Bitcoin Forum

To recap recent events,
A few news stories brought attention to BTC,
The BTC price skyrocketed a few times to ~$1200USD,
The day traders thought BTC was stock and sold in panic.
No surprise to the BTC enthusiasts the price has rebounded to above $1,000USD per BTC.

Let us all take a moment to laugh out loud at these day traders.
BTC is not the stock market.
I suspect quite a few of these low intelligence day traders pulled out at or below the cost they paid to get in.
If you were one of the fool day traders who sold your BTC for less than what you paid,
please post here so we can publicly ridicule you.

EDIT: Let the laughter grow louder as the day traders get their funds/btc stuck on Mt.Gox!!!!!! ROFLAMO!!!!!!!

Agreed.   Stop trying to play the system with your weird charts, super cool phrases, hip and trendy prediction skills ...

In the end, the only winners will be those who bought and held long term.

I have yet to hear from a single person who tried playing the system and has come out on top.

Though im sure some exist.

"If you were one of the fool day traders who sold your BTC for less than what you paid,
please post here so we can publicly ridicule you."

how can you do that, when most of us bought @ 200  ::)

I'm curious about this profession; what does day trading provide to society?

Market liquidity.
Or so it is said... somehow I doubt your sincerity.

A Day trader wouldn't of sold it all off... if they sold at $1200 they bought it all back at 700... that's what day trading is, multiple trade's back and fourth in a day to make money off the coins...

Anyone who bought a bunch at $1200 and than sold it off at $700 in a panic is NOT a day trader, they would be a clueless noob..

Nothing, Day traders exist for their own greed, nothing more.
They waste oxygen.

So, The vast majority of the human population?

Based off my experiences with people in general, The vast majority are self-centered, poorly educated, and weak(spiritually, emotionally, and physically).

It keeps undesirable people glued to a computer so they are not out in the real world ripping people off.

Yes, and the Vast majority of the human population wouldnt be Day Traders lol.
Day trading take's commitment to do it. I'd bet some of those guys make a damn good living off of it.

Imagine buying a bunch today at ever 800 open, and than selling them all off now at $1000. If you had done this with a coin. you'd make $200.
Some of these guys do that with 100 coins. That's 20 grand profit in a day.
That's a day trader :)

I was referring to the "follow the pack" day traders who have not been doing it forever.
Those who just recently tried and failed to profit off BTC, they got scared when it went from $1200 and started dropping, They sold for less to avoid a complete loss.

Perhaps some Day Traders do well, but day trading is just like gambling, they could just as easily lose money.

I don't get the day-trader hate.

Should they not be allowed to buy and sell Bitcoin at any rate they choose?

Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money.

They buy and sell BTC to just buy and sell BTC.
They simply detract from the goal of BTC to be a currency.

They don't contribute to BTC in general.

yes, they should be allowed to lose their money on any zero sum game in the world just like we should feel free to criticize their absurd behavior.   Never met one that didn't just "bank" it all the time.....

Not true, I have mined/earned all my BTC.
I lose nothing if BTC plummets.
I use the electricity that comes free with my rent.

I hope BTC flourishes into a useable currency,
but if it doesn't I will not lose anything.

I don't really get it either. I guess they view "day traders" as part of the status quo financial elite, whereas the bitcoin true believers are sophisticated gentlemen who look down on the stock market and the dirty fiat that backs it. Something like that. Despite the fact that everyone is basically doing the same thing.

It's easy to laugh at "Leet TrayDURRz", but it's especially easy to laugh at the bears, because they take themselves so seriously and are so insufferably annoying.

Some even go so far as to shame themselves by putting pictures of bears in their avatars. It seems strange that in a forum dealing with an inherently bullish protocol like Bitcoin, avatars with bears outnumber avatars with bulls by a good margin.

Have they no shame?

There's something to be said of the opportunity cost. I'm not saying this will necessarily happen, but it's definitely a possibility and anyone who holds and holds without ever selling would in essence "lose" money in such a case. Not criticizing your strategy, but just saying it could happen and we're all essentially gambling on the future of bitcoin.

