$820 - $810 on Bitstamp!?

[billyjoeallen]

MtC,  you've got some serious psychological projection issues. You know I have a good-sized stash of coins. If I want to sell, then I am preying on newbie suckers. If I want to hodl, then I'm a "nutter" true believer with no rational basis for this belief. You simply can't fathom the reality that I have reason to value my coins at more than the bid price, even if I bought them much, much, much cheaper. My purchase price has nothing to do with their present and future value. nothing at all. You are projecting what you would be thinking if you were in my place, but you could never be in my place thinking the way you do. You just don't get it, and your efforts to reconcile the cognitive dissonance between your expectations and reality pushes you closer and closer to the edge.

You can't even conceive of the POSSIBILITY that I may have an understanding of the situation that you lack. I'm crazy lucky, and one day that luck will run out, you tell yourself.  Time may prove you correct, but in the mean time, perhaps a little humility would serve you well. We all have much to learn.  

[DPoS]

we are just talking about what is going on at the exchanges.. not folks that are mainly holding


I just presented a different perception he might not of thought about..  I also think coinbase can sell at small losses too at bitstamp to balance out their broker sales which have a much higher margin

[MatTheCat]

MtC,  you've got some serious psychological projection issues. You know I have a good-sized stash of coins. If I want to sell, then I am preying on newbie suckers. If I want to hodl, then I'm a "nutter" true believer with no rational basis for this belief. You simply can't fathom the reality that I have reason to value my coins at more than the bid price, even if I bought them much, much, much cheaper. My purchase price has nothing to do with their present and future value. nothing at all. You are projecting what you would be thinking if you were in my place, but you could never be in my place thinking the way you do. You just don't get it, and your efforts to reconcile the cognitive dissonance between your expectations and reality pushes you closer and closer to the edge.

You can't even conceive of the POSSIBILITY that I may have an understanding of the situation that you lack. I'm crazy lucky, and one day that luck will run out, you tell yourself.  Time may prove you correct, but in the mean time, perhaps a little humility would serve you well. We all have much to learn.  

yeah yeah...u bought in double figures or whatever and now u are loaded...but you are holding cos you think your lines of crypto-code are worth so much more than current spot.

Hooray for you, why don't you go and start up your own consultancy....except don't, cos there is very little I have read from you that has made me think that 'this billyjoeallen really seems to have a handle on what is going down in Bitcoin land'.

What are you going to do in your 'consultancy'? Charge people a fee for listening to stories about how much money you made from HODLING and how they too should invest and HODL?

I have witnessed some bewildering buying and selling antics on Bitstamp earlier in the evening. A couple of people have shed some light on what might have been going down. You aint one of those people.

[billyjoeallen]

we are just talking about what is going on at the exchanges.. not folks that are mainly holding


I just presented a different perception he might not of thought about..  I also think coinbase can sell at small losses too at bitstamp to balance out their broker sales which have a much higher margin

Yeah, Coinbase is a substantial payer and we have no idea what their volumes are. I really admire the way they structured their business model to take 90% of the profits with 10% of the risks. I take money off them, but it's like when I win at poker and give 90% to the house through the rake.

[vokain]

"I can’t tell you how it came to take me so many years to learn that instead of placing piking bets on what the next few quotations were going to be, my game was to anticipate what was going to happen in a big way"

"They say you never grow poor taking profits. No, you don’t. But neither do you grow rich taking a four-point profit in a bull market"

etc etc

[Torque]

When you trade 4-lot bond futures, 5-lot crude or gold, is it your own capital? If so, then why not just retire and live the good life. If 500K was the size of one of my trading chips, I know for sure I wouldn't be sitting crouched around a computer monitor doing that shit.

MattTheCat, did you ever consider that someone might be trading on behalf of a big player, like a big whale investor or even Second Market?  A bitcoin ETF such as them would have those size trading chips, and someone to do the trading for them so they don't have to get their hands dirty.  You really think they are just going to sit on their big stash of bitcoins for the whole year, and not try to play the market to earn more return?

[DPoS]

I take money off them, but it's like when I win at poker and give 90% to the house through the rake.

same here..  just sold some 785's for 823's today which aint all that great when you take out the dual 1% rakes

[billyjoeallen]

MtC,  you've got some serious psychological projection issues. You know I have a good-sized stash of coins. If I want to sell, then I am preying on newbie suckers. If I want to hodl, then I'm a "nutter" true believer with no rational basis for this belief. You simply can't fathom the reality that I have reason to value my coins at more than the bid price, even if I bought them much, much, much cheaper. My purchase price has nothing to do with their present and future value. nothing at all. You are projecting what you would be thinking if you were in my place, but you could never be in my place thinking the way you do. You just don't get it, and your efforts to reconcile the cognitive dissonance between your expectations and reality pushes you closer and closer to the edge.

You can't even conceive of the POSSIBILITY that I may have an understanding of the situation that you lack. I'm crazy lucky, and one day that luck will run out, you tell yourself.  Time may prove you correct, but in the mean time, perhaps a little humility would serve you well. We all have much to learn.  

yeah yeah...u bought in double figures or whatever and now u are loaded...but you are holding cos you think your lines of crypto-code are worth so much more than current spot.

Hooray for you, why don't you go and start up your own consultancy....except don't, cos there is very little I have read from you that has made me think that 'this billyjoeallen really seems to have a handle on what is going down in Bitcoin land'.

What are you going to do in your 'consultancy'? Charge people a fee for listening to stories about how much money you made from HODLING and how they too should invest and HODL?

As I said before, I plan to focus much more on merchant adoption. I am honest enough to admit that for now this is more for publicity than increased revenue and savings on payment processing fees. My target clients are largely people who waste a lot of money on futile political activism. I plan on convincing them that Bitcoin adoption is a much more effective tactic for achieving their aims of a more business-friendly environment in which to operate.

My personal investment story is anecdotal. I am the first to admit that maxing out credit cards three years ago to acquire my stake was recklessly risky. I wouldn't recommend that to anyone. My decisions are colored by ideology, but I think most people's are too and at least I am aware of it. The more useful story is when I convinced my father to buy in at $31/BTC and the market crashed to $3/BTC and stayed below his purchase price fr a year and a half. I am the first to admit I have no crystal ball, but he wasn't buying for the short term, so he came out ahead (so far). I didn't push him to buy more than he was comfortable losing. A good consultant IMHO is not primarily a salesman, but an information resource.

My personal investment story is anecdotal. Investment strategies are based on risk tolerances, goals and time horizons, so I don't use myself as an example to follow.