Bitcoin Forum

I just sold all my bitcoin (not much lol) hoping for a dip..

How low do you think it will go and at what price should I buy it back?

If your luck is like mine, the floor was when you sold. However, since I have not yet decided to sell, my bad luck may yet save you.

good.  go.  get out of here. nerd

Never have and never will try to sell mine, unless I have to pay for something. Bad move, in my opinion.

You definitely made a mistake. I doubt it'll go any lower but who knows...

I don't know but I need the price is rise back up to $800 at least before I sell mine.

I have heard rumors that COINBASE is on its way to freezing transactions soon along with other exchanges.. driving down the price to under $150 dollars per BTC.....  :o

So if this happens I will stock up on BTC

At a much lower price would be a good start.

I would suggest $380 on Stamp would be a good buy-in as there will most likely be a bit of whiplash action around this price point.....whether this turns out to be the low on the otherhand is another matter.

Umm, lemme guess, the rumor you're talking about came from the thread started by a well known troll and is only a couple of threads away from yours? 

never sell everything if you think the price will go up in the long run.  Make a separate long-term and trading stack.

We're in a bank run situation now. I'd be surprised if they didn't halt withdrawals along with all other exchanges soon.

Risky move.  The only people with no regrets in Bitcoin are those that bought coins and then held them.  It is hard to know what the bottom of these crashes really is.

Sure some people have a knack for taking advantage of the volatility but some of those same people have lost fiat or coins in the process and many have admitted that they would have been better off just buying and holding for the long term.

Shit this is that classic thread that indicates a floor has been hit. i was really hoping for cheaper coins.

This might be temporary until the devs apply a fix to the recent (minor) issue/s.
The price won't go down that much.

a big big mistake.

You will know why in a week or two.

 ;D  You read my mind!  

The only problem I have is that I have no fiat left to buy more coins.  

it's time to get up and rebuild stronger :)

You said less than a week ago that Bitcoin was going to do nothing but trend at $800.

(you were proven wrong within 3-4 hours).

At least you may as well invest in some other crypto that has potential so that you minimize (or maximize?) the risks after opting out from bitcoin. It is such a volatile market that is as risky as rolling dice mate.

only had 5 coins fill at 635 :(((((

What he said has nothing about his previous predictions to do

Not all of my posts are to be taken seriously, including the one you are quoting. I was making jokes about 800 because we had bounced back to 800 5 times already and I was getting sick of it.

Don't listen to the echo chamber; no one has ever gone broke by locking in profits.

probably greatest line of advice this year

Who says the OP can actually lock in profits at these prices? :P

Lock in profits in what currency? Yeah, you made few more monopoly bucks and meanwhile lost the only real money you had.

True, but cmon, it's just one fella sold his coins. you need a larger measure of sentiment. 500 is still in striking distance just by correction.

well, the last position I closed I did by paying off the monopoly money margin and keeping the remainder :)

I'll take USD over BTC any day of the week.   In fact, the only use I have for BTC is as a speculative tool to grow my USD.    

Using margin for the least amount of time is generally the right thing to do. One needs very good reasons to deviate from this.

Funny, I only have fiat for (relatively) short term liquidity. It's like a leaky balloon being passed around a crowd and you want to hold it the least amount of time possible.

USD doesn't really have any value. It's only useful because most of the world hasn't figured this out yet. Pssst don't tell anyone ;)

USD didn't net you a return of 500% over a few months either

The bears are clearly getting delusional

-1
Perhaps you should check USD against bitcoin one year ago. I'm pretty sure USD lost a couple 1000% there...

Giant swings in purchasing power isn't a positive quality in a currency.  In a stock, commodity, or other investment vehicle sure...but in a currency, it is a very BAD thing.  



 

SAY WHAT!?  ::)

What a great big pile of complete and utter common sense!

Are you sure you are on the right forum?

Getting?

 ;D

ya you're right, USD loses 3-12% in real value and some thousands % relative to bitcoin per annum :p

I just use bitcoin as my savings account and disregard current price. if i need something i sell bitcoin into my checking account to buy it. no way will my spending ever outpace Bitcoin appreciation this way. As a Bitcoin investor, I hate selling and the process keeps my material wants in check :)

I just sold my bitcoin too. What a liberating feeling not being tied to the charts anymore!!

