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CryptoCurrency Discuss all CryptoCurrencies / coins and their use for personal or business purposes. Bitcoin (BTC) is possibly the best known but there are numerous crypto currencies, this is the forum to discuss them all.

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  #23  
Old 03-06-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by slokor View Post
No way to know if this is actually the peak though.
Many thought the peak was around $1000 and were proved wrong.
By peak I mean the highest its ever been. Usually when it hits that point, the value comes crashing down. It happened earlier this year when bitcoin hit its last peak, it went from around 930/btc to 600/btc within a matter of a day or so.

The same could happen now. So, again I dont think its wise to invest now. Its wiser to invest when it next drops in value - to maximise gains. But then again this is all speculation, its hard to tell what will happen for certain.
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  #24  
Old 03-06-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by Haidukken View Post
I hate BTC, I really do.

You read all sorts of stories online about people paying 10k BTC for a pizza and some stories about a guy who was looking for his HD in a landfill because it had some BTC on it, but this is my BTC story... And I hate it.

That's the story of everyone's life. Even people who are successful have what ifs. Hopefully, if you work hard and don't give up, you'll have something to show for your efforts when it's all over.
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  #25  
Old 03-06-2017
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Default Re: Glad I sold at $1150ish...

I have always wanted to buy some of those ASIC mining machine and mine some bitcoins. The power where I live is pretty cheap.
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  #26  
Old 03-06-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by yotano211 View Post
I have always wanted to buy some of those ASIC mining machine and mine some bitcoins. The power where I live is pretty cheap.
I looked at that yotano - way back in 2011 or so, it would have been tight. The mining machines aren't so effective these days vs power consumption...last I checked
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  #27  
Old 03-07-2017
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Default Re: Glad I sold at $1150ish...

If you could run them off generators powered by solar power, you would probably mitigate that. Assuming the average home solar system is paid off in 6 years but is warranties through 30 years, you should see a significant savings assuming you can get credit approval for however many additional panels it would take.

Also, you would probably want many mining machines based on how much power and machines you could afford to maximize the profit. You would have to calculate your return on investment vs standard stock investments that average 5% or so per year.

I believe like many people that the bitcoin is the future unless a competing currency emerges. That would be the only foreseeable halt to its inevitable rise. If gold, silver, and palladium can rise 5-fold in 20 years; there's no reason bitcoin can't rise higher in less time unless new technology outpaces the internal deflationary system of bitcoin mining.

Now the question becomes finding the right time to buy when the market price is at the bottom. The most recent bottom was two months ago at about 800. Everyone points to the 2014 crash when the price dropped from 1200 to 200 as a signal--not only to be wary of investing--but to simply wait for the crash to find the bottom again before investing. I feel technology has increased so much in the last three years that the bottom won't be much lower than 800. It could rise to 2000 at the end of this year. Good luck.
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  #28  
Old 03-07-2017
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Default Re: Glad I sold at $1150ish...

Was thinking of selling some BTC on localbitcoins. Anyone have experience using that venue? I will not be accepting any high risk payment methods (such as paypal) if I were to give it a go.
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  #29  
Old 03-07-2017
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Default Re: Glad I sold at $1150ish...

Rise to 2000? Hmm that's quite the lvl to aim for...what's to stop it from dropping?
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  #30  
Old 03-10-2017
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Default Re: Glad I sold at $1150ish...

OK... Can someone tell me why and how the value of a Bitcoin just dropped in less than 5 minutes by more than $200...?
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  #31  
Old 03-10-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by slokor View Post
OK... Can someone tell me why and how the value of a Bitcoin just dropped in less than 5 minutes by more than $200...?
May want to read my post above - this is the nature of anything volatile.

Bitcoin should be treated like investments - always research and stay up to date with things. Bitcoin was booming ahead of the SEC ETF decision on March 11. I would presume that had something to do with it.
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  #32  
Old 03-10-2017
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Default Re: Glad I sold at $1150ish...

It's how it goes.

If you have no plans to cash out anytime soon than don't worry because it will be up again.
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  #33  
Old 03-11-2017
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Default Re: Glad I sold at $1150ish...

