Bitcoin Forum

Economy => Speculation => Topic started by: MatTheCat on March 17, 2014, 05:37:50 PM



Title: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 17, 2014, 05:37:50 PM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

Why am I announcing this in speculation?

Because I suspect that many other traders or investors looking for good entry for longer term investment are going to be doing the same thing right now. Lets face it, Bitcoin isn't going to be doing anything much, anytime soon other than trend and grind, predominantly in a downward direction. I feel it, you all feel it, the hackers with thousands and thousands of stolen coins feel it, so why risk having tens of thousands of USD sitting in some exchange with each of it's feet planted in different countries jurisdictions with still lots of uncertainty shrouding security of Bitcoin exchanges, (yes, even Bitstamp)?

I have this apathetic sentiment towards Bitcoin as do lots of other Bitcoin investors, which kind of adds to the snowballing effect of bearish apathy.

I am holding zero Bitcoin. I still have an amount of Fiat on exchange, some of which will be turned back into GBP via BTC and LocalBitcoins, with a small amount left on exchange, 'just in case'. But the reality is that I don't expect any of my 'flash crash' buy-ins to be fulfilled, at least not until Bitcoin is trending in these sort of ranges anyhow, and I don't need preset buy-in tranches to buy Bitcoins in ranges where I will have all the time in the world to decide on whether to buy or not. Sure, there will still be swings in both directions that I could take advantage off, but will they really be worth the hassles and risks?

That is my sentiment and suspect it is widespread and growing. We were all waiting on the spectacular bottom to occur, to get our buy-ins, and then for Bitcoin to go shooting way back up to the moon but with that one day of Ukraine banking system panic put to one side, things aren't going to work out quite as simple as that. Indeed, I have seen convincing Elliot Wave analysis suggest that the bottom needs to be retested (and according to fibbonacci time ratio principles it aint happening anytime soon), or indeed that the bottom isn't even yet in from the post $10-$1200 bubble crash.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: chriswilmer on March 17, 2014, 05:40:29 PM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

Why am I announcing this in speculation?

Because I suspect that many other traders or investors looking for good entry for longer term investment are going to be doing the same thing right now. Lets face it, Bitcoin isn't going to be doing anything much, anytime soon other than trend and grind, predominantly in a downward direction. I feel it, you all feel it, the hackers with thousands and thousands of stolen coins feel it, so why risk having tens of thousands of USD sitting in some exchange with each of it's feet planted in different countries jurisdictions with still lots of uncertainty shrouding security of Bitcoin exchanges, (yes, even Bitstamp)?

I have this apathetic sentiment towards Bitcoin as do lots of other Bitcoin investors, which kind of adds to the snowballing effect of bearish apathy.

I am holding zero Bitcoin. I still have an amount of Fiat on exchange, some of which will be turned back into GBP via BTC and LocalBitcoins, with a small amount left on exchange, 'just in case'. But the reality is that I don't expect any of my 'flash crash' buy-ins to be fulfilled, at least not until Bitcoin is trending in these sort of ranges anyhow, and I don't need preset buy-in tranches to buy Bitcoins in ranges where I will have all the time in the world to decide on whether to buy or not. Sure, there will still be swings in both directions that I could take advantage off, but will they really be worth the hassles and risks?

That is my sentiment and suspect it is widespread and growing. We are all waiting on the spectacular bottom to occur, to get our buy-ins, and then for Bitcoin to go shooting way back up to the moon but with that one day of Ukraine banking system panic put to one side, things aren't going to work out quite as simple as that. Indeed, I have seen convincing Elliot Wave analysis suggest that the bottom needs to be retested (and according to fibbonacci time ratio principles it aint happening anytime soon), or indeed that the bottom isn't even yet in from the post $10-$1200 bubble crash.

Quoting for the record books :)


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 17, 2014, 05:43:23 PM
Quoting for the record books :)

I have been 'quoted for truth' many times on this forum.

People who quote me tend not to get the opportunity to remind me of past statements which make me look silly in light of further developments. Sorry, but that is just how it has mostly been so far.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: podyx on March 17, 2014, 05:44:55 PM
or indeed that the bottom isn't even yet in from the post $0.0001-$1200 bubble crash.

FTFY 8)


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 17, 2014, 05:48:34 PM
or indeed that the bottom isn't even yet in from the post $0.0001-$1200 bubble crash.

FTFY 8)

No, you broke that for me.

.00001 - $30 bubble. (2011)

Followed by long stagnant consolidation period of Bitcoin at around $10 (or less)

$10 - $1200 bubble. (2013)

Long stagnant consolidation period of Bitcoin yet to form itself at any given price.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: inca on March 17, 2014, 05:51:19 PM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

Why am I announcing this in speculation?

Because I suspect that many other traders or investors looking for good entry for longer term investment are going to be doing the same thing right now. Lets face it, Bitcoin isn't going to be doing anything much, anytime soon other than trend and grind, predominantly in a downward direction. I feel it, you all feel it, the hackers with thousands and thousands of stolen coins feel it, so why risk having tens of thousands of USD sitting in some exchange with each of it's feet planted in different countries jurisdictions with still lots of uncertainty shrouding security of Bitcoin exchanges, (yes, even Bitstamp)?

I have this apathetic sentiment towards Bitcoin as do lots of other Bitcoin investors, which kind of adds to the snowballing effect of bearish apathy.

I am holding zero Bitcoin. I still have an amount of Fiat on exchange, some of which will be turned back into GBP via BTC and LocalBitcoins, with a small amount left on exchange, 'just in case'. But the reality is that I don't expect any of my 'flash crash' buy-ins to be fulfilled, at least not until Bitcoin is trending in these sort of ranges anyhow, and I don't need preset buy-in tranches to buy Bitcoins in ranges where I will have all the time in the world to decide on whether to buy or not. Sure, there will still be swings in both directions that I could take advantage off, but will they really be worth the hassles and risks?

That is my sentiment and suspect it is widespread and growing. We were all waiting on the spectacular bottom to occur, to get our buy-ins, and then for Bitcoin to go shooting way back up to the moon but with that one day of Ukraine banking system panic put to one side, things aren't going to work out quite as simple as that. Indeed, I have seen convincing Elliot Wave analysis suggest that the bottom needs to be retested (and according to fibbonacci time ratio principles it aint happening anytime soon), or indeed that the bottom isn't even yet in from the post $10-$1200 bubble crash.

So you sold all your coins and hope to buy back in lower? I hope this thread helps you to try and manipulate the price lower!


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 17, 2014, 06:00:52 PM
the safety of my EUR bank account.

I don't know what country you are in but the words "safety" and "EUR bank account" aren't exactly compatible.

http://www.zerohedge.com/news/2013-09-26/cyprus-style-wealth-confiscation-starting-all-over-world

http://www.zerohedge.com/news/2014-02-16/money-launderer-until-proven-innocent-italy-imposes-20-tax-withholding-all-inbound-m

Now, I'm not questioning your assertion that BTC is in a bearish spiralling down-trend of doom, nor am I questioning your decision to move funds out of Bitstamp. I'm just questioning why on earth you'd move it to a EU bank account instead of gold or silver or a chinese exchange where it could sit as yuan or any other number of much safer means of storing wealth.

As I said, I don't question your decision to move out of Bitstamp. I'm just saying that I personally would rather put all my funds in DOGE (or any other fad scamcoin) than store it in a EU bank account.

I might have bought all that emotionally appealing reactionary shit one day, but I don't anymore. My euro bank account is in Germany. As far as the EU goes. Germany is The Man. If there are further Euro crises, it won't be the German financial system that takes the hit.

The problem with putting money into gold or silver is that there is a time delay and high dealer premiums to be paid. Even using an allocated account service such as GoldMoney (where I still have a small amount of silver), turning fiat into silver costs 4.5% and into gold costs 2.5%. I may yet do that, but I would have to look much more closely at the pm markets and decided upon a good entry point.

But in the meantime, if I don't believe that Bitcoin is going to be doing very much, am I going to be better off holding my capital in USD form on Bitstamp or in EUR form with a German bank from which it would take just one day to get back to Bitstamp if I decide that it is needed there? Methinks that the answer to that is quite obvious.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: adamstgBit on March 17, 2014, 06:03:14 PM
In the not so distant future bitcoin will be 900$
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.

