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-   -   Goal: No Sell Bitcoin 2018 (https://www.aspkin.com/forums/cryptocurrency/112597-goal-no-sell-bitcoin-2018-a.html)

aspkin 11-29-2017 12:46 AM

Goal: No Sell Bitcoin 2018
 
Alright!

After seeing the huge rise in bitcoin I have come to the conclusion that I suck at trading bitcoin. *even though I have made a good 500-600% returns this year

Therefore I have set a goal for myself.

I will not sell any bitcoin from here until the end of 2018. Any new bitcoin I acquire will not be sold but will be stored away safely on a hardware wallet.

That's the goal.. just sit and acquire and don't look at the price.

I urge others to follow along with me. :)

Edit.

I'm just aspkin.

Don't take any financial advice from me.

While yes I have made good money off bitcoin in the last year (everyone has with bitcoin), I have made mistakes.

My secret power is I have the money to fix those mistakes and take advantage of the situation while others may not.

I don't invest more than 10% of my net worth into bitcoin.

I invest what I'm willing to lose.

I have no need for the extra money I put into Bitcoin, it's less about investing and more about a game for me. You win when you have the most bitcoin.

This thread will be about my journey to holding for 2018 and what that will bring. It's an experiment and part of the game for me. :)

slokor 11-29-2017 01:11 AM

re: Goal: No Sell Bitcoin 2018
 
Been following that route for quite some time now. Happy that I did.
I can see it reaching 6 figures within 2 years.

slokor 11-29-2017 01:12 AM

re: Goal: No Sell Bitcoin 2018
 
By the way - here comes the dip. Looks like there might be a decent opportunity to buy in soon.

jmag91 11-29-2017 01:26 AM

re: Goal: No Sell Bitcoin 2018
 
Hey guys, I would love to do this with you!!!

I have a problem though, I truly do not UNDERSTAND Bitcoin. I get what it is, but WHERE do you start?

I wouldn't have the slightest clue where to buy it, or where to store it.

Can you guys help me with that?

Thank you so much in advance.

slokor 11-29-2017 01:27 AM

re: Goal: No Sell Bitcoin 2018
 
Heres a basic guide:
https://www.coindesk.com/information/
And you can get your first wallet at Coinbase. A lot of people new to Bitcoin seem to get started there.

empirestate 11-29-2017 02:22 AM

re: Goal: No Sell Bitcoin 2018
 
BTC is a wealth creator in the long term... Once in a lifetime opportunity!

aspkin 11-29-2017 02:23 AM

re: Goal: No Sell Bitcoin 2018
 
Let's do it!

Play 11-29-2017 03:21 AM

re: Goal: No Sell Bitcoin 2018
 
See I followed this approach over the last 12 months and regretted it because as it rose it was exciting and as it dipped I made no gains. So what I began doing was buying the dips and selling the highs.

I was getting my predictions right, so it was working in my favour, until now... when the value is just exploding at an astronomical rate so its way harder to predict.

Looking at it retrospectively, when I first had bitcoins and they're value was a mere $750usd compared to now makes me kick myself for not buying more... but I think same can be said when BTC hits 10x what it is now... so you know what, holding on may just be the way to go.

aspkin 11-29-2017 03:35 AM

re: Goal: No Sell Bitcoin 2018
 
Long term it seems to work out.. short term trading is a way to lose out on gains..

HoLD!!

elmo 11-29-2017 04:35 AM

re: Goal: No Sell Bitcoin 2018
 

duffrageous 11-29-2017 05:32 AM

re: Goal: No Sell Bitcoin 2018
 
Bitcoin price goes up 10x next year and dollar drops by 10%. The next two years will be huge for bitcoin price and blockchain tech. Maybe eBay will start allowing bitcoin trading for USDT. They allow gold bullion sales, so I don't see why they are stuck in the Stone Age still.

unkown5454 11-29-2017 08:23 AM

re: Goal: No Sell Bitcoin 2018
 
normally id be scared of buying the top...but with btc...what the fxck is a top anymore

phaz0rz 11-29-2017 08:51 AM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by unkown5454 (Post 887484)
normally id be scared of buying the top...but with btc...what the fxck is a top anymore

Exactly. I've been putting off buying for 3 days because it's been "too high". I'm just going to make the purchase today....

slapped 11-29-2017 08:52 AM

re: Goal: No Sell Bitcoin 2018
 
Does anyone know anything about the Bitcoin Investment Trust? (Symbol: GBTC)?

