Bitcoin Forum

One of my friends asked if this would be good time to buy really big stake. I said yes, but I would like to hear more opinions.

No one can tell you the answer. Your friend should do his/her research and make a decision. Come on, its called investing.

It also depends on whether your friend wants to invest or trade. Short term or long term. This all makes a difference.

My opinion - we go up short term. I believe we will see $150ish again at some point in the future. I think long term we go up much much higher.

Mid term its always good time to buy. Long term its always a bad time to buy.

Short term very risky. Personally I'd wait for a dip, but you can never be sure.

Long term always a bad time to buy?  Yeah, if and only if you believe Bitcoin will eventually die, which you do.

We're in a bull market right now. Chances are.. if you buy, and hold for a couple days.. you'll make a tiny bit of money.
 
However, what goes up, must come down.  So though the market is climbing steadily with such momentum, it could collapse at any moment, by any cause, triggering a massive panic sale.. which would make buying BTC even better.

As for when the bull market is over.... nobody knows, but the price will reach a breaking point where it will collapse.. and collapse huge.

So it's up to your friend to decide... is the risk worth the reward?

If yes, then invest.

Correct. Even if you believe, you can only believe like 10% at best. And I dont believe more than 0.1% that it will be significant in the 'far future'. And unlike a lot of other technologies that get replaced, it most likely wont have notable antique value. 

It's a very good time to buy imo, China is only just starting up so I think we have some ways to go before a major correction happens. Only problem is that it's pretty hard right now to buy a really large stack because there just aren't that many coins left on the books anymore. I would tell your friend to buy gradually over time and not go all in right away, although it's tempting when you see the price going up this fast.

Do you believe in Bitcoin's future? If yes, it's always a good incredibly fantastic time to take a large position. I mean, imagine if you had taken - by chance - a position in early April, the worst possible time. Six months later and you've already made a profit despite buying at the worst possible time (unless you caught the very tippy top at $266, but the odds of that are negligible, and even so we'll probably break through that in a week or two as well).

People were asking this at $18, debating the points with all sorts of valid reasons. Many talked themselves out of it. It's thanks to those who second-guessed themselves that others were able to get in on the ground floor. Lack of belief in Bitcoin's future has historically been VERY expensive.

And even short-term, look at it this way: there have been no major news stories on the price, and there won't be until we break the all-time high at $266. There've been no MSNBC or Xinhua interviews with mainstream finance people on the price, etc. Once we get that it'll be nearing time for a mid-term peak.

It's completely arrogant of you to suggest no one could believe more than 10% in the long term viability of bitcoin. You talk about dying technologies, but how many technological currencies and stores of wealth have existed. Technology has done nothing but grow expotentially in our lifetimes, influencing every aspect of our lives. Why would we assume it would not affect currency and stores of wealth, some of the most common things about of lives?

So shortsighted...

Mark my words. Bitcoin will take over 90% of the global currency market during your lifetime.

It is always a good idea to buy when the price is high.

But if it crashes your friend may want to sell at the lowest point.

Buy low, sell high, not the other way around

What if the price shoots up to $300 in the next couple of weeks, then corrects back to $200 and then shoots back up like a rocket all the way to $500? Buying now would be buying low then. We're in a very strong bull market right now, it could be really foolish to wait for a dip that will probably not come any time soon.

since we don´t know what will happen to the chart, just level out the risk a little bit:

tell him do devide the investment sum into 5 or 10 even slices. buy every week at the same time for the same amount. that will take out most of the volatility and he will not get cought at a top.

One good method is to simply put in X amount of money every week at the same day (say, every Friday), plugging away week after week.  Never put in money that you cannot afford to loose.

For example, budget $20 a week no matter what.  If the price of bitcoin goes up you get less bitcoin and if it goes down you get more.  It averages out.

Someone who started doing that a year ago would now have a good stash of bitcoins.  Well, start doing it now.

If you believe as many here do that the long-term trend is in the thousands of dollars per bitcoin, you will be very happy in the long term even though some days it appears you had big losses and some days you had big gains.

In reality, your bitcoins are just about worthless as bitcoins until you actually buy something with them.  In other words "don't count your chickens until they hatch".

Yes!!

I bought €600 of gold last week, but i wish i had of invested it in bitcoin now.. We still have quite a way to go up.. even before any mid-term crash.
You could easily double your money mid term. And much more long term.. is now a good time to buy?? Yes, in my opinion.
btw.. i bought in july.. my investment is up 78% since then. Buy and hold some and trade a small ammount if you want.. but i'm buy & medium-long term hold.

Bought my first couple at 142cad/btc. ( 3.1648 to be exact ). I'd say I wish I put in 5k last week :D

I also debated buying at the 1-5-25usd/btc I try to not let that cloud my current choices but it still stings.

I believe anything below $300 is a good buy the next months.

There's only been a few days where it's been a bad time to buy bitcoin. By next week there may have never been a bad time to purchase bitcoin.

A: Yes

The SR crash was the last great buying opportunity below $100, in my opinion.

Yeah, right..."one of my friends".
Is this the same friend who was FUCKING PANICKING a few months ago ? https://bitcointalk.org/index.php?topic=249261.0

Well, like you can see from those posts that you dug up that I already have massive stakes in Bitcoin. So basically your comment make absolute no sense whatsoever.

i strongly believe that less then 1k/1BTC is a good buy.....!

My opinion, all coins under 1000$ are cheap coins, and I buy as much as I can, each time I've money to spare.  Hope I'll get to 1000 BTC before it goes to 1000$ !

edit : typo

+1
that´s what i call a solid strategy.  ;)

Yes, it is a good time, a lot of people are buying so it is a good time.

Exactly like a lot of people were selling back at 90$, back then it was a good time to sell.

Buy buy buy

Sadly I don't have any money in the exchange when that happened  :-\

SR crash and the following up development clearly gave a strong signal of the long term success of bitcoin: It can not be confiscated by any entity. That is the reason it easily rallied since then

http://www.coindesk.com/silk-road-case-bitcoin-legal-precedent/

    “But what’s the message here? That bitcoin is a hugely valuable property, that it is hard for the government to rob, that it is the real thing and an authentic store of wealth, that it is a viable replacement for the dollar. These are the messages that are being sent by the government’s actions.

    The supreme irony: the Silk Road shutdown and looting might go down in history as the greatest boost to private currency ever. We could look back and see this as the event that finally unraveled the government’s money monopoly and the world’s problem with dollar imperialism.”