You're depressing, be positive! ;)

There is a reverse, Those who sell out before BTC reaches the height of it's maturity will not see the full fruit of their labor, due to their fear/greed.

Technically the one I have used to be classified as a bear.

About that BTC contribution, some of us have to convert to fiat from time to time. It's not like I can go to a shop and ask for qr.

I sort of day trade as a hobby, now mainly on BTC.sx when I think the market is heading up, or a quick sell and buy-back on BTCChina when I think the market is heading down. So far I haven't lost any BTC (although the vast majority of my profit has been eaten by BTC.SX's HUGE ASS FEES). Preferable to gambling on satoshidice, if you want a thrill, and more mentally engaging too :)

You can lose your money by buying and holding too.  This whole thing could crash down to nothing tomorrow, and people like you will be left holding the bag, while daytraders like me will have locked in profits multiple times before then.  

When the market is down, I make money, when the market is up, I make money...people who buy and hold have nothing but unrealized gains (no matter what the market is doing), which are worth exactly zero.

Of course. There should be no hate.

Humor on the other hand is a different story. Should people not be allowed to laugh at what they find hilarious?

What's the difference between that and the 99% rest of us buying and holding in the hopes of becoming rich?

The only people who are exonerated here are the tiny few who are actually buying and selling with BTC.

 ::)

Indeed, no mathematical forecasting method can possibly work.  The price of a bitcoin depends only on what the buyers and sellers think that it is worth, which in turn depends on what they think that other people may think it is worth in the future, and so on.  There is no data or thery that can bear on that, 


In the end the winners will be those who sold their bitcoins for more $$ than they paid for them (plus exchange fees, bank fees, etc.).  The losers will be those who did the opposite.

If you think you can time the market, it's better to trade to altcoins, rather than fiat. You'll have a better chance of success. Also, the market police agencies will leave you alone when their respective fiat currencies aren't being used.

Ultimately each person trying to make profit from trading btc has to invest fiat into it. And every penny invested in btc - raises btc value, enlarges it's market cap.

And the other thing - day trading helps balance price over different exchanges. I sometimes make an arbitrage trade, if it covers fees and +- risk.

Somewhere deep inside I may hate day traders, bots, and other stuff but that's really just envy talking. There's no 'fair' way to this system, it should and will balance itself in the end.

Funny thing - day traders invested in btc are drawn by it's volatility (also it's easy to get in, unlike buying real stocks). Take those swings away, price settles in one place,day traders become uninterested, cash out, which causes another drop and it's starts to swing again. Full circle.


Exactly.

like other professions and other markets it all depends on whether the entrepreneur profits. if he profits than it helps society if he takes loses than it harms society. If he profits than he reduces volatility, if he takes losses than he increases volatility. this is because if he profits than he succeeds in buying the tops, thus reducing the exaggeration of the top and if he sells the bottom than he reduces the exaggeration of the bottom.

if you have a mind for seeing abstract connections between seemingly disparate ideas, than in this video bob murphy explains the same idea in abstract except with a different example. see if you can make the connections ;D http://www.youtube.com/watch?v=VKk3vCbnigc

Inb4 people start using btc standard deviation as a leading indicator for price.

I like your style, sir.

Thank you! ;)

I have already stated that I do not buy BTC, I mine them... Learn to read please.
To the next point,
you line your pockets as it fills a need you have, I never developed that need.
You're need is a unwelcome intrusion upon the noble dream that BTC aims to achieve.

You make money?
Good for you, I don't think anybody here cares.
In all honesty, Your post screams, I'm a broke guy who dreams of money.
Lastly, I put you on ignore, You being a self described daytrader, you have nothing to say of merit as far as I'm concerned.

Don't feed his ego :) Seems It's quite corpulent already.

And? you still have to recover your mining costs (equipment, electricity, maintanance, etc)... and I'd wager if the price crashed to zero tomorrow, you'd be in the red. 




I think you do care, otherwise you wouldnt have made this thread.




