Bitcoin Forum

  I posted my son's opinion on bitcoin price movement a few weeks back. He told me not to expect any upward movement. His position remains "hold." He said today bitcoin price will be going down, and then up "to the stars."

Can he give us a timeframe?

If he said that in 2011 right after the bubble he'd have been spot on.  8) But without a time frame, it's like saying "price will go down, then up." Always correct.

Not bad.

Did you ask your dog?

I really doubt he would have been able to say that :)

He should put his money were his mouth is, a pity it's not on a tit.

Well then, he shouldn't be making predictions then, should he  :P

Yes, I let kids make my financial decisions cause they know the value of money.

The original question was "Is bitcoin price going up or down?" A: "Down. Up. To the stars." The rest I interpreted.
Should I buy? A: No.
Should I sell? A: No.
Should I hold? A: Yes. Hold.

   I am open to all opinions and information. I rate all comments according to credibility and average it into overall decision.

   I still trust my son's market analysis ability more than many members of this forum- no offense, we all have different talents.

Why hold but not buy?

I interpreted that as meaning we have not yet hit the bottom.

god grow up

why not sell if we havent hit the bottom yet

  Because then I would be propping up overvalued fiat and financing neo-colonialist racist regimes and their absurd wealth squelching borders. How's that for you?

Good enough for me. It is for this reason that I didn't sell as much as any rational investor would have. Still holding enough BTC to make me uncomfortable, but holding enough USD to make me mad profitz when we do hit bottom and start rising again... which may end up being sooner than it took last time around, if cold hard fundamentals are any indication.

You are just justifying your belief in your son's prediction. He either had to say sell or buy and hold. Not hold alone.
You don't care about financing racist regimes or any of that shit, you need profit just like anyone else.

  I refuse to speculate or to gamble because there has to be a loser for me to win at gambling... since I can't guarantee that the loser is going to deserve it (in fact usually the little guy is the loser) I just try to make my money in more honest ways, like buying more bitcoin and waiting...

  Yeah, and if wealth, goods, and services are allowed to flow freely without countries trying to enforce tarriffs and all the red tape associated with global business, trade volume and therefore wealth will go up so much that we will all be making a lot more money. Check out http://en.wikipedia.org/wiki/Comparative_advantage

   Fighting greedy and corrupt regimes does increase my profit- long term.

  Selling to buy back lower and waiting to buy are not the same thing- one is a win-win, the other is not. I am only interested in win-win.  transactions.

It also possible you get sold and never get it back....You screaming to the screen ask why why why...As I can tell there are no reason to come further significant downtrend, this is the bottom....Monitoring carefully, put attention on it , anything upward trends buy buy buy...Do not missing the future lottery...

He'd rather ask his 2 years old son than putting attention to it. I mean why would anyone put attention to it when they can ask 2 year old.

Is somebody having a bad day?

You really think his 2 years son can gives a respond about it to him? what a genies....

hmm?

Speculation thread of the year?

Great prediction..accurately and full of sense...Don't you agree?

TIL 2 year old babies are genies

Lol notice he is younger than Bitcoin itself.

Flushing your toilet pollutes our water in some insignificant way, and surely several orders of magnitude more significantly than selling your few BTC will to "prop up fiat".  Will you also choose to compost your stuff in the backyard instead?  You know, for the good of humanity and such noble objectives worthy of pursuing in detriment of your time and resources?

you should set him up on the trollbox over at btc-e. he makes a lot more sense than any of those jokers.

If this is true that you get your prediction from your two year old son, then it's truly awesome in every sense. You should post a video of your son giving predictions, this is comedic to watch.

   Every little bit makes a difference. For aesthetic and practical reasons I do find traditional toilets to be better. Gardening is not an efficient use of time by the obvious measures, but you can save on a gym membership by doing it, and I happen to believe that the irradiation of industrially produced vegetables eliminates a lot of bacteria that are beneficial to our immune and digestive systems. I don't have time to garden right now anyway... but in Germany there is centralized compost centers, so I do compost.

    The only thing keeping fiat going is hundreds of millions of people who believe in it and use it. This is understandable since for a long time there was no real alternative. Now there is.

