I wish. I had to pay an exorbitant 6.8% buy fee but at least I seem to have caught the bottom (for now). Just a few hundred bucks worth but everything helps.
If it goes back down below $4.45k I'll do it again.
Jimbo: Do you keep track of your average cost per BTC? Since you buy and never sell your average cost per BTC must be going up and up and up? I understand that you started buying in the double digits (or at least I recall that), and I think that you responded to this kind of question from me previously, so sorry about the redundancy. I do believe that your system does go to show (even with various fees) that you can come out much ahead, even by employing a BTC hodl and accumulation strategy without selling (except maybe selling when it comes time that you really feel that you need to cash out of some of those babies) Recall that I started buying at $1200 in late 2013, and after about two years of buying at lower prices, my average price per BTC dropped to a bit more than $500. It could have been much lower, except I had blown a larger portion of my wadd at buying in the $600 and $400 price territories while experiencing some quasi-unexpected cash flow issues in 2015... Thereafter, starting in late 2015 I engaged in trading that employed a good system of buying back with money that I had gained in selling, and largely brought my BTC stash up while bringing my average cost per BTC down to below $400 by early 2017. There seems to be some advantages to limiting your interactions and using paper storage because my keeping some coins on exchanges has resulted in various losses through hacker sophistication to get into my personal credentials and also through exchange vulnerabilities, so sometimes these kinds of exchange related losses and interacting by sending BTC around can end up taking away some BTC profits to lower the total amount of bitcoins held and/or raise the average cost per BTC. I think that the punchline for me, is that my total number of BTC is lower than it had been in late 2015 because of losses - but my average cost per BTC is less (at least in the $400-ish territory), but mostly due to BTC price appreciation of selling higher and buying lower - even though I am buying back at much higher prices than my average, my average price per BTC keeps going down because I am selling at prices higher than I buy. Your system seems much more hands off, even though you run out in your pajamas at 2 in the morning. hahahahaha  I am doing the same as you, or at least trying to... . The way to account is simply keeping track of total, in my case, € invested at any time, versus market value of the stash. To be forced to have a certain amount in an exchange for the trading is the most vulnerable part indeed. To keep track of my average cost per BTC, I use an excel spreadsheet that have various formulas to keep track of some other metrics, too. I have a low number of alts too (including BCH - and soon to be some BTC-e tokens - and I used to have BFX tokens that were force liquidated by bitfinex), and I tend to estimate a BTC value for my various alts (and to low ball my estimated value of the various alts in order to not exaggerate the BTC equivalencies). Regarding some of the exchange vulnerabilities - I cannot help myself because it seems that I am making pretty decent money by employing some of this, and I have also taken some additional security measures - as well as moving a decent portion of my coins further away from any potential vulnerabilities or breaches by using Trezor and ledger wallets. I am kind of experimenting with both of those hardware wallets, so I have not really concluded whether one might be preferable to the other - and I may want to play around with the Trezor2 when it comes out. Hardware wallets seem like a decent way to spend some bitcoin profits - for the level of security and usability that they seem to offer. |
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“In 2013 the central bank in Germany said it wanted its gold back from the UK, France and the US. Here’s the thing, Germany does not want all of its gold back.” “As it is going through its election cycle, there are specific factions of the German government that are pushing to get German gold back to domestically being held. The German elections are in mid-September, it is not a coincidence that this happened just before that. It was to appease political dynamics as well as leasing development of gold “Bitcoin is a very small market cap compared to gold. I don’t think it has much impact on gold and looks like a bubble right now.” “As someone who has been around Wall Street a long time I’ve seen a lot of different tricks of the trade and frauds that come and go. I am seeing all of the various schemes in bitcoin right now. There’s good forensic evidence that there are people doing wash sales right now and the suckers don’t know they are getting sucked in. Gold is still the ultimate safe haven   “I expect to see gold hit $5,000 and eventually to $10,000 an ounce. Maybe not tomorrow or a couple of years but that is the fundamental price of gold as money.” “In a recent conversation with legendary commodity investor Jim Rogers he indicated to me was, ‘nothing goes to that level without a 50% retracing before it resumes its path upwards.’ Moves happen very fast. The question is, what are the catalysts that could take it higher?” People can and should be allowed to buy bitcoin, but the US Government will in time call them traitors, or terrorists, and seize their assets.  How much is your BTC worth in Huston BTW. ... best You are really pie in the sky if you think that Gold is going to appreciate better than BTC in the coming years. Sure, anything can happen, but you are not being very practical or logical if you believe that various governments can more easily control the movement, storage and hoardings of bitcoin as compared with gold. If I have a million in gold? versus if I have a million in bitcoin? bitcoin seems to be much more divisible, portable, lower storage costs, easier to hide (obscure and secure), and even verifiably transparent in terms of getting what you are getting... so sure, you can uptalk gold all you like, but it just does not seem convincing - haven't various governments already made attempts at regulating bitcoin, and they are having some difficulties - not that they are going to discontinue trying, but bitcoin continues as a bit of a puzzle for them in how to deal with it, exactly. It seems quite strange that we continue to have goldbugs coming into these bitcoin threads with their hard-ons for gold and pms, and holy fuck has bitcoin been outperforming pms in the past couple of years... holy fuck, holy fuck!!! |
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I wish. I had to pay an exorbitant 6.8% buy fee but at least I seem to have caught the bottom (for now). Just a few hundred bucks worth but everything helps.
