Bitcoin Forum
June 28, 2016, 03:11:45 PM *
News: Latest stable version of Bitcoin Core: 0.12.1 [Torrent]
  Home Help Search Donate Login Register  
  Show Posts
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 [38] 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 ... 382 »
741  Economy / Speculation / Re: The Great Crash on: November 29, 2013, 02:24:58 PM
Bought back today. Now I have under half of the BTC I usd to hold. But I learned my lesson not to trade .

But now I am all in with BTC so choo choo motherfuckers!

Guy seems to be wrong every time so i think i 'll sell half of my stack now  Cool Wish me luck

Good luck!  You'll need it if you keep making trading decisions based on what people here say.  Some are idiots and some just flat out lie to you.
742  Economy / Speculation / Re: Why bitcoin isn't going to crash on: November 29, 2013, 02:11:31 PM

I would have said it applied back in April 2013 and also early November 2013, yet now look where we are.

No matter how many delusional bears post it, it is not getting any smarter. It never - hear me - not once - was even remotely correct in bitcoin world. Each of the "crashes" ended up higher than the previous top and much higher than the runup to the crash. So, in terms of that silly graph, *all* of bitcoin corrections were bear traps. Each and every one of them.

are you sure about your statement? it ended up lower than its starting point in 2011. so yeah, before you call bears delusional, you should really check the facts. how many booms have we had, about 3? well, your statement doesn't fit with 1 of them, but it does with the other. so far you're 50%.

The time period you chose is a bounce during the correction following 32.  It was not the start of a new rally.  Try backing up the start date a bit.  The rally started at $1, hit $32, and then bottomed at $2.
743  Economy / Speculation / Re: Possible bitcoin crash catalyst? The rise of altcoins on: November 29, 2013, 02:06:12 PM
During the last bubble in March I bought LTC and PPC just to diversify and hedge my BTC a little bit.

Buying LTC is not hedging. If BTC collapses LTC will collapse 2 secs later. You should be happy now with your choise but it was speculation not hedging.

In dollar terms, yes LTC will fall.  However, traditionally LTC has risen in BTC terms when BTCUSD falls.  This means LTC falls slower in dollar terms.

That might not hold going forward though since LTCBTC has risen quite dramatically already recently.
744  Economy / Speculation / Re: They already pre writing articles for tomorrow on: November 29, 2013, 02:02:41 PM
Very foolish and risky decision as a trader to buy on All Time High price! A crash always follows the high, now's the silence before the storm.

I've made over $1000 in BTC by playing a game I call "buy the all time high".

It goes like this:
1. When you hit an all time high, buy.
2. Place a tight stop to limit potential losses to a few percent.
3. Wait 5-10% depending on how fast it is moving.
4. Sell to recover initial investment.

Since I'm only doing this with $200-300 order sizes, the dip would have to be 300-500% to wipe out my profits from this "foolish" endeavor.  But if somebody is willing to pay me to take their bitcoins, I gladly take the loss and scoop up as many coins as I can carry.
745  Economy / Speculation / Re: Reality Check on: November 29, 2013, 01:55:07 PM
You only need 6500 coin purchase to push the price up to 1500 on Gox. So you spend less than 10 million dollars and you can increase the market cap by 4 billion dollars. Does that sound right to you?

No, that doesn't sound right, because that's not how it works.  Unless you can make the exchanges move together, you are just handing money to arbitragers.
746  Economy / Speculation / Re: read the Tea Leaves. whats with the gox swings? and the reluctant stamp? on: November 29, 2013, 01:39:57 PM
With 0% fees, Gox will keep swinging a lot.

not on gox, so i did not know this. did they just start offering this or has this been going on since that last crash they had? interesting though. how are they making money though now?

It is only from yesterday until Monday.

However, IMO, lowering fees should make price discovery more efficient.
747  Economy / Speculation / Re: $10,000 by 2016 very likely on: November 29, 2013, 01:34:05 PM
Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?   

Peercoin solves this issue

By replacing mining with proof-of-stake, only the votes of the wealthy nodes count.

I don't know about you, but I don't like to keep a lot of funds on a public mining node.
748  Economy / Speculation / Re: The Great Crash on: November 29, 2013, 06:52:11 AM
When is the next big crash incoming since now we are at AATH?

Sometime between now and $10k.
749  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 29, 2013, 06:40:20 AM

look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless.  With another huge Chinese company, especially a state owned one, shows that this can happen sooner than people expect.

basically fuck the speculators, fuck the greedy assholes that think it can just be a get rich quick scheme and dont fully understand btc.  The move to $10000 is irrelevant of them.  what will get us to $10000 is real people converting their fiat because btc is better

(ps i know this has been said before but your comment suggests that you dont understand the way to $10000)

Utter shite.

If gold can be worth 7 trillion without anyone spending it, Bitcoin can be worth 500 billion without anyone spending it.

Repeat after me. Bitcoin is a new asset class.

mate if you are such a bear and have no hope for btc then why are you even here

I can't figure out who you are talking to.  Both people you quoted made bullish statements.
750  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 29, 2013, 06:10:29 AM
That oughta make headlines tomorrow.
751  Economy / Speculation / Re: Will You Sell when BTC Hits $1,000? on: November 29, 2013, 05:10:41 AM
All you guys that sell. Get ready to pay 40% income tax in april. IRS dont f%ck around!!!!!!

i believe it's 15% if you've held them for over a year.

I believe it depends on what country you are in, how much you cash out, how long you've held them, and how much other income you earn in the year.  There is no blanket percentage for everyone.
752  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: November 29, 2013, 03:21:52 AM
That's kind of late... I still wana be in my 20s and single when i become a wealthy elite Cry

That's a great recipe for being poor and full of crazy stories in your 30's...

