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Author Topic: Is now a good time for a first time buyer to buy?  (Read 1579 times)
lowberry
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July 05, 2011, 07:30:43 PM
 #1

seems the bitcoin has been dropping, however looks like it just went from 12 to 13 again, is it likely to keep dropping below 12? or more likely to stabilize? I want to make my first purchase of about $300 worth but im not sure if i should do it now or wait a bit
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lowberry
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July 05, 2011, 07:32:58 PM
 #2

back to 12, damn keeps going up and down, im scared if i buy now i might see them at like $10 tommorow
LunarCastle
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July 05, 2011, 07:33:55 PM
 #3

In terms of trading I am a newb, I saw it drop to 14.350 yesterday and bought in with my $50 thinking it wouldn't go any lower. SURPRISE! Man you should have seen the look on my face when I checked the exchanges and saw it down to 11 today! Oh well, I guess that's going to happen to someone as inexperienced as me.
lowberry
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July 05, 2011, 07:37:40 PM
 #4

i probably would have done the same but luckily i have no funds on mtgox as ive been waiting for my deposit to dwolla to clear for the last 5 days so in a way theyre doing me a favor by taking so long lol
BitOffer
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July 05, 2011, 07:40:02 PM
 #5

After Mtgox hack, there was a thread poll. The majority voted that they think its going to $10. I know that doesn't mean much, but that's my buy in target. It just hit $11 and bounced. That may be the lowest we see, but the sentiment indicator is still bearish/neutral.
karoshi
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July 05, 2011, 07:48:25 PM
 #6

i think now is the best time to buy btc.

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SgtSpike
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July 05, 2011, 07:50:00 PM
 #7

It may go up, it may go down.  You'll only know if it was a good time to buy in hindsight.
kingbc
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July 05, 2011, 07:56:08 PM
 #8

I read somewhere that it was $1 in April, 2011. I would like to invest in BTC but only after it has been through more trial and problems.
done
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July 05, 2011, 08:11:35 PM
 #9


BUY and hold (or use) if the price goes down BUY some more and hold (or use)
mr34727
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July 05, 2011, 08:26:08 PM
 #10

Yeah it sat around $15 for awhile after the crash, seemed pretty stable. I don't know why the recent drop happened, maybe the July 4th weekend??
sadpandatech
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July 05, 2011, 08:34:41 PM
 #11

In terms of trading I am a newb, I saw it drop to 14.350 yesterday and bought in with my $50 thinking it wouldn't go any lower. SURPRISE! Man you should have seen the look on my face when I checked the exchanges and saw it down to 11 today! Oh well, I guess that's going to happen to someone as inexperienced as me.

One of the key mistakes a lot of us new(ish) investors make is not setting a time period that we would expect our investment to gain.  Did you buy at 14.35 with the mindset that it would instantly go up beyond that? Or even in a week or some such short period? Hopefully not.  There really isn't a 'bad' price to buy at as long as you are confident that within the time period that you intend to invest for, you believe the price will increase beyond your entry price.


My only regret is that we did not have a confident place to sell short on this thing. :/

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GA
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lowberry
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July 05, 2011, 08:51:27 PM
 #12

13.75 now


damn im gona regret this if they keep going up
TerraformProjectAlpha
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July 05, 2011, 08:51:54 PM
 #13

The thing that is good with what is happening now, is that it is becoming steadily more stable.  I don't think it will drop again below 11, what I believe will happen is it will level off and chill at the current rate for about a week or two, and slowly climb back up.  But that is the key, slowly.  This is a really good thing, once the volatility of bitcoin drops, once it becomes stable day to day, it will  become strong.  

Right now, buisnesses don't want to have to play the market game with their income.  They want stability, and honestly I think this hit that the market took (including mtgox "crash") played to bitcoin's favor.  It gave people a little bit of fear, which is what is needed to make bitcion values not jump around like a bunny on crack.  

My prediction, a period of consistency, followed by a period of slow growth, so yes, I believe that now (before the slow growth) is the best time to buy, and don't be scared by the slight drops and raises that are likely to occur in the next couple days
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July 05, 2011, 09:37:47 PM
 #14

13.75 now


damn im gona regret this if they keep going up


If you want to buy for the long-term, don't worry about these fluctuations - just buy your BTC and walk away for a year or two. Long term, BTC is either going to >$100, or <$1. Is it really gonna matter that much if you bought your first 20BTC at $12 or $14?

If you're just a short-term speculator or trend-trader, well, I'd hope you'd be a bit more sophisticated with your technical analysis/chart skills, and wouldn't need to consult the newbies forum...

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
lowlevel
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July 07, 2011, 07:29:25 PM
 #15

I think at this point, buying bitcoins around $12-13 and hoping for the best makes more sense than trying to mine them. If I was just starting out now, I would try to buy 10 BTC about 5% lower than current price... then try to sell them for 5% higher than current price on a busy exchange.  If you're too aggressive, you'll get stuck when they drop... and if you can't get much more than that, its not really worth it after the buy/sell commissions/etc.  So, I'de do that a few times until I had say 15 BTC. Pay attention and if you think the values going down, you sit on USD.. if you think its going up.. you sit on BTC.  Basically, don't bet the farm... don't put up money you can't afford to lose because no one knows what will happen with the value... I'm expecting it to be in the $10 range next week if the past months performance is any indication.

Good luck! Grin
-lowlevel

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nighteyes
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July 07, 2011, 10:09:01 PM
 #16

just buy less.
HappyGuy
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July 08, 2011, 12:03:29 AM
 #17

I'm not expert - but I was very suprised that it recovered from its drop to 11.  I thought for sure it would drop down into the low single digits.  Frankly, the value of bitcoin at this point is transactional, and there arent a great deal of businesses to transact with.  However, in the long term, as prices begin to stablize and/if bitcoin proves itself reliable it could become a real store of value.  I've been following for about a month now and I am very eager to watch the future.

 Grin
Melbustus
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July 08, 2011, 04:21:21 AM
 #18

Yeah, I thought the price would be tanked for weeks following the mtgox incident, but it rebounded in minutes... Very encouraging sign of the robustness of the BTC community/economy.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
Garr255
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May 29, 2012, 11:17:18 PM
 #19

I hope you didn't buy then!

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cytokine
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May 29, 2012, 11:48:19 PM
 #20

Any time is a good time to get out of the fiat money system.
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