Just sold my bitcoin...

[vokain]

wow, and with that, the picture is in a CHART

[JimboToronto]

I just sold my bitcoin too. What a liberating feeling not being tied to the charts anymore!!

Hopefully you sold at a good profit. You're obviously a speculator rather than an investor (holder).

Holders aren't tied to the charts like speculators. They're as stress free holding BTC as you are holding fiat.

[TERA]

Don't listen to the echo chamber; no one has ever gone broke by locking in profits.

probably greatest line of advice this year

Lock in profits in what currency? Yeah, you made few more monopoly bucks and meanwhile lost the only real money you had.

well, the last position I closed I did by paying off the monopoly money margin and keeping the remainder

Using margin for the least amount of time is generally the right thing to do. One needs very good reasons to deviate from this.

I only continuously use margin during the major rallies, like in November, and I keep my liquidation price at no more of than 1/3 of the price.

[wachtwoord]

Can you also post a chart of USD vs bitcoin since December?

I can but I won't as such short term fluctuations are completely irrelevant. See even in the chart above there has been a string of several years where the purchasing power of the USD actually went up. Short term is irrelevant except for liquidity. Therefore I still own some fiat for liquidity.

[Miz4r]

Giant swings in purchasing power isn't a positive quality in a currency.  In a stock, commodity, or other investment vehicle sure...but in a currency, it is a very BAD thing.

Bitcoin is not a currency. Yet. Right now it behaves more like a stock or commodity and it will probably start behaving more like a currency as it matures over the years. So your point is moot.

[evolve]

*charts*

Yup, the USD has had a steady loss in purchasing power over a period of 100 years.  

Now explain how swings of purchasing power of up to 80% in a matter of days or weeks makes BTC a more desirable currency than USD.

[evolve]

Bitcoin is not a currency.

Then comparing it to a currency like USD is asinine.

[wachtwoord]

Yup, the USD has had a steady loss in purchasing power over a period of 100 years.  

Now explain how swings of purchasing power of up to 80% in a matter of days or weeks makes BTC a more desirable currency than USD.

Because purchasing power will be stable long term (starting off with a huge volatile increase).

[evolve]

Because purchasing power will be stable long term (starting off with a huge volatile increase).

*citation needed*

You have absolutely no idea what the price will do in the future.  No one does, and to pretend otherwise is disingenuous.

[wachtwoord]

Because purchasing power will be stable long term (starting off with a huge volatile increase).

*citation needed*

Look at the long term purchasing power of gold. Very stable because there is no (or a relatively low amount compared to fiat) of inflation. Now think of Bitcoin: NO inflation. 21M BTC is the most there ever will be.

[JimboToronto]

Can you also post a chart of USD vs bitcoin since December?

Why such a ridiculously short time frame? How about since September?

Why not really go for it and ask for the month of April 2013?

[wachtwoord]

Can you also post a chart of USD vs bitcoin since December?

Why such a ridiculously short time frame? How about since September?

Why not really go for it and ask for the month of April 2013?

Because December was the end of the bull market. But I am sure you didn't notice yet 

There's been a bull market since 2010

[hyphymikey]

Shit this is that classic thread that indicates a floor has been hit. i was really hoping for cheaper coins.

+1

[Miz4r]

Bitcoin is not a currency.

Then comparing it to a currency like USD is asinine.

Why? I can compare gold to USD as well for example to show that gold is a superior store of value. Anyway I wasn't the one who started the comparison, someone else did to show that BTC has been losing value against the dollar compared to two months ago. I simply zoomed out the chart for him a bit to show how much value USD lost against BTC over an entire year. I don't give a crap whether you want to categorize Bitcoin as a currency or not.

[evolve]

Look at the long term purchasing power of gold. Very stable because there is no (or a relatively low amount compared to fiat) of inflation. Now think of Bitcoin: NO inflation. 21M BTC is the most there ever will be.

You do realize that the gold market is heavily manipulated, right?  Golds price has nothing to due with any intrinsic value as a store of value/currency, its value as an industrial metal, or its limited supply.   Nor can BTC be compared to it in any sensible way.  They are planets away from each other in about every sense possible.

That aside, lack of inflation and a limited supply in no way adds up to stable price. BTC could stabilize, it could continue boom and bust cycles, it could skyrocket to infinity, drop down to nothing, or anything between....and NOBODY knows which of these the future holds...and anyone who says different is full of shit.

[Miz4r]

Can you also post a chart of USD vs bitcoin since December?

Why such a ridiculously short time frame? How about since September?

Why not really go for it and ask for the month of April 2013?

Because December was the end of the bull market. But I am sure you didn't notice yet 

Just like April 2013 was the end of the bull market right?

[TERA]

April was when you got goxxed I believe.

[chesthing]

I just sold all my bitcoin (not much lol) hoping for a dip..

How low do you think it will go and at what price should I buy it back?

I think you made the right choice but I'm a terrible trader and have made nothing but mistakes. I recently sold mine in the low $700s and am looking to buy at or below $600. The thing is patience, which has always been my problem. I'm still not sure what feels worse, selling only to see the price rise and leave you behind for days/weeks or buying and seeing the price go to shit.
I think it's important to stand behind your decision, don't buy back in higher - wait it out. If you buy, don't sell for a loss. You don't lose anything unless you commit. Much easier said than done, but this market is so volatile at this stage it's bound to come around again. It's not like you are losing any interest by not holding for a while. The nice thing about not holding is you don't have to worry about collapse, however unlikely that is.
And yeah, ignore the nutters who got in at a few bucks or less, they aren't in our shoes.

[wachtwoord]

You do realize that the gold market is heavily manipulated, right?  

Since the 1900s? Just look at the purchasing power now and then. Taking an hour labor of a skilled craftsman is a common way to compare this.

[JimboToronto]

April 2013 was the bear trap of the november-december bull market.

I thought this was the bear trap of the 2014 bull market.