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Author Topic: So who sold below $100 during the SR "crash"?  (Read 4346 times)
johnyj
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October 18, 2013, 07:55:53 AM
 #41

Congrats to those who had their bids filled. I think that was the last drop below $100.

Time will tell.
Maybe not a bear market to below $100, but after the SR incident I am convinced that anything is possible during a flashcrash with the right mix of panic and idiot market dumpers, especially with these thin books. After all there is only 20K btc bids on the entire book at Bitstamp (the market leader). Just 8K would take us to 100 right now. Gox used to have those kinds of dumps all the time like they were nothing.  Gox had 20-50k dumps even.

Even during the crash, the ask volume did not increase that much, this indicated that bitcoin has been widely distributed since last crash and now not so many people have large amount of coin or have the willing to sell


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October 18, 2013, 10:55:50 AM
 #42

Congrats to those who had their bids filled. I think that was the last drop below $100.

Time will tell.

Yeah good point.

Say goodbye.
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October 18, 2013, 11:48:33 AM
 #43

I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.


well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......
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October 18, 2013, 12:06:50 PM
 #44

I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.


well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......

Props for having courage to admit to failed trades.
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October 18, 2013, 12:14:03 PM
 #45

I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.


well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......

Ouch.. that must have hurt quite a bit. But this is bitcoin, if you're able to learn from this experience you will get a chance to make up your losses and more. Just stay away from the altcoins unless you know what you're doing. Tongue

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October 18, 2013, 12:33:47 PM
 #46

I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.


well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......

I'm sorry for your loss. Sad

Don't think Litecoin was a good decision though. Risk/reward much lower than bitcoin.

I get the impression you still try to escape/makeup the loss, instead of accepting it, hence another poor decision.

Also, I think all-in can almost never be justified unless the market is at extremes, which clearly is not the case for Litecoin valuation.

Indeed great you recognize your mistake. Many don't do that so you are ahead.

Next step is not to take investment decisions with your emotions but instead ask questions 'what if it goes up from here, am I good?' 'what if it goes down from here, am I good too?', 'what are the chances that it goes up, what are the chances that it goes down?' etc. Try to listen to all your parts, the fearful and greedy, do not let one part of you take you over but hear them out, negotiate with them and take a decision that all your parts agree with and you will make much wiser decisions.  

This speculation board is full of hypers and spammers that try to drag you into the market mood, often with 'hero member' status, watch out for them.
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October 18, 2013, 01:11:07 PM
 #47

I panic sold at $98 in bitstamp, I watched the price drop till 85 I didn't want to buy back there, I thought the price will drop even more, I went outside to smoke a cigaret when I went back price was rising around 96-97 $, I didn't want to buy, after 10 min it went up to 120$ and dropped back to 105$ and I still didn't buy, I thought maybe this is just the start, the price start climbing back, just then I knew I fucked up, I waited a couple of days to see price just going up, so I decided to buy LTC instead. I went all in LTC.


well even Litecoin isn't doing good, long story short, I lost a total of 20 BTC......

I'm sorry for your loss. Sad

Don't think Litecoin was a good decision though. Risk/reward much lower than bitcoin.

You still try to escape/makeup the loss, instead of accepting it, hence another poor decision.

Also, all-in can hardly be justified unless the market is at extremes, which clearly is not the case for Litecoin valuation.

Indeed great you recognize your mistake. Many don't do that so you are ahead.

Next step is not to take investment decisions with your emotions but instead ask questions 'what if it goes up from here, am I good?' 'what if it goes down from here, am I good too?', 'what are the chances that it goes up, what are the chances that it goes down?' etc. Try to listen to all your parts, the fearful and greedy, do not let one part of you take you over but hear them out, negotiate with them and take a decision that all your parts agree with and you will make much wiser decisions.  

This speculation board is full of hypers and spammers that try to drag you into the market mood, often with 'hero member' status, watch out for them.

I do not listen to trolls and speculators, I usually try to analyze data, fellow the market and base my buy/sell decisions on predicted news or analyzes, though the Silk road news was something different, for a moment I didn't understand what was going on, I tired to read the news and decide what to do, but price kept dropping down before I got my shit together, this is why I panic sold out.... sadly after I sold all my BTC, I was sitting and reading what was the SR news all about, so I decided to buy back but at lower price to make some profit out of the situation..... and you know the rest of the story.

