Quote from: octaft on October 31, 2014, 07:43:39 PM

Quote from: BitChick on October 31, 2014, 07:36:10 PM

Quote from: octaft on October 31, 2014, 07:25:36 PM

Quote from: BitChick on October 31, 2014, 07:10:08 PM

Well, the good news is that even if we sell at $275, that is above our entry point. So the plan is sell only when totally necessary! Wink

The question is more about what is deemed "necessary." If we have to sell a substantial amount we could and will but we won't need to for several more months (could delay it even longer if we take advantage of more zero percent interest credit but that is a game that I really don't like playing too much.) I think part of me feels like it is a game of who can wait the longest. There are people trying to shake out the weak hands and I don't want to be the "weak hands" being shaken out! Hodl on! Cheesy

Sometimes I wonder if some of you even account for the possibility that the huge runups might be over.

It is about risk vs. reward. Sure, the "runups" might be over. In fact, Bitcoin could go to zero.

However, it could still be very early in it's growth and we could see $100,000 per coin or more.

The question then becomes is the risk worth the reward? I believe it is a resounding YES!

In a way, we all have the chance to become venture capitalists in Bitcoin with any small amount we are willing and able to throw in. Usually these kinds of investment opportunities are not available to the "little people" or people like me with very little money to throw in. By the time we get the chance to invest in the best companies, the VC's have already made millions and moved on to the next investment. These VC's are the risk takers. They throw money into companies that lose everything. However, for the few that make it their reward is beyond what we can imagine because most of us do not get those kinds of opportunities.

So that is why we are willing to be "all in" with what we have. For some of us, we had very little to begin with and if we end up back to where we started we can at least say we gave it a shot. That is a much better feeling than seeing the price rise to $1000, $5000, $10,000, or even $100,000 someday and then crying, "Why didn't I invest when it was $350!

When I say accounting for the possibility, I don't mean simply accepting that bitcoin could go to 0. I literally mean accounting: do you all have a financial plan so that you will be okay even if bitcoin does go to 0. Racking up huge amounts of debt that you won't be able to pay off if everything goes to hell is not really a great plan.

We will get a good little tax return next year that will pay most of the credit cards off.

The question is more about wants than needs I think. New carpet, new couch, a larger college fund for kids, better vacations,etc. But delayed gratification never really hurt anyone. As for college, I know many kids take out loans. We just want our kids not to have to deal with any college loans at all.

We are not going to lose the house or anything if that is what you are worried about. Wink