I think that its hilarious that you make a thread to troll daytraders, but as soon as one calls you out, you take your ball and go home.

BTC is aimed to be a currency? USD, Pounds, etc are all day traded. Whats the problem here?

Let us take a moment to laugh at people who make good money on the BTC market in a way that permaholders find scary and confusing.

::)

[y]

Thanks.

I rarely get really pessimistic about btc's long term prospect, but the thought that a substantial portion of investors and (judging by the name of our forum) speculators have a kindergarten-level understanding of markets and market participants scares me.

Nice fallacy there. You believe you "lose nothing" because it is "house money", yet you accuse others of gambling? Quite amusing. :D

You should be happy not scared; if not for them, we would not get this nice wide swings. So I welcome everyone's desire to figure out how the world works the hard way, by own experience. If we only got professional market participants here, bitcoin would just be a boring stable slowly deflating currency, not the mad rollercoaster which throws money at anybody with half a brain as it is now.

This is funny stuff.
These day traders claim they are locking in their profits.
If you are day trading in U.S. dollars you are a fool.
Anybody who knows the U.S. financial situation,
knows our debt is a hill that keeps getting steeper,
eventually the U.S. will no longer be able to climb the hill of debt.

I don't envy the day traders with lots of U.S. dollars,
BTC day traders and stock market players, victims of the great depression 2.0.

I don't get the hate for day traders. It's not like they're selling crack in a tower block to kids.

I'd do it myself if I had enough Bitcoins and the time to watch the markets. If anything, I'm jealous of the ones who make money day trading... not resentful.

Fair play to them. It's the only guaranteed way to make money out of Bitcoin. Holding, which I'm doing, is certainly no guarantee of some big pay off at the end of this rollercoaster we're all on.

I don't really understand the aggressive nature of this thread  ???

You "investors" laughing at us day-traders is like a marathon runner laughing at a sprinter or a Motor-rally driver laughing at a F1 driver.

I am a buy-and-hold guy.  At least with Bitcoin.  I don't have the knowledge or experience to day-trade, and probably don't have the nerves for it either.  And I have a day job.  But I don't have any problem with day traders in general.

I do have problems with the day traders who like to post as though they are THE experts in timing the Bitcoin market, and then gloat when they make a successful day.

Of course, I also have problems with people who make threads like this one.

:D :D :D

Your posts gave me cancer, I'm donating -5BTC.

<slow clap>

I buy and hold and I advise clueless noobs to do the same.  But hey, if someone can make good money daytrading the swings, more power to you.  I would never make a thread just to troll people like that.  Good for them.

It probably has to do with all the posts calling buy-and-holders idiots while regaling us with tales of their perfect 20-20 hindsight...

I mean... I'll just take my 1,000% return over the same time that buy and hold has only returned a whopping -10% and sit over somewhere else. You go ahead and enjoy your thread.

Edit: for full disclosure there was a point where I was -25% and also one where I was +1,500%, so Im not pretending to have timed every trade perfectly.

Unlike passive investors, volatility in both directions is my favorite thing.

No because, early adopters who bought at sub $50 want to sit on their fkn arses and become millionaires on the back of a vast swathe of clueless masses who pour their money into Bitcoin at any price (as the Bitcoin nutters always advise). They therefore despise us Johnny come lately 'traders', who buy in at $1100, but look at charts and decide the wind has changed direction, then sell at loss in order to buy back in at much much lower prices.

@ 7priest7

Now that we have had another correction, and now that bounce has fallen clearly short of $980 target which would be required to make it 'not just a bounce', are you still laughing at us 'daytraders'.

And by the way, if you want to get all moral high horse, I was amongst the relative few actually using Bitcoin for real world economic transactions back in the day, providing Bitcoin with the spine that it needed so that fat idiotic parasite luckers like you, could by sheer coincidence make that small investment that has turned into a small fortune, without you having to lift a damn finger (or use a damn braincell)

Calm down, You have been ignored and reported.
Please attempt to expand your vocabulary beyond insults.
Try to articulate your ideas/criticisms as opposed to making insults not based off of reality.

lmao... didn't you start this thread with the intent of mocking day traders? That's not insulting?

