What I'd do now

[old_engineer]

Until this month I sold just about 100 coins. I wish I would have sold at 32, 24 or even 10. So far I set up a small bidwall, at 4.01 to have some gain from bitcoins if this goes really down.

LE: 3.98

I wish someone had set up a 100,000 btc ask wall at $10 in June.  So much angst would have been avoided if the price had never raised into the double digits.

[bulanula]

'BUY BUY BUY" or "SELL SELL SELL" ?

https://i.imgur.com/3xMUf.jpg

If I were you I would sell like CRAZY. 152 000 USD would buy you a lot of things. Bitcoin price will only fall and fall. Bubble burst in June. Only thing that will happen is price drops to level it takes to make them eg <$1. Don't get greedy. Think what if price drops to 0.1 or mtgox gets "hacked" which is much more probable than bitcoins rising to 10000 USD etc.

[grod]

Think what if price drops to 0.1 or mtgox gets "hacked" which is much more probable than bitcoins rising to 10000 USD etc.

More likely if $ volume goes to the point where current and future operations are unlikely to result in any net profit -- claim to be hacked, keep the $, close up shop.  It's a completely opaque operation with no accountability and one guy running the show.  What would YOU do for a few hundred thousand dollars in your pocket weighed vs mounting losses for continuing operations?

That's what I suspect happened to bitcoin7.  Look to moonco.in and Bruce Wagner for other data points.

[bulanula]

Think what if price drops to 0.1 or mtgox gets "hacked" which is much more probable than bitcoins rising to 10000 USD etc.

More likely if $ volume goes to the point where current and future operations are unlikely to result in any net profit -- claim to be hacked, keep the $, close up shop.  It's a completely opaque operation with no accountability and one guy running the show.  What would YOU do for a few hundred thousand dollars in your pocket weighed vs mounting losses for continuing operations?

That's what I suspect happened to bitcoin7.  Look to moonco.in and Bruce Wagner for other data points.

Hehe nice one. Bet he is packing up right now and buying a house in Hawaii.  I'm not even joking the guy can run away at any time now.

[bulanula]

Blocks/hour   4.97 / 724 s

From bitcoincharts.... that's not good, that is ~12 minute block times now, one would hope it doesn't get too much worse or bitcoin will begin approaching un-usability.

Well, Solidcoin is always ready for a bitcoin collapse so no problems there !

[grod]

Blocks/hour   4.97 / 724 s

From bitcoincharts.... that's not good, that is ~12 minute block times now, one would hope it doesn't get too much worse or bitcoin will begin approaching un-usability.

It's just variance.  Deepbit is back to 4.4 terahash, no measurable decreases since $5/btc.  We've seen 5 blocks/hour before, it's meaningless.  Business as usual, everyone is feeling bullish again.

[BitcoinMint.US]

Just a thought, but funds tied to real assets that are valued in bitcoins such as my SLV fund on the GLBSE will help protect the value of your bitcoins from a price drop. The fund is up 22% today alone and pays a daily dividend.

https://bitcointalk.org/index.php?topic=45586.0

[Cluster2k]

To the question of "what I'd do now", I would encourage bitcointalk.org users to remove gambling, lottery, pyramid and ponzi scheme ads from their signatures (the latter even if it's a joke).  This forum is the premiere forum to discuss all matters bitcoin.  As a new user, if I saw people advertising more unsavoury uses for bitcoins I would instantly approach the whole matter with even more caution.

[S3052]

To the question of "what I'd do now", I would encourage bitcointalk.org users to remove gambling, lottery, pyramid and ponzi scheme ads from their signatures (the latter even if it's a joke).  This forum is the premiere forum to discuss all matters bitcoin.  As a new user, if I saw people advertising more unsavoury uses for bitcoins I would instantly approach the whole matter with even more caution.

I echo that

[saethan]

Blocks/hour   4.97 / 724 s

From bitcoincharts.... that's not good, that is ~12 minute block times now, one would hope it doesn't get too much worse or bitcoin will begin approaching un-usability.

... and every two weeks the difficulty adjusts to go back to 10 minute block times.

[Technomage]

It's at 3.x.  How much have you bought?

None because I haven't been able to deposit yet. I'll look for good buying positions next week. I expect many others to do this as well. $3.x is the strongest buying zone since the downtrend started and this will be apparent in the weeks to come. And it just might be strong enough to start trend changing rallies, but we'll see about that.

[S3052]

Agree. BTCUSD sits on the major long term uptrend line which should spark a strong rally.

[ineededausername]

Agree. BTCUSD sits on the major long term uptrend line which should spark a strong rally.

How many times have we heard this?  I agree with you that we'll eventually have a rally and that there is long-term support, but I have little to no confidence in your timing because the long-term support line is way too broad for us to time the market with such accuracy.

[Crypt_Current]

To the question of "what I'd do now", I would encourage bitcointalk.org users to remove gambling, lottery, pyramid and ponzi scheme ads from their signatures (the latter even if it's a joke).  This forum is the premiere forum to discuss all matters bitcoin.  As a new user, if I saw people advertising more unsavoury uses for bitcoins I would instantly approach the whole matter with even more caution.

I echo that

Yep, exactly.  Out of all 300 or so of my close, personal friends / acquaintances / people in my real-world social group, I am the only one that does anything with bitcoin at all.  Most of them have no idea what it even is, and I wouldn't suggest they come here for introductory information, but I would like to.

[evolve]

To the question of "what I'd do now", I would encourage bitcointalk.org users to remove gambling, lottery, pyramid and ponzi scheme ads from their signatures (the latter even if it's a joke).  This forum is the premiere forum to discuss all matters bitcoin.  As a new user, if I saw people advertising more unsavoury uses for bitcoins I would instantly approach the whole matter with even more caution.

this.

[r4in]

My plan seems to work out perfectly. Doubled my BTC from the first post on. Please check the chart on Post #1 again

[d.james]

I too have sold my coins at $4 before last weekend. I may buy back a few once the price drops low enough.