Bitcoin Forum

should i buy now (coin base only allows 3k a day (level 1 not level 2) so a few days worth of spending like 4 days)
or should i wait

if i buy at 700ish now and it goes up or down the next days i could probably average 650-750 price spent on coins
is now a good time to buy?

i would plan to hold rather than flip for a quick buck
please advice needed

If it's going to go up you should buy.  If it's going to go down you should wait.

If you have to ask, you're too stupid to invest. Go get a job.

If you are paying Coinbase's extortionate premiums then you certainly aren't in the quick flipping market.

I have replied in one of your other threads and get the distinct impression that you are looking for some kind of confirmation that now is a great time to invest in Bitcoin.

This is what you want to hear, and plenty of the Bitcoin Nutters will gladly tell you this, but as you know, they were all gladly telling you to invest when Bitcoin was over £800. We are now sub $700.

Nobody really knows what is around the corner, but certain probabilities are more likely than others. If Bitcoin rises, I struggle to see it going much beyond $750 - $765. If it does get to this level and shows strong support at this level, than that might be a time to buy. Otherwise, the next stop for Bitcoin quite frankly is the $400 - $500 range, with the strong likelihood of Bitcoin actually shooting under that before the battle at the $400-$500 range is played out.

I was one of those who told you to wait when Bitcoin was still at $810. I am still one of those advising you to wait. In the end, you are responsible for making your own decision, but beware of the majority of advice that you will get in here. If I had listened to the majority in here back in the days before I knew my MACDs from my RSIs (about 2 months ago), I would be the not so happy holder of 26*$1100 Bitcoins.

P.S. Instead of dicking around with Coinbase, get yourself a Bistamp account and get some funds onto that exchange. If you trade regularly enough, premiums are 0.2%.

Every day new thread, so there could be something about that. Just buy it all in one or in multiple buys - have a plan for the last one. If you are long few % doesn't matter, same also if this thing goes down long term.

Here is what i was thinking
i dont think i want to short unless i need the money in a few weeks/months
so i dont mind paying a premium

if coinbase only allows me to buy 3k a day and i could do a few days then i could probably average
around 725+ if I buy now or tom morning.

then i would hold year+ or short if I need the cash
is this a good strategy?

You are clearly not going to listen to anyone who isn't telling you what you want to hear.

So here you go, forget all the boring caution in my previous post which you probably got bored reading 1/4 of the way through. Here is my new advice to you:

Now is a great time to buy Bitcoin. $680! That is almost half what they were trading at just 7 weeks ago. That means you are almost 100% up on your investment already. Buy as many Bitcoin as you can as soon as you can. Your averaging out buy-in plan on coinbase sounds great. I thoroughly recommend that you do just that!

Hope that helped.

so your original advice was for me to wait.  I am open to suggestions.

dont buy now. wait till its nice and flat and hopefully crashed out.  we are looking for cerca $450. If it doesnt crash to cerca $450, wait for an up trend to resume.
this will take weeks maybe months.

yea i believe what you are saying because when it was at 1000 and suddenly went to 988, i bought but quickly cancelled.  later it went to 500

hopefully it gets lower from here and i think ill wait
even if it goes back up doesnt matter to me (I rather hold in the long run)

there is something to be said for buying just a few right now, you see if the price goes up from here and breaks the down trend, the risk reward setup is terrible for bulls.

See this man here:


First 'debate' I had with him, was when Bitcoin was still around $850 (or perhaps even higher). He was bullish back then, yet now, he is looking at buy-in opportunities in $400 - $500 range.

Draw your own conclusions.

i want to i really do, but i do think it will either hover in this area for a little or go lower
if i can get them for a little cheaper than that would be better.  Bird in the hand vs greed

Bitcoin will dip a bit then go back up.

