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7Priest7 (OP)
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December 11, 2013, 01:27:37 AM
Last edit: March 07, 2014, 11:07:26 PM by 7Priest7 |
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To recap recent events,
A few news stories brought attention to BTC,
The BTC price skyrocketed a few times to ~$1200USD,
The day traders thought BTC was stock and sold in panic.
No surprise to the BTC enthusiasts the price has rebounded to above $1,000USD per BTC.
Let us all take a moment to laugh out loud at these day traders.
BTC is not the stock market.
I suspect quite a few of these low intelligence day traders pulled out at or below the cost they paid to get in.
If you were one of the fool day traders who sold your BTC for less than what you paid,
please post here so we can publicly ridicule you.
EDIT: Let the laughter grow louder as the day traders get their funds/btc stuck on Mt.Gox!!!!!! ROFLAMO!!!!!!!
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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BittBurger
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December 11, 2013, 01:30:27 AM |
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Agreed. Stop trying to play the system with your weird charts, super cool phrases, hip and trendy prediction skills ...
In the end, the only winners will be those who bought and held long term.
I have yet to hear from a single person who tried playing the system and has come out on top.
Though im sure some exist.
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malaimult
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December 11, 2013, 01:30:41 AM |
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"If you were one of the fool day traders who sold your BTC for less than what you paid, please post here so we can publicly ridicule you." how can you do that, when most of us bought @ 200  |
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Mike Christ
aka snapsunny
Legendary
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Activity: 1078
Merit: 1003
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December 11, 2013, 01:31:40 AM |
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I'm curious about this profession; what does day trading provide to society?
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kaito
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December 11, 2013, 01:37:32 AM |
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I'm curious about this profession; what does day trading provide to society?
Market liquidity. Or so it is said... somehow I doubt your sincerity. |
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takagari
Legendary
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Activity: 1050
Merit: 1000
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December 11, 2013, 01:38:41 AM |
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A Day trader wouldn't of sold it all off... if they sold at $1200 they bought it all back at 700... that's what day trading is, multiple trade's back and fourth in a day to make money off the coins...
Anyone who bought a bunch at $1200 and than sold it off at $700 in a panic is NOT a day trader, they would be a clueless noob..
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7Priest7 (OP)
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December 11, 2013, 01:46:37 AM |
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I'm curious about this profession; what does day trading provide to society?
Nothing, Day traders exist for their own greed, nothing more. They waste oxygen. Anyone who bought a bunch at $1200 and than sold it off at $700 in a panic is NOT a day trader, they would be a clueless noob..
So, The vast majority of the human population? Based off my experiences with people in general, The vast majority are self-centered, poorly educated, and weak(spiritually, emotionally, and physically). |
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Minor Miner
Legendary
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Activity: 2282
Merit: 1012
Be A Digital Miner
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December 11, 2013, 01:48:04 AM |
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I'm curious about this profession; what does day trading provide to society?
It keeps undesirable people glued to a computer so they are not out in the real world ripping people off. |
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takagari
Legendary
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Activity: 1050
Merit: 1000
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December 11, 2013, 01:49:31 AM |
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I'm curious about this profession; what does day trading provide to society?
Nothing, Day traders exist for their own greed, nothing more. They waste oxygen. Anyone who bought a bunch at $1200 and than sold it off at $700 in a panic is NOT a day trader, they would be a clueless noob..
So, The vast majority of the human population? Based off my experiences with people in general, The vast majority are self-centered, poorly educated, and serve only their own interests. Yes, and the Vast majority of the human population wouldnt be Day Traders lol. Day trading take's commitment to do it. I'd bet some of those guys make a damn good living off of it. Imagine buying a bunch today at ever 800 open, and than selling them all off now at $1000. If you had done this with a coin. you'd make $200. Some of these guys do that with 100 coins. That's 20 grand profit in a day. That's a day trader  |
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7Priest7 (OP)
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December 11, 2013, 01:55:23 AM |
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Yes, and the Vast majority of the human population wouldnt be Day Traders lol. Day trading take's commitment to do it. I'd bet some of those guys make a damn good living off of it. Imagine buying a bunch today at ever 800 open, and than selling them all off now at $1000. If you had done this with a coin. you'd make $200. Some of these guys do that with 100 coins. That's 20 grand profit in a day. That's a day trader I was referring to the "follow the pack" day traders who have not been doing it forever. Those who just recently tried and failed to profit off BTC, they got scared when it went from $1200 and started dropping, They sold for less to avoid a complete loss. Perhaps some Day Traders do well, but day trading is just like gambling, they could just as easily lose money. |
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Inedible
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December 11, 2013, 02:07:07 AM |
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I don't get the day-trader hate.
