View Full Version : Buy, Sell, or Hold. What is your game plan?
KaptainBlaZzed
06-18-2011, 04:34 AM
I am debating between selling at the current price or waiting till the next difficult increase.
The next difficult increase is in about 7 days and it is predicted to be an increase of 18%.
A few day ago the predicted difficulty increase was 45% and 77% a few days prior to that.
The reduction in difficulty increase tells me that miners are starting to leave because of the price drop and because they can sell their cards for a ridiculous price right now.
You can find used 58xx and 69xx cards for sale but they are expensive.
I am leaning towards selling at the current price.
What is everybody's thought on the matter?
OldChap
06-18-2011, 05:06 AM
I have a Buy figure in mind. and I have a Sell figure in mind and I am happy to wait for either to happen before I jump. Obviously, things can happen to change my mind but for me it is a watching brief.
artemm
06-18-2011, 05:37 PM
I follow news pretty closely, so I'm *sometimes* long on BTC, and I made a few bucks worth of capital gains. But I clear out cash from my mt. gox account frequently. It's too risky to have it there and it's too risky to have it in your Bitcoin wallet. I'd advise against speculation until you've covered your costs.
A bird in the hand is worth two in the bush ;)
[XC] gomeler
06-18-2011, 07:06 PM
Been watching the BTC markets and waiting for the right moment to liquidate all the BTC I've hoarded so far. Once I've paid off all the gear I think I'll hoard and only sell enough to cover utilities. I figure bitcoin mining is a fun hobby but not much more than that for myself.
Zloyd
06-18-2011, 11:46 PM
Ive been watching the markets at bitwatch and im so tempted to play a little buy and sell :P never speculated in any thing before.
Tom128
06-19-2011, 09:37 AM
At the current rate I am doing far more than covering the electric cost. I am getting close to paying for the 3 extra cards I got for this. I am going to keep selling every coin I get until my costs are covered for that. I may keep selling afterwards so I can get the cash to build a new SB cruncher. Once I cover the costs of my new cards I MAY peak my curiosity and play around with playing the market or just holding on to see if they go back up to $30, but my main goal with this was to let my WCG rigs pay for themselves and/or fund more/better crunchers.
KaptainBlaZzed
06-19-2011, 04:47 PM
At the current rate I am doing far more than covering the electric cost. I am getting close to paying for the 3 extra cards I got for this. I am going to keep selling every coin I get until my costs are covered for that. I may keep selling afterwards so I can get the cash to build a new SB cruncher. Once I cover the costs of my new cards I MAY peak my curiosity and play around with playing the market or just holding on to see if they go back up to $30, but my main goal with this was to let my WCG rigs pay for themselves and/or fund more/better crunchers.
My plan is also to sell every coin until i pay for my mining investment. After that i am not sure what i am going to do.
With recent break in at MtGox, i am not planning on holding bitcoins for too long. But on the plus side it will probably shift a good amount of the bitcoin traffic to TradeHill.
INFRNL
06-19-2011, 05:47 PM
what is the current rate for USD? looks like we hit bottom today:shrug: i only have approx 4 right now anyway. I would like to at least pay off the cards; then who knows. would like to help build more or pay utilities. guess we'll see how this all turns out.
I hope that the price will increase soon, i just got MSI R5870 Lightning... :hehe:
[XC] hipno650
06-20-2011, 08:04 AM
so far it is my plan to cash out pretty much everyweek. considering things could crash at almost any moment the longer you keep bitcoins as bitcoins the greater risk you run I guess. ATM though the market seems to be in some decent chaos. considering the difficulty increase and the hack at Mt.Gox it seems the market has flooded with sellers. prices SHOULD go back up however once things stabilize a bit. all that we need is for the amount of bitcoins being bought out ways the amount being mined.
I have no plans on keeping a large number of bitcoins for buying things using straight bitcoins however. I am not convinced of it as a technology or currency but I am more than happy to have people buy them off me :)
What are your plans now? The price plummeted down to ~€10 today and if this trend continues many people will drop mining. I bought 12BTC @ €12.3 and I'll not sell it anytime soon, but what about coins generated by me? Damn speculation.
I've found interesting thread on bitcoin forum:
http://forum.bitcoin.org/index.php?topic=7427.60
There is no fresh blood coming as the predicted difficulty decreased recently (I've seen 15.5%, now is less than 14%).
