Let us take a moment to laugh at the BTC day traders.

[piramida]

I rarely get really pessimistic about btc's long term prospect, but the thought that a substantial portion of investors and (judging by the name of our forum) speculators have a kindergarten-level understanding of markets and market participants scares me.

You should be happy not scared; if not for them, we would not get this nice wide swings. So I welcome everyone's desire to figure out how the world works the hard way, by own experience. If we only got professional market participants here, bitcoin would just be a boring stable slowly deflating currency, not the mad rollercoaster which throws money at anybody with half a brain as it is now.

[7Priest7]

This is funny stuff.
These day traders claim they are locking in their profits.
If you are day trading in U.S. dollars you are a fool.
Anybody who knows the U.S. financial situation,
knows our debt is a hill that keeps getting steeper,
eventually the U.S. will no longer be able to climb the hill of debt.

I don't envy the day traders with lots of U.S. dollars,
BTC day traders and stock market players, victims of the great depression 2.0.

[DGD4Life]

I don't get the hate for day traders. It's not like they're selling crack in a tower block to kids.

I'd do it myself if I had enough Bitcoins and the time to watch the markets. If anything, I'm jealous of the ones who make money day trading... not resentful.

Fair play to them. It's the only guaranteed way to make money out of Bitcoin. Holding, which I'm doing, is certainly no guarantee of some big pay off at the end of this rollercoaster we're all on.

I don't really understand the aggressive nature of this thread 

[ElectricMucus]

You "investors" laughing at us day-traders is like a marathon runner laughing at a sprinter or a Motor-rally driver laughing at a F1 driver.

[NorbyTheGeek]

I am a buy-and-hold guy.  At least with Bitcoin.  I don't have the knowledge or experience to day-trade, and probably don't have the nerves for it either.  And I have a day job.  But I don't have any problem with day traders in general.

I do have problems with the day traders who like to post as though they are THE experts in timing the Bitcoin market, and then gloat when they make a successful day.

Of course, I also have problems with people who make threads like this one.

[aazssx]

If you feel one my posts was helpful/insightful/useful/enlightening, consider donating whatever you feel the post was worth to 1ALS16NhCh8szSYoQzrWxGyeEHovP8YF8E
Thanks

Your posts gave me cancer, I'm donating -5BTC.

[BitchicksHusband]

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.

<slow clap>

[BitchicksHusband]

Let us take a moment to laugh at people who make good money on the BTC market in a way that permaholders find scary and confusing.

I buy and hold and I advise clueless noobs to do the same.  But hey, if someone can make good money daytrading the swings, more power to you.  I would never make a thread just to troll people like that.  Good for them.

[BitchicksHusband]

You "investors" laughing at us day-traders is like a marathon runner laughing at a sprinter or a Motor-rally driver laughing at a F1 driver.

It probably has to do with all the posts calling buy-and-holders idiots while regaling us with tales of their perfect 20-20 hindsight...

[MJGrae]

I mean... I'll just take my 1,000% return over the same time that buy and hold has only returned a whopping -10% and sit over somewhere else. You go ahead and enjoy your thread.

Edit: for full disclosure there was a point where I was -25% and also one where I was +1,500%, so Im not pretending to have timed every trade perfectly.

Unlike passive investors, volatility in both directions is my favorite thing.

[MatTheCat]

I don't get the day-trader hate.

Should they not be allowed to buy and sell Bitcoin at any rate they choose?

No because, early adopters who bought at sub $50 want to sit on their fkn arses and become millionaires on the back of a vast swathe of clueless masses who pour their money into Bitcoin at any price (as the Bitcoin nutters always advise). They therefore despise us Johnny come lately 'traders', who buy in at $1100, but look at charts and decide the wind has changed direction, then sell at loss in order to buy back in at much much lower prices.

@ 7priest7

Now that we have had another correction, and now that bounce has fallen clearly short of $980 target which would be required to make it 'not just a bounce', are you still laughing at us 'daytraders'.

And by the way, if you want to get all moral high horse, I was amongst the relative few actually using Bitcoin for real world economic transactions back in the day, providing Bitcoin with the spine that it needed so that fat idiotic parasite luckers like you, could by sheer coincidence make that small investment that has turned into a small fortune, without you having to lift a damn finger (or use a damn braincell)

[7Priest7]

And by the way, if you want to get all moral high horse, I was amongst the relative few actually using Bitcoin for real world economic transactions back in the day, providing Bitcoin with the spine that it needed so that fat idiotic parasite luckers like you, could by sheer coincidence make that small investment that has turned into a small fortune, without you having to lift a damn finger (or use a damn braincell)

Calm down, You have been ignored and reported.
Please attempt to expand your vocabulary beyond insults.
Try to articulate your ideas/criticisms as opposed to making insults not based off of reality.

