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I mean... I'll just take my 1,000% return over the same time that buy and hold has only returned a whopping -10% and sit over somewhere else. You go ahead and enjoy your thread.
Edit: for full disclosure there was a point where I was -25% and also one where I was +1,500%, so Im not pretending to have timed every trade perfectly.
Unlike passive investors, volatility in both directions is my favorite thing.
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Looking to buy 1 BTC worth of Nxt, pm me offers. (Hint: Don't bother unless you plan on beating current dgex offer)
Will split up trade into smaller transactions.
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I promised him I will return the money to him by the end of 2014 with an extra $100k (10% interest). It took me a lot of convincing but I somehow managed to convince him without telling him exactly what I would do with the money. He thinks it's for a start up. I did not tell him that I'm gonna throw it all into bitcoins because I'm not exactly sure he understands or knows about it too much. If he found out about the price volatility of bitcoins I really doubt he would let me invest. But I am pretty confident that the price will at least rise up above where it is now before it crashes (if it does crash). I really think it would at least go back to where it was (~$1240/btc) at its highest point once more before going down for good. That would at least be a nice ~$200k profit and I feel like it's almost guaranteed.
Which brings me to my questions...
1. Am I being really stupid and optimistic to think this way? How much of a chance/risk do you think it is for the price to not go up any higher in 2014? IMO, it almost seems guaranteed the price will at least hit $1200-$1300/btc sometime next year.... or is there a risk that I'm not aware of?
2. I have a coinbase account and it only lets me buy a max of 50 BTC at a time. Is there a place where I can buy as many as I want w/o any limits?
3. Will I even be able to buy $1mil worth of BTCs? Does it depend on who's selling right at the moment I'm trying to buy some? How does this work?
4. Will I have to pay taxes on capital gains? I don't wanna pay shit to the US gov, how would they know how much I made off BTCs?
I'm thinking of putting an automatic sell order right when BTCs hit $1500 in 2014.... is that too high or should I put a lower limit? I want to guarantee some profit before I get too greedy and potentially lose my dad's money. I figured if I sell at $1500 it would be a nice $400k profit for me, I could quit my job and chill in Miami and Ibiza for a year until I need money again.
Serious advice only please, I'm not fucking trolling
This is incredibly stupid. Nobody wants to admit it around here but that's because a lot of people are delusional. There is absolutely the chance that BTC goes down to $0 tomorrow and that is that. That risk will ALWAYS be there, just like it is with every stock, bond, derivative, etc. Do NOT throw a million dollars at BTC without some sort of gameplan for if/when things go sour. |
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I hope you guys can catch the bottom.
nobody ever catches the exact bottom or exact top, you just got to sell when optimism is high and buy when despair is all around, makee sense? This. I got out about $50 short of the top (which was better than I thought it was going to be), and I'll probably buy in $100-150 above the bottom after it starts going back up. I may not be the most efficient at playing the entire swing, but I take a nice chunk out of each one and put it in my pocket. That's enough for me. |
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I would make the argument that we haven't run out of steam yet. Though you might not be an "early adopter" there is still plenty of profit to be made. If so, you can use that profit to be an early adopter of the next major innovation. Cheers.
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Let's get one thing straight here. If RippleLabs were to try and "Do anything they want" with the price of XRP as so many of you like to assert, I would be the happiest man on Earth. Why?
Because I would arbitrage the shit out of every single one of their trades and have the single biggest payday that I have or ever will have, in my life.
To top it off, the value of XRP probably wouldn't end up much different than it was originally.
In order to do "anything they want" with XRP, they would have to own a significant amount of every major currency with a strong market against XRP and simultaneously buy and sell these currencies with XRP in order to get the price to stick. But, they wouldn't want to do that because it would entail changing a significant portion of their XRP balance into another currency which in turn would make the XRP price manipulation less worth doing.
Price manipulation would cost them far more than it would ever earn them and they know it. They aren't stupid people.
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Ripple's got quite a few of the smartest investors around buying into and building it up, and you're still simply dismissing it as a scam? Go try understanding it a little better. XRP doesn't even really deserve to be called a "coin" much less a "scamcoin".
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I think he's making a whole lot of assumptions here that you just can't make.
First of all, let's not forget that there is a large degree of automation in bitcoin trading since, you know, there's an awful lot of programmers around. You can also look back and see all trading robots that have been posted to the forums alone where people literally download and let it run so you have a large population of users who don't know what they're doing just letting the bot do its thing. Since this is the same exact bot over many different accounts, they will all notice the same things and make the same decisions.
