should i buy now 2/7/14 or wait a few days please help

[chessnut]

all in favor changing the name of this thread to matt vs chessnutt 

+1
let me at him!

[Mk2vr6]

mat you dim whit, I said a number of times that the price might fall to 500, and unlike you I didnt lose money. Im making money on this cos im not a binary person like you. I can change my mind when the market changes. and at the end of the day the market can only go two ways, so get over yourself you bloody prophet.

What the fk you talking about?

I have lost money on individual trades. Over the piece, I am thousands of GBP (the only currency that I care about) in profit. I am such a bad loser, that if I had actually lost money in Bitcoin, I doubt that I would even be here.

if it goes up to 750 and shows up trend (without signs of going down)
i will probably invest

Remember, not just goes up to this level but also tests this level turning into a support level and proves that the market forces think $765 Bitcoin is cheap and will bite hands of to buy Bitcoin at this price.

Do me a favour and tell me the easiest way to convert BTC -> GBP without sitting on local bitcoins all day?

Cheers 

[JimboToronto]

If you have to ask, you're too stupid to invest just speculating. Go get a job to a casino or buy a lottery ticket.
Investing is holding.

ftfy

[MatTheCat]

Do me a favour and tell me the easiest way to convert BTC -> GBP without sitting on local bitcoins all day?
Cheers  

You are probably aware that if you do a foreign currency exchange via the banks, that they fk u up the arse on the exchange rate (4%-5%). You are probably also aware that there are cheaper ways of transferring money around the world, such as TransferWise, but that they have been instructed not to deal with Bitcoin exchanges.

You need a foreign bank account mate, or access to one. If it isnt't your own account, then the holder of the account will have to open their own Bistamp account, as Bitstamp can only do transactions with accounts belonging to the named Bitstamp account holder.

I opened myself a Euro bank account with Deutschekreditbank (DKB) specifically for Bitcoin purposes, although having a Euro bank account will of course prove to have lots of other uses.

Using my DKB bank account, I can get Euro in and out of  Bitstamp with zero costs (tiny Bitstamp fee of 0.75 euro or something) and using TransferWise, I can transfer EUR to GBP, or GBP to EUR for less than than 0.2% premium, or if I am in a hurry, about 0.5% premium.

[Mk2vr6]

Do me a favour and tell me the easiest way to convert BTC -> GBP without sitting on local bitcoins all day?
Cheers  

You are probably aware that if you do a foreign currency exchange via the banks, that they fk u up the arse on the exchange rate. You are probably also aware that there are cheaper ways of transferring money around the world, such as TransferWise, but that they have been instructed not to deal with Bitcoin exchanges.

You need a foreign bank account mate, or access to one.

I opened myself a Euro bank account with DKB specifically for Bitcoin purposes, although having a Euro bank account will of course prove to have lots of other uses.

Using my DKB bank account, I can get Euro in and out of  Bitstamp with zero costs (tiny Bitstamp fee of 0.75 euro or something) and using TransferWise, I can transfer EUR to GBP, or GBP to EUR for less than than 0.2% premium, or if I am in a hurry, about 0.5% premium.

Cheers mate, I'll look into this.

Might just swing you a PM in the morning, I'm off to bed now.

Tony.

Edit/ Also, my german isn't great so might have to choose another bank haha

[ScrapOfCat]

I wish I had followed this:

http://en.wikipedia.org/wiki/Dollar_cost_averaging

[seafarer124]

mat you dim whit, I said a number of times that the price might fall to 500, and unlike you I didnt lose money. Im making money on this cos im not a binary person like you. I can change my mind when the market changes. and at the end of the day the market can only go two ways, so get over yourself you bloody prophet.

What the fk you talking about?

I have lost money on individual trades. Over the piece, I am thousands of GBP (the only currency that I care about) in profit. I am such a bad loser, that if I had actually lost money in Bitcoin, I doubt that I would even be here.

if it goes up to 750 and shows up trend (without signs of going down)
i will probably invest

Remember, not just goes up to this level but also tests this level turning into a support level and proves that the market forces think $765 Bitcoin is cheap and will bite hands of to buy Bitcoin at this price.

Do me a favour and tell me the easiest way to convert BTC -> GBP without sitting on local bitcoins all day?

Cheers 

Open an account with BitStamp.