If it goes back down below $4.45k I'll do it again.
Jimbo: Do you keep track of your average cost per BTC? Since you buy and never sell your average cost per BTC must be going up and up and up? I understand that you started buying in the double digits (or at least I recall that), and I think that you responded to this kind of question from me previously, so sorry about the redundancy. I do believe that your system does go to show (even with various fees) that you can come out much ahead, even by employing a BTC hodl and accumulation strategy without selling (except maybe selling when it comes time that you really feel that you need to cash out of some of those babies) Recall that I started buying at $1200 in late 2013, and after about two years of buying at lower prices, my average price per BTC dropped to a bit more than $500. It could have been much lower, except I had blown a larger portion of my wadd at buying in the $600 and $400 price territories while experiencing some quasi-unexpected cash flow issues in 2015... Thereafter, starting in late 2015 I engaged in trading that employed a good system of buying back with money that I had gained in selling, and largely brought my BTC stash up while bringing my average cost per BTC down to below $400 by early 2017. There seems to be some advantages to limiting your interactions and using paper storage because my keeping some coins on exchanges has resulted in various losses through hacker sophistication to get into my personal credentials and also through exchange vulnerabilities, so sometimes these kinds of exchange related losses and interacting by sending BTC around can end up taking away some BTC profits to lower the total amount of bitcoins held and/or raise the average cost per BTC. I think that the punchline for me, is that my total number of BTC is lower than it had been in late 2015 because of losses - but my average cost per BTC is less (at least in the $400-ish territory), but mostly due to BTC price appreciation of selling higher and buying lower - even though I am buying back at much higher prices than my average, my average price per BTC keeps going down because I am selling at prices higher than I buy. Your system seems much more hands off, even though you run out in your pajamas at 2 in the morning. hahahahaha |
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Whoever dumped, many thanks for the cheap coins. Keep the good work!
<gribble> Bitstamp | Total bids: 46034286 USD. Total asks: 1994 BTC. Ratio: 23074.89489 USD/BTC. | Data vintage: 0.0156 seconds
The buy side is hitting record highs every other day. I can't possibly figure out why someone would want to sell significant sums at this point, unless they're trying to game the market. There will be a lot of hurt people who sold this year. I think some people have preset exit points, such as when it reaches just under $5k, I'll sell x% which will allow me to say buy a car, or pay off my mortgage. People have learnt from previous points ($1k) and decided to set their price point slightly under the round figure of $5k, I bet when we get near $10, people wil have learnt from the $5K dumps and start even earlier. Everyone knows that it will probably go up, but when you hit a life changing price target, you'd be mad to continue taking 100% risk. But I'm still all in. It is good to take some profits along the way, and whether you use that money to buy back in or to buy a new car is up to you. Accordingly, we are approaching 20x profits in less than 2 years, and it would be less prudent not to take a little bit out. I personally believe that it is a better practice to deal in increments rather than engaging in a large chunk, but I do understand that taking a large chunk would be more manageable. Let's say, for example, that someone bought $10k worth at $250 and never took any profits. At today's price, that would be about $190k... anyhow each of us have our thresholds, and I could appreciate if people decide to wait, also. |
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Theses exchange fees are killing me...
One good trade (good profit), three bad trades (buy/sell at same value), and here I'm lower than where I started...
The trick is to try not to guess the short term direction of the market because that is nearly an impossible task; however, you should consider whether you believe we are in a bear market or a bull market - and even to have an assumption (hopefully based on knowledge) that in the long term, BTC prices are going up. In essence, buy BTC on the way down and sell BTC on the way up; however, play with small enough amounts that you do not care if your sales get left behind - so for example, I sell approximately 1% of my BTC holdings for every 10% that the price goes up, and currently I do it in $100 increments. You can tweak these increment matters or amount that you play with and work out a system that works for you, but your increments have to be sufficiently large to pay for exchange fees, so generally if the fees are .2% on each end, then your total fees are .4% to perform a buy and a sell. There are not too many reasons to create buy/sell increments that are less than 1% (unless maybe you are just covering a mistake that you made - like when you had accidentally bought when you meant to sell or the opposite) because even with a 1% profit, your real profits after account for the fees would only be .6%. |
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Who sold at the bottom?
