Unless you have money to burn or a sixth sense, do not day-trade with Bitcoin. Investing for the long-term has proven to be far more profitable for most.
This is interesting and I think a lot of people around these forums agree with you. The thing to remember though is that buy and hold is a great strategy until it's not. I don't think it's wise to assume that previous growth in the price of bitcoin is going to continue forever. Unfortunately, new investors in almost every new raging bull market make the same assumption. Now that said, I would think you're probably safe as of now because there's still quite a bit more upside left to the market (in my opinion). I think about it like this... who lost money in the 2009 stock market crash? Or the .com bubble? Or the 1929 Black Friday crash? Lost significant long term, life changing money in the form of unrealized gains that turn into huge losses? It's always buy and hold investors that take the brunt of those losses. Swing/day traders might actually make huge profits on those same days. So sometimes the safe strategy isn't so safe when the market conditions suddenly switch on you. Short term investors have the ability to adjust to rapidly changing conditions where investors following the buy and hold strategy will be much slower to respond. there was no, microwave crash, wheel crash, etc, these invention are with us today. Crypto is that sort of new invention. Aslo the .com bust was very limited to those who could even get a buy in, crypto are far more broad based. |
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dwolla refused my aud dollars in 2011....I will forever remember this
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Satoshi decentralised himself.
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I am six months into my mining journey and I am becoming concerned, I would like some opinions from more experienced cryptologists. My concerns are with the community: I don't mind crapcoins I just do not mine them or buy them if I dub them so. I don't mind coins with controversial names, it brings attention to the crypto community. But when a coin is released and I download the wallet within one hour of the release time and its on block 22k I get pissed. Here is a link to the coin I speak of: https://cryptocointalk.com/topic/3356-milancoin-mlc-information/Downloaded the wallet and synced up @ block 22k....... So may I ask what, if anything can be done to stop the community from destroying itself because the scams are increasing exponentially, which over time will degrade trust in crypto. Of course the easy answer is do not mine it, but what happens in six months if all coins are released in this manner? I am by no means a pillar of professionalism. But the community is going to Hell in a handbasket, when I first came here it seemed the average IQ was around 160. I stood on the shoulders of these forums which provided me a springboard forward. This is changing rapidly, downhill. Discuss..... no, the ccc (crypto coin community....just coined that!) is probably unkillable....and pehonix like. no one forces you to download any coin. |
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how do you convert wallet type from old .dat to new type, or where is older version of electrum available?
thanks in advance
no conversion is needed, it is the same file type. only the name changed. Thanks! |
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What is this, a bulls only support group? Who are you trying to convince?  If you must then a good motive would be to pay down mining operation expenses/loans. hodl PeerCoin, no mining equipment to pay down..... |
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Depends on the scenario. If the USA, EU and China ban bitcoin <30$.
Yeah right - if Bitcoin gets banned in the whole world then I reckon around $25 per coin is the right value.  super cheap coins, I can only dream.... |
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this is why BTC >>>> than any other asset class....It so much harder to manipulate or take it the latter basically impossible.
I am mystified as to why gold bugs exist as there no#1 complaint is manipulation!
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Given the many large *crashes*, read, I only have 500% rather than 2500% since I purchased, and the risk of trading , being in fiat, and then seeing an order of magnitude jump in BTC, but missing out, or put another way selling because BTC has peaked, and only to buy in later less coins...and this has happened so many time now, eg, every one who bought at $250, and just held would still be 300% ahead now, for these reason the Hodl I believe has arisen. Hodl has just encapsulated a latent understanding of the BTC operation, and it didn't have an adequate descriptor before.
Hodl has several advantages.
Less stress.
You wait for the BTC services to come to you.
Every day more goods and services can be purchased directly for BTC, so its more efficient to wait.
You stand a better chance of doing a 10x by Hodl, but 10x in trading is not easy
What are you going to do with your Fiat anyway? So you have FIAT now....what are you going to buy with it. Apart from say a good house, not much else is life changing, just a car that will devalue, or some plastic crap, or tech gadget that will be obsolete in 3 years. Essentially for whatever reason you went into crypto in the first place, it going to be difficult to find a better thing to do with the FIAT than be in crypto.
I'm not against say spending a portion of Hodl (making me a small h Hodl) so you can get something, or perhaps your initial Fiat back, so you can Hodl better.
I'm just trying to articulate the inchoate thinking behind hodl and why it resonates.
I'm not against trading, just remember for every winner in a trade there is a looser, and you can loose twice in an evaluation event.
