johnniewalker (OP)
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Activity: 896
Merit: 1000
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April 02, 2014, 07:36:58 PM |
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For the first time since I bought my first bitcoins at about $5/ea, I don't own any. With the IRS decision, its obvious [immediate] effects and the slight dip in the price of silver, I headed over to Amagi and spent it all on junk silver (90%). It feels weird to "be out of the game" as far as owning bitcoins goes. Did I make the right decision? Has the ship sailed? Or does anybody think now is the perfect time to hop back on it?
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spazzdla
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Activity: 1722
Merit: 1000
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April 02, 2014, 07:39:37 PM |
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Just got in, lol. I can't see how crypto won't be big in 5 years.
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ryanmnercer
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April 02, 2014, 07:41:20 PM |
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I try to keep 1-1.25BTC and nothing more. Usually unload excess at Amagi myself on 1/10th ounce gold or junk silver. I do try to always use it when it's slightly higher than I paid for it/received it at though so I might hold excess for a day or two for it to be higher when I'm actually awake and able to spend it.
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ryanmnercer
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April 02, 2014, 07:42:33 PM |
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I can't see how crypto won't be big in 5 years.
Countries are just starting to make early decisions on how to tax and/or regulate it. It could go south fast. |
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binderclip
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April 02, 2014, 07:42:42 PM |
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I'm taking a long term view for bitcoin. If it's still around in 10 years then it would most likely have been much more widely adopted than it is now. If I got in at $5 I'd be tempted to cash out too but why not hold a few coins to have some skin in the game?
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smoothie
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LEALANA Bitcoin Grim Reaper
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April 02, 2014, 07:43:03 PM |
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Look at the fundamentals. The attention to taxation is bullish. The fact that they are addressing it says that Bitcoin has arrived and is making an impact.
Bull run isn't over.
Central banks still printing like crazy.
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btcpay86
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April 02, 2014, 07:43:24 PM |
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I think keep some BTCs is an interesting things. If the price of BTC come to "0", you still laugh and will be OK.
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Grix
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April 02, 2014, 07:43:28 PM |
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It sounds like you are talking purely from a speculator perspective, which is narrow-minded. Right now I don't own any bitcoins but I am far from "out of the game". Bitcoin is about its advantages and innovation, it's not a get-rich-quick scheme.
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seattletu
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April 02, 2014, 07:45:02 PM |
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Damn OP, don't be a scaredy pants
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Bobsurplus
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Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
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April 02, 2014, 07:45:55 PM |
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OMG, are you serious.
5$ BTC and you're giving up now.
Its just getting started!
If I were you, I'd buy back in yesterday. This is the second crash since I've been in and its fair to say the rebound will only be bigger then last time.
250-60-1200
1200-400-4000
How can you not see this?
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bitdragon
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April 02, 2014, 07:46:23 PM |
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bitcoin all the way.
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ryanmnercer
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April 02, 2014, 07:47:29 PM |
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It sounds like you are talking purely from a speculator perspective, which is narrow-minded. Right now I don't own any bitcoins but I am far from "out of the game". Bitcoin is about its advantages and innovation, it's not a get-rich-quick scheme.
And how did he give that impression? He didn't take his BTC, convert them to fiat and set the fiat on fire... he simply switched from a highly volatile form of wealth storage to a far less volatile form of wealth storage. He also took advantage of a dip in silver prices. In fact by cashing out what he initially invested, he's showing he's not trying to 'get rich quick' or he'd hold waiting for these absurd numbers that people are predicting. |
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grifferz
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April 02, 2014, 07:48:51 PM |
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I can kind of understand cashing some out now if you bought at $5, but I am surprised that OP does not think it worth keeping just a small amount in order to keep an interest in Bitcoin.
I must admit that I cashed out a fair bit in late 2013 — much of which was bought at a similar price — but it's all too fascinating to completely abandon and I've been tending to buy back at the low points such as now.
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Dimelord
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April 02, 2014, 07:49:07 PM |
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I have spent $0.00 on any crypto, and I have close to 1 BTC worth of holdings from mining and trading alts. I have nothing to lose, but why get out of it now?
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bitdragon
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April 02, 2014, 07:49:29 PM |
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It sounds like you are talking purely from a speculator perspective, which is narrow-minded. Right now I don't own any bitcoins but I am far from "out of the game". Bitcoin is about its advantages and innovation, it's not a get-rich-quick scheme.
And how did he give that impression? He didn't take his BTC, convert them to fiat and set the fiat on fire... he simply switched from a highly volatile form of wealth storage to a far less volatile form of wealth storage. He also took advantage of a dip in silver prices. the dip in silver price is totally and completely irrelevant compared to the growth of bitcoin. |
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ryanmnercer
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April 02, 2014, 07:49:36 PM |
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If I were you, I'd buy back in yesterday. This is the second crash since I've been in and its fair to say the rebound will only be bigger then last time.
250-60-1200
1200-400-4000
How can you not see this?
History doesn't always repeat itself. Past trends are not reliable predictions of the future. |
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ryanmnercer
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April 02, 2014, 07:50:42 PM |
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It sounds like you are talking purely from a speculator perspective, which is narrow-minded. Right now I don't own any bitcoins but I am far from "out of the game". Bitcoin is about its advantages and innovation, it's not a get-rich-quick scheme.
And how did he give that impression? He didn't take his BTC, convert them to fiat and set the fiat on fire... he simply switched from a highly volatile form of wealth storage to a far less volatile form of wealth storage. He also took advantage of a dip in silver prices. the dip in silver price is totally and completely irrelevant compared to the growth of bitcoin. I didn't claim it was, I said he took advantage of a dip in silver prices. He took a volatile currency and converted it into a more stable store of value. |
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andydabeast
Member
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Activity: 98
Merit: 10
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April 02, 2014, 07:51:19 PM |
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OMG, are you serious.
5$ BTC and you're giving up now.
Its just getting started!
If I were you, I'd buy back in yesterday. This is the second crash since I've been in and its fair to say the rebound will only be bigger then last time.
250-60-1200
1200-400-4000
How can you not see this?
This is what I would love to think. Same with LTC. I sold my LTC at $3.75 just before it went to $40. NEVER again will I miss out that bad (even though that sale still achieved ROI for me...) |
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RodeoX
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Activity: 3066
Merit: 1147
The revolution will be monetized!
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April 02, 2014, 07:53:32 PM |
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Look at the fundamentals. ...
+1 In fact it may be all you should look at. I ask myself: Is bitcoin still the fastest, safest, and cheapest way to buy things over the network? As long as those things are true bitcoin has a bright future, IMO. |
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Bobsurplus
Legendary
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Activity: 1008
Merit: 1000
Making money since I was in the womb! @emc2whale
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April 02, 2014, 07:54:24 PM |
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If I were you, I'd buy back in yesterday. This is the second crash since I've been in and its fair to say the rebound will only be bigger then last time.
250-60-1200
1200-400-4000
How can you not see this?
History doesn't always repeat itself. Past trends are not reliable predictions of the future. I think you may be in the wrong forum, here try this one: http://www.banking-forum.org/Maybe there you will find the same conventional wisdom that you seem to have. Bitcoin does not follow the rules, it breaks them or have you not realised yet? |
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