Come on, if you're willing to dish it out you've got to be prepared to handle the blow back.

I wonder if marathon runners are that hostile.

Thanks, Ron Paul. My bills are payable in USD, thank you. :D

I could never be in the position I am without day trading. Not even close. Granted, day trading alt coins has been most profitable for me, but BTC/USD has been good to me as well. I'm sure I have gotten some great luck, too.

This is as someone who entered the market in April with almost nothing to put in -- paycheck to paycheck stylee. If I bought and held back then, I'd have >28x less value in my portfolio.

(Though I was around in 2012 for poker, but did not speculate, and never opted to hold more BTC than my bankroll required -- too fucking bad!)

What a little crybaby you are. Making an absolutely useless thread full of drivel on the speculation forums that attacks a segment of speculators for no good reason and then having the audacity to whine about being insulted without base.

The BTC game

How you play:  You're given 100 BTC and that's all you will ever be given

The goal: Have the most BTC possible at the end of a year

GO!

Some people would to invest in a "buy and hold" strategy.  Some would to buy and sell on trends trying to
increase their holdings.  Some would do this daily.  Some would do this daily with 4 to 1 leverage.  Some would do a little of everything.

We're all kind of playing this game now.  I'm glad to have a chance to play this game and glad to have options.  To me, the optimal strategy,
would to have all these abilities and be able to implement the right one at the right time.  I don't understand why someone would insult
someone else's strategy.  Instead I'd prefer to watch, listen and maybe even learn about it if I saw it was working for them.  

My girlfriend and I play Roulette at the casino and we write down the numbers and look at the patterns, always trying to find some trend.  Sometimes
we do and sometimes we don't.  It's fun and we know its just random.  But with bitcoin, it's not random.   There might be trends that you can pick up
on.  Real world events can have an affect on the price (maybe) and you can take advantage of that.  When China announced the ban on bitcoins for
Chinese companies, bitcoin prices dropped significantly soon after.  Was this causation or coincidence?  I think knowing the answer to that you can
definitely have an advantage.  It's interesting enough and definitely lucrative enough to investigate no?

Cheers!

Let's ridicule me for a moment.
I had 10 bitcoins I sold for $9200 when they were at $920 each.
Bitcoin dropped to $650 and I bought 14 bitcoins back and had some spare change.
Now those bitcoins are back up to $850 each, netting me approx. $11,900 - That's $2700 profit, correct? If it goes back up to $950, which it was at recently, that would mean a $4100 profit, right?

Poor lil' 'ol me. I'm such a fool.

Are you illiterate?
I never stated his comments bothered me,
they made me lol, they certainly didn't bother me.

I ignored him as he resorted to vulgarity,
vulgarity is the refuge of the poorly educated.
I have no desire to waste my time reading such dribble.

Calling us "low intelligence" and "fools" was vulgar, no? Perhaps just ridiculous...

Vulgarity is fucking nice once in a while.

I don't get the point of this thread. And others like it. The market needs traders, it also needs holders, and it needs people who fail at trying to make a profit. It's not either or, it wouldn't work without all the components.

I have a rule with my bitcoin - put only labour in, take only goods and services out.

This has been going very well! But I did download a chart app - watching the fluctuations has gotten me comfortable and accepting of them - I check the value of my bitcoins in fiat less and less.

HAHAHAHAHAHAHA!!! Are you serious?


Let us take a moment to laugh at 7priest7's shitty posting and inability to take criticism for his stupid thread.

LOL.. the op won't understand that dribble. His thoughts are much too refined and elegant for such things...

Moment taken...

Wow! Someone got some sand in her vagina
So much butt hurt in this thread, it's quite funny to me... A day trader!

If you knew anything about market forces, you wouldn't have bought the top, and you wouldn't be down 30% of your investment. That is your problem, not the "stupid traders". Quit stomping your feet like a child throwing a tantrum, and suck it up as lesson learned. Besides, according to the Bulls in this forum, it can only go up... ALWAYS! 
Soon you'll be rich, and everything will be righteous. ::)

The fact is; You are weak. I am strong. It takes losers like you, so winners like me continue winning. The sooner you get that through that narrow opening in your mind, the sooner you will be at peace in accepting this truth.