Then crash when the FBI sells. Then go up a lot.

mat you dim whit, I said a number of times that the price might fall to 500, and unlike you I didnt lose money. Im making money on this cos im not a binary person like you. I can change my mind when the market changes. and at the end of the day the market can only go two ways, so get over yourself you bloody prophet.

ok heres what i think i will probably do.
in the long run I plan to stay with bitcoin till the end.
i want to do a long term hold.

right now i will wait and see if btc goes lower than 650
if it nears 500 or 550 i will probably all in

if it goes up to 750 and shows up trend (without signs of going down)
i will probably invest

a 100-200 difference is no big deal to me at all (does not phase me up or down)
but if i can get them at 500, i would love to otherwise 700 is fine for me

my goal is to long hold (year)
right now i just want to see if i can get a better price
i will wait a few days and see whats up

anyone can second this?
I am new to bitcoin and looking for thoughts on this idea

What the fk you talking about?

I have lost money on individual trades. Over the piece, I am thousands of GBP (the only currency that I care about) in profit. I am such a bad loser, that if I had actually lost money in Bitcoin, I doubt that I would even be here.


Remember, not just goes up to this level but also tests this level turning into a support level and proves that the market forces think $765 Bitcoin is cheap and will bite hands of to buy Bitcoin at this price.

it's subtle in the way you boast about your winners. we all know you are a loser. you behave really immature matt. full of crap.

Go and show me a link to any of your past threads where you have in anyway accurately predicted what Bitcoin was going to do next in the past two months and stated you were putting your money where your mouth was.

I can provide a ton of links where I have done this. You can provide fuck all you clueless hapless loser.

all in favor changing the name of this thread to matt vs chessnutt  ;D

+1
let me at him!

Do me a favour and tell me the easiest way to convert BTC -> GBP without sitting on local bitcoins all day?

Cheers  :D

ftfy

You are probably aware that if you do a foreign currency exchange via the banks, that they fk u up the arse on the exchange rate (4%-5%). You are probably also aware that there are cheaper ways of transferring money around the world, such as TransferWise, but that they have been instructed not to deal with Bitcoin exchanges.

You need a foreign bank account mate, or access to one. If it isnt't your own account, then the holder of the account will have to open their own Bistamp account, as Bitstamp can only do transactions with accounts belonging to the named Bitstamp account holder.

I opened myself a Euro bank account with Deutschekreditbank (DKB) specifically for Bitcoin purposes, although having a Euro bank account will of course prove to have lots of other uses.

Using my DKB bank account, I can get Euro in and out of  Bitstamp with zero costs (tiny Bitstamp fee of 0.75 euro or something) and using TransferWise, I can transfer EUR to GBP, or GBP to EUR for less than than 0.2% premium, or if I am in a hurry, about 0.5% premium.

Cheers mate, I'll look into this.

Might just swing you a PM in the morning, I'm off to bed now.

Tony.

Edit/ Also, my german isn't great so might have to choose another bank haha

I wish I had followed this:

http://en.wikipedia.org/wiki/Dollar_cost_averaging

Open an account with BitStamp.

First:
make your decision/opinion about the future of bitcoins.
Second :
Make a personal forecast/estimation for the value of bitcoins in about 1 or 2 years
than conclude:
is your personal value-forecast/estimation >let`s say 2000 €/BTC than ist dosn`t really matter at what Price below  800 €/BTC you are going to buy BTC.
The higher your personal value-forecast/estimation  the less does it matter.
You will be on the winning side either way.
So did I:

Now I am watching very relaxed and amused price-movements.
The only thing to strictly be applied is:

IMHO: BTC is

They do seem to lack an English option on their website. I am sure that there are other alternatives. I know that Deutschebank have an English language option on their website and people who can speak to you on the telephone in English. Of course, I have no experience of opening an account with them from abroad.

@OP, I saved your ass last time when you wanted to buy in the 820s by saying we would see 700 soon. And I still don't think it is a good time to buy.

The OP seems a near certainty to get slaughtered. He aint even bought any BTC yet and he is getting all fixated with all the Bitcoin to a bazillion USD within the next 12 months theories, backed up with log charts with lines drawn on them of course. He has got his hands on 12K USD, and imagining what life would be like if he could multiply that by 10, 20, 30, etc

Bitcoin will probably trend at $700 range for a few days. The OP will get impatient and will convince himself that Bitcoin has shown strong bottom support at $700 and that the trend has reversed. He will look to users of this forum for the bias confirmation that he wants to hear and he will of course get it in bucket loads. His attention span and personal bias will prevent him from even reading two single sentences from anyone who advises that caution be exercised. The OP will likely start entering the market right at this range. Within a few weeks, he will find himself around 30% underwater. He will look to this forum for moral support, he will again get to told to HODL, and be commanded to put as much new fiat as he can muster into these unbelievably cheap Bitcoins. Then Bitcoin will really tank as the true final capitulation hits. He will be 70% underwater by then, at which point, he will sell everything.

