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

[MatTheCat]

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?

Erm, because he wants to be sure that the trend is going to go in his favour?

$750 - $765 right now is a strong resistance level. If Bitcoin can take this out, and test it convincingly, then it 'proves' that strength is returning to the market.

Only a tiny percentage of Bitcoins out there are being put to any actual use. The rest are being held or traded for speculative purposes. If Bitcoin aint going to go up, then it is going to go down. It is that simple.

[Ibian]

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?

Erm, because he wants to be sure that the trend is going to go in his favour?

$750 - $765 right now is a strong resistance level. If Bitcoin can take this out, and test it convincingly, then it 'proves' that strength is returning to the market.

Only a tiny percentage of Bitcoins out there are being put to any actual use. The rest are being held or traded for speculative purposes. If Bitcoin aint going to go up, then it is going to go down. It is that simple.

The end result is that he will get less coins. What's so hard to understand about that? And why would anyone consider that a good thing?

[MatTheCat]

The end result is that he will get less coins. What's so hard to understand about that? And why would anyone consider that a good thing?

What is so hard to understand? When 'bitcoinsrus' first came running to this forum practically pleading with Bitcoin Nutters to convince him to dive face first into this shark pool, Bitcoin was $810. I told him that I reckoned Bitcoin was going lower, much lower, but if the trend was going to reverse, then Bitcoin needed to get up to and above the $835 range, and stay above it on convincing volume, preferably testing this level a couple of times and being met with a large volume of buying power at this level. If Bitcoin done this, then I would look at going long Bitcoin myself.

So, If I would have been happy to buy-in at +$835, why wasn't I happy to buy Bitcoins at $800 and thus get them even cheaper or further still, why amn't I buying them at $700?

Because I want the market to prove to me that I am not going to piss my capital into some whale's private fucking yacht fund!

Do you understand anything of how markets work?

Seriously.  

[Ibian]

Quit it with the nutters thing already.

He is willing to buy at 750. The price is below that now and nobody knows if it is going to go lower. He can be sure, right now, that he will get more coins by buying now than if he waits for the price to go up. Nobody knows if the price will go lower, so waiting for that to happen is a hell of a gamble.

835 is higher than 750, incidentally.

[MatTheCat]

The term 'Bitcoin Nutter' is a valid one and should be used often. I rest my case, upon the following quote:

He is willing to buy at 750. The price is below that now and nobody knows if it is going to go lower. He can be sure, right now, that he will get more coins by buying now than if he waits for the price to go up. Nobody knows if the price will go lower, so waiting for that to happen is a hell of a gamble.

             










   

[GigaCoin]

Oi Nutter!

Oi Oi Oi !

[bitcoinsrus]

The end result is that he will get less coins. What's so hard to understand about that? And why would anyone consider that a good thing?

What is so hard to understand? When 'bitcoinsrus' first came running to this forum practically pleading with Bitcoin Nutters to convince him to dive face first into this shark pool, Bitcoin was $810. I told him that I reckoned Bitcoin was going lower, much lower, but if the trend was going to reverse, then Bitcoin needed to get up to and above the $835 range, and stay above it on convincing volume, preferably testing this level a couple of times and being met with a large volume of buying power at this level. If Bitcoin done this, then I would look at going long Bitcoin myself.

So, If I would have been happy to buy-in at +$835, why wasn't I happy to buy Bitcoins at $800 and thus get them even cheaper or further still, why amn't I buying them at $700?

Because I want the market to prove to me that I am not going to piss my capital into some whale's private fucking yacht fund!

Do you understand anything of how markets work?

Seriously.  

hello matt, i read all your comments and i appreciate your time
i was planning to not buy as of now because from past trends i just feel it could go down to 600
i will see next week where trend is

i dont care if it goes back up, if it does go back to 750 or 800 and i should have bought now, i am willing to take a loss.  i plan to hold long (few months to a year)
so i wait for now and everyones advice is being considered

[bitcoinsrus]

@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.

yea i second this, im waiting to get in

[pbody]

Because I want the market to prove to me that I am not going to piss my capital into some whale's private fucking yacht fund!

Well put! Yet if you hodl (Im getting sick of this word) this will never happen and the current price is good in the long term. At least I believe it will be.

If its a short term investment wait. If its a long term investment buy, store, and do not come back to this forum for another three years. The price may drop another hundred or two but all the energy/ time you would have spent watching the price will be worth the small loss in the big scale of things.

[BitcoinAshley]

SELL ALL THE COINS

BITCOIN IS CRASHING

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

[bitcoinsrus]

SELL ALL THE COINS

BITCOIN IS CRASHING

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

i felt like you wrote this already (not sure on this post but I seen it somewhere)
anyways thanks for your opinion

[Dalmar]

Well put! Yet if you hodl (Im getting sick of this word) this will never happen and the current price is good in the long term. At least I believe it will be.

