Why didn't you sell?

[JayB]

I sold.  For sure.  Sold at $1107. Bought back in at $690.  Missed the bottom in both directions, but was happy to get SIXTY PERCENT MORE coins than what I had on Friday!  WooT!

Dude congratulations for being one of the smartest users on the forum.

This is exactly what I've been trying to explain to them all along and there you come and prove me right!

Thank you dude, thank you!

And for those who think this is gambling...well for sure you don't know what you're talking about.

Actually I would argue that holding your Bitcoins after the announcement would've been more gambling!

[JayB]

I sold.  For sure.  Sold at $1107. Bought back in at $690.  Missed the bottom in both directions, but was happy to get SIXTY PERCENT MORE coins than what I had on Friday!  WooT!

Dude congratulations for being one of the smartest users on the forum.

This is exactly what I've been trying to explain to them all along and there you come and prove me right!

Thank you dude, thank you!

And for those who think this is gambling...well for sure you don't know what you're talking about.

Actually I would argue that holding your Bitcoins after the announcement would've been more gambling!

Most speculators lose money.

Thing is you're not getting the point.

The ones speculating are the ones who didn't sell while it was going down. Why? because you were speculating that the price will go up again. <-- this is speculating by itself.

Selling after the announcement was a safer strategy. 

[elasticband]

If everyone sold, you would not be feeling like a winner If i had sold everyone would have lost, so thank me this time

[BitchicksHusband]

Many people panicked after the shut down of Silk Road and sold their coins.  The rebound was really fast though and then many had to buy in at a higher price and ended up with less coins. The China situation could have had the same response. Nothing is a sure thing with BTC.

For some of us with BTC in cold storage, it is a bit time consuming to get coins on exchanges.  Then the risk of trading them is a bit daunting.  It is not a guarantee that the price will drop much.  For those of us that do not want to end up with more fiat then BTC it is just not worth the risk.  We are thinking long term here.  To end up with $10,000 or more in fiat now would be stupid if the BTC we sold is worth $100,000 in a few months.  It is way less risky to just buy and hold.

And you have to understand that Bitchick came to this realization after daytrading .5 BTC for several months and ending up with...  .48 BTC.

Once you try it OP, you'll see just how "easy" it is.  I did buy and hold 2 more BTC this weekend since the price was significantly under $1000 and it's probably my last opportunity to do so.

[EvilPanda]

Actually I would argue that holding your Bitcoins after the announcement would've been more gambling!

LOL What announcement? Why would a sane person join this idiotic sell off caused by misinterpretation, and gox lag?

[DannyElfman]

i did sell. started selling at 1000 and ended when it crashed. 

[sgbett]

I sold.  For sure.  Sold at $1107. Bought back in at $690.  Missed the bottom in both directions, but was happy to get SIXTY PERCENT MORE coins than what I had on Friday!  WooT!

Dude congratulations for being one of the smartest users on the forum.

This is exactly what I've been trying to explain to them all along and there you come and prove me right!

Thank you dude, thank you!

And for those who think this is gambling...well for sure you don't know what you're talking about.

Actually I would argue that holding your Bitcoins after the announcement would've been more gambling!

Most speculators lose money.

Thing is you're not getting the point.

The ones speculating are the ones who didn't sell while it was going down. Why? because you were speculating that the price will go up again. <-- this is speculating by itself.

Selling after the announcement was a safer strategy. 

congrats on "winning" by redefining words to mean what you want them to. stand up job. I'm sure everyone who reads this thread will be teh smrtr for it.

[sgbett]

quick poll. hands up those people who lost BTC recently by holding?


...@....

[GigaCoin]

looks like those who sold and tried to "time" the bottom lost coins or gained fractions, all that time and stress for nothing lol

[600watt]

I sold.  For sure.  Sold at $1107. Bought back in at $690.  Missed the bottom in both directions, but was happy to get SIXTY PERCENT MORE coins than what I had on Friday!  WooT!

Dude congratulations for being one of the smartest users on the forum.

This is exactly what I've been trying to explain to them all along and there you come and prove me right!

Thank you dude, thank you!

And for those who think this is gambling...well for sure you don't know what you're talking about.

Actually I would argue that holding your Bitcoins after the announcement would've been more gambling!

you seem to be smart. so please tell me:

is this a bull trap right now, should i sell now to buy back later and cheaper ?

or is the btc going back to da moon for sure and i am missing the train if i don´t buy back now ?

facts are known now: chinese news wasn´t actually that bad at all, more of a market panic. or did a lot of buyers lost faith now and this is just a dead cat bounce back ?

op, let´s say you got 100 k on stake, what do you tell me to do. of course i will sue you if it doesn´t come out the way you advise me. (just to get you to a really serious advise.)

if you have balls, please tell me.

