Bitcoin Forum

 I have invested 50$ to check if I could intraday and make some returns , just to try if its easy to do or not. It was easy thats for sure but the dropped to 6xx$ killed a little of my coins. About 10$ worth. Thank god it was just 50$ .

 Now I am thinking about investing more since its low and I want to ask , do you guys think these areas are the lowest bitcoin would get in short term , or is it sinking like a ship from now on? Would it be a good idea to invest in at 650ish$?

I honestly believe you should stay away from trading Bitcoins for paper profit, I don't know why so many people are doing it, the hyperinflation is going to mess with everything, you will make money, but that money is getting constantly devalued. I think the price will continue to go up but it won't be because Bitcoins are valuable but because the dollar and paper money is worthless and Bitcoin is simply reflecting that in the price, I suppose it's fine if you want to put the money in to have some coins but I'd be really against actively trading it for paper.

 To be perfectly honest with you , I am not trading my coins for cash , I am constantly trading so that in the end I end up with more coins. My aim is to have a lot of coins not a lot of cash.

Oh well in that case knock yourself out, just giving everyone a fair warning :D there are some out there who genuinely believe the dollar is an ultimate store of value you see and that America as it is now will never collapse I usually end up arguing with them, just be careful to never panic sell/buy and you should be good.

I personally avoid the whole clusterfuck because I don't like strangers easily having a record of my I.D and address unless it's totally necessary, I'd rather trade altcoins and buy Gold with my profits.

$650 looks like it has had good support the last couple of panic / corrections / crashes.  i would say $600-$700 would be a good entry point and the charts seem to agree. i would be really surprised to see sub $600 on gox.  seems like a pattern forming here over the last couple weeks. expect more propaganda / news out of China this friday causing another panic selloff. breaking $900 or $1000 might be something we dont see for a while

Sounds like you have a good idea of how to invest.

Buy low, sell high.

I've been reading babypips website.

There's no wrong spot to buy in unless you are an absolute idiot.

This is the FLOOR, there are a lot of bubbles still, but it is only going up. Long picture.

I was able to make enough to now pay the bills by only a few hours twice a day looking at charts. This is after being coached on forex and market trends by my bf who's dad was a financial trader.


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6 months:
1$ USD -> .009 BTC -> LTC -> NVC -> USD -> LTC/BTC -> CRYPTSY/CEX/COINBASE -> 10GHs + 50LTC + 1BTC + (0.5 btc in 10 alts) + (3.2GHs, RPi Powered Block Erupter Rig).
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Random Notes that you might find interesting:

"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results." - Jordan

Each trader should know when to trade and when NOT to trade.
1. Simplicity.
2. Backtest.
3. Learn how your algorithms works
4. Do not trade more than you can afford to lose.

REMEMBER:
Make pips
Keep pips
Repeat


Worst Times to Trade:

Sundays – everyone is sleeping or enjoying their weekend!
Fridays – liquidity dies down during the latter part of the U.S. session.
Holidays – everybody is taking a break.
Major news events – you don’t want to get whipsawed!
During American Idol, the NBA Finals, or the Superbowl.

much satoshi
very panic
many spreads

Vagina.

Best time to buy is after a 30% to 40% sell off i.e. now :) cheap coins baby.

If we took a look at oil, precious metals, other commodities, we could have come to a conclusion that dollar is actually appreciating, i.e. increasing its purchasing power, since those things are well below their highs in dollar price terms. Some people say that it is deflation that we should be afraid of, not inflation. Maybe they have a point after all?

You might come to that conclusion, but I don't because here's the thing, it's not Bitcoin that's being constantly printed at massive amounts, that's why it's the dollar losing value, it's amazing how desperately people try to overcomplicate the issue. There is also proof in this because when you look at the price of Bitcoin and precious metals everything is actually pretty damn stable, it's only when you go into paper money that it all becomes crazy and 'volatile' your again making the mistake of thinking that the dollar is actually worth something because governments say so.

Edit: And sorry JarvisTechnology, you may have already realised glancing around beforehand but this forum is pretty much a battleground between government loyalists/neo-keynesians vs everyone else almost all economics and political threads devolve into this lol :D

I doubt that point and rather skeptical about it (mildly speaking). You can denominate price of oil in gold ounces, and it is very likely that you will get even higher volatility. On the contrary, if you look at US dollar Index which is a measure of the value of the US dollar relative to a basket of foreign currencies (see Wikipedia if you are curious), it is as stable as a three legged table...

My advice:
Buy your coins soon... The  best time is simply an educated guess, but the price will (highly probable) go up at some point.
Put 50% (or some percent) of your coins in a paper wallet/cold storage and trade with the rest.
Trade without emotion, make few, but deliberate and calculated trades. Have a plan and don't get played (too much) by the bigger fish .

Its pretty simple. Buy at $700 and not at $1200 i.e. buy now. Its bargain time. And if you bought at $1200, hold tight. its painful for sure, but we'll be back at those levels by Feb at the latest.

Coins are on sale from my perspective

Bitcoin has not been hacked

Current inflation rate is stable (at the ever decreasing rate of creation)

Bitcoin protocol remains robust

Technology challenges appear to have viable solutions

Ecosystem continues to grow with new developers, exchanges, miners, shop owners, investors, and media pundits increasing in numbers

Difficulty keeps growing

Passionate Bitlievers remain focused

sounds legit.

That's how I think about it. What are the fundamentals from which bitcoin derives it's value? Have any of those things changed?

Agree with all of those. But would just add "normal people round the world need to use bitcoins to buy stuff" for it to really be valuable. Not sure there is much evidence to support this yet. Hopefully in 2014 when bitcoin ATMs etc spread globally (except countries that ban them)

Yes, that continues to lag other uses of bitcoin. For whatever reason, the market loves speculating with it more than shopping. Maybe the next phase will be speculating then cashing out by purchasing things?

"Normal" people I know just say "its so darned hard to get bitcoins". Which is so true. That's why I'm hopeful bitcoin ATM machines will really spur usage. "normal" people are also much more likely to spend bitcoins rather than hoard / speculate.

Like if you could just swap back and forth between currencies at the mall. That would be great. You also might be able to create an bitcoin ATM economy with a captive audience. Like say an amusement park, or a resort. At the entrance/exit, patrons could adjust their holding as they like.

Only word I would change in the above is in bold.   I think want would be sufficient as an improvement in our growth.   We have to drive desire.   I find that I want/desire to spend more bitcoins when it is growing than when it is shrinking.   This may not be the best behavior but it seems to be mine.   I wonder what else might fuel desire to spend?  Early on the Internet it was Pron.

Agreed, want is sufficient. But people need bitcoins before they can spend them. Most people can be bothered to jump through hoops buying bitcoins on exchanges. Stick bitcoin ATMs in supermarkets and real-world usage would take off immediately.

I currently have an order set at 430 in case it dips to this level suddenly.  I want to accumulate coins not USD.

I am reassessing my buy back price on a day to day basis.

That's a big dip, but you never know right

It's on a short term downward trend unless some significant positive development catalyzes another surge