i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)
do I
A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??
thanks guys
Where do you think bitcoin will be in 2 years? |
|
|
|
Guys,
Read what he's actually saying.
He saying you never buy the first version of anything because it's full of bugs.
He's making no comment about Bitcoin itself. He's make a generalized statement about waiting until the second model of a brand-new car before you buy it. He's basically just conveying good common sense.
The flaw in his logic is the Bitcoin has new versions within itself…
Thank you. That's a good analysis. |
|
|
|
Hi,
I am looking to get in on this BTC crazyness an was wondering if there are any rough patterns as to the price, for example has there been a drop on the weekend over the past few weeks etc. Do the prices drop or rise on a daily basis based on time, for example when china wakes up.
Any observations about patterns would be appreciated.
Regards!
If there are any recognizable patterns, they change relatively quickly over time as they're exploited. The only reliable pattern is growth, overshoot, correct, stabilize, growth... |
|
|
|
Wasn't able to watch at that link. Try this one. |
|
|
|
in a not far future . Don't underestimate my friends purchasing power  Richard? |
|
|
|
This is bearish right? RIGHT? You've... changed... There are no bears in bitcoin. They have all been run over by the bitcoin train. Choo choo! Well, the fact is, if bitcoin sticks around, and the infrastructure continues to strengthen, and more services are built on top of it, then it will simply be worth a lot more than it is now. And even then, I think it will continue to be a very bumpy ride, compared to just about everything else. Or, the whole thing could collapse. |
|
|
|
|
EW analysis is awesome because when a movement doesn't fit one possible predicted EW pattern, we can clearly see, after the fact, it perfectly fit another.
|
|
|
|
 Plus or minus. |
|
|
|
|
4, by the way you guys are counting.
|
|
|
|
Every time it's a bigger bubble, bigger losses, and more negative publicity. Which is why they won't buy in.
Which is why they will never buy. Which is why there will never be mass adoption. Which is why Bitcoin will never become all of the things we had hoped it would. What are you talking about? The 2011 bubble was the biggest bubble of all and those who bought at the top would be sitting on huge profits right now. This drop from $900 to $453 is also peanuts compared to the crash in April, so the bubbles are only getting smaller and the losses as well. There is no such thing as negative publicity for bitcoin. The only people who bought in 2011 are people who understand Bitcoin. Again my point is take yourself to a normal person thinking strategy. Okay let me spell it out for you. You now only have a high school diploma. You work at a factory, walmart, you're a waiter bartender whatever. You have 3 kids, a tiny house, and a minivan. You live paycheck to paycheck. You took your savings ($10,000 or so) you put it into this Bitcoin thing. Now you have $5000 worth of Bitcoin/savings. You think they are still holding and hoping? You think they haven't sold and are screaming and cryin at the top of their lungs I lost half of my life savings Bitcoin is the devil to everyone they know? This is why it is bad. Because the people investing in bubble rises are people who think they will get rich quick (99% of the population which is why lottery is the most profitable thing for states) and when "healthy corrections" happen it's devastating to the reputation to Bitcoin and the bigger they get and the harder they fall the more negative news and I promise you the 99% don't know, care or believe in BTC technology they believe in their dollar and you Bitcoin took it from them. Oh, look, it's me in 2011 and 2012. Except I grew some balls and now I'm rich. |
|
|
|
Never forget.  Oh god, take that away! |
|
|
|
$720 for me. I need $344 to double up my coins. I don't mind if it dips below $300, I'll still buy right at $344..double coins makes me happy either way.
Well...not quite double for free. Bitcoin regulation is well on its way and uncle sam (or other tax authority) will want to capture your gains on that sale at $720. Bitcoin will be quite traceable and I suspect audits will come down the line for anyone reporting gains in bitcoins in 5 years or so. So you'll get double coins but probably a small tax bill to make up for it. It's not all bad news though. Ask your landlord (if you have one, for instance) if he/she will accept rent in bitcoins, and buy the difference of bitcoins in your rent. That way, your "new" bitcoins will get taxed against that rate, instead of the cheaper rate. I think that's excellent motivation to spur the adoption of bitcoins  And not only that, if they tax my gains, then all my mining gear and electricity and part of my mortgage (space) is now a tax deduction, thank you very much.  Haven't mined since summer 2011, but maybe I should let a GPU run for the deduction. |
|
|
|
Relieved the price is going down = you might not have enough Bitcoins.
Relived the price is going up = you might have too many Bitcoins.
Bitcoin goes up and down $300 in one day and you say "meh" = you might have the right amount of Bitcoins.
LOL, this is the most insightful thing I've read in the spec forum for a loooong time. |
|
|
|
Since the crash, the price has kept decreasing.
Otherwise, whats up guys?
Please see 2011, 2012, and earlier this year. |
|
|
|
Still, price is insane. Dropping and climbing like that is not healthy.
Is everyone's memory really that short? People said this when it went from ~$1 to ~$0.5 in spring 2011. And again in the summer of 2011. And in 2012. And early 2013. Hell, I was one of the most obnoxious ones saying it. The fact is, volatility like this will be with the bitcoin market for a long time. There's just no way around it. Coins need to get more widely distributed and there need to be more services accepting bitcoin. It's going to take a long time people. This level of volatility is frustrating. But, it's encouraging that so far the bitcoin ecosystem has been able to bounce back from it. I'd say that's a sign of health. We're growing. It's going to be painful. But more and more it's looking like this whole experiment has what it takes to stick around and be a major system for global commerce. |
|
|
|
Are you guys looking at different charts than me?
Looks like pretty normal volatility to me, compared to the action we have seen the last couple of days.
Volatility either side of the peak is a standard pattern, I'll be surprised if this time around we don't see the same as the previous bubbles. In fact, given how routine they are, I'm not sure we can call them bubbles as a bubble by definition is a one time cataclysmic event. This |
|
|
|
bullshit, what do you want a circle of 100 people trading this stuff? The only way it will catch on is if people don't feel like this is a total rip off when they come here.
+1 to not killing noobs for the sake of mass adoption
that's just not how it works tho. it's a nice idea to "save the noobs" but the fact is, they will panic sell and there is money on the table. someone will take it. Exactly. That's why I say it's unfortunate. I'm not just going to pass an opportunity to make easy money. Sorry to the weak hands. I learned my lessons the hard way, too, and I'm lucky enough to be in a position to take advantage of people who are now essentially what I was in 2011. One of the big lessons I learned in 2011 was that panicing usually doesn't work out well. |
|
|
|
My wife wants to spend my coins  My wife told me to sell at $700 yesterday, but I said I was holding. Think her timing is better than mine lol My wife was annoyed at me for a long time because I didn't sell everything at $32 in 2011. Why the hell would you tell your investments to your significant other? Because I like her. |
|
|
|
|
Show Posts
