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I'm curious where you are at? That looks like about the same amount of snow we got here in Michigan...lol
Southern Illionis I'm in Chicago I had a feeling you were from somewhere close by. |
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No nobody had to assumed that this was going to happen. I doubt that the price would have dropped for like 50% if there was no bad news from China.
A 50% drop is very reasonable, compared to how much BTC has risen lately. It's painful for the people who bought high, but it provides an opportunity for more people to buy, which should ultimately take the price higher. You think that people will buy into something that loses 50% of its value in 2 days? It will take some time and stability to see funds flowing in again. apparently time is on our side bro  |
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So many drama queens...
Boy I tell ya  |
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The volatility of bitcoin is over the top. 5 days ago i thought of 600 as something impossible and now i 'll be happy if the price stabilizes around there.
I share this sentiment. |
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It wasn't that long ago that I bought at 700 and thought I got screwed on the price. These momentary dips only matters to people who think they can make a profit buying and selling and very recent buyers. Nothing new going on.
I hope you're correct this is my first crash. I bought in @ 750. Sold half @ 1150. Now I'm watching the other half of my investment freefall. I can't convince myself to under sell my coins. Am I a bear or a bull? Im from chicago so im a fan of both. If your going to suffer a coronary every time you have an unrealized loss, you should probably sell now, it will save you lots of stress. The pattern here is easy to figure out, those who have held for more than 6 months have never lost money. Ever. Those who get dis-illusioned by unrealized losses and shoot for greed and lower re-entry often lose the most out of anyone when their original position would have paid off 10 times higher. When it goes to $3,000/ BTC are you going to care if you bought at 750 or 500? Say you bought 10 coins @ 750 = 7500 .. you sold 5 @ 1150 = 5750 .. 7500 - 5750 = 1750 / 5 = 350$ .. you really think your going to get a cheaper entry price? Best you can do if watching the very short term is just buy it on the way down to dollar average the cost of building your supply back up and then your gains will be realized in actual BTC gains or just buying back in... say we reach 1587.59 in the next two weeks.. Smart man I was thinking that but GREED is like a common trait amongst humanity. Well, @ least Americans and Chinese maybe. |
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Entry point and exit points are going to vary from trade to trade, obviously.... But here is the general idea.
Once you've figured out the trading range for whatever period of time you are looking at (ie: if the price is steadily trading within 700-780, that is your trading range) you are ready to plan your trade. Pick an entry point near the bottom of your trading range, let's say 730 for the example trading range we've established. (I typically stay above the bottom number if my trading range to allow a cushion in case the price range starts to shift) You then need to establish an exit point...for our price range, I may select 750-760, again allowing a cushion at the top of the trading range. The trick is finding entry and exit points well within the established trading range to allow you room to breath in case the price starts to move outside of it. Also, it's preferable if the entrance and exit prices are close enough together to allow you to complete trades quickly (while still allowing a buffer to profit after fees). The last thing I do before entering the trade is figure out bailout points to preserve profit or cut losses in case the trade goes belly up. These bailout points are going to vary depending on where I am standing on profit for the day, the general state of the market, and how much risk I feel like taking that day.
Wash. Rinse. Repeat.
You just schooled every noob to the basics of trading.(Self included). I will now apply this in my btc management strategies from here on out thank you. I'm a semi-noob, but by the grace of God I've sidestepped a lot of "could be" tragedies. Up until now.Got swindled for .006 btc BIG DEAL!  |
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It wasn't that long ago that I bought at 700 and thought I got screwed on the price. These momentary dips only matters to people who think they can make a profit buying and selling and very recent buyers. Nothing new going on.
I hope you're correct this is my first crash. I bought in @ 750. Sold half @ 1150. Now I'm watching the other half of my investment freefall. I can't convince myself to under sell my coins. Am I a bear or a bull? Im from chicago so im a fan of both. |
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In a few hours  Looks like u were right |
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On this website you won't get a satoshi from begging like that.
But there are lots of ways you can get btc like gi eaways and advertising so that instead.
