Bitcoin Forum

Pulled all my alt-coin positions out and made about 50% profit gambling there over the last couple of weeks.

I feel a weakness throughout the market and think it will get worse. I think we will be heading into the 600's soon and then slowly into the 500's. With no end in sight really.

Anyone else feel the same?

UPDATE IS IN RED BELOW. updated for the people saying I am always wrong.

I made a bad call this time about bitcoin, because the alt-coin market was going to crap, and I figured the bitcoin market was also. Just read my original post, I mentioned cashing out of the alt-coin market. I never traded bitcoins, only bought them to invest in alt-coins, so I never watched the bitcoin market.

I was right about the alt-coin market at the time, and cashed out before mostly everything fell. I cashed out on Nxtcoin at the peak of .00013 making over 20x my original investment at .00000500.
I got scammed and rebought in at .00009 before the source code release when the NXT cartel decided to peg the price at .00009 forcing me to buy in high. Then I sold out at .00007 and warned everybody at .00007 that I am cashing out at that point and why. Just an hour after I warned people on the forum the price dropped from .00007 to .00005. I got scammed here due to blatant price manipulation. But I still profited from my 20x rise.


However, the alt-coin market was failing because they have to share all the money being invested in them. Most of the crappy ones will fall, and only few will survive and it will only get worse.

Trust me, I am warning people away like crazy in the alt-coin community about the inevitable price collapses of many of the crap-cions, as the market is so tiny and they have to continually share any growth with all the others and all the new temporary hot ones coming out. Plus I try and let people know just how high the growth rate is on many of them which will inevitably make them fail in the tiny market.
 Trust me, many people don't like me over there, just like most don't like me here.  


There was a time you could have profited with alt-coins but you have to play it very smart. I never invested in bitcoins directly, I still have about 7 bitcoins from selling alt-coins, I sold very little of them as I basically decided to sell if they went under $675 and if it didn't just ride the wave up.

However, I did make a bad call here thinking the bitcoin market was tied with the alt-coin market, which it really isn't. Weakness over there does not mean bitcoin weakness. My mistake. I really should have made the title, "I'm cashing out my alt-coins".

Actually, the reason that bitcoin may have rose was because the alt-coin market is failing and people are putting their money back into bitcoins now. It has actually made it stronger! Which I failed to see.  

Just read some of my posts, I warned people in the Emark to cash out at .0003, and gave them good reason to. I already cashed out at .0004 after buying in at .0001. They gave me the same non-sense you guys give me that I don't know what I'm talking about. The Emark went down to .0002 and will go back to .0001 for sure.
https://bitcointalk.org/index.php?topic=310939.msg4294369#msg4294369

Look at me warn people from earth coin, only to have it fall over 25% from the warning.
https://bitcointalk.org/index.php?topic=399855.msg4331360#msg4331360


Just before saying I was "cashing out", I told people on here that the bitcoin price was going to $1000, as it did.
https://bitcointalk.org/index.php?topic=378259.msg4054436#msg4054436
https://bitcointalk.org/index.php?topic=385523.msg4148790#msg4148790

So you guys may say I am always wrong, with a few understandable misjudgments, I am usually right. Yes I was stupid not buying bicoins at $2.00, but I still told everyone it was way overvalued from $30 to $2.00. Does that really make me always wrong because I didn't buy in at that time.

So in a way I was right again, cashing out of alt-coins before the inevitable collapse. Just shouldn't have posted here in the topic that I'm cashing out my bitcoins.

I can't stop laughing every single time you make one of those threads. It's just that it has been 2 1/2 years now, and things never change. ;D

Seems like the OP needs to feel accepted in his forecasts.

I accept you.  :-*

I'm just losing interest in this whole crypto currency thing. It was fun in 2011 after it peaked, fun in 2013 after it peaked.

However, I just lose interest as I find it unproductive to speculate.

Will put my stop-loss in at around $645. If it hits that I'm out, if it goes higher than I'll ride it higher.

No, papa bear. Buying. Just waiting for the banks to open so the transfer can go through. Bitcoin doesn't take days off, another reason to ditch the banks.

How many times can someone cash out ffs?  Ed, nothing is certain with any investment.  If you can't accept that, you should cash out (for good), delete your account here, and stare at your bank account balance.  Fortune favors the brave, which you obviously are not.

Losing interest yet you are still here?

Suggestion: Go away?  :P

Wow where is all this hate coming from  ???.

This is speculation right or is it not? I am stating my position that I am cashing out.

Why can't you stop derailing my posts and discuss your position intelligently?

Just maybe your intuition is telling you the same and you don't want to admit it or hope to not believe it, so you attack me?

Who let the bear out?

http://4.bp.blogspot.com/-UG3Pt2QG7hY/TeTPuz0uytI/AAAAAAAAAvU/utloNZ2Qo88/s1600/australian-financial-review-bull-vs-bear-running-of-the-bulls-4764.jpg

Ed, the problem here is that you are obnoxious. We all know your position, you pretty much know what most people here think. It's not a prediction or an analysis, it's just a regurgitation of what we have been through countless times already. It's one of those things where my first thought is "this again?".

