Trading isn't for everyone. Beside, less than 10% of traders make money.
Not really. The Gox panic was a fairly easy shorting opportunity. Any idiot could have predicted prices would drop near the dec low. Also, the PBOC rumors of March-April were easy trading periods. |
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Countries banning bitcoin is a good sign, plus, it won't stop people dealing in bitcoin...
It is a bearish sign as it interferes with legitimate businesses dealing with bitcoin in those countries. Average joe sheeple in those places won't bother with bitcoin because they think it is illegal or shady. |
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And the fact that many developing countries are banning/restricting bitcoin (Bangladesh, China, Bolivia, Russia etc etc..). Many speculators hoped it would take off in the remittances market, but if this trend continues, bitcoin will be practically useless for remittances. |
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The ''buy and hold'' time is over for bitcoin.
Only way to make money in bitcoin now is to swing trade it.
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If this is meant to be some form of investment strategy then i can't take you seriously. I will share 2 reasons. No doubt the forum will add a few more.
1. 90% investment in cash. Cash isn't an investment at less than 1% return so unless you think every other form of investment is about to devalue, by comparision, then its like putting it under your bed.
2 Having 1% only in bitcoin. What is the point? bitcoin is high risk with high potential return. 1% suggests you don't believe in Bitcoin so why bother as when it flies off to the moon you will enjoy unprecedented returns on almost F! all!
Seems to me you are worried about losing more than making.
If your net worth is over a million, 1% in BTC is more than enough.  |
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Why short the S&P when there is absolutely no long term bearish confirmation (like a weekly EMA/MA crossover etc.).
There is a high probability you will get squeezed and the S&P will just continue to rally to 2100.
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Or around 400M, if you consider the gold equivalent. Or over 130 billion, if you consider the DOW equivalent. |
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BTC-e has high deposit fees (1%), this translates into less buying pressure. Hence, the price difference with exchanges with no deposit fees like Bitstamp and Bitfinex.
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This reminds me of gold bagholders who bought at the top and are still hoping for $10,000 per ounce of gold.
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In 2016 briefly after the next halving the next huge pump will commence.
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I think the opposite is happening, that the NSA or CIA is getting funding from the fed to keep bitcoin propped up so their project doesn't fail.
The real market value of bitcoin is much lower than what it is trading for now.
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Even if they accepted SEPA, they would probably implement a system similar to bitstamp which screws you on a bad forex conversion rate.
The cheapest way to transfer amounts under 25K euro is just to buy it on Kraken and then transfer it to your USD exchange of choice.
This gets even more painful from the UK - my choices to move cash to 'finex are an expensive international wire and a crappy GBP/USD exchange rate, or a somewhat less expensive SEPA transfer and a crappy GBP/EUR rate, followed by a crappy EUR/USD rate, and a trading fee each way going in/out of bitcoin plus any losses to slippage or price movements. First decent exchange with "Faster Payments" support gets my business forever... Another method is to convert your GBP/EUR to USD on your brokerage account at spot (no crappy rate), withdraw the USD to your bank account (if your bank has multi currency support), and then send those dollars to bitfinex for bitcoin trading. A bit more of a hassle, but it's cheaper and with the least amount of risk. |
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I thought so as well because I had a very short list some time ago but you were just lucky. The problem is still there and if you have a sizable offer it will get absolutely shredded. Yesterday my list blew up to over 500 entries because of one single offer. I cannot imagine how long the lists of people with significant sums on bitfinex must be.
Also: Congrats to BITFINEX! This thread was practically dead for nearly a week. This means that BFX is working very, very smoothly at the moment. I hope you guys keep innovating a bit though. Please think about adding Euro and SEPA. International Wire Transfar is a pain in the ass. I thought about transfering some more funds to bitfinex but the low interest rates in combination with the high conversion and bank fees make it not really worth it.
Even if they accepted SEPA, they would probably implement a system similar to bitstamp which screws you on a bad forex conversion rate. The cheapest way to transfer amounts under 25K euro is just to buy it on Kraken and then transfer it to your USD exchange of choice. |
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Many banks make annual profits that are higher than bitcoin's entire market cap. I doubt they feel like they 'missed the boat'.
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Your concept of "the worst year" its fundamentally flawed.
In fact, you're taking two arbitrary points in time and comparing the exchange rate of BTC vs the USD.
Just because theses points in time happen to be January 1st and December 31st doesn't add any fundamentally important information.
There have been longer time spans between a high and the next and there have been shorter ones.
It's all human psychology. People tend to categories financial performance in calendar years. If the calendar year performance to date is very good it creates more bullishness as it did in 2013, but as it looks weak like right now it increases bearish sentiment. Investors also frequently 'review' their trades at the end of the year more so than any other period. So, I wouldn't call those points completely arbitrary. |
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The EURUSD pair is a pump and dump scheme for billionaires.
It always drops to about 1.20 every couple of years only to retest 1.40 a few months later.
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nah, in 2011 Bitcoin was having a quick death (from $30 to $2), and in 2012 a slow death.
2011 was way worse, and yet you still had people saying "oh no dont buy even at 2, it will go to 0.1". Lol, idiots.
Nah, 2011 was still more bullish than 2014. Jan 2011 = $0.55 Sep 2011 = $3.25 ~500% gain Jan 2014 = $815 average Sep 2014 = $480 ~40% loss |
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Agreed on that the terms 'bull' and 'bear' do not fully capture the nuances of bitcoin traders' agenda. However, since the vast majority of bitcoin trading consists of mere speculation, it's easy to assume that most who are selling are bona fide bears who think their fiat will probably be worth more in the near future than bitcoin. Hence, all the high volume bear traps we have seen over the years.
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Some of you guys are just too greedy, imo.. Why expect something to go up by insane gains every year? It's actually healthier for bitcoin to consolidate around a certain price range before a next major leg up. This would make future holders more confident that they aren't buying something that has little buying support and could collapse any moment once momentum goes away.
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