hold or dump?

obviously, those who had coins when they were at $1100 should have sold. unfortunately, i was sitting on so many i could not liquidate them all cause i had no clue how to handle all the money. when coins dropped to $600 i figured i will sell a little here and there when i need play money. when the price dropped to $400 i said i will hold cause i had faith in BTC. now the price is in the $200 range and i'm debating if i should get out or stay in. there a few things on my mind that make me wonder if the golden days of BTC is over.

the end of two silk roads, which was a major lightning rod for BTC.

big companies taking over the mining game and squeezing out the little guy through difficulty.

the cost and power requirements needed for current gen hardware.

how quickly hardware becomes outdated and is no longer profitable.

Quote from: WEB slicer on January 04, 2015, 06:58:56 AM

obviously, those who had coins when they were at $1100 should have sold. unfortunately, i was sitting on so many i could not liquidate them all cause i had no clue how to handle all the money. when coins dropped to $600 i figured i will sell a little here and there when i need play money. when the price dropped to $400 i said i will hold cause i had faith in BTC. now the price is in the $200 range and i'm debating if i should get out or stay in. there are three things on my mind that make me wonder if the golden days of BTC is over. the end of two silk roads, which was a major lightning rod for BTC and most are probably too scared to get back in that market. big companies taking over the mining game and squeezing out the little guy. the cost and power requirements needed for hardware cause the big guys have increased the difficulty by astronomical amounts only those with big bucks can get in the game.

If you're still ahead? I say sell. It's much easier to count any net gain than to hold and wonder 'what if' after you're hosed. I've learned this the hard way on way too many of my investments. Sounds like your gut is telling you to dump as well. Trust your gut.

And hey...if there ever is a day that it does crash back down to 15 bucks a pop, you can always come back and load the truck.

The long term charts certainly do not spell a bright future for bitcoin and alts in general. Holding now would honestly be going against market logic.

If you believe in the tech, hold.

Quote from: flipstyle on January 04, 2015, 07:04:29 AM

Quote from: WEB slicer on January 04, 2015, 06:58:56 AM

obviously, those who had coins when they were at $1100 should have sold. unfortunately, i was sitting on so many i could not liquidate them all cause i had no clue how to handle all the money. when coins dropped to $600 i figured i will sell a little here and there when i need play money. when the price dropped to $400 i said i will hold cause i had faith in BTC. now the price is in the $200 range and i'm debating if i should get out or stay in. there are three things on my mind that make me wonder if the golden days of BTC is over. the end of two silk roads, which was a major lightning rod for BTC and most are probably too scared to get back in that market. big companies taking over the mining game and squeezing out the little guy. the cost and power requirements needed for hardware cause the big guys have increased the difficulty by astronomical amounts only those with big bucks can get in the game.

If you bought it when they were ~$15 apiece, you'd still be profiting regardless of the trend. The price was fluctuating in the 300s for awhile, from 320 - 350 for awhile, before recently crashing through the $300 floor. If you wait a little longer to see whether or not the trend will continue, it may prove more beneficial in the long run. It's still a gamble either way though.

Quote from: AnonBitCoiner on January 04, 2015, 07:06:26 AM

Quote from: flipstyle on January 04, 2015, 07:04:29 AM

Quote from: WEB slicer on January 04, 2015, 06:58:56 AM

obviously, those who had coins when they were at $1100 should have sold. unfortunately, i was sitting on so many i could not liquidate them all cause i had no clue how to handle all the money. when coins dropped to $600 i figured i will sell a little here and there when i need play money. when the price dropped to $400 i said i will hold cause i had faith in BTC. now the price is in the $200 range and i'm debating if i should get out or stay in. there are three things on my mind that make me wonder if the golden days of BTC is over. the end of two silk roads, which was a major lightning rod for BTC and most are probably too scared to get back in that market. big companies taking over the mining game and squeezing out the little guy. the cost and power requirements needed for hardware cause the big guys have increased the difficulty by astronomical amounts only those with big bucks can get in the game.

I agree, that's why I asked if he was currently ahead. I would not scoff at profit, even if he bought all the way up to $100 each. That's still money in the bank.

But there's legitimate reason for concern now with the past year trend. Most, like myself, thought it could not dip below 600 when it was around 700....then thought it was unthinkable to drop below 500 when it hit 600. You get the point. Logic and market trends are not in bitcoins favor. And those expecting it to stabilize any minute now are the same ones most likely that will be hosed. Because there are still a lot of people out there that are way ahead and happy to dump their cargo on a sinking ship.

I sold most of my holdings about a month ago and I have no regrets. Matter of fact, I consider it a Godsend I was still able to salvage money. If it drops to ridiculously low numbers (double digits), I'll probably jump in and dabble a bit. But until then, the market just doesn't 'feel' right at all to me. It's felt like a 4 alarm fire for quite some time now.

HOLD!!! Son you have come too far now to let go!?! HOLD!!!

i got in when BTC was at $2. i was always about hold, and it paid off for me. but with SR gone and the big companies controlling the market hold isn't logical any more. hold is purely hope at this point.

right now i'm thinking about this saying, wish in one hand, shit in the other, see which one fills up first.

Quote from: WEB slicer on January 04, 2015, 07:17:58 AM

I smack myself silly every time I think about how I never sold my 500 ounces of silver when it was still at $28 an ounce a little over a year ago.

Fuck my life.

precious metals is different. it's been valued since the mayans and egyptians. as long as society is still civilized and trading you can never go wrong holding those type of goods.

Sell off what you wouldn't want to lose. Keep an amount that you can stand to lose.

Hold or dump depends on your financial situation and the % of your net worth you have invested in cryptocurrencies.
You should never base your trading action on what the price is doing.

This pattern will keep repeating itself we are in the middle of peaks at this very moment and after time again to new heights. No reason why this would not happen again network keeps growing on and on.

for me, it's less about the price and more about the points i made in the first post.

BTC was at it's best when we were GPU mining. anybody could get in the game. i had four 6990 going and was killing it. those days are gone. only the big boys can mine anything substantial cause of price power and difficulty. and whether you used SR or not it was a big part of where you dump your coins for alot of people. without it where do you spend your BTC? only here to trade for bullshit that you can get from any major retailer.

Quote from: WEB slicer on January 04, 2015, 07:32:06 AM

for me, it's less about the price and more about the points i made in the first post.

Ahhh rich enough yes? Well what you doing here then go hug your wife and play with your children or make some if you don't have any yet.

Dump it all then

Quote from: WilderX on January 04, 2015, 07:32:03 AM

LOL!

i also think that $1100 jump was either.....

A) MTgox trying to manipulate the market fraudulently for profit.

B) government or big money trying to test/crash the system.

i don't think we will ever reach those numbers again.

It really depends on how much your have and what its worh to you.
I would say hold but if you cant afford to loose what you have if something crashes the market then sell enough and hold what you need to live in fiat, then hold some savings in BTC.

I'd rather hold, until it rise again. Think about this.... Lots of hoarders have bought loads of Xmas gifts and possibly paid for holidays and this will have an downward affect on the price. {More BTC on offer on exchanges, and less people, willing or capable to buy it}

How many people make huge investment decisions, in December/January anyways? {Lots of clever people buy up the bargains}

Things will pick up again, after the hangover spending affects have calmed down. Wink

Cali will soon be handing out coin as foodstamps

and since you can't just print coin