Ofcourse everybody gets a little anxious with this correction. But let's be honest, we needed a correction in this bullish market in the past two weeks.
Why is it time to buy? - The weak hands are out and many 'stop-limit' orders have been triggered. - The earlier corrections also were about 30 to 50% without any big news. Perhaps you remember the 5k was reached and it dropped back to 3k? And last month almost 8k was reached and it pulled back to around 5k? - I'm pretty sure that the 10k barrier wouldn't be broken.
So if you can get your hands on some btc between 10-11k, I suggest you do it.
It's nice to see a newbie who actually gets it. Yesterday was indeed an excellent time to buy. It was our deepest dip of the year, barely surpassing the excellent buying opportunities in May and September. It was a great time to take profits in Bitcoin by selling fiat while it was peaking.
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Might I ask, "who sold at the bottom?" ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) That would be me... Not because I needed any money, not because it was a good time to sell. Mainly because I always seem to sell at the bottom, the market needed some turning around, and I was tired of everyone going WE'RE ALL GOING TO DIE in the MSM. So I took one for the team (and damn it seemed to work)... Thanks bro. You're a champ. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FpiBQyKR.jpg&t=663&c=-DSU5qAqJ7nFkw)
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Breaking 24777$ prediction game ...... 01/01/2018 elg 02/01/2018 wachtwoord 04/01/2018 d_eddie 05/01/2018 BTCMILLIONAIRE 06/01/2018 HanvanBitcoin 07/01/2018 ghandi .......
If 03/01/2018 is still available I'll take it please.
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Please stop spamming the forum by creating dozens of useless threads.
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The old bladder alarm did it again. No ATH nor buyable dip this time, just reaching $15k again so quickly after yesterday's correction/beartrap. I hope everybody stocked up at the bargain basement prices. Might I ask, "who sold at the bottom?" ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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May I please call bullshit on this entire thread?
This dip is not the biggest nor steepest dip in Bitcoin's short history.
Many long-term holders will remember the afternoon (UTC) of April 10, 2013 when the price fell by over 60% in less than 7 hours.
That dip from $266 to $105 was just the start of a 2 day drop all the way to $54.24, a drop of almost 80%.
It was a gut-wrenching experience for many, but some of us gained solace from remembering the crash from the Great Bitcoin Bubble of 2011 and how we eventually surged on to newer highs, and steadfastly held on to our coins.
This was long before the word "hodl" had been drunkenly coined after the second 2013 bubble. Anyone who hadn't learned to hold by then is a fool.
OP, get your facts straight before spewing nonsense.
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Good morning Bitcoinland.
I see I finally got my buying opportunity... currently $13252USD/$17019CAD (Bitcoinaverage).
It's a bloodbath all across cryptoland with Bitcoin suffering significantly less than most. As a result old coins are down to $15841USD/$20313CAD (Coinmarketcap).
Unfortunately my usual local ATM has gone crazy with insanely high buy fees and the nearest ATM with reasonable fees doesn't open for another 15 minutes.
Looks like I missed the bottom but this dip is still worth buying. I'd better get out and hail a cab so I can be there when they open their doors.
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Good morning Bitcoinland.
I see we dipped back down to where we were yesterday... currently $15730USD/$20023CAD (Bitcoinaverage).
AltCash and AltGold are also down so old coins are only worth $19253USD/$24544CAD (Coinmarketcap).
Was this a double bottom? $15k seems to be holding nicely.
Unless buy fees at my nearest ATM come down, I'm still not buying. The dip's not deep enough yet.
Yawn.
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I'll never understand why people have a problem with paper wallets. They're easy to use and and offer the ultimate in security.
Do you print them out on fireproof paper or something, lol? ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) "Paper" is just an expression. I prefer to keep mine in the form of encrypted JPG files, but some people have been known to engrave the 26-character alphanumeric keys into metal. Do you use asbestos paper to store the seed words for your Trezor or Ledger?
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Did your ATM let you withdraw 2 $2.5k transactions anonymously (without ID) a few weeks ago? I assumed you must have provided ID scans to get that kind of limit allowed.
No ID required. To maintain a daily limit for the purpose of AML laws, they require a cell phone on which you can receive text messages. To sell coins, you enter your cell number and they immediately text you a code number to enter into the ATM. This unlocks the ATM and allows you to do the transaction. After you have specified the amount of the transaction, it displays a QR code to scan with your mobile hot wallet. It then tells you to wait for the transaction to be confirmed by the network. I always include a priority fee and it has always been included in the next block. After it has been confirmed, it texts you and tells you to return to the ATM and tap "redeem". They then text you another code number. When you enter that number it immediately starts spitting out $100 bills. The time it takes for the whole process depends on the time it takes to confirm the TX. It has never taken me more than a half hour. The cell phone I use is an anonymous pay-as-you-go Speakout flip-phone from a 711 store. I have several of them (all free from promotions) in case I ever need to exceed my daily limit. Because Speakout allows free texting even when the time has run out, they cost nothing and are always available. The Android device I use for the Mycellium wallet to sweep a paper wallet and send the coins, is a cheapie Blu phone they were giving away for free for buying an air-time top-up in a holiday promotion a couple of years ago. To get Android to boot up I had to insert a SIM card but I found that a non-activated card worked just fine. The SIM card was also free in a promotion and fully anonymous. I connect to the network via free wifi from a donut shop next door. Of course the Android phone has never been connected to my home wifi nor been associated with my identity in any way. Needless to say, I never connect to Google or Playstore. I installed Mycellium from an APK file downloaded on a Windows PC from the Mycellium website. Buying coins is even easier. You simply tap "buy", scan the QR code for your paper wallet's public key, and start feeding in cash. No phones or devices required. I'll never understand why people have a problem with paper wallets. They're easy to use and and offer the ultimate in security.
