First of all, whored, you substantively changed my quote, which is a bit disingenuous.

Second, you can be amazed as you like regarding various centralized credit card services that you use, and you should continue to use them because they are going to provide some benefits that bitcoin does not currently provide....  No one is telling you not to use various services that bring a large number of benefits to you. 

Third, my main point is to assert that bitcoin also provides a lot of amazement, and it may not be the same kinds of amazements of other centralized services, but it is still amazing in a variety of innovative ways... that may or may not be exactly comparable, but can be individualized in a variety of "amazing" ways that are likely going to become even more "amazing" with the passage of time and the continued development of the space... that's part of the reason why when you zoom out on bitcoin's price performance you seem "amazing" price growth, apparently current upward price pressures, and seemingly likely ongoing upward price movements that will be seen in the future.

You can choose your own destiny regarding the extent to which, or not, that you invest into bitcoin.. or you can choose to go around touting various centralized systems... not a big deal, and sure bitcoin may well be absorbing some of those advantages that you tout to the extent that it needs to - even though it may well offer other advantages that exceed the supposed "amazing" ones that you are currently enjoying through your various credit card systems (that I currently use, too, and many of us likely use some of those credit card services)

I agree with almost everything you say, rOach; however, I would hardly characterize $420 as a "LONG TIME" floor.

For almost a year (late 2014 and through a lot of 2015), we did witness $220-ish as a kind of floor that was infrequently breached.

After the price spike from $230-ish to $500 (from August 2015 to November 2015), there was a period of finding the new floor, and I would argue that to had become, largely, floating in the range of $360 to $460, and we are still in that floating.. but slowly floating upwards in that range and likely to break out of that range.  The NOT priced in nature of the halvening is likely only part of the story concerning why we are soon on the precipice of a 5x to 10x bubble, which could actually take a year or so to play out.... and then likely bring us into the range of having a floor in the $2k territory...

Anyhow, I largely agree with you, rOach, and surely none of us have crystal balls that actually work...  .

I wonder why I get the sense that you are a bit of a drama queen.  You came on here previously with your supposed delayed transmission drama, and without really providing too many details..... but seem to be wanting to claim some hype in respects to supposed delays and presumptions that bitcoin is broken in some manner.

Really, do we want to build in some kind of presumption that bitcoin is going to currently compete with credit cards in terms of speed or in terms of someone taking responsibility in the event that something goes wrong with our transaction?

 Bitcoin is a bit of a different beast, but it seems quite unfair to suggest that bitcoin is serving the same purpose as some other quick value transformation mechanism.. at this stage in it's existence... Accordingly, security should be much more important than speed - especially when the blockchain is security at least $7 billion in value, and likely in the fairly near future will be securing close to $100billion... In that regard, we don't want bitcoin to be taking any shortcuts in order to appease some complainers who seem to be expecting too much too quickly.

Your post caused me to look up block average size and median transaction time (with fees) on blockchain.info charts, and I saw that blocks appear to be pretty full (about 90% average), yet average confirmation time with fees seems reasonable (at about 10 minutes).

Coincidentally, I sent a transaction of about 1.6 BTC (about $740), and I included a .00007241 BTC fee (about $.03), and it went through high priority and in 13 minutes.  That is quite amazing, if you really think about it, and I would remain amazed if the fee was a bit higher (double or triple) and/or if the transaction time took longer (an hour or so).. but yeah, I kind of enjoy low fees and quick transaction times, and in the coming months we are probably going to experience more of this good stuffs with the activation of seg wit and various developments of seg wit.

I don't think so... we gotta make it through $467 -ish first... and upon breaking such resistance don't aim so low..... because once we make it through the $467 to $475 price range, then likely we are going to move fairly easily into the $600s... and likely skip right through the $500's.... and any implications that you make regarding possible resistance at $500....

Nonetheless,  I'm not giving investment advice because there are no guarantees in life, but surely probabilities seem to be in such favorable status as I describe above.. and accordingly, we each need to consider that the trend is our friend, and we won't be wanting to buck trends, once they are in process....   whalebears and whalebulls are capable of bucking trends; however, when they play such cards, they have to employ considerable capital in order to either reverse trends or to dampen them.

I think that part of the trick, whether it is trading or buying and hodling, you need to invest only as much as you are able to set aside and not schedule it in as part of your budgeting - because if you need to cash out of a certain portion of your bitcoin on a set schedule - then you have likely invested more than you can reasonably afford to invest.

In other words, you need to be able to cash out completely on your own terms and on your own timing, rather than being forced to cash out at a particular time.  For example, I began investing in late 2013, and I recall in early 2015, I had some cash flow issues and I was not able to buy bitcoin for a few months, - retrospectively right while bitcoin was at its low point.  I did not want to cash any of them in because my total bitcoin portfolio was in the red.. so I purposefully figured out a way to meet all of my cashflow issues, during that period, without selling any bitcoin (retrospectively realized to be at the bottom).