[XC] gomeler
07-05-2011, 03:42 PM
My cards paid themselves off two days ago. I'll now be hoarding and occasionally selling/buying if I see major dips/rises versus historic pasts. The current plummet in price makes me itch to buy up some BTC. If it approaches $10/btc I'll definitely sink a few hundred in for :banana::banana::banana::banana:s and giggles :D
KaptainBlaZzed
07-05-2011, 04:05 PM
i will be selling a few BTC here and there, but i am now going to save them.
i will probably sell enough to pay the electricity bill and save the rest.
I have not paid for my hardware yet, but that is ok. This is the first time my computer has made me money instead of costing me money.:D
INFRNL
07-05-2011, 08:40 PM
I should have sold the other day when it was above $17; will have to wait a bit longer
You should have started mining 6 months ago :D
Bobsama
07-06-2011, 05:37 AM
We all should have (started 6 months ago). Regardless, I think bitcoins are going to fail; the early-adopter-rewarded thing is definitely true. Hell, for :banana::banana::banana::banana:s and giggles, create a competing crypto-currency and let people join in and eventually market the currency itself. It's practically a ponzi scheme.
Vinas
07-26-2011, 11:35 AM
Well, they've paid off my 5870's and water blocks... At this rate I'll just keep mining and selling as soon as I accumulate about 5BTC. My mine rate is 0.75 per 24h. I don't think I really want to expand all that much more.
What are your plans after recent price increase? Any hopes? Will bitcoin conference change anything? Definitely will attract some attention:up:
GeorgeStorm
08-11-2011, 12:57 AM
I'm liking the increase, finally got myself a whole BTC :P
I'll probably wait for the moment, see what happens, will have to sell sooner rather than later though, so if it drops back down and stays there, i'll just sell for that, still better than nothing :)
Price may further increase soon: some hope and trust in Bitcoin will be restored after Mt.Gox's bailout of bitomat.pl:
https://www.mtgox.com/press_release_20110811.html
Shame that bitomat.pl didn't warn about migration and now ALL money and ALL BTC are frozen. No date of re-spawn of Polish Mt.Gox is given...
Duniek
08-13-2011, 02:42 AM
HOLD FOR AGES my 10 BTC
after 5 years price will increase about 10000% , I WILL BE A F*****G BILIONAIRE LOL
:rotf:
V2-V3
08-13-2011, 08:23 PM
I sold half so i could have cash on hand to buy if the market dips
INFRNL
09-03-2011, 06:01 AM
Whats everyone's current plan?
Ive been wanting to cash out, but not at current rates. I would like to see at least $15/coin before I cash out, but its not looking too good right now.
I may also get out too and sell off my 2x5830's. I do not seem to be producing enough to make it worth my while. I think I am only producing .3 coins a day which would probably not even pay to run the cards. This is based off of btguild.
I think I will just stick to WCG/gpugrid
I bought 20BTC @ 9.8$ and now waiting to have it back :/ not to mention that mt.gox bought world's 3rd exchange market (bitomat.pl) 2-3 weeks ago and without ANY warning they have frozen all money and all BTC on my bitomat's account. NOT COOL :mad:
Remaining 45BTC (my own work) have to waiting for price increase.
INFRNL
09-03-2011, 06:01 PM
thats a bummer. Wish we had a better idea of what might happen.
I really hope the price increases to a reasonable level
I've heard that there is a chance for price increase as soon as kids and students in US will be back in school and start buying drugs again ;) (no offense was meant)
Reflex1
09-08-2011, 12:26 AM
The price has only been dropping ever since I started mining. I sold my first 2 bitcoins for $30 each! ...now they are worth $6. In a few months they will be worth even less, it just isn't worth it anymore, for a bit of fun its cool but i don't think it even covers the electricity bill anymore :p
GeorgeStorm
09-08-2011, 09:04 AM
I'm not sure what I'm going to do once I get back to uni, whether I continue or not.
Has been going down and down, then it popped back up to 11, but since then it seems to have just dropped and dropped :/
If this trend continues I will have to power my 1.4Gh/s down :down:
p2501
09-09-2011, 03:48 AM
Doesn't sound too good:
http://blog.bitcoinwatch.com/
KaptainBlaZzed
09-09-2011, 08:27 AM
going to dump my coins and shut down the miners for a while and see what happens.
i will join back in if the difficulty goes down quite a bit.
