Losing all hope

[addictivegaming]

Look, I bought in at $10.80. When I saw it going up exactly a year ago, I decided to double my investment and buy more. It was in the high 13's. I wanted to wait until it dropped to $13.25 so that where I put my buy order in at. I think it dropped to $13.30 or so, so my buy never got filled. I waited, and it went to $14, then $15... finally a few days later, I panic bought at $17.25, worried that I would miss out.

Had I just bought at $13.30, I would have 80 more coins now.

Had I continued to wait till it dropped to the low 13's again, I'd still be waiting.

Lesson is, if you believe in bitcoin, buy NOW. Do NOT try to time the market or you will get screwed.

Excellent advice.

I think the idea here is to not lose out on a huge amount of growth in an effort to get the best possible deal. Sure, I would like to buy bitcoin at $500 instead of $850. However, if bitcoin goes to $10,000 by the end of 2014, buying in at $850 is a much better idea than sitting around hoping that bitcoin will dip sometime between then and now.

If you're bullish mid/longterm, just buy now and worry about the other stuff later.

[pjviitas]

There are 2 basic rules to be being a player in any market.

Incremental buys on the way down.

Incremental sells on the way up.

Sitting around and waiting for the right time is kind of like not jumping into a lake because you are afraid to get wet.

[isov]

I've read that traders use 5 to 10 years of historic data to test their indicators on. Bitcoin simply doesn't have enough historical data, and is a starting market, thus making any sound prediction of the future based on the past a hard call.

Didn't you know that in bitcoin world, one year is equivalent of 10+ years of regular markets? Look at volatility, we go through all the regular events 10 times faster. We already had three huge crashes after enormous 100-fold rallies, something that took wallstreet about 100 years. So I'd say there is enough history. And no, bitcoin never broke the previous ATH and I doubt it will do it now. The previous ones were $0.5 ATH, $1.1 ATH, $32 ATH, $266 ATH, now $1242 - once we are well past that mark, we won't see it again.

+1 Pretty much my view also.

And as some blabla to the OP, I am from Finland probably quite same as denmark but even worse climate, national hobby is having a liter of vodka and beating your wife and kids on weekends (not forgetting to throw them out in the snow) But thats only the stereotype if you want to see it that way, I like it in the summer time when there is a chance of maybe going outside in a t-shirt and sun just stays up and everything.
I only have a high school degree myself and estonians and polish people are coming to do most of the crap works with low pay so pretty much the same situation. But I thought it over, managed to land myself a job in the harbour (have also been changing tyres, scaffolding and some electricity stuff) so now I work the best weather 7-9 months and travel the rest somewhere where its warm. ATM Cambodia, 28,5C at 1:29AM.
I've had some downturns also, hurt myself at job, sporting etc. only my left hand is without a surgery or any metal in it. And I'm 24years old, have payments for my apartment at home and all the stuff people consider "normal". With BTC I was quite late, heard something about it in late 2011 but found it too difficult to buy and forgot about it until this october or so when I read of the norwegian guy buying an apartment with BTC. Started buying in but still have like only bit more than 5BTC, hopefully can accumulate more and let it be only choochoo for 2014.

So maybe I could be somekind of an example for you, you can if you want.

Peace.

Good for you.
You should really travel a a bit to see how other people live and why those immigrants come and do all the crap jobs. In Poland, Ukraine, Bulgaria and many other typical monthly wage is below $500. I used to work 12 hours a day for $2/h (!) and I have a master's degree, speak 3 languages and can do anything from repairing your car to setting up a LAN network. I know people who have PhD in science and work for $600/month. Before you start complaining about your hard and exhausting $20/h job come and visit us third worlders  

Not sure if this reply was for me or OP but yeah, I ensure you I know how crappy places and lives most of the people on this planet have. Here in cambodia for example average wage for month is something like 100-200$ and these people work 15-20hours a day. And theres no weekends or vacations. I am not complaining about my life or setup, I believe it pretty much is the best situation where i possibly could have gotten by this age. Ofcourse I could be making lots more money if I just had been in school for longer time, got myself a degree in something and so on but I never was interested in that. I want to live my life in this beautiful planet and see places and people I surely wouldnt see if I had to work my ass off with 40-50hours a week in an office to get that ~70k€ year. So now I make maybe 25-30k€ and enjoy my life for the rest of the time, Have to make do with shoestring budget when I'm in Finland for the summer but then when winter comes and it's time to go away again and my money has 5-10X buying power compared to Finland I can live like a king and spend 30-40$ a day.

[Camelop]

Bitcoin never will be 10.000 usd. Who would buy bitcoins for 10k a pop?

