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Author Topic: damn... just sold all my btc for 8.7 and now it's 9.5  (Read 2778 times)
airdata
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August 03, 2011, 09:35:40 PM
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Whoops.
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Oldminer
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August 03, 2011, 09:39:16 PM
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I don't think you have much to worry about. Sure you could have made more but you still stand to make a profit as the price drops lower.

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August 03, 2011, 09:49:56 PM
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Disregarded females and sold all your bitcoins, so what's left? Tears and a shaky hand Smiley

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August 03, 2011, 09:51:29 PM
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Verry bad move ! Thanks to psihology of people like you getting so scared when price drop speculators gain profit... It was said thousand of times if pople knows their interest things will look better, but here are plenty of kids that surely dont know anything about value of money and thing this is a game of mining an selling at any price...
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August 03, 2011, 10:16:53 PM
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LOL.  You sold at 8 and change...it sucks but that is life when playing a market.

I sold some at 13.13 when I traded it for silver coins.  Now it looks like I made a great deal.

Striking it rich in Bitcoin is no longer an option...I do it for fun.
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August 03, 2011, 10:49:05 PM
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I sold some coins at 13,7 and withdrew $... Now i wish to be able to reverse withdraw and to buy some ceap coins but...
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August 03, 2011, 11:14:39 PM
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I've sold hundreds of BTC at under $1. I deeply regret it now. Oh well. I learned my lesson Smiley

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Yannick
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August 03, 2011, 11:23:00 PM
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Houdini
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August 03, 2011, 11:25:13 PM
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What's stupid is that the price is 9.5 and I can't find anyone to sell to me for 10.5 !  Angry
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August 03, 2011, 11:30:20 PM
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Hey don't feel too bad... I sold Half my BTC at 8.9
I was gonna sell since 9.9 when the damn fake 10.00 wall vanished, but it crashed so fast + Mt.Gox logged me off!!!  I've been Goxed!!!
... anticipating a flash crash down to 7.xx, and then.... swooop! back to over 10!!!

Then.... Needing to buy them back... I buy back at 10.1  !  Then it dropped again to 9.x

God damn I'll never day trade bitcoin again..
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August 03, 2011, 11:30:58 PM
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Oh well. I learned my lesson

which is?

Hindsight is a jerk?

Look at yesterdays lotto numbers I wish I had played them too.

you cant really look at the past and let it get you down.

and really you shouldnt just base your trades on market movement. It is a variable to look at for sure but the best thing you can do is be as informed as you can be, and make the best educated guesses on that information.
Most people dont sell at the peak or but at the bottom, it's just a fact of life. WE get as close as we can and we are happy.

For me the bad news (mybitcoin and that polish exchange I cant ever remember its name) said look for a big drop.. but bitcoin is still chugging along, the mining hash rate still rising, and development is chugging along and these forums get busier every day. Ruxum is starting to take asian currencies, in a week many european currencies. And their are various trading choices coming soon..shorting, derivatives.. etc. WE are probably going to take a beating all week, and prices wont recover fast, but this is no reason to be down, it's like a second chance to buy that lotto ticket. You might think I am crazy, but then again you might read this a year from now and say, "WHY THE HELL DIDNT I LISTEN TO THAT STUPID TALKING COW!".. then again you may be saying the opposite, hindsight is a jerk.

mooo for rent
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August 03, 2011, 11:41:17 PM
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Oh well. I learned my lesson

which is?

Which is, I'm here for the long term because Bitcoin solves some hard problems in a unique way and thereby has the potential to be a significant positive force in society. When I say significant, I mean the sort of significance that historians write whole series of books about. I have absolutely no reason to sell unless I desperately need fiat money for some reason. (It could happen...)

For those of us who are here because we believe Bitcoin is worth having, selling them is not usually the right thing to do. Spending them, on the other hand, works well enough. But it's incumbent on me (and anyone else who feels so inclined) to do whatever I can to ensure Bitcoin succeeds.

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August 04, 2011, 01:37:39 AM
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For me the bad news (mybitcoin and that polish exchange I cant ever remember its name) said look for a big drop..

From my understanding of the situation, the Polish bitcoin exchange lost its coins through deletion of the wallet file by Amazon's virtual machines.  The coins weren't stolen and dumped into the market.  They are gone for good and not coming back.  This will be one of the fatal long term flaws of bitcoins and will ensure we can never see anywhere near 21 million created and active.

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August 04, 2011, 01:51:50 AM
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This will be one of the fatal long term flaws of bitcoins and will ensure we can never see anywhere near 21 million created and active.

It matters not the number of units of currency in circulation. Bitcoin would be just as viable with 200m coin limit, or 2m coin limit. So long as it's divisible enough to enable small purchases, the total number of coins is completely irrelevant so long as money supply is predictable and stable (criteria which Bitcoin satisfies very well).

Loss of coins is bad for the person who held the coins, not for the economy at large (with the caveat of short-term psychological issues).
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August 04, 2011, 01:58:43 AM
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Which is, I'm here for the long term

good for most trading..day trading is hard on the heart.

sell if you think bitcoin is over with, if you think it will die, otherwise just enjoy the ride, these drops are mostly meaningless to the long term outlooks.(which still could be good OR bad, but that's up for you to divine)

mooo for rent
indio007
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August 04, 2011, 02:03:15 AM
 #16

The downward trend started at roughly 14.50. I think someone tried to corner the market. Now they are going to hold the coins going up to probably 20 before they sell. I'm thinking about 10 days from now it will be there.
kiwiasian
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August 04, 2011, 02:58:47 AM
 #17

It's ok.

Think about the volume of sale trades that also occured at 8.7--you're not alone.

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Houdini
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August 04, 2011, 03:03:34 AM
 #18

day trading is hard on the heart.
Since finding about bitcoins I have gained a new understanding of why most stock brokers gulp down pills against stomach acid and pay expensive shrinks...  Undecided


The downward trend started at roughly 14.50.
It started at 17 actually... Or 20 if you wanna go further back. I bought at 16.9 and sold for less later.
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August 04, 2011, 03:07:27 AM
 #19

Your up now  Grin! This will be one epic rally folks.

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Houdini
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August 04, 2011, 03:20:26 AM
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Your up now  Grin! This will be one epic rally folks.
Nope, I'm thinking it will hover around 10$ for a few days. Even then the longterm bottom may not yet be reached. It may drop to 5$ before starting another longterm rise.
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