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/biz/ - Business & Finance

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4848130 No.4848130 [Reply] [Original]

I want to say thanks to all the /biz/ bros. We made some great money the past few months.

I just cashed out all my BTC for Fiat (go ahead and say ill rebuy at 20k, i wont)

The fact is that BTC is without a doubt in a speculative bubble and I can no longer live with the fear that is an insane flash crash that will lose me almost a hundred thousand dollars.

Call me a pussy or whatever, but 12,000$ of growth in 1 month is not fucking sustainable. And when it reverses, it's going to be ugly. Exchanges are going to crash. I don't want to be around for it.

I'm walking. Good luck to you all.

>> No.4848152

See you at 20k

>> No.4848158

Pussy. Have fun rebuying at 20k.

>> No.4848161

>>4848130

Exchamges not being able to deal with cashing out is what will end this

>> No.4848164

>>4848152
It's definitey possible you get there before crashing down hard. I'm just not taking the risk anymore.

>> No.4848170

>>4848130

Now buy Bitcoin Cash and 10x your 100k

>> No.4848183

>>4848130
ty bought 100k

>> No.4848189

see you at $20k

>> No.4848197

>>4848170

Never. I believe in the true bitcoin, but I know this growth doesn't make any sense. Blind euphoria is going to hurt many people.

>> No.4848201

>just bought 100k at 20k

>> No.4848202

>>4848130
see ya at 20k, fomo will eat at your heart for all the years to come

>> No.4848206

>>4848164
It's also possible that The next crash wont go back to your sell Price.

>> No.4848304

>>4848130

You sell and like a smart man you walk away, beginning a new life.

Except we both know that's not what happens. You're going to watch the price for the next few days with sweaty palms, then when btc breaks resistance youre gonna be choking back tears as you know its the wrong thing to do but you buy back in. Why? Because you're addicted to the adrenaline. See you at 15.5k.

>> No.4848319

>>4848202
It won't. I'm happy with my gains. And I don't plan to GAMBLE them on this ridiculously uncertain future.

>> No.4848328

>>4848319

Its a smart move dude well done

>> No.4848372

>>4848328
thanks. gl to you too my friend

>> No.4848433

>>4848319
I did the same as you; however, I regret it and bought back into btc. We are right - it is a bubble. I know it will crash eventually its just that I have not reached my target number, so I continue to stressfully gamble.

>> No.4848583

A crash is inevitable, the ROIs on bitcoin make the real estate bubble look like a joke. If you made the money you wanted, just walk away.

>> No.4848650

>>4848130
Smart move OP. I hope you enjoy your gains and trade wisely

>> No.4848728

Steam dropping Bitcoin because it just doesn't work is the beginning of the end. They just highlighted the biggest problem the Bitcoin blockchain currently has - it doesn't scale up well and transaction fees skyrocet when more users enter the ecosystem.
If Bitcoin cannot be used as a currency what actual value does it hold?

>> No.4848733

Op will never be a Chad.

>> No.4848802

>>4848728
Except we will have lightning network very soon

You idiots think btc tech is static for some reason

>> No.4849004

>>4848130
You Sir, seem like a smart person. I also cashed out, this is just too much madness right now. Maybe we'll look like fools in the future, but right now it feels like the most sensible choice.

>> No.4849288
File: 509 KB, 781x1024, 1507529896337.jpg [View same] [iqdb] [saucenao] [google]
4849288

On December 18th COMEX (CME) will launch their Bitcoin Futures. This may not go well, per Clif High. This may cause a brief drop or wave in Bitcoin price. This will be a good time to buy.

>> No.4849466

>>4849288

Fuck this photo is amazing

>> No.4849595

How do you cash out that much OP?

What exchange site?

Legitimetly curious

Do you just verify yourself on Kraken / Bitrex / Coinbase and then withdraw 100 thousand dollars to your bank account just like that?

How long did the verification process take, how did it work, how long did it take for your Money to be in your bank account

>> No.4849653

It is not sane to leave until you have enough money to retire, OP.