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why not buy with online exchanges? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) I prefer the security and anonymity of OTC and ATMs. I learned my lesson with MtGox. Lost 50 coins. Never again. When I acquire coins, they go straight into offline cold storage, mostly paper wallets, although I do keep a small amount (less than 5 coins) in a Trezor for convenience. I don't ever want to expose my coins to the internet. I also resent nosiness. Anonymity is the cornerstone of freedom. Yes, ATM fees are usually higher than exchange fees but when you consider the cost of transferring fiat currency and the total lack of anonymity of online exchanges, it's a small price to pay. Whenever I have the chance to acquire coins for cash, anonymously, it's a bonus. I've met other Bitcoiners at meetups who I only know on a first name basis. I've also bought coins from storefront gold and coin dealers without divulging my name. They get their cash, I get my coins, no names required.
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JIMBOOOOO!!! To the ATM, rush!!! (buying commission must be pretty low too)
Actually, the buy fee didn't come down at all at my closest ATM. The price didn't really dip enough for my liking anyway. Dipping to where it was just a few short days ago isn't usually enough for me to buy. Between the high fees and the shallow dip it wasn't worth it for me. A couple of other machines offered better fees, but one is is a sketchy location and the other is too far outside my neighborhood. The cost of a cab would have negated any buying advantage considering the limited amount of fiat cash I have in hand at the moment. Even if I had more cash and raced over in a cab, I might have been too late anyway. The price has already come halfway back up. If it dips further and goes below $15k, I might be tempted to reallocate some funds to buy some more. For now however, I'll just hold.
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Long time no see bro. We were wondering if you were ok. Some of us made sporadic attempts to keep your bullish news thread alive. Welcome back. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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Jimbo on a rampage with forum bug. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Annoying as phuque. Kept going to cloudflare, kept retrying, kept getting that annoying "another reply has been posted you may wish to review" message, finally find out I'd posted the same message a half dozen times. I then wasted almost as much time deleting the extraneous messages. Perhaps Theymos should consider disabling that annoying message during DDoS attacks or other periods of stress on the servers.
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Good morning Bitcoinland. I see we had another massive correction all the way down to where we were on Saturday... currently $17868USD/$23010CAD (Bitcoinaverage). Meanwhile altcoins are up so our old coins are worth $20515USD/$26413CAD each (Coinmarketcap). Calm before the storm? Most of the traders are too emotional to make a real profit. The only way to prevent the bankruptcy is to learn to hodl. The usual scenario is like this: 1. Buy Bitcoin. 2. Bitcoin doesn't rise. 3. Some altcoin rises 50-100-300---% in 2-3 days. 4. What to do, what to do.. Ok let's sell the bitcoins with 10-30% loss. 5. Now let's buy altcoins 1,2, 3,... 6. Yupee, they rise 10%! I'm rich! 7. Oh, no!! They lose 10-20% in several minutes! I can't sell because the exchange is broken! 8. Finally, exchange is working. I'll wait to get back where I bought it. 9. Oh, no! Alts lose another 50-80%!!! 10. Ok, let's sell now! 11. Look, Bitcoin is 20% above the last ATH and 50% above I sold it! 12. I'll wait for the big crash to buy it again. In the meantime I will spread FUD in the forum. 13. Finally, Bitcoin is 10% less than the previous ATH but 100% above where I sold it! 14. Let's buy now. 14. Oh, no! Bitcoin is down 10% again. Go to step 3. Rinse and repeat.
Balance at the end of the year:0
Post of the year. I couldn't have said it better. Cheers.
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2017 could very well come to be remembered as the year of the altcoin fad, the year of "ICO"s and token-mania, the year leading to fortunes lost on dreams of rival cryptocurrencies.
Bitcoin will live on.
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The real question is: when will people start to realize that this is not a bubble?
Calling Bitcoin a bubble is like calling the internet or smartphones a fad.
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Congrats indeed. It's hard for newer Bitcoiners to even imagine when there were no exchanges or even an accepted monetary value to Bitcoin, when Bitcoin's value wasn't measured in units of fiat currencies but in its value as a disruptive technology. We've come a long way baby. We've also got a long way to go. Some day we'll look back at today's block size debates and tx fee angst as being as quaint as paying 10kBTC for a couple of pizzas because no one had ever applied a dollar value to Bitcoin before, or gaining an unprecedented mining advantage by using the massive parallelism of GPUs instead of the mere single, dual or quad core capabilities of CPUs. Will FPGAs even be remembered? What will the future bring? Obviously Satoshi foresaw that mining block rewards would, after a few halvings, be totally insufficient to support the network. Likewise he must have forseen the need for scaling solutions. One must wonder what he foresaw as future replacements. One thing that must be conceded is that Bitcoin has taken on a persona and will of its own, that it will continue to evolve organically and that people can contribute and participate, but no one can control Bitcoin. It is a truly world-changing phenomenon. _____ Thanks for posting those links. What a contrast. Genesis block... difficulty 1. LOL ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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A wee step backward for everything except the British pound sterling.
Coiling for the next jackpot. Go Bitcoin go.
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