talking about the risks of hodling bitcoins, and then investing in ltc.
fail.
same goes for Litecoin, in fact investing in Litecoin is 10X riskier, it is insane but I follow the Risk/Reward rule, the riskier the investment can be the bigger the reward usually is.... see most of you are not objective , you are just a bunch of blind investors. |
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What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?
It's a poker term long before "penny stocks." It means you lack confidence in you ability to play. So it's a profit making game and not the future of money? Is money not about profit? Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits. I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money  )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings.... That is NOT why you were attacked. You were attacked b/c you failed to articulate any plan that made sense to anyone beyond yourself.. and even then, NOT clear if it made sense. |
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Wow. Just because you decided to sell your coins and not have to work for 2 years, you feel the need to make threads attacking bitcoin so you feel better about your decision? Lulz
did you vote "go fuck your self" ? if you didn't go ahead and do if you feel that way  |
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the price has to start appreciating really soon, otherwise the massive number of holders will start losing patience, just to mention that in the worst case scenario 95% of all Bitcoins are just hoarded and you can confirm this by just looking to the daily volume across all exchanges and the daily transaction volume excluding the popular addresses, most of the new users joined because of the quick get rich scheme, posts on this forum and reddit that attack any different opinion or any voice of reason and just talk about how rich you will be if you hold 10 BTC and how this will be after few months is just worrying... well I can imagine if this wont happen this soon how this people will react... the merchant adoption overpass the userbase adoption, each day we hear about new stores/companies adding Bitcoin which can be a good sign but only if the userbase is growing at the same or a bigger rate, my wife is doing her diploma about how Bitcoin as payment method would change economy here in Slovenia, in Q&A to a merchant who accepts Bitcoin for more than a year he said that the only time clients pay with Bitcoin is around an ATH otherwise no one ask about paying with bitcoin, most of the bitcoiners use the coin as an investment or as a saving method believing that it would appreciate in value over time..... just a look to the thin orderbook of all exchanged combined would reflect the hoarding theory. Bitcoin would be a good saving mechanism only if the adoption rate will be equal or more than the actual inflation rate (creation rate of coins) which is more than 10.5% a year. so choosing Bitcoin as saving method is as risky or maybe riskier than having fiat in your saving account. |
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Ain't nobody getting any style points for the whinging.
You may not want to hear it, but a substantial LTC position at this point is kinda self-destructive, and anybody who yanks your chain on the topic is doing you a favor.
Feel free to aspire to a brilliant contrarian move, hey. But if you are a contrarian you have to be prepared to suck up some ridicule, and much argument, often well-meaning.
I've been called worse than foolish. Sometimes I was right, sometimes I was wrong. What matters is not what names you are called, but why you are called those names.
you know, most Bitcoiners start crying when money is not going toward their investment (well into Bitcoin), Litecoin investors are doing the same with Darkcoin and many other coins.... and as I recall Bitcoin is crashing for more than 6 months and only about now it rebounced, now each one of you is yelling CCMF, I say when Litecoin is going to the floor it is time to buy and remain silent for a couple of months. we don't know if Bitcoin will go up (neither Litecoin), we just tend to compare present trend to the historical bubble chart and we say "yes the price will be Y and Z", and the argument is "it worked before so it has to work now" well I am doing the same with Litecoin. not that I know this is right or if it will even work, the same with Bitcoin, we dont know we just hope. remember, there are more than 12 Million Bitcoin out there, a 60K dump on all exchanges combined will bring the price to 0, the user adoption has slowed down, well almost stopped. so I feel a precaution is needed. otherwise if you own 100 Bitcoins which will make you rich in 6 months then 50 will make you the same in 1 year "following the continuously Bitcoin growth myth" the other 50 BTC worth in fiat in your account gives you some kind of assurance |
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I want to remind most of you here that it is not your fucking problem what I do with my money or what I think about any investment...it is still my point of view and I don't want to hear that I am being "foolish"... period.
