named (not that that makes any sense...).

We haven't been looking at the same media.

https://www.youtube.com/watch?v=6SLPy89gPE0

http://www.cbc.ca/player/News/Business/ID/2375415659/

[jubalix]

Why do you guys even think bitcoin will recover?
The media destroyed it, bubble pops, everybody is looking for the new virtual currency that 'solves the many problems with bitcoin', and ripple and litecoin are often named (not that that makes any sense...).

It doesn't matter what a small community like ours wants or thinks, media declared bitcoin pretty much dead, i expect to see single digits soon.

I was very optimistic long-term too, but i think the confidence is too damaged now because of the media hype and panic sells.

Honestly i hope i'm completely wrong about it...!

I didn't not buy in because of media hype I will not sell because of media hype. Rather because of the maths and the  implications

I purchased because CC's are a solution to a century's old problem, and will shift sovereignty to the individual away from the state.

Pandoras box is open, I care not for the old world/tech little markets or media, in the same way the flat earthers idea's are now treated

[ruski]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

Translation: I bought at $250, cried on the downturn, did not sell and try to recoup my losses via trading lower, and am now trying hard to convince myself that I will someday recover my investment. When the market dips even further, I will declare bitcoin is permanently dead and sell my holdings for a 95% loss. No more than five minutes later the price will triple in recovery, and I will watch incredulously, telling myself that I was right about it being dead, and there's no way I could buy back into something that risky again.

After it has made at least a 2000% gain from the bottom, I will then buy in again with dreams of overnight riches.

How'd I do?

[jubalix]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

Translation: I bought at $250, cried on the downturn, did not sell and try to recoup my losses via trading lower, and am now trying hard to convince myself that I will someday recover my investment. When the market dips even further, I will declare bitcoin is permanently dead and sell my holdings for a 95% loss. No more than five minutes later the price will triple in recovery, and I will watch incredulously, telling myself that I was right about it being dead, and there's no way I could buy back into something that risky again.

After it has made at least a 2000% gain from the bottom, I will then buy in again with dreams of overnight riches.

How'd I do?

nope.jpg

I brought in a level much lower than now. But I stopped when I acquired a certain very small percentage of the 21M Coins. After that I need no buy or sell any more. Just careful divestment of small amounts into other crypto's

[adamstgBit]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

So next time when I sell, thinking its a peak, and it does not come back, I will miss out.

So it's just not worth the effort/stress over a 10 year horizon to essentially get a zero sum game

Sure I could make 4x this time by selling at 250, but next time when I sell at 300 and it goes to 2000 and only comes back to 1200, same loss, to buy back in.


The only time I would sell BTC is to trade into other Cypto's, as I have committed a % strategy to cryptos, the only uncertainty is which one will win out or which group, and internally this strategy pays off. Also I may trade between crypto's, but no coming back to FIAT with cryptos probably ever, In any event more and more services will accept cryptos....

I mean do you get some one to transcribe your emails and send them in the post for the last bit of the journey, no you just email, and maybe use a printer.

I agree that simply buying in on dips and just holding long term means that you can actually enjoy the mayhem when price crashes like it has been ( hell thats what i'm doing ). trading is fun and profitable in the crazy bitcoin market, but is also quite stressful when BIG moves happen...

as for litecoin.... i disagree, i strongly believe holding bitcoin will yield better returns long term... and ltc is even a little more of a risky speculative investment then bitcoin.

I like to buy stocks in bitcoin companies like S.DICE and Virtex, these are real companies!  their performance is not directly tied to bitcoin's price, but the shares are priced in bitcoin, this makes for a good very hedged against bitcoin bubbles popping!

[zvs]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

Translation: I bought at $250, cried on the downturn, did not sell and try to recoup my losses via trading lower, and am now trying hard to convince myself that I will someday recover my investment. When the market dips even further, I will declare bitcoin is permanently dead and sell my holdings for a 95% loss. No more than five minutes later the price will triple in recovery, and I will watch incredulously, telling myself that I was right about it being dead, and there's no way I could buy back into something that risky again.

After it has made at least a 2000% gain from the bottom, I will then buy in again with dreams of overnight riches.

How'd I do?

So the answer on a downturn is to lower your avg buy-in price by buying more? 

Good way to go bankrupt

[ruski]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

Translation: I bought at $250, cried on the downturn, did not sell and try to recoup my losses via trading lower, and am now trying hard to convince myself that I will someday recover my investment. When the market dips even further, I will declare bitcoin is permanently dead and sell my holdings for a 95% loss. No more than five minutes later the price will triple in recovery, and I will watch incredulously, telling myself that I was right about it being dead, and there's no way I could buy back into something that risky again.

After it has made at least a 2000% gain from the bottom, I will then buy in again with dreams of overnight riches.

How'd I do?

So the answer on a downturn is to lower your avg buy-in price by buying more? 

Good way to go bankrupt

No, it's to cut your losses, and either buy back in lower, or recoup said losses by working the volatility if you're good enough. The technical term for holding after making a big buy-in mistake is being a "loser."

[Qoheleth]

media declared bitcoin pretty much dead

What do you think happened in 2011? Look up "The Rise and Fall of Bitcoin".

[ManBearPig]

Its simply this, I am in it for the long term, for every peak I could pick, I would also be wrong.

This smells of remorse and written to yourself rather than to us

Bitcoin has been amazingly easy to make money from, for a trader it has AMAZING advantages over traditional stocks/ FX.

You have to square it with yourself of course and for every dollar you lose, see it as a dollar invested in your financial education