Should they not be allowed to buy and sell Bitcoin at any rate they choose?
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If this post was useful, interesting or entertaining, then you've misunderstood.
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kireinaha
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December 11, 2013, 02:07:27 AM |
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Yes, and the Vast majority of the human population wouldnt be Day Traders lol. Day trading take's commitment to do it. I'd bet some of those guys make a damn good living off of it. Imagine buying a bunch today at ever 800 open, and than selling them all off now at $1000. If you had done this with a coin. you'd make $200. Some of these guys do that with 100 coins. That's 20 grand profit in a day. That's a day trader I was referring to the "follow the pack" day traders who have not been doing it forever. Those who just recently tried and failed to profit off BTC, they got scared when it went from $1200 and started dropping, They sold for less to avoid a complete loss. Perhaps some Day Traders do well, but day trading is just like gambling, they could just as easily lose money. Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money. |
Night gathers, and now my bitcoinwisdom watch begins.
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7Priest7 (OP)
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December 11, 2013, 02:08:57 AM |
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I don't get the day-trader hate.
Should they not be allowed to buy and sell Bitcoin at any rate they choose?
They buy and sell BTC to just buy and sell BTC. They simply detract from the goal of BTC to be a currency. They don't contribute to BTC in general. |
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Minor Miner
Legendary
Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
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December 11, 2013, 02:09:05 AM |
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I don't get the day-trader hate.
Should they not be allowed to buy and sell Bitcoin at any rate they choose?
yes, they should be allowed to lose their money on any zero sum game in the world just like we should feel free to criticize their absurd behavior. Never met one that didn't just "bank" it all the time..... |
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7Priest7 (OP)
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December 11, 2013, 02:11:02 AM |
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Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money.
Not true, I have mined/earned all my BTC. I lose nothing if BTC plummets. I use the electricity that comes free with my rent. I hope BTC flourishes into a useable currency, but if it doesn't I will not lose anything. |
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kireinaha
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December 11, 2013, 02:12:32 AM |
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I don't get the day-trader hate.
Should they not be allowed to buy and sell Bitcoin at any rate they choose?
I don't really get it either. I guess they view "day traders" as part of the status quo financial elite, whereas the bitcoin true believers are sophisticated gentlemen who look down on the stock market and the dirty fiat that backs it. Something like that. Despite the fact that everyone is basically doing the same thing. |
Night gathers, and now my bitcoinwisdom watch begins.
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JimboToronto
Legendary
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Activity: 4004
Merit: 4482
You're never too old to think young.
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December 11, 2013, 02:12:39 AM |
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It's easy to laugh at "Leet TrayDURRz", but it's especially easy to laugh at the bears, because they take themselves so seriously and are so insufferably annoying.
Some even go so far as to shame themselves by putting pictures of bears in their avatars. It seems strange that in a forum dealing with an inherently bullish protocol like Bitcoin, avatars with bears outnumber avatars with bulls by a good margin.
Have they no shame?
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kireinaha
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December 11, 2013, 02:15:15 AM |
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Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money.
Not true, I have mined/earned all my BTC. I lose nothing if BTC plummets. I use the electricity that comes free with my rent. I hope BTC flourishes into a useable currency, but if it doesn't I will not lose anything. There's something to be said of the opportunity cost. I'm not saying this will necessarily happen, but it's definitely a possibility and anyone who holds and holds without ever selling would in essence "lose" money in such a case. Not criticizing your strategy, but just saying it could happen and we're all essentially gambling on the future of bitcoin. |
Night gathers, and now my bitcoinwisdom watch begins.
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7Priest7 (OP)
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December 11, 2013, 02:17:56 AM |
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There's something to be said of the opportunity cost. I'm not saying this will necessarily happen, but it's definitely a possibility and anyone who holds and holds without ever selling would in essence "lose" money in such a case. Not criticizing your strategy, but just saying it could happen and we're all essentially gambling on the future of bitcoin.
You're depressing, be positive!  There is a reverse, Those who sell out before BTC reaches the height of it's maturity will not see the full fruit of their labor, due to their fear/greed. |
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EvilPanda
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December 11, 2013, 02:28:55 AM |
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It's easy to laugh at "Leet TrayDURRz", but it's especially easy to laugh at the bears, because they take themselves so seriously and are so insufferably annoying.
Some even go so far as to shame themselves by putting pictures of bears in their avatars. It seems strange that in a forum dealing with an inherently bullish protocol like Bitcoin, avatars with bears outnumber avatars with bulls by a good margin.
Have they no shame?
Technically the one I have used to be classified as a bear. About that BTC contribution, some of us have to convert to fiat from time to time. It's not like I can go to a shop and ask for qr. |
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