Right now the only reason 99% of the trades is because they want to make profit and turn back into fiat. Once that is over the bubble will pop and bitcoin will stay in the 100 dollar range forever. I rather have 10 million usd than 11000k bitcoins

Unless bitcoin has a steady price and is accepted everywhere like cash it will never be accepted by society.
You can do everything with cash but not so much with bitcoins. That is the sad truth

[Chaz]

Right now the only reason 99% of the trades is because they want to make profit and turn back into fiat.

Speak for yourself...

[addictivegaming]

Bitcoin never will be 10.000 usd. Who would buy bitcoins for 10k a pop?

Right now the only reason 99% of the trades is because they want to make profit and turn back into fiat. Once that is over the bubble will pop and bitcoin will stay in the 100 dollar range forever. I rather have 10 million usd than 11000k bitcoins

Unless bitcoin has a steady price and is accepted everywhere like cash it will never be accepted by society.
You can do everything with cash but not so much with bitcoins. That is the sad truth

Do you realize that if bitcoin is heavily adopted $10,000 for an entire bitcoin (it's pretty clear mBTC will be widely adopted by then) will likely be a memory of the distant past? If bitcoin really takes off, $100,000 for an entire bitcoin is a real possibility. Of course, that's if bitcoin really takes off.

[Buffer Overflow]

You can do everything with cash but not so much with bitcoins. That is the sad truth

You can't send cash across the globe in seconds. That's where Bitcoin steps in.

[Ibian]

Bitcoin never will be 10.000 usd. Who would buy bitcoins for 10k a pop?

http://bitbet.us/bet/635/1btc-10-000-usd/

Place your bets gentlemen, place your bets! Easy money on a sure thing, no way to lose, place your bets!

[piramida]

but oh, there will be a day when the growth stops and everyone who wants a bitcoin has one. and then the speculators will leave. they will exit the market in troves and the ones who stay will short and we will enter the first real bear market bitcoin will have ever seen, The Great Correction to its heretofore undisturbed infinite bullrun... but that likely won't happen yet for quite some time.

hint: the paradigm isn't "everybody gets rich". you speak like if you can't get returns on your bitcoin investment it's 'broken'.

No, I would consider bitcoin perfectly unbroken if it ever reaches mainstream adoption. I would not care if the price goes down or up then, will trade the swings, this would be a safe investment by then, I don't think there would be a need to exit. Time to exit would be if the price goes down *before* worldwide adoption.

[bitbrasil]

Bitcoin never will be 10.000 usd. Who would buy bitcoins for 10k a pop?

People don't have to buy by the pop, they will think if they buy 100US$ worth of bitcoins today, next year they can have 10,000US$

[EvilPanda]

I've read that traders use 5 to 10 years of historic data to test their indicators on. Bitcoin simply doesn't have enough historical data, and is a starting market, thus making any sound prediction of the future based on the past a hard call.

Didn't you know that in bitcoin world, one year is equivalent of 10+ years of regular markets? Look at volatility, we go through all the regular events 10 times faster. We already had three huge crashes after enormous 100-fold rallies, something that took wallstreet about 100 years. So I'd say there is enough history. And no, bitcoin never broke the previous ATH and I doubt it will do it now. The previous ones were $0.5 ATH, $1.1 ATH, $32 ATH, $266 ATH, now $1242 - once we are well past that mark, we won't see it again.

+1 Pretty much my view also.

And as some blabla to the OP, I am from Finland probably quite same as denmark but even worse climate, national hobby is having a liter of vodka and beating your wife and kids on weekends (not forgetting to throw them out in the snow) But thats only the stereotype if you want to see it that way, I like it in the summer time when there is a chance of maybe going outside in a t-shirt and sun just stays up and everything.
I only have a high school degree myself and estonians and polish people are coming to do most of the crap works with low pay so pretty much the same situation. But I thought it over, managed to land myself a job in the harbour (have also been changing tyres, scaffolding and some electricity stuff) so now I work the best weather 7-9 months and travel the rest somewhere where its warm. ATM Cambodia, 28,5C at 1:29AM.
I've had some downturns also, hurt myself at job, sporting etc. only my left hand is without a surgery or any metal in it. And I'm 24years old, have payments for my apartment at home and all the stuff people consider "normal". With BTC I was quite late, heard something about it in late 2011 but found it too difficult to buy and forgot about it until this october or so when I read of the norwegian guy buying an apartment with BTC. Started buying in but still have like only bit more than 5BTC, hopefully can accumulate more and let it be only choochoo for 2014.