Indeed (don't miss the spike on the right of the first image):

http://dollardaze.org/blog/posts/2009/January/07/1/US_Monetary_Base.png

http://s1.hubimg.com/u/401250_f1024.jpg

Pictures speak a thousand words.

wow, and with that, the picture is in a CHART

Hopefully you sold at a good profit. You're obviously a speculator rather than an investor (holder).

Holders aren't tied to the charts like speculators. They're as stress free holding BTC as you are holding fiat.

I only continuously use margin during the major rallies, like in November, and I keep my liquidation price at no more of than 1/3 of the price.

I can but I won't as such short term fluctuations are completely irrelevant. See even in the chart above there has been a string of several years where the purchasing power of the USD actually went up. Short term is irrelevant except for liquidity. Therefore I still own some fiat for liquidity.

Bitcoin is not a currency. Yet. Right now it behaves more like a stock or commodity and it will probably start behaving more like a currency as it matures over the years. So your point is moot.

Yup, the USD has had a steady loss in purchasing power over a period of 100 years.  

Now explain how swings of purchasing power of up to 80% in a matter of days or weeks makes BTC a more desirable currency than USD.

Then comparing it to a currency like USD is asinine.

Because purchasing power will be stable long term (starting off with a huge volatile increase).

*citation needed*

You have absolutely no idea what the price will do in the future.  No one does, and to pretend otherwise is disingenuous.

Look at the long term purchasing power of gold. Very stable because there is no (or a relatively low amount compared to fiat) of inflation. Now think of Bitcoin: NO inflation. 21M BTC is the most there ever will be.

Why such a ridiculously short time frame? How about since September?

Why not really go for it and ask for the month of April 2013?

There's been a bull market since 2010 ;)

+1

Why? I can compare gold to USD as well for example to show that gold is a superior store of value. Anyway I wasn't the one who started the comparison, someone else did to show that BTC has been losing value against the dollar compared to two months ago. I simply zoomed out the chart for him a bit to show how much value USD lost against BTC over an entire year. I don't give a crap whether you want to categorize Bitcoin as a currency or not.

You do realize that the gold market is heavily manipulated, right?  Golds price has nothing to due with any intrinsic value as a store of value/currency, its value as an industrial metal, or its limited supply.   Nor can BTC be compared to it in any sensible way.  They are planets away from each other in about every sense possible.

That aside, lack of inflation and a limited supply in no way adds up to stable price. BTC could stabilize, it could continue boom and bust cycles, it could skyrocket to infinity, drop down to nothing, or anything between....and NOBODY knows which of these the future holds...and anyone who says different is full of shit.

Just like April 2013 was the end of the bull market right? :D

April was when you got goxxed I believe.

I think you made the right choice but I'm a terrible trader and have made nothing but mistakes. I recently sold mine in the low $700s and am looking to buy at or below $600. The thing is patience, which has always been my problem. I'm still not sure what feels worse, selling only to see the price rise and leave you behind for days/weeks or buying and seeing the price go to shit.
I think it's important to stand behind your decision, don't buy back in higher - wait it out. If you buy, don't sell for a loss. You don't lose anything unless you commit. Much easier said than done, but this market is so volatile at this stage it's bound to come around again. It's not like you are losing any interest by not holding for a while. The nice thing about not holding is you don't have to worry about collapse, however unlikely that is.
And yeah, ignore the nutters who got in at a few bucks or less, they aren't in our shoes.

Since the 1900s? Just look at the purchasing power now and then. Taking an hour labor of a skilled craftsman is a common way to compare this.

I thought this was the bear trap of the 2014 bull market.

http://i664.photobucket.com/albums/vv10/JimboToronto/BtcGrowthChart.jpg (http://s664.photobucket.com/user/JimboToronto/media/BtcGrowthChart.jpg.html)

At least. If not earlier.  

http://i.telegraph.co.uk/multimedia/archive/01494/PF-gold-price_1494468c.jpg




Which still has fuckall to do with BTC price.

Might help if you mention what price you sold at.

It's been mid-high $600s all day. I'm still waiting for the real crash, one that lasts more than 5 seconds.

give it 12 hours I reckon, we will see 550, maybe less.

Highly unlikely. The "crash" has happened.

