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Author Topic: Honeymoon savings... hold or sell?  (Read 5798 times)
serenitys
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September 21, 2014, 12:25:07 PM
 #61

Okay OP...listen up.

You made the decision to save for your honeymoon in bitcoin.

Why not do exactly that. Leave it alone until the time you originally intended to cash out or use btc for honeymoon purposes, no matter what the price is at that time. If your spouse went for that to begin with, spouse deserves what spouse gets and so do you.

Just to pour ice water on all the speculation, let's bring this down to reality a bit with a worst case scenario...from personal experience unrelated to bitcoin but 98% related to gambling debts.

See the fact you'd gamble with honeymoon money is sending a huge message to the spouse to be. If my fiance told me they were putting our honeymoon in the hands of a volatile digital currency, there wouldn't be a honeymoon.

My former husband got caught up gambling money we all needed to have a financially secure life and you know where it ended up?

It ended with him unable to pull out of it, taking a nose dive and committing suicide.

Had he done that with bitcoin, it would've likely ended in homicide instead.


Gambling for marital funds is probably not the best way to start a marriage. There's a bigger uglier message you're really sending and if you're the male in this equation and the spouse to be is female, well...enjoy the shit storm she will never let you forget. Even if bitcoin jumps up and you're with a surplus, eventually it'll come down and eventually it'll bust a hole in your relationship.

In the future, should you continue learning and doing bitcoin, don't put it aside for a specific time to cash out. That's defeating the whole purpose of bitcoin. It would've been much cooler had you not sold and instead worked out a honeymoon paid for and only using bitcoin. That would've also served a secondary purpose and let you know whether you're in that 50% going to see the lawyers! Cheesy

#just sayin

You say "anti government" like that's a bad thing...

Unfortunate times will bring out the best in good people and the worst in bad people
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September 21, 2014, 12:32:25 PM
 #62

How do you figure I'm "on a series of bad decision making"?
You got married. Did you read my earlier post? You have a 50% chance to lose everything you own and most of what you earn for many years going forward. That's a way higher risk than bitcoin. Nobody ever think they will be the ones getting hit with divorce papers. That happens to other people.

well, marriage and religion has a lot to do with each other.  Most people that get divorced don't have strong religious beliefs.  So this is over generalizing.

Religion == Genesis FUD

Wilhelm
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September 21, 2014, 12:37:58 PM
 #63

See the fact you'd gamble with honeymoon money is sending a huge message to the spouse to be.

This!!

Assuming your American a honeymoon and wedding is a BIG thing!!

I do hope she knows you were putting this money into bitcoin?

The last thing you want in your relation is distrust, the idea you're gambling with money that has been set aside for a purpose.
You might resort to even stupid ways to cover it up like taking out a loan. This only makes things worse.

Problem then is that "when" this comes out she will distrust you and divorce is just around the corner.
What will she think that you will do with the kids college fund, money for vacation, etc. ?

Next thing is that you will not be allowed to manage the money you earn Tongue

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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September 21, 2014, 12:48:10 PM
 #64

I would say sell.... and hope that bitcoin doesn't rocket in the next few months.
That should enable you to re-enter at a decent price point.
Wilhelm
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September 21, 2014, 12:52:14 PM
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How do you figure I'm "on a series of bad decision making"?
You got married. Did you read my earlier post? You have a 50% chance to lose everything you own and most of what you earn for many years going forward. That's a way higher risk than bitcoin. Nobody ever think they will be the ones getting hit with divorce papers. That happens to other people.

well, marriage and religion has a lot to do with each other.  Most people that get divorced don't have strong religious beliefs.  So this is over generalizing.

This makes me think about statistical lies.

Religious people do get divorced just as much (or even more), there are a lot of contradicting sources.
Usually people get abandoned by their church or community because of the divorce, or they leave so they never have to see their ex, or they choose to leave the church to save the face of their family and church. I've seen this happen.

Thus making them statistically non-religious when you measure divorce rate and you can say that religion has a low divorce rate.

My 2cts

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
CoinDiver
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September 23, 2014, 05:33:59 PM
 #66

I'd really hate to meet the women some of you marry. We agreed to put the savings in to bitcoin. We knew the risk. It didn't work out, but we got out before it was a problem. We agreed to a reasonable ring, reasonable wedding, reasonable honeymoon. Neither one of us was interested in a large waste of money for what? Tradition? We are going to spend two weeks traveling, hiking, backpacking, camping, resorting, etc. We're also not getting a state marriage. Legally we're filling out the paperwork to give each other necessary rights, otherwise, we're drafting a personal contract between the two of us that establishes our responsibilities to each other. It's what a marriage should be without state and church. Our contract will be signed/hashed and the hash published on the blockchain. Our relationship will be what we define it as, not what someone else thinks it should be. This crash in price isn't going to cause any long term problems. She's not that shallow.

http://mises.org/daily/3229
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Ibian
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September 23, 2014, 05:40:10 PM
 #67

Most divorces happen within the first seven years. Post again exactly 2555 days from now.

There is no bubble.
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September 23, 2014, 05:50:18 PM
 #68

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?

I agree.

In my opinion, this carefully engineered price decrease could reverse in October with some whales' tax situation.

I think the price slide might continue another couple of weeks before the whale pump starts.

If the OP has a month more, he's more likely to see a major burst upward than an appreciable further decline.
mano21
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September 23, 2014, 05:59:30 PM
 #69

Dam man sorry to hear you lost 40%.

It sucks but I think we will see 330 before seeing 500 again.

Most likely we will slip to 300 before November and hopefully something will happen then to cause a nice jump.

People forget that this is a SPECULATION board.

We are all just throwing out predictions.

