You all know this doesn't have legs right? I don't think there's been a better sell signal in all of history for anything.
Bullmarket confirmation finally confirmed
Hopefully we didn't all just jinx it with a plethora of Llama Llama quotes.
na, confirmed by math and science
....until some gox coins flood the marketWith the upcoming demand of Spot ETFs, gox will finally be history within a day or two. IMO
I would like to think that. But many people who bought their coins under 1k$ are sitting on a 50x now and will be happily selling to Blackrock.
Does anyone know if the coins of the people who chose fiat payout have already been sold by the trustee??
Disagree.
If you got in under $1000 a Bitcoin, you are long enough in this market to know that this is a bad time to sell. In fact, if i held Bitcoin for so long a time, i would like to see a supply shock before i consider selling for $.
Overall, I agree that you, OOM, have the way better side of this argument. Personally I have no real problem shaving off some cornz here and there around these prices, including any prices that are more than 25% above the 200-WMA, but surely we already know that BTC have a lot of historical precedence in which it has gone between 100% and 1,400% above the 200-week moving average, and right now we are merely right around 50% above the 200-WMA, we are in a point of the cycle in which the additional supply is getting cut in half, and we have way the fuck more demand than BTC that is available at these prices.. so there is ONLY so much fucking around that any of them can do in terms of keeping the BTC price down.
It is almost that we need just a 2-5X BTC price increase from here just to appease some of the ongoing demand for BTC, so sell at your own peril in these here price ranges.
Sure if the BTC price goes up another 2x to 5X from here, then surely some additional BTC is going to come onto the market, but even long time BTC HODLers don't even really necessarily need to be selling large amounts of their BTC.. maybe they can shave off 10% or 20%, but even then how much they shave off might depend on other cashflow matters that they have, and maybe if they are anticipating that BTC is not able to absorbe and continue to rise in price after another 2x to 5x from here.
Surely some folks are even more bullish to be suggesting that 10x to 20x from here is fairly easily attained, but even those guys are not suggesting that 10x to 20x from here would be sustainable in the short-term, even though many of us longer term bitcoiners realize that 10x to 20x from here is merely matching and/or double to gold's current market cap, so such prices will be easily sustainable in the future, such as later in this cycle or maybe in the next cycle... so yeah, why sell, and if you sell, why sell very much at these price or even if the BTC price might end up doing a relatively quick 2x to 5x from here within the next 3 weeks to 12 months.
[edited out]
I agree with the first statement but not the second. Why would you ever consider trading back to fiat? I would rather see Bitcoin drop to 0 before trading back to fiat.
I don't really have any problem with the idea of "trading back to fiat," especially in the sense that it is likely a matter of proportion, since hopefully none of us longer term coiners are so dumb as to be selling more than 50% of our stash, and many of us likely can fuck around selling 10% to 20% and not even get into those kinds of territories of selling large quantities of our lil precious.
I am pretty sure that even my projection of BTC prices going up to $600k, my somewhat automated system would ONLY end up selling around 7.8% of my BTC stash, and sure there are likely some things that I am not accounting for, and there also might be some extra manual override sales that I could insert into the space, especially if the BTC price were to go up really fast like 10x to 20x in a fairly short period of time... but still I don't even feel very prejudiced if I were to just stick with my fairly conservative system of selling fairly small amounts at various increments on the way up.. and why get greedy, even if a large BTC price drop (such as 50-80%-ish) may well end up following a large rise (such as something in the 10x to 20x range) in a short period of time... past performance does not really tell us what will happen, even though we likely would still consult with some of the past performance comparisons to figure out what seems reasonable and plausible versus what seems like fantasy.
I agree with the first statement but not the second. Why would you ever consider trading back to fiat? I would rather see Bitcoin drop to 0 before trading back to fiat.
buying nice things ?
I'm pretty sure many are getting back quite some life changing amount and they will consider cashing out a part for ... see above
I prefer to buy things i need over things that are nice.
For now, i'm satisfied with my current life, so no real need to change it.
At least not this early
Hahahahahaha
You need to
up your "buying nice things" game, OOM... especially if we get another 10x to 20x from here.. .even if we get another 5x, might it not feel tempting to buy some nice things.. just because you can
and without hardly even feeling anything - besides pure joy and gluttony?
Get with it gentlemen.
I prefer to buy things i need over things that are nice.
For now, i'm satisfied with my current life, so no real need to change it.
At least not this early that's exactly what I'm talking about: for some it's not early anymore and they are sitting on a 50x or 100x
Yeah, but we are still in the wrong part of the cycle to be fucking around with selling.. but hey whatever, do what you like and get your 50x to 100x profits...
I am personally calculating myself around 50x but still I am not anxious to be selling at these here prices.. and yeah, I don't feel like I am in a fantasy.. but I also have a system in which I have plenty of money (meaning fiat), but at the same time, just think of already having even more money when we go from don't wake me up zone and into no man's land.. and then sales are continuing to be made an there might not be any correction, so maybe some more substantial sales could be made in the $80k to $100k arena.. but that might end up proving to be a mistake (no problem hedging though, especially in the territory of 80x to 100x profits), but still supra $100k maybe $120k to $150k might be o.k.. to shave some off.. even though that might also not be any kind of long term stopping point in the UPpity journey... .and so shaving some off on the way up.. no problem.. but that still would not justify getting excited and selling large amounts at any particular point, even if a correction might come.
and btw buying things you need is nice as well... isn't it?
Both are good.
being conservative I think at least 20% of the gox coins will flow into the market within the next 2 years... probably more
That seems like a big so what (you been following OgNasty too much?), and sorry for their loss.. .and by the way a decent quantity of the those GOX coins are not even owned by individuals, so who cares if they sell or whatever they decide to do with their coins (or if they don't recognize and appreciate the value of mostly HODLing their coins). The coins will get absorbed by stronger hands, once (or if) they are sold.
I've been getting by on nothing for so long now, I don't feel like I need anything. Maybe a case of Indian River Ruby Red Florida grapefruit... but that's about it.
You better
step up your "buying nice things" game, Homer!!!!!!
Poll
