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Author Topic: What do you do with your BTC during the downtrend?  (Read 1300 times)
Ed4252
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June 26, 2014, 09:33:17 PM
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What does everyone do with their BTC's in the downtrend when you knew it was going to happen?

from April 2013 to Oct 2013..did you just keep it in BTC while it was going down in $$$ value or did you take it out and put it in the bank and/or invest that amt in stocks?
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June 26, 2014, 09:50:32 PM
 #2


"To know death, Otto, you have to fuck life in the gallbladder"
www.hsbc.com  - The world´s local bank
"These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi
jamesc760
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June 26, 2014, 09:59:50 PM
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You buy more bitcoins and add to your cold storage during the downtrend.
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June 26, 2014, 10:09:55 PM
 #4

hodl


 
 
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gentlemand
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June 26, 2014, 10:10:43 PM
 #5

Set a load of BTC on fire with alts.

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June 26, 2014, 10:13:08 PM
 #6

What does everyone do with their BTC's in the downtrend when you knew it was going to happen?

from April 2013 to Oct 2013..did you just keep it in BTC while it was going down in $$$ value or did you take it out and put it in the bank and/or invest that amt in stocks?


Same as I do during the uptrends. Use it, talk about it, show new users the benefits.

Is this a trick question or something?

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June 26, 2014, 10:17:54 PM
 #7

What does everyone do with their BTC's in the downtrend when you knew it was going to happen?

from April 2013 to Oct 2013..did you just keep it in BTC while it was going down in $$$ value or did you take it out and put it in the bank and/or invest that amt in stocks?

I bought more BTC as it went down as I was underwater and didn't want to sell. I also tried to play the swings with a small number of coins to increase my coin total, which was only mildly successful. And then I screwed up in June by investing a pretty large portion of my coins into a pre-order for a KNC miner. Although in the end it worked out alright due to the November rally later on. I managed to mine about 60% of my coins back in the end. Good lesson learned there.

Bitcoin = Gold on steroids
oda.krell
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June 26, 2014, 10:46:59 PM
 #8

What does everyone do with their BTC's in the downtrend when you knew it was going to happen?

from April 2013 to Oct 2013..did you just keep it in BTC while it was going down in $$$ value or did you take it out and put it in the bank and/or invest that amt in stocks?

I bought more BTC as it went down as I was underwater and didn't want to sell. I also tried to play the swings with a small number of coins to increase my coin total, which was only mildly successful. And then I screwed up in June by investing a pretty large portion of my coins into a pre-order for a KNC miner. Although in the end it worked out alright due to the November rally later on. I managed to mine about 60% of my coins back in the end. Good lesson learned there.

What's the lesson, in your opinion?

Not to mine btc unless you're planning on setting up a farm sized operation? Or not to use pre-orders?

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
For executables (Windows, OSX, Linux, Android), source code and documentation, see the Electrum homepage.
Wandererfromthenorth
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June 26, 2014, 10:47:10 PM
 #9

Sell it + shorting
akujin
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June 26, 2014, 11:03:51 PM
 #10

Buy if it's going up, sell if it's going down  Grin

BTC: 165rKPfGJ3ndrG1QziHR6ACnViP4EQHNK7
LTC: LMysGMFjmF9gR9RzStij74msXrDP1NqW8X
DOGE: DRZXGgcKN8kANwko3VycsBVVGqfy6XsSpM
Miz4r
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June 26, 2014, 11:34:40 PM
 #11

What does everyone do with their BTC's in the downtrend when you knew it was going to happen?

from April 2013 to Oct 2013..did you just keep it in BTC while it was going down in $$$ value or did you take it out and put it in the bank and/or invest that amt in stocks?

I bought more BTC as it went down as I was underwater and didn't want to sell. I also tried to play the swings with a small number of coins to increase my coin total, which was only mildly successful. And then I screwed up in June by investing a pretty large portion of my coins into a pre-order for a KNC miner. Although in the end it worked out alright due to the November rally later on. I managed to mine about 60% of my coins back in the end. Good lesson learned there.

What's the lesson, in your opinion?

Not to mine btc unless you're planning on setting up a farm sized operation? Or not to use pre-orders?

The lesson I learned was that I should not have used such a large portion of my BTC for investing in mining BTC. I should have invested like 10% of my coins in mining. And also the whole pre-order thing wasn't a good idea, having to wait several months for a miner to hopefully arrive on time is just too much uncertainty and risk. You have to pray that the difficulty won't rise too fast (which it did), that the mining hardware company can be trusted to deliver on time and as promised, and that the BTC value won't tank in the mean time. Luckily the company delivered only two weeks too late and we saw a huge rally, but that's not something I'm going to want to count on next time I'm thinking of investing my coins. Tongue

Bitcoin = Gold on steroids
BTCfan1
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June 26, 2014, 11:48:21 PM
 #12

sit and watch ... .... ............ Huh
Ed4252
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June 27, 2014, 12:43:55 AM
 #13

It's a serious question. If I know something is gonna go down in value, I'm not going to keep on holding on to it. I want to max profits.

Also, if the bubble pattern continues, the time to buy will be in March/April 15...so
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June 27, 2014, 01:27:37 AM
 #14

I purposefully buy high and sell low.

It gives me an incentive to prostitute myself out to strange men to make up for losses.

I could just do this without buying high and selling low. But if I did that, I wouldn't be desperate. If I'm not desperate, my "work" suffers.

I mean, a streetwalker that REALLY needs the money gives a better blowjob than one that doesn't, right?

I recommend this to others.

I try to do the opposite of this so I can afford more hookers.
EricTyle
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June 27, 2014, 04:44:46 AM
 #15

Well... I get so upset that I have so many, and they're worthless that I sell them. But then I get upset that I don't have any when they go back up so I buy some more. It's a vicious cycle!

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June 27, 2014, 08:18:42 AM
 #16

Split into 4 parts:

1) Leveraged short on bitfinex to cover all the coins

2) Accounts on altcoin exchanges to trade alts

3) Cold storage.

4) Fiat withdrawn to bank account
oda.krell
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June 27, 2014, 12:40:15 PM
 #17

I purposefully buy high and sell low.

It gives me an incentive to prostitute myself out to strange men to make up for losses.

I could just do this without buying high and selling low. But if I did that, I wouldn't be desperate. If I'm not desperate, my "work" suffers.

I mean, a streetwalker that REALLY needs the money gives a better blowjob than one that doesn't, right?

I recommend this to others.

I aim to do the exact opposite.

Or how did you think your customers manage to afford you?

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
For executables (Windows, OSX, Linux, Android), source code and documentation, see the Electrum homepage.
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