 ;)


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: tutkarz on March 17, 2014, 06:05:31 PM
I realy don't like that type of people like OP. When the price will start to grow, they will be moaning and trying everything to crash price back because they made wrong decision again and didn't bought up enough bitcoins. When people will start to think some more and grow up eventually.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Dalmar on March 17, 2014, 06:12:49 PM
I took a significant portion of my BTC play money off the exchanges as well. Used it instead to speculate on hot stocks (shorting them mainly) and it has been more productive than waiting for bitcoin to come out of this triangle of doom and low volatility.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: oda.krell on March 17, 2014, 06:32:46 PM
In the not so distant future bitcoin will be 900$
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.

 ;)

Spot on.

Also, "in the not so distant future" will probably be around late April/early May, so I also think Mat didn't pick the smartest moment to withdraw all funds. But let's see, if there's one consistent theme to his posts it's that he changes his opinions pretty quickly (nothing wrong with that, btw. better than being permanently stuck in either bull or bear mode, imo)


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: inca on March 17, 2014, 06:34:57 PM
In the not so distant future bitcoin will be 900$
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.

 ;)

Spot on.

Also, "in the not so distant future" will probably be around late April/early May, so I also think Mat didn't pick the smartest moment to withdraw all funds. But let's see, if there's one consistent theme to his posts it's that he changes his opinions pretty quickly (nothing wrong with that, btw. better than being permanently stuck in either bull or bear mode, imo)

The other theme being his unrelenting and highly transparent book talking.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: oda.krell on March 17, 2014, 06:42:20 PM
In the not so distant future bitcoin will be 900$
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.

 ;)

Spot on.

Also, "in the not so distant future" will probably be around late April/early May, so I also think Mat didn't pick the smartest moment to withdraw all funds. But let's see, if there's one consistent theme to his posts it's that he changes his opinions pretty quickly (nothing wrong with that, btw. better than being permanently stuck in either bull or bear mode, imo)

The other theme being his unrelenting and highly transparent book talking.

To be fair, he was one of the relatively few dissenting voices during the ~800 "stability" phase that warned (and I'm using the word "warn" loosely here -- more like "shouted without interrupt") that we'll go down further. Probably got quite a few ignores for that, undeservedly so.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: checkers6676 on March 17, 2014, 06:53:50 PM
the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: bassclef on March 17, 2014, 07:06:35 PM
In the not so distant future bitcoin will be 900$
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.

 ;)

Spot on.

Also, "in the not so distant future" will probably be around late April/early May, so I also think Mat didn't pick the smartest moment to withdraw all funds. But let's see, if there's one consistent theme to his posts it's that he changes his opinions pretty quickly (nothing wrong with that, btw. better than being permanently stuck in either bull or bear mode, imo)

The other theme being his unrelenting and highly transparent book talking.

To be fair, he was one of the relatively few dissenting voices during the ~800 "stability" phase that warned (and I'm using the word "warn" loosely here -- more like "shouted without interrupt") that we'll go down further. Probably got quite a few ignores for that, undeservedly so.

His coinage of the term "Age of the Jew" did it for me.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: wobber on March 17, 2014, 07:19:51 PM
the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.

Don't listen to him, listen to me. I do have in my possession a pretty reliable TA. It involves a single step and when you finish counting to 10, you'll be richer.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 17, 2014, 07:35:56 PM
the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.

You are going to simply have to prove that to me. Such a dramatic event will be etched in your mind so you should be able to tell us exactly when that happened and at what price range right out of the top of your head. I can only think of one time when I found myself sitting so blatantly on the wrong side of the trade basically due to being butt-hurt after losing my nerve on bounce from $380 and back then, (dec 19th), I never even knew what a MACD was, so I highly doubt that I would be offering up any TA.......so chances are, you are simply lying for dramatic effect?


Also, "in the not so distant future" will probably be around late April/early May, so I also think Mat didn't pick the smartest moment to withdraw all funds. But let's see, if there's one consistent theme to his posts it's that he changes his opinions pretty quickly (nothing wrong with that, btw. better than being permanently stuck in either bull or bear mode, imo)

Yeah....I change my mind all the time and reserve the right to always to do so. When I change it again no doubt I shall sound off on this forum. But my OP expresses my sentiment at the time being, a sentiment that has been building up for several days and a sentiment that I suspect is widespread and growing.

I have tended to 'shout' my opinions around the place because anyone suggesting that Bitcoin may go down is generally laughed out the forum. I am very new to watching any kind of market and early adopters, who really really should know better, laughed at me for selling after double top but whilst still in $1000 range. Can I really be blamed for getting a bit shouty and overbearing with the standard retard that inhabits this forum and is very much in the vocal majority, who have been yelling 'BUY N HODL' at new Bitcoin investors all the way down from $1200. My teeth are grinding already!


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: ineededausername on March 17, 2014, 08:38:21 PM
on this forum I've seen way too many people making bearish arguments for technical reasons alone. One constant in my experience has been that although these people are often correct, in the long term they lose when news about the fundamentals comes out and breaks their little Fibonacci patterns. we have the etf, SecondMarket, circle, and other large developments in the pipeline and I would be afraid to be completely in fiat.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Cassius on March 17, 2014, 09:08:29 PM
the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.

Don't listen to him, listen to me. I do have in my possession a pretty reliable TA. It involves a single step and when you finish counting to 10, you'll be richer.

Is it "Buy low, sell high"? That's always worked well for me.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Solarstorm75 on March 17, 2014, 09:25:49 PM
we have the etf, SecondMarket, circle, and other large developments in the pipeline and I would be afraid to be completely in fiat.

*LOL* Afraid?

How long does it take to buy back? Hm?

I'd be afraid of the scammers and fraudsters.

@MatTheCat
+1


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 17, 2014, 09:26:57 PM
Mat I am Bullish on Mondays, Bearish on Tuesday The Cat


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Solarstorm75 on March 17, 2014, 09:28:51 PM
Mat I am Bullish on Mondays, Bearish on Tuesday The Cat

This is day trading at it's best and completely fine. It's all about make huge profits.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Elwar on March 17, 2014, 09:33:57 PM
Mat I am Bullish on Mondays, Bearish on Tuesday The Cat

Someone got paid Friday and is waiting for his money to get to his exchange account.


For someone who knows anything about Bitcoin to think that the bank is the safest place for his money shows how serious he actually is.

And don't forget to declare all that money you just dumped into your bank account on your taxes.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 17, 2014, 09:34:35 PM
Mat I am Bullish on Mondays, Bearish on Tuesday The Cat

This is day trading at it's best and completely fine. It's all about make huge profits.

Day trading is day trading, making long term predictions is another pair of sleeves. ANd Matt screams one, then other each 5 minutes.

In fact, he, I can't be more humble than this, just lacks the balls, his are like peanuts and he'd rather not lose 100$ than make 5 000$. That's why he barely made any money from Bitcoin despite being around when it was at single digits, you really need to be a Special One (and I don't mean Mourinho type Special One) to manage that. And he is very, very frustrated about it, I can understand that though :D

I thought Scots are bit harder than this, damn Brave Heart :D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: eiskalt on March 17, 2014, 10:52:54 PM
Bitcoin is really looking weak ATM, across the board (MAs, Volume, Indicators, Downtrend still not broken).

So it seems likely, that Matīs call regarding BTC/USD is correct.

But maybe putting some of your USD into Litecoin could be worth a second thought...



Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Solarstorm75 on March 17, 2014, 11:55:00 PM
But maybe putting some of your USD into Litecoin could be worth a second thought...

+1


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 18, 2014, 12:14:51 AM
How long does it take to buy back? Hm?

1 day. It takes one day for me to shift funds from my EUR bank account back onto Bitstamp. But I doubt I will be in much of a hurry when I do put a decent amount of cash back on the exchange.


In fact, he, I can't be more humble than this, just lacks the balls, his are like peanuts and he'd rather not lose 100$ than make 5 000$. That's why he barely made any money from Bitcoin despite being around when it was at single digits, you really need to be a Special One (and I don't mean Mourinho type Special One) to manage that. And he is very, very frustrated about it, I can understand that though :D


How much did you make from the precious metals run up? Did you buy in early 2000's, or didn't you have the balls?