As Bitcoin bounces back, he will jump back in with the little capital that he has left, right at the top of the bounce. Bitcoin will then slump back down. He will sell taking a further 40% haircut. Bitcoin will spend a period of time in doledrums before building up support for another bull-run. A bull-run the OP will not be in a position to take advantage off.

LMAO.  ;D

Nice writeup. I like your new style better than your mouth-foamy period :D. But "70% underwater"? Really? $213 per coin, can I quote you on that :)

No.

SELL ALL THE COINS

BITCOIN IS CRASHING

IF MTGOX DIES, BITCON DIES WITH IT BECAUSE MTGOX HAS 80% OF VOLUME

I hope your joking. Partly since you're saying hodl in another thread but mostly because I can't remember the last time Gox had 80%

Theyre joking. BitcoinAshley is a HODLER to the end.

Spot on. Best comment i have seen in here in the last weeks.

BitcoinAshley is trying to do a Proudhon impression, but failing badly as with the odd exception such as his 'MtGox 80% of Volume' comment above, his attempts at satirising fear mongering FUD spreading bears, have actually turned out to be razor sharp market analysis.

I don't understand this mentality. If the price goes up, you will invest. You want to be sure you get less coins than you could get now. Why not just invest now while the price is below your target?

Erm, because he wants to be sure that the trend is going to go in his favour?

$750 - $765 right now is a strong resistance level. If Bitcoin can take this out, and test it convincingly, then it 'proves' that strength is returning to the market.

Only a tiny percentage of Bitcoins out there are being put to any actual use. The rest are being held or traded for speculative purposes. If Bitcoin aint going to go up, then it is going to go down. It is that simple.

The end result is that he will get less coins. What's so hard to understand about that? And why would anyone consider that a good thing?

What is so hard to understand? When 'bitcoinsrus' first came running to this forum practically pleading with Bitcoin Nutters to convince him to dive face first into this shark pool, Bitcoin was $810. I told him that I reckoned Bitcoin was going lower, much lower, but if the trend was going to reverse, then Bitcoin needed to get up to and above the $835 range, and stay above it on convincing volume, preferably testing this level a couple of times and being met with a large volume of buying power at this level. If Bitcoin done this, then I would look at going long Bitcoin myself.

So, If I would have been happy to buy-in at +$835, why wasn't I happy to buy Bitcoins at $800 and thus get them even cheaper or further still, why amn't I buying them at $700?

Because I want the market to prove to me that I am not going to piss my capital into some whale's private fucking yacht fund!

Do you understand anything of how markets work?

Seriously.  :o

Quit it with the nutters thing already.

He is willing to buy at 750. The price is below that now and nobody knows if it is going to go lower. He can be sure, right now, that he will get more coins by buying now than if he waits for the price to go up. Nobody knows if the price will go lower, so waiting for that to happen is a hell of a gamble.

835 is higher than 750, incidentally.

The term 'Bitcoin Nutter' is a valid one and should be used often. I rest my case, upon the following quote:


 :o  ???  :o  ???  :o ???  :o  










 :D  

Oi Nutter!

Oi Oi Oi !

hello matt, i read all your comments and i appreciate your time
i was planning to not buy as of now because from past trends i just feel it could go down to 600
i will see next week where trend is

i dont care if it goes back up, if it does go back to 750 or 800 and i should have bought now, i am willing to take a loss.  i plan to hold long (few months to a year)
so i wait for now and everyones advice is being considered

yea i second this, im waiting to get in

Well put! Yet if you hodl (Im getting sick of this word) this will never happen and the current price is good in the long term. At least I believe it will be.

If its a short term investment wait. If its a long term investment buy, store, and do not come back to this forum for another three years. The price may drop another hundred or two but all the energy/ time you would have spent watching the price will be worth the small loss in the big scale of things.