Play 11-29-2017 09:35 AM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by slapped (Post 887486)
Does anyone know anything about the Bitcoin Investment Trust? (Symbol: GBTC)?

Not as good as holding Bitcoin itself. More returns when you hold the actual asset. I sold my GBTC at the last peak and I had to put up with a lot of fees, such as stamp duty etc. (not sure if that happens in the US though). Not worth it IMO.

Bitcoin is approaching 11.5k... WOW! :shocked: :pop2:

phaz0rz 11-29-2017 09:43 AM

re: Goal: No Sell Bitcoin 2018
 
This is just stupid. In the time it's takes me to make a deposit at my coinbase attached bank, BTC has gone up like $600. But I guess at this pace it's never too late to buy. WTF..

Play 11-29-2017 09:50 AM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by phaz0rz (Post 887500)
This is just stupid. In the time it's takes me to make a deposit at my coinbase attached bank, BTC has gone up like $600. But I guess at this pace it's never too late to buy. WTF..

What are the odds that when your funds are ready, you buy, and the price drastically dips? :p

Jokes aside, If you want to buy bitcoins at good prices, the funds just need to be ready to go. There just isn't any time to wait around for deposits to clear.

rsot 11-29-2017 10:05 AM

re: Goal: No Sell Bitcoin 2018
 
Great advice bigboss.

nate 11-29-2017 11:24 AM

re: Goal: No Sell Bitcoin 2018
 
The way I see it, BTC can't be compared to anything else in the past to claim its a bubble. Take gold for instance, I can't see anyway how anyone could possibly know exactly how much gold is out there. 1 kilo of gold ='s $41,500 and bitcoins market cap ='s $178.36B so (178.36B/41,500)=4,297,831 kilograms of gold

There is suppose to be 171,300 metric tons of gold. That's = to 171,300,000 kilograms.

That would put golds market cap at 710.89B

We know exactly how many bitcoin there are, no one will be coming out claiming they found more than 21m of them.

So the way I see it, we have a long way to go.

If my math is wrong I wouldn't be surprised so don't murder me.

Edit: I'm right there with ya Boss.

slapped 11-29-2017 02:38 PM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by nate (Post 887522)
The way I see it, BTC can't be compared to anything else in the past to claim its a bubble. Take gold for instance, I can't see anyway how anyone could possibly know exactly how much gold is out there. 1 kilo of gold ='s $41,500 and bitcoins market cap ='s $178.36B so (178.36B/41,500)=4,297,831 kilograms of gold

There is suppose to be 171,300 metric tons of gold. That's = to 171,300,000 kilograms.

That would put golds market cap at 710.89B

We know exactly how many bitcoin there are, no one will be coming out claiming they found more than 21m of them.

So the way I see it, we have a long way to go,,,,,,,,


Hold the bus Nate,,,,,I am the FIRST to admit that I don't know much about bitcoin,,,But I DO know that the price of EVERTHING is based on DEMAND and competition.

Gold is GOLD,,,but Bitcoin is a Cyrpto currency it is one of MANNY.

Now the only uses that I can see for crypto currencies are to:

A) Move Money from Point A to B securely and in complete anonymity
B) Move Money from Point A to B FREE of exchange rates

It is B that is the BIG question mark. The usefulness for crypto currencies for Big Multinational Companies, Heck even Governments is CLEAR and one can easily see how they could make use of them.

So, the potential is Enormous. The Questions are will crypto currencies be embraced, (I think they most certainly will) and will there be a "Preferred" or benchmark Crypto Currency, if so, Which? that could be disastrous for the rest of them.

Now a New player is emerging its called Ripple, the interesting thing is that this one has the interest of the world banking community. Potentially one that Bought/Sold/Traded "within" the current worldwide banking system,,,so there is a LOT going here and Caution is KEY

aspkin 11-29-2017 02:49 PM

re: Goal: No Sell Bitcoin 2018
 
Bitcoin is on sale!!!

slokor 11-29-2017 02:50 PM

re: Goal: No Sell Bitcoin 2018
 
Buy on the dip folks - its sinking like a rock! $9500 and dropping.
Was to be expected.
Lots of people making a lot of money right now but ill keep holding on to mine.

