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Author Topic: Honeymoon savings... hold or sell?  (Read 5797 times)
CoinDiver
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September 17, 2014, 09:33:35 PM
 #1

I made the decision in January to save for my (end of September) honeymoon in bitcoin. In the last few months, I'm getting slaughtered. I've held strong and not sold a bitcent that wasn't required. It's getting close enough (2 weeks), that I'm starting to worry...

So, the question is... sell now, or sell in two weeks?

http://mises.org/daily/3229
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Equus
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September 17, 2014, 09:39:36 PM
 #2

I am in a slightly similar situation because my wife's birthday is at the start of October and I promised her a gift from Newegg.

I am trying to get her used to the idea of waiting for her gift until November, but she is skeptical.  Perhaps you could double down and promise a much better honeymoon in a few months?

It is always good to stress-test your marriage early.   Grin

-.-. -.-. -- ..-.
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September 17, 2014, 09:40:18 PM
 #3

I made the decision in January to save for my (end of September) honeymoon in bitcoin. In the last few months, I'm getting slaughtered. I've held strong and not sold a bitcent that wasn't required. It's getting close enough (2 weeks), that I'm starting to worry...

So, the question is... sell now, or sell in two weeks?

This goes for everyone.

If you need a certain amount of money by any day less than 5 years from now then a) don't buy and b) sell if you've already bought.

 Only hold what you don't need for awhile.
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September 17, 2014, 09:40:58 PM
 #4

I made the decision in January to save for my (end of September) honeymoon in bitcoin. In the last few months, I'm getting slaughtered. I've held strong and not sold a bitcent that wasn't required. It's getting close enough (2 weeks), that I'm starting to worry...

So, the question is... sell now, or sell in two weeks?
It easy, never sell. Just hodl.



You should not save in bitcoin with the idea to spend it soon, except when you are able to buy them back immediately.

1FdwDuV2qgsw2w1Lza8nsea7L6mQxsc7g3
CoinDiver
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September 17, 2014, 09:42:19 PM
 #5

I am in a slightly similar situation because my wife's birthday is at the start of October and I promised her a gift from Newegg.

I am trying to get her used to the idea of waiting for her gift until November, but she is skeptical.  Perhaps you could double down and promise a much better honeymoon in a few months?

It is always good to stress-test your marriage early.   Grin

Can't, flights are booked. We're still over (just slightly) our targeted budget, but I've lost about 35% in USD of what I put in. OUCH.

http://mises.org/daily/3229
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Equus
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Why the long face?


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September 17, 2014, 10:05:00 PM
 #6

In that case, carry the flights on your credit card for a month or two and try to convince yourself that you aren't gambling with borrowed funds.

Am I helping?

In all seriousness, this is exactly why high-risk investing is for long term money.  I would hate to pull my money out when markets are down, but sometimes you have no choice.   I would leave the money in if I could convince myself that it is a retirement fund, and pull it out if I really need it to cover airline tickets.

-.-. -.-. -- ..-.
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September 17, 2014, 10:12:26 PM
 #7

I made the decision in January to save for my (end of September) honeymoon in bitcoin. In the last few months, I'm getting slaughtered. I've held strong and not sold a bitcent that wasn't required. It's getting close enough (2 weeks), that I'm starting to worry...

So, the question is... sell now, or sell in two weeks?

This goes for everyone.

If you need a certain amount of money by any day less than 5 years from now then a) don't buy and b) sell if you've already bought.

 Only hold what you don't need for awhile.

I also follow this position with BTC.  It seems like a waiting game to me.  I could be wrong and end up with nothing.





*IMO sell now if you require funds with in a month.
CoinDiver
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September 17, 2014, 10:13:17 PM
 #8

Flights are paid. Car rental, hotels, food, etc. are not. I didn't consider it investing, simply using bitcoin for what it was intended. As a currency. I'm not so much an investor as I am a believer in the technology and in the decentralization of power.

http://mises.org/daily/3229
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Equus
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Why the long face?


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September 17, 2014, 10:18:56 PM
 #9

I say sell when your credit card bill arrives, but in that case you really will be gambling for the next month. 

