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Author Topic: Well, it sure feels like 6 months ago.  (Read 6144 times)
Anonymous
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September 11, 2011, 06:10:05 AM
 #1

This is when I bought my last dozen or so Bitcoins, at about $4. Who here is in the same league? Who has yet to lose a dime even with this steep decline?
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September 11, 2011, 06:17:11 AM
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To date I've INVESTED $2000 into bitcoin, netting a profit of just shy of $600. I'm supremely confident that the $1400 loss will be covered over time.
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September 11, 2011, 06:23:17 AM
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To date I've INVESTED $2000 into bitcoin, netting a profit of just shy of $600. I'm supremely confident that the $1400 loss will be covered over time.

Are you sure you know what this word means?
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September 11, 2011, 06:55:46 AM
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This is when I bought my last dozen or so Bitcoins, at about $4. Who here is in the same league?

I bought $100 AUD worth at just above $3 US.  That gave my kids 10 Bitcoin each.  Those 30 odd coins will be hoarded (Until the kids reach 21 years old)

I have since been dollar cost averaging $100 AUD each month when ever I feel like it.

I must admit the third tranche I paid $11 each (on the way to $30 high) and when it jumped above $22 I had to sell that lot.  There are not too many investments that give 100% so quickly.  Highest paid so far is $16.34

My personal goal is to acquire/save/hoard 500 bitcoin and spend 100 bitcoin for real use by the end of the year.
I am getting there and have spent 38 Bitcoin in real transactions.

The more I use Bitcoin, the more I like it.

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September 11, 2011, 08:47:32 AM
 #5

6 months ago I was buying bitcoin with paypal (coinpal) and I think it was under a dollar, I also spent most of those bitcoin, wish I had held, but its fun to play with.  Most recently I bought at ~14 when I thought it would go back up, sold ~13 bought at 8, and bought some more at 4.  waiting till it hits $1 to buy some more.  Also I've acquired bitcoin a small amount of bitcoin from methods other than exchange for USD.

Set up the same thing..
http://bit.ly/btcrefs
Get more bitcoins.
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September 11, 2011, 12:33:05 PM
 #6

To date I've INVESTED $2000 into bitcoin, netting a profit of just shy of $600. I'm supremely confident that the $1400 loss will be covered over time.

Are you sure you know what this word means?


Quite sure. It takes money to make money!
Anonymous
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September 11, 2011, 02:18:08 PM
 #7

To date I've INVESTED $2000 into bitcoin, netting a profit of just shy of $600. I'm supremely confident that the $1400 loss will be covered over time.

Are you sure you know what this word means?


Quite sure. It takes money to make money!

But taking money and throwing it into a bottomless pit doesn't mean spending money on an investment. You seriously have no basic grasp of economics if you think something that has lost 50% of it's value in only a few days and has been on a steady decline for months is still viable? You can't just look at a year chart and say HEY IT'S ABOVE WHERE IT WAS.
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September 11, 2011, 03:46:16 PM
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I invested 25k around that price (in mining hardware , to make sure i have something left if BTC evaporates)..If I sell my equipment today (30% worth off) today i made 2.5k ..

BTW Immanuel why dont u answer msgs?


"Money needs to be depoliticized, and the time has come for the separation of money and state to be accomplished."
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September 12, 2011, 12:47:23 AM
 #9

This is when I bought my last dozen or so Bitcoins, at about $4. Who here is in the same league? Who has yet to lose a dime even with this steep decline?

I don't buy coins, although I do get paid in them for some work. About a third of what I have right now I got back during the $0.80 days in March (and another 8.50 BTC which I got during the $0.80 days and spent on a shirt at $3.50), and the rest at various places up and down the big bubble (although I did escape part of the downfall by exchanging back and forth). So it's a mixed bag for me.

Argumentum ad lunam: the fallacy that because Bitcoin's price is rising really fast the currency must be a speculative bubble and/or Ponzi scheme.
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September 12, 2011, 05:37:15 AM
 #10

To date I've INVESTED $2000 into bitcoin, netting a profit of just shy of $600. I'm supremely confident that the $1400 loss will be covered over time.

Are you sure you know what this word means?


Quite sure. It takes money to make money!

But taking money and throwing it into a bottomless pit doesn't mean spending money on an investment. You seriously have no basic grasp of economics if you think something that has lost 50% of it's value in only a few days and has been on a steady decline for months is still viable? You can't just look at a year chart and say HEY IT'S ABOVE WHERE IT WAS.