Is that the 969th time you've posted that?  Hahahahaha Ted E. Bare does seem to have a few favorite posting themes. |
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Volume needs to pick up
Why? If price is going up on low volume, there is not a problem with that, is there? If volume picks up, then that means the battle is more intense, but it is not necessarily a good thing, or do you have a better theory? |
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The story is that he lost 700000 XMR worth about 20500 XBT on his Apple laptop. I am not a fan of Apple and its EULA's but this has to be a record for a click on "I agree".
wtf has apple to do with it? Probably nothing. As I recall, he had a bunch of people over and overlooked the most basic aspects of physical security. Then again, I may be misrememberating. Not good to make fun of the misfortunes of others; however, I recall that Risto had some other drama a few years earlier, too... something about leaving his laptop in a conference room of a hotel and then the laptop went missing with thousands of bitcoins. Isn't this a repeating theme with Risto, and if it were to happen once, then wouldn't additional security measures be taken in order to not have a similar scenario unfold a second time? I think that is the incident to which I was referring. Though I think it was in the sauna at his place during an event with many invitees. I may be befuddled on the deets. Actually, do you know how rumors can be evolve their own legs when they get batted around long enough, and it is like the game "telephone" where the last message is no where close to the first message. It is certainly true that Risto has had a lot of drama including losing bitcoins, buying a castle, getting involved in monero, getting a divorce, being supposedly chased by the government.. and some kind of online gaming, too, so yeah, it is not very clear regarding the extent to which some of these stories might overlap, and he has been a bit of a drama queen, too, including some photos that he circulated on the internet of his personal circumstances, and even personal details that may or may not be completely true. He has also had some incidents of health problems including psychiatric treatment, and I recall one time trying to suggest that he take better care of his health, because I saw a picture of him with a cigar and he looked really pale and unhealthy and lacking in athleticism - for a fairly young guy. Anyhow, the laptop losing incident in the conference/hotel/sauna predated his getting involved in Monero, so if he really did lose a bunch of Monero, then that may have been a separate incident? I believe that the hotel/sauna/conference loss, even though substantial, did not leave him in any kind of state of poverty, because, I think that he bought the castle after that with bitcoins... and maybe in the end, he tries to be a big baller and we know the expression that a fool and his money are soon parted... and if you are engaging in a lot of this kind of drama, then you are likely going to have trouble hanging onto wealth, unless you have someone managing your money for you, such as a trust. |
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Only 2050 Bitcoin left on Bitstamp until we reach over 9000$.
Edit: And my friends and relatives are still waiting for the <3000$ dip...
Sorry about that!!!! YOU will have to support them, with your millions... hahahahaha |
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edit: this is obscene. it takes 60 minutes and I make my exact initial investment. was there ever an asset one could buy where one would make his initial investment not in a year, not in a month, not even in a day, BUT IN A FUCKIN HOUR? those were my live savings ffs!