I'm choosing to use my first post to say just how pathetic OP is. And I'm a staunch buy/holder

It's always easy to call people clueless only after the great ups and downs are finished  :P

I bought at 120
sold at 230
bought at 180
sold at 380
bought at 300
sold at 800
bought at 500
sold at 1100
bought at 900
sold at 1000
bought at 580
sold at 1000

but ok go ahead and laugh at me

Day traders most certainly do help bitcoin in general by reducing volatility and aiding price discovery. They do this by trading arbitrage opportunities (arbitrage being any case in which a price is out of sync with its true value) and help drive the price closer to its correct value.

Funny thing is...


You're doing exactly the same thing. You're arbitraging your electricity costs (i.e. it's under its true value in your situation). This probably won't have any affect because the rent market is inefficient in this case, but if enough people did this, your rent would rise to its 'true' cost.

I don't want to trade, so I'll laugh at the traders.
I don't want to spend, so I'll laugh at the spenders.
I don't want to hoard, so I'll laugh at the hoarders.
I only believe in the purity of the idea of bitcoin, so I'll laugh at the rabble and their desire to have something as useless as money.

down with money!

Your post has so much win. You have essentially nailed the system we have.
Also I've made so many bad decisions with btc and the rollercoaster is still throwing money in my face.




Lol, my thoughts exactly.



Fun thread :) We need more pictures.

http://netraptor.org/blog/wp-content/uploads/2013/06/Troll-Dad-Forever-Win-res.jpg

I believe that bitcoin volatility is in part caused by a lack of market liquidity, although there are other factors causing it as well. Bitcoin suffers from low liquidity in exchange to either fiat or altcoins. Day traders, even the bad ones, subsidize the exchanges, thereby making it easier for others to trade coins quickly at a steady price.

No. The true winners will not be those who "sold" their bitcoins. The true winners will be the ones who get to spend them.

liar! that's your 2nd post already!

I'm sure Mt.Gox appreciates your contributions to their early retirement funds.

ewww I wasn't trading on GOX. I was trading on btce and bitfinex, with 0.2% and 0.1% fees respectively. Also, the trades in November were 2x leveraged ;)

Im laughing all the way to the bank =D

just cos Im a day trader, doesnt mean I trade every day ;)

bought at 100, sold at 750, bought at 500, sold at 650, price now = 620......

=D

Bitcoin thanks you for adding to its volatility, and helping ruin its reputation with investors who might take it to another level of worldwide adoption because they are concerned about its instability.

You're totally an asset to this community, and the long term success of Bitcoin.

(sarcasm).

But hey!  At least you made some quick bucks for yourself right?   (thereby proving everything written about day traders by everybody on Page 1 of this thread)

-B-

Why?

Some have been beaten up enough already, I'm sure.

The others have made money, so shouldn't they be laughing at us?

How about you sour lames relax and take a moment to take care of yourselves? Let others do what they want, but hey if you need a mob mentality to get you through your days then do your thing. See how no one cares about what you do? That's how it should be, take some time to think about that.

What world you would like to live in:
1) where you give/help something to someone but at the same time 10 other people are giving something to you when you need help or
2) where you care only for yourselve and 10 other people at the same time are stealing something from you or refusing to help you because they also care only for themselves?

You are proud from yourselves because some of you earned money trading bitcoin but the truth is you leeched that money from fellow bitcoiners who had less luck to predict the price. Almost whole world is against us because they don't like big changes and you want to fight also with each other...

Sour lames is awesome, quoting to remember.