...But it is higher than where it was? And after people cash out the price will stabilize. Once that happens business's like mine (openspacemovement.org) will feel confident enough to start accepting bitcoins as a form of currency. Once that happens the value will become incalculable!
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September 12, 2011, 10:23:08 AM
 #11

...But it is higher than where it was? And after people cash out the price will stabilize. Once that happens business's like mine (openspacemovement.org) will feel confident enough to start accepting bitcoins as a form of currency. Once that happens the value will become incalculable!
It will never stabilize, and you summarize why pretty well with this post. The Bitcoin price will continue to rally and then crash forever. When people think it will go down they will sell, hoping to get cheaper coins later, which pushed the price down. Then, when it has fallen so far that enough people think it can't fall much further it stop falling. That will put people in the "value will become incalculable" modus again, and we'll have a new rally which will last until the price has become so high that more money are being pulled out of the market than added.
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September 12, 2011, 10:54:20 AM
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...But it is higher than where it was? And after people cash out the price will stabilize. Once that happens business's like mine (openspacemovement.org) will feel confident enough to start accepting bitcoins as a form of currency. Once that happens the value will become incalculable!
It will never stabilize, and you summarize why pretty well with this post. The Bitcoin price will continue to rally and then crash forever. When people think it will go down they will sell, hoping to get cheaper coins later, which pushed the price down. Then, when it has fallen so far that enough people think it can't fall much further it stop falling. That will put people in the "value will become incalculable" modus again, and we'll have a new rally which will last until the price has become so high that more money are being pulled out of the market than added.

You could see this from any stock, any currency, anything really. If it was that easy nobody would be working.
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September 12, 2011, 11:29:13 AM
 #13

You could see this from any stock, any currency, anything really. If it was that easy nobody would be working.
No, you can't. Stocks have an underlying value, and the stock price will not deviate very much from what the company is expected to earn. Currencies can get some of this, but because the market participants knows that governments can change their economic policies to stabilize the value, it will seldom get really bad. The best comparison is probably gold, which behaves pretty much as I described. There are enough participants in that market to make the cycles much longer than for bitcoins, though.
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September 12, 2011, 03:17:53 PM
 #14

are you atlas?
I thought atlas is already dead.

If you see any of my suggestions useful, please donate me. http://btc.to/ec
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September 12, 2011, 03:20:41 PM
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...But it is higher than where it was? And after people cash out the price will stabilize. Once that happens business's like mine (openspacemovement.org) will feel confident enough to start accepting bitcoins as a form of currency. Once that happens the value will become incalculable!
It will never stabilize, and you summarize why pretty well with this post. The Bitcoin price will continue to rally and then crash forever. When people think it will go down they will sell, hoping to get cheaper coins later, which pushed the price down. Then, when it has fallen so far that enough people think it can't fall much further it stop falling. That will put people in the "value will become incalculable" modus again, and we'll have a new rally which will last until the price has become so high that more money are being pulled out of the market than added.

But what your saying doesn't take into account bitcoins eventual adoption as a true currency, business's accepting it across the board, or the finite number of them which once are completely mined will eliminate much of the mining pools and other BS that are bringing this commodity down.
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September 12, 2011, 03:21:47 PM
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are you atlas?
I thought atlas is already dead.

No my name is Jason and I run openspacemovement.org. Please don't insult me by comparing me to that quack.
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September 12, 2011, 03:25:34 PM
 #17

It will never stabilize, and you summarize why pretty well with this post. The Bitcoin price will continue to rally and then crash forever. When people think it will go down they will sell, hoping to get cheaper coins later, which pushed the price down. Then, when it has fallen so far that enough people think it can't fall much further it stop falling.

That's a really silly statement. If Bitcoin remained "forever volatile" you would see hedging mechanisms and insurance which tempered the peaks and troughs. Basically, if you can predict a pattern of movement, you can profit from it, and thus reduce the movement. You can see this with the "btc always falls in price over the weekend" that was occurring in regular intervals earlier this summer. If it can be predicted, people buy and sell in anticipation of profiting from such foresight and ultimately diminish the move they were predicting.

Bitcoin will be volatile for a very long time, but ultimately it will (like all goods and services) tend toward efficiency and stability.
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September 12, 2011, 03:44:01 PM
 #18

Bitcoin will be volatile for a very long time, but ultimately it will (like all goods and services) tend toward efficiency and stability.
Gold has been around for thousands of years, and a lot of the reason why countries stopped using it as a currency was that it was too volatile. There is no reason to believe that bitcoins will be different. I realize that you have to believe what you do because the alternative is to admit that bitcoins (and gold) can never work well as a currency, so I'll stop arguing now.

I did not say that the volatility can be predicted, just that it will always be there.
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September 12, 2011, 03:56:12 PM
 #19

...But it is higher than where it was? And after people cash out the price will stabilize. Once that happens business's like mine (openspacemovement.org) will feel confident enough to start accepting bitcoins as a form of currency. Once that happens the value will become incalculable!

Are you the same openspacemovement.org that took donations to fund, amongst other things, Copenhagen Suborbitals? I hope not considering how that ended. Jason Marsh or something? You said your name was Jason so...
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September 12, 2011, 04:02:44 PM
 #20

...But it is higher than where it was? And after people cash out the price will stabilize. Once that happens business's like mine (openspacemovement.org) will feel confident enough to start accepting bitcoins as a form of currency. Once that happens the value will become incalculable!

Are you the same openspacemovement.org that took donations to fund, amongst other things, Copenhagen Suborbitals? I hope not considering how that ended.

Great here comes the goonrush to ruin just one more thing. You guys just don't know when to quit.
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