Me? I never had neither the cash or the investment mentality in the early 2000s. By 2010, I still lacked the investment mentality, but I did have the capital and I certainly bought into all the Silver Stacker and Gold Bug hype and fairy stories with big bad central banker arch villians n shit. Because I bought into all the flawed paradigms in much the same way as Bitcoin Nutter does, I failed to take profits at the top of the PMs markets, or even recognise that the tops were in and it was gonna be a long and painfully slow bearish consolidation period for the next 3 years.

Actually, it only in the last 3 months that I have began to learn how to think like an investor and my education has been frantically jumping onboard a parabolic Bitcoin juggernaut and actually making a good bit of money without having the slightest fucking clue about what I was doing or even how to read the simplest of chart indicators, and then listening to my gut instincts and jumping off with 90% profits still intact before this sucker went down. Any fool can make money in an expanding market. In a retracting market, by its very definition, most people lose money, so simply breaking even in a declining market means that someone is doing better than your average Joe. And actually, I continued to make money, although knowhere near as much as during the bull run.

In my limited experience, being a good trader is as much about having good instinct as anything else. Anyone can draw any set of lines on any given financial chart and start making bullish/bearish cases left right and centre. It is the instinct of the individual that sorts out the grain from the chaff. I have discovered that my instinct towards Bitcoin has generally served me very well, even if my reasoning and logic often has not. I have been bearish pretty much since the eve of the big tumble down, with little bullish stints here n there in between. My most recent bullish sentiments occurred right in aftermath of $400 crash. I knew I was bullish but my logic told me that surely there needed to be a retest of the lows, but it never did come to pass, yet. So one whale came to market and panic bought the market up to $710. In the $600 ranging aftermath of that, I remained 'bullish' in theory but with a creeping sense of doubt which has grown to represent my current Bitcoin instinctive sentiment. Holding Bitcoin long, from here into the medium term is for me, simply going to be a high risk means of slowly losing purchasing power. Leveraged long/short trading of Bitcoin is also out of the question in a stagnant market, with any significant movement likely to be coming from exchange insiders looking to squeeze out margin traders' USD into their pockets, as we have arguably witnessed over the past week or so.

Bitcoin for now, is a must leave asset class and failing some sort of isolated economic crisis that has a certain proportion of the victim populace rushing into Bitcoin in order to shift funds around, is likely to remain so for some time yet, at least as far as Bitcoin time frames are concerned.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: podyx on March 18, 2014, 12:30:49 AM
im actually considering we gonna see a 2011 bear market if we dont go up soon enough


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: arepo on March 18, 2014, 12:33:04 AM
im actually considering we gonna see a 2011 bear market if we dont go up soon enough

don't fall prey to this false dichotomy -- protracted, sideways consolidation is always an option.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: amencon on March 18, 2014, 12:56:51 AM
In the not so distant future bitcoin will be 900$
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.

 ;)

Spot on.

Also, "in the not so distant future" will probably be around late April/early May, so I also think Mat didn't pick the smartest moment to withdraw all funds. But let's see, if there's one consistent theme to his posts it's that he changes his opinions pretty quickly (nothing wrong with that, btw. better than being permanently stuck in either bull or bear mode, imo)

The other theme being his unrelenting and highly transparent book talking.

To be fair, he was one of the relatively few dissenting voices during the ~800 "stability" phase that warned (and I'm using the word "warn" loosely here -- more like "shouted without interrupt") that we'll go down further. Probably got quite a few ignores for that, undeservedly so.
Right or wrong, frankly, I don't like his posts because he uses the word "nutter", ugh.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: cosmofly on March 18, 2014, 01:05:13 AM
good move mat


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: TERA on March 18, 2014, 01:10:32 AM
https://i.imgur.com/gb6T5Fm.jpg


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 02:30:23 AM
Quote
How much did you make from the precious metals run up?

None, but I made hundreds of thousands from Bitcoin and crypto :o I couldn't give a shit about precious metals and their lack of wild pumps and crashes. I'm "gold digger", fortune seeker, I'll get rich or die trying. It's the opportunity of my life and I won't live my life regretting for missing it because I lacked the balls, I don't want to do mistake you did ;) I won't stop when I am one step from saying - "I fucking did it".

And if I fail, I can always be slave of some big guy just like I'd be if I'd quit now, buy myself a house and be happy with just that. Fuck that, I'm perfectly fine renting my apartment, I'll buy The House or I'll rent for life :D
I just sent 50$ of charity payment to the family in the need here where I live and I feel like I'm on the moon. I can't wait to be able to send 500$ to such cases with same ease, just that is worth of all of the risk I made and I am making.

Even if Bitcoin goes down to 100$ I'll still have enough money to pay bills for next 3-4 years. And I'm fairly sure I'd double my Bitcoins till then and make it 7-8. In that time all kind of things could happen :)

But seriously, people who are scared to death to lose few thousands are not for this game. It's day job for them, happy calm nights with their wife and kids. Nothing wrong with that though, I was raised in a family where just enough was enough and there were times when I wished I could live that way but luckily I twatted that thought fast each time  :D

There's no easier way to make money than Bitcoin/crypto is. If people are scared to shit to lose some money here than they're not made for it. There are loads of alts that are certain 3-5 bagger in next few weeks/months at most if bought right now and there's no chance Bitcoin will go down as much. Yeah, they might go even more down but they'll be back just like they always do. It's a free money baby, how the fuck could someone be scared from such conditions? :D
I know how, by being fancy TA slave chart bragger and not looking further than narrow and boring btc vs usd price ;)

So good luck, it's your money and you're free to do with it what you want. In all honestly, I won't miss you a bit (here is the hoping you'll fuck off now and stop posting completely :p ), you're epitomizing the mentality I hate to guts  ;D
You're like those football fans that moan from 1st to 90th minute of the game, no matter what the score is :D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: TERA on March 18, 2014, 03:19:06 AM
I couldn't decide whether or not I wanted to stay in the btc markets or withdraw everything in fiat, so I made a compromise: I made so many profitable trades in the past 2 months that I doubled, or "cloned" my funds (in terms of fiat) value. Now I've taken one clone and left it in the btc market and taken the other clone and withdrawn it in fiat. So I can pretend like nothing happened and I can have my cake and eat it too. Here is how my funds are currently diversified:

-----the 50% btc:
15% in cold storage
10% on altcoin exchanges
     (So at least half of my btc funds are long at all times, unless I short on bfx)
25% on bfx to trade btc/usd charts
  
-----the 50% fiat:
15% to pay my taxes
5% in precious metals
15% in cash reserves in a bank account - enough to pay living expenses for a year and cover the unexpected
15% in a brokerage account to daytrade forex, futures/commidities, options, and stocks

Hopefully with the brokerage account I will be able to take out most of my trading urges there (with all the gigantic volumes) and make money to put IN to the btc markets rather than constantly sucking money out of the btc markets like people are accusing me of.

You guys make everything seem so black and white. You don't have to do that. You can split your funds up and do both. Diversification is good.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 18, 2014, 03:24:27 AM
But seriously, people who are scared to death to lose few thousands are not for this game. It's day job for them, happy calm nights with their wife and kids. Nothing wrong with that though, I was raised in a family where just enough was enough and there were times when I wished I could live that way but luckily I twatted that thought fast each time  :D

You talk a fkn good game. But if your posts and opinions before 'The Event' in anyway resemble your trading decisions, then I am surprised that you aren't sucking sailors dick in order to fund your Bitstamp account. Not once have you ever made any comment that has proven either insightful or turned out to be true, yet you are never in short supply of posts bamming on about how much profit you made on your latest trades (even though market just went in totally opposite direction of the way you were banging on that it was going to go). Go on, prove me wrong. Give me a link to just one single fucking post that you made, where you predicted anything that Bitcoin did in advance.

Facts are, if you are not a complete bullshitter, like so many around this place you are just a below average intelligence Jimmy Shit for Brains that got lucky. You invested a couple of K in Bitcoin at the right time, as I or anyone else who knew about Bitcoin in 2011 could have done (but didn't and/or ended up spending it all), and you got lucky big style. Good for you. You are rich. But being rich doesn't stop you being a fucking idiot. A talentless waste of space, good for nothing except for blowing the same old tired tunes out your trumpet of how successful you have been.