Yes.... real people have feelings.... even though I believe that it is a good practice to attempt to remove some of those feelings from trading... yet in the end, any of us can get worked up with our own expectations.... and that is where the "dear santa" comes in, or to whomever is our spiritual guide.   

If we go below $400, I may start to get worried...   I am not sure whether I am going to cry at that point because at the moment, I have enough fiat budgeted to go down to $380, but that kind of extensive downward price movement would be a bit deflating for me, especially since there have been several unsuccessful attempts in the past couple of months to go below $400, and it was beginning to feel as if we had gotten passed that $400 price point.. at least absent some kind of catastrophe. 

In any event, it seems that if we were to be heading in the sub $400 price territory, then we would likely not go straight down, and I would be able to buy and sell a bit in order to prepare my holdings a little bit before we were to arrive below $400 and in order to prepare further for possible worse scenarios and delays in the choo choo MF..   

How many bitcoin's do you think that a person needs to consistently make 10BTC per week (anywhere between 50BTC and 200BTC or more?)?

Do you believe that 10BTC is a steady amount of income or was the 10BTC a one-time fluke.. in other words, does the income vary?  What would be the weekly average of such a person over a 6 month or longer period of time, is it 10BTC or a considerably smaller number, something like 1 to 5 BTC?

Is this BTC trader person using automated trading, investing in alts and/or overall how many hours per week does it take this person to make 10BTC per week?  Skill level?

I have quite a few doubts about any "normal" person in these times being able to consistently make 10BTC per week..... even though on a fluke some persons may be able to once in a while earn that amount of bitcoin in a week.  Can we define a "normal" serious trader of bitcoin, who is attempting to make a living off of bitcoin, as someone who may be in the ball park of owning anywhere between 50 BTC and 200BTC or some combination of trading currencies of about that level of value?  or are you thinking of another kind of person?

I have my reservations regarding whether this is the "last" pre-$500 "shakeout."


Bitcoin frequently overshoots, so we gotta be prepared for that...

I mean the potential for more downward price pressures remains because we don't really know how many coins are in the hands of various bearwhales (and if they haven't all gone into hybernation, yet?).....

And actually, the latest couple of downward pushes (in the past 12 hours) have caused only an incremental (maybe average) levels of volume... We still have not gotten anywhere near our August 2015 to December 2015 trade volume levels, but maybe the actual volume increases will come after getting into the $600's, perhaps? 

Yeah... we are all speculating here, including myself.... yet on a personal level, I feel a bit better about jiggering my BTC portfolio after this latest volatility episode.. even though I frequently get a bit nervous when prices are moving a bit quicker and farther than I had expected in one direction or another, and I am trying to figure out when to pull the buy/sell trigger or the extent to which to attempt a further reconfiguration of my allocations.

LOOK



AT


YOU...................



Planning to cash out.


 

Probably it is healthy to get a correction before passing more solidly into the $470s... It seems that we had more than $40 upwards without any meaningful correction.

Now, let's see how many days... or maybe hours, it will take to return to the $467 and whether there is a break through, this time?

You only generally referred to your plan, but really, after reading several comments in this thread, I would like to mention dollar cost averaging. 

In essence, if our presumption is that bitcoin prices are going to appreciate in the long run, then we just need to consider a plan that allows us to invest on a regular basis, whether that be daily, weekly,  monthly or some other variation.  We can just have a set amount such as $10 or $20.. or whatever is affordable to our budget and invest it every week no matter what BTC's price at that moment.

Personally, I have been in bitcoin since November 2013, and I used a variation of the dollar cost average method in order to accumulate coins; however, starting in about October 2015, I considered that I would also begin to trade.  I've been trading since October 2015.  Actually, I could have started trading earlier; however, for me, trading did not make a lot of sense before that time because I had considered that I was still in my BTC "accumulation phase." 

Once i felt that I had accumulated enough coins, then I formulated a personalized trading plan that I considered would be good for me, and really accounted for the number of coins that I had accumulated over the previous almost 2 years.


Since I began trading, I did accumulate a few more coins through both trading and through continuing to throw some additional money into bitcoin (but really accumulation was less of my direct concern, even though I continued to consider that accumulating more coins was a good thing whether I earned them through trading or by buying a few more with some extra cash flow).

Surely, BTC price appreciation in the future will help my overall BTC profits, but my current state of affairs seems o.k. too, because trading helps to prepare a person's total BTC portfolio for both future upwards or downwards price movements. Currently, as I type, my total BTC investment portfolio is apportioned with about 92.5% BTC and about 7.5% fiat.  I'm feeling good about that and better than having a BTC portfolio that was 100% BTC (which was the case during my buy, HODL and accumulation phase).