753  Economy / Speculation / Re: $1,300 to 10,000 very rapidly on: November 29, 2013, 03:19:23 AM
$1,300 -> $10,000 is a ~670% increase and really would not be such an insane jump for a four month period.

I'm more interested in whether or not there will be a price correction so steep that money stops coming in for a while, like in 2011/April of this year.

Since history tends to repeat itself, I think you know what I expect.

Also from 1,000,000 to 2,000,000 it's a 100% increase but to get there price would have to go like what, about $5 per minute non-stop for 4 months.

But $5 is 0.0005% of $1,000,000 so by the time we hit that price the spread for a small trader on Gox will be 2*0.6% or $12,000.

This only shows 0.6% is unsustainable for future trades Smiley
Hey, you pay high fees and where are your money when you try to withdraw USD from MtGox  Huh

Price is irrelavent to how "sustainable" a percentage a based fee is.  Most people won't be trading entire bitcoins if we ever reach that price.
754  Economy / Speculation / Re: What is driving the price of Bitcoin on: November 29, 2013, 03:11:31 AM
MtGox being a USD black hole creates a situation where no one wants to sell their bitcoins there, because, why would you do that? No way to pull out dollars.  This creates a huge BTC shortage on Gox, and more fuel for this bubble.

At this point, Mtgox is at $1200, and Btce is at $940.  Market thinks goxbux are worth 75% of real dollars.

Um, btc-e has not been accepting bank deposits for about a week now, so btc-e bucks are overvalued.  I'd be careful putting too much weight on that exchange's price, just like you should be careful with MtGox.
755  Economy / Speculation / Re: What is driving the price of Bitcoin on: November 29, 2013, 02:59:45 AM
According to theory the value of Bitcoin is driven by supply and demand.

When one looks at the exchange rate of Bitcoin over the last little while it would appear that there is a shortage.

With this being said, what is causing the current shortage?:
1. People actually using it to buy and sell stuff so quickly that it appears as a shortage (velocity of money)
2. People holding on to Bitcoin as a hedge against Fiat currencies.
3. People strategically buying and selling Bitcoin hoping to make a ROI (speculation)

I am currently engaging in #2 and engaging in #1 is simply an eventuality however I am wondering about peoples thoughts on #3.

You seem to be assuming demand is constant and only looking at supply.

IMO, demand has shifted quite a bit the past few months.
756  Bitcoin / Press / Re: 2013-11-30 Economist: Bitcoin under pressure on: November 29, 2013, 02:52:10 AM
And the main problem is that the new miners are way too expensive with the risk of a centralisation of Bitcoin. Have you checked out Friedcats his new mining farm?

I love Wednesdays. Wink
757  Economy / Speculation / Re: Will You Sell when BTC Hits $1,000? on: November 29, 2013, 02:32:57 AM
So who was enough stupid to sell ?

i sold a bunch at 970, because of the strong resistance at ~1000 Sad

I sold all of my "liquid bitcoins" at 650 euros because I bought them for 630 and 650 was at that time an all time high, (just moment before the rise to 800 euro)

I'm waiting for the inevitable drop to buy back some bitcoins before it will rise once again. I just refuse to believe there won't be a crash like 2011 or April, it just jumped from 900 dollar to 1200 almost overnight, peaks like that are usually followed by crashes.

Good luck!
758  Economy / Speculation / Re: Buying now or waiting a bit(coin)? on: November 29, 2013, 02:22:49 AM
You said you're pretty expert in trading.. therefore you should know that, whatever one of us can tell you, it would be purely speculations.. no one knows!
Moreover the timeframe matters a lot: which is your horizon? A few days investment? Weeks? Years? In the latter case, every moment is good..

I'm far from an expert, and even very good people have a very tough time getting the timing right.

Time frame: Good point, I should have mentioned it's long term. I don't care how long I have to hold, and I'm convinced it will either go to the sky or to 0. If it goes to the sky first, and then later to 0, that's bad for BC, but for my investment it's kind of ok too...

So I have the feeling you are right, almost every moment is good, untill it goes to 0, it will go up, up, up...

Buy as much as you can as soon as you have the money. Do not wait. Dollar cost averaging is not as efficient of a strategy.

It is also a riskier strategy.  Bitcoin has enough upside that you don't need to maximize risk to make a good return.

Less risky strategies save you from bad decisions when there is a squeeze.
759  Economy / Speculation / Re: Buying now or waiting a bit(coin)? on: November 28, 2013, 07:40:45 PM
From my experience, ask yourself this: how much free time do you have and how much of that time are you willing to spend price checking and waiting for the "right" time to buy in?

After spending lots of time waiting I decided buy in a while ago and I can tell you it is a wonderful feeling to not have to keep checking for the right time to buy. Whether it goes up or down, you are only investing what you can afford to lose (right?) so you can simply sit back and enjoy the ride.

I think your approach is correct. Honestly, I stay in a cash position and buy in when I feel like trading - and then get out as quickly as possible. If there is a strong price drop, I will buy and hold. It's all good… having fun doing it.

So you're not going to hold until you buy the top?
760  Economy / Speculation / Re: Are all your friends telling you to cash out, too? on: November 28, 2013, 06:45:21 PM
Isn't it weird that noone has any friends that are into bitcoins.   Roll Eyes

All of my close friends are into it.  In fact, two of them have more than me now and one of those recently cashed out a small percent and quit his job.  That small cash out gave him enough fiat for the next two years.
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 [38] 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 ... 382 »
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!