If in real life, you are anything like the tone of your posts suggest, you are well overdue a take down and it will happen, it happens to everyone that isn't capable of smarting up before the inevitable occurs.

You guys make everything seem so black and white. You don't have to do that. You can split your funds up and do both. Diversification is good.

Most people aren't actually traders, me included, and Bitcoin is the first thing they have ever actually traded. I shall start to look at other trading games to play with my capital as Bitcoin is going to continue to suck, for possibly quite some time to come.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 03:39:40 AM
Not that I need to do it but just to make you shut up. I don't give a shit about posting my calls usually, I trade for myself and my wallet, not for glory and to be found right you fucker. I don't open drama threads to find confirmations and support for my pants shitting like you do :D

There's more stuff in some wallets and smaller exchanges.. I took a bit of hit on some alts recently, started buying too early some of them but never mind, most of them except maybe WorldCoin will be the megaprofit at some time, though I'll probably make WDC average better too so might make some change there too.

And that's all with 1000$ investment and never ever drawing a single fucking chart as I don't know the shit about that fancy bullshit. Now fuck off :D

https://fbcdn-sphotos-e-a.akamaihd.net/hphotos-ak-ash3/t1/10002921_709823082411990_497659272_n.jpg

https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-ash3/t1.0-9/1896864_709823129078652_2014899851_n.jpg

https://scontent-a-vie.xx.fbcdn.net/hphotos-ash3/t31.0-8/1421067_709823149078650_479510892_o.jpg

Don't want to post Cryptsy portfolio, only balance as I don't want you to know what coins I am buying there :D

https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-prn2/t31/1799927_709823159078649_1542342871_o.jpg

https://scontent-b-vie.xx.fbcdn.net/hphotos-prn2/t1.0-9/10001308_709824175745214_375385305_n.jpg


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: TERA on March 18, 2014, 03:49:42 AM
That's a lot of funds to trust with RealSolid...


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 03:51:49 AM
That's a lot of funds to trust with RealSolid...

I trust him currently more than any other exchange, I'm actually moving stuff from BTC-e there as soon as I buy it

And we hate each other's guts heavily personally.

He is cunt but he won't do any bad things with McxNow, it's matter of his pride now.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 18, 2014, 03:56:22 AM

And that's all with 1000$ investment and never ever drawing a single fucking chart as I don't know the shit about that fancy bullshit. Now fuck off :D


Two Things.

1) Seems you can't resist the chance to show the world how much money you made.....which it turns out isn't very much, about what I could earn in a year if I really wanted to bust my ass and spend half my time away from home. I thought you said you made hundreds of thousands? If you had done, you are such a fucking bampot I am utterly convinced that you would be showing the rest of it off

2) See what I highlighted. That tells me everything that I need to know, yet already suspected about you. Did you have learning difficulties at school? Was it dyslexia? Didn't your parents ever encourage you to learn? Too much junk food fucked with your brain development? No, you aren't very bright and you know it, but just look at that fantastic collection of shitalt-coins that you have! Go, buy some moaaaar whilst they are all still so cheap...please!?

LOL. Wisen the fuck up or you will end up losing that paltry little pile of capital that you have.



Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 03:58:54 AM
Cry me a river Matt, of course I can't resist to put it in front of your nose after all yours "I shat my pants and you should all do if you're not idiots" big talk here. And you actually asked about it  ;D

It's usually twattish to do what I've done 3 posts ago, that's what is expected from rpietilla's and alikes but in your case, I enjoyed it as I can't stand your wanna be smart arse personality you are presenting here for months :D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 18, 2014, 04:10:58 AM
It's usually twattish to do what I've done 3 posts ago, that's what is expected from rpietilla's and alikes but in your case, I enjoyed it as I can't stand your wanna be smart arse personality you are presenting here for months :D

u are a fucking grade A twat so nothing out of character there.

Btw, I was wrong, I never seen the 230 BTC equivalent of shitalt-coins value and I estimated your total worth at just about 90K USD, which would mean 6-8 months of the year on seismic vessels for me, and I dont like to work that much anyhow, so the fact that you actually have around 4 times that would mean around 5-6 years of actual earnings for me.

So there you go. You have a ball of capital several times the size of a very good yearly salary that most folks would need to go out and get an edumacation for. But none of that complicated fancy bullshit for seleme!

Now please, go and buy more alt-coins. They are the future. All of them. Man, you will be so rich you will be laughing in da faces of all us wage slaves! And do think, you never needed a single braincell for any of it, just a pair of balls! So go on, polish up them big balls of yours and get buying up more alt-coins so u can have bigger balls than ever before.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 04:13:21 AM
Of course I'll buy more alts, buying alts is what brought me here when most thought they're done. Buying blood is where money is Matt, there's no much money when everything tastes as chocolate :D

I love you too  ;D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 18, 2014, 04:15:25 AM
Of course I'll buy more alts, buying alts is what brought me here when most thought they're done. Buying blood is where money is Matt, there's no much money when everything tastes as chocolate :D

I love you too  ;D

Fucking music to my ears mate. Just you keep right on track. Don't let us nay-sayers get in the way of you and infinite alt-coin profits.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 04:16:39 AM
Of course I'll buy more alts, buying alts is what brought me here when most thought they're done. Buying blood is where money is Matt, there's no much money when everything tastes as chocolate :D

I love you too  ;D

Fucking music to my ears mate. Just you keep right on track. Don't let us nay-sayers get in the way of you and infinite alt-coin profits.

You never did, what makes you think you might now?  ;D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: lyth0s on March 18, 2014, 04:27:45 AM

Why am I announcing this in speculation?


Because you're permanent bear


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Tirapon on March 18, 2014, 04:30:57 AM
@MatTheCat & Seleme

You guys are worse than Obama and Putin.

 :-*

EDIT: Seleme, I back your sentiment. BTC FTW!



Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: dropt on March 18, 2014, 04:32:00 AM
<snip>

You're such a fucking tool.  Shut up already.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 04:33:35 AM
@MatTheCat & Seleme

You guys are worse than Obama and Putin.

 :-*



It reads - Putin, stop doing that or you'll face consequences". "What exactly?", "I'm gonna block you on the Facebook" :D

https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-ash3/t31/p526x296/1522948_709838022410496_1132423806_o.jpg


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: traderCJ on March 18, 2014, 04:45:41 AM
Not that I need to do it but just to make you shut up. I don't give a shit about posting my calls usually, I trade for myself and my wallet, not for glory and to be found right you fucker. I don't open drama threads to find confirmations and support for my pants shitting like you do :D

Rule 1: Don't brag unless you've got something worth bragging about.  Christ a guy makes a few $100k in *coins and he thinks he's Gordon Gecko.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 04:51:10 AM
Not that I need to do it but just to make you shut up. I don't give a shit about posting my calls usually, I trade for myself and my wallet, not for glory and to be found right you fucker. I don't open drama threads to find confirmations and support for my pants shitting like you do :D

Rule 1: Don't brag unless you've got something worth bragging about.  Christ a guy makes a few $100k in *coins and he thinks he's Gordon Gecko.

Rule 2: it's not your business when I'll "brag" or not.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: traderCJ on March 18, 2014, 04:54:09 AM
Not that I need to do it but just to make you shut up. I don't give a shit about posting my calls usually, I trade for myself and my wallet, not for glory and to be found right you fucker. I don't open drama threads to find confirmations and support for my pants shitting like you do :D

Rule 1: Don't brag unless you've got something worth bragging about.  Christ a guy makes a few $100k in *coins and he thinks he's Gordon Gecko.

Rule 2: it's not your business when I'll "brag" or not.

Of course it is, you posted to an internet forum, dumbass.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 04:56:04 AM
Not that I need to do it but just to make you shut up. I don't give a shit about posting my calls usually, I trade for myself and my wallet, not for glory and to be found right you fucker. I don't open drama threads to find confirmations and support for my pants shitting like you do :D

Rule 1: Don't brag unless you've got something worth bragging about.  Christ a guy makes a few $100k in *coins and he thinks he's Gordon Gecko.

