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Author Topic: Are all your friends telling you to cash out, too?  (Read 8094 times)
calian
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November 28, 2013, 02:40:44 AM
 #21

OP you could tell your friends that you accidentally deleted your coins.  Shocked That would shut them up.
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November 28, 2013, 02:55:08 AM
 #22

I keep telling mine not to cash out the casascius coins I gave them years ago... So far they've listened, if only because I won't help them do it, and I keep telling them that the coins are worth more than double intact.

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November 28, 2013, 03:10:05 AM
 #23

I keep telling mine not to cash out the casascius coins I gave them years ago... So far they've listened, if only because I won't help them do it, and I keep telling them that the coins are worth more than double intact.

Too bad someone at DEFCon fucked that up.  Casascius coins can be opened without destroying the hologram, so their resale value has plunged.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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November 28, 2013, 03:12:29 AM
 #24

I keep telling mine not to cash out the casascius coins I gave them years ago... So far they've listened, if only because I won't help them do it, and I keep telling them that the coins are worth more than double intact.

Too bad someone at DEFCon fucked that up.  Casascius coins can be opened without destroying the hologram, so their resale value has plunged.

Most of them have the highly collectible series 1 coins, I still see selling for pretty high.

Link tho? I haven't heard about this.

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BitchicksHusband
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November 28, 2013, 03:20:37 AM
 #25

I remember telling this kid to buy a few back when it was $5. He never did. I'm certainly not going to bring it up now.

Yeah friends were jumping up and down to sell at $400. It's like you're so eager to sell, no wonder you don't even have coins you can sell. That said we will correct and correct hard. In 2011 it went down 94% from the peak. I doubt we'll get lucky enough to see another one of those now but 50% down in an hour is realistic. A lot more people have become educated to see those as buying opportunities now though.

50% is possible from the current price.
even 75% is possible if we go to 2000 USD in a couple of days.

I have the feeling that this is the same sentiment as the moment we went through the 100 USD barrier. It was after a period of fast grow in value in a few weeks. We finally broke through 100 USD very fast. So maybe it is april all over again and we go to 2000? 2660? USD and than crash towards 500 USD...

Time will tell...

Too many people now.  We won't see another crash greater than 50% unless bitcoin never recovers.

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November 28, 2013, 03:37:21 AM
 #26

I have been mining since mid 2010. I spent as I wnet and reinvested in mining gear when BTC = $200. Insult to injury, I passed on my wife's endorsement to invest $1K when BTC was $2  Sad

I could have been a millionaire but I did what was right at the time.

Now with a fist full of coins (<5 BTC) I hang on with grim determination for the $100K per BTC mark.


i did the same thing, bought a mini rig instead of 3300 coins..... Can't undo that mistake!

Coinseeker
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November 28, 2013, 04:16:45 AM
 #27

My mother wants me to cash out, butI told her to shut up. She does not udnerstand why I dont do it. The reason? I dont want fiat Smiley


Maybe she just wants you to move out of her basement already.   Grin

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November 28, 2013, 04:35:36 AM
 #28

My mother wants me to cash out, butI told her to shut up. She does not udnerstand why I dont do it. The reason? I dont want fiat Smiley


Maybe she just wants you to move out of her basement already.   Grin

maybe that is partially true  Grin

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November 28, 2013, 04:46:01 AM
 #29

I keep telling mine not to cash out the casascius coins I gave them years ago... So far they've listened, if only because I won't help them do it, and I keep telling them that the coins are worth more than double intact.

Too bad someone at DEFCon fucked that up.  Casascius coins can be opened without destroying the hologram, so their resale value has plunged.

Most of them have the highly collectible series 1 coins, I still see selling for pretty high.

Link tho? I haven't heard about this.

Here's the first link from a Google search for "casascius defcon": http://www.coindesk.com/defcon-hackers-crack-physical-bitcoin-casascius-coins/

It looks like there are lots of other sources you could explore too if you want.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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VincentX
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November 28, 2013, 04:47:42 AM
 #30

I'm not allowed to mention it anymore.

Jealousy, you see.
maurya78
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November 28, 2013, 04:49:01 AM
 #31

Nope, they are asking me how they can get their hands on some coins.. Wink

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November 28, 2013, 05:03:06 AM
 #32

I have lied and told people I sold to get them to shut up, although I have sold a very small percentage recently and may sell more and attempt to buy back at lower prices once this trend breaks.

I also made the mistake of telling them how much I bought.  At these prices I don't really want them to know how much money I have.  Frankly, I didn't expect the price to go this high this fast.

