# Has this discussion encouraged holders of Bitcoin to sell?



## Duke of Marmalade (22 Mar 2018)

I note that _tecate _has 100% thrown in the towel, _elac _has done so 99% and even the B/S has got offside to the tune of 80%.  It is nice to think that these pages have convinced at least some of our fallen brethren of the error of their ways  On the other hand I don't think anyone who has dipped into the discussion will have been encouraged to take the plunge.


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## tecate (22 Mar 2018)

Duke of Marmalade said:


> I note that _tecate _has 100% thrown in the towel, _elac _has done so 99% and even the B/S has got offside to the tune of 80%.


Yeah, I got out with a 4000% return on investment over 5 years.  Admittedly, that was never my expectation - nor was rampant speculation part of what I bought into.  I was looking for further uptake of crypto for the greater good and a more controlled appreciation of that capital sum.  That's the progression that I'm still looking for.



Duke of Marmalade said:


> It is nice to think that these pages have convinced at least some of our fallen brethren of the error of their ways


Online discussions like this one are not about winning an argument for me - it's about learning from others - so no problem with you making that point.  I've no doubt that discussion here helps me to arrive at decisions - alongside discussions elsewhere.  Oftentimes, it's far healthier to discuss such a topic where there are a significant number of contributors of an opposing view as opposed to other spaces where group think can set in.
Having said all that, Tether was the gigantic elephant in the room that really got me to act.  The full implications of that I learnt of elsewhere.



Duke of Marmalade said:


> On the other hand I don't think anyone who has dipped into the discussion will have been encouraged to take the plunge.


It depends on what you mean by 'take the plunge'.  Whilst I got caught up in it, I never really got into this for the rabid speculation that followed.  BTC isn't really a classic investment per se - or if it is, then it's a high risk one.  
So if you mean people pouring significant $ into crypto, then I'd be happier if they didn't right now.  I'd far much prefer if people got to know a bit more about crypto and introduced themselves to it - rather than doing some sort of wild Betfair play.


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## elacsaplau (22 Mar 2018)

Yes - all those bitcoiners getting windy. Oh yee of little faith....

As alluded to elsewhere today, I owe a debt of gratitude to Brendan. Fair enough, honourable mention should indeed go to the Duke and others but, in truth, it's all really down to Brendan's steadfastness, utter conviction and candour. I don't think I really got what he was saying the first 348 times he said that bitcoin was a pile of _merde_ - but somehow, on that 349th iteration, I don't know exactly how or why - but something just clicked and I saw the light.

[I figure/hope Brendan will see the funny side of the above - I'm only messing around.]

On a serious note, back in early December, I gave a detailed explanation of my selling strategy - at which point, I had already sold c. 80% of my total bitcoin holding. Since then, I said sayonara to the remaining 20% - save for two coins.


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## Brendan Burgess (22 Mar 2018)

elacsaplau said:


> save for two coins.



For the 359th time, they are worth nothing. 

Why are you holding onto something which is worth nothing, which you could sell for $16,000? 

I do appreciate, that it might be for the craic if you are otherwise a multimillionaire.  


Brendan


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## elacsaplau (22 Mar 2018)

Brendan Burgess said:


> For the 359th time, they are worth nothing.
> 
> Why are you holding onto something which is worth nothing, which you could sell for $16,000?



Nice one, Brendan!!

I posted in another thread today that I kept two on the off chance of BTC attaining truly mega prices (relative to current prices). With just two coins, I can live with the downside and still satisfy those dark FOMO urges that show up every so often.


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## jman0war (22 Mar 2018)

Under no circumstances would i just sell off my bitcoin holdings and neither should you.
Brexit is looming and both the EU and US are neck deep in debt.

Should Brexit be successful i would expect that to hurt people's confidence in the Euro.
Not just the euro currency by also the EU project itself.
There'll be a lot of people looking to safe havens if that project begins to unwind.

Bitcoin is on the radar now.


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## TheBigShort (22 Mar 2018)

Duke of Marmalade said:


> It is nice to think that these pages have convinced at least some of our fallen brethren of the error of their ways



Ah Duke, while my faith has been rocked im not quite out of the cult yet! My €600 quid is indicative of my never-ending blinding faith of the great Satoshi.

Either that, or I reckoned a 100% return on a speculative ride was too stupid not to take up! 

My only bug-bear now is buying in again for something I previously bought for a lot less. So €100 amounts, incrementally, will be the order of the day.


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## TheBigShort (23 Mar 2018)

elacsaplau said:


> On a serious note, back in early December, I gave a detailed explanation of my selling strategy - at which point, I had already sold c. 80% of my total bitcoin holding. Since then, I said sayonara to the remaining 20% - save for two coins.



On a serious note, this makes you a millionaire,yes? Unless you were already beforehand? 
Im just summarizing here, if you sold off your last 20%, save last two bitcoin, then its logical to deduce that 2 bitcoin does not represent 20% of your bitcoin holding, otherwise the sentence doesnt make sense. Therefore we are in the realm of considering, in my opinion, the last two bitcoin represents, at a maximum 2% of your entire holding? In which case you therefore sold a minimum of 98 bitcoin over the period Dec to today. Meaning each bitcoin sold for €x,000's or even €xx,000's.
The worst price for a bitcoin over the period was circa €6,000 x 98(minimum) = €588,000 bare minimum. 
But considering the detail you have provided I would hazard a guess that it is a lot more?