Rule 2: it's not your business when I'll "brag" or not.

Of course it is, you posted to an internet forum, dumbass.

In a conversation with another poster who basically asked for it and that's not your business. Now kindly fuck off, thanks :D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 18, 2014, 05:02:34 AM
As usual I take the long term view. Patiently waiting for mat to rediscover his lost interest in bitcoin at 20k so I can tell him what a dumbass he is for not holding when he had the chance. Again.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: traderCJ on March 18, 2014, 05:06:09 AM
Not that I need to do it but just to make you shut up. I don't give a shit about posting my calls usually, I trade for myself and my wallet, not for glory and to be found right you fucker. I don't open drama threads to find confirmations and support for my pants shitting like you do :D

Rule 1: Don't brag unless you've got something worth bragging about.  Christ a guy makes a few $100k in *coins and he thinks he's Gordon Gecko.

Rule 2: it's not your business when I'll "brag" or not.

Of course it is, you posted to an internet forum, dumbass.

In a conversation with another poster who basically asked for it and that's not your business. Now kindly fuck off, thanks :D

If you want a private conversation, use the PM feature.  That way you two can fuck off all you want in privacy.  Cheers.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 05:12:41 AM
TraderCJ, one good thing about Bitcointalk is that you can fuck whenever you want  ;D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: traderCJ on March 18, 2014, 05:15:51 AM
TraderCJ, one good thing about Bitcointalk is that you can fuck whenever you want  ;D

:P  ;D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: bassclef on March 18, 2014, 05:21:21 AM
TraderCJ, one good thing about Bitcointalk is that you can fuck whenever you want  ;D

Slightly off-topic (and nothing personal), but a surefire way to tell who non-Americans/English are is how casually they throw around the f word. Unless you know the person well or are extraordinarily angry about something, it's a huge sign of disrespect. I feel like it's the least understood English curse word--it has so many functions yet it's very taboo in colloquial speech.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: lyth0s on March 18, 2014, 05:24:15 AM
TraderCJ, one good thing about Bitcointalk is that you can fuck whenever you want  ;D

Slightly off-topic (and nothing personal), but a surefire way to tell who non-Americans/English are is how casually they throw around the f word. Unless you know the person well or are extraordinarily angry about something, it's a huge sign of disrespect. I feel like it's the least understood English curse word--it has so many functions yet it's very taboo in colloquial speech.

Or a way to determine if someone lives in a big city vs the rural midwest is how conservative they are with their profanity :P


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 05:24:20 AM
TraderCJ, one good thing about Bitcointalk is that you can fuck whenever you want  ;D

Slightly off-topic (and nothing personal), but a surefire way to tell who non-Americans/English are is how casually they throw around the f word. Unless you know the person well or are extraordinarily angry about something, it's a huge sign of disrespect. I feel like it's the least understood English curse word--it has so many functions yet it's very taboo in colloquial speech.

You surely haven't had conversations with lot of Brittish people. The F world is one they use for breakfast, lunch and dinner. I actually use it way too much since I got myself into English football forums and don't feel particularly proud on that  :-\. And don't say it's football fans, everyone there is football fan.

We swear a lot here on Balkan but Brittish are champions in that department, they can barely make a sentence without swearing in it.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: bassclef on March 18, 2014, 05:30:21 AM
TraderCJ, one good thing about Bitcointalk is that you can fuck whenever you want  ;D

Slightly off-topic (and nothing personal), but a surefire way to tell who non-Americans/English are is how casually they throw around the f word. Unless you know the person well or are extraordinarily angry about something, it's a huge sign of disrespect. I feel like it's the least understood English curse word--it has so many functions yet it's very taboo in colloquial speech.

You surely haven't had conversations with lot of Brittish people. The F world is one they use for breakfast, lunch and dinner. I actually use it way too much since I got myself into English football forums and don't feel particularly proud on that  :-\. And don't say it's football fans, everyone there is football fan.

We swear a lot here on Balkan but Brittish are champions in that department.

I suppose it's different everywhere, which is interesting. Admittedly I'm not much of a sports guy. In Michigan we don't use it much (except when we're drunk with close friends) :D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: kooke on March 18, 2014, 05:33:05 AM
Why are you still holding feathercoins? That were Pumped and dumped long time ago.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: arepo on March 18, 2014, 05:37:53 AM
Why are you still holding feathercoins? That were Pumped and dumped long time ago.

in order for pump&dumps to work, there've got to be bagholders ;)


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 05:42:56 AM
Why are you still holding feathercoins? That were Pumped and dumped long time ago.

Because I just bought them and made profit whenever I bought them at current prices.

They'll be double of this in couple of weeks, triple around next Bitcoin ATH.

I'll buy more if it dips into 20s. There is nothing better than being bagholder buying at bottom without need of banging my head to the wall drawing the fancy chart lines thinking it's some art :D There's no such things with big volume btc-e alts, you trade price range and don't give a flying one about triangles and stuff.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: lyth0s on March 18, 2014, 05:47:48 AM
TraderCJ, one good thing about Bitcointalk is that you can fuck whenever you want  ;D

Slightly off-topic (and nothing personal), but a surefire way to tell who non-Americans/English are is how casually they throw around the f word. Unless you know the person well or are extraordinarily angry about something, it's a huge sign of disrespect. I feel like it's the least understood English curse word--it has so many functions yet it's very taboo in colloquial speech.

You surely haven't had conversations with lot of Brittish people. The F world is one they use for breakfast, lunch and dinner. I actually use it way too much since I got myself into English football forums and don't feel particularly proud on that  :-\. And don't say it's football fans, everyone there is football fan.

We swear a lot here on Balkan but Brittish are champions in that department.

I suppose it's different everywhere, which is interesting. Admittedly I'm not much of a sports guy. In Michigan we don't use it much (except when we're drunk with close friends) :D

So I was right with my mid-west comment :)

I personally don't like to use it much either, its simply to harsh and automatically puts everyone on the defensive. No one reconsiders their viewpoint on a topic with someone cursing at them


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: seleme on March 18, 2014, 05:51:36 AM
The only thing Brittish use more than f word is name calling. They are artist in that. I actually never heard for twat word until I started to hang out at their forums. Now I use it in lot of contexts.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: paulifa123 on March 18, 2014, 08:37:10 AM
Seleme,

You need to stop correlating the English with excessive swearing. Low class, Chav Scum do swear and behave in the manner you suggest (I would include matthecat in this category :) ) Quality middle class English types know when it is appropriate to swear and use it sparingly and in the correct context....


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Buffer Overflow on March 18, 2014, 09:01:29 AM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.



Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: TERA on March 18, 2014, 09:08:29 AM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.


If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 18, 2014, 09:12:31 AM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.


If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.
Sure. Now. There is nothing stopping localbitcoins from becoming thee exchange tho. And I hear people are working on android wallets with built in localbitcoins functionality.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: TERA on March 18, 2014, 09:26:49 AM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.


If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.
Sure. Now. There is nothing stopping localbitcoins from becoming thee exchange tho. And I hear people are working on android wallets with built in localbitcoins functionality.
Yes, it could theoretically work, if everyone who previously used exchanges were suddenly willing to walk around with suitcases full of $100,000s of cash and make exchanges at Starbucks, while avoiding getting arrested (for carrying/exchanging that much cash). However, I don't think would be the case. Sure, there will be some activity. There might be some increase in localbtc users, but the USD volume would likely be NOTHING compared to the volume previously at exchanges. It would not be enough to support current price levels, and price would fall.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: cosmofly on March 18, 2014, 09:59:58 AM
Why are you still holding feathercoins? That were Pumped and dumped long time ago.

in order for pump&dumps to work, there've got to be bagholders ;)

feathercoin = dead

might as well hold something less pathetic like Dogecoin


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Buffer Overflow on March 18, 2014, 11:15:18 AM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.


If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

The actual bail-in should prevent the system collapse, at the expense of depositors.

The only question left is "which country is next?"


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: FeedbackLoop on March 18, 2014, 11:27:22 AM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

It's safer, but certainly very very far from safe. Bank bail-ins are just around the corner.


If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

The actual bail-in should prevent the system collapse, at the expense of depositors.

The only question left is "which country is next?"