>> No.4849667

>>4849595
Yes. Why do nocoiners not understand this? 24hr vol of Bitcoin is 15 billion USD. Just shy of a million Bitcoin moved in the past 24 hours.

You should already be verified on your chosen exchange, and then you click sell... and magic.

If you're worth tens of millions it might be a case of contacting the exchange directly and working something out. I'm sure the UHNW individuals get special treatment, if they want it.

But yeah, direct to bank account via wire transfer, or w.e.

>> No.4849671

I know that feel OP.

It's affecting my sleep, the fear of an impending crash...

I really should set a stop loss.

>> No.4849806

I don't even really care desu. If it crashes I'll be bummed, but I didn't put money I NEEDED in there. If it all goes to 0 I'll feel bad then keep doing what I'm doing anyway.

>> No.4849833

>>4848802
Soon™. Stay tuned, next 18 months for sure this time!

>> No.4849889

>>4848733
OP just doomed himself to the virgin walk by walking from crypto. Sad

>> No.4849935

I'll have fun zipping buy you in my Lambo with my 10/10 Norwegian model gf while you ride a moped with your asian gf stuffed in the back.

>> No.4849947

You'll rebuy at 20k

>> No.4849961
File: 96 KB, 1562x836, lebubblez.png [View same] [iqdb] [saucenao] [google]
4849961

>>4848130
How do dummies like you make any money? A crash doesn't happen when people are constantly calling something a bubble and "waiting for a correction". Crashes happen when everyone is bullish you dumbshit. Also pic related you faggot.

>> No.4849990

>>4848130
>Call me a pussy or whatever, but 12,000$ of growth in 1 month is not fucking sustainable. And when it reverses, it's going to be ugly. Exchanges are going to crash. I don't want to be around for it.
>I'm walking. Good luck to you all.

Smart man. I sold mine this morning as well.

>> No.4850016

>>4849961
What is FUD?

>> No.4850019

i was pretty certain it was going to 20000 by JAN 1st and now its guaranteed

>> No.4850028

But, before you depart this board full of winners, I want you to take a good look at the poster on top of you, go on. Because sometime in the not-so-distant future, you’re pullin’ up to a red light in your beat-up old fucking Pinto, and that poster's gonna pull up right alongside you in a brand new Lambo, with their beautiful wife by his side, whose got big voluptuous tits. And who will you be next to? Some disgusting wilder beast roastie thot with three days of razor-stubble in a sleeveless moo-moo, crammed in next to you with a carload full of groceries from the fucking Price Club! That’s who you’re gonna be sitting next to.

>> No.4850050

I love it when retards say btc's growth is "not sustainable" or that it doesn't make any sense

>> No.4850079

>>4848130
this is called making it others would be wise to listen

godspeed anon

>> No.4850121

I just paid for weed with cash USD cash. I didnt want to turn loose the BTC. This shit is rough.

>> No.4850124

>>4849595
there are dark pools where you can do this

>> No.4850125

>>4849961
one of these is not like the others. can't even look at charts you retard? BTC still hasn't corrected

>> No.4850161

No shit it's going to crash but it will recover again. Bitcoin is both highly speculative and a really good long term investment.

>> No.4850166
File: 2.94 MB, 350x268, 1386382359223.gif [View same] [iqdb] [saucenao] [google]
4850166

>>4848130
Smart man, OP. I also cashed out recently for similar reasons. The volatility of this currency is killing it, the greedy are just too blind to see it. They're the ones that will be left holding the bags waiting for it go up again in value. They may try to cash out, but when they go the exchanges will conveniently go down for "maintenance" and never come back up.

>> No.4850171

>>4849935
>you ride a moped with your asian gf stuffed in the back.
I'd be ok with this as I have no GF now.

>> No.4850177
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4850177

>>4848130
hmmm

>> No.4850185

How did you cash out $100k

>> No.4850202

>>4848130
People have been saying this for years. Good luck reconciling with the fact that in 2020 everyone who was here now will be millionaires and you will be left super bummed you didn't stay.

>> No.4850233

>>4850028
Saved. Thanks.

