Primrose (OP)
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Activity: 75
Merit: 10
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October 22, 2013, 06:55:40 PM |
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I bought two btc's in March at a loss, £130 ish, and more or less accepted the loss and put it down to experience.
I decided that when they next go right down, i.e. below £30, that I would buy another couple and of course, at that price, I would be prepared to lose the money.
Instead, to my dissappointment, i am finding that they have been creeping steadily up from £80-ish to over £120 now.
I can see why the bubble happened in March but why are they creeping up like this?
Am I never going to be able to buy a couple more for below £30?
Thanks, from someone who is pretty ignorant on all the techy aspects of bitcoin but had fun doing a little trading, even though I lost the money.
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Primrose (OP)
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Activity: 75
Merit: 10
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October 22, 2013, 06:59:07 PM |
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I think it has something to do with the Chinese buying loads of bitcoins for the last few days.
Aww thanks. Why are the Chinese suddenly buying loads of btc? Don't they realise they are stopping me from buying any? hahahhah Nah, seriously why are they buying them? Thanks |
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Pruden
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October 22, 2013, 07:02:51 PM |
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Because they mend their mistake of not having bitcoins faster than you.  |
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freequant
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October 22, 2013, 07:03:44 PM |
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Am I never going to be able to buy a couple more for below £30?
Don't worry, it's a matter of hours before you can buy BTCs for dirt cheap again. |
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Buffer Overflow
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Activity: 1652
Merit: 1015
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October 22, 2013, 07:07:26 PM |
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Am I never going to be able to buy a couple more for below £30?
Don't worry, it's a matter of hours before you can buy BTCs for dirt cheap again. Will I be able to buy them for £3 again? I remember those days. |
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bestxchanger
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October 22, 2013, 07:09:01 PM |
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They buy whatever they can,gold,usd and now btc,because the yuan is worthless
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Rival
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October 22, 2013, 07:09:10 PM |
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Am I never going to be able to buy a couple more for below £30?
Don't worry, it's a matter of hours before you can buy BTCs for dirt cheap again. Will I be able to buy them for £3 again? I remember those days. Only if you can mine them with a GPU again. Not much chance of that. |
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zeroday
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Activity: 784
Merit: 1000
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October 22, 2013, 07:10:40 PM |
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China is sleeping now. Let's wait until their morning. it's possible we will pass $300 then.
Soon I'll get some more fiat so I will spend it entirely on btc, and I have no intention to sell it even at $500.
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c1010010
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October 22, 2013, 07:12:17 PM |
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Am I never going to be able to buy a couple more for below £30?
Don't worry, it's a matter of hours before you can buy BTCs for dirt cheap again. Will I be able to buy them for £3 again? I remember those days. Only if you can mine them with a GPU again. Not much chance of that. CUP and GPU are dead. |
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Rluner
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October 22, 2013, 07:17:31 PM |
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Its unlikely, but not impossible IMHO that you can ever buy at below £30. But you could wait forever to see. No one can say for sure if they will continue to rise; or dip and rise, or just crash and burn. Best advice is as always invest what you can afford to lose, be it £1 or £1 million pounds, its relative to your situation. We are all in the same boat don't worry. Now you have to ask yourself "Do you feel lucky Punk?" (Quote from http://www.youtube.com/watch?v=8Xjr2hnOHiM for the younger ones.) |
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Equus
Full Member
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Activity: 136
Merit: 100
Why the long face?
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October 22, 2013, 07:32:37 PM |
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LOL "creeping up."
Bitcoin creeps about as well as my two-year-old. Perhaps when it actually hits the ceiling you might be able to scoop it up off the floor before it bounces back up and starts running again.
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-.-. -.-. -- ..-.
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MAbtc
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October 22, 2013, 07:45:13 PM |
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Hehe, yeah I wouldn't exactly call this "creeping up", especially looking at BTCChina, for instance. Straight up parabolic. I wouldn't hold my breath for sub-£30 coins, but it's possible.
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Primrose (OP)
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Activity: 75
Merit: 10
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October 22, 2013, 08:04:13 PM |
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Thanks for pointing me towards the Chinese thing.
It may be their bedtime, but it's the US's daytime now.
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udet4food
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October 22, 2013, 08:11:44 PM |
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I bought two btc's in March at a loss, £130 ish, and more or less accepted the loss and put it down to experience.
I decided that when they next go right down, i.e. below £30, that I would buy another couple and of course, at that price, I would be prepared to lose the money.
Instead, to my dissappointment, i am finding that they have been creeping steadily up from £80-ish to over £120 now.
It shows how panic selling is bad and just making the traders rich  |
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Primrose (OP)
Member
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Activity: 75
Merit: 10
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October 22, 2013, 08:16:59 PM |
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I bought two btc's in March at a loss, £130 ish, and more or less accepted the loss and put it down to experience.
I decided that when they next go right down, i.e. below £30, that I would buy another couple and of course, at that price, I would be prepared to lose the money.
Instead, to my dissappointment, i am finding that they have been creeping steadily up from £80-ish to over £120 now.
It shows how panic selling is bad and just making the traders rich I bought thinking they would keep going up but woops! Still, the way things are going, I may not have lost my money afterall, but I am not holding my breath cos of the unpredictability. |
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Shermo
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October 22, 2013, 08:24:47 PM |
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Best bet is to just sit tight and hold, if you have cash sat in a savings account earning 0.5% interest per year then I think its worth a punt putting some into BTC. Whilst it has ups and downs the overall trend has been up, sure it might drop as soon as you buy, but 6 months later you may be up 25% and that's better than anything else at the moment.
My girlfriend was in a similar situation to you, she put £1000 into bitcoins near the last peak and then they plummeted, she recently made her money back with a little profit so still worked out better than leaving it in a regular savings account even if it did look bleak at first.
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MAbtc
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October 22, 2013, 08:53:55 PM |
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I bought thinking they would keep going up but woops!
This is why I am bothered by the "it's always a good time to buy bitcoin" attitude around here. It takes a long term perspective that new investors simply don't have, by and large. |
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Primrose (OP)
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Activity: 75
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October 22, 2013, 11:14:22 PM |
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I bought thinking they would keep going up but woops!
This is why I am bothered by the "it's always a good time to buy bitcoin" attitude around here. It takes a long term perspective that new investors simply don't have, by and large. Win on the swings but lose on the roundabouts. |
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knight22
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Activity: 1372
Merit: 1000
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October 22, 2013, 11:53:23 PM |
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I bought thinking they would keep going up but woops!
This is why I am bothered by the "it's always a good time to buy bitcoin" attitude around here. It takes a long term perspective that new investors simply don't have, by and large. Why do you assume that new investors don't have a long term perspective? |
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