Though a bail-in is deflationary thus a large enough or multiple bail ins are dangerous for fiat. Bailing out with large amounts of government debt is better.



Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: stylin on March 18, 2014, 12:02:46 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.


Doubt it. If fiat currency collapses or hyperinflates, people may start wanting to use BTC to actually buy things, that is start using it as a currency. BTC price in USD will not collapse, it will just become irrelevant as hyperinflation makes it a stupidly high number and people don't bother trading in their $100,000 for .001BTC :P BTC will become "priced" more in food, commodities


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 18, 2014, 12:24:29 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.


Doubt it. If fiat currency collapses or hyperinflates, people may start wanting to use BTC to actually buy things, that is start using it as a currency. BTC price in USD will not collapse, it will just become irrelevant as hyperinflation makes it a stupidly high number and people don't bother trading in their $100,000 for .001BTC :P BTC will become "priced" more in food, commodities
If the dollar becomes worth a hundreth of what it is now the price of bitcoin in dollar will increase a hundred times. The value of bitcoin is in purchasing power, the dollar price is just a middleman to make your simple monkey brain able to comprehend it.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 18, 2014, 01:53:24 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!

and further to my attempt to take half my funds out of Bitstamp, I got better acquainted with their KYC routine today. 8 questions, one of them in particular I am pretty sure that they have absolutely no right to ask. I have opted to tell them to mind their own business when they asked me for proof of earnings. If they start stamping their feet and witholding my fiat, I shall convert the lot to BTC, cash out on LocalBitcoin, and in the absence of a reliable and trustworthy exchange, that will be me without any route into Bitcoin investment. Me and how many more other people who might be feeling the same way? Are Bitstamp going the way of MtGox? Are these KYC routines a transaction delaying mechanism? If so, then Bitcoin is fkd.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 18, 2014, 01:55:47 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Be quiet! You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!

and further to my attempt to take half my funds out of Bitstamp, I got better acquainted with their KYC routine today. 8 questions, one of them in particular I am pretty sure that they have absolutely no right to ask. I have opted to tell them to mind their own business when they asked me for proof of earnings. If they start stamping their feet and witholding my fiat, I shall convert the lot to BTC, cash out on LocalBitcoin, and in the absence of a reliable and trustworthy exchange, that will be me without any route into Bitcoin investment. Are Bitstamp going the way of MtGox? Are these KYC routines a transaction delaying mechanism? If so, then Bitcoin is fkd.
Kraken has verification levels specifically to avoid having to ask nosy questions about peoples private affairs. You deal in euro, maybe give them a try?


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: igorr on March 18, 2014, 04:31:10 PM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.

Why am I announcing this in speculation?

Because I suspect that many other traders or investors looking for good entry for longer term investment are going to be doing the same thing right now. Lets face it, Bitcoin isn't going to be doing anything much, anytime soon other than trend and grind, predominantly in a downward direction. I feel it, you all feel it, the hackers with thousands and thousands of stolen coins feel it, so why risk having tens of thousands of USD sitting in some exchange with each of it's feet planted in different countries jurisdictions with still lots of uncertainty shrouding security of Bitcoin exchanges, (yes, even Bitstamp)?

I have this apathetic sentiment towards Bitcoin as do lots of other Bitcoin investors, which kind of adds to the snowballing effect of bearish apathy.

I am holding zero Bitcoin. I still have an amount of Fiat on exchange, some of which will be turned back into GBP via BTC and LocalBitcoins, with a small amount left on exchange, 'just in case'. But the reality is that I don't expect any of my 'flash crash' buy-ins to be fulfilled, at least not until Bitcoin is trending in these sort of ranges anyhow, and I don't need preset buy-in tranches to buy Bitcoins in ranges where I will have all the time in the world to decide on whether to buy or not. Sure, there will still be swings in both directions that I could take advantage off, but will they really be worth the hassles and risks?

That is my sentiment and suspect it is widespread and growing. We were all waiting on the spectacular bottom to occur, to get our buy-ins, and then for Bitcoin to go shooting way back up to the moon but with that one day of Ukraine banking system panic put to one side, things aren't going to work out quite as simple as that. Indeed, I have seen convincing Elliot Wave analysis suggest that the bottom needs to be retested (and according to fibbonacci time ratio principles it aint happening anytime soon), or indeed that the bottom isn't even yet in from the post $10-$1200 bubble crash.

 ;D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: inca on March 18, 2014, 05:38:12 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

<snip>

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!

<snip>
Me and how many more other people who might be feeling the same way?
Are Bitstamp going the way of MtGox?
Are these KYC routines a transaction delaying mechanism? If so, then Bitcoin is fkd.

Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse? Of course you don't.

Do you really believe Bitstamp is insolvent? No of course you dont. Manipulative trash as usual!


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 18, 2014, 05:42:45 PM
Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse? Of course you don't.

Do you really believe Bitstamp is insolvent? No of course you dont. Manipulative trash as usual!

Tons of Bitcoin Nutters hold beliefs about Bitcoin and its relation to the financial world that are right down this alley.

Try actually reading through some of the opinions on here before opening your retard denialist bag holder mouth, you grade A holder of $900+ Bitcoins you!


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 18, 2014, 05:45:29 PM
Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse?
I am, only it is not against the dollar but against the entire fiat economy collapsing. Other circles on the internets, equally as nerdy as this one, see it coming around 2020.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Cassius on March 18, 2014, 06:06:22 PM
Seleme,

You need to stop correlating the English with excessive swearing. Low class, Chav Scum do swear and behave in the manner you suggest (I would include matthecat in this category :) ) Quality middle class English types know when it is appropriate to swear and use it sparingly and in the correct context....

Absolutely right.
They will also use different terms to reflect their superior upbringing. "Bloody hell". "Arsewit". And so forth.
"Strewth, guvnor" and "Lawks a mercy" might be appropriate to the lower classes who know their place.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: inca on March 18, 2014, 06:12:16 PM
Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse?
I am, only it is not against the dollar but against the entire fiat economy collapsing. Other circles on the internets, equally as nerdy as this one, see it coming around 2020.

You are taking quite the long view there ibian! By then at least crypto will either have disappeared under the waves or emerged fully.

Matthecat: retard denialist $900 bag holder?

I did most of my buying in the march/april runup last year, held, bought more in november held, and will continue to trickle buy a few each month as a relatively small speculative position in a portfolio of assets. I hold because as a punt bitcoin seems worth a shot and may return a few 100% over the next 2-3 years.

You have apparently been on the right side of the market once or twice it seems. But buying in and out like a epileptic means you are likely to end up with precisely the outcome 90% of traders achieve, especially if you continue to use leverage. You are obviously intelligent but it is hard to take you remotely seriously with these pathetic manipulative threads. You come across as a bit of juvenile prick to be frank . Anyway, good luck to you!


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: fcmatt on March 18, 2014, 07:02:08 PM
I just wonder how many users here are diversified into other investments, have fully funded their IRAs, outright own their home or cars (meaning pay off loans early, i realize the home is harder), paid off their college loans faster then the bare minimum, pay off credit card debt at the end of the month in full, and otherwise make good choices about money.

Or do we have a lot of younger people who think bitcoin is their path to wealth and that is all they have combined with negative aspects of things I mention above.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: spazzdla on March 18, 2014, 07:29:54 PM
Do you really think anyone reading this forum is speculatively holding bitcoin as a hedge against USD collapse?
I am, only it is not against the dollar but against the entire fiat economy collapsing. Other circles on the internets, equally as nerdy as this one, see it coming around 2020.

^

I am 100% against a privately controlled monetary system and frational banking.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: spazzdla on March 18, 2014, 07:30:48 PM
I just wonder how many users here are diversified into other investments, have fully funded their IRAs, outright own their home or cars (meaning pay off loans early, i realize the home is harder), paid off their college loans faster then the bare minimum, pay off credit card debt at the end of the month in full, and otherwise make good choices about money.

Or do we have a lot of younger people who think bitcoin is their path to wealth and that is all they have combined with negative aspects of things I mention above.

I own my car, I have zero debts, I own a lengthy supply of food, I own gold and silver, I own bitcoins.

