virtualfaqs
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December 21, 2013, 09:50:43 AM |
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I've had three friends pull their money out and walk away from bit coin over the past few days.
Well done market makers / manipulators!
Really? They didn't know going in that this happens? I am very careful to explain the risks and how these things work to my friends. Not one is less interested now than they were, which is to say most are quite sorry they didn't buy when I told them they should ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Did your friends lose money? He lost about 3-4K $... oh well There was a lady who bought at $1000 posting on this forum who had to take out a loan on their house to buy her first BTC. Kept talking about her dad investing 3000 BTC and trying to convince her to make her first buy. I wonder what happened to her. ![Embarrassed](https://bitcointalk.org/Smileys/default/embarrassed.gif) I'm still here ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . Still reading... Still 'hodling'. I paid $1080 for each of my 11.1 bitcoins and have not sold - I rationalise this like so: bitcoin is only worth as much as someone is willing to pay for it right? And I refuse to sell them for less, which means they are still worth at least $1080 . Ergo, I have lost no money ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) . How's that for a comforting delusion? That's not delusion, an unrealized loss is not a loss. I wish I had that strength-- if you continue your patience, you will be rewarded like so many else who have held. Hopefully, it's not rent money, and you don't need to touch it for several months or a year. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) That's a great way of putting it. I'm definitely going to use that when one of my anti-Bitcoin friends throws the dropped price in my face -- "An unrealized loss is not a loss." No, it's not rent money ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . I tried to abide by the old adage; "Only invest what you can afford to lose." I see that one has been thrown around this forum a lot actually. Easier said than done though I suppose! That is good mentality. I predict we should be able to hit $1000 again sometime in 2014. With overstock.com news looming and possible other retailers following afterwards. However price will probably continue going down until after Jan 31.
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virtualfaqs
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December 21, 2013, 09:53:17 AM |
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I've had three friends pull their money out and walk away from bit coin over the past few days.
Well done market makers / manipulators!
Really? They didn't know going in that this happens? I am very careful to explain the risks and how these things work to my friends. Not one is less interested now than they were, which is to say most are quite sorry they didn't buy when I told them they should ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Did your friends lose money? He lost about 3-4K $... oh well There was a lady who bought at $1000 posting on this forum who had to take out a loan on their house to buy her first BTC. Kept talking about her dad investing 3000 BTC and trying to convince her to make her first buy. I wonder what happened to her. ![Embarrassed](https://bitcointalk.org/Smileys/default/embarrassed.gif) I'm still here ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . Still reading... Still 'hodling'. I paid $1080 for each of my 11.1 bitcoins and have not sold - I rationalise this like so: bitcoin is only worth as much as someone is willing to pay for it right? And I refuse to sell them for less, which means they are still worth at least $1080 . Ergo, I have lost no money ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) . How's that for a comforting delusion? That's not delusion, an unrealized loss is not a loss. I wish I had that strength-- if you continue your patience, you will be rewarded like so many else who have held. Hopefully, it's not rent money, and you don't need to touch it for several months or a year. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Mad props for even finding my post. Money is on loan against the house right? Need to calculate loan interest and compare it to BTC EV - Tough call. Good luck to you!!! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Thanks! I did do some calculations before buying the coins - the repayments on the house are so much anyway that a withdrawal of $12k hardly makes a difference (isn't that depressing). Never really taken a risk like this before, but what the hell right? Besides, after reading about Bitcoin (my research at work took a backseat - oops) it's become a bit of an obsession... I only picked up on your post because I read this damn thread every day and have the bitcoinwisdom tab open all day to monitor the price. It's almost (almost!) worth paying $12k just to be a part of this ride..... well maybe not that much ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) . Debt is against my religion - going into debt to make a speculative investment feels so crazy to me that it blows my mind. I guess you US folks are so much in debt that you give zero fucks about going into debt a bit more. That said, is clear that the average investment for participants in the market is growing. When I bought into BTC, throwing at it $5k was definitely a bold move, and above the average. As an example, even rpietila, who had experience with gold and silver, bought in with only $10k, which anyhow was way above the average investment at the time he bought in. I guess the rule was: "throw only play money you can definitely afford to throw to the trash bin; if BTC realizes its potential it will be more than enough". This is changing fast and newcomers are starting to throw serious money to BTC, taking loans and so forth. That's a dangerous game. During the next boom and bust cycle expect "real life stories" of people who lost everything to BTC because of wrong choices, anxiety and poor understanding of the nature of BTC. I guess that's what we get with mainstream attention. I'm sure that's already happened. Has to be 1 guy who bought at $1200 and sold at $450. For every winner, there has to be a loser.
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wilfried
Sr. Member
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ManualMiner
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December 21, 2013, 09:57:56 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
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TERA
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December 21, 2013, 09:58:54 AM |
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The 4 hour and daily chart looks terrible, but meanwhile there are all these giant sexy walls on gox and stamp. Cmon let's see this final capitulation already so I can buy and hodl (and start sleeping again).
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ChartBuddy
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December 21, 2013, 10:01:53 AM |
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TERA
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December 21, 2013, 10:02:38 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling
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wilfried
Sr. Member
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ManualMiner
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December 21, 2013, 10:07:05 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) thats elaborated, i only do quick in and out movements, but i have a hard time getting my orders executed, so the market moves away and 20 min later i am still sitting and waiting.. another question or maybe more a poll: do you rather speculate according to the short term trend or do you rather bet on the next trend ? (i.e. now m1 it should go down but is rather pointing upwards; over all its sideways, so going long or short is merely guessing i think. as i am not guessing at the moment i am waiting for a longer up/down movement)
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TERA
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December 21, 2013, 10:09:20 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) thats elaborated, i only do quick in and out movements, but i have a hard time getting my orders executed, so the market moves away and 20 min later i am still sitting and waiting.. When I'm doing hardcore rapid daytrading during a crash I don't use emas for my entries. I use the order books and volume.
