Things I miss about bitcoin trading from 2013

[Graphics]

I certainly miss Mt.Gox. You could make money off arbitrage easy from Mt. Gox and BTC-e back then.

[1714881622]

1714881622

[WeltMaster]

I'm hoping alt pumps will return, those certainly were the days.

I wouldn't bet on it. Do you know actually how many people have lost money and left the crypto forever? I bet many!

For every Bitcoin I made out there on trading, etc, someone had to lose it. And I think all of this has made us more damage than good, even though some people have profited.

It will be proven again that the only losers are those who sell, or buy on margin and get REKT

[r0ach]

It will be proven again that the only losers are those who sell

Depends on the person honestly.  For example, if you have 100k in the bank and only 1k in Bitcoin, you don't really care and just sit on it.  If you have 100k in the bank and all of it's in Bitcoin, then you're gonna be swing trading out the wazoo solely with the goal of mitigating risk.

[oda.krell]

Who was the guy that flew to China with suitcase's full of cash and would arb? Those were the days, lol!

That would have been Loaded. One of the few whales with class in here. *adjusts monocle*

[TERA]

Who was the guy that flew to China with suitcase's full of cash and would arb? Those were the days, lol!

That would have been Loaded. One of the few whales with class in here. *adjusts monocle*

Beat me to it.  Loaded also lost a bunch to gox and put out some kind of bounty on them.

[oda.krell]

So... who in here will be the first to publish a semi-factual semi-fictitious "Those were the early days of trading the 'coin" book?

(EDIT) Style-wise, I'd vote for gentlemand, but he's such a noobcake still.

[RyNinDaCleM]

 

   

[gentlemand]

So... who in here will be the first to publish a semi-factual semi-fictitious "Those were the early days of trading the 'coin" book?

(EDIT) Style-wise, I'd vote for gentlemand, but he's such a noobcake still.

Wow, I'm honoured. But I wasn't around back then nor am I any good at trading. I do recall being made dimly aware of it in 2009 but it was quickly discarded.

Even if I had been, I seriously doubt I could've brought myself to use Gox beyond the pennies/paypal phase. One of my enduring fascinations with this space is the willingness of people to put up with the most mind boggling and screamingly obvious mediocrity.

When I did start paying attention in 2013 Gox was still the go to place. Within twenty minutes of googling - 'so, let's recap here. It's been hacked, trades have been rolled back, you can't take dollars out, passwords were showing in the browser, it's in Japan, there's no insurance, there's no regulation, who's is that nasal creep on the beach ball?'

Is this an extraordinarily elongated performance art piece?

Localbitcoins here I come.

[TERA]

The exchange risk is just seen as another calculated risk in the bitcoin vegas gambling game that otherwise has much better odds than a casino. There are no other options, if you want to trade in a high volume environment. Especially with bitcoin's questionable legal status in its early years, the use of a dodgy offshore exchange that could evade the law was seen as part of the game and even added a feeling of edgy badassness to it.

[Dafar]

Screw all that.  The fact that Bitcoin was being praised on the cover of The Economist, the official economics magazine of the New World Order, means you no longer need to trade.  Just HODL and wait for such profits.

This is boring. In 2013-2014 I increased my bitcoin count by a factor of 100x, in addition to the usd value increase (which is only 3x since my first purchase). With simply holding, I might get another 20x usd value increase (and no btc increase) in a matter of several years or more if everything goes perfectly and bitcoin reaches maturity. That's much much slower. No more glorious days where my net worth suddenly doubles or triples in one sitting of trading. I'm exposed to much more time risk (more time for black swan events and things not going perfectly). I hate really long term investing in general.  Nothing can compare to the glorious days in 2013 where anyone with a little intelligence and a set of balls can go suddenly go from being nothing to being something with no capital.

I miss those days too, but what makes you think those days are over? I still think there will be more pumps and other opportunites in bitcoin and the altcoin markets, once the bitcoin bear phase gets sorted out

[oda.krell]

I do recall being made dimly aware of it in 2009 but it was quickly discarded.

Huh. Guess I have to take back the noobcake then. 3-4 years before I even heard of it.

[gentlemand]

Huh. Guess I have to take back the noobcake then. 3-4 years before I even heard of it.

Not at all. There's a world of difference between hearing a word and actually taking the plunge into it. It was more than a mention on the radio. I think it was an outline on some sort of anarchist forum.

I do recall saying to myself 'hmm, maybe I should get me a Bitcoin position'. Judging by my affluence today I guess I was distracted by a passing slice of cake and failed to heed my own advice until countless years later.

[BTCBinary]

the only thing I miss is to get paid at that price. Unfortunately I couldn't hold many of my bitcoins. I wish I had the same bitcoins I had last March...

[HarryKPeters]

Most of those things are epic and will not ever come back. Take the altcoins f.e. their time has come. The volume however will grow and grow. I dont' expect we will go under it's level in the next few years.

So yes, most things happen for the best

[Chef Ramsay]

Most of those things are epic and will not ever come back. Take the altcoins f.e. their time has come. The volume however will grow and grow. I dont' expect we will go under it's level in the next few years.

So yes, most things happen for the best

Ya, the alt coin phase is probably over since so many got burned and learned their greed lessons the hard way. However, litecoin will probably go on another significant run-up in terms of its bitcoin price as the panic buying starts entering the bull market down the line as it matures beyond our community's borders. People will be seeing that crypto is going up and bitcoin's price will be out of reach for most and that's when litecoin will get its boost. Just like last time but on a larger scale.

[TERA]

There could potentially still be another alt coin if it was a significant enough fork and wasnt just another scrypt coin,  etc. People really have to believe that it is the next bitcoin, or the solution to bitcoin scalability issues,  or maybe something completely different (like ripple).

[keystroke]

Huh. Guess I have to take back the noobcake then. 3-4 years before I even heard of it.

Not at all. There's a world of difference between hearing a word and actually taking the plunge into it. It was more than a mention on the radio. I think it was an outline on some sort of anarchist forum.

I do recall saying to myself 'hmm, maybe I should get me a Bitcoin position'. Judging by my affluence today I guess I was distracted by a passing slice of cake and failed to heed my own advice until countless years later.

You must mean 2011. Bitcoin was not mentioned on the radio in 2009.

[gentlemand]

You must mean 2011. Bitcoin was not mentioned on the radio in 2009.

I was referring to folks today who hear it on the radio. I came across a bloke eulogising it on a forum. If I remember rightly because of the nature of the forum they were rather more receptive than your average internet psycho. I guess a few made bank had they listened.

[keystroke]

Ahh, thanks for clarifying, I misunderstood.

Well, you guys might get a kick out of this email between a friend and I from early 2011. A bit off topic but something I miss.