>> No.4850264
File: 49 KB, 356x200, 1507841274653.gif [View same] [iqdb] [saucenao] [google]
4850264

>>4849961
>Amazon
Innovates.
>Netflix
Innovates.
>Bitcoin
A currency that can't even be used as a currency. Sure is innovative! The truth is Bitcoin is only going up in value because of hype and greed. Why do people buy bitcoin? Because it goes up in value. Why does Bitcoin go up in value? Because people keep buying Bitcoin!

>> No.4850316

>>4848130
>over 180k unconfirmed transactions

currency of the future ladies and gents

>> No.4850453

>>4849806
I'm in this boat. I have what is, to me, a significant amount of money in crypto, but it's really my only shot at ever owning property. If it disappeared I'd be really bummed, but I'd just keep wagecucking and tell myself that I took my shot.

>> No.4850508

>>4848197
>this growth doesn't make any sense.
get used to it.

>> No.4850536

>>4848170
My man

>> No.4850564

>>4850264
>implying bitcoin and the rise of blockchain solutions are not innovative.

>> No.4850572

>>4848170
It does have a spike in price every 3 months. Looks like btc is due a crash in about jan/feb, cash last had a spike in Nov and before that Aug... It is one of the alts ill be buying when bitcoin corrects to 9-10k in jan/feb for sure. No rush though. Probably XMR too.

>> No.4850577
File: 560 KB, 2856x1340, Screen Shot 2017-05-19 at 5.36.04 PM.png [View same] [iqdb] [saucenao] [google]
4850577

>>4848130

>> No.4850580

>>4850264
But you don't understand. It's a new paradigm. The more posts like
>>4849889
>>4849935
>>4849961
>>4850019
>>4850202
I read the more I think it was the right choice to cash out. Because good luck doing that when everybody tries to and the exchanges just shut down.

>> No.4850595

>>4850572
the only thing is that normies won't buy any altcoin that is not on coinbase.

>> No.4850658

Lightning network doesn't fix anything.
It's just multisignature addresses. if you open a "channel" with someone, you must lock up funds in those channel in an on-chain transaction. The maximum amount you can receive is limited by the amount of funds you lock up in channels.

So if you're amazon and want to receive millions a day.... guess what? You have to lock up millions. What if you don't have millions? you have to use on-chain transactions.

and you can't just lock it up in one channel even if it has guaranteed paths to the rest of the network.
You are limited to the bandwidth of whatever hops are along the way. so if a poor guy with 0.001 BTC is the only connection to amazon, you can't buy that 0.01 BTC product. Open a new channel (on the chain) and lock up your funds.


Here's the "solution to on-chain scaling":
>open channel by creating on-chain transaction
>update channel with new funds by creating on-chain transaction
>close channel by creating on-chain transaction

>> No.4850736

i have 10k on bittrex in tether i need to get to coinabase to cash out. scared to transfer with btc and eth is to slow and LTC price is lower on coinable, dang I'm stuck any ideas?

>> No.4850877

>>4850736
stop being scared

>> No.4850935

>>4848206
once you reach life altering money you start your view will change
that's how the rich get richer all the time

>> No.4850937

>>4850877
i need the 10k its all free money, i still have a few BTC in alts. just need to cash out because Btc will crash, need the 10k for my next investment

>> No.4850987

>>4848130
What’s a good exchange to cash out on ? (Other than coinbase please)

>> No.4850990

>>4848130
this shit is gonna crash. good move

>> No.4851095

>>4850658
Nice summary.

LN is the most outlandish scaling "solution" imaginable, and I think even most core supporters understand this, because you don't see them hyping it up as much as you'd expect.

If all of the starts aligned correctly LN might reduce chain congestion. But it's totally dependent on adoption, and it's going to require a massive amount of infrastructure that isn't there yet, and could be years off.

And the reality is, if BTC ever reaches that level of adoption, there will still probably be a (much) bigger demand for on chain transactions than there is currently, even with LN available.

>> No.4851162

>>4848130

Congrats on this, seriously.

>> No.4851758

>>4850577
holy shit /o4knZFX WAS RIGHT!!!

>> No.4852001

>>4848130
See you in /rgt/