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

[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%.

See? That's a strategy I can understand better

(I guess we are a bit of a gamblers)

Retiring is over rated, you need to find a job/hobby that allows you to earn fiat, why bitcoining in the mean time.  Never fully retire until you are old. 

Well, my definition of "retire" is to party hard 5 nights a week... Kinda like college life now.

[gandhibt]

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.

+1

[QuestionAuthority]

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.

lol  I'll still be around. I'm waiting for Matthew to come back so I can fuck with him some more. Besides I have to see the end of the BFL saga. Kind of like watching a bad miniseries. You hate it but just can't stop watching.

[sumantso]

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.

Agreed.

And congrats, you have earned your dream. If you keep coming back here you will start second guessing and that is never good.

[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

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

Exactly. That is what I meant by "circumstances". I know $500k won't change my life in the long term, but I can understand that situation and circumstances might be very different. I mean... Those of us who entered this game at least one year ago had the feeling this thing could have gone at least x100. And it did. We all agree it can go to 5 digits super easily, and 6 digits is a real possibility if this BTC thing really takes off. Even 7 digits is not mathematically impossible, albeit unlikely.

So... We got it right at least till here and it strikes me you leave our choo choo train just now. We'll miss you

[Odalv]

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.

I do not believe it is possible in 4 days withdraw from gox $500k and buy house. Total BS

[Pruden]

700$. Yawn.

[biodieselchris]

Demand for bitcoin hasn't even really begun yet, IMO.

Sure it's bubblicious, but putting an upper bound on a bubble is impossible. Is it the current ATH (900), is it 10x that, a 100x???

[Sitarow]

So Gox goes up while China didn't do anything really. It's up to 730 doing just fine when suddenly China goes down and instantly Gox and Stamp drop.
Can anybody explain to me how that happens so fast and why?

the bubble poped!

now their could be another bubble foruming right now. IDK i'm  really scared.  

Those that were comfortable to exit the race at 800-900 have since been replaced by the new adopters who are still racing to get in.

You can see evidence of this as before the drop the BTC on the ask side was slim. However since the drop the btc on the ask side has grown.

These new players are going long and I expect them to hold large quantities of BTC much like art as they would with other 1/3 commodities.

I had expected this to take another week or so. However since the US Senate hearing and with the upcoming reviews in early/mid December I expect that others also had felt the bullish nature the US is adopting to Bitcoin and cryptocurrencies in general.

[N12]

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.

Only on bitcointalk can you find this sort of advice. My goodness.

[Parazyd]

All you have hundreds, if not thousands of BTC. What with people that have like, 30?

[adamstgBit]

So Gox goes up while China didn't do anything really. It's up to 730 doing just fine when suddenly China goes down and instantly Gox and Stamp drop.
Can anybody explain to me how that happens so fast and why?

the bubble poped!

now their could be another bubble foruming right now. IDK i'm  really scared.  

Those that were comfortable to exit the race at 800-900 have since been replaced by the new adopters who are still racing to get in.

You can see evidence of this as before the drop the BTC on the ask side was slim. However since the drop the btc on the ask side has grown.

These new players are going long and I expect them to hold large quantities of BTC much like art as they would with other 1/3 commodities.

I had expected this to take another week or so. However since the US Senate hearing and with the upcoming reviews in early/mid December I expect that others also had felt the bullish nature the US is adopting to Bitcoin and cryptocurrencies in general.

ya me too   

[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?

Just over 1800.

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

How are you planning to withdraw it from Gox though? Gonna take the 5% extortion fee?

[adamstgBit]

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.

How are you planning to withdraw it from Gox though? Gonna take the 5% extortion fee?

please tell us you didn't sell at mtgox.

[Richy_T]

Again???

Just confirmed this is the data received from Gox. Next to check that the timestamp that comes with it makes sense.

[QuestionAuthority]

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.

I do not believe it is possible in 4 days withdraw from gox $500k and buy house. Total BS

Oh, you're right it's not. But I have relatives in Europe and it's taken more than 4 days. When the money comes through the house is paid off. Funny but this market is so unstable that by the time I get the cash everyone here could be mega rich or broke.

[BarkinTree]

what does socialism/entitlement have to do with arrogance? do you have the experience to believe what you say, or do you just make generalizations based on some right libertarian perspective of political system?

u.s. = fuck the poor, dick ride corporations. and u.s. has some of most arrogant people in the world, no question. so what does socialist context have to do with it?

