People always say that buy low, sell high but how low and how high should the price be before you do such action? If you bought bitcoins at $700, and the price increased by $20, are you going to sell at that time? I don't think so. We don't have any exact amount in our minds that's why we end up not being able to sell at the highest price possible. When the price has increased and then the dump is starting, we tend to panic sell because we don't want to lose any more potential profit.

I think it's also important that you indicate where to read bitcoin news. Some websites aren't updated and the dump has already happened before they even post the reason why (i.e. a bitcoin-related website got hacked).

The opportunity to buy low is today. The price has been playing around 900$-950$. There has been a recent dump/panic dump that has happened. Some people would doubt that it's a good time to buy right now since it's $900 and $900 is a big amount of money to most. That's the same thing people back then was thinking. Even the OP of this thread has made this thread because he was doubtful with the $600 price. Now, he's enjoying his profits.

The price right now is overpriced only to people that wants to cash out in a year or two. But for someone that wants to invest bitcoins and then cash out after a couple of decades, the price of bitcoins right now is soooooo cheap (and I can't even emphasize that even more). Bitcoin is still in the beginning phase and this price will be something people in the future would think as "really really cheap" just like how we see the price of the past (a couple of dollar for a bitcoin) as really really cheap.

There's actually a website that has the private keys of all the bitcoin addresses. Funny because even if you do have it all saved on a .txt file, if will take you a lot of power and time (even years) before you can find the private key of a specific wallet. There have been discussion about this in this forum. There are just too many bitcoin addresses available and I really mean way many for you to be able to control bitcoins or hack someone using the list of all private keys.

That's no different than HYIP sites and other scam investment sites that we have plenty right now. One of the major reasons why bitcoin banks would be a failure because of trust issues. People don't need bitcoin banks and then suddenly someone has spent a huge amount of money to establish one. With the mix of 10-20% increase on your account balance in a year, that would make some people interested but most bitcoiners wouldn't believe them. They would just think that it's just the same HYIP and cloud mining owners taking their business in to the next level.

Depends on what you meant by "reselling". You can mean buying a product and then selling them or looking for a buyer of a certain product but you put a higher price than it actually is. If it's the first one, then you're wrong. You would need to invest first to buy the product and you can lose money if the product at hand gets lost or broken. If you mean the second one, then you're right. I've seen people do that. They don't invest or anything. They just tell the main supplier that they want to be a reseller of the product and then they just promote/sell the product to people with a higher price.

However, even panic sellers can make profit. For example, those people that were using bitcoin since last year can make profit even if they did sell their coins at this dump or price correction. Simply the (natural) flow of bitcoin saves all those panic sellers. The problem with most people is that they don't know when to sell since there's not that much sign when exactly is the price going to go up/down. I hope this price correction serve as a lesson or a reminder to all of us.

Just 3 minutes after you posted this, the price went back to $966.

Months ago, a price increase like that is already being celebrated by most of us (or at least by me). The $200 dip would be something that will make us feel devastated back then since we don't know when are we going to get back up. Today, we just had a $200 dip and then we can't understand whatever's happening right now.

I sold 0.05BTC at around 950$ just to make sure. I admit I did panic sell. I do have some profits out of that anyway but not as much if I sold my coins at the peak. I was online when we were at 1,135$ range.

They are just trying to balance things. They don't want to give your 0.04BTC while knowing that the price of bitcoin is much higher than it used to be. If 0.04BTC was 20$ back then and now it's 40$, of course you would be thinking of decreasing the pay rate. One of the signature campaigns that always adjust their pay rates depending on the price of bitcoin is secondstrade which have a lot of participants to pay. While my campaign Bitsler doesn't have that much participants to pay and it hasn't changed its payrate yet.

0.1BTC weekly is hard to acquire in the free way just like you said unless you have some sort of knowledge/method that others don't know about.

Since most people that actively participates in discussions like this one have signature campaigns, I'd say that those people are either: (a.) just thinks that trading is a good idea since they've read it from other users (b.) do trading but not that much since they're busy with their signature campaign. Not to throw shade but most people here are like that. They are called dittos/ditto heads. Someone who is aware of that wouldn't give any importance to whatever "seemingly-insightful" stuffs they post.

It depends on what you do with your bitcoins. If you simply buy/sell stuff like a normal and law-abiding citizen, then you shouldn't be worried since you're not doing anything illegal. Most illegal trades are being done using bitcoins because it's anonymous (pseudonymous to some).

But in the long run once a huge percentage of the total population is using bitcoins, the government would surely notice bitcoins and do crazy things to avoid making their fiat become valueless. They can add another law and prohibit the use of unregulated currency like bitcoin.