I hear ya. It's one thing to disagree with someone's position but another to try and convince them they're "wrong". I hope you have a great two years off if that's your plan. If you are posting your position, thoughts, etc on a public forum then you should expect people to disagree, convince you that you're wrong and tell you what an idiot you are. Hi I'm Nightowlace allow me to be the first to welcome you to the internet. It's tough out here kid, you're gonna need to man up and get yourself a thick skin. nice one "Kid", I have 2 other kids of my own so I don't need a third one to tell me how internet works |
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Lol @ mmitech who insulted me after every bearish of mine and asked me what the fuck i am doing here if i don´t believe in bitcoin. Now he says he doesn´t give a fuck about the technology and that he has sold most of his stuff because he thinks that it probably goes down. Talking bout hypocrisy
MMITECH IS DEFINITELY THE BIGGEST TROLL
He might have turned into a bear due to the full moon last week? Bulls be careful, it could also happen to you!
you are the biggest troll, I Still believe in my investment, and I didn't sell most of my coins but half of them, also this is called risk management (not that most of bitcoiners here agree but whatever) no matter how sure sometimes you think you are, things can still go wrong... we all want the price to go up and I will be so happy when it does but if it goes down I will say "shit that was close and good I had a plan B". but some blind fools here refuse to understand a really simple logic I am following, it doesn't matter if you don't agree, we all have the right to have our own opinions... but there are some lines we tend to not cross. |
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What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?
It's a poker term long before "penny stocks." It means you lack confidence in you ability to play. So it's a profit making game and not the future of money? Is money not about profit? Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits. I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings.... I attacked you because you said you went full LTC which is foolish, LTC is tanking and doomed to fail. If you are considering so, you'd better go full fiat. I have no problem with people who don't see the big picture selling their stash of bitcoins. Enjoy your life. I want to remind most of you here that it is not your fucking problem what I do with my money or what I think about any investment...it is still my point of view and I don't want to hear that I am being "foolish"... period. Don't advise people to sell their bitcoins to litecoins and i will stop saying it is foolish. Meanwhile BTC recovered and LTC is approaching 0.016. Remember what i told you : south 0.01 by the end of the year. Fiat will tank even more than LTC against BTC, but at least it makes sense to go full fiat for a risk adverse person. Don't advise here if you don't want comments on your advices. I didn't advice anyone about anything and I don't even advice my best friends about any investment, you are just being buthurt because I am trading against your wish .... idiotic. |
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What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?
It's a poker term long before "penny stocks." It means you lack confidence in you ability to play. So it's a profit making game and not the future of money? Is money not about profit? Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits. I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings.... I attacked you because you said you went full LTC which is foolish, LTC is tanking and doomed to fail. If you are considering so, you'd better go full fiat. I have no problem with people who don't see the big picture selling their stash of bitcoins. Enjoy your life. I want to remind most of you here that it is not your fucking problem what I do with my money or what I think about any investment...it is still my point of view and I don't want to hear that I am being "foolish"... period. |
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well keep following that guy and you will lose everything...well if you didn't already (you know the I give my word that everything is cool with gox video)
Good reminder, I somehow missed that in the past. You are saying Roger Ver publicly claimed everything was fine at Gox? He recorded a video at MTgox offices visit saying after looking to documents presented to him by Mark that everything is OK and he followed asking everyone to calm down and summed up gox issues to them only having some complications with their bank... after gox filled for bankruptcy protection he deleted that video and posted another one once he tweeted about the biggest threat to Bitcoin and I replied that I think that people like him are the biggest threat to Bitcoin. |
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well keep following that guy and you will lose everything...well if you didn't already (you know the I give my word that everything is cool with gox video)
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What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?
