Buy, Sell, or Hold. What is your game plan?

[KaptainBlaZzed]

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]

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]

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]

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]

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]

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]

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]

what is the current rate for USD? looks like we hit bottom today 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.

[ggdh]

I hope that the price will increase soon, i just got MSI R5870 Lightning...

[[XC] hipno650]

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

[ggdh]

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]

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 s and giggles

[KaptainBlaZzed]

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.

[INFRNL]

I should have sold the other day when it was above $17; will have to wait a bit longer

[ggdh]

You should have started mining 6 months ago

[Bobsama]

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 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]

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.

[ggdh]

What are your plans after recent price increase? Any hopes? Will bitcoin conference change anything? Definitely will attract some attention

[GeorgeStorm]

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

[ggdh]

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]

HOLD FOR AGES my 10 BTC

after 5 years price will increase about 10000% , I WILL BE A F*****G BILIONAIRE LOL

[V2-V3]

I sold half so i could have cash on hand to buy if the market dips

[INFRNL]

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

[ggdh]

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

Remaining 45BTC (my own work) have to waiting for price increase.

[INFRNL]

thats a bummer. Wish we had a better idea of what might happen.
I really hope the price increases to a reasonable level