Part of the erroneous all or nothing investment mindset, and you, Biodom, seem to share such erroneous thinking.

There are ways to be happy, to live within your means and to invest in the future.

For example, you should not be buying a $200k to $700k lambo, unless either you are about to die or that you have at least a couple million dollars in assets.



In other words, there is no reason that you cannot do both - live well and invest in your own future, and part of the key to that involves both planning and living within your means... and if you invest well, then living within your means will become greater and greater, and you will not be left with an old age dilemma about why you have so much money but are not able to enjoy hookers, blow and lambos.

Sure a key point remains that people are going to differ, and another key point is that a one time or a few injections of capital is not going to be enough, unless you have kind of systematically thought about your investment, which results in relatively large chunks of investment.

In late 2013, when I got into bitcoin, I considered bitcoin as a kind of substitute to a 401k that I had been investing into and milking for quite a few years (lets just say well over 10 years), so in that regard, I had already had several investments that I had built up, but I was looking for a substitute location for  a both a lump sum investment and also to dollar cost average up to 10% of my income into a new investment (which ended up being bitcoin). 

So yeah, I consider the don't invest more than you can lose idea to both cover the fact that you already have some other investments going on and also that you have your living expenses covered for 6 months or longer.  Thereafter, you can chose an amount to invest into bitcoin, and if you get other additional cashflow, then you are able to throw a decent portion of any of that new cashflow into bitcoin. 

So, for example, sometimes, I would have some additional cash flow come in my direction, and frequently 50% to 75% of the additional cashflow would go into bitcoin.  I believe that surely we gotta live and enjoy, so putting 100% of extra cashflow into bitcoin would have been too obsessive and also perhaps too over-leveraged, but putting 50% to 70% of my extra cashflow seemed much more manageable for me.

Since I had fairly conservative upside thoughts, I had expected the practical longer term upper end of bitcoin to be in the $3k to $5k price arena, so any of this current price performance is icing on the cake - yet some of my views have become a bit more bullish, based on what has already happened in recent times, and how bitcoin seems to continue to be poised for additional upwards price moves, and surely I don't need to have $20k or higher to feel rich and happy, but yeah, any additional upwards price performance is welcomed, and it seems to be in the cards, so to speak... without my feeling any need to get greedy and attempt to leverage what I already have in.

So, yes, any of us can feel a lot more comfortable when we are at least 3x to 5x in profits that are much above and beyond our entry level expectations.. and we might not even feel any kind of compelling need to diversify out of the asset, either.

Historically, it would not have mattered if they had bought when cheap or when expensive as long as they HODL, after they bought.... So, yes, a little testicular (or intestinal) fortitude is required to follow the principle of don't invest more than you can afford to lose, which means to have enough money to cover your expenses during BTC down periods, and have a vision for the longer term - perhaps 5 years or longer.

Likely the same is going to be true in the future with persons who bought between the current price and $20k, as long as they hold for 5 years and keep buying on a regular basis, they are likely to bring their average cost per BTC down while increasing their BTC holdings and being in decent profits in the long term.

When you attempt to strategize too much about opportunity costs, and maybe you should be "in" some other asset, and blah blah blah... you think gold or some other precious metal or some other alt is going to go up more than bitcoin, then you potentially get tricked out of your bitcoin rather than just sticking with a kind of long term incrementalism investment (and HODL and accumulate) into BTC.

People like you spout out technical analysis nonsense that could cause people to attempt to strategize too much to sell  too many of their bitcoin with attempts to buy lower, when the buy lower does not happen, just like you were doing in the beginning of 2017 with your predicting downwards movements from $1k to $500 when the price actually went in the opposite direction.

i gather that theymos approaches this new merit system in a fairly scientific manner.. and perhaps is only making a few changes to the number of source members, here and there, while having tools to attempt to monitor how the source members are distributing merits, too.

i recall that theymos made at least 3 and perhaps 4 additions to the number of source members, in batches.  it seems that on day 1, he designated 35 sources, and then about a week later he had increased the number of source members to 57 and then about a month later there were 80 source members. Just today, when I clicked on the merit sources hyperlink, i noticed that currently, there are 79 sources ...

So, perhaps another batch change to the source members, at some point, but might include both the addition and the subtraction of source members.

How could you be participating in bitcoin threads for so long and seem to not understand what the fuck you are talking about? 

Anyone, and I repeat, anyone can get rich from bitcoin as long as they buy and hold... so what the fuck you talking about some people can profit and others cannot.. you just have to not get mislead by bullshit FUD like what you are spreading and to figure out how to invest small enough and regular amounts into  bitcoin that you are not going to miss (because you have your expenses covered).. and you will have opportunities to get richie...

If you said that, then you would be off topic.


TLDR:  Don't say it. 

If you said that, then you would be retarded - because you are attempting to compare Google to bitcoin, which is not a very close comparison.   

So, TLDR  Protip:   Don't say it. 

Yes.  I am sure that you are ONLY a winner...  




Exactly!!!!!   

That's why there is no need to plan for the future, which increases the likelihood to cause this kind of destiny, if you are lucky enough to live so long (past your 30s).

You sound like an irrational gambler, rather than being committed to some kind of reasonable cause.

As another previous poster pointed out, you are full of shit.       

