aminorex
Legendary
 Offline
Activity: 1596
Merit: 1029
Sine secretum non libertas
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December 04, 2014, 02:48:26 PM |
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Define money.
Wealth in general, fiat or bitcoin?
Whatever is accepted in exchange for what I require. If you prefer to hold crypto long-term, as do I, it is often easier to consider cross-rates as crypto-denominated, but it doesn't change the goal of trading. My preferences do not play a significant role in determining what is accepted in exchange for what I require. They do play a large role in determining what discretionary purchases I choose to make. |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Fatman3001
Legendary
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Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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December 04, 2014, 02:56:39 PM |
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Griping about manipulation is stupid and pointless. If someone is driving the price down just to buy, then you benefit from temporarily lower prices.
the reason there is less demand is because market participants correctly (IMHO) anticipate that there are too many holders who will sell if the price goes just a hundred or two higher. Price has to go lower to attract new money. We are just taking it from each other at this point.
We need new money and that means we need lower prices. The retail money won't really start pouring in until after the rally is well under way and it hasn't even started yet.
Seeing as Bitcoin needs a market cap of 50-100 billion USD to become truly useful I don't think lowering it to 2 is going to attract a lot of new money. |
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NotLambchop
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December 04, 2014, 02:59:03 PM |
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"Dollar averaging" is not a rational thing to do, it is only a psychological pacifier, right?
If one bought 100 coins at 800$, buying 100 more at 400$ does not compensate or alleviate the loss of the first buy. It only mixes a vexing mistake with a minor mistake to make a double dose of a medium-strength mistake. The loss from the first buy is still there. Right?
AFAIK it's a common strategy for long-term investors. By spreading out your buys you reduce your risk of buying at a local high but also reduce your chances to buy in on the cheap. DCA doesn't mean what many here think it means. Start here (not rebuilder--he knows), and don't succumb to the urge to start playing vidya until you read the whole thing. DCA particularly doesn't mean "I bought too high, so I'll make up for my mistake by buying more of the same asset as the price goes down." That's a variant of the sunk cost fallacy. |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 04, 2014, 03:00:54 PM |
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NotLambchop
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December 04, 2014, 03:06:05 PM |
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...
Seeing as Bitcoin needs a market cap of 50-100 billion USD to become truly useful I don't think lowering it to 2 is going to attract a lot of new money.
Bitcoiner's solution to the strange loop of Bitcoin: 1. Price must go up for BTC to be useful 2. BTC must be useful for its price to go up 3.  4. The price will go up, PROFIT! |
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spooderman
Legendary
Offline
Activity: 1638
Merit: 1022
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December 04, 2014, 03:15:04 PM |
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What's this bullshit  |
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hdbuck
Legendary
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Activity: 1260
Merit: 1002
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December 04, 2014, 03:19:00 PM |
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What's this bullshit typical troll mindfuck.  |
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arieq
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December 04, 2014, 03:23:31 PM |
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If we are below 350 on friday, all the coins bought on coinbase from 350 whale may get dumped... get ready, we're going down
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NotLambchop
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December 04, 2014, 03:34:46 PM |
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What's this bullshit typical troll mindfuck. Do I need to explain to you mental giants how the ignore button works too? |
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spooderman
Legendary
Offline
Activity: 1638
Merit: 1022
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December 04, 2014, 03:37:02 PM |
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"ANY PORTION OR ALL OF THE COMPUTER HARDWARE BITCOINS"  |
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NotLambchop
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December 04, 2014, 03:40:29 PM |
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"ANY PORTION OR ALL OF THE COMPUTER HARDWARE BITCOINS" >owned SR 1 & 2, got all teh bitcoinz.   |
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Tzupy
Legendary
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Activity: 2128
Merit: 1074
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December 04, 2014, 03:43:04 PM |
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The US Marshals may not sell all 50k BTC, if the offers will be too low:
5) Is there a reserve price for this auction?
The United States Marshals Service reserves the right to sell some, all or none of the bitcoins for any reason. There is no disclosed reserve price for this auction.
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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December 04, 2014, 03:45:53 PM |
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The fiat & BTC poor trolls are out in force today.
They must be terrified incase the price rises after this auction.
It's so bitter I can almost taste the lemon.
CCMF soon. 850 BTC wall buy on Finex. Howz that workin' out for you so far? |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 04, 2014, 04:00:59 PM |
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macsga
Legendary
Offline
Activity: 1484
Merit: 1002
Strange, yet attractive.
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December 04, 2014, 04:04:12 PM |
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The fiat & BTC poor trolls are out in force today.
They must be terrified incase the price rises after this auction.
It's so bitter I can almost taste the lemon.
CCMF soon. 850 BTC wall buy on Finex. Howz that workin' out for you so far? Just fine. I'm HODLing as usual.  |
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aztecminer
Legendary
Offline
Activity: 1092
Merit: 1000
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December 04, 2014, 04:28:16 PM |
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"Dollar averaging" is not a rational thing to do, it is only a psychological pacifier, right?
If one bought 100 coins at 800$, buying 100 more at 400$ does not compensate or alleviate the loss of the first buy. It only mixes a vexing mistake with a minor mistake to make a double dose of a medium-strength mistake. The loss from the first buy is still there. Right?
AFAIK it's a common strategy for long-term investors. By spreading out your buys you reduce your risk of buying at a local high but also reduce your chances to buy in on the cheap. i call it 'buying all the way down' when converting usd into accumulating something else like bitcoin. |
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cryyptc
Member
Offline
Activity: 98
Merit: 10
#BITCOIN4LIFE
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December 04, 2014, 04:31:13 PM |
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damb here comes $299 ! oh well i tried |
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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December 04, 2014, 04:32:12 PM |
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The fiat & BTC poor trolls are out in force today.
They must be terrified incase the price rises after this auction.
It's so bitter I can almost taste the lemon.
CCMF soon. 850 BTC wall buy on Finex. Howz that workin' out for you so far? Just fine. I'm HODLing as usual. The thing that worries me about hodlers (and I was one) is that you aren't going to have much money to help stop the crash because you didn't sell anything at the higher level. |
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LFC_Bitcoin
Legendary
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Activity: 3528
Merit: 9547
#1 VIP Crypto Casino
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December 04, 2014, 04:35:19 PM |
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damb here comes $299 ! oh well i tried Derp |
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