Why didn't you sell?

[zeroday]

#1, because I love making bad decisions and I made me rich 

[JayB]

#1, because I love making bad decisions and I made me rich 

Good for you I hope you'll always be

But you didn't give me a rational answer

[bg002h]

...because I don't need dollars...

[beetcoin]

also another reason: you did not have a plan to cover taxes. i haven't even owned my coins for a year yet too.

[embracebitcoin]

because you cant predict how far it crashes, and even if it crashes in the first place, because bitcoin is very volatile and unpredictable. It may as well have been a minor dip and went even higher.
It's always easy to draw conclusions after the fact. Seems to be common amongst traders.

[bryant.coleman]

I tried my luck with short selling the day before yesterday and got my fingers burned. I am never going to do it again.

BTC is a wild currency. No one can predict when the prices will go up or down.

[lindatess]

You probably wouldn't have been able to sell through a common channel.

Furthermore, high fees would have been required (both bitcoin tx and fiat fees).

Furthermore, cashing out of fiat would be very costly and would undoubtedly be delayed.

I did however sell some on localbitcoins at $800 a piece when the price was $1200.

[bryant.coleman]

I did however sell some on localbitcoins at $800 a piece when the price was $1200.

You sold your coins for 67% of the actual rate? That's horrible. We had one vendor in Bitmit, who would mail banknotes in exchange for BTC, for a paltry 4% commission. Even after taking in to account the postal charges, the seller would get 94% of the going rate.

Also, there were a few buyers in Localbitcoins who paid using Western Union. They paid 90% of the going rate.

[Rampion]

Because I already cashed in so much fiat profit by selling aprox. 10% of my BTC a couple of weeks ago that I don't need to sell any more Bitcoins in the next 3 years... Unless we'll hit $3,000 - then ill sell another 10%.

No need to risk your coins by day trading. If you have a decent volume slippage kills you, and fees are insanely high too.

[CounterStrike]

You probably wouldn't have been able to sell through a common channel.

Furthermore, high fees would have been required (both bitcoin tx and fiat fees).

Furthermore, cashing out of fiat would be very costly and would undoubtedly be delayed.

I did however sell some on localbitcoins at $800 a piece when the price was $1200.

I will buy from you for $1000 a piece when the price is $1200... !!!!

[DaSheep]

because I was buying and there was no reason for a crash since the china news wasn't bad.. just misunderstood.

I have huge balls, too.

[ScrapOfCat]

I didn't sell because this is penny ante bullshit.

I didn't buy bitcoins to fuck around.

[zubelutte]

For those who had Bitcoins right before the Chinese Government's announcement this week and didn't sell them right after the announcement, why didn't you? I'm just curious.
 

If you think you will always see profit trading, your wrong. This time you was lucky, so cheer it

[piramida]

Now I can think of 4 possibilities:

1- You thought the price will go back up and so got hold of your Bitcoins --> Very bad decision
2- You couldn't sell them due to the lack of buyers --> Plausible but unlikely
3- You are emotionally attached to your Bitcoins so you don't want to lose them no matter what --> You need a psychologist
4- When you found out about it, it was already too late --> I forgive you

See, if you sold (large portion) on the presumption that bitcoin necessarily would go down due to CNB remarks, you were gambling - because bitcoin didn't, for at least 24hrs. In the same timespan, Zimbabwe could have announced that bitcoin becomes it's national currency and suddenly the only way to obtain investable quantities of elephant poop is with bitcoins and the price would rise instead. Or the market could have almost totally ignored the news (as it did, initial 20% dip and immediate recovery was all that happened) and then some investors caused the crash by taking too much profit. So you never know, and if you don't actually have a way to predict the immediate movements of bitcoins with above-50% certainty, it's a gamble. So it's much safer to just buy the dips, unless the longterm trend would've turned down, but in that case we'd be at zero by now, since the only way it could happen if bitcoin is not usable anymore.

[Wilhelm]

Because it's a bitch moving your money out and back into cold storage.

[ScrapOfCat]

High sight is always 20/20. I love how every dip is becomes "obvious". Every day there is a "ITS GOING TO CRASH" threads popping out, and when it finally does, someone is happily telling you "TOLD YOU SO", even when he was all other times.

Even if possibility was there, i am not a daytrader and not comfortable converting to fiat and starting and graphs all day long.

+1

Good luck to the time travelers.

[bizz]

I didn't sell because:

a) Crypto is better & easier to move/store than gold/silver.
b) World is headed for hyperinflation.

Cheers

[GigaCoin]

Now I can think of 4 possibilities:

1- You thought the price will go back up and so got hold of your Bitcoins --> Very bad decision
2- You couldn't sell them due to the lack of buyers --> Plausible but unlikely
3- You are emotionally attached to your Bitcoins so you don't want to lose them no matter what --> You need a psychologist
4- When you found out about it, it was already too late --> I forgive you

See, if you sold (large portion) on the presumption that bitcoin necessarily would go down due to CNB remarks, you were gambling - because bitcoin didn't, for at least 24hrs. In the same timespan, Zimbabwe could have announced that bitcoin becomes it's national currency and suddenly the only way to obtain investable quantities of elephant poop is with bitcoins and the price would rise instead. Or the market could have almost totally ignored the news (as it did, initial 20% dip and immediate recovery was all that happened) and then some investors caused the crash by taking too much profit. So you never know, and if you don't actually have a way to predict the immediate movements of bitcoins with above-50% certainty, it's a gamble. So it's much safer to just buy the dips, unless the longterm trend would've turned down, but in that case we'd be at zero by now, since the only way it could happen if bitcoin is not usable anymore.

well said +1

[GriTBitS]

I didn't sell because I couldn't care less about the exchange rate or whether it will go up or down.

I completely agree! I don't care about the price. I buy stuff cuz I believe in it. Just because someone that had blocks of 5k coins and was selling them back to back and running ddos attacks on all exchanges. Pretty evident that was just to create fear in the community and when you buy for quality and not for the price. Quality always lasts!

[marcovaldo]

I didn't sell because:

a) I will never sell (until we reach 100k/btc at least)

Best regards.