[kireinaha]

And by the way, if you want to get all moral high horse, I was amongst the relative few actually using Bitcoin for real world economic transactions back in the day, providing Bitcoin with the spine that it needed so that fat idiotic parasite luckers like you, could by sheer coincidence make that small investment that has turned into a small fortune, without you having to lift a damn finger (or use a damn braincell)

Calm down, You have been ignored and reported.
Please attempt to expand your vocabulary beyond insults.
Try to articulate your ideas/criticisms as opposed to making insults not based off of reality.

lmao... didn't you start this thread with the intent of mocking day traders? That's not insulting?

Come on, if you're willing to dish it out you've got to be prepared to handle the blow back.

[ElectricMucus]

You "investors" laughing at us day-traders is like a marathon runner laughing at a sprinter or a Motor-rally driver laughing at a F1 driver.

It probably has to do with all the posts calling buy-and-holders idiots while regaling us with tales of their perfect 20-20 hindsight...

I wonder if marathon runners are that hostile.

[MAbtc]

This is funny stuff.
These day traders claim they are locking in their profits.
If you are day trading in U.S. dollars you are a fool.
Anybody who knows the U.S. financial situation,
knows our debt is a hill that keeps getting steeper,
eventually the U.S. will no longer be able to climb the hill of debt.

I don't envy the day traders with lots of U.S. dollars,
BTC day traders and stock market players, victims of the great depression 2.0.

Thanks, Ron Paul. My bills are payable in USD, thank you.

[MAbtc]

I could never be in the position I am without day trading. Not even close. Granted, day trading alt coins has been most profitable for me, but BTC/USD has been good to me as well. I'm sure I have gotten some great luck, too.

This is as someone who entered the market in April with almost nothing to put in -- paycheck to paycheck stylee. If I bought and held back then, I'd have >28x less value in my portfolio.

(Though I was around in 2012 for poker, but did not speculate, and never opted to hold more BTC than my bankroll required -- too fucking bad!)

[bootlace]

And by the way, if you want to get all moral high horse, I was amongst the relative few actually using Bitcoin for real world economic transactions back in the day, providing Bitcoin with the spine that it needed so that fat idiotic parasite luckers like you, could by sheer coincidence make that small investment that has turned into a small fortune, without you having to lift a damn finger (or use a damn braincell)

Calm down, You have been ignored and reported.
Please attempt to expand your vocabulary beyond insults.
Try to articulate your ideas/criticisms as opposed to making insults not based off of reality.

What a little crybaby you are. Making an absolutely useless thread full of drivel on the speculation forums that attacks a segment of speculators for no good reason and then having the audacity to whine about being insulted without base.

[vanchau]

The BTC game

How you play:  You're given 100 BTC and that's all you will ever be given

The goal: Have the most BTC possible at the end of a year

GO!

Some people would to invest in a "buy and hold" strategy.  Some would to buy and sell on trends trying to
increase their holdings.  Some would do this daily.  Some would do this daily with 4 to 1 leverage.  Some would do a little of everything.

We're all kind of playing this game now.  I'm glad to have a chance to play this game and glad to have options.  To me, the optimal strategy,
would to have all these abilities and be able to implement the right one at the right time.  I don't understand why someone would insult
someone else's strategy.  Instead I'd prefer to watch, listen and maybe even learn about it if I saw it was working for them.  

My girlfriend and I play Roulette at the casino and we write down the numbers and look at the patterns, always trying to find some trend.  Sometimes
we do and sometimes we don't.  It's fun and we know its just random.  But with bitcoin, it's not random.   There might be trends that you can pick up
on.  Real world events can have an affect on the price (maybe) and you can take advantage of that.  When China announced the ban on bitcoins for
Chinese companies, bitcoin prices dropped significantly soon after.  Was this causation or coincidence?  I think knowing the answer to that you can
definitely have an advantage.  It's interesting enough and definitely lucrative enough to investigate no?

Cheers!

[seleme]

[bitrebel]

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.

Let's ridicule me for a moment.
I had 10 bitcoins I sold for $9200 when they were at $920 each.
Bitcoin dropped to $650 and I bought 14 bitcoins back and had some spare change.
Now those bitcoins are back up to $850 each, netting me approx. $11,900 - That's $2700 profit, correct? If it goes back up to $950, which it was at recently, that would mean a $4100 profit, right?

Poor lil' 'ol me. I'm such a fool.