I witnessed few crashes, and we usually took some time to recover, but the last crash was unpredicted, zthe price recovered so fast, that it amazed me.

my decision about Litecoin was taking a great risk that might bring a great reward, the thing about LTC is that all traders on BTC-e are just jumping from one to another coin, as soon as BTC start rising they dump LTC and buy BTC, as soon as LTC start rising the dump BTC and buy LTC and all over again.

in all different situation i have been at, I found that buying BTC and holding it no matter what is the best thing you can do.
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October 18, 2013, 02:06:09 PM
 #48

Heads Up!

Ritual Shaming of the Bears in the progress.


Bearish indicator
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October 18, 2013, 02:10:56 PM
 #49

Heads Up!

Ritual Shaming of the Bears in the progress.


Bearish indicator

Only if you think that the posts on speculation forums matter. ^^
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October 18, 2013, 02:12:47 PM
 #50

Heads Up!

Ritual Shaming of the Bears in the progress.


Bearish indicator

Only if you think that the posts on speculation forums matter. ^^

Single posts, no.  But when there is a clear bias of opinion shared by most posters...

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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October 18, 2013, 02:18:02 PM
 #51

Heads Up!

Ritual Shaming of the Bears in the progress.


Bearish indicator

Only if you think that the posts on speculation forums matter. ^^

Single posts, no.  But when there is a clear bias of opinion shared by most posters...

It's a great lagging indicator, it shows you what people have done.
After they've bought they will post here that they think Bitcoin will go up and when they have sold they will post here why they think it will go down.
It's usually more effective to look at the charts and news though ^^
Maybe it can be helpful when the influence of things are discussed that haven't happened yet, but I also remember a lot of posts claiming that the end of SR would be dramatic for Bitcoin.
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October 18, 2013, 02:23:30 PM
 #52

Heads Up!

Ritual Shaming of the Bears in the progress.


Bearish indicator

Only if you think that the posts on speculation forums matter. ^^

Single posts, no.  But when there is a clear bias of opinion shared by most posters...

It's a great lagging indicator, it shows you what people have done.
After they've bought they will post here that they think Bitcoin will go up and when they have sold they will post here why they think it will go down.
It's usually more effective to look at the charts and news though ^^

Unless you have a bot that can read the news and trade, you will not react quick enough for that to be useful.  Knowing what people have done is the basis for why you look at charts.  The market eats overconfident positions.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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October 18, 2013, 05:31:17 PM
 #53

Heads Up!

Ritual Shaming of the Bears in the progress.


Bearish indicator

Only if you think that the posts on speculation forums matter. ^^

Single posts, no.  But when there is a clear bias of opinion shared by most posters...

This is pretty much a single post and its smoothie so it doesnt count.

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LEALANA Monero Physical Silver Coins


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October 18, 2013, 08:24:32 PM
 #54

Heads Up!

Ritual Shaming of the Bears in the progress.


Bearish indicator

Only if you think that the posts on speculation forums matter. ^^

Single posts, no.  But when there is a clear bias of opinion shared by most posters...

This is pretty much a single post and its smoothie so it doesnt count.

It doesn't ? Wink

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RodeoX
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October 18, 2013, 08:28:33 PM
 #55

I'm no financial genius, but try doing the opposite of what others are doing. I make the most money buying when everyone is selling and spending when everyone else is buying. 

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
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October 18, 2013, 08:31:33 PM
 #56

i admit it. i sold into that crash. fml, right? i had to be in front of the computer at exactly the time it happened. again, f m l
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October 18, 2013, 08:52:00 PM
 #57

I'm no financial genius, but try doing the opposite of what others are doing.

I'm NOT destroying my Bitcoins. Fancy doing the opposite of that?

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October 18, 2013, 10:08:41 PM
 #58

fml, for not buying at 85 when I had the chance.

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October 19, 2013, 12:55:26 AM
 #59

Buying at $88 was a GREAT IDEA!

It was not even a conscious decision. I just had buy orders sitting around that I forgot about.

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October 19, 2013, 01:36:29 AM
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Certainly none of us Keynesians sold.  The severe decrease in velocity was bound to explode the price. (*)

* Actually, this is more or less a complete troll.  I only thought of it yesterday, and don't even know if the relationship between currency value and velocity is Keynesian, universal, or even valid or what.  Sounds good though.


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