wachtwoord
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October 07, 2013, 09:20:41 PM |
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So my real options are
1. Store in and come back in 5 years and see what its worth
2. Try to double it in the safest (USD term wise) way - Daytrading
Daytrading is extremely risky in any market. It's speculating. Buy and hold is a very effective strategy in an asset which will appreciate in value. |
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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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N12
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October 07, 2013, 09:22:49 PM |
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It's funny how this forum only knows either day trading or holding forever.
If you don't normally trade daily, you are not a daytrader. Looking at the typically dull volumes, I doubt there are many day traders, maybe some small ones.
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QuestionAuthority
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October 07, 2013, 09:24:34 PM |
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It's funny how this forum only knows either day trading or holding forever.
If you don't normally trade daily, you are not a daytrader.
What if you trade every other day, are you a gay(bi) daily trader? |
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N12
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October 07, 2013, 09:26:41 PM |
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Swing trading maybe. It would probably be best to call it "trading" generally, because there are 2 large fractions here: those who trade at all and those who don't.
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QuestionAuthority
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You lead and I'll watch you walk away.
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October 07, 2013, 09:34:03 PM |
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Swing trading maybe. It would probably be best to call it "trading" generally, because there are 2 large fractions here: those who trade at all and those who don't.
Traders are looking for fast small returns. Investors are looking for large secure returns over time. It's safe to call the people looking for small rapid returns day traders. Day traders watch the market daily but may not initiate a trade unless the market is favorable and that may not be daily. |
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N12
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October 07, 2013, 09:39:48 PM |
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Words have meanings. http://oxforddictionaries.com/definition/english/day-tradinga form of share dealing in which individuals buy and sell shares over the Internet over a period of a single day’s trading, with the intention of profiting from small price fluctuations. But sure, it doesn't mean you have to trade every single day to be a day trader. My point is that you can trade on a frame of weeks/months too. |
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wachtwoord
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October 07, 2013, 09:41:58 PM |
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It's all moot. He wanted to do day trading (suggesting it's reliable) and I advised against all forms of speculation (day trading is a form of speculation) and instead to invest, which is far more reliable. |
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Richy_T
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October 07, 2013, 09:48:48 PM |
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Yes, I hear there's a great market gap in online drug stores.  Or you could create a fork that redistributes FBI stolen Bitcoins. is this possible? Technically, yes. Realistically, you'd never get enough people to agree to run it and if you did, it would probably be the end of Bitcoin. |
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N12
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October 07, 2013, 09:48:53 PM |
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If he has an edge (if) that allows him to sustainably gain purchasing power over time, then I don't see why he shouldn't trade. Buy and hold is risky too because you expose yourself to 100%. Successful trading will decrease your risk even though it's hard to outperform buy and hold for Bitcoin for profit, but this profit comes at a cost.
Most here haven't experienced the 2011 bear market where price went from 32 to 2. Risk management has its uses.
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Richy_T
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October 07, 2013, 09:49:28 PM |
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What if you trade every other day, are you a gay(bi) daily trader?
Buy-curious. |
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N12
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October 07, 2013, 09:59:40 PM |
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I don't think Bitcoin is moving quickly at all currently, and the volumes seem dreadfully low to me even if you factor in Bitstamp. Certainly compared to the bubble and its aftermath, we are in a lull. My guess is we can in part thank MtGox for it because it's holding most of the Bitcoin allocated speculative money hostage.
By the way, if this abysmally low volume continues for more weekdays, it may be attributable to the loss of Silk Road. It's only natural it would account for a lot of liquidity (especially in the smaller trades).
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ChartBuddy
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October 07, 2013, 10:02:46 PM |
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wachtwoord
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October 07, 2013, 10:12:32 PM |
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If he has an edge (if) that allows him to sustainably gain purchasing power over time, then I don't see why he shouldn't trade. Buy and hold is risky too because you expose yourself to 100%. Successful trading will decrease your risk even though it's hard to outperform buy and hold for Bitcoin for profit, but this profit comes at a cost.
Most here haven't experienced the 2011 bear market where price went from 32 to 2. Risk management has its uses.
I believe the only one with an edge is the exchange. But if someone can actually have an edge then it's just like playing poker and can be profitable. |
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wachtwoord
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October 07, 2013, 11:00:18 PM |
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Finally! We're all Billionaires in AUS$!  |
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theonewhowaskazu
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October 07, 2013, 11:00:59 PM |
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Finally! We're all Billionaires in AUS$! WTF? |
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ChartBuddy
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October 07, 2013, 11:02:50 PM |
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adamstgBit
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October 07, 2013, 11:26:34 PM |
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Finally! We're all Billionaires in AUS$! WTF? and people thought i wasn't serious when i called for infinite $ for 1 BTC by the 17th Oct 2013, early today when will you guys accept the fact that i am never wrong?  ref: 180 by friday. infinity by the 17th |
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Walsoraj
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October 07, 2013, 11:35:12 PM |
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Ok so whats the plan? Do we all panic, and in what direction? plz advise
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adamstgBit
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October 07, 2013, 11:37:24 PM |
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 180 by friday. infinity by the 17th
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