[segeln]

First:
make your decision/opinion about the future of bitcoins.
Second :
Make a personal forecast/estimation for the value of bitcoins in about 1 or 2 years
than conclude:
is your personal value-forecast/estimation >let`s say 2000 €/BTC than ist dosn`t really matter at what Price below  800 €/BTC you are going to buy BTC.
The higher your personal value-forecast/estimation  the less does it matter.
You will be on the winning side either way.
So did I:

Bought and hold

Now I am watching very relaxed and amused price-movements.
The only thing to strictly be applied is:

put only money in BTC you can afford to lose.

IMHO: BTC is

a- once-in -a-life -chance
to participate in a revolutionary changing monetary System[in case this will happen]

[MatTheCat]

Edit/ Also, my german isn't great so might have to choose another bank haha

They do seem to lack an English option on their website. I am sure that there are other alternatives. I know that Deutschebank have an English language option on their website and people who can speak to you on the telephone in English. Of course, I have no experience of opening an account with them from abroad.

[Dalmar]

@OP, I saved your ass last time when you wanted to buy in the 820s by saying we would see 700 soon. And I still don't think it is a good time to buy.

[MatTheCat]

@OP, I saved your ass last time when you wanted to buy in the 820s by saying we would see 700 soon. And I still don't think it is a good time to buy.

The OP seems a near certainty to get slaughtered. He aint even bought any BTC yet and he is getting all fixated with all the Bitcoin to a bazillion USD within the next 12 months theories, backed up with log charts with lines drawn on them of course. He has got his hands on 12K USD, and imagining what life would be like if he could multiply that by 10, 20, 30, etc

Bitcoin will probably trend at $700 range for a few days. The OP will get impatient and will convince himself that Bitcoin has shown strong bottom support at $700 and that the trend has reversed. He will look to users of this forum for the bias confirmation that he wants to hear and he will of course get it in bucket loads. His attention span and personal bias will prevent him from even reading two single sentences from anyone who advises that caution be exercised. The OP will likely start entering the market right at this range. Within a few weeks, he will find himself around 30% underwater. He will look to this forum for moral support, he will again get to told to HODL, and be commanded to put as much new fiat as he can muster into these unbelievably cheap Bitcoins. Then Bitcoin will really tank as the true final capitulation hits. He will be 70% underwater by then, at which point, he will sell everything.

As Bitcoin bounces back, he will jump back in with the little capital that he has left, right at the top of the bounce. Bitcoin will then slump back down. He will sell taking a further 40% haircut. Bitcoin will spend a period of time in doledrums before building up support for another bull-run. A bull-run the OP will not be in a position to take advantage off.

[Dalmar]

The OP seems a near certainty to get slaughtered. He aint even bought any BTC yet and he is getting all fixated with all the Bitcoin to a bazillion USD within the next 12 months theories, backed up with log charts with lines drawn on them of course. He has got his hands on 12K USD, and imagining what life would be like if he could multiply that by 10, 20, 30, etc

Bitcoin will probably trend at $700 range for a few days. The OP will get impatient and will convince himself that Bitcoin has shown strong bottom support at $700 and that the trend has reversed. He will look to users of this forum for the bias confirmation that he wants to hear and he will of course get it in bucket loads. His attention span and personal bias will prevent him from even reading two single sentences from anyone who advises that caution be exercised. The OP will likely start entering the market right at this range. Within a few weeks, he will find himself around 30% underwater. He will look to this forum for moral support, he will again get to told to HODL, and be commanded to put as much new fiat as he can muster into these unbelievably cheap Bitcoins. Then Bitcoin will really tank as the true final capitulation hits. He will be 70% underwater by then, at which point, he will sell everything.

As Bitcoin bounces back, he will jump back in with the little capital that he has left, right at the top of the bounce. Bitcoin will then slump back down. He will sell taking a further 40% haircut. Bitcoin will spend a period of time in doledrums before building up support for another bull-run. A bull-run the OP will not be in a position to take advantage off.

LMAO. 

[oda.krell]

@OP, I saved your ass last time when you wanted to buy in the 820s by saying we would see 700 soon. And I still don't think it is a good time to buy.