How is feeling entitled to receive a handout not arrogance?

a handout? talk to me when corporations destroy your homeland, make your air unbreathable, destroy your rain forests and kill off your wildlife, all the while paying workers less and less and less? one of the reasons education systems continue to crumble is due to widespread corporate tax avoidance. they take and take and destroy our cultures bit by bit, and it's handout when we say things must change, else they must pay for the privilege? the game was rigged from the start -- fuck a handout. that term is inappropriate when the game was rigged against the poor.

having an opinion that may differ from yours regarding the limits of human dignity and of theft/exploitation, does not make a person arrogant. it is a difference of opinion. arrogance has to due with perception of one's own importance. if one favors equality, to whatever extent, that indicates the polar opposite -- that the importance of others equals their own. in other words, you are very much misusing the word.

Don't lecture me about corporations.  Buy the way, they are just getting started.  I live in the US.  They have stripped us bare already, but nobody around me gives a shit because they are too busy chasing a dream they will never reach but were told everyone could have.

How about the Venezuelan president forcing electronics and appliance sellers to take losses on all their merchandise recently?  That is fucking theft too.  Two wrongs don't make a right.  This is not the first rodeo for the corporations.  You are repeating the mistakes of the people of the United States, and you will wind up just like us unless you just shrug off the system and work on building something new.  Thinking you are important enough that stealing is okay is why I speak of arrogance.

corporations have not stripped u.s. bare, not nearly like elsewhere in the world. if you believe that, then i understand why you hold these opinions -- being from the u.s., whose corporations and government have bled the rest of the world far, far, far more than you and yours. more than you can probably imagine, from the sound of it.

i do not support statism. but i don't cater to this "two wrongs don't make a right" bullshit either. when people have been stolen from for years and generations, i do not judge them for trying to take a piece back. i find that right libertarians say to me, "sure, we agree, fuck the state. but everything that was taken from you as a result? it's for the rich now (who profited from the state), now go pull yourself up by the bootstraps." fuck that. are Palestinians arrogant for protesting the repeated theft of their land? once Israeli settlers take to such land, it becomes theirs, in their eyes. Palestinians are arrogant for feeling entitled to what was stolen from them? i imagine you say yes.

thinking that the whole of humanity is important enough that we rise up against the few that oppress us, again, is not arrogant in the least. even right libertarians would support such a notion, i would think. arrogance is about self-importance, self-entitlement. socialism has never been about that, except maybe for people in the u.s listening to repulicans. i imagine the people who want "government handouts" in the u.s. don't even know what socialism entails. they are just poor.

the "arrogance" of people in the u.s. has absolutely nothing to do with this. when people complain about people from the u.s., it is generally because they hardly recognize the rest of the world exists, and think they are superior to everyone else. this is very far removed from what you are suggesting about the "arrogance" of others. again, i think you are misusing the word. an inflated sense of self-importance has nothing to do with one's political philosophies -- political philosophies are not based in analyses of self. i've met many arrogant anarchists. i've met many arrogant capitalists.

[Rampion]

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.

Only on bitcointalk can you find this sort of advice. My goodness.

Debt is so deeply rooted in US folks mentality that it hurts. I really have a simpathy for Bitchick, I'm a long-term bull myself, but came on... To advise someone to get in debt (even worse, to mortgage his house) to buy a high-risk experimental currency is so fucked up it blows my mind. We where speaking about "opportunities you cannot afford to lose"... Well, being in debt or losing your house to gamble is something NOBODY should afford to do.

And that type of mentality leads me to think that eventually BTC will implode sooner than later, people tends to auto-destruction and greed is one of the main mind-fuckers.

[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.

How are you planning to withdraw it from Gox though? Gonna take the 5% extortion fee?

That can't be helped. I may as well tell you, it's almost over now. I have several family members receiving from accounts I helped them make. They will receive the funds and transfer to me slowly. The extortion fee isn't as bad as the tax will be.

[BarkinTree]

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.

Only on bitcointalk can you find this sort of advice. My goodness.

Debt is so deeply rooted in US folks mentality that it hurts. I really have a simpathy for Bitchick, I'm a long-term bull myself, but came on... To advise someone to get in debt (even worse, to mortgage his house) to buy a high-risk experimental currency is so fucked up it blows my mind. We where speaking about "opportunities you cannot afford to lose"... Well, being in debt or losing your house to gamble is something NOBODY should afford to do.

And that type of mentality leads me to think that eventually BTC will implode sooner than later, people tends to auto-destruction and greed is one of the main mind-fuckers.

that is just HORRIBLE advice, come on people. geeeez. mortgage the house and buy some back? i am long term bull too but agree, this is just AWFUL. i hope no one listens to this shit.