Why didn't you sell?

[Rampion]

US citizens

This is bad - feeling sorry for you. Why not leaving while you can?

because some of us arent allowed to leave or cant afford it.

You can't afford leaving the US after having sold 30k coins at $145?

Damn.

[MoreFun]

First I thought OP is experienced trader in BTC, now when knowing he doesn't even own coins this is a BS and noone new should listen to this, altough it sounds very simple and profitable.

[zby]

I don't know if that was already mentioned in this thread - but there is yet another possibility - I did not sell, because I had sold a day earlier

[sinner]

if I sell and make a "profit", i owe fucking taxes (in USSA, cant escape IRS).  i'm long term bullish and dont know how to time the market.  so not only would i be gambling on predicting short term moves of the most volatile asset in the world, but even if im right i owe taxes and now the upside isnt as great.  if i could predict the market like masterluc id have sold.

[PenAndPaper]

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.

I dont sell because having Bitcoins or USD at exchange seems risky to me. I will wait for safer options

It's risky and sometime it's painfully slow but don't forget that the economy of bitcoin is built around those exchanges. Everyone talking about the bitcoin price after all not about how great bitcoin is as a payments network.

[JayB]

First I thought OP is experienced trader in BTC, now when knowing he doesn't even own coins this is a BS and noone new should listen to this, altough it sounds very simple and profitable.

Reading my initial post carefully you would've figured out I'm not an experienced trader in BTC. I wasn't tryina give you a lesson; I had a question mark at the end of my sentence suggesting I was asking a question....

Anyways I may not be an experienced BTC trader but I have good knowledge regarding financial markets since I did my studies there, but I'm more into theory than practice, and that's why I asked my question to get more insights into the matter.

[sgbett]

ITT someone with no bitcoin tells everyone they should have sold at $1200 *after* the fact.

Obvious troll is obvious.

[JimboToronto]

ITT someone with no bitcoin tells everyone they should have sold at $1200 *after* the fact.

Obvious troll is obvious.

No kidding.

[JayB]

ITT someone with no bitcoin tells everyone they should have sold at $1200 *after* the fact.

Obvious troll is obvious.

So you have no right to give your opinion regarding airplanes unless you own an airplane? this is what your logic is telling me.

Experts regarding subject matters don't need to own the thing they are experts on...just giving you some facts about life

On top of that...I never told you what to do. I'm asking a question. See my sentence has a question mark at the end. Gosh...

[fluidjax]

Well now it looks like you've got a good understanding about trading and how to increase your BTC holding, I suggest you try trading full time. Go forth and make your fortune.
Just make sure you come back and let us know how you get on.

[sgbett]

ITT someone with no bitcoin tells everyone they should have sold at $1200 *after* the fact.

Obvious troll is obvious.

So you have no right to give your opinion regarding airplanes unless you own an airplane? this is what your logic is telling me.

Experts regarding subject matters don't need to own the thing they are experts on...just giving you some facts about life

On top of that...I never told you what to do. I'm asking a question. See my sentence has a question mark at the end. Gosh...

You are an idiot?

[bitcoin carpenter]

Most of us have been where the OP is wondering how no one is seeing what we are seeing.

Then we try.... sure we catch a few get trades but after a few months we realize that we would be near the same place if we had done nothing besides buying and holding

[JayB]

ITT someone with no bitcoin tells everyone they should have sold at $1200 *after* the fact.

Obvious troll is obvious.

So you have no right to give your opinion regarding airplanes unless you own an airplane? this is what your logic is telling me.

Experts regarding subject matters don't need to own the thing they are experts on...just giving you some facts about life

On top of that...I never told you what to do. I'm asking a question. See my sentence has a question mark at the end. Gosh...

You are an idiot?

In an absolute or a relative sense?

I would say I am an idiot in the eyes of an absolute one.

If you didn't get it, don't worry you're not expected to.

[I_bitcoin]

Ignoring the troll part of the post and answering the title "Why didn't you sell?".

I didn't sell because I believe Bitcoin is going to be much much more than what it is today.   To be more specific, I believe the value is significantly greater than $1k for what the future holds.   

That said, I don't believe the dollar is going away any time soon and even if it does Bitcoin is not yet ready to take on the transaction load.   We have much work to do with the protocol before we can equate to a Visa or even a Paypal.

[sgbett]

Most of us have been where the OP is wondering how no one is seeing what we are seeing.