[XC] gomeler
09-09-2011, 09:59 AM
Haven't really paid attention to BTC mining since ~early August. I had shut down all my boxes due to the summer heat and just recently brought them back online. Looks like the market is crashing pretty hard which means.. soon I'll be buying up a few hundred BTC as a long-term gamble. Have somewhere around 3.0 GH/s mining away to heat the house this winter with the side benefit of some modest BTC generation.
don_xvi
09-09-2011, 04:06 PM
Enjoying the quietness of my computer!
KaptainBlaZzed
09-09-2011, 06:45 PM
Enjoying the quietness of my computer!
lol, i was staring at my computer wondering if it was on or not. It is so quiet.
i am down to 700 mhashes for the time being.
I will continue mining until 100BTC in my wallet. And then will shut it down until price goes up again (if goes up...)
MadHacker
09-10-2011, 08:09 AM
I have 245 BTC mined already...
the way i loo at it.. the current price has to bearing on my mining or not...
price is only a factor when i decide to sell.
also as price drops... number of miners drop... difficulty will drop.
I may want to try speculation, at last. Not to bother about the price, but only how many BTC I currently have.
[XC] gomeler
09-16-2011, 04:18 PM
Sheesh, the price is going down down down. If I wasn't using these cards also to heat the house then I'd be out and liquidating the cards. Surprised the network throughput hasn't plummeted as surely not everyone is in the same boat as me.
MadHacker
09-16-2011, 04:41 PM
gomeler;4951386']Sheesh, the price is going down down down. If I wasn't using these cards also to heat the house then I'd be out and liquidating the cards. Surprised the network throughput hasn't plummeted as surely not everyone is in the same boat as me.
what is your cost for electricity?
i pay about $0.17 per KWh
although technically i pay $0.08 per KWh but after they add in the extra fees, it jumps up significantly.
[XC] gomeler
09-16-2011, 06:54 PM
what is your cost for electricity?
i pay about $0.17 per KWh
although technically i pay $0.08 per KWh but after they add in the extra fees, it jumps up significantly.
Don't pay for power, part of my lease.
If I wanted to buy a handful of bitcoins....what's the best way? I searched and found Mt. Gox and TradeHill. Have any of you actually bought some coins?
slaveondope
09-16-2011, 09:18 PM
If I wanted to buy a handful of bitcoins....what's the best way? I searched and found Mt. Gox and TradeHill. Have any of you actually bought some coins?
Setup a Dwolla account with your bank account (just like Paypal) https://www.dwolla.com/default.aspx then a Mt.Gox account. Send funds from bank->Dwolla->Mt.Gox then bid.
You likely can find someone here who may sell some to you via Paypal for more ease.
MadHacker
09-16-2011, 10:27 PM
gomeler;4951461']Don't pay for power, part of my lease.
can i send you my 7.2 TH/s
only pulls about 4000W steady.....
[XC] gomeler
09-17-2011, 10:24 AM
can i send you my 7.2 TH/s
only pulls about 4000W steady.....
If you don't mind the cards ending up on eBay :D I'm already tapped out on available power breakers otherwise I'd have expanded further.
MadHacker
09-17-2011, 12:28 PM
gomeler;4951955']If you don't mind the cards ending up on eBay :D I'm already tapped out on available power breakers otherwise I'd have expanded further.
before i put another breaker box in i had extention cables running all over my basement.
now i have room for 8 more breakers...
just not cost efficiant to buy more hardware at teh moment
can i send you my 7.2 TH/s
only pulls about 4000W steady.....
I pay <25 bucks for over 1000kwh :P
not to mention I have my dads depot with 30x 30 m of space and 6 meters tall roof :p
for myself i can no longer mine and make enough for electric let alone any profit. i have shut down my miners and selling out equipment its a loss to me at this point but i can i gave it a try. i have some bitcoins that will just be a memory of what fun it was while it was . if ever price does increase i will consider selling them but not at the current price its at
Jen
for myself i can no longer mine and make enough for electric let alone any profit. i have shut down my miners and selling out equipment its a loss to me at this point but i can i gave it a try. i have some bitcoins that will just be a memory of what fun it was while it was . if ever price does increase i will consider selling them but not at the current price its at
Jen
I feel same way it was fun and who knows the price might turn around. That's why I thought about buying some low and sitting on them.
