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proudhon says now is the time to buy. he's been right before
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If proudhon is going bull, I'm selling all my BTC right now. bottom at $5.
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Nah, $50 is probably the bottom.
WHAT |
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I'm one of those people you mentioned having put everything I own into BTC. Took equity out of the house, sold a whole range of electronics, even furniture, and put it all in. edit: I bought in originally at 37 but more at various points all the way to 149. To average it all I'd say my overall buy-in price was 78 originally. I sold at $237 (on the way down from 266) Bought at $117 (on the way up from 105) Sold at 178 (on the way down from 194) and now I'm prepping to buy all back in in the $70 range. It'll be 100 sometime Monday. moral of the story: smart bulls always win, i-told-you-so bears dont earn crap. congrats  |
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I still can't dig up a definitive, official announcement date for LTC being hosted on MtGox. I keep hearing mixed stories
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That large 15,000+ new user queue on gox are users that want to BUY bitcoin. Not sell them lol. Just saying..  Hmm - what about those that want to withdraw their money? fools and their BTC shall soon be parted |
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if the price drops >=$100 in a crash, I'll:
1) still be in the green on my initial investment by 80%
2) buy SO many bitcoins, you don't even know
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i bought all in at 178 and happily holding. get in before 182 is another support in the rearview mirror
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you think gox is bad know, wait til it hosts BTC/LTC and LTC/USD
LTC/USD --> increased overall traffic
BTC/LTC --> increased "panic" exchanging as walls are approached, causing larger spike traffic during already high volume trading times.
in other words, gox is putting itself in its own grave
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LTC being added to mtgox would (in my opinion) affect BTC price as much or more than it would affect LTC price. The largest bitcoin exchange suddenly diversified, with even more traffic, and an easy route to move funds between two competing currencies in larger volumes than is possible with the btc-e user base? Perhaps the thread will be moved but I won't be the one to do it, this question is more valid than some of the spam rampant in this subforum.
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IRC has been abuzz with LTC soon to be hosted on MtGox.
I see five different scenarios:
1) The combined traffic of BTC and LTC users both on gox puts gox in its grave.
2) LTC moving to Mtgox causes a short spike in LTC price and short drop in BTC price as people can easily diversify using mtgox.
3) The price of both LTC and BTC stabilize at a lower level, because people could move BTC money into LTC when BTC drops, and vice versa for BTC when LTC drops
4) LTC being available on mtgox confuses new users and convinces them not to invest in either cryptocurrency
5) BTC and LTC are two different entities, and both will continue being traded with no price affect from Mtgox adding LTC
6) BTC up, LTC up (specifically as a result of LTC being added to MtGox)
any other speculation? I'll add alternate hypotheses to the poll.
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Props on putting your money where your mouth is. I'm much more conservatively invested (but not conservative by anyone's means following the recent run-up).
Well that is why I ask to put some perspective to that statement... I mean everything you have if you are living at home with mom probably isn't much. If you are married with kids, everything you have could be pretty stupid, regardless of the amount. i'm not going to advertise an exact amount for security reasons. lots of scammers and loose women out there, looking for cheap or free BTC
Mmmm...yeah....that.  we will see which strategy pays off more at the end of this ride. your critical cynicism versus my starry-eyed optimism. see you at $5000USD |
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I sold everything I own (worth selling, anyway-mostly electronics and furniture), took equity out of my house, and am putting money from my job into btc each week. I didn't take out loans, that way if I'm wrong, I only go to $0 and not negative with no way to pay back. But yeah, all aboard, see y'all at $5000USD
Just to put some perspective on this... How much USD have you exchanged for BTC? $100? $1,000? $10,000? i'm not going to advertise an exact amount for security reasons. lots of scammers and loose women out there, looking for cheap or free BTC |
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Any of you guys read Jacob Fisker Lund's blog before he stopped being early retired? Basically he made about $40,000 a year as a grad student, lived on about $7,000 a year and saved the rest for 5 years before becoming financially independent. Seems like he could have done it in two years if bitcoin had been in the picture. http://earlyretirementextreme.com/I've had this vision of selling all one's possessions for bitcoin, getting down to just what would fit in a backpack and travelling the world for 3-5 years waiting for full valuation to arrive. Yes I read it a couple of years back, it opened my eyes (further) for the possibilities.
The question is how many coins would it take to retire in 5 years? 25 probably isn't going to be enough. 100 on the other hand and you'd be set for life. Each coin would probably be $50,000. If you have 100 then thats like having a salary of $50,000 per year for the rest of your life, you can retire with 100BTC. You can't retire with 25 BTC unless you're in your 50s-60s.
Please do not assume $50000 per coin. That requires a valuation of ~1T$ which is a lot (I'm assuming 4-6-2013 US $ wrt buying power). Of course one can't help but dream 1T$ isn't really a lot. $5000 per coin is reasonable over the next 12-24 months. It probably will hit $5000 by Jan 2014. So I presume you maxed out all loaning possibilities and are working 3 or 4 jobs at the same time to make as much money as possible and buy coins at these prices? If you do this, and your premise is correct, you won't have to work anymore after that. In fact, you'll probably never have to doubt about any purchase ever. And if you recalculate the hourly wages this based on you projected 12-24 month Bitcoin appreciation the rates will be immensely high. I sold everything I own (worth selling, anyway-mostly electronics and furniture), took equity out of my house, and am putting money from my job into btc each week. I didn't take out loans, that way if I'm wrong, I only go to $0 and not negative with no way to pay back. But yeah, all aboard, see y'all at $5000USD |
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Not just worth a few cents, it rose to almost $6 over the last week! ahah
compared to bitcoin, just a few cents |
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so if the whole bitcoin is starting to get traction and businesses are just waking up to it and some are excepting it as payment (kinda the point) then what is the point of another cryptocurency? "Hi we accept cash, visa, mastercard, debt card, amex, paypall, bitcoin, and bitcoin lite, oh and three other new types of crypto currency that my boss has no idea how it works. " come on what can you buy with that? even sr only has one form of payment. ok its true i know next to nothing about the new one so can some one shed some "light" on the subject,  as i understand it, litecoin is for all those people who weren't first adopters of bitcoins but still want to make their millions by mining a young cryptocurrency. Apparently, there are enough of those kinds of people out there that litecoin has started to actually be worth a few cents. |
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I sold a kidney for BTC, money baby money!
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These are some excellent speculative points. I wonder how your analysis will affect the price in the future. Ya know, since this is the speculation forum, and stuff.
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a fool and his ASIC shall soon be parted
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i'm selling my computer to buy more BTC
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