And, Duke are watching, he is an economist!

Congrats.


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## Duke of Marmalade (23 Mar 2018)

jman0war said:


> Should Brexit be successful i would expect that to hurt people's confidence in the Euro.


Eh!?  Britain is not in the euro, never was.  "Successful" Brexit might restore some of the pummelling that the £ has suffered.  In any case Brexit is at least 3 years away and by then according to Mr Twitter the international community will be well on its way to ditching the $, €, £, Yen, Yuan, Rouble, Swiss Franc, Zimbabwean Dollar etc. etc. and replacing them with bitcoin.


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## Brendan Burgess (23 Mar 2018)

TheBigShort said:


> And, Duke are watching, he is an economist!



He is an economist - not a bookie.


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## Brendan Burgess (23 Mar 2018)

newtothis said:


> Yet again, my mind is well and truly boggled.





newtothis said:


> I'll ask again: what do you mean when you use the terms "value" and "worth"?



I think it would be unfair to take this thread off topic by answering it yet again.  Discussed in detail in this thread. 

*Bitcoin has subjective value - intrinsic value is irrelevant*


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## cremeegg (23 Mar 2018)

Of course the main takeaway from the bitcoin threads is that those of us who understand that bitcoin is worthless gained nothing by that understanding.

The gullible who bought into the fantasy of value conjured from thin air, have made hundreds of thousands of Euro. 

At least we can sleep happily with the satisfaction of our greater wisdom.

Well done tecate and elacsaplau, and any other AAM'ers who profited from Bitcoin. Next time you see an opportunity like this please let us know early.


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## Brendan Burgess (23 Mar 2018)

cremeegg said:


> Of course the main takeaway from the bitcoin threads is that those of us who understand that bitcoin is worthless gained nothing by that understanding.



Ahem. Duke and I spread bet on Bitcoin to fall. We have not made the millions that the others have made, but we can at least buy a few pints. 

And it's not limited to financial gain. I learnt a lot about the madness of crowds.  

Brendan


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## cremeegg (23 Mar 2018)

Brendan Burgess said:


> Duke and I spread bet on Bitcoin to fall.



I was glossing over what I am sure was a temporary fall from grace into the sordid world of gambling.


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## elacsaplau (23 Mar 2018)

Brendan Burgess said:


> I learnt a lot about the madness of crowds.



You must be a world class expert at this stage so - given your highly developed views in this regard from the get go! 

The Big Short - I shared (possibly over shared?) some details of my BTC holdings in yesterday's "bitcoin/twitter" thread.


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## TheBigShort (23 Mar 2018)

Brendan Burgess said:


> Ahem. Duke and I spread bet on Bitcoin to fall. We have not made the millions that the others have made, but we can at least buy a few pints.
> 
> And it's not limited to financial gain. I learnt a lot about the madness of crowds.
> 
> Brendan



So by this I assume you have cashed out? 
By my reckoning so, everyone poster on here who dabbled in bitcoin - one way or other - has made money.
EVERYONE IS A WINNER!!

Isnt bitcoin great?


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## elacsaplau (23 Mar 2018)

TheBigShort said:


> EVERYONE IS A WINNER!!



Like the gardaí to the media - it's the gift that just keeps giving....


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## tecate (24 Mar 2018)

cremeegg said:


> I was glossing over what I am sure was a temporary fall from grace into the sordid world of gambling.


It's a crying shame that the banks didn't step in and prevent BB from handing over money to Betfair - like they have with potential bitcoin purchasers


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## elacsaplau (27 Jun 2019)

Brendan Burgess said:


> For the 359th time, they are worth nothing........Why are you holding onto something which is worth nothing, which you could sell for $16,000?



Coz I can now sell for $27K, $26k, $25k, $24k, $23k…………..better post this quickly before a further revision is needed!  

Remember Brendan - _nobody knows nothin'!_


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## tallpaul (27 Jun 2019)

jman0war said:


> Not just the euro currency by also the EU project itself.
> There'll be a lot of people looking to safe havens if that project begins to unwind.
> 
> Bitcoin is on the radar now.


Are you implying that Bitcoin will be a 'safe haven'?? If so,  [ I politely disagree with you]


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## Gus1970 (27 Jun 2019)

Duke of Marmalade said:


> I note that _tecate _has 100% thrown in the towel, _elac _has done so 99% and even the B/S has got offside to the tune of 80%.  It is nice to think that these pages have convinced at least some of our fallen brethren of the error of their ways  On the other hand I don't think anyone who has dipped into the discussion will have been encouraged to take the plunge.


I wish i was young enough to have so much certainty


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## tecate (28 Jun 2019)

tallpaul said:


> Are you implying that Bitcoin will be a 'safe haven'?? If so,  [ I politely disagree with you]


Appreciate your point of view.  However, these two analysts came out the other day and said exactly that (that it is a safe haven).  

Jim Reid of Deutsche Bank
Kristina Hooper, Chief Global Market Strategist with Invesco


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