I can't run my 5870 24/7 because it's my son's gaming pc, so it might be better for me to buy some.
MadHacker
09-18-2011, 03:59 PM
I'll mine all winter...
working on getting my 8 6970 video cards watercooled and blow the warm air into the cold air ducts...
I already have the waterblocks... bought them when the BitCoin was at $30 and was thinking of making a lot of money...
live and learn... still have fun doing this...
if this venture goes totoaly to waste... well we will have have nice video cards in our machines... 4way crosfire :)
KaptainBlaZzed
09-18-2011, 06:24 PM
i am going to keep mining for a while. I pay .097 per KHw and mining / electricity break even price is ~$2.75 per BTC.
I have changed my mining tactic from max overclock to low noise. To accomplish this i have reduced all my oveclocks and taken one card out of commission. The reduction in noise is worth the minimal loss in BTC. :)
i do now have a 5830 collecting dust, anybody interested in it PM me.
I pay 0.15 Euro or 0.21$ if you prefer. My miners are already down for few days. As for now I will not be selling my cards (2x5830 as I will keep 5870 lightning for CF) and will wait how the price will change.
I started mining Solicoins, but after few days the network was hacked and now it is disabled. It is suppose to be operational next week.
[XC] gomeler
10-11-2011, 03:08 PM
Not sure if a large BTC pool crashed out temporarily but the network size and throughput appears to have plummeted along with the price. Haven't really been paying attention to BTC for the last few weeks. Only happened to check on it over the weekend when I moved my rigs from the garage to the basement to heat the house due to temperatures plummeting. 3 GH/s are now heating the house to a comfortable ~75F :D
MadHacker
10-11-2011, 07:07 PM
network size is going down...
much less miners
this is from irc
[21:05] <gribble> Estimated percent change in difficulty this period | -11.4276071457 % based on data since last change | -22.8919499091 % based on data for last three days
so difficulty is going down by over 11%
another quote from another channel
[21:06] <+BlockAnnouncer> Current difficulty 1689334.4045971 Estimated difficulty 1496283.9054622 -11.43 % increase in 209 blocks 1 days 16 hours 26 minutes 40 seconds
so here is to hoping it gets to -15% :)
According to KaptainBlazZed calculator (http://98.200.247.249:81/btc_calc.php) it's going to be ~13%. Nevertheless, I do not mine anymore - when my 1.4GH/s was mining i was getting around 0.8 BTC/day. And now on Mtgox I get ~2 BTC/day...
ScottALot
10-13-2011, 12:49 PM
Whoa, I uninstalled Bitcoin after I heard it was starting to go to sh**. I never really did get it running, because I had a GTX 460 only, but if it's still actively-used, I'd love to get back into it.
MadHacker
10-13-2011, 04:00 PM
Whoa, I uninstalled Bitcoin after I heard it was starting to go to sh**. I never really did get it running, because I had a GTX 460 only, but if it's still actively-used, I'd love to get back into it.
well with current difficulty and cost of electricity, mining with a GTX460 isn't profitable.
then again playing computer games isn't either...
as long as its fun... go ahead
It got so quiet here... :rolleyes:
[XC] gomeler
10-26-2011, 06:34 PM
It got so quiet here... :rolleyes:
I've been eyeballing bitcoin the last few days. It suddenly dropped cold enough to snow out here so I promptly fired up all the GPUs to help with the heat. The price per BTC has plummeted so far that if I didn't use the GPUs also for heating I doubt I'd be running them. At least the difficulty is also dropping though. Soon those left mining will be rolling in piles of worthless bitcoins :D
KaptainBlaZzed
10-29-2011, 07:23 AM
Bitcoin showing some signs of life. ($3.50 per BTC) going to dump a few and get a card or two back up and running. the difficulty drop is projected at about 17% right now.
And I sold @ 2.85 :/ hope it will go down agaaaain.
KaptainBlaZzed
11-30-2011, 04:14 PM
back at $3 per BTC. :) Time to sell a few.
[XC] gomeler
11-30-2011, 04:37 PM
Ah, time to open the floodgates and dump some coins. I know I'll regret this when they're worth $10/coin or something in 6 months.
p2501
12-02-2011, 11:53 AM
What do you guys think, when buying coins on MTGox, is it advisable to keep them in my MTG wallet or is it better to put them offsite (paper wallet, whatnot)?!
slaveondope
12-02-2011, 12:15 PM
What do you guys think, when buying coins on MTGox, is it advisable to keep them in my MTG wallet or is it better to put them offsite (paper wallet, whatnot)?!