I only "leeched" money against other players in the same game to make profit. We bet against eachother, it was fair, and they lost. They wanted to take my money too. "real" bitcoiners who are here to support bitcoin don't speculate and trade to make a profit. In fact, "supporting bitcoin" doesn't consist of any kind of investing or trading activity. "Investing" in bitcoin doesn't really help bitcoin because it doesn't increase the liquidity in the markets at all - it only raises the price while increasing scarcity which makes the currency just as hard to use by merchants because the same sale will cause the same percentage swing - everything cancels out. So what is someone who is really supporting bitcoin? Well they are people writing code and increasing the economy by getting more merchants involved, integrating bitcoin into platforms, and doing marketing.  I intend to do all of these things myself, and have always actively promoted bitcoin to my friends and family.

do you not realize that trillions of dollars worth of trades are made each and every day in the currency exchange markets of the world? the difference with bitcoin is, it's still small and there's no central bank to keep things in check. the value of the dollar is always changing relative to other currencies, you just don't notice it on a daily basis... that's why we have central banks...

so you can't promote the decentralization of bitcoin and at the same time complain about price volatility caused by currency trading. doing so indicates that you don't understand how bitcoin or currencies in general work and you're just in this to HODL and get rich quick.

Nothing wrong with that at all.
However, at least in stock trading, it was shown that 70-90% of day traders lose money and only 1-5% are predictably profitable.
In addition, multiple studies have shown that the more you trade, the faster you lose the money.
It has been shown that accounts that are involved in active day trading typically end up losing practically all capital in ~6mo.
I am buying in smaller chunks for the long term holding.
2014 is the year to make a lot of money (fiat), then buy BTC or mine it (whichever is your preference).
2015-2016 is when BTC will hit the full stride (unless another MtGox will mess it up).

Funny how day traders in this thread only mention the wins, not the losses. Or I suppose they expect us to believe they suffered no losses? maybe they have selective memories?

lol @ everyone flaming "greedy" traders who "only care about making money" when the only reason they're holding is to see their BTC value increase.

As I've asked you before, could you explain to us, how exactly providing liquidity to the market adds to volatility? Thought experiment: Remove traders from the equation. What do the order books look like then? And we're the ones adding to volatility?

As per usual, feel free to continue dishing out insults while refusing to acknowledge reality.  ;)

Apparently, if there were no traders (read no sellers), then the price could only go up and the hodlers will make more money! This money will be made at the expense of the newer people coming in and buying up the price. So how is that any different? HODLers are speculators that already made their speculative move. They bought with the expectation of higher prices in the future, though they wait a longer time frame. They're "yeartraders"! So now I ask, why do any of the non-selling HODLers even come into this sub-forum? They already did their speculating. There is nothing left for them in here.

Good point, perhaps some hodlers are closet traders. Maybe others have selective memories and quickly forget about those occasional sells. One thing is for sure, don't believe a word you read on this forum.

Why would there EVER be losses? Just wait it out....eventually the price will be either less or more and in the direction that favours your buy/sell. Only the panicking idiots lose $$.

"Let us take a moment to laugh at the BTC day traders"

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcRlMscoe4mAzY7VX9L6E_1CGHir-jWrzZG4BqImC9E53MwczZhy

The majority of BTC day traders are out to make a quick buck.
If they see BTC plummeting they frequently "cut their losses."

The ones that did well are likely to brag here.
Those who lost via mt.gox or didn't do well are unlikely to make any comment on this thread(most of them probably.) For every day trader that did well there were probably a few that lost that same money.

I'm sure many traders made money and many more traders lost money that is the usual if you ask me the hurd will run off the cliff and those that stopped and looked ahead lived to tell the tale.  8)

I only laugh when a "successful" trader doubles, triples, quadruples his money but looses all when exchange decides it's time to retire.

See the MtGox historical trading graphs for individual accounts. :)

This is why my strategies involve an allocation of cold storage, and large periodic cash withdrawals.

You can actually trade while having most of your coins in cold storage by shorting on bfx.

I laugh at the day traders who buy and sell stuff on Ebay.

Haha suckers, the price of your clock you sold me went up over the past 5 years! You're probably broke by now.

Skilled patient people make money from fools.
Then they spend it in ways that help "society".  :D

We have to laugh..... the only way forward  :P