Bitcoin is looking weak. Recommend you guys take profits soon over $1000.

[Cyberdyne]

a $1000 bitcoin is just not sustainable

This part I agree with. We simply will not be able to sustain such a low price indefinitely.

[1714809440]

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[almonds99]

this thread all of a sudden has a little more relevance.

[MatTheCat]

!!!SMACK DOWN!!!

I have now entered at top of market and done quite well, although am losing now and selling at lower prices than I paid to limit damage.

Oh man I considered you to be smarter than that. You just never sell bitcoin cheaper than you bought it, because every dip is a temporary retrace. Your panic mode for bitcoin should mean "stop buying" and then when you think it stopped falling you start buying again. Any other way - and you are just robbing yourself. Can't stop you, of course, but sad to see.

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

[NorbyTheGeek]

I have now entered at top of market and done quite well, although am losing now and selling at lower prices than I paid to limit damage.

Oh man I considered you to be smarter than that. You just never sell bitcoin cheaper than you bought it, because every dip is a temporary retrace. Your panic mode for bitcoin should mean "stop buying" and then when you think it stopped falling you start buying again. Any other way - and you are just robbing yourself. Can't stop you, of course, but sad to see.

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

I think what he is saying is instead of buying at $1000, selling at $900, then rebuying at $800, you are better off to continue to hold those $1000 coins, and still buy at $800.  That way, when the price returns to $1000+ you are more ahead than if you sold for a loss.

[GigaCoin]

If we break $850 on Gox today (that seemed to be the floor in the past couple of days), we may see a nose dive to $600 level.

Scary day nonetheless, strap your seat belts!

[MatTheCat]

If we break $850 on Gox today (that seemed to be the floor in the past couple of days), we may see a nose dive to $600 level.

Scary day nonetheless, strap your seat belts!

Exactly what I had in mind, in the midst of all this sound advice telling me that I shouldn't sell $1100 coins for $1000, when the price looks certain to be going south of $800!

Great bunch of guys on this forum.....

[HappyBitCoinUser]

Too late, we're already below $1000 $900.

[Hfertig]

last chance to take profits above USD 900... 

[piramida]

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

It's your money and your way to lose them We'll talk again once you buy at 1300.

[Hfertig]

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

It's your money and your way to lose them We'll talk again once you buy at 1300.

Why should he buy at 1300 ? he will be able to buy around USD 600 soon...

[SuperHakka]

look at the 1 day chart talkjing about DOUBLE TOP, look out down below!!!

[elebit]

Gow low hit 916 this time. Do you think we'll see more attempts to break 900 this weekend?

[Tirapon]

I have now entered at top of market and done quite well, although am losing now and selling at lower prices than I paid to limit damage.

Oh man I considered you to be smarter than that. You just never sell bitcoin cheaper than you bought it, because every dip is a temporary retrace. Your panic mode for bitcoin should mean "stop buying" and then when you think it stopped falling you start buying again. Any other way - and you are just robbing yourself. Can't stop you, of course, but sad to see.

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

I think what he is saying is instead of buying at $1000, selling at $900, then rebuying at $800, you are better off to continue to hold those $1000 coins, and still buy at $800.  That way, when the price returns to $1000+ you are more ahead than if you sold for a loss.

NorbyTheGreek gets it.

EDIT: Note that if you successfully sell at $900 and rebuy at $800, you would be better off than just holding what you bought at $1000 and buying more at $800. The reason for not selling at $900 is to hedge against the possibility that price doesn't make it to $800, and instead goes back up to over $1000. Buying back after this leads to a loss.

[Tirapon]

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

It's your money and your way to lose them We'll talk again once you buy at 1300.

Why should he buy at 1300 ? he will be able to buy around USD 600 soon...

Maybe or maybe not. I would say yes, on this occasion, there is a good chance of going that low. But the only predictable thing about short term swings is that they are mostly unpredictable. Very easy to lose money trying to pick tops and bottoms. Instead, figure out your long term projection of price, and then devise your strategy to eliminate the risk of short term volatility.

Buy and hold is the simplest way to do this.

@MatTheCat: I hope we do go below $800, and you get to buy your cheap coins. Out of interest, if we recover from here, and go above $1000 again, do you have a price at which you will buy back in, if it continues to climb?

[bitcoin carpenter]

I'm gonna get more money to cavirtex this week in preparation...
I'm actually hoping for a 2 to 3 month consolidation before the bubble that makes bitcoins a viable worldwide barter ledger

[MatTheCat]

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

It's your money and your way to lose them We'll talk again once you buy at 1300.

LOL.
 
Can I ask a question?

How silly are you feeling right now?

Here sir, is downwards bidding plan:

OPEN ORDERS
Order type   Date and time   BTC amount   Bitcoin price      
Buy   Dec. 6, 2013, 1:48 a.m.   5.00000000   $720.00   $3,600.00   
Buy   Dec. 6, 2013, 8:19 a.m.   2.80000000   $680.00   $1,904.00   
Buy   Dec. 6, 2013, 4:57 p.m.   3.00000000   $640.00   $1,920.00   
Buy   Dec. 6, 2013, 7:01 p.m.   5.00000000   $620.00   $3,100.00   

Bitstamp prices.

Now, I just hope that the CRASH isn't so brutal that I am the one who is left feeling very silly.

[GigaCoin]

I'm gonna get more money to cavirtex this week in preparation...
I'm actually hoping for a 2 to 3 month consolidation before the bubble that makes bitcoins a viable worldwide barter ledger

Good plan, get that fiat ready. There will be good buys within the next week.

[beaconpcguru]

GoxLooping™

[MatTheCat]

@MatTheCat: I hope we do go below $800, and you get to buy your cheap coins. Out of interest, if we recover from here, and go above $1000 again, do you have a price at which you will buy back in, if it continues to climb?

My first buy in is set at around......$720 I think.....then I stage it all the way down to $600 to the tune of 10k

Even with this, I feel I am taking a risk. If however it doesn't get as far down as my buy in plan, then I start buying back in when I see some kind of stability emerge out of all this at whatever price that comes at, but come it will.

[ajax3592]

Have to commend OP on the fact that he actually predicted the market is going down, few hours below it actually happened.