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Isn't there this logscale chart somewhere? I think right now we're above the trendline, we should be at about 350 dollars, but we're at 800. According to the trendline we get a stable 1000 around September 2014. But there could be a new bubble starting mid 2014, leading us 5000+ per btc. I think in 2015 we'll be around 10.000, and late 2016 at 100.000 per btc. The end price is about 1 million per btc in 2018. All this of course under the premise that adoption of bitcoin continues and that major companies will continue accepting bitcoin, like overstock did early this year. And I think the likelihood for this scenario is very high. So hold on to your bitcoins  I have such a log chart and this is pretty much spot on, the power or the log chart is the that it keeps going, so 10K to 100K and possibly 100K to 1 million. it seems the order of magnitude happens around 13 months. Right now depending which line of the log chart you look at, we should be at between $150 and $550 right now, however I think that one miscalculation is that BTC is happening faster, because the more valuable it becomes, you just have more value on the table, so it gets stonger |
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I think it's very likely. If there is no catastrophic failure of some kind. As more businesses accept it then the demand will increase. My guess is
$1500 by jan 1rst
$2000 by feb 1rst
$10,000 by end of 2014.
Some are saying summer for 10k. But I like to be a little reserved. Those $5k to $3k slides will be interesting.
I think that $30,000k within 3 years from now is possible. But I think that after 6-12 months Bitcoin will have competetion for sure to eat
at it's market share. I think it may stay at $10k and slow down. Bitcoin transaction times are a bit slow. And security and other factors are average.
only in bitcoin world is 300% increase in a year is reserved... |
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Anyone have an idea where these auctions usually take place? Not that I have any spare change to spend but I am curious. I do think this is actually good for BTC. Besides the minor panic selling yesterday and today, this is all free advertising!  I guess I am a bit more concerned about what will happen to Ulbricht's 144,000 coins that are still in limbo. Hopefully he lost the keys somewhere!  they don't have the keys |
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this is the best news ever
[1] You have a law enforcement agency of the US recognising the not only the value in bit-coins, but showing it is fully legal to sell them for FIAT. You probably couldn't ask for a better endorsement. (I wonder if the need a money transmitters licence to do this?)
[2] They are going to have to auction them of for the best price, I think the bids will really go up.
[3] the $25 mill / 26K of coins is not that much given the volume of BTC traded a day ~ about a days worth of trade on a slow day.
[4] The advertising factor of the alone is worth $25 Mil.
[5] people / weak hands that don't understand this giving us cheap coins
Agreed. Also these coins WILL NOT be sold on an exchange. They will be auctioned by the normal federal process. Do you think they are going to send the coins to MTGOX for sale? That would be funny but it will not be happening. that would be classic as they wouldn't get their usd back for .... well ever |
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Considering there are only two kind of people/organization- rational and irrational. To which category US/FBI belong? I think, rational. And rational people, try to maximize their profit in every possible way as per their knowledge domain. For example, people who hold thousands of coin don't spend in one shot. They spend in chunks depending on price and future prediction. What about FBI/US? Considering, them as an organization/person existing for the good of society. When it comes to money(specially money received for negligible/free)... we all need money. And for everything money is needed. So, according to me-FBI/US will try to maximize their profit, in order to do better for the society, reduce crime etc. And who has better access to testified knowledge? For sure personnel in FBI or government organization. And when they're deciding to sell those seized coin, means they think they can't get more than this. I've ignored judiciary in this assumption as I know nothing about them. Do they order to sell coin? Or organization decides? For sure, organization is also run by officials and most of the decision are taken by top-rational officers. Not referendum.
If they're selling then should I worry? Because they know more than I do and they can take better decision about selling them(perfect time to sell). Or is it other way round that, FBI/US sees opportunity to break confidence of market because plummets when large number of coins are dump and which will further panic market thereby decreasing price more.
gov orgs are tax backed so they are irrational actors as they don't face much market discipline, rahter you do via tax for their bad decisions. FBI?Executive gov just follow a policy/legislative provision or claim to unless that legislation si changed or tested in the courts |
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Any chance of a multi-currencies ATM?
a bitcoin atm is intrinsically a multi currency atm, and more..... they can do currency transfer when you buy it you own currency and sell later and give you exposure to pay in BTC to an increasing number of BTC purchase options. But I know what you mean, and that will come to. |
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looks like BTC is speeding up its trajectory....would not be surprised to see 10K this year.
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this is the best news ever
[1] You have a law enforcement agency of the US recognising that not only the value in bit-coins, but showing it is fully legal to sell them for FIAT. You probably couldn't ask for a better endorsement. (I wonder if the need a money transmitters licence to do this?)
[2] They are going to have to auction them of for the best price, I think the bids will really go up.
[3] the $25 mill / 26K of coins is not that much given the volume of BTC traded a day ~ about a days worth of trade on a slow day.
[4] The advertising factor of the alone is worth $25 Mil.
[5] people / weak hands that don't understand this giving us cheap coins
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sooooo does that slasher algo idea mean you are going to pos now?
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