'highly unlikely' - where do you get your sources?
It is trending down, sorry.
there is only FUD to think about, russia bans, apple bans, mt Gox down, BTCe witdrawal problems, 'bug' in the system (there are ignorant people to believe this)..... etc... and there is no good news coming for a while either. give investors time to dwell on these.
last night all the happy go lucky speculators were cheering 'to the moon', obviously, the crash has not happened.
expect 350...... because you dont.

a trend is a trend til it's broken :p

and in semi-related news

who?

"Trending" is entirely dependent on your chosen timeframe. The bitstamp price has been trending nicely up the last 12 hrs.

Apple ban - nobody cared. Everyone already knew Apple didn't take bitcoin products. No idea what the minor fuss was about.
Russian ban - totally expected. Russians, like Chinese, want to control their people. Bitcoin was never going to happen in Russia. About as likely as taking off in North Korea.
Gox down - good. Hope it stays down
Withdrawal issues - will be fully sorted in next couple of days (except Gox which is a disgrace).

You believe there will be a big crash. I don't. We will have to agree to disagree. No need to get excited about it.

well obviously the trend Im talking about is based on a few weeks. 500 is certainly in striking range in the next couple of days.
you have me given the correct explanation of why these factors are all FUD, but Fear, uncertainty and doubt they certainly are.
if you wanna talk about longer term uptrends, Im with you on that subject.
if you look at the chart, you can see we are threatening 550....

I think it's going to be very telling once bitstamp enables BTC withdrawals. I wonder what Gox will do?

Once people realize they've been royally Goxxed and Gox no longer has an excuse that carries half a drop of water it's going to be very interesting indeed...

So why should Bitcoins be valued at its current price when 40% of the mobile market not be able to buy anything using their phones? When the government of a 1/3 of the worlds population not support Bitcoins growth. There does not exist a dedicated Bitcoin exchange that technically deals with the US government when 90% of Bitcoin business are located in America. I want Bitcoins to grow, but it is still lacking in so many ways and just because the price is at a ridiculous value doesn't mean that. Look how easily exchanges are bound to fail with simple government intervention or FUD panic...    

The problem with chart reading is its a bit like reading tealeaves. Get 10 "experts" to draw triangles on charts and you get 10 different "readings". The only chart threatening 550 is the Gox one and I really don't give a rat's arse about what the Gox chart shows these days.

You might be right of course. People may be overcome with FUD flu in the next days, and the price plummet. But most bitcoiners have seen this all before and STAY CALM.

exactly,
plus, $700 is still a speculative price, not at all justified by commercial demand. It is very unstable, and that makes larger investors nervous.
if there is a wave down, aint nobody wanna catch a falling knife. panic is so easy to cause in bitcoin.
who will push it up in the coming days? I dunno. the smaller speculators have had their fill. it will range trade for a few days, before trending down to 400.

yeah lines and triangles are ambiguous at best, but sentiment is second to none as an indicator. as long as the troll box is full of happy and hopeful speculators, the crash hasnt quite finished yet. thats nature.

I don't go to troll boxes ever since spending a couple of days on btc-e. Watching pumpers and dumpers go through their routine is just a waste of one's life ;)

Stop making 10 quotes in a single post.
The buy side on bitstamp has improved, the crash might have happened, or it might move a bit more down.
The price will definitely spike once it's in the news everywhere (positive, not media FUD).

That's the spirit! Lol...jk my timing feels like it is a lot like yours sometimes..

Stop telling people how to post.

Stop telling people to dont say how to post :)

No you stop.

Pretty mature for the economic forum...

posted somewhere around here

Dead? :) There always will be some problems with understanding each other.

Forum is a forum. Bitcoin is a large project and we have here all nations in age 12-99,
economist, lawyers, builders, dealers, mothers, brothers ...

all kind of people :)

not all of us are just economy lovers.

And for example I dont know a lot about economy. I know a lot about IT, but economy is not realy my pair of shoes.

:)

If you think, that because not every post is clearly about economy or smth this forum is dead I guess you are wrong.

:)

just lots more noise to sift through than in the past :)
noise that unfortunately gets picked up into people's schema oft leading to false bases of logic

I believe you are right.
And this what you are talking about is because growing popularity of bitcoin.

:) before bitcoin was mostly topic for geeks and economists and cypherpunks :) now borders are wider, and everyone is invited (let say). :)