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Author Topic: Need Help, Want to Buy More  (Read 1016 times)
Kazu
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April 09, 2013, 08:33:32 PM
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I have just received a ridiculous amount of money (ridiculous at least for me, probably not for the early adopters with 1000s of BTC) that I have been told to invest in BTC, several orders of magnitude larger than the amount I have invested in Bitcoin so far. I will receive the money on Wednesday, which probably means I could find a way to get it into Bitcoin by Friday.

I was pretty happy about it all, until today. What the heck should I do? What are the chances that Bitcoin will go down - at least to below $200 - for a little bit at least?

I know its hard to tell, but any advice you could give me would be helpful.

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mccorvic
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April 09, 2013, 08:34:58 PM
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I have just received a ridiculous amount of money (ridiculous at least for me, probably not for the early adopters with 1000s of BTC) that I have been told to invest in BTC, several orders of magnitude larger than the amount I have invested in Bitcoin so far. I will receive the money on Wednesday, which probably means I could find a way to get it into Bitcoin by Friday.

I was pretty happy about it all, until today. What the heck should I do? What are the chances that Bitcoin will go down - at least to below $200 - for a little bit at least?

I know its hard to tell, but any advice you could give me would be helpful.

There's always a chance, but my instinct says right now is the lowest we will see for quite some time.

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hubbabubbabaker
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April 09, 2013, 08:35:24 PM
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The real odds? I don't know. Flip a coin.

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zby
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April 09, 2013, 08:35:48 PM
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I have just received a ridiculous amount of money (ridiculous at least for me, probably not for the early adopters with 1000s of BTC) that I have been told to invest in BTC, several orders of magnitude larger than the amount I have invested in Bitcoin so far. I will receive the money on Wednesday, which probably means I could find a way to get it into Bitcoin by Friday.

I was pretty happy about it all, until today. What the heck should I do? What are the chances that Bitcoin will go down - at least to below $200 - for a little bit at least?

I know its hard to tell, but any advice you could give me would be helpful.

Smells pump and dump.
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April 09, 2013, 08:39:43 PM
 #5

Buy and hold. And spend some every now and then but after that buy even more Bitcoins than what you just spent.

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Malawi
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April 09, 2013, 08:45:18 PM
 #6

I have just received a ridiculous amount of money (ridiculous at least for me, probably not for the early adopters with 1000s of BTC) that I have been told to invest in BTC, several orders of magnitude larger than the amount I have invested in Bitcoin so far. I will receive the money on Wednesday, which probably means I could find a way to get it into Bitcoin by Friday.

I was pretty happy about it all, until today. What the heck should I do? What are the chances that Bitcoin will go down - at least to below $200 - for a little bit at least?

I know its hard to tell, but any advice you could give me would be helpful.

I assume theese are someone elses money they want you to invest.

Then you should keep them updated and give them a link to the MtGox chart. Also explain that if you invest and even trade with the money, that you take no responsibillity if the value suddently go down to 10%. There are lots of risks involved, but if they say "go ahead", then just go ahead. :-)

BTW: There is also the option of you buying bitcoin and then transfer the BTC to the investor so that he/she can trade BTC.

No matter what - I would suggest that you talk to the person just before exchanging the dollars for BTC, to get a final OK.

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April 09, 2013, 08:51:03 PM
 #7

I am still buying, but no more than I can stand to lose. Prepare yourself for the possible outcomes and have a plan. Stick to your plan and don't get jumpy. If it's going to stress you out, do not buy more BTC.
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April 09, 2013, 08:52:23 PM
 #8

yeah I'd explain the risks involved thoroughly if that's not your money. just to be safe Smiley it is a very risky investment in a very young startup, and there has to be no delusions.

i am satoshi
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April 09, 2013, 09:24:01 PM
 #9

in game theory, there is something called "mixed strategy" (wikipedia it). the idea is that if you have several choices, split and do parts of them based on the expected probablility. e.g. "flipping the coin" means, you should invest 50% now and 50% sometimes later … instead of everything now and nothing later.
you can also split this more than once, e.g. 30% now, 30% the next day if it goes up "significantly", 40% later. or keep the 70% if it goes a bit down (weekend dip) and then repeat.
blablabla
nothing of this is really helpful, but you can make a plan like that, test it on the data you already have from the last 3 or 4 fridays and test it.
then execute it without much thinking …
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April 09, 2013, 09:31:26 PM
 #10

I have just received a ridiculous amount of money (ridiculous at least for me, probably not for the early adopters with 1000s of BTC) that I have been told to invest in BTC, several orders of magnitude larger than the amount I have invested in Bitcoin so far. I will receive the money on Wednesday, which probably means I could find a way to get it into Bitcoin by Friday.

I was pretty happy about it all, until today. What the heck should I do? What are the chances that Bitcoin will go down - at least to below $200 - for a little bit at least?

I know its hard to tell, but any advice you could give me would be helpful.

OK heres the deal.

buy it all now! ( no fucking around, do market buy order NOW! )

then invest in your coins here https://www.havelockinvestments.com/ ( SDICE is very hot right now, and VTX you want want to place a low ball bid )

if bitcoin prices start to fall, DUMP your coins into these to ventures  and buy some LTC

good luck!  Cool

Note* this is not financial advice! this is some random person on the internet telling you to buy random things!  Cheesy

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April 09, 2013, 10:35:13 PM
 #11

Personally, I would allocate 1/2 to BTC, and 1/2 to something else - maybe gold, which looks to be rebounding after being very oversold. But that's a more conservative strategy trying to stay diversified. I think BTC will go to $1000 *at least* long term, but I also think there will be a pretty big correction somewhere between here and there, so if you buy Friday, you must be mentally prepared to weather a big correction if it appears.   
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April 09, 2013, 10:41:09 PM
 #12

I have done well to just take the money you have and buy at whatever price it is at that moment.

I was asking the same questions as you when the price was around $47 (I was hoping it would dip into the $30s just one more time before buying). Fortunately someone said to just go ahead and buy.

The next day it shot up over $50 and is still going.

And do not look at it like you are investing in Bitcoin.

You are shifting into a new currency. Like you just moved to Mexico and will be using the Peso from now on.

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April 09, 2013, 10:51:25 PM
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i'm expecting a correction, there appears to be a long term trend line stretching back to before the last bull mania which might provide some resistance. Or it might not.. what do i know i'm just another guy on the internet telling you to do stuff  Cheesy

If it was me, i'd maybe start by using about half the fund to buy bitcoins then shortly after buy the rest, but I'm quite an impatient guy and once i've made my mind up about somethign don't like waiting around. Even if there is a pullback or even this bull market peaks then crashes, so what? I think bitcoins in the long term will end up a lot higher than today's prices, if you buy at the wrong time that just means you have to hold for longer.
Kazu
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April 09, 2013, 10:52:27 PM
 #14

Thanks for the input.

I have tried to explain Bitcoin to the investor, they don't seem to really get it, but they act like they like it anyway. They just say "do what you think is best" pretty much.

I've decided I'll probably buy more, but I sort of want to pick my time. Does anybody have any more interesting technical indicators? Thanks.

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April 09, 2013, 10:55:34 PM
 #15

10-20% now, maybe 10% when price dips 5-10% and so on. Max at 50% then wait for slower donward trend cash out and when the trend pickups again go all in.

Not that you should ever listen to me, I don't have a cent in this...


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April 09, 2013, 11:41:59 PM
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i would hold until at least 2140. I guarantee you will take profit then
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April 10, 2013, 01:52:38 PM
 #17

Don't go all in but buy some...

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