Coinbase - Bullish sign?

[tvbcof]

not sure, I just sold my 3 bitcoins tho at $202 and now its still going up. sadface

For the week I've been watching Coinbase (which corresponds to the time I've been a customer) it seems to me that they've been closes to BTCChina.

My first sale and somewhat experimental sale fell in a nice mid zone, but my later and non-trivial one came out closer to Bitstump.  sadface.

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[Hfertig]

A profit is a profit. Could have been a loss as well. So there should be no regrets.

Interesting to see only bulls around. Good sign for a downmove.... And there a lots of people with a lot of profits on lots of coins. At some stage they are going to realise their gains... 

I might be wrong but I don´t believe that they are waiting for a new high.

Dude. You obviously just sold your coins so you did so with the thought in your head that this was either A. enough profit for you or B. that BTC would more or just as likely go up than down from heretoforth.

So, we get it. But you don't need to preach about how the market can go down to single digits just to make yourself feel better about your decisions. While it "could" go back to single digits, the BTC eco-system is starting to grow at an exponential rate and awareness of BTC in the human population is growing at an exponential rate. So to assume that the price of BTC is not going to move up in the future is optimistically bear in your position.

Congrats, you took your well deserved profits.

No need to tell us what is going to happen next.

I have not preached that BTC will go down to single digits... Reading helps...

I found it interesting how much hate is received just by warning others of risks. I am a believer in Bitcoin and its technologies despite its flaws. But USD 200+ a bitcoin (and we are talking bitcoin, nothing else), does not appear cheap to me. Maybe it is for others, but after thousands of percent, you don´t really mind missing another 10%, 20% or 50%. But losing 50% of them would hurt my ego...

So if everyone is so bullish, why not take your bitcoins to bitfinex, and buy with a 1:4 leverage. This makes you even richer when we do see the USD 5000. Good luck with that.

I have put some of my profits into a few bitcoin startups, where I do see more potential, than in the price of bitcoin itself.

Sitting on the sidelines and watching....

[leemar]

Most business people believe bitcoin's outcome if very likely a binary one.  Either very much bigger than today or forgotten and worthless.

At a market cap of 2.5bn for what might be disruption of the world financial system that could not be much less significant a number.  Does this mean XBT goes to 1000x eventually, who knows but to talk about current number as being 50% over or under valued is just silly.  Apple have 150bn on their balance sheet and don't know what to do with it

If I had bought in 2010 for a few cents and just sold to make a 1000x profit in 3 years I might also be inclined to warn people on price but wouldn't presume that I have timed some sort of top in the market.

[Hfertig]

Most business people believe bitcoin's outcome if very likely a binary one.  Either very much bigger than today or forgotten and worthless.

At a market cap of 2.5bn for what might be disruption of the world financial system that could not be much less significant a number.  Does this mean XBT goes to 1000x eventually, who knows but to talk about current number as being 50% over or under valued is just silly.  Apple have 150bn on their balance sheet and don't know what to do with it

If I had bought in 2010 for a few cents and just sold to make a 1000x profit in 3 years I might also be inclined to warn people on price but wouldn't presume that I have timed some sort of top in the market.

Very good post, I very much agree to this. There are a lot of bullish signs, but there are negative ones as well.

And prices are high with a lot of coins looking to find new owners at higher prices....

Lets see how it´s going to turn out, either way, definetly entertaining...

[Zangelbert Bingledack]

Sell a few coins if you need/want to use the money right away (assuming you can't spend the coins directly instead), but you never, never go full fiat. That shit is dangerous man! It could be taken from you at any time, you can't move around with it, etc. Why would you want fiat??

[bitrider]

Sell a few coins if you need/want to use the money right away (assuming you can't spend the coins directly instead), but you never, never go full fiat. That shit is dangerous man! It could be taken from you at any time, you can't move around with it, etc. Why would you want fiat??

More and more this is my thinking (and practice) too. Bitcoin is just much better to hold than fiat for so many reasons. After 3 years, I still get a thrill sending coins across the globe almost instantly with virtually no fee or controls. Yee Ha! That freedom is contagious and addictive. Once you get a taste of that fresh air, the fiat world of constraint and invasive body searches will never do again. And as you guys know, I'm not the only one who feels that way. Think there might be a few million (billion) others who feel similarly?

The idea that Hf suggests that $200 is expensive for bitcoins, is all a question of time frame. Yes, compared to last year $200 is outrageous. But compared to 2 years from now?? That is the question, and no arguing or insulting on these forums will answer that question. If you are short-term trader, looking to make a few fiat bucks here and there, and maybe buy a new car or townhouse, then maybe it is worth selling your coins now. It has been an amazing run. But if you are believer in the potential of this game-changing technology to make massive (even modest) impact on the financial system, and have the potential (granted, just the potential) to experience life-changing wealth, then do not sell your coins unless you absolutely have to. Pretty simple.

