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Author Topic: What percentage loss have you taken speculating on bitcoin so far?  (Read 2846 times)
ruski
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September 05, 2011, 02:46:09 PM
 #21

I've been in stock market for a while and one thing I learned is nobody would admit their losses in an online community. OP is basically wasting his time Smiley

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September 05, 2011, 10:42:22 PM
 #22

I've been in stock market for a while and one thing I learned is nobody would admit their losses in an online community. OP is basically wasting his time Smiley

Most likely it's those who lost who don't care to post. Those who made money don't mind saying so.

I think it depends on when you started. If you started speculating/mining in June... good luck! Earlier, you're probably in good shape. I started before the run-up and I wish I had bought more machines then instead of playing it safe and buying a few at a time. But then there are those people who spent $20000 in June...

I started in june XD. Still made profit
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September 05, 2011, 10:45:53 PM
 #23

If you started mining in the begining of June (like I did), you should be fine since your rigs should have been paid off. Now whether you should continue to mine depends on your power rate.

If you bought bitcoin in June as an investment, goood luck..

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im3w1l
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September 05, 2011, 10:58:38 PM
 #24

Not investment, short term trading
the joint
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September 05, 2011, 11:04:49 PM
 #25

If you started mining in the begining of June (like I did), you should be fine since your rigs should have been paid off. Now whether you should continue to mine depends on your power rate.

If you bought bitcoin in June as an investment, goood luck..

Started in June, up almost 400%.

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September 05, 2011, 11:08:27 PM
 #26

Bitcoin was traded as high as $30, with decent volume. Yet nobody would admit they bought at that price.

All you can see here is people bragging about their gains, same thing you can see in a penny stock forum.

BTW, I don't give a damn about people who claim they made any profit, unless they can prove it. 90% of short-term traders lose money and that should apply to the bitcoin market as well. I do respect people who admit their loss as most of people won't have the courage to do so.

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the joint
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September 05, 2011, 11:15:22 PM
 #27

Bitcoin was traded as high as $30, with decent volume. Yet nobody would admit they bought at that price.

All you can see here is people bragging about their gains, same thing you can see in a penny stock forum.

BTW, I don't give a damn about people who claim they made any profit, unless they can prove it. 90% of short-term traders lose money and that should apply to the bitcoin market as well. I do respect people who admit their loss as most of people won't have the courage to do so.

People 'bragging' about gains falls in line with the OP.

Profit can be described in terms of a loss thanks to a handy minus symbol.

pennytrader
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September 05, 2011, 11:17:31 PM
 #28

Bitcoin was traded as high as $30, with decent volume. Yet nobody would admit they bought at that price.

All you can see here is people bragging about their gains, same thing you can see in a penny stock forum.

BTW, I don't give a damn about people who claim they made any profit, unless they can prove it. 90% of short-term traders lose money and that should apply to the bitcoin market as well. I do respect people who admit their loss as most of people won't have the courage to do so.

People 'bragging' about gains falls in line with the OP.

Profit can be described in terms of a loss thanks to a handy minus symbol.

Enough BS. Because of people like you, I see no future of bitcoin...

please donate to 1P3m2resGCP2o2sFX324DP1mfqHgGPA8BL
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September 05, 2011, 11:23:02 PM
 #29

i boldly bought in at 18. then some more at 22. in the long,slow slide i bought more at 13.
then i started some daytrading, which brought me down to an average investment of 10.5. i sold everything at 8.8 now waiting to buy back at the bottom.
so my loss is about 16%. - the total investment was in the low single digits of my total savings.

see? somebody admitted it.

what is even more embarrassing is i first heard about bitcoin august 2010, but decided i am too busy to further investigate it.
but i don't think it was stupid. i lost even more money percentage wise in the stock market recently, and that was recommended by my bank. its all a big gamble. don't put in it what you can't afford to lose.
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September 05, 2011, 11:23:57 PM
 #30

I have to wonder if the people who bought at 30 have already sold. So disgusted with bitcoin they have left
and no longer wish to post on the forums. Therefore the people who are still posting have a one sided view and
tread very carefully when trading/mining/etc...
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September 05, 2011, 11:49:16 PM
 #31

Bitcoin was traded as high as $30, with decent volume. Yet nobody would admit they bought at that price.

All you can see here is people bragging about their gains, same thing you can see in a penny stock forum.

BTW, I don't give a damn about people who claim they made any profit, unless they can prove it. 90% of short-term traders lose money and that should apply to the bitcoin market as well. I do respect people who admit their loss as most of people won't have the courage to do so.

People 'bragging' about gains falls in line with the OP.

Profit can be described in terms of a loss thanks to a handy minus symbol.

Enough BS. Because of people like you, I see no future of bitcoin...

I'll be the first to admit that my primary motivation is trading and interest in the usefulness of the currency itself is secondary.

But, I've sold marketplace products for BTC.  I've contributed to the economy and plan to do so in the future.

grod
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September 06, 2011, 12:01:42 AM
 #32

I'll be the second one to admit a loss then.   I speculate on the "Tuesday effect" having noticed weekly highs are more likely on Tuesday in the AM mountain time than any other time of the week.  So I sell 80% of my accumulated position by Wed.  This is speculation.

Last week I was too busy to sell.  I'm now looking at around a 30% loss on a week's worth of coins.

And I'm going to do it again!   Muahaha.  Because doing the same (losing) thing over and over and expecting a different outcome is the definition of a successful trader.
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September 06, 2011, 12:06:32 AM
 #33

+ about 500 percent since late april, then got a bot, only investing my initial amount + about 100 percent again.

then got all my money out, and just watch the steady decline... was fun, but the ” goldrush” times are over...
helloworld
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September 06, 2011, 12:08:56 AM
 #34

I lost about $14, or 0.05% of total investments

So, you invested $28,000? Did you put that in directly as cash or did you spend some of it on mining equipment?

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September 06, 2011, 12:31:05 AM
 #35

I am down about ~35%.

I got in in early July when it "came down" to $14.25.

Had I stayed in I would be down almost 50% but I have been jumping in and out based on watching things.

I have a target amount of BTC though and will do small trading until I reach that goal. It has gone up since I started so I am pleased.

Looking long term I know it will go up quite a bit in the long term.

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September 06, 2011, 12:40:14 AM
 #36

Well, I'm up about 1000% which really sucks because with 20-20 hindsight I should have sold more when I was up 4000%

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September 06, 2011, 01:12:03 AM
 #37

IM sure most people have lost, its not that hard to comprehend that only the people that starting mining in 2010, or very early 2011, made real cash.  Or if you got lucky and bought at 5 t0 7 bux and sold when they hit the 30 mark for a day or so.  Outside of that, day trading, which I do, or selling products or services for bitcoins do not really make you any cash.  Even if you can buy at freaking 7 and sell at 9, you have to sell so many coins to make it worth it.  So unless you have 1000s of dollars to play with, risk, then you wont make money day trading with bitcoin.  THe hope is that bitcoin keeps getting better, and stronger so bitcoins become back to 30 or 40 bux a coin, which is where it should be with the cost of equipment and electricity to mine and we can break bitcoins down into fractions so it would be great.  I dont think we will see that price point for a long time if ever, but we can all hope cant we.

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September 06, 2011, 02:08:26 AM
 #38

i lost 99.5% interest in my other hobbies when i bought into bitcoin Tongue

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