Going off the Bitcoin radar

[FenixRD]

The price right now is only depressed because of psychology. (The price only rose as much as it did because of psychology too.)

... high school economics.. pfft

the actual analysis is that the miners difficulty. meaning their investment and predicted returns caused the price rise as they were unwilling to sell cheap (making a loss). that is the true reason for the rise, along with alot of investors joining into bitcoin causing the demand to allow these miners to hoard for the best prices.

as for the recent sell off.. check out the charts. it has happened every first week of the month for the last 6 months. it is more apparent this month due to black friday and people wanting fiat for christmas present buying at merchants that dont accept bitcoin. the whole first week of the month sell off is usually merchants converting their hoards into FIAT to restock and pay their employee's.

it is not 100% pure speculation! there are noticable physical and meaningful factors too.

back to the topic at hand:
if running off for a year. get the private keys from your wallets. write them down in 5 locations on paper. also make a few digital copies of the wallet too. and store them al securely. dont just leave them on your PC as the only backup.

If you think the price is easily predictable based on miner difficulty and some silly "1st week" phenomenon, please go make your profits then, using this method.

[bryant.coleman]

I enjoy it personally, but yeah, it has taken over my life. If you're in it for the longrun then maybe going a way for a while would be a good idea if you can stick to it, but can you?

I don't have any problems with the "going away for a while" part. I am just saying that you should at least occasionally check and secure your wallets... and may be you should check the exchange rates and the major news articles.

Also, post here occasionally. 

[hilariousandco]

I enjoy it personally, but yeah, it has taken over my life. If you're in it for the longrun then maybe going a way for a while would be a good idea if you can stick to it, but can you?

I don't have any problems with the "going away for a while" part. I am just saying that you should at least occasionally check and secure your wallets... and may be you should check the exchange rates and the major news articles.

Also, post here occasionally. 

I think you can "go away for a while" and still keep an eye on the markets. Just check them a few times a week or whatnot. You can always check your balances on the blockchain / scan QR codes, but it wont make no difference if they've somehow gone walkies haha. Personally I don't need to check the markets every day because I'm hoarding my coins for the long run. I do want to make some more by selling shit though, and also you can make coins on here from sig adverts, so it pays to keep on top of the crypto world and contribute to this site. Plus I haven't got anything better to be doing right now, so it's not a fuss .

[Voodah]

as for the recent sell off.. check out the charts. it has happened every first week of the month for the last 6 months. it is more apparent this month due to black friday and people wanting fiat for christmas present buying at merchants that dont accept bitcoin. the whole first week of the month sell off is usually merchants converting their hoards into FIAT to restock and pay their employee's.

This doesn't really hold true when looking at charts. Some months it's not even there and others it is just a by product of an ongoing trend.

Also, remember, merchant BTC is minimal. It doesn't even account for 10-15% of the everyday traded volume.

[beetcoin]

I enjoy it personally, but yeah, it has taken over my life. If you're in it for the longrun then maybe going a way for a while would be a good idea if you can stick to it, but can you?

I don't have any problems with the "going away for a while" part. I am just saying that you should at least occasionally check and secure your wallets... and may be you should check the exchange rates and the major news articles.

Also, post here occasionally. 

I think you can "go away for a while" and still keep an eye on the markets. Just check them a few times a week or whatnot. You can always check your balances on the blockchain / scan QR codes, but it wont make no difference if they've somehow gone walkies haha. Personally I don't need to check the markets every day because I'm hoarding my coins for the long run. I do want to make some more by selling shit though, and also you can make coins on here from sig adverts, so it pays to keep on top of the crypto world and contribute to this site. Plus I haven't got anything better to be doing right now, so it's not a fuss .

but that's the problem.. people are getting addicted to reading/checking the markets. they fall off the wagon if they check the price, because there will be that impulse to keep doing it. i am kind of sick of it at this point, so once i hit my quota, i'm going to take a break.

[seanneko]

I think you can "go away for a while" and still keep an eye on the markets. Just check them a few times a week or whatnot.

Yeah, maybe I should do this instead. Having a quick check once a week can't hurt. Plus, if it hits $100k/BTC, I want to know about it so I can sell some

Wallet security is not an issue. Without going into too much unnecesary detail, all my BTC are on paper wallets which were generated in a 100% secure and safe way.

It almost seems as though I have an obsession with checking the price, even though I'm not a day trader. It's like how some people do nothing except refresh their Facebook all day - I'm a bit like that with the Bitcoin price.

[saddambitcoin]

if you can successfully go off the radar and not touch any of your coins i bet you will be very happy next year.

i wish i could go back 1 year and tell myself the same thing...