Always buy and hold? The stars the limit? This is typical bubble think... And it is the reason why so many get burned, once it bursts, cause "it is just a temporary pull back", sure you benefit and are rewarded for bubble think as long as the bubble continues to be inflated. But one day they just go POOF!Originally Posted by Shami-Amourae
I sold most of my Bitcoins around $4-18 at a profit. They then went up to about $1250.
I sold most of my Litecoins around $3.80 at a profit. They then went up to about $50.
Both were horribly bad moves, in hindsight. I'm saying this based on my experiences.
How many previous bubble manias have you participated in? Do you remember the details of the Internet bubble ca 1998-2000?
Sell half when you've doubled, then double down with the rest until you've made 4x those.
The 4x cashout you can then use to buy back in if it keeps expanding into new bubble territory.
I do, and I don't remember being able to purchase equipment or services with Cisco stock.
Everyone back then knew Cisco, yahoo, Microsoft, Apple, etc. Go to the average Joe on the street and ask him or her what is a Bitcoin. No where near a bubble at the moment. When everyone knows about it inside and out, then it's time to reconsider your holdings and looking to get out before the rush to the exits. That is if you're into investment. If you're in it for the idea and promotion behind it, you won't sell.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
I'm in my 20s. I don't think Bitcoin is a bubble. Cryptocurrencies are not going away. It's going up with the adoption rate. I don't even want to tell any of my cryptocurrencies for cash.
Hate it all you want but you're missing out on something that is not going away. You'll eventually accept it, but you'll be buying in when the prices are $10,000 or maybe $100,000 a Bitcoin.
Agreed, its a decentralized solution to a centralized power problem is what it really boils down to. It could of been anything really, but this is the free market looking to get away from being centrally managed and centrally controlled.
"Paper is poverty, it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788
"The greatest threat to the state is when the people figure out they can exist without them." - Twisted Titan
"Some Libertarians are born, the government makes the rest."
"Voting is nothing more than a slaves suggestion box, voting on a new master every few years does not make you free."
Shami-Amourae (3rd December 2013)
The sad thing is I'm starting to think Bitcoin is literally destroying the precious metals market. The Liberty community is being split in half. The younger generations who are more tech savvy are going for cryptos and the older generations are thinking WTF is this shit?! A lot of the money is going into cryptos while bankers and older generation Truthers hold onto Gold/Silver when that may not be the future after all. If cryptos actually work there will be no more bankers. They will go the way of horse and carriage. No more Rothschild scum.
In other words precious metals may not be the safe haven, but it actually may be cryptos.
Yeah...you will always find even greater fools to pay you $100,000 for your Bitcoins. The supply of fools who actually have a hundred thousand dollars to spend on your Bitcoins is unlimited.
I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.
mick silver (3rd December 2013)
Exactly.
I'm the infamous Fred of GIM - Jewboo kindly turned over his account to me.
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