How strong is your hand?

[phorensic]

Somewhere in the $800 range I can sell all my BTC to wipe out my fiat debt...

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[Rampion]

Somewhere in the $800 range I can sell all my BTC to wipe out my fiat debt...

And you will be debt free - but you will have missed the opportunity of your life.

[phorensic]

I don't care.  I've been a slave to fiat debt my entire 20's, and I would like to be out of it before I turn 30 in a few months.

[dandirk]

I don't care.  I've been a slave to fiat debt my entire 20's, and I would like to be out of it before I turn 30 in a few months.

+1 I can tell you being debt free is an awesome feeling!

Yes sometimes it is better technically to take out loans (cheap money)... but not having payments or debt is great too.

People don't realize that if you have debt/payments can be better on paper but sucks donkey balls if you get laid off and have to continue to pay with even more restricted income.

We bought a car a few years back and the dealer couldn't understand why we put 30% down on a 1% interest loan.  I had to practically bitch slap the finance ho when she kept pushing her advice, finally had to tell her, we didn't need her advice and to STFU...

She just couldn't understand we had a payment level we wanted to reach, so if either one of us looses our jobs, we can still live on the others income.  Not only that but we like to have spending money and not worry if we can "pay" our bills each month... we just pay them AND can go do pretty much anything we want within reason of course.

It amazes me how little common sense people have these days... thus the property market bubble...  "omg I lost my job and 90% of my income goes to monthly payment debt what am I going to do?"  Answer... default on some bills and have shitty credit for 7 years and hopefully learn a lesson dipshit.

Not worrying about money each month is completely worth it.  Anyone can do it, you just have to be realistic and figure out what is really important to you.  Me I don't give a shit about clothes so my budget each year is about $600.  I shop at JCPennies, marchalls, tjmax... make fun all you want bout my style but I don't ever have to say... money is really tight can't go out for drinks and have fun with you sorry.

[jinni]

Somewhere in the $800 range I can sell all my BTC to wipe out my fiat debt...

When the USD inflation starts going into double digits you will kick yourself for getting rid of your loan.

[Rygon]

I have a strong pimp hand.

[N12]

Strong hands (going all in forever) = shit risk management. You don't get married to an asset, that's how you become a bagholder in case of failure.

In a bear market, the strong hands are those who hold the Bernanke Bux.

[Frozenlock]

Strong hands (going all in forever) = shit risk management. You don't get married to an asset, that's how you become a bagholder in case of failure.

In a bear market, the strong hands are those who hold the Bernanke Bux.

Goddammit, where were you in 2011 when I was being dumb?

[jinni]

You don't get married to an asset,

Getting married to an asset is like putting all your eggs into one basket, true if that if something goes wrong they will all break.

But right now there aren't any good assets out there for most people to hold. However, Bitcoin shows great promise.

In my mind holding fiat is high risk - you never know when it is going to collapse.

You could get some cheap land that you can live off if it all goes to shits, that way you have one egg out of the basket.

But holding fiat? Why would you want to hold an asset that soon will be pretty much worthless?

[samson]

I sold every Bitcoin I owned for considerably more than they're selling for right now.

I guess that makes me really 'weak' right ?

[N12]

I've been a long-term permabull from the beginning in Feb 2011 until the price began its parabolic phase in March or so. It is more difficult now with the risks (altcoins, blocksize scaling) Bitcoin faces and the already relatively high position it is at with regard to price and awareness.

On the other hand, we have a nice feedback loop going that may end up producing something of value that wasn't possible before, like Silk Road. If we get something like that that would make a difference at current prices, it would be much easier for me to regain a bullish bias. Until then, I'm going to continue relying solely on TA to manage my risks.

There is no weak hands or strong hands for me. This terminology has been abused by "pigs" and produced hilarious echo chambers like this right before the crash: http://static3.businessinsider.com/image/5165a9a0ecad045b0d000000-600-249/djlasir.jpg There are only good entry and exit points, and different risk/reward levels associated.

It's true that if you are comfortable with losing the entire wealth you have stored in Bitcoin, it is a good strategy to lock it away for years and let it go to 0 or 10000. However, for the people who have been here a longer time, Bitcoin probably represents almost all of their net worth, and so, wealth preservation becomes more important than before.

For people who don't know anything about trading and who have or plan to have most of their net worth in Bitcoin, I would advocate dollar cost averaging in over months and setting up some sort of profit taking plan, like taking a certain percentage out if it goes up a certain percentage.

But holding fiat? Why would you want to hold an asset that soon will be pretty much worthless?

Because in a bear market, you can buy more of your favorite assets with the same amount of national currency. People who knew that in the Bitcoin market did well in 2011. You can also buy land or gold or real estate or stocks or whatever you like whenever you like.

[Dansker]

Would never sell, but use to buy commodities.

[Rampion]

I sold every Bitcoin I owned for considerably more than they're selling for right now.

I guess that makes me really 'weak' right ?

Hope you are smart enough to buy back more coins you had when you sold them.

There's a lesson to be learned from those who "cashed out" after the 2011 bubble collapse.

[Frozenlock]

There's a lesson to be learned from those who "cashed out" after the 2011 bubble collapse.

Yes, they were able to buy coins cheaper. 

[samson]

Strong hands (going all in forever) = shit risk management. You don't get married to an asset, that's how you become a bagholder in case of failure.

In a bear market, the strong hands are those who hold the Bernanke Bux.

Very true.

[Rampion]

There's a lesson to be learned from those who "cashed out" after the 2011 bubble collapse.

Yes, they were able to buy coins cheaper. 

Well, they did not "cash out" then - they just plaid the market to buy cheaper bitcoins, and that's great... If they bought more bitcoins they had when they sold, otherwise their are losing big time.

The ones really f**ked are the ones who "cashed out" for good

[beckspace]

Don't end up with nothing, like the poor Rockbiter:



- They look like big, good, strong hands, don't they?



- I always thought that’s what they were. My little friends. The Bitcoin, the Litecoin, even the stupid Feathercoin. I couldn’t hold on to them. The crappy fiat pulled them right out of my hands. I failed.

[xavier]

Please reword the original post.

Start with 'what point will you sell at' ? $0-10, $10-20, $20-40, $40-60, $60-80, $80-110

I think i might do this myself actually.

[bornloser]

my hand is pretty strong so is my arm after beating off several times a day.

[Miz4r]

Please reword the original post.

Start with 'what point will you sell at' ? $0-10, $10-20, $20-40, $40-60, $60-80, $80-110

I think i might do this myself actually.

I aimed this poll towards long term holders specifically, I was curious to know at what price they would actually consider selling their bitcoins. I didn't expect them to sell below $200. But I added a <$200 option just now if there are any, so have fun.