It's a poker term long before "penny stocks." It means you lack confidence in you ability to play. So it's a profit making game and not the future of money? Is money not about profit? Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits. I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings.... |
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2-I firstly use my logic and then the values that I took from my religion ( I am not a Muslim fanatic BTW, I am far from being a Muslim when it comes to sharia but I still have many values from being an Arab Muslim ) Surely, each of us have various religious and/or ethical and/or perceived legal boundaries that will cause us to place limits on how far we will go to personally profit.. or whether we attempt to manipulate or influence the behavior of others or to merely make ourself (ves) as a role model for others to emulate. To the extent that you are allowing various kinds of beliefs about the impropriety of earning interest or participating in forms of usury, these kinds of concepts and limitations seem to be much beyond the considerations of a lot of others participating in this thread and forum. Surely, you can apply these kinds of concepts to yourself and proclaim to your self that you are a moderate all that you want; however, if you are incorporating these ideas into your approach(es) about bitcoin and/or your future planning concerning your bitcoin proceedings, it seems likely that most people here are going to be merely distracted by these kinds religious limitations concerning interest and whether one kind of investment is ok .and another kind of investment is NOT., based on religious beliefs... In my humble bumble opinion, that just seems too personal to be muddying up the thread with those kinds of personal considerations. I didn't give any advice or any guidance about any investment, I decided upon my personal beliefs, but only when you insisted about knowing I told you, as far as I am concerned it is still a personal choice that somehow you don't like !!!! so next time you start writing about how my believes and my values and my personal choices doesn't fit your logic or the thread logic you must remember that they involves me and only me and they don't effect your life or the life of anyone except me.... got it ? this is where our freedom of choice comes from and no one should cross the lines. your freedom stops when others freedom starts. |
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Even here we are talking about religion. FML. Religion=hate spreading Religion=war religion=racism. Making choices based on religion on a stock/crypto market, that is a whole New level of stupidity. Goodluck going bankrupt. Small hint: religion has brought shit for hundreds of years, that wont change a bit Small hint: today's religion is the idolatry of money. Printing money may have caused more death than any religion. During the 20th century, if we wouldnt have been off the gold standard, we would have had way shorter wars, way less debt and way less environmental problem. People have been bashing religion since the 19th century. It's old news. Its not a rebel act anymore. Everyone is doing it. You are engaging in very fuzzy logic if you are attempting to equate the pursuit of money as if it were a religion - even though both may share some components... You are simply over-simplifying the matter. see, what he said is right, now religion was and still is the biggest reasons for wars and issues, I agree on that but if a war is financed based on what you own and not a on debt philosophy ( printing money from thin air) the world would look better today and many lives wouldn't be wasted on stupid religious issues. |
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Bitcoin cultists accusing religious people of being cultists? At least when it comes to religion, people are usually indoctrinated from birth and have massive social pressures (there are hardly people who convert). Now becoming a cultist of your own free will, that's something else.
Here we go again with these bullshit assertions that bitcoin believers or enthusiasts are some how engaging in religious and/or cultish behaviors.... You are ridiculous Blitz.. to be coming up with and spreading this baloney.. and you are supposed to be a moderator, no? That's what it says next to your name... and avatar... By the way Blitz... since you are a moderator and in the "know," can you make it so that I can have an avatar too? (after I just insulted you... he he hehe?  ) Also, I don't think there is any disadvantage in investment being Muslim, what does it matter if he gets 0% instead of 1% interest? Nothing.
HELLO!!!!!Even though 0% and 1% were presented as current potential bank interest rate options, NO one, with any kind of financial astuteness above the level of a drunken teenager, should reasonably be considering keeping large sums of moneys in any bank account(s) for two years.. that seems to be very financially irresponsible, unless there is some kind of explanation concerning why that seems to be a necessary or prudent course of action. Ok, you think you got it all figured out but you have no fucking idea of what you are talking about ( at least in my case)..... I don't know how old you are or what kind of a life you have but when you have a family and kids you tempt to chose the safest way to make sure they will have a roof and food and a good education for as long as you can... now if you think leaving potential profits in a high risk investment like Bitcoin without making any risk management is the way to go then you do it, I believe otherwise. I didn't invest the first time I knew about Bitcoin it took me a while to understand what the hell it is and to be honest I didn't invest because of the technology, I didn't give a fuck about it, I invested (risked my initial investment) because of the fair potential of making huge profits out of it, it seemed like free money for me. now in case Bitcoin will fail which is possible I will have some time to figure out things before it is all fucked up, if you have all your funds in Bitcoin and no liquid cash in the bank then good luck if anything wrong happens, in fact I always keep enough cash in my bank account just in case, but IMHO investing all your funds in stocks and metals... and being over optimistic about it is just stupid. beside, invest only what you can afford to lose, at this point I would hate my self if I lost 100% instead of 50% got it now ? risk management... |
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Bitcoin cultists accusing religious people of being cultists? At least when it comes to religion, people are usually indoctrinated from birth and have massive social pressures (there are hardly people who convert). Now becoming a cultist of your own free will, that's something else.
