Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Spaceman_Spiff]

Malevolent is right. Never go full fiat. That's been historically a losing strategy, and that's a matter of fact - unless you sold to buy back lower and you succeeded, obviously.

The dude made half a million bucks.  I would be happy....

If he had left half on the table, he'd have another $100k by now.

OK, but you never know that, right?  Having a house is lower risk.
I would probably never cash out completely, but still, can't blame the guy, as I said, I would be happy in his place.

[1715445996]

1715445996

[BitChick]

I can't believe I sold all just under 500! I was so happy to have over a half million $ that I couldn't wait. Oh well, I guess all I can do is sit in my new completely paid off house and cry. lol

You sold all? Really?

IMO at current BTC valutation selling "for good" (to cash in fiat profits) more than 35% of ones BTC stash is completely crazy, regardless of when you bought in.

If you bought in low double digits/single digits, then your profits are SO HUGE that selling only 20% will grant you a massive gain, while you still keep bullets for the "next round".

If you bought just a few weeks/months ago, then selling 20% is probably enough to recover your full investment, while you keep riding the BTC trading.

In any case, selling all seems like something you will bitterly regret in the near future. I guess you dig in the forums and read the stories of those who sold tens of k's of coins in 2011 (if not hundreds of thousands of coins), bought a nice house and a nice car and retired from the BTC scene for good. Just 2 years after those guys would be so wealthy that their kids and the kids of their kids would be all set for life.

Yep - it might not happen. But its the kind of opportunity you just cannot afford to lose

I already kind of regret it but I mined for most of my coin so long ago and this is such a giant windfall that it's hard to not be happy.

Mortgage the house and buy some back.  Or get a second loan and buy some back.  You will eventually be able to pay of the second loan and still have some coins in case (which there is a decent chance) we get to $100,000 and beyond.

[adamstgBit]

[NewLiberty]

I can't believe I sold all just under 500! I was so happy to have over a half million $ that I couldn't wait. Oh well, I guess all I can do is sit in my new completely paid off house and cry. lol

Better to cry in a new house than outside in the park.

You sold on stamp or gox at $500?

Gox

you could make a video on what you've bought with the fiat from the bitcoins, i'd be interested in seeing it Also you could always just buy 4 and wait for them to hit 100,000 but wow you have a lot of money anyway now so it's ok.  I would probably cash out 50% when i get to 150,000 pound each

Quick, get a mortgage and jump back in!    The mortgage is a good tax break.

[adamstgBit]

bubble ontop of a bubble?

i'll believe it when i see it.

[BitChick]

Malevolent is right. Never go full fiat. That's been historically a losing strategy, and that's a matter of fact - unless you sold to buy back lower and you succeeded, obviously.

The dude made half a million bucks.  I would be happy....

If he had left half on the table, he'd have another $100k by now.

OK, but you never know that, right?  Having a house is lower risk.
I would probably never cash out completely, but still, can't blame the guy, as I said, I would be happy in his place.

All of the logaramithic charts point in the direction of Bitcoin reaching $1000 by early next year and even $5000 to $6000 towards the end of next year.  So I would have thought a little patience would be a good thing right about now.  

Sure, I am not sitting on half a million in BTC so it is hard to say what I would do (plus I already have a house but with a hefty mortgage payment) but I would think cashing out smaller amounts just in case it goes up to the amounts being predicted would be the safest way to go at this point.

[bitcoin carpenter]

Enjoy your life and never look back..
There are many things more important than the possibility of wealth.
And congrats on your house being owned.
May your family once again regain your full attention and may the decisions you made for them never be regretted

Cheers

[Rampion]

I can't believe I sold all just under 500! I was so happy to have over a half million $ that I couldn't wait. Oh well, I guess all I can do is sit in my new completely paid off house and cry. lol

You sold all? Really?

IMO at current BTC valutation selling "for good" (to cash in fiat profits) more than 35% of ones BTC stash is completely crazy, regardless of when you bought in.

If you bought in low double digits/single digits, then your profits are SO HUGE that selling only 20% will grant you a massive gain, while you still keep bullets for the "next round".

If you bought just a few weeks/months ago, then selling 20% is probably enough to recover your full investment, while you keep riding the BTC trading.

In any case, selling all seems like something you will bitterly regret in the near future. I guess you dig in the forums and read the stories of those who sold tens of k's of coins in 2011 (if not hundreds of thousands of coins), bought a nice house and a nice car and retired from the BTC scene for good. Just 2 years after those guys would be so wealthy that their kids and the kids of their kids would be all set for life.

Yep - it might not happen. But its the kind of opportunity you just cannot afford to lose

I already kind of regret it but I mined for most of my coin so long ago and this is such a giant windfall that it's hard to not be happy.

Well, I kinda admire you. I've learnt so much from the stories of Sirius and other early adopters who said "OK" and "resigned" themselves by cashing out $500k - $1.5M in 2011 and lost the opportunity to have now x40 of that amount just two years later, that I could NEVER think of going full fiat unless I'd be in a super serious need. (Sirius is not the only example, the other guy from the "hackers club" who was believed to be Satoshi cashed out +77k coins too in 2011)

In fact, I think that I will probably end up holding BTC when it finally implodes... "Never go full fiat" really sticked into my head.