If you are telling the truth, with your supposed liquidation of your supposed long position, it seems that part of your problem is that you are too rash and emotional with your trading decisions.  Whatever...

Anyone who is trying to predict up or down and setting stops is likely to get manipulated out one direction or another.. and furthermore, these extreme BTC price movements on any exchange is not out of the ordinary and potentially liquidates in both direction and clears the order books and then forces stop losses.

 It is all part of the margin trading situation, and especially creates these kinds of manipulation scenarios when the exchange offers margin trading, so I don't see how you get removed from such manipulation potential merely because you switch to another exchange that might not even be more liquid than bitfinex...   Relatively speaking, Bitfinex is pretty liquid.


Yeah.  It is "all over the internet," it must be true.

Go back and study bitcoin fundamentals a bit more, toknormal.  You remain too bearish.        


Edit:  Bitserve took the words right out of my mouth, and beat me to it.

sideways?  hahahahahaha  or maybe gradualism?  bitcoin no work like that, right?  bitcoin no follow chart, right?

Edit: I just looked back at those posts, and I see that I already responded to both your train on a slope chart and then your subsequent "quiet bitcoin" assertion post.

Well you can look at the charts in late 2015 and early 2016 - and even there was a lot of nonsense spread around that the halvening was going to create the opposite direction (DOWN rather than UP) because miners are going to lose their incentive to mine.. blah blah blah..  .. anyhow, the halvening was mid -2016 - and the price rise was likely not until several months later and the resolution of various BIG blocker issues.. and anyhow, I believe that it is fairly logical that the ongoing restricted supply that resulted from the halvening in mid-2016 had its wearing affect on the available supply of BTC, which also contributed to the price rises of 2017....

Sure, we cannot trace one source for any BTC price movement, but if you really understand bitcoin, you are going to also recognize that some of the FUDsters were spreading the opposite and even illogical talking points that just did not make any sense about what kind of effect the lessening of the increases in the bitcoin supply had on causing upwards BTC price pressures.

O.k.... fair enough...

Even if you have not been predicting BTC down... you still did say sideways... so, that seems a bit presumptuous, even though such sideways could be possible .. and even down is possible... but like I already mentioned, I don't really see any conclusive evidence of waning interest that suggests that it is more likely that we are in a 2014 scenario as compared with a early 2013 scenario.. even though there are others who are suggesting deadness for the next several months and even a need to correct down to $3k-ish.

Yes his comment was unreasonable...  , especially because talking about seeming inevitable down.. which has been the theme of several of his recent posts to my recollection.. ...

Hasn't Phil_S been spouting out down statements for at least a couple of months now?  Seems like it.. in my fuzzy recollection, without my reviewing all of his recent posts...




Posters can say whatever they want, including your assertions that you believe that my comments are too strong.. and I can disagree, too..    That's right.

I am not trying to silence anyone from making their statements.  Make it, and I will disagree, too, if that seems fitting from my perspective.

On the other hand, peeps should have the ability to defend whatever they say in this thread and why they said it.  That is called interaction on the interwebs, and perhaps helps folks to learn why they say certain things.. Including myself....

Oh, we don't want to scare peeps... blah blah blah..   Get out of here.   

You have been talking this bullshit and non-substantiated bearish talking points in the past several months... Sounds like you are wishing rather than speaking based on actual evidence.  Furthermore you have been talking BTC prices down from $6700 to our yesterday's $9,700 price, but we barely had any price corrections from $6700 to $9700, and personally, I had not had any chance to buy back any BTC, until the past day or so... ..

So, yeah, I was glad to have some opportunity to buy back some bitcoins, and this BTC price correction of the past 24 hours does not mean that UP is over or that $10k resistance is not going to be tested or even broken.  So, hang on Phil_S, and don't expect that there is only one BTC price direction when you have already  been considerably wrong in your doom and gloom nonsense of the past months, and I suppose you would have thought that we would be down to $3k by now, and hardly gotten even close to that, yet.

How would you know whether we are in store for a quiet year or an exciting year, in the remainder of 2018?

  It seems to me that the BTC price battle is continuing and ongoing. 

Sure, there may be a bit of a slow down in apparent action in recent times, but the warring sides in this battle are likely regrouping rather than giving up (you do not have any evidence that one side or the other is giving up at this current price or that one side dominates the current BTC price direction), and we cannot rule out the continuation of the BTC price battle or that BTC price matters are going to be quiet in the coming 7 months or more.. we also have some restless alt-coins, too.

Halfening is 2020 - and there may be a bit of a delay in the upwards BTC price pressures that come from the halfening dynamics....

So probably better for folks to have plans of HODL their BTC (and accumulate) at least until the end of 2020 and perhaps into 2021 - of course, halfening pump of BTC price could get priced into bitcoin before the actual halfening date (which will likely be early 2020), so that early pump might be a factor to watch. 

Furthermore, looking at your seemingly linear chart (your cute straight line), even though retrospectively you might be able to draw a straight line in terms of bitcoin price movement, it is not really easy to project a straight-line for future BTC price performance... so in that regard, actual BTC price performance can go way below the line or way above the line, even while the line might be amongst the most reasonable of floor scenarios (BTC does not tend to be reasonable).

Thanks for narrowing down the price range for us, Kyle...       

Should be somewhere between $3k and $10k, unless it goes above $10k, then the price is going to be above $10k?  That helps.