I know that feeling as well. Absurd times we're living in. It is really nice for us long time HODLRs and BTC accumulators to be sitting in the bird seat. Also better to be a long way into the black rather than in the red. I recall periods in 2015 that my total BTC investment had sunk into the negative 65% territory. So, nice to be in the greater than 8x territory (even accounting very conservatively). Sure, I made some mistakes with my BTC holdings over the years, which caused me some considerable losses of coins; however, even accounting for my various losses of coin, I continue to be quite amazed at how frequently i am experiencing another total return of my initial investment within a short period of time (including the cost of my losses, my mistakes and expenses).... So, now, a $500 price change can take place a lot easier than such change did when prices were at $500. In other words, a 10% price change is much easier to achieve than a 50% to a 100% price change... I understand that we should be considering these price change matters in terms of percentages; however, sometimes it is also helpful to consider profits in terms of absolute numbers. If we are holding a certain number of coins, it is quite exciting to see how BTC prices quickly change by $100 to $500 these days, but does not constitute a major percentage of change in price. but can still feel like a considerable change in the value of total holdings. Even though a considerable amount of value is lost on paper with a 50% to 75% price reduction, I am not going to panic if such a price correction were to occur because I am still good with bitcoin prices above $1k, which seems less and less likely to happen in the short term - even though we were just in the $1000 territory around christmas time last year... Even $2k seems a bit difficult to achieve, even though we were just there less than 2 months ago. I am kind of thinking that our absolute floor might be around $2500.. but going up to $5900 first... so a bit more than 50% correction would still be possible and even reasonable under a kind of extended dumping campaign. |
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Can someone Tell me for bitcoins sake!!! Whats happening with the price  Above $5000 Damn were going up! New ath on kraken And keeps going Sure, nothing is guaranteed, even though there seems to be decent ongoing upwards price momentum and upwards price pressures. I'm kind of thinking that we have decent odds to get into the $5400 to $6400 range within this particular upwards run (and possibly within the coming week, if not the weekend) - but a major and significant price correction could happen at any time and end up forestalling such anticipated price range for a month or longer. I doubt that anyone really knows, except perhaps some whales who have a pretty decent idea regarding how much coin or fiat they hold and are willing to spend at these price points. For example, there could be some bear that is willing to dump 50k or more coins across exchanges - and whether that would be enough to get others to follow in such a dump is a question of not knowing - and that bear (or bears) could have more coins that they are willing to dump in order to get their way to attempt to stagnate or to reverse the ongoing upwards price pressures.. but at this point, it seems like such bear would be fighting what appears to be "the trend.".. the trend is your friend, the trend is your friend... ... |
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Maybe I'm very optimistic, but I think bitcoin will again surprise those who today see the price of $ 500K as impossible.
$500,000/BTC is very close to the point where the market cap would equal the market cap of gold. At least in today's dollars. I really don't see any scenario where we could go higher in real terms. Of course, we could (probably will) have runaway inflation of the USD. Such could result in a dollar price above this, But I personally don't see a scenario where the totality of bitcoin becomes valued as higher than the totality of gold. I'd be happy to be surprised in this manner, however. It seems strange that you want to intellectually (and theoretically) limit the growth potential of bitcoin based on another artificial value construct. Maybe I don't understand your manner of speech. I don't want to limit it. I just don't see what would drive the total value of Bitcoin -- as seen by the world at large -- past that of gold. Maybe. I've just not envisioned how that might occur. Well, isn't it the same thing if we call something a "theoretical limit" or if we say that we "cannot imagine any scenario in which"? there is no need to get caught upon semantics, and if you cannot envision such scenarios, then so be it. No matter what $500k per bitcoin does seem to be quite a way into the future, even if it were to occur. $500k per BTC would have to go through considerably more levels of adoption and even to sustain decent periods of price support at lower levels... From here, I can imagine such 10x and then another 10x.. and then another 10x taking place in a matter of less than 3 years in a kind of best case scenario, but yeah, I certainly am not relying on any kind of $500k scenario in order to be happy because I have already done quite well for myself with BTC prices approaching $5k, and even with BTC prices at $1k, I would be in a decent position and beyond the price performance of any traditional investment that I have gotten into (such as various index funds - that seem to perform at about an average of 6% annually in the best of longer term scenarios)... So currently, there seems to be a lot of cushion in BTC prices for those of us who have been into BTC for a while - but still it seems that we could even experience more wealth appreciation, and we are going to have to consider various means in order to secure our holdings for these possible very bullish scenarios that seem a hell-of-a-lot more likely now, as compared to a couple of years ago when we were stuck in the $200s for nearly a year. Whether $500k btc happens or not, it sure is nice to already be decently into this baby and decently into profits, no? For people newly coming into bitcoin, I have been recommending similar strategies of some variation of dollar cost averaging - however, the more probable that one believes $500k, the more willing that the person might invest a bit more aggressively now or upon any price dips. |
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The story is that he lost 700000 XMR worth about 20500 XBT on his Apple laptop. I am not a fan of Apple and its EULA's but this has to be a record for a click on "I agree".
wtf has apple to do with it? Probably nothing. As I recall, he had a bunch of people over and overlooked the most basic aspects of physical security. Then again, I may be misrememberating. Not good to make fun of the misfortunes of others; however, I recall that Risto had some other drama a few years earlier, too... something about leaving his laptop in a conference room of a hotel and then the laptop went missing with thousands of bitcoins. Isn't this a repeating theme with Risto, and if it were to happen once, then wouldn't additional security measures be taken in order to not have a similar scenario unfold a second time? |
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Maybe I'm very optimistic, but I think bitcoin will again surprise those who today see the price of $ 500K as impossible.