I am also trying to treat it like a currency, but it sure hurts to spend it right now.

-.-. -.-. -- ..-.
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September 17, 2014, 10:22:39 PM
 #10

I say sell when your credit card bill arrives, but in that case you really will be gambling for the next month. 

I am also trying to treat it like a currency, but it sure hurts to spend it right now.

I disagree, with the jumps in price all around I would recommend selling if you need money with in a month.

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September 17, 2014, 10:43:23 PM
 #11

Probably sell, unless you want to have your honeymoon at McDonalds.
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September 17, 2014, 10:44:19 PM
 #12

Probably sell, unless you want to have your honeymoon at McDonalds.

This.

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X[[]]X
wachtwoord
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September 17, 2014, 11:08:21 PM
 #13

I would sell at the last possible moment. Bitcoin is greatly undervalued so the chance of it going up is larger than down.

How much down can you take without ending up in debt when all is said and done?

Chuckee
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September 17, 2014, 11:10:51 PM
 #14

I would sell at the last possible moment. Bitcoin is greatly undervalued so the chance of it going up is larger than down.

How much down can you take without ending up in debt when all is said and done?

Maybe bitcoin is greatly undervalued in your eyes, but to the general public, it's crap and nobody is buying. Hence, why price has been falling all god damn year.

Lesson number for trading: Don't fight the tape.
wachtwoord
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September 17, 2014, 11:12:49 PM
 #15

I would sell at the last possible moment. Bitcoin is greatly undervalued so the chance of it going up is larger than down.

How much down can you take without ending up in debt when all is said and done?

Maybe bitcoin is greatly undervalued in your eyes, but to the general public, it's crap and nobody is buying. Hence, why price has been falling all god damn year.

Lesson number for trading: Don't fight the tape.

Lesson number 1 for trading: DON'T TRADE!!!1111 (rather invest)

Chuckee
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September 17, 2014, 11:20:10 PM
 #16

I would sell at the last possible moment. Bitcoin is greatly undervalued so the chance of it going up is larger than down.

How much down can you take without ending up in debt when all is said and done?

Maybe bitcoin is greatly undervalued in your eyes, but to the general public, it's crap and nobody is buying. Hence, why price has been falling all god damn year.

Lesson number for trading: Don't fight the tape.

Lesson number 1 for trading: DON'T TRADE!!!1111 (rather invest)

Rule #2: Set a stop loose. Don't let your investment fall any more than 1 or 2% before cutting looses. That would have saved OP.
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September 17, 2014, 11:22:03 PM
 #17

I would sell at the last possible moment. Bitcoin is greatly undervalued so the chance of it going up is larger than down.

How much down can you take without ending up in debt when all is said and done?

Maybe bitcoin is greatly undervalued in your eyes, but to the general public, it's crap and nobody is buying. Hence, why price has been falling all god damn year.

Lesson number for trading: Don't fight the tape.

Lesson number 1 for trading: DON'T TRADE!!!1111 (rather invest)

Rule #2: Set a stop loose. Don't let your investment fall any more than 1 or 2% before cutting looses. That would have saved OP.

trading and investing are two different things...

wachtwoord
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September 17, 2014, 11:22:52 PM
 #18

I would sell at the last possible moment. Bitcoin is greatly undervalued so the chance of it going up is larger than down.

How much down can you take without ending up in debt when all is said and done?

Maybe bitcoin is greatly undervalued in your eyes, but to the general public, it's crap and nobody is buying. Hence, why price has been falling all god damn year.

Lesson number for trading: Don't fight the tape.

Lesson number 1 for trading: DON'T TRADE!!!1111 (rather invest)

Rule #2: Set a stop loose. Don't let your investment fall any more than 1 or 2% before cutting looses. That would have saved OP.

Rule 2: See Rule 1, which was DO NOT TRADE!!

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September 17, 2014, 11:22:53 PM
 #19

never mix money and women
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September 17, 2014, 11:25:51 PM
 #20

If you need it within a month i'd sell right here right now. All indications show we're in slow, bloody spiral into the 300's
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