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Author Topic: Are all your friends telling you to cash out, too?  (Read 8094 times)
PenAndPaper
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November 29, 2013, 09:44:56 AM
 #101

Isn't it weird that noone has any friends that are into bitcoins.   Roll Eyes


I have only ever been ever to convince 3 people to buy in, one at 100$ 2 at 680$.... They are very happy right now!  The rest are still saying nah! I'm like dude its going to a million, they say "really u think". I say Yes, with total confidence. Not sure if they think im lying or something.

You are lucky. I haven't been able to convince anyone so far to buy and when we go out i m making them bored because i talk a lot for bitcoin and they just don't care enough Tongue
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November 29, 2013, 09:52:16 AM
 #102

i got one guy to buy a mining rig. but no one to actually buy BTC. but then again, i can't really say it was me who got him into bitcoins.. it was the explosively bullish bitcoin singularity that did it.
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November 29, 2013, 12:09:40 PM
 #103

Guys sorry for the patronizing tone but bitcoin is not a get-rich-quick scheme. You should have bought litecoins one month ago (and sold two days ago) if that was your intention.

This is about a revolutionary experiment that you are getting front seats for.
It is a big bet on your wealth indeed - but the point is not "cashing out", at least not in fiat. It is about getting rid of fiat in our daily lives.
I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

As an exercise try to measure the fluctuation in price of things you want - in millibits or in microbits not in fiat. Might be a car. A house. A laptop. A journey. A loaf of bread.
Then decide which currency you want to hold today.


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November 29, 2013, 12:14:54 PM
 #104

Guys sorry for the patronizing tone but bitcoin is not a get-rich-quick scheme. You should have bought litecoins one month ago (and sold two days ago) if that was your intention.

How quick? 2 bubbles in a year I consider it quick enough

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November 29, 2013, 12:21:38 PM
 #105

It is a big bet on your wealth indeed - but the point is not "cashing out", at least not in fiat. It is about getting rid of fiat in our daily lives.
I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

It's a revolutionary experiment where you think that you have front seats but you don't.
You just hoard and wait from others to make things happen.
If you want front seat you should invest some money in services around the ecosystem and in order to do that you must convert some of your coins to fiat.
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November 29, 2013, 12:24:34 PM
 #106

Guys sorry for the patronizing tone but bitcoin is not a get-rich-quick scheme. You should have bought litecoins one month ago (and sold two days ago) if that was your intention.


I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

You think that bitcoin is not a get-rich-quick scheme, but you are hoarding and speculating on a price increasement to acquire more stuff with it?
Isnt' that the decription of a get-rich-quick scheme -> do nothing and want MOAAAAR?

< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
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November 29, 2013, 12:28:57 PM
 #107

Hoarding is what will cause the price to fall

the currency needs to move around constantly... This will cause the price to rise
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November 29, 2013, 12:30:46 PM
 #108

Guys sorry for the patronizing tone but bitcoin is not a get-rich-quick scheme. You should have bought litecoins one month ago (and sold two days ago) if that was your intention.


I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

You think that bitcoin is not a get-rich-quick scheme, but you are hoarding and speculating on a price increasement to acquire more stuff with it?
Isnt' that the decription of a get-rich-quick scheme -> do nothing and want MOAAAAR?

One scheme is also get-rich-slow.

RteI.CO .1st.Auction.&.Experts.Platform. for ICOs
EXPERTS REVIEWS OBJECTIVE RATINGS ICO PROJECTS ADVISORS IDEAS TEAMS
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November 29, 2013, 01:33:54 PM
 #109

Guys sorry for the patronizing tone but bitcoin is not a get-rich-quick scheme. You should have bought litecoins one month ago (and sold two days ago) if that was your intention.


I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

You think that bitcoin is not a get-rich-quick scheme, but you are hoarding and speculating on a price increasement to acquire more stuff with it?
Isnt' that the decription of a get-rich-quick scheme -> do nothing and want MOAAAAR?

Dude dunno how you manage your savings but one day you'll be useless for work. If by then you haven't saved something for retirement then at best you will be a poor parasite living in a socialist country that will tax honest workers in order to provide you with basic income. If that's not OK with you then spend what you need and hoard the rest - see that stash will come handy one day. Unless you die young. But you cannot know. Unless you know when you are going to die. In which case don't hoard it and spend it all. But if you hoard then you want to own valuable assets, unless you are stupid. On whether bitcoin is going to be valuable it's up to you to decide.

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Shermo
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November 29, 2013, 01:42:01 PM
 #110

"Why dont you AT LEAST cash out your initial investment?!  You're crazy!  So what if its 40% of your current balance, and you'll cut your coin count in half!!"

Me:  You don't get it.

I had this repeatedly from my girlfriend. Sold 40BTC to recover £4500, was left with about 30BTC, this was only about a month or so ago... WORST MISTAKE EVER!
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November 29, 2013, 02:08:13 PM
 #111

If you want front seat you should invest some money in services around the ecosystem and in order to do that you must convert some of your coins to fiat.

