Quote from: JimboToronto on March 10, 2016, 07:11:40 PM

Quote from: JayJuanGee on March 10, 2016, 06:29:30 PM

I am not sure exactly my strategy if we were to have another 10x bubble in the near future because that kind of price movement, depending on whether it occurs quickly, would cause a lot of temptation to sell a lot of bitcoins; however, even with a 10x increase in the price, a person would not need to sell all of his/her bitcoins in order to take reasonable measures to protect the investment.

For example, if a person has about 100BTC, then he knows that every dollar BTC goes up, he has $100 profits. Therefore, he could sell some of those profits and maintain the principle... There are probably as many strategies as there are people; however, I am mostly similar to you in the sense that I am attempting to accumulate overall (even though at the moment, your average BTC buy price seems to be a whole hell-a-va lot lower than mine)

When I first bought bitcoins (starting at $68) I figured I'd sell enough to recoup my original investment when the price had tripled in value.

By the peak of the spring 2013 bubble, my average price had risen to about $120 and the market price only reached $266, a hundred bucks shy. When the "dead cat" bounce took the price back up to $155 after the crash down to $50, I sold some coins and was feeling fairly smug after making a 30% profit after a crash.

It didn't take long to realize I wanted to buy more bitcoins though. Luckily I was able to buy back in for $97. Now I realize that If I sold any coins, I'd only end up buying them back again, probably at a higher price.

I happened to get lucky with my timing then but I can't count on being that lucky again. I'm not a gambler by nature (in fact I'm adamantly anti-gambling for myself) so I'll stick to the slow and safe.

I'm not a gambler either. Tried trading, wasn't for me. It's too much exhausting work to try and stay on top of things (at least as much as is needed to be competitive in trading), so I am just an accumulator as well. My time is better spent earning money elsewhere so I can use that money to keep buying more coins. I buy them assuming I'm throwing the money away, so if they are worth $0 or $300,000 in a year I won't sell. My average buy in price is something like $200 for my 210 coins, so I feel lucky. Although my buddy Jake told me about bitcoin when they were worth like 20 bucks and I dismissed him... darn!