Debt is the devil.. that is all.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: John999 on March 19, 2014, 04:19:38 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!

and further to my attempt to take half my funds out of Bitstamp, I got better acquainted with their KYC routine today. 8 questions, one of them in particular I am pretty sure that they have absolutely no right to ask. I have opted to tell them to mind their own business when they asked me for proof of earnings. If they start stamping their feet and witholding my fiat, I shall convert the lot to BTC, cash out on LocalBitcoin, and in the absence of a reliable and trustworthy exchange, that will be me without any route into Bitcoin investment. Me and how many more other people who might be feeling the same way? Are Bitstamp going the way of MtGox? Are these KYC routines a transaction delaying mechanism? If so, then Bitcoin is fkd.

Did you get your funds from bitstamp?


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: wachtwoord on March 19, 2014, 04:32:36 PM
If you consider your European bank account save you can't have much to begin with.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 19, 2014, 05:51:50 PM
Did you get your funds from bitstamp?

Ah, erm........ :-\

No, I have not. They want me to prove from where I got my money from to begin with, before they give me my money back. Money which they had no problems accepting in the first instance. I told them that they have no right to even ask this information, let alone ask for personal documents proving where I get my money from. The case is ongoing but I started out thinking I would withdraw around half of what I have on Bitstamp. I think now I might have to withdraw everything one way or the other. This whole Bitstamp KYC routine reeks of rancid delaying tactic pish to me.

If Bitstamp, the main USD cash out exchange, is also running a fractional reserve Bitcoin exchange as I strongly suspect BTC-e and Bitfinex are, and are in fact insolvent and have started on the same path as Gox, then the whole Bitcoin system is in a lot of trouble. This would entail a whole lot more people getting burned and the price discovery of Bitcoin as defined by exchange rates, rendered totally irrelevant.

If you consider your European bank account save you can't have much to begin with.

Go regurgitate me some more dogma, u fkn parrot.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Cassius on March 19, 2014, 05:58:15 PM
Did you get your funds from bitstamp?

Ah, erm........ :-\

No, I have not. They want me to prove from where I got my money from to begin with, before they give me my money back. Money which they had no problems accepting in the first instance. I told them that they have no right to even ask this information, let alone ask for personal documents proving where I get my money from. The case is ongoing but I started out thinking I would withdraw around half of what I have on Bitstamp. I think now I might have to withdraw everything one way or the other. This whole Bitstamp KYC routine reeks of rancid delaying tactic pish to me.

If Bitstamp, the main USD cash out exchange, is also running a fractional reserve Bitcoin exchange as I strongly suspect BTC-e and Bitfinex are, and are in fact insolvent and have started on the same path as Gox, then the whole Bitcoin system is in a lot of trouble. This would entail a whole lot more people getting burned and the price discovery of Bitcoin as defined by exchange rates, rendered totally irrelevant.

If you consider your European bank account save you can't have much to begin with.

Go regurgitate me some more dogma, u fkn parrot.

I withdrew last night, SEPA transfer, was asked no questions (other than my BIC/IBAN, which seemed fair enough) and got an email that the transfer had gone ahead this morning. It wasn't much money (maybe they ask questions for larger amounts?) but it was pleasingly straightforward.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 19, 2014, 06:03:27 PM
I withdrew last night, SEPA transfer, was asked no questions (other than my BIC/IBAN, which seemed fair enough) and got an email that the transfer had gone ahead this morning. It wasn't much money (maybe they ask questions for larger amounts?) but it was pleasingly straightforward.

I have withdrawn small amounts just to see how process ran and both times it went smoothly.

This time however I asked for a 5 figure sum and this time the transaction is proving problematic although it is going back to the exact same bank account that paid it in (and much more besides) to begin with. They have all the details that they need from me. This transaction really shouldn't be a problem for them, yet it seems that it is.

Capital flight underway from Bitstamp? The BID side of the order book certainly seems to have shrunk quite a bit recently.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Cassius on March 19, 2014, 06:11:27 PM
I withdrew last night, SEPA transfer, was asked no questions (other than my BIC/IBAN, which seemed fair enough) and got an email that the transfer had gone ahead this morning. It wasn't much money (maybe they ask questions for larger amounts?) but it was pleasingly straightforward.

I have withdrawn small amounts just to see how process ran and both times it went smoothly.

This time however I asked for a 5 figure sum and this time the transaction is proving problematic although it is going back to the exact same bank account that paid it in (and much more besides) to begin with. They have all the details that they need from me. This transaction really shouldn't be a problem for them, yet it seems that it is.

Capital flight underway from Bitstamp? The BID side of the order book certainly seems to have shrunk quite a bit recently.

UK banks are required to notify authorities (can't remember who) when Ģ10k+ transfers are made. Presumably the same elsewhere?


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 19, 2014, 06:44:14 PM
UK banks are required to notify authorities (can't remember who) when Ģ10k+ transfers are made. Presumably the same elsewhere?

They can notify whoever they want as far as I am concerned, as long as they don't go holding up the transaction.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: bitrider on March 19, 2014, 07:04:22 PM
the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.

Can I really be blamed for getting a bit shouty and overbearing with the standard retard that inhabits this forum and is very much in the vocal majority, who have been yelling 'BUY N HODL' at new Bitcoin investors all the way down from $1200. My teeth are grinding already!

Matt, I admire your dedication to this forum and sharing your opinions freely. However, you are confusing "yelling" with impact and influence. Respectfully, you are probably not being very helpful to anyone.

Those of us who have been around for a awhile and understand what is going on, are not going to change our mind by you yelling louder or more frequently. Our minds are influenced by respectful discussion and hard data. And your chaotic pronouncements and short-term flip flopping are certainly not helping the noobs here (probably not helping your BTC holdings either), who really need a better understanding of the bigger forces at work in the market - and the long-term view - which I think you actually understand. I doubt your constant yelling and bludgening is persuading many of them either. You appear smart and energetic but not wise. Stop talking and listen for the deeper patterns and cycles. Use your energy to help your brothers see more clearly - what you are already seeing- and help them to think carefully, rather than act in haste. That includes you. Stillness, focus and clarity is the root of power - in all things.

I completely agree that leaving large amounts of fiat (or bitcoins) on the exchanges is a bad idea. The bulk of your coins should always be in cold storage, and the investing fiat held in "solid" banks. However I recommend you develop a trading and investing plan that is based on your best analysis of the mid and long-term potential - and scenario planning for various eventualities.  Then you can move fiat to the exchanges in planned tranches as the market guides you. Minimizing risks at every step.

Right now, I expect we will test mid 500's and perhaps lower (but I think the odds are pretty low we go back to 450), and I have fiat available for when that happens. I expect - as many here do - that we will see another 2-3 months of relative stabilization (in our current ballpark) before any major moves north. And I actually think this (600) is pretty good current buy price for getting more heavily invested. But as always I am prepared for any eventuality and will respond based on my investment plan.

Good hunting.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: sgbett on March 20, 2014, 02:12:23 PM
steady on son, this is no time for rational discourse! there is a conspiracy afoot, and now you sound like one of them!!! ;)


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: BitCoinsLOL on March 20, 2014, 02:24:21 PM
the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.

 I guess Matt should of put a disclaimer at the bottom of his post  ;D


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Asrael999 on March 20, 2014, 02:35:52 PM
I withdrew last night, SEPA transfer, was asked no questions (other than my BIC/IBAN, which seemed fair enough) and got an email that the transfer had gone ahead this morning. It wasn't much money (maybe they ask questions for larger amounts?) but it was pleasingly straightforward.

I have withdrawn small amounts just to see how process ran and both times it went smoothly.

This time however I asked for a 5 figure sum and this time the transaction is proving problematic although it is going back to the exact same bank account that paid it in (and much more besides) to begin with. They have all the details that they need from me. This transaction really shouldn't be a problem for them, yet it seems that it is.

Capital flight underway from Bitstamp? The BID side of the order book certainly seems to have shrunk quite a bit recently.

what reasons are they giving for the delay? - I took back a five figure number, albeit with a 1 in front back in December/January and had no issues, either with them or my UK. I used international transfer not SEPA because the USD/GBP rate at Unicredit Slovakia (Bitstamp's Bank) was a lot better than the EUR/GBP rate I get off the rip of merchant I have to use for banking services in the UK/


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: MatTheCat on March 20, 2014, 02:38:59 PM
the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.

