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Question: At what point will you sell most of your BTC?
$200-$499 - 31 (10.4%)
$500-$999 - 20 (6.7%)
$1000-$4999 - 55 (18.5%)
$5000-$9999 - 24 (8.1%)
$10,000-$49,999 - 38 (12.8%)
>$50,000 - 48 (16.1%)
I will never sell my BTC for dirty fiat money again - 76 (25.5%)
<$200 (clarify in post) - 6 (2%)
Total Voters: 298

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Author Topic: How strong is your hand?  (Read 6128 times)
Miz4r
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May 14, 2013, 01:58:44 PM
 #1

I have a question for all you true believers in bitcoin who are buying and holding long term. How strong is your hand really? Is there a point where even you would let a good portion of your bitcoins go to cash out in fiat money? I'm not talking about selling a small amount of bitcoins, it has to be at least 50% of your total stack. Personally I don't think I will ever sell more than 50% of my bitcoins unless the whole experiment is doomed to fail (I will probably be too late then anyway). However when the price actually gets to values like $1000+ I might get tempted to release a bigger part of my stack. How about you?

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May 14, 2013, 02:06:13 PM
 #2

It may be that we don't sell them but use them to buy cars, houses, yachts or whatever.

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Miz4r
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May 14, 2013, 02:08:10 PM
 #3

Yeah that would be great, but don't you think the current price/btc first will need to reach very high values for that to become possible? I don't think this is possible with a market cap of only a couple billion.

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May 14, 2013, 02:18:30 PM
 #4

Yeah that would be great, but don't you think the current price/btc first will need to reach very high values for that to become possible? I don't think this is possible with a market cap of only a couple billion.

2 years ago Bitcoin was worth $3.  Its now worth $115.  In that 2 years, mtgox and many other big sites have been hacked, exchanges have been arbitrarily closed down by banks and generally Bitcoin has been kicked about like a hedgehog on a village green.

Even if it carries on being hacked, arbitrarily attacked and kicked about, in 2 years time the same rate of growth takes us to each Bitcoin being worth about $4000.

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Geist
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May 14, 2013, 02:29:41 PM
 #5

If I cash out, it's only because I think the price will go down and I can get more bitcoin. If bitcoin gets to $10,000-50,000, then it probably has a mass adoption rate and thus is probably accepted in most places, so I would never sell.

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kokojie
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May 14, 2013, 02:42:30 PM
 #6

too few options, I already sold half of my coins in the $80-$100 range.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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May 14, 2013, 02:43:22 PM
 #7

It may be that we don't sell them but use them to buy cars, houses, yachts or whatever.

Better to rent things with bitcoins I think - no reason to own anything other than bitcoins.
jinni
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May 14, 2013, 02:52:04 PM
 #8

It may be that we don't sell them but use them to buy cars, houses, yachts or whatever.

Better to rent things with bitcoins I think - no reason to own anything other than bitcoins.
+1

Owning a yacht or a house brings a lot of responsibility. With owning Bitcoin the only thing you have to worry about is keeping your Bitcoin safe, which should be pretty easy.
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May 14, 2013, 02:52:37 PM
 #9

My hand is weak but my profits are strong.



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Miz4r
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May 14, 2013, 02:56:26 PM
 #10

too few options, I already sold half of my coins in the $80-$100 range.

Then you're not one of the strong hands I was aiming this poll at. Wink

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Welsh
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May 14, 2013, 02:59:05 PM
 #11

That's true, I know that many people are just in this to earn quick money and leave Bitcoin in it's tracks.
I for one will be sticking with Bitcoin, hoping to potentially buy a house, land, and women (Jokes okay).
I would really like to pay for general items such as rent, food and delivery services within the near future.

As of yet, there are not a lot of properties selling for BTC and I hope in the near future people will be selling more properties, I think it's a go way of making BTC, couldn't get scammed because it would require a lawyer which would need to sign some papers with you and the buyer, and the payment would be sent at the time of the dealing.


Like someone said, "too few options" and yes I think there is not a lot of companies which are willing to sell for Bitcoin, I think that is partly because of the risk, but if you go by it the right way, there is little to no risk.
Miz4r
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May 14, 2013, 03:12:46 PM
 #12

My hand is weak but my profits are strong.