So maybe I could be somekind of an example for you, you can if you want.

Peace.

Good for you.
You should really travel a a bit to see how other people live and why those immigrants come and do all the crap jobs. In Poland, Ukraine, Bulgaria and many other typical monthly wage is below $500. I used to work 12 hours a day for $2/h (!) and I have a master's degree, speak 3 languages and can do anything from repairing your car to setting up a LAN network. I know people who have PhD in science and work for $600/month. Before you start complaining about your hard and exhausting $20/h job come and visit us third worlders  

Not sure if this reply was for me or OP but yeah, I ensure you I know how crappy places and lives most of the people on this planet have. Here in cambodia for example average wage for month is something like 100-200$ and these people work 15-20hours a day. And theres no weekends or vacations. I am not complaining about my life or setup, I believe it pretty much is the best situation where i possibly could have gotten by this age. Ofcourse I could be making lots more money if I just had been in school for longer time, got myself a degree in something and so on but I never was interested in that. I want to live my life in this beautiful planet and see places and people I surely wouldnt see if I had to work my ass off with 40-50hours a week in an office to get that ~70k€ year. So now I make maybe 25-30k€ and enjoy my life for the rest of the time, Have to make do with shoestring budget when I'm in Finland for the summer but then when winter comes and it's time to go away again and my money has 5-10X buying power compared to Finland I can live like a king and spend 30-40$ a day.

I was talking to you and Ibian. From time to time I see people complaining about their situation, and you mentioning immigrants just triggered my response. On one hand we have people begging for donations, on the other a topic where some guys argue whether $1mil is enough to live comfortably. Most of my friends left the country to work abroad simply because they can earn 4-6 times more in just any job. If you're let's say a teacher in Eastern Europe you earn $500/month and then there's income tax, medical care, VAT and so on. In Germany it's $2000. Who woldn't move?

[JimboToronto]

Bitcoin never will be 10.000 usd. Who would buy bitcoins for 10k a pop?

When a whole bitcoin is enough to retire on, anyone would jump at the chance for a cheap $10k whole coin.

We're still nowhere near the vertical stage of the adoption curve.

[segeln]

We're still nowhere near the vertical stage of the adoption curve.

I think we are close to it.
We only need more poular media-Attention and the vertical starts.
In Germany it will be DER SPIEGEL, FOCUS,STERN and the tabloid BILD.
In Canada ?
In the USA Newsweek,Time Magazine and ?

[Richard Branson]

We're still nowhere near the vertical stage of the adoption curve.

I think we are close to it.
We only need more poular media-Attention and the vertical starts.
In Germany it will be DER SPIEGEL, FOCUS,STERN and the tabloid BILD.
In Canada ?
In the USA Newsweek,Time Magazine and ?

In Germany?
These papers are for the uneducated dumbass. They will never buy bitcoin, either they are to stupid or don`t have any money to spare.
That's the majority of germany.

[notme]

It depends on your timeframe and scale.  If you are are trading a small portion of your position over a long time to preserve profits and gain from selloffs, incremental is the way to go.  If you are taking large, short term positions to make profits in whatever asset you prefer to hold, then go with Livermore.

Different styles for different temperaments.  It takes all kinds to make a market.  Personally, I go the Livermore route for fun while my bot handles the incremental.  Just never go short with leverage in this market unless you have nerves of steel.

[segeln]

These papers are for the uneducated dumbass. They will never buy bitcoin, either they are to stupid or don`t have any money to spare.
That's the majority of germany.

I appreciate your friendly view on the Germans.
I never thought I am an uneducated dumbass.

[exocytosis]

We're still nowhere near the vertical stage of the adoption curve.

I think we are close to it.
We only need more poular media-Attention and the vertical starts.

Don't we need some more infrastructure as well? Several large, reliable exchanges that can handle the waves of new buyers?

I think BTC is still at least a year away from truly going mainstream (in the Western world). And then there's the rest of the world, where most people live. There's tremendous upside.

[Richard Branson]

The people are just dumb... it's the same in every country.
Not just germany.

The people are happy with food, shelter and apple products.

[isov]

I've read that traders use 5 to 10 years of historic data to test their indicators on. Bitcoin simply doesn't have enough historical data, and is a starting market, thus making any sound prediction of the future based on the past a hard call.

Didn't you know that in bitcoin world, one year is equivalent of 10+ years of regular markets? Look at volatility, we go through all the regular events 10 times faster. We already had three huge crashes after enormous 100-fold rallies, something that took wallstreet about 100 years. So I'd say there is enough history. And no, bitcoin never broke the previous ATH and I doubt it will do it now. The previous ones were $0.5 ATH, $1.1 ATH, $32 ATH, $266 ATH, now $1242 - once we are well past that mark, we won't see it again.