You cannot really plan profits per day when it comes to trading because you wouldn't likely be able to be consistent.  Of course, you make money on volatility, and some days are more volatile than others.

In essence you may be able to average a certain level of profits in trading, but in order to even earn .1BTC per day, you need a lot of skill, lots of capital or a lot of luck.  I personally would attempt to employ capital and skill, and hope for some luck, but do not rely on the luck part.

If you put the right kinds of systems in place and you stack your bets, some of the luck will come to you because you have prepared your BTC investment portfolio for the luck.

Yeah, but what do dentists think?

Sure.  I am of a similar mind.  Likely, if we have both dollars and bitcoins, then we would spend the dollars first because they are less likely to appreciate in value, yet nonetheless, since bitcoin remains volatile, we have to pay attention to how much resources we have allocated towards it.  Let's say for example if someone is going to pay us $1,000 in rent (or something like that)... If we need the $1,000 to pay the various associated bills that are also in dollars, we may chose to not convert it to bitcoin.... receive it in dollars and spend it.  However, as bitcoin grows, there may be more benefits to keeping a higher percentage of our weekly and monthly cashflow in bitcoin and then cashing out as we need it... but still need to keep in mind volatility until that settles down to some extent.

I am expecting more settling of volatility with a higher market cap, which means we likely have to witness additional volatility until we get to 10x or 100x or even 1,000x or more of the current $7billion market cap.   Non volatility of bitcoin will not be coming anytime soon (at least not in the next 5-10 years, it seems to me).







Action 24/7 has its plusses and minuses, and sometimes too much action causes me to lose sleep... 

I really have no insider ideas regarding the odds of price movement in either direction, but we should acknowledge that we got to the $470 resistance point a lot quicker than a lot of us considered to be likely... yet I still consider it a real decent possibility that we could get stuck somewhere in this price range for a few weeks like you suggested or even go down for a little while from here..   

From the information that I see, I cannot really figure out whether BTC prices are being manipulated upwards by a few cats or whether sellers have been running out of coins.... So, I would not put all of my chips on green, at this particular moment..., even though green is looking and feeling pretty good at this particular moment..... nonetheless, it is my view that anyone attempting to use BTC as value preservation and appreciation investment has to attempt to prepare ourselves as best as we can for either price direction.

Each of us have different BTC accumulation starting points... and even different expectations regarding how we accumulate or when we are going to sell, if ever.

Personally, I like upwards movement, but I don't mind stagnating a little while in order to accumulate a few more coins........ but yeah, up is definitely better for me... because I feel like I am in a fairly decent accumulated position.... in other words, I profit much more from upwards rather than downwards.... At this moment, my BTC investment portfolio is a little more than 92% in .... hahahaha 

An investment could be idiotic, too... that depends upon how the individual treats the asset.





You are not really saying anything contrary to what I am saying..... .likely because you don't really have anything to say... instead, you are wanting to get caught up on some meaningless detail/technicality in order to make some irrelevant point.     

The trolls are getting worried about what's gonna happen when we breach $480-ish...   

"Why rub it in?"   because you have no intention to engage in any kind of meaningful discussion about bitcoin.

By the way, the more you attempt to apply ideas to circumstances, the more experiences you are going to have, and yes there are scammers out there... so what?  What do scammers have to do with anything in particular?  In other words, are you attempting to make any meaningful point or just to clutter the thread with some kind of nonsense stream of consciousness discussions?




Why $1,200 is because that is the number that you sited that I bought at.  You cannot even follow the logical train of your own assertions?

People do a variety of things with their investments, and bitcoin is not an index fund... helrow? 

So, for example, if someone (such as me) invests in a volatile asset, then he may chose to take various precautionary measures to offset volatility on the downside (and or the upside).  Some of the volatility off-sets may go well, and some may not, and there may also be some learning along the way (hopefully)... I feel pretty good about my current bitcoin situation, given my starting point, my own situation, and where we are today, amongst some other things.






Your "gonna be a gent" because you do not really have anything to offer.  I do not have any sensitive feelings regarding these kinds of matters.  I choose what to disclose and what not to disclose, and you sir, that is if sir is appropriate, are merely trolling to attempt to get others to respond to your bullshit, while you are not really offering anything to meaningfully advance any topic(s) related to this thread... except to attempt to frame any quasi-relevant topic in distracting terms.

Your various assumptions are messed up...

yes, there is a lot of speculation in bitcoin.

yes, bitcoin is very volatile...

but it surely can be an investment (though probably dangerous, unless you are really young, to put too high a percentage of your assets into bitcoin)...

Anyhow, the extent to which it is incorporated as an "investment" is gonna have various outcomes depending on various individual approaches and their application of it to their own situations.

Yeah... trolling on the bitcoin train...


The trolls are coming with... .. maybe we will see some of them on the moon, if they were smart enuff to buy a few coynz..