Best Time To Sell In Over A Year

[adamstgBit]

Best Time To Sell In Over A Year

ya thats true but, why dose it feel like its the worst time to sell?

Well long-term I believe the trend is up. I think we are due for a correction. Given $10-$12 was previous resistance 1 year ago. That has come credence in market direction at least in the short-term (4 weeks or so).

i think a correction could happen anytime but it could still go up quite a bit b4 it happens.

I sold some, i will sell more if it just keeps on shooting up

[Yuhfhrh]

Best Time To Sell In Over A Year

ya thats true but, why dose it feel like its the worst time to sell?

Well long-term I believe the trend is up. I think we are due for a correction. Given $10-$12 was previous resistance 1 year ago. That has come credence in market direction at least in the short-term (4 weeks or so).

i think a correction could happen anytime but it could still go up quite a bit b4 it happens.

I sold some, i will sell more if it just keeps on shooting up

You mean like this? http://www.youtube.com/watch?v=Lzl5t1Sracc

[RodeoX]

Should we bump this thread every day as the price goes up?

[adamstgBit]

Should we bump this thread every day as the price goes up?

Bump!


not only is this the best time to sell in over a year
its also the best time to short all the bitcons...
the rally has stopped.
the vol. is dropping.
the price is sure to fallow

[cypherdoc]

Should we bump this thread every day as the price goes up?

Bump!


not only is this the best time to sell in over a year
its also the best time to short all the bitcons...
the rally has stopped.
the vol. is dropping.
the price is sure to fallow

Translation:

Dear Gaud,

I know I've done a bad thing.  I sold @$9.5 and then more over $10.  I am a victim of my own greed.  I'm so sorry.  Please let the price dump back to $9.5 and I promise, on the Holy Bible, that I will buy back then.  If you could please find it in your heart to ignore the fact that I will have made a bit from those I sold over $10 then I promise I will never sin again.  

Amen,

Adam

[ElectricMucus]

We could head straight to 13 on the other hand if we drop down to 9.5 chances are to drop some more are very high.

It's a gamble regardless.

[molecular]

Sell for what? Something spat out of a printing press and called 'real money' because its backed by a broken system? This is the first time I've bothered saving in my life, I'll convert some to that other crap when needs be but the bulk is staying in for the long haul.

+1.

You don't "sell BTC", you "buy USD".

[ElectricMucus]

Sell for what? Something spat out of a printing press and called 'real money' because its backed by a broken system? This is the first time I've bothered saving in my life, I'll convert some to that other crap when needs be but the bulk is staying in for the long haul.

+1.

You don't "sell BTC", you "buy USD".

Does not compute.

If nobody is around to sell them there can be no way to acquire them. Ideological dogma never helped anybody...

[fcmatt]

Sell for what? Something spat out of a printing press and called 'real money' because its backed by a broken system? This is the first time I've bothered saving in my life, I'll convert some to that other crap when needs be but the bulk is staying in for the long haul.

+1.

You don't "sell BTC", you "buy USD".

Crap? That is the technical term for USD? One of the most desirable currencies when global instabilities appear? That crap aint going anywhere in our lifetime. A more rational person would think the opposite and figure btc is crap. Btc... Something dreamed up by an anonymous person that is spitted out by a software program and beloved and valued by internet fanboys? That in a span of a few years could be replaced by something else and dropped like myspace? Fickle internet users are fickle.

+1

That should get the natives riled up.

[molecular]

Sell for what? Something spat out of a printing press and called 'real money' because its backed by a broken system? This is the first time I've bothered saving in my life, I'll convert some to that other crap when needs be but the bulk is staying in for the long haul.

+1.

You don't "sell BTC", you "buy USD".

Does not compute.

If nobody is around to sell them there can be no way to acquire them. Ideological dogma never helped anybody...

Huh? I'm confused... Nobody around to sell BTC? Is that what you're saying?

[ElectricMucus]

Sell for what? Something spat out of a printing press and called 'real money' because its backed by a broken system? This is the first time I've bothered saving in my life, I'll convert some to that other crap when needs be but the bulk is staying in for the long haul.

+1.

You don't "sell BTC", you "buy USD".

Does not compute.

If nobody is around to sell them there can be no way to acquire them. Ideological dogma never helped anybody...

Huh? I'm confused... Nobody around to sell BTC? Is that what you're saying?

