Bitcoin Forum
November 24, 2017, 11:50:29 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Accumulating coins  (Read 2689 times)
Joe200
Sr. Member
****
Offline Offline

Activity: 293



View Profile
November 22, 2013, 02:40:45 PM
 #1

What is your strategy for accumulating coins?
1511524229
Hero Member
*
Offline Offline

Posts: 1511524229

View Profile Personal Message (Offline)

Ignore
1511524229
Reply with quote  #2

1511524229
Report to moderator
Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511524229
Hero Member
*
Offline Offline

Posts: 1511524229

View Profile Personal Message (Offline)

Ignore
1511524229
Reply with quote  #2

1511524229
Report to moderator
Sitarow
Legendary
*
Offline Offline

Activity: 1680



View Profile
November 22, 2013, 02:42:37 PM
 #2

What is your strategy for accumulating coins?


Buy low and mine.
MicroGuy
Legendary
*
Online Online

Activity: 1652


www.MicroGuy.com


View Profile WWW
November 22, 2013, 02:43:41 PM
 #3

What is your strategy for accumulating coins?


Find the best altcoins with the biggest upside potential then 1.) slowly average in, 2.) support the community, 3.) work to help the coin. Last night Max Keiser mentioned Litecoin on his show. In a month or two he might discover something even better.

References:
http://rt.com/shows/keiser-report/episode-526-max-keiser-025/
http://coinmarketcap.com/

"The Internet unshackled information, Satoshi Nakamoto unshackled money. And money makes the world go round."
MGUK
Member
**
Offline Offline

Activity: 83


View Profile
November 22, 2013, 02:44:57 PM
 #4

I use my belly button fluff to lure out fairies . I then capture them, liquidise them, and sell the resultant green product as a dish washing agent. I then use the fiat profits to buy cryptocurrencies - but that's how everyone does it, right?
Joe200
Sr. Member
****
Offline Offline

Activity: 293



View Profile
November 22, 2013, 02:46:46 PM
 #5

Buy low and mine.

Alright. To buy low, you need fiat. So you try to sell high to get fiat, then wait for the price to drop, then buy coins? Or you always keep fiat on hand? Which is it? Details please. Smiley
Pruden
Hero Member
*****
Offline Offline

Activity: 487

Spanish Bitcoin trader


View Profile
November 22, 2013, 02:48:01 PM
 #6

You don't gamble the way to bitcoin wealth by picking altcoins. That is like picking shares in the stock market. Good luck with that (which you will not have).

Spend as little as you can (blogs like mrmoneymoustache.com help to achieve independence from consumerism), buy Bitcoins with a share of what you have left (being young, I invest everything into Bitcoins, but I am not recommending it to anyone). This way you are dollar-cost-averaging with a monthly period (assuming monthly paycheck).

You might want to space the buys weekly or something like that.
Shak
Full Member
***
Offline Offline

Activity: 134


View Profile
November 22, 2013, 02:48:21 PM
 #7

no, you get fiat by whatever means and buy bitcoins

selling "high" and buying "low" is just a lottery in this extremely volatile market.
Joe200
Sr. Member
****
Offline Offline

Activity: 293



View Profile
November 22, 2013, 02:49:30 PM
 #8

Find the best altcoins with the biggest upside potential then 1.) slowly average in, 2.) support the community, 3.) work to help the coin. Last night Max Keiser mentioned Litecoin on his show. In a month or two he might discover something even better.

So instead of selling bitcoins for fiat you sell them for altcoins? And then wait for the price of altcoins in bitcoins to increase? That sounds like an idea...

Details please.
Joe200
Sr. Member
****
Offline Offline

Activity: 293



View Profile
November 22, 2013, 02:52:48 PM
 #9

Spend as little as you can (blogs like mrmoneymoustache.com help to achieve independence from consumerism), buy Bitcoins with a share of what you have left (being young, I invest everything into Bitcoins, but I am not recommending it to anyone). This way you are dollar-cost-averaging with a monthly period (assuming monthly paycheck).

You might want to space the buys weekly or something like that.