     You can try and deride me for having objectives other than personal profit all you want- my motives are still the same as yours, but I am looking at the long term. What is good for one is good for many. Maybe I am one of a few now but I know there are more like me out there. The more people we have who believe in bitcoin and use it, the more money we are all going to make. The more people we have  trying to make a grand here and a grand there the longer it's going to take for bitcoin to take off.

    What is good for bitcoin is good for all bitcoin owners. If I need to sell bitcoin to buy stuff only sold with fiat I will, but I won't hold any more fiat than I have to and I won't contribute to volatility. If the bitcoin community works in concert we have the potential to make this more profitable than all the profits of all the day traders on wall street for the last 20 years.

  

This what I am considering to do , if people interest in make short run profit ,please go to PLUS 500 or you can go to BITFUNDER, OR BTCT... there are perfect place for you to creating volatility and get profit on it.

is he a retard?

This is pretty awesome.

I'm sure his prediction will be as good as any other analyst.

Can you thank him for the tip for me :)

We should ask younger babies.

Let's try getting day trading advice from an ultrasound next time.

My crystal ball's most recent projections.... :D

My four year old loves to try to help.
Last night a high-volume sell sounded from Clark Moody's site at bedtime.
I hopped out to check price (I was in a trade). She hopped out of bed and followed me.
She saw the red bars and said "The red means bitcoin is going down and that is what you want for them to go down."

Rather than explain that only held true while I had a bearish sentiment with lower bids...I figured I wouldn't press my luck.

Another year, she'll be doing my trading for me :-P

Now you're being silly. 4 is well past prime for trading insight.

OP's son is giving the sanest advice we're seeing on this forum.

Re: Why not sell into downtrend:

Whether to sell or hold in a downtrend that is expected to continue with a high probability is a portfolio management question and can't be answered just by looking at the market. It's all about risk versus reward. I'm not selling at this point (I sold way higher) since I am not at all sure that it's worth the risk. I would sell, on the other hand, if I considered myself overinvested in BTC and wanted to diversify my portfolio.

Of course, if you're a day trader things are different and you expect to lose on some days and win on some. I'm fearful of day trading in this market, though, at least with non-trivial amounts of money. All of the exchanges are a bit shady and I don't trust the trade engines very much.

I did deride your proposals, crafting a bad joke along the way, and I'm sorry for that.  The ugly dip brought forward my less-than-polite side, I'm working on this personally.

I didn't know how much bitcoin you held, and my view was that a small sell transaction wouldn't change the general trajectory of the selloff, and hurt you much more than it helped.  In full disclosure, I bought BTC at $93, $76, and $67 USD/BTC.  Bitcoiners have different levels of investment in bitcoin, but we each have a voice, and that's the equalizer.  I have a (maybe misguided) view that bitcoin holdings are inversely related to propensity to sell on a selloff slope.

From my point of view, the best way to push the bitcoin economy forward is to patronize legal businesses that accept bitcoin, and if you have a say in it, to support those businesses you can influence into accepting Bitcoin as a method of payment.  This will go a much longer way to stabilize markets and make the irrational selloffs have less of an effect on overall pricing.

If you give me your BTC address, I'll send you a guilt-relief transfer, it'll make both of us feel better.

   No need, don't worry about it. I was also somewhat terse, and compared to some of the abuse I've seen being slung around on this forum I think it's all been very civil here. I'm having enough trouble trying to figure out what to do with the bitcoins I've got. Sounds like you bought on a good trajectory.

Invest them, to get even more bitcoins?

And then?
You need to invest USD to get more usd by speculating with bitcoins.
Not to get more btc :(

  I don't get it either. I am open to suggestions as to how to invest btc to get more btc.

Sell high and rebuy low, e.g "short" it. Basically.

Edit: I'm probably misreading this, excuse me if I sound patrionising.

No thanks... I'm personally only interested in win-wins.

Hold it with you ,if you really want to get return ,you can invest your BTC on its stock market.  BTCT.CO and BITFUNDER.com
You can always create win-wins if you doing this way .
In facts ,I am hold my coins as well, I do not want create volatility and thus stop people to adopting it.
 

Sometimes writing PUT options can be seen as a win-win situation.

i.e. if the option wouldn't be redeemed, I would have gotten the premium in exchange of locking my money, while if it got redeemed, I basically would have bought cheap shares at a price slightly higher than the market (which is obviously worse than buying it at the market price, but if you made some figures you might decide it didn't matter really).