I'd recommend an offline wallet backup x2 using flash drives.
p2501
12-03-2011, 07:08 AM
Awesome, I'm shopping for some flash drives now.
Did anyone ever try this (https://www.bitaddress.org)? I like the idea of having a piece of paper (and some copies of it) with a list of keys where only you know to which one you sent some coins to. Offline and secure. :shrug:
KaptainBlaZzed
12-20-2011, 06:25 AM
BTC price is > $4, i am going to dump a few.:)
[XC] gomeler
12-23-2011, 01:09 PM
BTC price is > $4, i am going to dump a few.:)
Forgot to sell my stash of coins. Just saw the price is nearly at $4. I'm thinking the same thing on dumping some to recover some costs and possibly fund some more cards.
KaptainBlaZzed
12-31-2011, 07:34 AM
Bitcons have jumped in value, in the past couple of hours. They are now worth > $4.50.
You going to sell or hold on longer?
p2501
01-01-2012, 08:21 AM
I'm holding on, bought at 2.9 for $2600...
Let's see where this goes, as long as there's no additional hacking taking place at the exchanges I see no reason for another big drop. :shrug:
KaptainBlaZzed
01-01-2012, 12:27 PM
BTC over $5 USD :)
p2501
01-01-2012, 12:46 PM
Sustainable?
$5+ is a big step for sure.
KaptainBlaZzed
01-01-2012, 07:37 PM
probably going to sell a few and take some ca$h.
[XC] gomeler
01-04-2012, 10:26 AM
Price seems to be bouncing around a lot. I wonder if there is someone attempting to play the market with a huge wad of cash or if it is genuine growth.
KaptainBlaZzed
01-04-2012, 05:27 PM
Price has touched $6 per BTC, but has fallen a little since then.
Time to start those miners back up. :stick:
[XC] gomeler
01-04-2012, 06:52 PM
Yeah, now I'm really wondering what is spurring this on. Afraid it is just something temporary..
slaveondope
01-04-2012, 07:19 PM
http://www.spoilertv.com/2011/12/good-wife-episode-312-bitcoin-for.html
Anticipation
[XC] gomeler
01-05-2012, 04:24 PM
Cracked $7/BTC today. What in the hell. I'm firing up more cards tonight for :banana::banana::banana::banana:s 'n giggles.
[XC] gomeler
01-17-2012, 02:39 PM
Wow, the market appears to have crashed. So damn happy I cashed out at $7.10 instead of holding out for $8 or $9.
MadHacker
01-17-2012, 02:41 PM
i thik it will bounce back soon....
unless it it crashed do to another major scam.
slaveondope
01-17-2012, 03:07 PM
gomeler;5037194']Wow, the market appears to have crashed. So damn happy I cashed out at $7.10 instead of holding out for $8 or $9.
Yepp Bitcoin is ruined now sell me those 5970's you have, they stink at DX11 and you know it ;)
[XC] gomeler
01-17-2012, 03:22 PM
i thik it will bounce back soon....
unless it it crashed do to another major scam.
Yeah, I'm not worried. Given how I look at bitcoin as a longterm project I have no problems holding on to coins until it makes sense. Yesterday was my first sell since June 2011 *shrug*
Yepp Bitcoin is ruined now sell me those 5970's you have, they stink at DX11 and you know it ;)
Firesale!
[XC] gomeler
01-17-2012, 04:09 PM
Here's why the market crashed.
https://bitcointalk.org/index.php?topic=59980
slaveondope
01-17-2012, 04:34 PM
Watched ~15K get dropped in 4.5K dumps three times before that ~ 10am EST with little effect. That's when I bailed my trading fund.
Still holding long.
brinox
01-18-2012, 08:38 AM
and i thought the drop from ~$7 to 6.20 was a tank... :O I dropped 20btc at $6.34 just prior to that and only lost $13 of my projected turnover. oh well, it covered more than electricity and so far heating, which was the inherent reason for starting up again this winter!
p2501
01-20-2012, 01:18 PM
I don't think anything crashed here, for the amount traded the market has gotten quite resilient imo. I'd rather have some healthy corrections on the way up than some big drop after a bubble. I'm holding.