 I guess Matt should of put a disclaimer at the bottom of his post  ;D

Except checkers6676 is lying.

It is an easy thing to do, observe:

"LOL The last time I listened to BitcoinsLOL's TA, I sold my house and my sport's car for a handful of magic beans, LOL. He said that these magic beans would grow into a giant stalk with golden leaves, but so far, I have just had a few sproutlings that have shriveled up and died already LOL!"

I have never ever been so blatantly on the wrong side of a trade as checkers6676 is trying to suggest since I have started trading Bitcoins and if I listened to my own advice I would have done much better than I have done (I am prone to being very impulsive, nearly always with regretable outcomes). My worst recent call was here:

https://bitcointalk.org/index.php?topic=494722.0

I speculated that break out and confirmation above $580 could occur and would be very bullish, but I thought a retest of lows was a much more likely scenario and that is where I placed my bets. I had buy-ins in low $500s and higher $400's, and was also shorting Bitcoin at $574. Turns out my short got margin called at $585 and I lost quite a bit on that trade cos it was leveraged. I did however make decent profits on the bull run up to $710, which was caused essentially by just one massive buyer in the market place, placing 3K Bids right at spot price, causing an avalanche of panic buying.

So any talk of checkers6676 of me saying the market is going down only for it to rise $100 just 30 minutes later is complete fucking bullshit. If he really did (he obviously didn't) make such a trade, then he needs both to learn to read comments properly and also to take some TA 101 classes.

what reasons are they giving for the delay? - I took back a five figure number, albeit with a 1 in front back in December/January and had no issues, either with them or my UK. I used international transfer not SEPA because the USD/GBP rate at Unicredit Slovakia (Bitstamp's Bank) was a lot better than the EUR/GBP rate I get off the rip of merchant I have to use for banking services in the UK/

The transaction has now been processed although it has not yet landed in my German bank account. I gave them absolutely none of the information that they asked for as per their KYC routine, except a mouthful of abuse, yet my transaction is processed all the same. Makes you wonder why they ask for all that shit to begin with? They are just making their customer base nervous and harming themselves.



Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: tarmi on March 20, 2014, 02:44:55 PM
Mat made some good calls.

I know cause I made similar calls, and took some nice profits.

And I also made some withdrawals, but not because Mat said so.

I just felt like it was time to take some dirty cash.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Edward50 on March 20, 2014, 03:59:07 PM
I agree with you about pulling your money from the exchanges. I actually have been wanting to do this for a while as I totally agree with your bitcoin sentiment.

I lost about $700 dollars on Mt. Gox that I had sitting as cash (was for a partial bitcoin I sold to test out their exchange). Mt. Gox should be enough to realize that any of these exchanges can go under.

A problem with bitcoin and a reason I didn't invest in it heavily early on is that I saw it as too risky to hold for the average person. It can be too easily stolen or hacked from your computer. I thought back when bitcoin was in the single digits that there would be plenty of malware able to steal bitcoin.

Now you can imagine what will happen with these high prices. You have to be really sophisticated to keep your bitcoins safe and you can't guarantee 100% safety.





Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Dr.Zaius on March 20, 2014, 05:54:49 PM
Elliot Wave is hocus pocus. You might as well throw darts at a board instead.

Even if elliot wave has any truth to it, it won't apply to bitcoin. Why? Bitcoin is not a fluid market. You have 100 people who control between 1/3rd to 1/2 of all coins, add another 200 people and that most likely jumps to 3/4th's. Basically, out of the estimated 500k bitcoin holders the absolute vast majority hold the equivalent of zero. Elliot Wave's won't work on such a manipulated market. Even die hard bitcoin believer's had no qualms about cashing out into evil fiat at $1200.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Cassius on March 20, 2014, 09:30:08 PM
Elliot Wave is hocus pocus. You might as well throw darts at a board instead.

Even if elliot wave has any truth to it, it won't apply to bitcoin. Why? Bitcoin is not a fluid market. You have 100 people who control between 1/3rd to 1/2 of all coins, add another 200 people and that most likely jumps to 3/4th's. Basically, out of the estimated 500k bitcoin holders the absolute vast majority hold the equivalent of zero. Elliot Wave's won't work on such a manipulated market. Even die hard bitcoin believer's had no qualms about cashing out into evil fiat at $1200.

Why are you here? That's the second thread I've seen your trolling on in 10 minutes.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: GigaCoin on March 20, 2014, 11:16:01 PM
in times like these it certainly does feel nice and cosy to have ur fiat back at your bank account  :)

its your decision ofcourse, I'm still holding my coins, personally i don't blame you or anyone for cashing out given the bleak circumstances


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 20, 2014, 11:21:39 PM
Streets, blood.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: master-P on March 21, 2014, 04:46:31 AM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!


Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate.  I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 21, 2014, 01:06:45 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!


Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate.  I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish.
Yeah, can you imagine reaching dollar parity? LOLOL!


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: fcmatt on March 23, 2014, 06:00:19 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!


Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate.  I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish.
Yeah, can you imagine reaching dollar parity? LOLOL!

Speculators have an easier time, psych wise, dealing with a dollar per btc. They can work with that in their heads. They can also justify several or a few hundred dollars per btc. That is still low enough to suck in speculators to keep the price up or stable. But once you get past 800 dollars per btc you are talking a lot of money for a normal joe. Like a weeks worth of labor to buy a bitcoin. That is when fresh blood is hard to find unless mania sets in. Tulip mania.

Look at lottery ticket prices in the US as a good example of what the market bears before tickets dont sell. Btc is very close to that.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: Ibian on March 23, 2014, 07:21:55 PM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!


Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate.  I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish.
Yeah, can you imagine reaching dollar parity? LOLOL!

Speculators have an easier time, psych wise, dealing with a dollar per btc. They can work with that in their heads. They can also justify several or a few hundred dollars per btc. That is still low enough to suck in speculators to keep the price up or stable. But once you get past 800 dollars per btc you are talking a lot of money for a normal joe. Like a weeks worth of labor to buy a bitcoin. That is when fresh blood is hard to find unless mania sets in. Tulip mania.

Look at lottery ticket prices in the US as a good example of what the market bears before tickets dont sell. Btc is very close to that.
Bullshit. Speculators make money by not being braindead like the rest of the masses.


Title: Re: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto
Post by: fcmatt on March 24, 2014, 04:14:50 AM
If the banking system collapses, then btc price will collapse too. Btc demand is fueled mostly by wires of fiat from bank accounts from speculators.

Shusht!

Be quiet!

You're not meant to say these things! People on this place actually think that Bitcoin is a hedge against collapse of USD and that when the USD actually does collapse, that we are all going to happily exchange things of real value and use for lines of algorithmic computer code backed by no real commodity and backed by absolutely no standing authority! Those of us that have most of these lines of code are going to be the richest!


Looking at the threads on the speculation forum now. One is talking about $1000 BTC, another $10k, and a third mentions $1 million bitcoins. And there's a few people on there saying $1 million is a conservative estimate.  I agree with your sentiments above. While I do see potential in bitcoin, a lot of people seem to be delusionally bullish.
Yeah, can you imagine reaching dollar parity? LOLOL!

Speculators have an easier time, psych wise, dealing with a dollar per btc. They can work with that in their heads. They can also justify several or a few hundred dollars per btc. That is still low enough to suck in speculators to keep the price up or stable. But once you get past 800 dollars per btc you are talking a lot of money for a normal joe. Like a weeks worth of labor to buy a bitcoin. That is when fresh blood is hard to find unless mania sets in. Tulip mania.

Look at lottery ticket prices in the US as a good example of what the market bears before tickets dont sell. Btc is very close to that.
Bullshit. Speculators make money by not being braindead like the rest of the masses.

I dont think a non brain dead speculator would jump into this btc market right now. They would wait for a definite barrier being breached. In other words a clear rally to get in on the upswing. This means to me the price of a bitcoin lottery ticket is still too high. Joe Average aint gonna toss 500+ plus dollars around for a coin. Speculators arent excited yet. This train is heading south. Sub 500 in a few weeks easy.

Pysch wise... The current price in this atmosphere is poison for bitcoin.