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You're still way up on paper. The payday comes when you actually liquidate your position, and you get the funds out of the exchange. Lot's of people were way
by ckastner 9y ago
You're still way up on paper.
The payday comes when you actually liquidate your position, and you get the funds out of the exchange.
Lot's of people were way up on Mt. Gox.
- comstock 9y agoUltimately I feel like the payday comes when you’ve bought something you actually want. Prices of all things can go up and down. If you goal was to buy a house and house prices suddenly increase, even after you cashed out your bitcoin, you might still be disappointed.
- nihonde 9y agoYes, I assume the price drop is due to people selling off their positions, which is also known as “cashing out”. The “smart money” moves in at the bottom of the sell off, if you’re bullish on BTC.
- nihonde 9y agoOne day later, and it looks like I was right. The buyers have chosen a bottom and the prices are rising again. Lots of people cashed out yesterday.