True I asked for .001 and people flipped out. If I had gotten a loan for .001 which is like a dollar I would've owed like 20 back because of the spike. Sell ur ass and buy bitsvwith the proceeds or you could get with an escort service that pays u in bitcoin LMAO. |
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0.003 ฿ has been donated
thanks quick i appreciate it.  |
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Bitcoins hit $1000 today at bitstamp at some point of time (so you might be little grateful for LBC for holding them for you  if you were able to sell at that point) . on a serious note that is weird,I used them few months ago and everything was very smooth. Perhaps they are doing this due to hacked accounts or to reduce BTC amount in the hot wallet? The Lord works in mysterious ways.AMEN |
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Damn high quality thread right here.
I sense this thread is full of Americans... I might be wrong though.
America does suck and I live here. LOL QUIT DISSIN MY THREAD THO LMAO |
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Users on Localbitcoins are complaining that there withdrawals are "pending" for over 6-8 hours. Then about another hour once it hits Blockchain.info I just tried to move my coins without knowing this because they had no announcement/warning whatsoever. It's been going on for like a week. I have purchased here many times but this is the straw. I hope they will eventually send my damn coins. my transaction has been pending for over 5 hours. Oh well, guess I will just sleep it off. Hopefully the transfer goes through and I wake to $1014=BTC on bitstamp. OPTIMISM |
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I went to Thailand last year. Best trip of my life.
did you go to Phuket before rihanna snitched on the whole island? |
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Its just competition, everyone wants to be in. But some are genuine improvement. And havn't you heard competition is good!!
I whole-heartedly agree w/ you on that. Competition is great. However I have an inkling that maybe one of the "Copycat Coins" or "CloneCoin" will make a substantial improvement to the Crypto currency infrastructure and render BTC "semi" obsolete but not completely. like DSL did 56k or cable did DSL. Maybe Altcoins will further enhance the anonymity aspects of Cryptocurrency as a whole being that most if not all of them have some sort of an exchange that lets you convert coin to other coin formats and fiats. This essentially extends bitcoin functionality, thus rendering competition as GREAT. |
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my dad blew 100k @ a casino when I was 14. Freshman year of high school I started shooting dice in gym class.
WON BIG. got hooked. Then 2 weeks later I lost my whole wad WITH MY DICE.
I then realized that I too had a gambling addiction.
Since then I haven't even Played the lottery.
I should have risked all my money on btc like 2 years ago though.
GREAT POST.
+1
/BUMP
When I was a kid, we ran in Gym... And what do you mean "Shooting Dice"? Is that Craps? craps and 3 dice cee-lo. we ran in middle school. In high school we played craps, smoked weed in the pool area and banged chics in the locker room. dad blew the private school money. LMAO I'm from the hood or "a heavily gentrified and sadly impoverished urban warzone known as Chi-Raq". (Chicago for the Superfluous grammar nazis and better-thans) We are savages but I am one the trained ones.~Not domesticated though. |
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Met another one last week
In East Asia, no less
nice, you're in east asia? are you backpacking/travelling? i envy you.. so cheap there. wish i had done it more when i had the chance. sounds like heaven to me.....never left the punk ass US in my life. iSUCK :'(LOL |
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www.soundcloud.com/nawtynadaCheck out my work all produced mixed and mastered by me I even wrote/performed most of the songs . Check it out. Splurgeosis is the first time anyone rapped about BTC. I don't doubt you are a musician, but what is your engineering degree? I am guessing it is in electrical engineering? I can't think of any other streams dealing with audio. I am studying electrical engineering + comp sci., so feel free to talk math with me (Give me a PM) I am a measly recording/mixing engineer of audio. Can't hold a candle to ur studies. Engineers of the calibre you are studying to become will build quantum crypto currencies and develop the warp core and advance the entire human race. I will be smoking purple kush and sipping lean while making beats for rappers who lie on every song and mislead the youth idiotic enough to listen. I will get paid. Just not as much as you and your R&D team will. LMAO |
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I feel like I just sinned and blasphemed while watching this. I need to go bathe in holy water now. -s just heard cosco files the bible as fiction now. LMAO. Finally someone with a sense of humor. good tunes people. I make beats with industrial sounds but didn't know it was it's own genre. |
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