I wouldn't worry about these things. I've done all of those and I've moved on. Everyone is capable of doing that. We lost our money by gambling and from HYIP sites, and that served as a lesson to all of us. One thing I would worry about is what if the kids started working continuously. If I had the time, I wouldn't do anything else but continue exploring the bitcoin world as this has much more opportunities than the job offerings in my area. People's nature is to be greedy and once kids become exposed to the world where they can make good amount of money, I'm afraid that their greed will eat them up.

Someone who can make a script to automatically claim in faucet sites should have a good job in real life and shouldn't be wasting his time with faucets since he's very knowledgeable enough about scripts to know how to bypass captchas, and move on from one faucet site to another or maybe even claim simultaneously. He's going to earn much more than his auto-claim-from-faucet script can make.

It's not hard to earn bitcoins outside of this forum, btw. The only things that you can do here to earn money is sell stuffs, offer services, and signature campaign. Selling stuffs and offering services would require audience, this is not the only forum where you can find bitcoin users. To some people this forum isn't a really good place to do those (sell stuffs+offer service) because there's already trusted people here. For example, if you're going to try managing signature campaign or do lending, people would ask you various stuffs first and the majority would prefer going with the trusted user over you.

I don't think entering your bank account details in Paypal is a complicated way and long journey. That would just take you a maximum of 10 minutes to finish unless your mentally retarded or something which I think you are not. I have never tried doing it by myself but I've never heard people complaining about how complicated and how much time have they wasted just to set up their Paypal account.

That's mainly the problem. There's not a lot of bitcoin users especially in remote areas. Buying from someone by meeting up with them personally would be pretty hard to do in that case. Most people here started by buying bitcoins from someone using their Paypal account.

Spending bitcoins online is another problem to most users. There's not that much online stores that accepts bitcoin unlike when you're using Paypal.

But I guess this all depends on your area. I'm just saying what I'm experiencing.

I'm not saying that I disagree with what you guys said that there's no one controlling bitcoins, but I disagree that the highlighted part would happen. If there was someone that controls bitcoin right from the start, Satoshi (and his team, if there's any) would keep it as a secret. Thus, the guy that controls all of these stuffs wouldn't be in jail at all. There's no way for us to confirm that there's no one controlling bitcoins but at the same time there's no way for us to argue with that idea.

Knowing that the fiat is not backed by gold anymore doesn't make us smart, it makes us informed. I didn't know about this before but I've read a couple of posts about it. If people are just as informed as we are, then they might ditch fiat and join the bitcoin club. Fiat is becoming more and more like a "Score" in a game which literally has no value but lets you track what you've done so far. The only difference with the score in a game is that you can spend your fiat. Regardless, fiat is still valueless (since it's not backed by gold anymore), but people thinks that it has value and would do horrible things just to obtain more and more fiat.

If so, then we should be seeing tens of thousands dollars worth of bitcoin and a dollar worth of bitcoin wouldn't be equal to 1BTC. I think that the only way for bitcoin to have a fixed or atleast pretty fixed price is when almost or all fiat currency has been converted to fiat already. At that point, no one wants to convert back to fiat since everyone's using bitcoin as their main currency and no one has significant amount of fiat left to make the bitcoin price move noticeable enough when he converts his fiat.

The color coding is such a useful idea that it can be used for other things as well like (a.) Warning for likely scam in PNYC (b.) Color assignment for different campaign managers; no color if there's no hired manager.

It was their fault, not the bitcoin network's. Their wallet is the one that got hacked, not the network. Maybe they were using an infected PC/Smartphone or they connected in a public network with a lot of cookie thieves. Nonetheless, you can't blame the network for their carelessness.

Every day a lot of people gets their fiat robbed but you can't blame the government for that (or whoever made fiat). You can't say that paper money isn't secure because you got robbed.

To be honest, I don't know how this campaign has become full in just a matter of less than 2 hours. I'd say the manager isn't as picky as other managers. It'd be really efficient for both ends (the manager and the users) if they would accept your offer to do escrow. People are doubtful of new ICOs because of the previous campaigns that scammed people especially this campaign is running for 2 weeks before they can confirm payment. 2 weeks of free advertising is more than enough for scammers.

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http://paste.ee/r/Irvrr Updated table on OP.

I guess? But you don't necessarily have to wait long-time if you could invest at the right time. Back to the 1200$ guy, he most probably is smiling right now because finally 1200$ is almost there. Most of the other people that has bought bitcoins at 1200$ range sold their coins for a lower price when they see the price is dramatically decreasing to prevent any further loss.