Counterfeit:  made in imitation of something else with intent to deceive:  merriam-webster
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November 28, 2013, 05:10:04 AM
 #33

My friends keep telling me to cash out. Now they tell me to buy Litecoins  Grin Grin
I guess in a way they think better of crypto currencies now  Tongue
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November 28, 2013, 05:16:54 AM
 #34

It's funny how bitcoin changes your perception of what it means to "cash out."  Cash out to what??  

I am basically following Risto's Pietila's "SSS" plan [https://bitcointalk.org/index.php?topic=345065.0] in which one diversifies 10% of his holdings ever time the price of bitcoin doubles.  Following this plan, you'd already have re-couped (in dollar terms) your original investment if you bought before the current bubble AND you will still end up with about 1/3 of the coins you started with should bitcoin ever become a major international currency with a market cap similar to that of gold (i.e., 6 or 7 figure bitcoin price).  

I made one adaptation to Risto's SSS plan: since I still earn an income, I move a small percentage into bitcoin each paycheque.  It seems strange to be both a buyer and a seller of bitcoin, but I rationalize it as follows: I sell bitcoin only to "rebalance" my portfolio should my bitcoin holdings become too great, while I buy bitcoin with a % of the disposable income I have available for long term savings at the end of each month.

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
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November 28, 2013, 05:23:15 AM
 #35

I was one of those guys, If only I believed my brother in 2009...I would be rich today. So now I am hoping LTC will have the same succes,

Better to ride btc to 5-, 6- or 7-digits than hope that some altcoin will reach 4-digits first.

Wishful thinking is not your friend. Yes, we'd all like it to be 2011 all over again, but it's not gonna happen.

BittBurger
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November 28, 2013, 05:37:54 AM
 #36

I was one of those guys, If only I believed my brother in 2009...I would be rich today. So now I am hoping LTC will have the same succes,

Better to ride btc to 5-, 6- or 7-digits than hope that some altcoin will reach 4-digits first.

Wishful thinking is not your friend. Yes, we'd all like it to be 2011 all over again, but it's not gonna happen.


You gotta be careful with comments like these, because they get "bumped" back to the top to be mocked and laughed at 6 months later.

Pretty sure when I was buying Litecoin at $2.50 only 4 months ago, nobody on this forum (even the most optimistic) would believe LTC would be at $40 four months later.

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
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November 28, 2013, 05:43:56 AM
 #37

All bitcoin bulls are suddenly bearish about litecoin and resort to all the bitcoin bear arguments they used to reject.   Roll Eyes
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November 28, 2013, 06:03:54 AM
 #38

Keep in mind that as BTC is being traded @ $1000 there are hundreds if not thousands of new bitcoiners buying their very first bitcoins @ that price "$1000". These new Bitcoiners are the ones in turn of holding the flame and they wouldn't pass it up until the price reaches $1500 if not $2000. This is what really was going on over and over again. Whenever there are bears falling there are much more bulls joining the game. It does't matter which station you are going to take off, there are always someone taking your place to the next station.

Bitcoin true value can not be evaluated in money. Bitcoin true value is in what money is trying to evaluate. Money has proven to fail in such complex equation. Bitcoin is solid enough to replace money and gold.I understand that its too early to make such statement in 2013. In this case lets add one more statement: There is nothing that can hold BTC from being traded for $1,000,000. It all comes to how much its being used. It is being used now and in 2013 in general much more that how it has been used in 2012. There is no doubt that in the coming couple of years the number of Bitcoin users and services will be multiplied by at least 100 times. So it is ready very possible that BTC will reach 10,000 in 2014.

I still remember the days BTC was being traded for $2 then 7$ then 15$ then 35$ then 90$, .....

If you look just one year back: in November 2012 a lot of Bitcoiners cashed out @ 22$ to 50$ thinking that it wouldn't get any higher than such value in 2013. Guess what? Its November 2013 now and the price has advanced 20x. Oh yea $10,000 per 1 BTC in 2014 might happen in just the first half of the year.

Are you still thinking about cashing out?

By the way BTC @ $2000 today is almost the same as BTC @ $2 two years ago. I don't think that BTC will ever be traded lower than $2000 in 2014.
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November 28, 2013, 06:09:49 AM
 #39

By the way BTC @ $2000 today is almost the same as BTC @ $2 two years ago. I don't think that BTC will ever be traded lower than $2000 in 2014.

Only that it looks like people thingk that LTC @ $2 is the same as BTC @ $2 two years ago.
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November 28, 2013, 08:43:50 AM
 #40

I have been mining since mid 2010. I spent as I wnet and reinvested in mining gear when BTC = $200. Insult to injury, I passed on my wife's endorsement to invest $1K when BTC was $2  Sad

I could have been a millionaire but I did what was right at the time.

Now with a fist full of coins (<5 BTC) I hang on with grim determination for the $100K per BTC mark.


i did the same thing, bought a mini rig instead of 3300 coins..... Can't undo that mistake!

+1
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