Yeah not cashing out anytime soon and not overly concerned about it. its already bounced over $100 of that drop.
Just honestly curious how the value can drop by $200 in literally 5 minutes.
Someone made a bundle of money on that - that's for sure. Kinda scary how this system can be manipulated...
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  #34  
Old 03-11-2017
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Default Re: Glad I sold at $1150ish...

Quote:
Originally Posted by slokor View Post
Yeah not cashing out anytime soon and not overly concerned about it. its already bounced over $100 of that drop.
Just honestly curious how the value can drop by $200 in literally 5 minutes.
Someone made a bundle of money on that - that's for sure. Kinda scary how this system can be manipulated...
Any monetary system has been manipulated since money has been born. There is no shocking news there. The spikes create opportunities. Don't fall in love in something that makes you money. Takes advantage of any opportunities whenever you can....
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  #35  
Old 03-15-2017
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Default Re: Glad I sold at $1150ish...

I keep feeling like I miss out, both when I see what Bitcoin does and what Apple does, both times I was sure that they were going to surge, and I happened to be right, but had nothing in either.

But if it helps anyone else, the way I deal with it is I look at the year long chart, and say bitcoin, where it was 800 some three months ago, and now it's 1200, I think of having 800 to buy inventory, shop for deals, or buy bigger bulk lots of stuff I resell (assuming many/most of us here are resellers of stuff) and making $400 on an $800 investment is not that impossible. Plus with nearly no chance of anything bottoming out, and so much more certainty. And after doing that, I'm better equipped with knowledge and experience to do that again (or something similar) in the NEXT 3 months... and again...and again... instead of feeling like something was forever lost because I didn't catch that one Bit Coin wave.

When I think of it like that, I'm feeling better with my regular sales/purchasing routine, but yes, how nice it would be to put a lump sum in and take almost twice that out again a year later with no effort...
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  #36  
Old 10-28-2017
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Default Re: Glad I sold at $1150ish...

Nice topic to look back at. Looks like $2k was the prediction at the beginning of the year. Now everyone, time to post how much you made or would have made had you invested. Actually, it might be better to wait till January 1 in case it crashes :D
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  #37  
Old 10-28-2017
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Default Re: Glad I sold at $1150ish...

Yeah the good old days a whole of 7 months ago...
Dont think anyone saw just how big bitcoin is going to become in such a short while. Or maybe some did - but they never shared that info with me damnit!
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  #38  
Old 11-16-2017
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Default Re: Glad I sold at $1150ish...

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Glad I sold at $1150ish...
Are you still glad you sold at $1,150?
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  #39  
Old 11-16-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by Play View Post
Are you still glad you sold at $1,150?
Now now... no need to rub it in.
We ALL sold some at those lower prices.
Hind sight is always 20/20.
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  #40  
Old 11-16-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by Play View Post
Are you still glad you sold at $1,150?
He'll be sure to ask you if you wish you would have sold at 7k when it falls to 2k lol
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  #41  
Old 11-16-2017
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Default Re: Glad I sold at $1150ish...

Just a little banter guys... I'm sure we'll be looking back at these threads when a single BTC is worth $200k+ and thinking how miserly these figures were.
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  #42  
Old 11-16-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by Play View Post
Are you still glad you sold at $1,150?
Don't you start with me!!

I have of course bought back in countless times already.
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  #43  
Old 11-16-2017
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Default Re: Glad I sold at $1150ish...

Dont worry, I started mining when ETHER was at $25 or so and was getting 2-3 coins per day. Now with it being around $330 and only get .22 coins per day. I still sell every coin I get within the same day. OH WELL!!!

I'm not going to get rich from this but I did buy my mom a used Toyota Prius from the mining profits.
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  #44  
Old 11-16-2017
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Default Re: Glad I sold at $1150ish...

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Originally Posted by yotano211 View Post
Dont worry, I started mining when ETHER was at $25 or so and was getting 2-3 coins per day. Now with it being around $330 and only get .22 coins per day. I still sell every coin I get within the same day. OH WELL!!!

I'm not going to get rich from this but I did buy my mom a used Toyota Prius from the mining profits.
What sort of rig do you have for mining? That sounds like a good deal to me?
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