Also, I don't think there is any disadvantage in investment being Muslim, what does it matter if he gets 0% instead of 1% interest? Nothing.
Free will is an illusion bro You're an idiot calling everyone an idiot doesn't imply to you being smart, neither will make you smart. |
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.................
. but you do NOT really have much of a plan for where you are going
wtf? he is running to the hills, why so annoying? morrowind, elder scrolls? get a life. He said that he cashed out half of his BTC yesterday b/c he has a plan to play with the proceeds for two years. I said that his plan seems to be very short sighted, especially given the likely direction of BTC in the next six months. Therefore I asked him where he planned to put his investments, and he failed/refused to answer, and instead stuck to his original framing about how wonderful he is., etc etc etc.. for making so much money, while he left quite a bit on the table through neglect and/or lack of foresight, so it seems. other posters mentioned morrowind and elder scrolls.... b/c I do NOT know WTF are morrowind and elder scrolls... even though those topics may be relevant.  Regarding, "get a life" Yes, we each have lives and we choose how to spend our lives, and part of my life, at the moment includes posting on this forum and responding to relevant issues... and attempting to contribute to the forum (thread) in a productive direction. I have it in my bank account where I pay my bills and pay for goods with €.... The best of my current bank accounts only pays about 1% interest, and possibly you could get 3 or 4% if you have some kind of premium bank account and if that is what floats your boat, then who am I to say? BTW, I dont take the interest that the bank gives me, this is against my believes and it is called ribaPretty stupid of you. yea sure, being Muslim is stupid I would NOT call any body stupid or their actions stupid b/c of religion, yet Gingermod seems to make a point (whether sufficiently sensitive or NOT). I suppose that distinctions can be made - however, investing into bitcoin involves many similar financial principles as loaning money, especially given its limited supply. You buy 100 BTC in 2012 for $10, and then you sell them in 2014 for $600. The value of BTC has appreciated.. and can be considered a form of interest-1 that is shared by the whole BTC community. Anyhow, it does seem like your religion may be affecting your considerations (in possibly internally contradicting ways), and maybe also that is part of the reason that you are reluctant to get into specifics concerning your having had cashed out half of your stash to cover a two year period of time, when likely more financially prudent approaches could have been made and or considered. Also, I am speculating somewhat that your religion may be causing you to fail and/or refuse to make some detailed and potentially internally contradictory analysis regarding your financial planning concerning bitcoin. -2 Again, that is for you to decide those boundaries; however, when you are posting on a board like this, hopefully you realize that many of us are considering these matters without RIBA type influences in our analyses (and investment considerations). 1- nope, you are wrong that is called supply and demand and not interest. interest is when you need $100K to buy a house and I agree on giving you a loan with a condition to give me back $120K... the 20K is interest and I don't believe in it, what I could do is to buy the house and give it in a lease way, so you live in it while I am the owner for the next 20-25 years until you pay your debts and become the owner. and this is where leasing come from BTW. 2-I firstly use my logic and then the values that I took from my religion ( I am not a Muslim fanatic BTW, I am far from being a Muslim when it comes to sharia but I still have many values from being an Arab Muslim ) |
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.................
