Bitcoin Forum

Where is your money going if you just heard about cryptocurrencies?
Or do you wait for next year?

LTC looks more stable than BTC at the moment but has a lot of potential.
BTC for a newbie looks like a cheap buy or not?

Given the high levels of sentiment and the extreme polarisation between bull/bear here at the moment, I might suggest this isn't the best place to ask at the moment. People are more interested in validating their vested positions rather than profiting at the moment.

If you need to ask, then you probably should back off for the moment and do more research.

Just don't keep FIAT money, it is worthless.

Depends on the currency...
And worthless is trashtalk.

The chances of losing 50% of your wealth is x-times bigger with coins than fiat.

Not on the long term.
All FIAT are going down to zero one day because they rely on the economy of state(s). Bitcoin is free from it.

Taking into account how BTC is dropping like a stone on MTgox , I would stay away from it right now.

That's exactly how to loose everything. If you buy when it is high and sell when it is low = you loose.

Ignore the FUD/trolls and buy when it is low. Ignore the FUD/trolls and sell when it is high.

Yeah, right. Because the internet will exist in a land without an economy. If i were to plan for that a situation i would rather invest in tabacco and alcohol.

I am buying LTC right now. LTC drops as BTC drops but I believe LTC is way to undervalued yet.

Also , you know that you should not try to catch a falling knife , do you?

Drug is definitely a safe bet, I agree.

Internet exist regardless of economy and will survive any government.

On the long term.. yes.
But that's 100+ years.

So he can wait a few weeks till the price consolidates. Buying now is just plain stupid.

My next buy in levels are all sub $600, I believe the price could find strong resistance at around these levels and bounce back, but I also believe that Bitcoin could go as low as $300 again.

If you are thinking about entering Alt-Coin markets right now, be advised that all the other coins are basically based around and can even only be traded for Bitcoin. If BTC goes down, they go down. on that note, I shall draw your attention to the following weekly chart for BTC on MtGox:

http://img89.imageshack.us/img89/4818/ucqv.png (http://imageshack.us/photo/my-images/89/ucqv.png/)

Now ignore the wild spike up in the main chart, and take note of the RSI indicator curve along the bottom. You will see from the April 2013 spike and crash, that the RSI held at 100 for a good period of time and as soon as it started to dive, Bitcoin entered a lengthy period of correction, sending the RSI to beneath 20, and the market didn't truly start to pick itself up until mid July, when the RSI started to curve northwards once again. As you will be able to see, we have had a period of the RSI being above 80, but is now starting to dive southwards again. This is just one indicator applied to one time frame and cannot be fully relied upon, but I would extol you NOT to buy Alt-coin at this point in the cycle.

long long term: buy BTC
long term: buy LTC and convert to BTC when you are happy with the profit
short term: watch and learn, nobody can tell you what to do

Edit: Above post is quite funny, analysis on bitcoin > do not buy alt coin! WTF?

Definitely wait.

How to spot FUD and troll :


Also Ignore button is glowing under his name.

Really funny that YOU should say that!

Best time to sell is now after the price has dropped.

Wait to buy in again after everyone else has bought.

Buy high, sell low.

For a start, he is talking about buying, secondly, Bitcoin is going much lower so now would indeed be a good sell point, considering you could then use the money to buy more Bitcoins for lower prices in future.

If you are advising anyone to buy right and hold right now, then you are either an idiot or just plain nasty.

And of course you would know it for sure because you are god or some other superficial being that knows how all random events turn out to be, and everybody else is an idiot for ignoring you? :)

I would not deny that bitcoin prices *could* go lower, but stating that they *would* is actually idiocy. For many reasons.

ah, Piramida old bean!

I remember you.

You called me a fool for selling at $1000 in a post where I also stated that I was buying back in between $600 - $700. Fortunately I chose not to listen to you and not to listen to 80% of the other nutters on this forum and listened instead to myself...and i done rather well.....all the BTC I bought at the lower prices have now been sold and I am waiting now for much lower prices before coming back in. This is just what I am doing and I have no guarantees that it will happen, but the charts are increasingly confirming my outlook by the day, yet everytime I login here I am readying endless cock n bull 'analysis' about how BTC is away to explode on the upside and then 'explanations' why this hasn't happened already.

Go and take a look at the chart I posted above here, check out the RSI graph on the bottom, and get back to me with why you think now is a good time to invest and hold BTC?

It's never a bad time to invest into and hold BTC. Now is even better than always, since the price is about 30% below it's peak. It may go down another 20%, or it may not, does not matter - if you don't have any position in BTC the best time to start buying is right now. No excuses. And don't bring that lucky speculation of yours into the light or I will surprise you with an order of magnitude luckier trades :) I don't even slightly care about your tiny gamble here. You just don't try and predict where bitcoin goes short-term, it is stupid guessing. And you have absolutely no idea, too. You can make money on the swings as most of us here do, but if you don't understand that longterm bitcoin goes only one way - up - then I am certain that you are going to be left off the train soon.

So yes, now is a good time to invest into and hold BTC. I've seen enough bears with charts who disappear once their "100% sure" direction never plays out. Given a 50% chance of your gamble being successful, you wont last much longer than 2 guesses. Three if you are super lucky :)

Dude, you where lucky that's it. No need to show off.

I was right when the price of Litecoin was going from 0.009 to 0.06 in few days recently but I don't consider myself a divine creature.

Call it luck if you want.

I am a johnny Come Lately to BTC speculation, I followed the advice of the nutters on this forum and bought high cos BTC was only ever going to go up, I got a very bad feeling in my guts about BTC, so I sold coins at a loss (not really as I been turning plenty profit on ride up before then), with a plan to buy back in lower. I posted my intentions on here, I can't expect anyone to take my 'feelings' as gospel, but it seems I can expect any mention of potential downside to be pilloried and ridiculed......and you were amongst those who did so.

Right now, and actually all the past week since I sold at about $880 (yeah, it did go up to $920 afterwards), both my gut and my reasoning is telling me to wait. I am seeing yet further slippage in price, totally consistent with the trend for the past few days, and indeed consistent with the charts clearly showing that we could very well be at the start of an extended bear trend, yet i am still reading the same old bollox on this forum from the majority of posters, offering 'reasons' for the 'unexpected' fall in price and advising anyone silly enough to listen to them to BUY BUY BUY!

Nope, I aint re-entering this market just yet thankyou very much.

Ok, see you when you buy at 1300 ;)

No you won't....

If this market takes out $950ish before my highest buy in targets are met, I am back in.

But i clearly don't think this will happen.

Apart from BTC and LTC, you can invest in very innovative cryptocurrency like Next or eMunie.

Next year both will do well, after the likely drop, but LTC will explode next year because low power scrypt mining equipment will hit for the first time mid-year. It's mostly not that you will save on electricity, it's that you can have MORE of them in your house that really matters.  ;-)