Get rich or die trying
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September 23, 2014, 07:23:25 PM
 #70

This poor guy.

Get rich or die trying
JimboToronto
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September 23, 2014, 07:36:49 PM
 #71

Aren't you glad you didn't sell immediately below $400 as some urged?
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September 23, 2014, 08:05:58 PM
 #72

Aren't you glad you didn't sell immediately below $400 as some urged?

He sold at 398.

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September 23, 2014, 08:37:53 PM
 #73

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?

I do not envy anybody in this situation. Honestly, you've taken pretty close to the full brunt of the downturn at this point. I imagine we'll see somewhere around $340 to $350 following a flash crash... then we'll jump up. But, that's tempting fate. I really have to believe that there is a better reentry point.

So, what am I saying? You can hold and you'll probably see $450 range, again... maybe even $500s (higher than that is really questionable at this point). That said, there probably will be a better reentry point. You have to ask yourself whether you are good enough with TA to time and price that point.

Sorry for your loss, brother.


Thank you. I sold this morning at $398. That hurt. I lost about 40% of what I saved. I sold because it was the low end of what I estimated I could do the trip for. I started saving in January. Bought from $850 all the way down. I knew this was a risk. One of the major reasons I did it was because I knew it would be harder to touch the money for bills and whatever, if it was in BTC. After panic selling 1/3rd of my btc during the crash of 2013, I know better than to sell, ever.

Regardless, we'll still have a hell of a time. Just have to be a little conscientious of costs.

Wow. This could be it. The mother of all sold at the bottom posts & solid confirmation of the next leg up!

I feel for you. By way of consolation, I will send you 1BTC if we hit $5k before 2015, i'll double it if we hit $10k before December.

At least now you got some skin in the game Wink have a great wedding and honeymoon

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CoinDiver
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September 23, 2014, 08:38:28 PM
 #74

I've been at peace since I sold. We're OK with it. I was constantly worrying before I sold. It's one less thing to worry about now.

http://mises.org/daily/3229
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CoinDiver
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September 23, 2014, 08:40:10 PM
 #75

Wow. This could be it. The mother of all sold at the bottom posts & solid confirmation of the next leg up!

I feel for you. By way of consolation, I will send you 1BTC if we hit $5k before 2015, i'll double it if we hit $10k before December.

At least now you got some skin in the game Wink have a great wedding and honeymoon

Haha, thanks! I still have a lot of skin in the game. This was just a separate savings account for a specific purpose. I wouldn't consider selling anything else.

http://mises.org/daily/3229
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September 23, 2014, 08:44:33 PM
 #76

Wow. This could be it. The mother of all sold at the bottom posts & solid confirmation of the next leg up!

I feel for you. By way of consolation, I will send you 1BTC if we hit $5k before 2015, i'll double it if we hit $10k before December.

At least now you got some skin in the game Wink have a great wedding and honeymoon

Haha, thanks! I still have a lot of skin in the game. This was just a separate savings account for a specific purpose. I wouldn't consider selling anything else.

You made the right choice. You were given some negative feedback this time, but that does not take away from the fact you made the right choice at the time. You knew you were going to have to cash out soon no matter what, and price was in steady decline.

Past the moon.
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September 23, 2014, 08:48:46 PM
 #77

Wow. This could be it. The mother of all sold at the bottom posts & solid confirmation of the next leg up!

I feel for you. By way of consolation, I will send you 1BTC if we hit $5k before 2015, i'll double it if we hit $10k before December.

At least now you got some skin in the game Wink have a great wedding and honeymoon

Haha, thanks! I still have a lot of skin in the game. This was just a separate savings account for a specific purpose. I wouldn't consider selling anything else.

Oh good that is great to hear. I'll leave it up to you to decide whether you want to collect on my offer, because when all else is stripped away all a man has is his word, and I have already given it.

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September 23, 2014, 08:55:48 PM
 #78

I've been at peace since I sold. We're OK with it. I was constantly worrying before I sold. It's one less thing to worry about now.

Wish you a perfect honeymoon! In the end it's not so much about luxury I suppose, but the more important things. Have a great time and forget about bitcoin for a while. Lots of people here feel bad for you or laugh at your selling low. The thought that they should envy you for having a honeymoon does not even cross their minds Wink

1. Supermoon
2. Honeymoon
3. Bitcoinmoon

One after the other  Cool

EDIT:

Furthermore, applause for sgbett and his offer. Good to see that there are still some people left in the bitcoin community who are still just nice people, no matter what the price of bitcoin is.

MCTRL_751 >   END OF LINE
CoinDiver
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September 23, 2014, 09:33:31 PM
 #79

Wow. This could be it. The mother of all sold at the bottom posts & solid confirmation of the next leg up!

I feel for you. By way of consolation, I will send you 1BTC if we hit $5k before 2015, i'll double it if we hit $10k before December.

At least now you got some skin in the game Wink have a great wedding and honeymoon

Haha, thanks! I still have a lot of skin in the game. This was just a separate savings account for a specific purpose. I wouldn't consider selling anything else.

Oh good that is great to hear. I'll leave it up to you to decide whether you want to collect on my offer, because when all else is stripped away all a man has is his word, and I have already given it.

Thank you sgbett... but I can't collect on that since you were under the wrong impression. No worries. I'll be very happy when we hit 10k. Smiley

http://mises.org/daily/3229
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September 23, 2014, 09:42:18 PM
 #80

Aren't you glad you didn't sell immediately below $400 as some urged?

He sold at 398.

Ouch. Sorry I missed that. I didn't mean to rub it in.

To the OP:

You did the right thing even if your timing was a bit off.

You and your fiancee's happiness is far more important than mere money.

Good luck and best wishes.
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