[bitcool]

Hindsight is always 20/20, some people just take it to extreme.

[oda.krell]

looks like those who sold and tried to "time" the bottom lost coins or gained fractions, all that time and stress for nothing lol

That's a bit presumptuous, isn't it? I sold a decent portion of my btc holding at ~950-1000, re-bought at ~700-750. Sure, I didn't sleep as good as usual during the weekend, and was somewhat distracted most of the time, but I made an approximately 30% coin profit. Was it worth it? Sure.

[Odalv]

looks like those who sold and tried to "time" the bottom lost coins or gained fractions, all that time and stress for nothing lol

That's a bit presumptuous, isn't it? I sold a decent portion of my btc holding at ~950-1000, re-bought at ~700-750. Sure, I didn't sleep as good as usual during the weekend, and was somewhat distracted most of the time, but I made an approximately 30% coin profit. Was it worth it? Sure.

30% from decent portion = 3% of all your coins ?

[oda.krell]

looks like those who sold and tried to "time" the bottom lost coins or gained fractions, all that time and stress for nothing lol

That's a bit presumptuous, isn't it? I sold a decent portion of my btc holding at ~950-1000, re-bought at ~700-750. Sure, I didn't sleep as good as usual during the weekend, and was somewhat distracted most of the time, but I made an approximately 30% coin profit. Was it worth it? Sure.

30% from decent portion = 3% of all your coins ?

About 10% total. Maybe we have different definitions of "worth it"?

[Odalv]

looks like those who sold and tried to "time" the bottom lost coins or gained fractions, all that time and stress for nothing lol

That's a bit presumptuous, isn't it? I sold a decent portion of my btc holding at ~950-1000, re-bought at ~700-750. Sure, I didn't sleep as good as usual during the weekend, and was somewhat distracted most of the time, but I made an approximately 30% coin profit. Was it worth it? Sure.

30% from decent portion = 3% of all your coins ?

About 10% total. Maybe we have different definitions of "worth it"?

And what % is increase in coins since begin of year ?

[oda.krell]

You mean in USD terms?

If that's what you have in mind: my trading gains are obviously much smaller than the pure appreciation gains, but if you have some internal btc goal in mind and invested already all or most of the fiat you want to, any further progress towards that goal has to come from active trading.

[Odalv]

You mean in USD terms?

If that's what you have in mind: my trading gains are obviously much smaller than the pure appreciation gains, but if you have some internal btc goal in mind and invested already all or most of the fiat you want to, any further progress towards that goal has to come from active trading.

I was asking if you increased your bitcoin stash by trading.

[porcupine87]

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.

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

5- I did not know how this announcement will effect the price. I tell you, what I did:

1. Suddenly I saw a red boner on the btc-e chart. I wanted to know what happend, but there was no good news. Then finally something clearer, but I didn't know. Did China ban Bitcoin? Will they ban it? Who can use it? Was it just a recommodation by the central bank?
2. So I sold my Bitcoin for dollars and then had to watch the price rise again. Very good. Panic over. Bought back btc and had less btc.
3. So the day afterwards you can look at the chart. The price went down and up. I made the same wrong decision again and was left with less btc again.
4. After losing 300€ I stopped trading.
5. I did not sell at 600€, not at 500€, not at 400€, not at 500€, not at 600€ and now it is back at 650€.  

[oda.krell]

You mean in USD terms?

If that's what you have in mind: my trading gains are obviously much smaller than the pure appreciation gains, but if you have some internal btc goal in mind and invested already all or most of the fiat you want to, any further progress towards that goal has to come from active trading.

I was asking if you increased your bitcoin stash by trading.

I only recently finished my 'buy in'  period. Since then, my trades were btc profitable, despite taking place in the bull market. Ironically, my trades earlier this year, during the April aftermath, were btc neutral, but I was completely new to trading then and still had to learn even the most basic methods (not that I'm very experienced now. But I feel confident trading the larger swings at least)

[JayB]

quick poll. hands up those people who lost BTC recently by holding?


...@....

SO you're telling me if you hold your Bitcoins you never lose. Maybe true, but I never said this wasn't true.

This would've also been true if you bought the S&P 500 stocks in 1950 and held it till today (you would've actually made many times your money back). Does that mean this is the best strategy you could've made? Does that mean you made the most returns in the world?

I'm just saying you can gain EVEN MORE by just using your common sense to take advantage of volatility (opportunities).

I'm sorry you are so dumb you can't even give good arguments. I'm not answering your crap anymore.