$500,000/BTC is very close to the point where the market cap would equal the market cap of gold. At least in today's dollars. I really don't see any scenario where we could go higher in real terms. Of course, we could (probably will) have runaway inflation of the USD. Such could result in a dollar price above this, But I personally don't see a scenario where the totality of bitcoin becomes valued as higher than the totality of gold. I'd be happy to be surprised in this manner, however. It seems strange that you want to intellectually (and theoretically) limit the growth potential of bitcoin based on another artificial value construct. They are both artificial; however, yeah, if we were to go back to the days of the caveman, then gold would become more valuable - but what are the likely Armageddon scenarios of that? So, yeah, armageddon ideas may be in the consciousness of people, but if we think in terms of practicality, bitcoin has a lot of features that gold just does not have.. including ease of divisibility, transparency, portability, so even if true, it will likely take a while for bitcoin to catch up to gold's market cap (if it does), but I really think that you are being too pie in the sky artificial, random and arbitrary, if you really truly believe that the theoretical limit of bitcoin is your seemingly arbitrarily selected ceiling of gold's market cap. |
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i believe $15000 is very possible ,and we will get there not very soon, maybe a lot of pumps and dumps ,but anyway , it is a longterm investment, maybe oneday we do not need to sell bitcoin anymore ,it can use everywhere just like dollars.
The person behind this prediction, i.e.; masterluc is known for his predictions since the 2013 gain and drop in price and I believe there's nothing wrong in believing because it was optimistic people's belief only which took Bitcoins to survive and succeed and nothing can succeed without hope. Bitcoin has always proved to be the most awful yet best method to earn money over your money by investing it into money itself. There is no reason to deify anyone or their predictions, and we are not coming to these kinds of predictions based on hope. There is a kind of logic that goes along with any market that has adoption curves, price pressure points, networking effects which results in probable outcomes - including periods of exponential growth. Whether the dynamics and fundamentals of the asset (bitcoin in this case) or the market momentum are strong enough to bring the price 2x, or 5x or 15x or 25x might be difficult to determine with any kind of precision. Sure, it is not a bad idea to have a specific price target, such as $15k, but it is probably safer to predict in terms of a likely range - and maybe $15k happens to be in the middle of that range - such as predicting the top of this particular price run up to be between $14k and $16k, because no one can know with any certainty, and if they happen to get the number exactly correct, then that is likely more a product of luck rather than their having any kind of clairvoyance on that particular topic. |
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hahahahaha
That was the one of the later memes provided by Lauda that was intended to stave off any kind of need for additional updates in the near future.
I thought that there was an intermediate meme that was posted late 2016 or early 2017 that was a bit less ambitious maybe topping off its price in the $10k arena, rather than in the $100k arena... ?
This was the first one, but the price went up so fast so we needed to have an update which can last for years untill we break the $100k  During the brutal bear market, buying those ''depressing'' sub $200-$700 range coins was indeed very nice  I was pretty sure that there were at least three of these.... the first one and then last one and there was one in the middle, but I cannot find it. |
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i believe $15000 is very possible ,and we will get there not very soon, maybe a lot of pumps and dumps ,but anyway , it is a longterm investment, maybe oneday we do not need to sell bitcoin anymore ,it can use everywhere just like dollars.
At this point, in order to reach $15k, we have to break above resistance in the $5400 to $6400 arena, which might not be too difficult, and we would have to break above resistance in the $8500 to $12500 arena, which would be a bit more difficult, but not impossible.... so $15k is possible in this price run and in this calendar year or soon thereafter. I would say less than a 20% chance within the upcoming year, and probably less than a 15% chance this calendar year. Of course, if prices break above the price points that I just mentioned, then the odds of reaching $15k become better, and if any price correction is larger or sustained, then the odds of reaching $15k in this price run up become lower. |
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Ok I've missed out on a lot of this increase. Just got back from hospital with our newborn baby boy. Shattered and on top of the world but also what makes it even better is a nice btc price!!
Now sleep.
Congrats, rjclarke... life goes on... And, yes, exciting times indeed, in bitcoinlandia..... |
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Thoughts for the weekend? I'm hoping for $5k+ by the end of it $10 off new ATH on stamp right now....let's go! Currently, I am thinking that breaking above $5k is going to likely cause prices in the $5400 territory; however, surely breaking above $5k is not "a given" - even though we seem to be witnessing decently strong continued ongoing upwards BTC price pressures. Already, exciting times, for sure, no matter what the outcome in the coming days (absent volume drying up to zero, which seems to not be too probable). |
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For some reason, almost ever entity that gets involved in BTC seems to want to create their own coin, and in the end, bitcoin is going to be the coin that is likely to rule them all, so maybe not a bad thing for all of these new coins to allow some levels of comfort to bring various persons and entities into crypto and subsequently into bitcoin. |
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