+1 Pretty much my view also.

And as some blabla to the OP, I am from Finland probably quite same as denmark but even worse climate, national hobby is having a liter of vodka and beating your wife and kids on weekends (not forgetting to throw them out in the snow) But thats only the stereotype if you want to see it that way, I like it in the summer time when there is a chance of maybe going outside in a t-shirt and sun just stays up and everything.
I only have a high school degree myself and estonians and polish people are coming to do most of the crap works with low pay so pretty much the same situation. But I thought it over, managed to land myself a job in the harbour (have also been changing tyres, scaffolding and some electricity stuff) so now I work the best weather 7-9 months and travel the rest somewhere where its warm. ATM Cambodia, 28,5C at 1:29AM.
I've had some downturns also, hurt myself at job, sporting etc. only my left hand is without a surgery or any metal in it. And I'm 24years old, have payments for my apartment at home and all the stuff people consider "normal". With BTC I was quite late, heard something about it in late 2011 but found it too difficult to buy and forgot about it until this october or so when I read of the norwegian guy buying an apartment with BTC. Started buying in but still have like only bit more than 5BTC, hopefully can accumulate more and let it be only choochoo for 2014.

So maybe I could be somekind of an example for you, you can if you want.

Peace.

Good for you.
You should really travel a a bit to see how other people live and why those immigrants come and do all the crap jobs. In Poland, Ukraine, Bulgaria and many other typical monthly wage is below $500. I used to work 12 hours a day for $2/h (!) and I have a master's degree, speak 3 languages and can do anything from repairing your car to setting up a LAN network. I know people who have PhD in science and work for $600/month. Before you start complaining about your hard and exhausting $20/h job come and visit us third worlders  

Not sure if this reply was for me or OP but yeah, I ensure you I know how crappy places and lives most of the people on this planet have. Here in cambodia for example average wage for month is something like 100-200$ and these people work 15-20hours a day. And theres no weekends or vacations. I am not complaining about my life or setup, I believe it pretty much is the best situation where i possibly could have gotten by this age. Ofcourse I could be making lots more money if I just had been in school for longer time, got myself a degree in something and so on but I never was interested in that. I want to live my life in this beautiful planet and see places and people I surely wouldnt see if I had to work my ass off with 40-50hours a week in an office to get that ~70k€ year. So now I make maybe 25-30k€ and enjoy my life for the rest of the time, Have to make do with shoestring budget when I'm in Finland for the summer but then when winter comes and it's time to go away again and my money has 5-10X buying power compared to Finland I can live like a king and spend 30-40$ a day.

I was talking to you and Ibian. From time to time I see people complaining about their situation, and you mentioning immigrants just triggered my response. On one hand we have people begging for donations, on the other a topic where some guys argue whether $1mil is enough to live comfortably. Most of my friends left the country to work abroad simply because they can earn 4-6 times more in just any job. If you're let's say a teacher in Eastern Europe you earn $500/month and then there's income tax, medical care, VAT and so on. In Germany it's $2000. Who woldn't move?

Aaa ok, maybe I didnt make my stand clearly, I dont have any problems with immigrants, I would move myself if in an other country I could get paid better. I'm actually going to be a immigrant of somesort in few weeks when I leave Asia and head to New Zealand for rest of the winter, have to earn some pocket money to cover the extra prices compared to Asia. Other question remains if it is good for a country like Finland to be part of european union or €uro. I have been working with many estonian and polish guys when I was scaffolding and they always worked really hard and got the crappiest jobs. And got still paid like really low wage compared to finnish workers.  

[JimboToronto]

We're still nowhere near the vertical stage of the adoption curve.

I think we are close to it.
We only need more poular media-Attention and the vertical starts.
In Germany it will be DER SPIEGEL, FOCUS,STERN and the tabloid BILD.
In Canada ?
In the USA Newsweek,Time Magazine and ?

I think it will start hitting the vertical between $5k-10k and start leveling off due to saturation somewhere around $500k-700k. Just my opinion, not a prediction.

Media attention in Canada?

CBC, CTV, Global, Rogers, etc., and the daily newspapers: Globe and Mail, National post on a national scale, plus local dailies like the Toronto Star, Vancouver Sun, Montreal Gazette, etc.

Magazines are almost obsolete. In fact the former best magazine store in my neighborhood recently replaced the magazine rack with a greeting card display. The only places to find all the magazines are at the railway station and bus depot.