. but you do NOT really have much of a plan for where you are going
wtf? he is running to the hills, why so annoying? morrowind, elder scrolls? get a life. He said that he cashed out half of his BTC yesterday b/c he has a plan to play with the proceeds for two years. I said that his plan seems to be very short sighted, especially given the likely direction of BTC in the next six months. Therefore I asked him where he planned to put his investments, and he failed/refused to answer, and instead stuck to his original framing about how wonderful he is., etc etc etc.. for making so much money, while he left quite a bit on the table through neglect and/or lack of foresight, so it seems. other posters mentioned morrowind and elder scrolls.... b/c I do NOT know WTF are morrowind and elder scrolls... even though those topics may be relevant. Regarding, "get a life" Yes, we each have lives and we choose how to spend our lives, and part of my life, at the moment includes posting on this forum and responding to relevant issues... and attempting to contribute to the forum (thread) in a productive direction. I have it in my bank account where I pay my bills and pay for goods with €.... The best of my current bank accounts only pays about 1% interest, and possibly you could get 3 or 4% if you have some kind of premium bank account and if that is what floats your boat, then who am I to say? BTW, I dont take the interest that the bank gives me, this is against my believes and it is called ribaPretty stupid of you. yea sure, being Muslim is stupid |
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.................
. but you do NOT really have much of a plan for where you are going
wtf? he is running to the hills, why so annoying? morrowind, elder scrolls? get a life. He said that he cashed out half of his BTC yesterday b/c he has a plan to play with the proceeds for two years. I said that his plan seems to be very short sighted, especially given the likely direction of BTC in the next six months. Therefore I asked him where he planned to put his investments, and he failed/refused to answer, and instead stuck to his original framing about how wonderful he is., etc etc etc.. for making so much money, while he left quite a bit on the table through neglect and/or lack of foresight, so it seems. other posters mentioned morrowind and elder scrolls.... b/c I do NOT know WTF are morrowind and elder scrolls... even though those topics may be relevant. Regarding, "get a life" Yes, we each have lives and we choose how to spend our lives, and part of my life, at the moment includes posting on this forum and responding to relevant issues... and attempting to contribute to the forum (thread) in a productive direction. I have it in my bank account where I pay my bills and pay for goods with €.... The best of my current bank accounts only pays about 1% interest, and possibly you could get 3 or 4% if you have some kind of premium bank account and if that is what floats your boat, then who am I to say? BTW, I dont take the interest that the bank gives me, this is against my believes and it is called riba |
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.................
. but you do NOT really have much of a plan for where you are going
wtf? he is running to the hills, why so annoying? morrowind, elder scrolls? get a life. He said that he cashed out half of his BTC yesterday b/c he has a plan to play with the proceeds for two years. I said that his plan seems to be very short sighted, especially given the likely direction of BTC in the next six months. Therefore I asked him where he planned to put his investments, and he failed/refused to answer, and instead stuck to his original framing about how wonderful he is., etc etc etc.. for making so much money, while he left quite a bit on the table through neglect and/or lack of foresight, so it seems. other posters mentioned morrowind and elder scrolls.... b/c I do NOT know WTF are morrowind and elder scrolls... even though those topics may be relevant. There is always a trade-off between current enjoyment and future enjoyment. Different people have different discount rates. Actually I have NO problems with people making choices for themselves about when to pull out or what is their risk/diversification tolerance(s). MMItech's plan, on the other hand, seems to assume that his risks would be better diversified with half of his BTC stash in some NON-BTC investment (and spending it), but he never really stated what that was. He merely stated that he was going to spend his money for two years, which does seem like a form of blind bragging. And I was merely attempting to question what was his plan, and maybe I could have asked my question(s) more clearly or more politely (but seemingly bragging responses do kind of irk me a bit)? Anyhow, if one assumes that BTC is going to be stagnant for two years, then it would be prudent to pull out two years worth of spending, but a prognosis of flat or down turned BTC prices seems a pretty improbably direction of BTC prices, and just an excited utterance to do something based on emotions of the moment rather than really having a decent plan (or at least sharing aspects of the plan wiht us).... ... I follow a risk management where bitcoin failing and going to zero is a possibility. and again I did answer your question but you seem to be ignoring it.... |
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