The OP seems a near certainty to get slaughtered. He aint even bought any BTC yet and he is getting all fixated with all the Bitcoin to a bazillion USD within the next 12 months theories, backed up with log charts with lines drawn on them of course. He has got his hands on 12K USD, and imagining what life would be like if he could multiply that by 10, 20, 30, etc

Bitcoin will probably trend at $700 range for a few days. The OP will get impatient and will convince himself that Bitcoin has shown strong bottom support at $700 and that the trend has reversed. He will look to users of this forum for the bias confirmation that he wants to hear and he will of course get it in bucket loads. His attention span and personal bias will prevent him from even reading two single sentences from anyone who advises that caution be exercised. The OP will likely start entering the market right at this range. Within a few weeks, he will find himself around 30% underwater. He will look to this forum for moral support, he will again get to told to HODL, and be commanded to put as much new fiat as he can muster into these unbelievably cheap Bitcoins. Then Bitcoin will really tank as the true final capitulation hits. He will be 70% underwater by then, at which point, he will sell everything.

As Bitcoin bounces back, he will jump back in with the little capital that he has left, right at the top of the bounce. Bitcoin will then slump back down. He will sell taking a further 40% haircut. Bitcoin will spend a period of time in doledrums before building up support for another bull-run. A bull-run the OP will not be in a position to take advantage off.

Nice writeup. I like your new style better than your mouth-foamy period :D. But "70% underwater"? Really? $213 per coin, can I quote you on that :)

[MatTheCat]

But "70% underwater"? Really? $213 per coin, can I quote you on that

No.

[BitcoinAshley]

SELL ALL THE COINS

BITCOIN IS CRASHING

IF MTGOX DIES, BITCON DIES WITH IT BECAUSE MTGOX HAS 80% OF VOLUME

[ksteve96]

IF MTGOX DIES, BITCON DIES WITH IT BECAUSE MTGOX HAS 80% OF VOLUME

I hope your joking. Partly since you're saying hodl in another thread but mostly because I can't remember the last time Gox had 80%

[derpinheimer]

IF MTGOX DIES, BITCON DIES WITH IT BECAUSE MTGOX HAS 80% OF VOLUME

I hope your joking. Partly since you're saying hodl in another thread but mostly because I can't remember the last time Gox had 80%

Theyre joking. BitcoinAshley is a HODLER to the end.

[fonzie]

@OP, I saved your ass last time when you wanted to buy in the 820s by saying we would see 700 soon. And I still don't think it is a good time to buy.

The OP seems a near certainty to get slaughtered. He aint even bought any BTC yet and he is getting all fixated with all the Bitcoin to a bazillion USD within the next 12 months theories, backed up with log charts with lines drawn on them of course. He has got his hands on 12K USD, and imagining what life would be like if he could multiply that by 10, 20, 30, etc

Bitcoin will probably trend at $700 range for a few days. The OP will get impatient and will convince himself that Bitcoin has shown strong bottom support at $700 and that the trend has reversed. He will look to users of this forum for the bias confirmation that he wants to hear and he will of course get it in bucket loads. His attention span and personal bias will prevent him from even reading two single sentences from anyone who advises that caution be exercised. The OP will likely start entering the market right at this range. Within a few weeks, he will find himself around 30% underwater. He will look to this forum for moral support, he will again get to told to HODL, and be commanded to put as much new fiat as he can muster into these unbelievably cheap Bitcoins. Then Bitcoin will really tank as the true final capitulation hits. He will be 70% underwater by then, at which point, he will sell everything.

As Bitcoin bounces back, he will jump back in with the little capital that he has left, right at the top of the bounce. Bitcoin will then slump back down. He will sell taking a further 40% haircut. Bitcoin will spend a period of time in doledrums before building up support for another bull-run. A bull-run the OP will not be in a position to take advantage off.

Spot on. Best comment i have seen in here in the last weeks.

[MatTheCat]

Theyre joking. BitcoinAshley is a HODLER to the end.

BitcoinAshley is trying to do a Proudhon impression, but failing badly as with the odd exception such as his 'MtGox 80% of Volume' comment above, his attempts at satirising fear mongering FUD spreading bears, have actually turned out to be razor sharp market analysis.

[Ibian]

if it goes up to 750 and shows up trend (without signs of going down)
i will probably invest

I don't understand this mentality. If the price goes up, you will invest. You want to be sure you get less coins than you could get now. Why not just invest now while the price is below your target?