What the fuck is going on...
BTCBTC skyrocketing
weee
>>pic<<
Just bought another small fraction. Now I have whopping 0.25 BTC. I cant remember the last time i had that much
I love these corrections
next buy order at 10k
If we get to 6k, i might have whole 1 BTC by then
[edited out]
im not worried about long time holders, I believe they would survive another brief 40% drop like they had to many times before.
You are correct that long time HODLers and already seasoned BTC traders are going to be in decent shape in a wide variety of scenarios, even with an additional 40% price drop, if it were to happen.
There is a plane B as well (actualy thats A), to accumulate through alts, which seems to be much easier than waiting for very deep dips.
To each his own. I personally don't place a lot of value in playing around with alts - but I do acknowledge that there have been a lot of folks who have been able to play alts in such a way that have allowed them to accumulate more BTC than if they were playing BTC by itself - yet at the same time, any time that we consider any strategy, we need to consider our strategy from the here and now, rather than gambling merely based on the fact that others have been able to filthily and exorbitantly profit in the past.
Yeah, I find it strange too, but have already wrote somewhere, that i was hit but nearly every exchange scam since 2011
Back then I was just a poor boy with old computer.
I don't think that it is productive psychologically to blame others for your losses. Sure there are scams, but each of us still need to act prudently. If we are considerably (and maybe too much) focused on getting rich quick, then we are not going to build our principle and we are going to be opening ourselves up for getting scammed.
I personally believe that it is better to plan slowly and methodically (and maybe you will get lucky once in a while to be in the right place at the right time) rather than gambling too much with our principle which ultimately is going to cause you to lose the principle. Initially, I put in a pretty decent amount of capital into bitcoin, but then my trades generated only small profits, however, as the price went up and with the passage of time, I am able to structure the trades to make more and more and more money, while preserving a vast majority of my principle. I have been scammed a few times, too, but I still have been able to retain a considerable amount of profits - so instead of having a 40x return, I probably only got around a 20x return (and of course my return kind of floats around a bit based on the ongoing volatility of bitcoin and the fact that I retain a decent amount of value invested into bitcoin).
I left back to forex several times after i got tired of getting scammed-but always returned after while... and finally quit with FOREX rigged game for good last summer.
[I can still remember my first encounter with scammer - on IRC otc market:
https://bitcoin-otc.com/viewratingdetail.php?nick=FractalUniverse&sign=NEG&type=SENT]
The grid trading system is very good for bitcoin, you are playing it very safe. Im much more aggressive in trading, but true- its connected to amount of funds involved.
Sure, i have to concede that the more money you have in, then the more money you can make, and make it safely.
Also, I still believe that you have to focus on slow accumulation rather than trying to leverage small amounts.
There is large amount of variations to grids. its not necessary to accumulate or release slowly. Increments and position size may be variable as well as fixed; and if it goes in one direction for too long, defensive strategy can be used (slowly rebuying high or decreasing positions when it gets out of comfortable zone, hedging, playing with support/resistance etc. .. use your imagination, its not crucial to get in close to bottoms or sell close to top). But of course, when/if it gets to the point when i have optimal funds for trading, BTC profits will go into offline wallet.
It appears that conceptually, you understand the principles, and so it is a matter of you putting principles to practice without getting too greedy in the whole process.
Many holders here have lots of bitcoins because -years ago- you/they did what I didnt. And interestingly, im not envious at all. There is no problem to get back on track in this phase. Its not too late yet.
There is some truth to that, but there is also some truth that some posters here only had a few thousand to invest and they did not buy very many bitcoins; however, they are now rich because they held onto their bitcoins, or if they purchased something with bitcoin, they bought back in a reasonable time in order to maintain their BTC holdings.
So folks here may be considered rich or filthy rich, even if they did not have a really large initial investment and even when they may have been a bit chicken shit about investing too much into bitcoin. If you were around the thread in 2015, there were plenty of folks either shedding decent sizes of their bitcoin holdings and/or failing/refusing to buy bitcoins.
I think that you are correct that it is not too late, and bitcoin remains a good investment, even in the $10k to $12k price arena.
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