Everytime I feel a "drop" coming I have pretty much been wrong.  Once or twice I was right but did not really take advantage.

I have learned, only trying to trade a half a coin, that I cannot trade effectively.

So, yes you may be entirely right.  Or, you could be totally wrong?  Of course you have the right to try and take advantage of the swings if you can predict them.

Some of us have learned that it is just better to sit on what we have, or hodl as they say. ;)

Actually, he went bull recently. Saw it with my own eyes.  :D

If anyone else feels the same way as you would it even make a difference? And what's your justification for believing the price is going to fall?

Just based on the past behavior of previous crashes or something different?

When disagreement = hate you know we are not dealing with a "bear".

I wonder if the buyin target is still at $1 or you are braver this time and moved it to $2?

As I recall it was an uber optimistic $100 bottom he called.

(So you can be fairly sure it will never go below twice that ;) hehe)

Really? 8000% Bitcoin price increase to ath in 2013 has been "unproductive" and not interesting for you?

Is bitcoin just a game you had fun watching and observing the volitality and now it got boring?

Im sorry but I find this view point illogical, unless you made massive losses in bitcoin investments then I would understand, which you say in your case you didn't.

We really should backtest to see if Edward threads make a good indicator some day.....

When the drops come http://www.youtube.com/watch?v=OeTwwgm6Vsc

I'm buying like hell.

Good luck sellers

You should of just sold a certain amount of coins to the same value of cash that you invested.

I have had money sitting in a savings account for years earning around 1% interest and was too scared to take any risks. I missed buying BTC at £120 and entered late, but i decided it was time to take a risk as in the past i ignored my gut feelings over other investment opportunities that would have made me some big cash. I regret not taking those risks now :(

I have put 10% of my savings into BTC now as i actually believe in it and i am in for the long term, even if prices dive over the next year, i will sit back and hold until i think its right.

I will be buying a few more BTC if the price drops, but i will not be using more than 20% of what i have saved.

Whence comes this feeling? Astrologer? Fortune teller? Or are you psychic?

God, posts like this make me want to go back into bear-troll mode to show Edward50 how to really do it well...thinking...

There won't be another rally if you don't....

Hmm. Rally in all markets just started...

proudhon, you'll always be my favorite bear-troll. 

I honestly can't believe how many replies this dude gets. Must be due to the hilarity.

Either way, I just contributed to the dumbness...so shame on me as well...  :(

Those of us that were around when Bitcoinica was operating and Zhou Tong was running it, will recall that people got Zhou Tonged by being short BTC just as much as, if more more often, than by being long BTC. The biggest bit bear, that went to the slaughter, was of course none other than pirateat40. Pirateat40 actually believed that Bitcoin was some kind of "worthless funny money", until none other than the US Government proved him wrong in a court of law.

PS: I am a baby boomer.

I keep hearing about this Bitcoinica being a major scam in the old days, was it run by the same zhou tong that runs CoinJar in Australia ?

I'm still in with most of my bitcoins as I decided to sell if it goes under $675.

Just calculating my gains and it looks like I made $4785 in profit with only having invested an average amount of money of $3000 to $3500. All this was made in just a few weeks of playing around. Many of the bitcoins were even purchased at above $850 and even high $900's.
EDIT: actually my first bitcoin purchase was around December 10th and only for a small amount.

That means I made over 150% gain by playing with bitcoins.

Just thinking about it, it is so easy to win in this game because so many people like most of you bulls don't know what your doing. Don't know when to pull out and are easy to rob money from. Basically you all think the various coins are going to the moon, while I am cashing out at the highs and staying away from overpriced coins.

Maybe I will stick around to rob more of your guys money. Especially now that I really know what I am doing and am a much better trader.

Look out for the highwayman! He's coming to get your coins!  :D

lol, sounds like someone's looking for a fight... what happened, daddy didn't give you enough attention?
Don't be an attention whore, not a good look.

No, Bitcoin will never go down below 500 or 600 now. It's floor is now 800.

I feel that Bitcoin will worth at least $5000 Q1 next year.

Yes.

Everyone can't be a bitcoin millionaire,  we need poor judgment and poor analysis. Thanks

Yeah i got the same feeling, im also thinking about cashing out, i did some calculations and i belive that the price will drop to around 450 USD in mid January 2014.

I bought btc in buble in april so im still im the green numbers, but i could make some profit selling them now, and buying them back in the 450 usd level.

did you done some analysis of yourse for this decision?

That's what the smart trader does.....wait until it drops $100 and THEN sell it....





/sarcasm

If you are thinking about cashing out just print out this log chart and look at it then do what many of us are doing and just HOLD!  Next year could be just crazy!

https://bitcointalk.org/index.php?topic=322058.msg4227521#msg4227521

Yup, just keep HOLPING  ::)

Haha.  Wow.  $4785 in profit.  Haha.  Wow.  I remember the first time I traded bitcoins, too.  You've been around since June 2011 and that's all the money you've made?  Christ, what an opportunity you blew.