123 11-29-2017 02:50 PM

re: Goal: No Sell Bitcoin 2018
 
Couldn't agree more with holding, its becoming little and little more of a topic of discussion even with people that barely know anything about bitcoin, and now with more and more celebrities talking about it, its getting even more interest from your regular joe. Once its integrated more into mainstream, the potential is incredible

Update: now seems like a good opportunity to get in on the dip

Play 11-29-2017 02:55 PM

re: Goal: No Sell Bitcoin 2018
 
I'm predicting the drop will go down to around $8k USD.... I'll buy more then. Just a bit sad to see value of existing portfolio depreciate... but we must hold. :)

What really annoys me though is that we wont find out till tomorrow what it was that caused this decline today.

duffrageous 11-29-2017 02:59 PM

re: Goal: No Sell Bitcoin 2018
 
You have to pay 1.05 for Tether. Dollars worth more than bitcoins now! Now it's .93 for Tether. No point cashing out your Tether for precious dollars. The whales can control a nice percentage of the dips and surges just by selling 10-100 btc at a time.

slokor 11-29-2017 03:12 PM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by Play (Post 887555)
I'm predicting the drop will go down to around $8k USD.... I'll buy more then. Just a bit sad to see value of existing portfolio depreciate... but we must hold. :)

What really annoys me though is that we wont find out till tomorrow what it was that caused this decline today.

Dont see it going quite that far down.
I think people will buy the dip long before it reaches anywhere near that.

bjammin 11-29-2017 04:05 PM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by aspkin (Post 887410)
Alright!

After seeing the huge rise in bitcoin I have come to the conclusion that I suck at trading bitcoin. *even though I have made a good 500-600% returns this year

Therefore I have set a goal for myself.

I will not sell any bitcoin from here until the end of 2018. Any new bitcoin I acquire will not be sold but will be stored away safely on a hardware wallet.

That's the goal.. just sit and acquire and don't look at the price.

I urge others to follow along with me. :)

I would like to be the first to volunteer to hold your BTC for you so you do not spend it. I am willing to waive my fees for this service!

GreenBean 11-29-2017 08:41 PM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by duffrageous (Post 887464)
Bitcoin price goes up 10x next year and dollar drops by 10%. The next two years will be huge for bitcoin price and blockchain tech. Maybe eBay will start allowing bitcoin trading for USDT. They allow gold bullion sales, so I don't see why they are stuck in the Stone Age still.

People are uneasy about change.

It takes time, courage, knowledge and luck to deal with something new.

Cyrotocurrencies are like learning a foreign language.

Where we will find a way, imagine the likes of Ebay or amazon formulating bitcoin into their businesses.

If or when that happens, we will know how massive the financial changes will be

:coffee:

aspkin 11-29-2017 11:00 PM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by aspkin (Post 887552)
Bitcoin is on sale!!!

If you bought bitcoin this morning when it was on sale (8k!!), you should be pretty happy right now.. it's nearly 11k again.. damn!

jmag91 11-29-2017 11:10 PM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by aspkin (Post 887643)
If you bought bitcoin this morning when it was on sale (8k!!), you should be pretty happy right now.. it's nearly 11k again.. damn!

I bought for the very first time today at $9500! =}

slokor 11-29-2017 11:11 PM

re: Goal: No Sell Bitcoin 2018
 
Was there any doubt it would bounce back in a hurry?
HODL for the next few years - retire a millionaire.

Futuremogul888 11-29-2017 11:45 PM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by aspkin (Post 887643)
If you bought bitcoin this morning when it was on sale (8k!!), you should be pretty happy right now.. it's nearly 11k again.. damn!

That was a flash crash. Exchanges never let you buy at flash crash prices. I saw on forums today that Coinbase and Gemini went down when that happened

duffrageous 11-30-2017 03:00 AM

re: Goal: No Sell Bitcoin 2018
 
That's why you can keep your money in tether and hope tether doesn't crash. If your money was on an exchange, you could have bought in at 8700-9000 if you had a limit order ready, which is the lowest I saw it go. You had a couple minutes to manually fill an order as well as it fell. It didn't happen in a few seconds like some crashes do, but over a few minutes.