No I must not. Converting back to fiat and waiting for the fiat to reach my bank is such a cumbersome and slow process that I don't want to do that unless I really have to. Instead I favour merchants that accept coins over the ones that only accept fiat. As of now they can handle the conversion themselves through their favourite payment processors. But I guess that some of those merchants already want to keep their balances in btc.

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November 29, 2013, 02:10:18 PM
 #112

Guys sorry for the patronizing tone but bitcoin is not a get-rich-quick scheme. You should have bought litecoins one month ago (and sold two days ago) if that was your intention.

This is about a revolutionary experiment that you are getting front seats for.
It is a big bet on your wealth indeed - but the point is not "cashing out", at least not in fiat. It is about getting rid of fiat in our daily lives.
I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

As an exercise try to measure the fluctuation in price of things you want - in millibits or in microbits not in fiat. Might be a car. A house. A laptop. A journey. A loaf of bread.
Then decide which currency you want to hold today.



it can't be helped.. people are hungry for more and more money with investing little effort  Shocked
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November 29, 2013, 02:30:57 PM
 #113

It is a big bet on your wealth indeed - but the point is not "cashing out", at least not in fiat. It is about getting rid of fiat in our daily lives.
I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

It's a revolutionary experiment where you think that you have front seats but you don't.
You just hoard and wait from others to make things happen.
If you want front seat you should invest some money in services around the ecosystem and in order to do that you must convert some of your coins to fiat.

You don't need fiat to develop an internet service everything you could need can be had for BTC.  Servers, programmers, designers, even the surety bond for becoming a money transmitter can be held in BTC in most states (although you will need more BTC than the equivalent fiat because of the volatility).

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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P_Shep
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November 29, 2013, 03:06:13 PM
 #114

I just got one four letter word from my dad:

SELL
PenAndPaper
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November 29, 2013, 03:34:01 PM
 #115

It is a big bet on your wealth indeed - but the point is not "cashing out", at least not in fiat. It is about getting rid of fiat in our daily lives.
I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

It's a revolutionary experiment where you think that you have front seats but you don't.
You just hoard and wait from others to make things happen.
If you want front seat you should invest some money in services around the ecosystem and in order to do that you must convert some of your coins to fiat.

You don't need fiat to develop an internet service everything you could need can be had for BTC.  Servers, programmers, designers, even the surety bond for becoming a money transmitter can be held in BTC in most states (although you will need more BTC than the equivalent fiat because of the volatility).

While it is true that you can find all those things by paying in BTC you certainly narrow down your options that way.
For every service that accepts BTC i can name 100 that are better and sadly accept only fiat. (Except wordpress which is both top notch and accepts bitcoins)
Also there are many things, that are critical for a business to success, that you can't just buy with bitcoins, like google services or social media ads etc.
Hopefully things are going to change but not for a while ...
hilariousandco
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November 29, 2013, 03:37:19 PM
 #116

I just got one four letter word from my dad:

SELL

Did you give him any four letter words back?

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November 29, 2013, 03:40:49 PM
 #117

All the bearishness just means there is still more money on the sidelines.  Good sign.
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November 29, 2013, 03:45:56 PM
 #118

I just got one four letter word from my dad:

SELL

Did you give him any four letter words back?

Certainly did:

NOPE
notme
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November 29, 2013, 03:53:58 PM
 #119

It is a big bet on your wealth indeed - but the point is not "cashing out", at least not in fiat. It is about getting rid of fiat in our daily lives.
I hoard coins because the price of real stuff measured in bitcoins is going down. And it makes sense to me to hoard something that acquires purchasing power over time.

It's a revolutionary experiment where you think that you have front seats but you don't.
You just hoard and wait from others to make things happen.
If you want front seat you should invest some money in services around the ecosystem and in order to do that you must convert some of your coins to fiat.

You don't need fiat to develop an internet service everything you could need can be had for BTC.  Servers, programmers, designers, even the surety bond for becoming a money transmitter can be held in BTC in most states (although you will need more BTC than the equivalent fiat because of the volatility).

While it is true that you can find all those things by paying in BTC you certainly narrow down your options that way.
For every service that accepts BTC i can name 100 that are better and sadly accept only fiat. (Except wordpress which is both top notch and accepts bitcoins)
Also there are many things, that are critical for a business to success, that you can't just buy with bitcoins, like google services or social media ads etc.
Hopefully things are going to change but not for a while ...

You don't need 100 providers and "better" is subjective.  Accepting what I have to pay with is a big plus.  The only way the dinosaurs will adapt is when they start to lose business to the providers who do accept real money.  There is no way I would sell btc to develop a bitcoin related service unless the government forced my hand with taxes or licenses.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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November 29, 2013, 04:03:12 PM
 #120

I had this repeatedly from my girlfriend. Sold 40BTC to recover £4500, was left with about 30BTC, this was only about a month or so ago... WORST MISTAKE EVER!

But buying right before big correction would be worst mistake ever as well.

The fact is trend is upward, but no one knows the price in next month, so every can make worst mistake ever. Though buying is always bit safer bet in long term upward trend
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