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wilfried
Sr. Member
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ManualMiner
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December 21, 2013, 10:12:13 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) thats elaborated, i only do quick in and out movements, but i have a hard time getting my orders executed, so the market moves away and 20 min later i am still sitting and waiting.. When I'm doing hardcore rapid daytrading during a crash I don't use emas for my entries. I use the order books and volume. me too, i am always trying to buy very close @ the actual highest bid, but with low volume thats a pain
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mmitech
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December 21, 2013, 10:13:24 AM |
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good morning guys, so what happened last night ? I see a dump that brought us to 550 and it seems that this appeared only on stamp ....
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rpietila
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December 21, 2013, 10:13:57 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling I rarely buy and sell the same day (except when arbing, but that kinda died out with BTC China). Actually made only 3 major moves on our way down from the top: - sell at 925-870 - buy at 670-420 - sell at 610-720 Next I will buy back cheaply.
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wilfried
Sr. Member
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ManualMiner
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December 21, 2013, 10:17:37 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling I rarely buy and sell the same day (except when arbing, but that kinda died out with BTC China). Actually made only 3 major moves on our way down from the top: - sell at 925-870 - buy at 670-420 - sell at 610-720 Next I will buy back cheaply. nice ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) i did buy some @ 550, 480, 460, 440 and will hold until 2015 or longer
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TERA
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 21, 2013, 10:23:28 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) thats elaborated, i only do quick in and out movements, but i have a hard time getting my orders executed, so the market moves away and 20 min later i am still sitting and waiting.. When I'm doing hardcore rapid daytrading during a crash I don't use emas for my entries. I use the order books and volume. me too, i am always trying to buy very close @ the actual highest bid, but with low volume thats a pain I like to observe the action on btcchina and the walls at gox while making my entries on btce and bitfinex which lag slightly. Even then though it's difficult to get the exact bottoms like you say. When things are moving fast and there's a large enough reward on the table, I don't play around over a few bucks trying to place bids exactly in front of walls etc - theres no time for that - I bid where I will make sure my order is getting filled - Even if I am $30 away from the bottom its much better than missing the $150 train. Market orders are worth it many times. I mean buying the ask. Bitfinex has some nice deep asks. But don't ever do an actual "market order" on bitfinex because bad things happen.
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User705
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December 21, 2013, 10:32:51 AM |
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daytraders, whats your actual timeframe you speculate on? 2h?
5 minutes for quick in and out movements 15 minutes to denote the local end of a sharp crash for the day 1 hour to predict a nice breakout. 4 hour to go all in 1 day for da cold storage hodling I rarely buy and sell the same day (except when arbing, but that kinda died out with BTC China). Actually made only 3 major moves on our way down from the top: - sell at 925-870 - buy at 670-420 - sell at 610-720 Next I will buy back cheaply. Do you see the market testing the old april ATH?
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wilfried
Sr. Member
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ManualMiner
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December 21, 2013, 10:33:35 AM |
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since btcchina seemes to have detached i am observing gox, backchecking with btc-e and if bitstamp follows i place my orders on bitfinex. i dont really trust in btc-e to trade; i have some dismal experiences with metatrader+btc-e ..
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DaRude
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December 21, 2013, 10:36:12 AM |
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good morning guys, so what happened last night ? I see a dump that brought us to 550 and it seems that this appeared only on stamp ....
Hmm yeah what's up with that 2.6k market sell that brought stamp to $550? Is that a glitch cause the market didn't react at all
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TERA
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December 21, 2013, 10:38:54 AM |
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good morning guys, so what happened last night ? I see a dump that brought us to 550 and it seems that this appeared only on stamp ....
Hmm yeah what's up with that 2.6k market sell that brought stamp to $550? Is that a glitch cause the market didn't react at all It's typical Stamp behavior that started ever since the rally from 100. Someone dumps deep into the book and then nobody notices or cares, the bots fill in the space which never gets touched again, and it actually becomes something bullish that causes a small rally above where it started.
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joburgtaxi
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December 21, 2013, 10:39:39 AM |
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Hi what's the best website to go to for seeing the walls for ask & bid ?
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ElectricMucus
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December 21, 2013, 10:40:09 AM |
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good morning guys, so what happened last night ? I see a dump that brought us to 550 and it seems that this appeared only on stamp ....
Hmm yeah what's up with that 2.6k market sell that brought stamp to $550? Is that a glitch cause the market didn't react at all There are no glitches. That was an attempt to trigger the panic prematurely.
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DaRude
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In order to dump coins one must have coins
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December 21, 2013, 10:47:38 AM |
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good morning guys, so what happened last night ? I see a dump that brought us to 550 and it seems that this appeared only on stamp ....
Hmm yeah what's up with that 2.6k market sell that brought stamp to $550? Is that a glitch cause the market didn't react at all It's typical Stamp behavior that started ever since the rally from 100. Someone dumps deep into the book and then nobody notices or cares, the bots fill in the space which never gets touched again, and it actually becomes something bullish that causes a small rally above where it started. Interesting so someone eats up the order book with 2k coins and market doesn't react at all. Didn't see these before
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