That's a good general recommendation. The "problem" with it is that, as the price of coins goes up, and your fiat salary stays constant, the amount you are adding every month diminishes. Once coins are $10,000 each, you won't even have enough savings to add a coin every month.
Pruden
Hero Member
*****
Offline Offline

Activity: 487

Spanish Bitcoin trader


View Profile
November 22, 2013, 02:55:29 PM
 #10

Picking altcoins vs buying bitcoins is like picking shares vs Stock Indexes. In the long run, you are better off by buying a Stock Index Fund. It has the same long-term profitability but you save the time of studying the market to choose your investment.

The Stock Index of Altcoins, you guessed it, is Bitcoin.

Quote
The "problem" with it is that, as the price of coins goes up

As you seem to imply, that is hardly a problem. Soon 1 BTC will be a great amount of wealth, people will have to get used to owning less than a hundred million satoshis (when is the decimal point moving, by the way? It is long overdue).
NUFCrichard
Legendary
*
Offline Offline

Activity: 1134


★Nitrogensports.eu★


View Profile
November 22, 2013, 02:57:13 PM
 #11

All you can do it buy when you think the price is good, there are no shortcuts, mining is just as expensive as the difficulty makes your miner worthless in about 17 seconds.


           █████████████████     ████████
          █████████████████     ████████
         █████████████████     ████████
        █████████████████     ████████
       ████████              ████████
      ████████              ████████
     ████████     ███████  ████████     ████████
    ████████     █████████████████     ████████
   ████████     █████████████████     ████████
  ████████     █████████████████     ████████
 ████████     █████████████████     ████████
████████     ████████  ███████     ████████
            ████████              ████████
           ████████              ████████
          ████████     █████████████████
         ████████     █████████████████
        ████████     █████████████████
       ████████     █████████████████
▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
▬▬ THE LARGEST & MOST TRUSTED ▬▬
      BITCOIN SPORTSBOOK     
   ▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
             ▄▄▄▄▀▀▀▀▄
     ▄▄▄▄▀▀▀▀        ▀▄▄▄▄          
▄▀▀▀▀                 █   ▀▀▀▀▀▀▀▄▄
█                    ▀▄          █
 █   ▀▌     ██▄        █          █              
 ▀▄        ▐████▄       █        █
  █        ███████▄     ▀▄       █
   █      ▐████▄█████████████████████▄
   ▀▄     ███████▀                  ▀██
    █      ▀█████    ▄▄        ▄▄    ██
     █       ▀███   ████      ████   ██
     ▀▄        ██    ▀▀        ▀▀    ██
      █        ██        ▄██▄        ██
       █       ██        ▀██▀        ██
       ▀▄      ██    ▄▄        ▄▄    ██
        █      ██   ████      ████   ██
         █▄▄▄▄▀██    ▀▀        ▀▀    ██
               ██▄                  ▄██
                ▀████████████████████▀




  CASINO  ●  DICE  ●  POKER  
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
   24 hour Customer Support   

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
SlipperySlope
Hero Member
*****
Offline Offline

Activity: 686

Stephen Reed


View Profile
November 22, 2013, 03:39:14 PM
 #12

Interesting that 2013 is probably the last year in which speculators will typically buy whole coins.

As new funds become available to me, I try to buy fractions anytime there is not a bubble underway. Bubbles are easy to see and widely predicted here. I do not buy in the week leading up to the bubble peak, rather I wait until the bubble crashes to ensure that my purchases are made at a better valuation.

For example, I bought fractions from 300 to 488 using Coinbase earlier this month, then waited for the bubble to peak, then bought more from 511 to 622. If prices fall below 675 I plan to buy more, otherwise I will wait a bit.
chalidore
Sr. Member
****
Offline Offline

Activity: 250



View Profile
November 22, 2013, 04:50:34 PM
 #13

cex.io is good for mining and day trading. The price dipped a bit yesterday, so it may be a good time to get in. Just make sure to get out while you are ahead so that the coins you make mining are worth more than the diminishing value of the mining shares.
Nemesis
Sr. Member
****
Offline Offline

Activity: 462


View Profile
November 22, 2013, 04:53:26 PM
 #14

OP, if someone has an answer to your question, do you think they would share? Really?  Roll Eyes


Welcome to La La Land,
Boxman90
Hero Member
*****
Offline Offline

Activity: 518


View Profile
November 22, 2013, 05:00:36 PM
 #15

After day-trading for a few months to make an amount of USD i'm decently happy with, I'm now day-trading and leaving all my profits in BTC.

It's just one of the strategies.