Well we'll see who trumps who in the end. The weak-handed short term profit seekers, or the strong-handed long term holders who can see beyond their own petty self-interest. I won't act like a hypocrit and admit I'm a little bit of both myself, I do envy those who are able to extract good profits from the ups and downs. But I'm also an idealist and a dreamer at heart, who wants bitcoin to succeed and see a better world come from it. Smiley

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May 14, 2013, 03:30:50 PM
 #13

Well, I'm swing trading, so this disqualifies me, I think. To be honst, I have absolutly no idea how I'd trade new levels or another crazy bubble like rally. Problem is: going down seems always to be faster than going up. Interessting thread, though.

Still I don't understand one thing: let's say you sell at 1000 $, I doubt that's the point where you say your final goodbye to Bitcoin, correct? So your real question is: where do long term holder take profit?

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May 14, 2013, 03:33:07 PM
 #14

Well... I'm looking for $135-140, so....

Don't mix your coins someone said isn't legal
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May 14, 2013, 03:49:55 PM
 #15

My hand is weak but my profits are strong.

Well we'll see who trumps who in the end. The weak-handed short term profit seekers, or the strong-handed long term holders who can see beyond their own petty self-interest. I won't act like a hypocrit and admit I'm a little bit of both myself, I do envy those who are able to extract good profits from the ups and downs. But I'm also an idealist and a dreamer at heart, who wants bitcoin to succeed and see a better world come from it. Smiley

I'm an idealist. But I'm smart enough to understand that my own impact on Bitcoin by holding it is miniscule (though I know that by convincing other people I can make a bit of a difference). Thus the reason I'm holding no matter what is because of my own petty self-interest. I don't want to run the risk of day(and night)-trading, also I have no clue how to do it successfully anyhow. I know that $50k will just be the beginning, so why would I ever sell?
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May 14, 2013, 03:53:03 PM
 #16

I look at bitcoin as an appreciating asset to be used as collateral for loans in USD. There's no need to ever sell it.
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May 14, 2013, 04:12:16 PM
 #17

My hand is weak but my profits are strong.

How strong? I tell you what are strong profits: holding dozens of thousands of Bitcoins bought under $0.1

I'm sure if you had coins bought at $0.1 at the end of 2010 you would have sold during the 2011 bubble, at $20ish, to secure your "strong profits".

The ones who voted "i will sell my bitcoins at $200-$499" are just short sighted pussies.

The ones who voted >$1,000 will be big time loosers. They will be in a world of pain when we will hit 5 digits.

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May 14, 2013, 04:14:04 PM
 #18

My hand is weak but my profits are strong.

Well we'll see who trumps who in the end. The weak-handed short term profit seekers, or the strong-handed long term holders who can see beyond their own petty self-interest. I won't act like a hypocrit and admit I'm a little bit of both myself, I do envy those who are able to extract good profits from the ups and downs. But I'm also an idealist and a dreamer at heart, who wants bitcoin to succeed and see a better world come from it. Smiley

Sorry, but we have already seen who is winning big time: the long term holders.

All the ones that cashed out for good (a couple early adopters that cashed +BTC100,000 in 2011, etc.) have made a big mistake in terms of "fiat profits". And this is not an opinion, this is a fact.

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May 14, 2013, 04:21:56 PM
 #19

My hand is weak but my profits are strong.

Well we'll see who trumps who in the end. The weak-handed short term profit seekers, or the strong-handed long term holders who can see beyond their own petty self-interest. I won't act like a hypocrit and admit I'm a little bit of both myself, I do envy those who are able to extract good profits from the ups and downs. But I'm also an idealist and a dreamer at heart, who wants bitcoin to succeed and see a better world come from it. Smiley

Sorry, but we have already seen who is winning big time: the long term holders.

All the ones that cashed out for good (a couple early adopters that cashed +BTC100,000 in 2011, etc.) have made a big mistake in terms of "fiat profits". And this is not an opinion, this is a fact.

This. I'm sure some traders might be able to make a profit for some time, but they won't be able to keep doing it forever. The smart thing for the lucky few traders to do would be cash-out of fiat and hold Bitcoin forever.
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May 14, 2013, 04:24:05 PM
 #20

If i can buy stuff(houses, food, gas, etc etc) with Bitcoin i will never sell, i will even buy more Bitcoins then.
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