11:38 AM

https://bittrex.com/Market/Index?MarketName=USDT-BTC

GreenBean 11-30-2017 04:13 AM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by Futuremogul888 (Post 887649)
That was a flash crash. Exchanges never let you buy at flash crash prices. I saw on forums today that Coinbase and Gemini went down when that happened

Coinbase scared quite a few Downunder.

First it would not load.

Then a 404 error.

There was some talk of a message it was down for maintenance.:bird:

Have you heard of Wireshark ?? Been recommended for using.

phaz0rz 11-30-2017 10:43 AM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by Futuremogul888 (Post 887649)
That was a flash crash. Exchanges never let you buy at flash crash prices. I saw on forums today that Coinbase and Gemini went down when that happened

The fact that they are unregulated has made all the major exchanges crooked in my opinion. I couldn't login to CB at all during the dip but I guarantee you Coinbase was buying up all the BTC they could afford at that point. They manipulate the price and the availability of their services (e.g. buying and selling functions) based on what is most profitable for them.

:noidea:

Play 11-30-2017 10:56 AM

re: Goal: No Sell Bitcoin 2018
 
Quote:

Originally Posted by phaz0rz (Post 887727)
The fact that they are unregulated has made all the major exchanges crooked in my opinion. I couldn't login to CB at all during the dip but I guarantee you Coinbase was buying up all the BTC they could afford at that point. They manipulate the price and the availability of their services (e.g. buying and selling functions) based on what is most profitable for them.

:noidea:

I think its equally unethical practice, but also inability for their servers to handle so much traffic at once.

Does anyone know if the limit orders on coinbase go through during a price crash (even though you cannot access it)?

phaz0rz 11-30-2017 12:37 PM

re: Goal: No Sell Bitcoin 2018
 
At first I bought their explanation that the outages were being caused by the site receiving more traffic than it could handle. This was years ago when the price was still around $300. But with the millions and millions of dollars Coinbase has profited since then (not to mention the numerous venture capitalists they've brought in with additional millions to invest), I find it ridiculous they're still claiming they don't have adequate (and redundant, as is the industry practice) network systems in place to handle peak traffic. Doesn't make sense to me. They aren't bound by FDIC regulations like a bank would be so they aren't having to hold back a certain percentage of their money for reserves. Coinbase has probably made billions by now. They've made more money than they know what to do with. No reason they shouldn't have cutting edge server systems capable of handling whatever traffic the internet can throw their way, just like Google, Facebook, Amazon, etc.

It was believable on brand-new Coinbase. Today though I think it's just Coinbase shutting down the market when they want to.

To answer the question you asked, I don't have experience directly but I read on another board yesterday (during the outage) that limit orders are processed during outages. Somebody was saying that's what causes the exchanges to crash every time BTC hits a big milestone like it did yesterday. There were probably thousands of people who had their account set to SELL, SELL, SELL when BTC hit $10k, thus overwhelming Coinbase. So... maybe it was a legitimate outage and not just exchanges being shady.

Play 11-30-2017 01:02 PM

re: Goal: No Sell Bitcoin 2018
 
Whilst your right in saying they've made lots of profits, and have lots of investors on board, what you missed out on is the huge increase in users. Just in the last 2 months alone they had reported an increase of 100,000 users, twice.

When all of those users go to the site at once, there is bound to be issues. A regulated bank in America for example, unless there was financial chaos, there is no need for every single client to access online banking at the same time. But with Bitcoin trading, its a different story for reasons I don't need to elaborate on.

I'm not saying this isn't intentional, I'm saying from tech perspective, these outages are bound to happen with such immense traffic.

newjerseymax 11-30-2017 02:29 PM

re: Goal: No Sell Bitcoin 2018
 
It still killing me coming back to back to back raises. I started watching around $1000 and still cant bite. Why do I fear investing in bitcoin? I invest heavily in stocks. I am a bit of control freak and not being able to buy and sell immediately is holding me back. But why?

duffrageous 11-30-2017 04:47 PM

re: Goal: No Sell Bitcoin 2018
 
If you invest in stocks, there is no reason why you can't take 5/10/20% of your portfolio over to bitcoin. But when you double your money, you'll insist on taking more over and panic during the mini crashes. The crashes are fantastic for bitcoin. If it just kept going up forever, it could crash to 0. I'd take anything that goes up 25% and crashes 15% every couple weeks.


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