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Who would sell a watch for Bitcoin?

MaiLollo
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CTS-V CTS-V
So here's one for ya.....

I bought one Bitcoin for the hell of it back in Oct '15 for ~$215 while I was deployed.

So....do I sell today for $17,700 and buy another Speedy and a Rolex Explorer and have something "hard" to show for the cryptocurrency. Or do I let it ride for the supposed $50k peak in the summer of '18.

Bottomline: As long as Bitcoin doesn't drop below $215 I'm still at a profit.

Thoughts?
In 2014 I knew a guy that was very happy about the fact that his initial 200€ invested in bitcoin had become 4000€. What a profit, I'll do X Y and Z with it. Then Mt Gox failed, they were worth 100€ and his butt hurt.
A profit is such only when you exit a position, in the meantime, it's just a number going up and down.

I'm not sure if he invested again in the BTC since then...
Your call 😀
 
kippyk
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CTS-V CTS-V
So here's one for ya.....

I bought one Bitcoin for the hell of it back in Oct '15 for ~$215 while I was deployed.

So....do I sell today for $17,700 and buy another Speedy and a Rolex Explorer and have something "hard" to show for the cryptocurrency. Or do I let it ride for the supposed $50k peak in the summer of '18.

Bottomline: As long as Bitcoin doesn't drop below $215 I'm still at a profit.

Thoughts?

That's the beauty of bitcoin, there is never a rational reason to buy or sell! Buy a watch for $8k and let the rest ride. If it doubles again, buy another watch! Or...put the bitcoin on the Coinbase exchange and place a "Stop" sell order on it. Basically, you are selling the coin if it goes below a certain point. That will protect your downside.
 
kippyk
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I think the biggest threat to bitcoin is its performance in a financial crisis. When the next one comes, will it crash in price? The liquidity of bitcoin in a crisis is unknown.
 
mayankyadav
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CTS-V CTS-V
So here's one for ya.....

I bought one Bitcoin for the hell of it back in Oct '15 for ~$215 while I was deployed.

So....do I sell today for $17,700 and buy another Speedy and a Rolex Explorer and have something "hard" to show for the cryptocurrency. Or do I let it ride for the supposed $50k peak in the summer of '18.

Bottomline: As long as Bitcoin doesn't drop below $215 I'm still at a profit.

Thoughts?
sit on it! please!
 
kippyk
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I will be exiting BTC sooner rather than later. After studying and working with it extensively the past few weeks, I am thinking that a different crypto will win in the long run. The functionality of BTC has been suffocated by the speculation and network traffic that is taking place. it cost me $24 to move some BTC today. It only cost me $0.07 to move Litecoin. BTC is becoming non-functional very quickly. I expect a wave of bad press and scandals soon enough.

I remember talking with a trader in Chicago who was worth a cool 1.5 million dollars on paper in the 80's. After the Black Friday stock crash, she was worth $0. She could not trade out of her positions due to the system shutting down. BTC trading will shut down in a heartbeat. I do not want to be like her.
 
repoman
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kippyk kippyk
I will be exiting BTC sooner rather than later. After studying and working with it extensively the past few weeks, I am thinking that a different crypto will win in the long run.

I tend to agree... the first in the market rarely ends up winning as everyone can now iterate and refine; fees for BTC will become a huge deal when and if it stabilizes. I think there is still a long way to go before we are there, so for now, enjoy the ride.
 
speedbird
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XRP will be the coin to unseat BTC. The inevitability of a large corporation with the banking industry behind it to smash the pirates at their own game is certain.
 
jetkins
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pennsyl936 pennsyl936
Not a miner but I wonder do you have a noticeable increase in your monthly electricity bill?
My PC currently spends its otherwise-idle cycles crunching numbers for the World Community Grid. If I was to get (back) into mining, I doubt I'd see much change in my bill.
 
jetkins
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I have a Bitcoin that I bought with a hundred bucks that I received as a Christmas gift several years ago, plus a few more Bitcoin bits that I mined shortly thereafter - this was back in the day when it was still feasible to mine with a regular consumer graphics card. As the value ballooned recently, I cashed in a few bits and bought myself a nice Speedy Tintin, and as it continues to grow I'm taking out a little bit here and a little bit there. It's basically a free money tree, and the best Christmas gift ever. And if it collapses tomorrow, I'll still be way ahead.
 
jetkins
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It'll be back; it's already bounced back up to $12.5k. May only be a temporary recovery, but I doubt it will drop below $10k before it resumes its steady climb.
 
Kali77
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Sell off done. Brought it down to let some of the big boys in at a better price point imo.
 
ndgal
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kidkimura kidkimura
You're right, 1300% YoY growth is just not acceptable.

Personally, I would never invest my money in something that is not tangible and can disappear overnight.

Bitcoin can be worth $0.00 one of these days. (It might never happen, but the possibility is there).
My watch collection will never be worth $0.00 (Unless a Zombie Apocalypse happens. And even then, a watch will be worth something more than $0.00....).
 
kidkimura
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ndgal ndgal
Personally, I would never invest my money in something that is not tangible and can disappear overnight.

Bitcoin can be worth $0.00 one of these days. (It might never happen, but the possibility is there).
My watch collection will never be worth $0.00 (Unless a Zombie Apocalypse happens. And even then, a watch will be worth something more than $0.00....).


Like a share of any company on any stock market in the world? Or any fiat currency which is worth something only because it can pay taxes in the country from whence it came? (See e.g. Venezuela, Argentina)
 
ndgal
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kidkimura kidkimura
Like a share of any company on any stock market in the world? Or any fiat currency which is worth something only because it can pay taxes in the country from whence it came? (See e.g. Venezuela, Argentina)
Exactly. Will never invest in stocks either. I'm stupid like that...
 
ICONO
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Fallen off a cliff in the last 5 days ……with a small rally today …it is still a make-believe currency
 
jetkins
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Yeah, it dropped like a stone to only a mere 1,100% up on this time last year.
 
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