Let me add that I'm not against taking profits: I've already cashed in for good aprox. ten-fold of what I originally invested in BTC, and I have an "exit plan" that comprends different sells at different price levels (first big step was a few days ago at $675 - but I still hold the vast majority of my BTC). Its just that my plan does not contemplate "full fiat" unless I reach the point in which money will never be an issue anymore for me or my kids.

[QuestionAuthority]

You're all right to hold on to some for the future, and I kept a couple just in case, but it does feel really good to have made money and cashed out. For many of the dream chasers here cashing out is a bedtime fantasy. I don't want to dream about it anymore. At what point do you cash out? At retirement or when you have a big purchase and need the money? Never? I hope the price goes to a million a coin and we are all rich off a few coins but I most likely won't live long enough to see that happen.

I haven't spent a coin since Jeremy was selling Amazon cards to Americans. So I've been saving for a long time. Time to spend!

[zoinky]

bubble ontop of a bubble?

i'll believe it when i see it.

These bubbles will look like nothing in all time graphs 3-6 months from now.

[San1ty]

[ChartBuddy]

[ardana123]

You're all right to hold on to some for the future, and I kept a couple just in case, but it does feel really good to have made money and cashed out. For many of the dream chasers here cashing out is a bedtime fantasy. I don't want to dream about it anymore. At what point do you cash out? At retirement or when you have a big purchase and need the money? Never? I hope the price goes to a million a coin and we are all rich off a few coins but I most likely won't live long enough to see that happen.

I haven't spent a coin since Jeremy was selling Amazon cards to Americans. So I've been saving for a long time. Time to spend!

How many coins did you cash out in total?

[Pruden]

Again???

[QuestionAuthority]

You're all right to hold on to some for the future, and I kept a couple just in case, but it does feel really good to have made money and cashed out. For many of the dream chasers here cashing out is a bedtime fantasy. I don't want to dream about it anymore. At what point do you cash out? At retirement or when you have a big purchase and need the money? Never? I hope the price goes to a million a coin and we are all rich off a few coins but I most likely won't live long enough to see that happen.

I haven't spent a coin since Jeremy was selling Amazon cards to Americans. So I've been saving for a long time. Time to spend!

How many coins did you cash out in total?

Just over 1800.

Edit: that's all I've ever had which includes spending at SpendBitcoins.

[mb300sd]

My cash out point is when 50% lets me retire at 25 and live very comfortably for the rest of my life. Then I'll only cash out 50%.

[Rampion]

You're all right to hold on to some for the future, and I kept a couple just in case, but it does feel really good to have made money and cashed out. For many of the dream chasers here cashing out is a bedtime fantasy. I don't want to dream about it anymore. At what point do you cash out? At retirement or when you have a big purchase and need the money? Never? I hope the price goes to a million a coin and we are all rich off a few coins but I most likely won't live long enough to see that happen.

I haven't spent a coin since Jeremy was selling Amazon cards to Americans. So I've been saving for a long time. Time to spend!

I understand you, I guess it also depends on your circumstances. But I have to admit it strikes me just because I wouldn't do what you did (and in fact I'm not doing that, but cashing out very slowly and progressively). I mean, 20% of what you cashed out is already $100k, which is a reasonable amount. Let's say that $100k buys you 1 year of comfortable life while you still ride this choo choo train with 80% of your holdings. Its so clear for me that's the only way to go with BTC, to hold with as many coins as possible to see if it realizes its potential and the long-term trend continues, that it strikes me to hear stories like yours. But again: I guess its a matter of circumstances too. Congrats and enjoy

[Rampion]

My cash out point is when 50% lets me retire at 25 and live very comfortably for the rest of my life. Then I'll only cash out 50%.

See? That's a strategy I can understand better

(I guess we are a bit of a gamblers)

[bitcodo]

Enjoy your life and never look back..
There are many things more important than the possibility of wealth.
And congrats on your house being owned.
May your family once again regain your full attention and may the decisions you made for them never be regretted

Cheers

Very nice.


QuestionAuthority, get out of here.

[QuestionAuthority]

You're all right to hold on to some for the future, and I kept a couple just in case, but it does feel really good to have made money and cashed out. For many of the dream chasers here cashing out is a bedtime fantasy. I don't want to dream about it anymore. At what point do you cash out? At retirement or when you have a big purchase and need the money? Never? I hope the price goes to a million a coin and we are all rich off a few coins but I most likely won't live long enough to see that happen.

I haven't spent a coin since Jeremy was selling Amazon cards to Americans. So I've been saving for a long time. Time to spend!

I understand you, I guess it also depends on your circumstances. But I have to admit it strikes me just because I wouldn't do what you did (and in fact I'm not doing that, but cashing out very slowly and progressively). I mean, 20% of what you cashed out is already $100k, which is a reasonable amount. Let's say that $100k buys you 1 year of comfortable life while you still ride this choo choo train with 80% of your holdings. Its so clear for me that's the only way to go with BTC, to hold with as many coins as possible to see if it realizes its potential and the long-term trend continues, that it strikes me to hear stories like yours. But again: I guess its a matter of circumstances too. Congrats and enjoy

You're probably not as old as I am either. lol