In fact, I used to use this knowledge to predict what the bots would do in a certain situation. When I saw that scenario playing out, I would take advantage of the bot's mindlessness and it was making me some pretty good profit. The bots have gotten pretty sophisticated now, and the market is large enough that the risk to me is too great. I wouldn't put it past a bigger player to be taking the same sort of reactionary trades against a programmed hive mind.
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Put it this way; look at how much the value of the dollar plunged compared to just about every other currency since the announcement. There has not yet been a likewise reaction in the BTC/USD market. I could argue that there is a significant delay involved in in the injection of capital to the BTC market and that there will be a correlated move shortly.
Then again, we could have an equal and opposite move tomorrow and nothing could change at all. I've moved a little more funds into BTC for the moment, though.
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Hell, I'd even pay $7 for them. Sign me up for fifty.
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I agree that until Gox pulls its shit together the price is distorted by the unavailability of steady USD withdrawals, which make the BTC price higher than it should be. From the other side, biggish SEPA transfers worked charms for me (and I realized that high 5 figures withdrawals clear faster than smaller ones, some times I received my money into my account 2 days after requesting the withdrawal. Thus, transfers are processed in order is BS: bigger transfers have priority, I experienced that myself).
This leads me to think that whale traders/market makers outside the US are not having this big problems everybody is whining about in these forums (note that everybody complaining requested to withdraw very small amounts, 10k or less), so all this "Gox is broke" song may be blown out of proportion.
We'll see, personally I'm betting on Gox solving its problems and I did not move my funds to Bitstamp. I'm in the EU and not in the US, this obviously had his weight in my decision, but nevertheless any problem Gox might be suffering will hit the other exchanges for sure.
I don't believe you. If it was true what you said, then arbitrage would work, and the price gap would not be widening. Are you willing to back up your statement with a screenshot? If this were true there would be no price gap. People would wire in multiple tens of thousands into the other exchanges, buy the shit out of btc, transfer it to Gox and sell the shit out of it, cash out, rinse and repeat. The two prices would converge in a matter of days. |
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Death and Taxes pretty much summed up my opinion. Trading on Mt. Gox means trading at a much higher risk premium (over 10% ?!?) and I wouldn't consider that to be an element of price discovery for bitcoin itself. I think you would have a better analysis of Gox prices if you charted out the magnitude of the risk premium over an average price of the other populated exchanges. As that premium expands/contracts the price would be less/more reflective of the underlying asset, and since Gox is still pretty much the flagship exchange it would mean any technical analysis would represent the overall market a little worse/better.
Without some sort of way to measure that element though, I wouldn't put much faith in any analysis of Gox prices as they relate to the overall market.
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I'll go with the bolded, and the fact that most of us agree with you, so there's nothing much else to say.
'nuff said. |
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I would consider 300 in one trade to be a player. I work in a pit where we can have 50k contract trades and yet we consider any trade above 1000 contracts to be a player.
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1FuBRFu39r9oKvdCPppgUEuNs8cFkvbchs
Cheers!
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I got this too, absolute bullocks. if you go to http://bitcointalk.org.uk/ you can see that they didn't even bother to make a home page for it. The only "real" page of the website is the fake thread the user Runescap sends out with users impersonating respected members of this forum. |
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I think Ripple will do well. If not Ripple itself, then I think the next-gen solutions based off of the Ripple concepts will do extremely well.
The ease with which currencies are exchanged, and the way transactions flow seamlessly/instantly is astounding and I think institutions will embrace the idea of using Ripple or Ripple-like systems for their financial dealings in the future especially between them and other institutions.
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I'm actually quite surprised with the results thus far. glad to see so many people are buying legitimate goods/services. (Even if it is only 30% or so)
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Keep in mind that even after these units are no longer "profitable" they will still be generating coins at a lower cost than buying them outright for some time after that. Many people would consider this to be an added benefit, as they will generate "x" amount of coins profitably, and then "x" amount of coins at a cost lower than outright purchase for some amount of time. If you factor this in they have a longer lifespan and I believe they would likely save enough money to be worth it in the long run for someone that is just trying to generate coins over time.
I haven't actually done the calculations, but that is something I consider when I argue with myself over whether I should invest in expensive gear.
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I could sell you some if you're serious. PM me with how much and how you intend to pay if these skeptics havent scared you off.
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