I somewhat misread your post, that was what I initially wanted to say.


The point of the dogma remains.... Problem is most folks vision of an economic model for btc goes like this:
acquire bitcoins
hope for the price to go up

profit



That is also, for me a good argument to sell bitcoins right now. Prices went up more in the last few months that growth would support it. Right now most ppl still appear as "strong hands" but I think that will change quickly if we dip down a little in prices.

[ElectricMucus]

You still have to pay transaction fees to get your fiat into and out the exchange and pay the fees. I'd say all together the slippage you would have to pay is greater than the current inflation in the fiat economy (which has been deflating for some goods btw)
All in all you'd be better off accumulating your fiat and buying the dips than "buy buy buy"

[bb113]

I've been going on about these things for about a year now to people I know, just recently people are starting to mention that "they really should get a few". There is a huge bubble in the making, mark my words.

[molecular]

Sell for what? Something spat out of a printing press and called 'real money' because its backed by a broken system? This is the first time I've bothered saving in my life, I'll convert some to that other crap when needs be but the bulk is staying in for the long haul.

+1.

You don't "sell BTC", you "buy USD".

Does not compute.

If nobody is around to sell them there can be no way to acquire them. Ideological dogma never helped anybody...

Huh? I'm confused... Nobody around to sell BTC? Is that what you're saying?

I somewhat misread your post, that was what I initially wanted to say.


The point of the dogma remains.... Problem is most folks vision of an economic model for btc goes like this:
acquire bitcoins
hope for the price to go up

profit



That is also, for me a good argument to sell bitcoins right now. Prices went up more in the last few months that growth would support it. Right now most ppl still appear as "strong hands" but I think that will change quickly if we dip down a little in prices.

What's the economic model for gold?

I thought earlier today about the question: "What if bitcoin was exclusively used as a store of wealth? Would it still be valuable?". This question came up because I realized that the actual need for currency to make transactions is a lot lower than I had previously thought. At current prices, only about 30,000 BTC are needed to support the silkroad, which is arguably one of the more sizeable parts of the economy. Let's assume a high number (in dollar-terms) of transaction volume done in bitcoin each day: 2,500,000 USD (37 times silkroad). This would justify a price of roughly 2.5e5 / 1e7 = 0.25 USD/BTC! Ergo bitcoins value is already almost exclusively derived from its function as a store of wealth ("hope that price will go up").

If above conclusion is correct, we don't have to worry about an economic model for bitcoin if all we want is higher value.

[ElectricMucus]

If above conclusion is correct, we don't have to worry about an economic model for bitcoin if all we want is higher value.

Good luck with that. You'd be up against an increasing number of people who'd you all have to convince not to sell.

[molecular]

If above conclusion is correct, we don't have to worry about an economic model for bitcoin if all we want is higher value.

Good luck with that. You'd be up against an increasing number of people who'd you all have to convince not to sell.

This should be already the case now... yet the selling you talk about is not happening.

[ElectricMucus]

That is also, for me a good argument to sell bitcoins right now.

Didn't I read some thread you started where you mentioned selling at 6.5? IIRC your post gave me the impression you moved entirely into fiat at that time. Perhaps I got the wrong impression, or you bought back in somewhere above 6.5 (since it's been going up ever since).

I said it could be a bear trap right at the beginning, Guess what is was one, still we went down.

[ElectricMucus]

If above conclusion is correct, we don't have to worry about an economic model for bitcoin if all we want is higher value.

Good luck with that. You'd be up against an increasing number of people who'd you all have to convince not to sell.

This should be already the case now... yet the selling you talk about is not happening.

All bubbles pop.

[molecular]

If above conclusion is correct, we don't have to worry about an economic model for bitcoin if all we want is higher value.

Good luck with that. You'd be up against an increasing number of people who'd you all have to convince not to sell.

This should be already the case now... yet the selling you talk about is not happening.

All bubbles pop.

I heard they pop all the way when they do...

[ElectricMucus]

If above conclusion is correct, we don't have to worry about an economic model for bitcoin if all we want is higher value.

Good luck with that. You'd be up against an increasing number of people who'd you all have to convince not to sell.

This should be already the case now... yet the selling you talk about is not happening.

All bubbles pop.

I heard they pop all the way when they do...

That was Nagle not me.