SELL ALL THE COINS

BITCOIN IS CRASHING

IF MTGOX DIES, BITCON DIES WITH IT BECAUSE MTGOX HAS 80% OF VOLUME

i felt like you wrote this already (not sure on this post but I seen it somewhere)
anyways thanks for your opinion

Wait 3 years? Do you not realize that bitcoin is an all out attack on the establishment banking system. Once bitcoin starts bothering them again it's at high risk of being killed off or being replaced by a more establishment friendly crypto. It is advisable to bitcoin noobs such as the OP to check its developments at least once every week and have price alerts on their phone. Hodling bitcoin long term at this point is high risk.

Matthecat is ASS Talking again, in another thread he says bitcoin will be $10,000 by end of Feb and many forum members believed him and are going " o my god really ooo I hope ur right I'm so happy ooo"

Ass talk

i did read that post and was wondering about it

Realize the risk you are taking, take it or not. Check back at a later date. 3 years is hyperbole.

I believe that it will get back to 1k again, so I'm not worried. Worse case; it was just a savings account.

completely agree and life involves risks

I wrote a reply to your "My Plan" thread but it was locked before I could hit "post" so I'll try again here.

Do not rely on this trollbox forum for advice. Most people here are pimping their own positions and preferences, including those from outside the Bitcoin community who may have a vested interest in seeing Bitcoin fail completely.

A good rule of thumb is to disregard anyone without 3-digit activity. That doesn't mean you can trust all senior or hero members, but at least there's enough posting history to figure out who the worst trolls are.

yea again sorry for the 4 posts here today guys

yea i listen to everyone but i try to see what makes sense
what makes sense is to wait this dip out and then buy and hold longterm

when i first heard about btc i wanted to short, but i see more potential in holding long

I think you should consider buying now. We are at $700 on Bitstamp.

The 200 SMA is at $425 and increasing everyday. Unless some catastrophic happens, we will not be going below that for more than a day or so worst case scenario (we haven't been below it since 2011). And within a month the 200 SMA will be at $500, so unless there is a strong immediate impulse down, the floor will be above $500 soon.

So you downside risk is probably <$200.  However, assuming you believe in the technology of bitcoin, the upside potential is massive.

Now, you have around $12k to invest. So the only reason to gamble that it goes lower is to get more coins, as they are precious.

So at $700 you can purchase 17.14, $600 gets you 20 and $500 gets you 24 coins. The difference between $700 and $600 nets you less than 3 coins, but best case scenario you get around 7 extra. Best case scenario.

Meanwhile if the market moves back to $800 you can purchase only 15 coins.

So is it worth the risk to you to wait?

I think short short term we are going to go up. Because Gox is going to open btc withdrawals again and there is going to be a spike in Gox price that will effect the other markets to some degree (not greatly, but some).

Over the next month or two, I am more bearish as we are in a period of limbo waiting for regulators to open the door for new investment vehicles and products. I think we could see low $500's.

But bitcoin could always see a large infusion of investment from somewhere unforeseen, so that is not a given either.

So you just have to measure your risk reward.

The OP specifically said he isn't looking to flip it for a quick buck. I know you are still having trouble understanding how any could possibly not be a trader, but what if he just buys and holds?

If he doesn't need the cash, and is happy with the risk that it could go to zero. It's a 50/50 bet that he could get more or less by waiting. I've also plunged in headfirst at $15 and then regretted it for months as I took a *87%* haircut on capital. I've also sat on the sidelines at $5 waiting for cheaper coins, missing out on picking up hundreds more, and then regretted that forever.

12k gets about 17BTC right now. If you believe in the moon or bust theory, thats not a bad holding...

Don't worry, that's not actually my opinion.

Gox has 5% of volume. No one cares about Gox. Anyone with half a brain stopped using Gox last year.

The only reason what's happening there now is getting so much attention, is because it's fun to laugh at the retards who still thought they could get away with using Gox... well, looks like they "Got Goxxed(tm)"  8)

I don't know about coinbase but watch and wait. The price will approach 500 gox USD. Set an alarm, don't go to sleep, don't act on averages less than 1 hour old. Jump when you can't take it anymore. Personally, I don't think we'll go lower than ~500 before the the anticipated gox announcement.
I'd rather be in 500 dollar btc than in cash when the news hits ;)