You are definitely a pro, making 50% profit in a 50,000% market. Sure dude, please continue robbing us as long as you want, without losers like you we have nowhere to get cheap coins from. Thanks.

LOL, Edward50 where art thou?

the problem with cashing out, is you have to cash in to....cash....which can easily be manipulated or another class of asset, that does not hodl the promise of btc.

I must have made at least 5000% in just a year. Coincidentally, Bitcoin did around about 5000% this year?

LOL @ 'buy and hold' crowd.  ::)

Edward bought in 2011 and managed to break even!
Now he's about to do a repeat performance.

Some people are consistently good Bitcoin investors.  Some people are consistently bad Bitcoin investors.  The problem is the good ones rarely divulge their recommendations.  The solution is find people who are consistently wrong and do the opposite.  Ed is one of those people.

This is solid advice.

I made a bad call this time about bitcoin, because the alt-coin market was going to crap, and I figured the bitcoin market was also. Just read my original post, I mentioned cashing out of the alt-coin market. I never traded bitcoins, only bought them to invest in alt-coins, so I never watched the bitcoin market.

I was right about the alt-coin market at the time, and cashed out before mostly everything fell. I cashed out on Nxtcoin at the peak of .00013 making over 20x my original investment at .00000500.
I got scammed and rebought in at .00009 before the source code release when the NXT cartel decided to peg the price at .00009 forcing me to buy in high. Then I sold out at .00007 and warned everybody at .00007 that I am cashing out at that point and why. Just an hour after I warned people on the forum the price dropped from .00007 to .00005. I got scammed here due to blatant price manipulation. But I still profited from my 20x rise.


However, the alt-coin market was failing because they have to share all the money being invested in them. Most of the crappy ones will fall, and only few will survive and it will only get worse.

Trust me, I am warning people away like crazy in the alt-coin community about the inevitable price collapses of many of the crap-cions, as the market is so tiny and they have to continually share any growth with all the others and all the new temporary hot ones coming out. Plus I try and let people know just how high the growth rate is on many of them which will inevitably make them fail in the tiny market.
 Trust me, many people don't like me over there, just like most don't like me here.  


There was a time you could have profited with alt-coins but you have to play it very smart. I never invested in bitcoins directly, I still have about 7 bitcoins from selling alt-coins, I sold very little of them as I basically decided to sell if they went under $675 and if it didn't just ride the wave up.

However, I did make a bad call here thinking the bitcoin market was tied with the alt-coin market, which it really isn't. Weakness over there does not mean bitcoin weakness. My mistake. I really should have made the title, "I'm cashing out my alt-coins".

Actually, the reason that bitcoin may have rose was because the alt-coin market is failing and people are putting their money back into bitcoins now. It has actually made it stronger! Which I failed to see.  

Just read some of my posts, I warned people in the Emark to cash out at .0003, and gave them good reason to. I already cashed out at .0004 after buying in at .0001. They gave me the same non-sense you guys give me that I don't know what I'm talking about. The Emark went down to .0002 and will go back to .0001 for sure.
https://bitcointalk.org/index.php?topic=310939.msg4294369#msg4294369

Look at me warn people from earth coin, only to have it fall over 25% from the warning.
https://bitcointalk.org/index.php?topic=399855.msg4331360#msg4331360


Just before saying I was "cashing out", I told people on here that the bitcoin price was going to $1000, as it did.
https://bitcointalk.org/index.php?topic=378259.msg4054436#msg4054436
https://bitcointalk.org/index.php?topic=385523.msg4148790#msg4148790

So you guys may say I am always wrong, with a few understandable misjudgments, I am usually right. Yes I was stupid not buying bicoins at $2.00, but I still told everyone it was way overvalued from $30 to $2.00. Does that really make me always wrong because I didn't buy in at that time.

So in a way I was right again, cashing out of alt-coins before the inevitable collapse. Just shouldn't have posted here in the topic that I'm cashing out my bitcoins.



 

I prefer to be wrong and make a huge profit as opposed to being right and making nothing.

+1

I am just going to keep hodling!

Honestly, OP's thoughts could have been more untimely.

Alts are indeed going to crap and have no (bright) future, short or medium term (LTC not counted).

Bitcoin has just bubbled and is doing a rebound, but chances of exceeding max levels are small in the absence of major catalysts (China is so 2013). A slow downtrend is not unlikely at all.

Oh shit, OP is down on ALTs now?  Count me IN!!! :P

what is OP,please ?

OP, you have to believe in Bitcoins value. And dont bet what you cannot lose. And if you are in you must be all the way!

but what is the Abbreviation OP ?

Seriously?
http://lmgtfy.com/?q=OP+forum

it was seriously,but now i got it . Thanks

ugh this thread is so headache inducing, OP is full of contradictions.