[GUIDE] The Big Guide to Common Bitcoin Investing Faux Pas

[Namworld]

Circlejerking, or the time everyone became rich at the same time

I've made 1000% ROI in a few weeks. This proves I'm good and that this asset is a professional one. Every other investor in this asset agrees with me how smart we are.

I've seen that one far too often. Every buyer holds, because prices are rising fast, because buyer holds, because prices are rising fast, etc. etc. Everyone self-congratulates themselves on making such a nice profit and how everyone made 10x their investment and thus constantly recommends it to everyone else.

Then suddenly one person cashes out 100 BTC and everyone's investment halves in value. A bad case of 100 000 BTC common profit becomes 50 000 BTC profit after 100 BTC is cashed out.

Commonly known in the real world as: "The Financial Bubble"
Last seen: "Making multiple appearances on the USD/BTC rate and on various stocks"
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Cluelessness, or the time BTC stocks were a casino

I bought X/Y for Z BTC. Was it a good purchase? What is it they do?

Random purchasing at random prices.

Commonly known in the real world as: "The Novice Penny Stock Trader"
Last seen: "Taking a stroll on IRC channels and Reddit"
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Restlessness, or the time nobody had time for that

20:14:30 [BTC-FAKE] SELL 2 @ 1.50
20:14:42 [BTC-FAKE] BUY 2 @ 1.90
20:14:55 [BTC-FAKE] SELL 1 @ 1.49
20:15:25 [BTC-FAKE] BUY 5 @ 1.92
20:16:32 [BTC-FAKE] SELL 3 @ 1.51

Big prices gaps? Let's just do market order and skip the waiting time. Nevermind that I'm overpaying/underselling by 25% for not waiting a few minutes.

Commonly known in the real world as: "The Thing Stock Traders Hope Were a Real Thing"
Last seen: "Appearing 24/7 at your local BTC stock market"
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Number illiteracy, or the time 1 and 0.01 were the same thing

Our fund will raise 100 BTC with 100000 shares for 0.001 BTC each.

10 seconds after IPO and following week: 0.01 BTC trading price.

A fund worth 100 BTC of various assets is worth 1000 BTC.

Commonly known in the real world as: "The Thing Option Traders Hope Were a Real Thing"
Last seen: "Moving across some desert found within HavelockInvestments.com"
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If you have other such comical situations worth mentioning, I'll make a humoristic entry about it.


TOOLS
Google Spreadsheets auto-updating portfolio JSON functions
Bitcoin Price Alarm

[dexX7]

Great post. Push for visibility!

[jmutch]

pure gold.

[HeRetiK]

research? ain't no time for that!

[BitHub]

Hi namworld i would like to buy 100btc worth

[Namworld]

Hi namworld i would like to buy 100btc worth

I'll print you 100000 pamphlets with this helpful guide printed on.

[drdanishkhan]

Golden 

[freedomno1]

But its a fun rollercoaster XD
Bumping 

[Peter Lambert]

Uninformed, or This is just a pass-through?

This is related to number illiteracy. A company is listed for example on MPEx at price X, but people are buying shares of company-PT at 2X or 3X, or 10X in some cases.

Speaking of which, Namworld, don't you have some BBET to arbitrage?

[EskimoBob]

Good one, Namworld

You forgot my favourite. Noobs and not so noobs are screaming: "Screw the reports and balance sheets! Go back to NASDQ if you need reports. This is bitcoin!"  and so on and on

Or the really retarded one from the gypsy joker (has no idea how and why accounting works) "I invented my own reporting and accounting system. This is the new standard for BTC!"

LOL!

[statdude]

Nice spreadsheet tool - do you or anyone know of a simple Gdoc sheet to update balances from blockchain.info addresses? or does yours do that?

[Namworld]

Nice spreadsheet tool - do you or anyone know of a simple Gdoc sheet to update balances from blockchain.info addresses? or does yours do that?

You could have asked in the thread

=BlockchainBalance("Address")