LTC: LKKy4eDWyVtSrQAJy7Qmmz61RaFY91D9yC   BTC: 18fzdnCkuUNthCD8hM36UBGopFa9ij78gG
vokain
Legendary
*
Offline Offline

Activity: 1736


View Profile
November 22, 2013, 05:04:35 PM
 #16

loans

         ▄█▄  ▄▄▄▄
          ▀ ▄██████▄
    ▄▄▄   ▄███▀▀███
  ▄█████▄ ▀█▀ ███▄ ▀▀
 ███▀  ▀██▄    ████▄   
 █▀ ▄██▄ ▀█▀ ▄██▀ ▀█▀ ▄██
  ▄██▀     ▄██▀     ▄██▀
 ██▀ ▄█▄ ▄██▀ ▄█▄  ██▀ ▄▄
      ▀███▀    ▀██▄  ▄██▀
     ▄▄ ▀██▄ ▄█▄ ▀█████▀
     ███▄▄██▀   ▀▀
      ▀██████▀
        ▀▀▀▀   ██▀

  █
  █
  █
████
  █
████
  █
████
  █
  █
  █


▄███▄    ▄███▄
███  ██▄ █▀▀▄
████████  ███▀
██▀ ▄███       
████████▄▄  ▄█▀
 ██████▀▀██▀▀
  ▀███▀▄▄   ▄
   ▀██▄██ ▄█▀
     ▀▀██▀▀
FULLY
ANONYMOUS

━━━━━
/

    ██▄▄              ▄▄██
   █▀  ▀█▄ ▄▄▄▄████▄██▀  ▀█
  █▀   ▄███▀▀▀       █▄   ▀█
 █▀   ▄███▄ ▄▄█▄▄     █▄   ▀█
██▄  ▄████████████▄▄  █▄  ▄██
  ▀▀██▀███████████████▄███▀▀
      ▀█▄█▀███████████▀▀
        ▀███▀███████▀
           ▀▀▀▀██▀▀
INSTANT
TRANSFER

━━━━
/

     ▄████▄
 ▄▄▄████████▄▄▄
▄██████████████▄
▀██▀ ▀█  ▀█ ███▀
 ██ ▀ █ ▀▄█ ███
▄██▄█▄█▄███▄███▄
▀██████████████▀
 ▀▀▀████████▀▀▀
     ▀████▀
API FOR YOUR
PROJECTS

━━━━

  █
  █
  █
████
  █
████
  █
████
  █
  █
  █
PARTNER PROGRAM
TOR MIRROR
MIX WALLET
.FAQ
ANN THREAD
TELEGRAM
vendetahome
Hero Member
*****
Offline Offline

Activity: 658


View Profile
November 22, 2013, 06:49:13 PM
 #17

Best way to accumulate is buy. I miss the days of GPU mining, I would make small GPU farm even in early 2012
crazy_rabbit
Legendary
*
Offline Offline

Activity: 1176


RUM AND CARROTS: A PIRATE LIFE FOR ME


View Profile
November 22, 2013, 06:51:00 PM
 #18

What is your strategy for accumulating coins?


BUY. Day trading will only do the opposite.

more or less retired.
Mirsad
Full Member
***
Offline Offline

Activity: 140

Bitcoin - love & hate


View Profile
November 22, 2013, 06:58:22 PM
 #19

loans

Best way. And then use the BTC go gamble -> max profit.

< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
Qoheleth
Legendary
*
Offline Offline

Activity: 927


Spurn wild goose chases. Seek that which endures.


View Profile WWW
November 22, 2013, 07:00:05 PM
 #20

That's a good general recommendation. The "problem" with it is that, as the price of coins goes up, and your fiat salary stays constant, the amount you are adding every month diminishes. Once coins are $10,000 each, you won't even have enough savings to add a coin every month.
So? If and when we get to $10/minicoin, "adding a coin every month" is an unreasonable expectation anyway, because everyone will be thinking in minicoins (or mBTC or whatever term catches on). And in any case, how do you know the price of coins will increase monatonically? This is a super-volatile market, and we're still taking bubble baths; the point of buying in slowly is that that way you don't worry too much about what the price is at any given buy-in timestamp, because if it's unusually high it'll be averaged out by the times you accidentally bought low.

(when is the decimal point moving, by the way? It is long overdue).
Just start talking in terms of minicoins/mBTC/whatever synonym you prefer. Sooner or later people will pick up the habit.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!