I love that line I saw somewhere on these forums...something like: "By the time I'm ready to sell my coins, I won't have to" Makes me smile, big.

Thought you guys might like this video, if you have not seen it.

http://www.finextra.com/Video/Video.aspx?videoid=513

[leemar]

After 3 years, I still get a thrill sending coins across the globe almost instantly with virtually no fee or controls. Yee Ha! That freedom is contagious and addictive. Once you get a taste of that fresh air, the fiat world of constraint and invasive body searches will never do again. And as you guys know, I'm not the only one who feels that way. Think there might be a few million (billion) others who feel similarly?

Going from fiat to Bitcoin reminds me of this scene in Contact, they made her the seat to protect her because they didn’t trust the aliens' plans.

Watch from 3 minutes  

http://www.youtube.com/watch?v=scBY3cVyeyA

[Johnny Bitcoinseed]

In my view and your own thoughts will vary:

Why sell for a quick one-off profit that yes, is a good profit but in the scheme of things will not be a life changer for you?  What's a couple hundred dollars (minus taxes - you ARE paying taxes on your gains aren't you?) when there is the possibility your bitcoins could be worth tens of thousands of dollars at some point?

Get yourself some bitcoins, buy stuff with some, keep some.  But don't cash out just yet for a few baubles when there is a reasonable chance you could have a tremendous return five or ten years from now that may be life changing as in cars, houses, retiring early.

But yes, if you do cash out now that makes bitcoin all the cheaper for the rest of us to obtain so we really do not mind.  Up to you.

[bitrider]

After 3 years, I still get a thrill sending coins across the globe almost instantly with virtually no fee or controls. Yee Ha! That freedom is contagious and addictive. Once you get a taste of that fresh air, the fiat world of constraint and invasive body searches will never do again. And as you guys know, I'm not the only one who feels that way. Think there might be a few million (billion) others who feel similarly?

Going from fiat to Bitcoin reminds me of this scene in Contact, they made her the seat to protect her because they didn’t trust the aliens' plans.

Watch from 3 minutes  

http://www.youtube.com/watch?v=scBY3cVyeyA

very cool. yup, that seems about right. 

[Keyser Soze]

Any idea how large ACH withdrawals can be? Can you do a $50K ACH withdrawal?

I don't see why not, though I've never personally done one that large. You can get easily verified to do transactions of $100k USD+

It really depends on what limits their bank sets for them. Banks typically will use some kind of risk model or analysis to determine if the requested limits are appropriate. That being said, setting up ACH capabilities for an exchange would not be easy. Many banks would not even entertain the idea.

[culexevilman]

Sell a few coins if you need/want to use the money right away (assuming you can't spend the coins directly instead), but you never, never go full fiat. That shit is dangerous man! It could be taken from you at any time, you can't move around with it, etc. Why would you want fiat??

true，words of truth right there...

[nobbynobbynoob]

I love that line I saw somewhere on these forums...something like: "By the time I'm ready to sell my coins, I won't have to" Makes me smile, big.

Aww thanks! That was my line, though I'm surely not the first to think of it.

[BitchicksHusband]

That's just what I said to myself the other day.  It's like that realization just hits you after a while.

[mgio]

Some things:

- Coinbase is by far the easiest and most convenient way to buy and sell your coins if you are in the US.

- Prices on coinbase are reasonable for both buying and selling

- There is no other exchange you can transfer money to electronically anymore. This might change by the end of Nov if CampBX starts accepting ACH deposits like they claim they will.

- The CampBX site is horribly slow and their orderbook is incredibly shallow. You can't buy or sell any medium-size amounts of coins without moving the market. So it doesn't matter if you can do a $50k ACH or not. You really don't want to ever buy or sell more than 10 coins there at a time.

[bitrider]

I love that line I saw somewhere on these forums...something like: "By the time I'm ready to sell my coins, I won't have to" Makes me smile, big.

Aww thanks! That was my line, though I'm surely not the first to think of it.

Ahh... well done Morpheus. Could not remember who had posted it.

How about a tee shirt? With a big gold bitcoin...

"When we are ready to sell our bitcoins...

on the back:

"We won't have to."

Not bad 

And thanks!

[kentrolla]

Most business people believe bitcoin's outcome if very likely a binary one.  Either very much bigger than today or forgotten and worthless.

At a market cap of 2.5bn for what might be disruption of the world financial system that could not be much less significant a number.  Does this mean XBT goes to 1000x eventually, who knows but to talk about current number as being 50% over or under valued is just silly.  Apple have 150bn on their balance sheet and don't know what to do with it

If I had bought in 2010 for a few cents and just sold to make a 1000x profit in 3 years I might also be inclined to warn people on price but wouldn't presume that I have timed some sort of top in the market.

Very good post, I very much agree to this. There are a lot of bullish signs, but there are negative ones as well.

And prices are high with a lot of coins looking to find new owners at higher prices....

Lets see how it´s going to turn out, either way, definetly entertaining...

we don't take kindly to bears 'round herr.