Then we try.... sure we catch a few get trades but after a few months we realize that we would be near the same place if we had done nothing besides buying and holding

OK, I admit I am being a bit harsh on OP.

Here is the thing the question as its phrased is black and white. OP suggests you can predict where the top is (or near enough), that you can know that after that top there will be a significant enough selloff such that it was worth selling, that you can predict where the short term bottom is (or near enough) to be able to rebuy. He fails to see that if this doesn't go 100% to plan then you could very well end up in a worse position, and fails to see just how unlikely it is that it will go 100% to plan.

All that stuff seems pretty obvious to me, which is why I get a bit cranky when people suggesting not selling is a bad decision, because there was some outside chance that I could have profited from a lucky trade.

[T.Stuart]

ITT someone with no bitcoin tells everyone they should have sold at $1200 *after* the fact.

Obvious troll is obvious.

So you have no right to give your opinion regarding airplanes unless you own an airplane? this is what your logic is telling me.

Experts regarding subject matters don't need to own the thing they are experts on...just giving you some facts about life

On top of that...I never told you what to do. I'm asking a question. See my sentence has a question mark at the end. Gosh...

You are an idiot?

In an absolute or a relative sense?

I would say I am an idiot in the eyes of an absolute one.

If you didn't get it, don't worry you're not expected to.

"I'm an absolute idiot!" Refreshing honesty on the forums!  

[JekyllIsland]

I guarantee you won't end up with more everytime. If you truly think you can be my guest, nobody cares to hear you brag without anything to show for it. I'm sure that the majority of people here have more coins then you. There are whales that can move the market anyway they want, what will you do then? Cry?

Of course you'll get more coins with "your method"( ), but you also risk having less coins. Plus you have to pay capital gains.

I already made a good amount daytrading alt-coins and i'm just going to sit back for a little. Life is fun sometimes too. I'm sure i'll trade more in the future, for now I’m just buying.

How about you stick to your strategy and not be a dick while doing it, capiche?

[JayB]

Most of us have been where the OP is wondering how no one is seeing what we are seeing.

Then we try.... sure we catch a few get trades but after a few months we realize that we would be near the same place if we had done nothing besides buying and holding

OK, I admit I am being a bit harsh on OP.

Here is the thing the question as its phrased is black and white. OP suggests you can predict where the top is (or near enough), that you can know that after that top there will be a significant enough selloff such that it was worth selling, that you can predict where the short term bottom is (or near enough) to be able to rebuy. He fails to see that if this doesn't go 100% to plan then you could very well end up in a worse position, and fails to see just how unlikely it is that it will go 100% to plan.

All that stuff seems pretty obvious to me, which is why I get a bit cranky when people suggesting not selling is a bad decision, because there was some outside chance that I could have profited from a lucky trade.

I forgive you.

Thing is, we all agree the market dynamics of a Bitcoin is very different than that of stocks in a mature market. Right?

Here's something that is obviously happening to Bitcoin value: It is so volatile that its value is changing by a magnitude of 40 - 50% to either negative or positive news. Right?

My argument was that volatility is something that can be taken advantage of, which is in the scenario I have proposed.

I gave other reasons as to why this scenario would not work, but it seems you guys dismissed all of them and only focused on the initial one.  

Most of you told me that you either couldn't find a seller or that you were afraid you couldn't buy it back. Well guess what that satisfies the second scenario I've laid down which suggest that market illiquidity could be a factor.

Some other said because you can't predict. Well there's nothing to predict here. I clearly said "after the news came out", is there any prediction to be made here? value of a Bitcoin was certainly going down. That's like a company announcing that it didn't meet its targets for a specific quarter. In how many directions could its stock value go right after the news? ONLY ONE --> Down

Am I missing anything here?

It seems all you want to do is just defend the position of Bitcoin without being rational about it or having an open minded discussion. You believe in Bitcoin, fine that's great! Good for you! I hope you'll get rich because of it. But this topic has nothing to do with what you believe in the long term or about Bitcoin. Right?

[Amph]

i didn't sell, cuz there wasn't any guarantee that the price was falling

it easy to speak when thing already happened

[I_bitcoin]

Am I missing anything here?

It seems all you want to do is just defend the position of Bitcoin without being rational about it or having an open minded discussion. You believe in Bitcoin, fine that's great! Good for you! I hope you'll get rich because of it. But this topic has nothing to do with what you believe in the long term or about Bitcoin. Right?

Sorry, your topic asked why we didn't sell.  I communicated as such?   If you don't sell because you believe it will be much more than it is today why does that not count?