If its a short term investment wait. If its a long term investment buy, store, and do not come back to this forum for another three years. The price may drop another hundred or two but all the energy/ time you would have spent watching the price will be worth the small loss in the big scale of things.

Wait 3 years? Do you not realize that bitcoin is an all out attack on the establishment banking system. Once bitcoin starts bothering them again it's at high risk of being killed off or being replaced by a more establishment friendly crypto. It is advisable to bitcoin noobs such as the OP to check its developments at least once every week and have price alerts on their phone. Hodling bitcoin long term at this point is high risk.

[cosmofly]

The term 'Bitcoin Nutter' is a valid one and should be used often. I rest my case, upon the following quote:

He is willing to buy at 750. The price is below that now and nobody knows if it is going to go lower. He can be sure, right now, that he will get more coins by buying now than if he waits for the price to go up. Nobody knows if the price will go lower, so waiting for that to happen is a hell of a gamble.

             










   

Matthecat is ASS Talking again, in another thread he says bitcoin will be $10,000 by end of Feb and many forum members believed him and are going " o my god really ooo I hope ur right I'm so happy ooo"

Ass talk

[bitcoinsrus]

The term 'Bitcoin Nutter' is a valid one and should be used often. I rest my case, upon the following quote:

He is willing to buy at 750. The price is below that now and nobody knows if it is going to go lower. He can be sure, right now, that he will get more coins by buying now than if he waits for the price to go up. Nobody knows if the price will go lower, so waiting for that to happen is a hell of a gamble.

             










   

Matthecat is ASS Talking again, in another thread he says bitcoin will be $10,000 by end of Feb and many forum members believed him and are going " o my god really ooo I hope ur right I'm so happy ooo"

Ass talk

i did read that post and was wondering about it

[pbody]

Realize the risk you are taking, take it or not. Check back at a later date. 3 years is hyperbole.

I believe that it will get back to 1k again, so I'm not worried. Worse case; it was just a savings account.

[bitcoinsrus]

Realize the risk you are taking, take it or not. Check back at a later date. 3 years is hyperbole.

I believe that it will get back to 1k again, so I'm not worried. Worse case; it was just a savings account.

completely agree and life involves risks

[JimboToronto]

please advice needed

I wrote a reply to your "My Plan" thread but it was locked before I could hit "post" so I'll try again here.

Do not rely on this trollbox forum for advice. Most people here are pimping their own positions and preferences, including those from outside the Bitcoin community who may have a vested interest in seeing Bitcoin fail completely.

A good rule of thumb is to disregard anyone without 3-digit activity. That doesn't mean you can trust all senior or hero members, but at least there's enough posting history to figure out who the worst trolls are.

[bitcoinsrus]

please advice needed

I wrote a reply to your "My Plan" thread but it was locked before I could hit "post" so I'll try again here.

Do not rely on this trollbox forum for advice. Most people here are pimping their own positions and preferences, including those from outside the Bitcoin community who may have a vested interest in seeing Bitcoin fail completely.

A good rule of thumb is to disregard anyone without 3-digit activity. That doesn't mean you can trust all senior or hero members, but at least there's enough posting history to figure out who the worst trolls are.

yea again sorry for the 4 posts here today guys

yea i listen to everyone but i try to see what makes sense
what makes sense is to wait this dip out and then buy and hold longterm

when i first heard about btc i wanted to short, but i see more potential in holding long

[windjc]

I think you should consider buying now. We are at $700 on Bitstamp.

The 200 SMA is at $425 and increasing everyday. Unless some catastrophic happens, we will not be going below that for more than a day or so worst case scenario (we haven't been below it since 2011). And within a month the 200 SMA will be at $500, so unless there is a strong immediate impulse down, the floor will be above $500 soon.

So you downside risk is probably <$200.  However, assuming you believe in the technology of bitcoin, the upside potential is massive.

Now, you have around $12k to invest. So the only reason to gamble that it goes lower is to get more coins, as they are precious.

So at $700 you can purchase 17.14, $600 gets you 20 and $500 gets you 24 coins. The difference between $700 and $600 nets you less than 3 coins, but best case scenario you get around 7 extra. Best case scenario.

Meanwhile if the market moves back to $800 you can purchase only 15 coins.

So is it worth the risk to you to wait?

I think short short term we are going to go up. Because Gox is going to open btc withdrawals again and there is going to be a spike in Gox price that will effect the other markets to some degree (not greatly, but some).

Over the next month or two, I am more bearish as we are in a period of limbo waiting for regulators to open the door for new investment vehicles and products. I think we could see low $500's.

But bitcoin could always see a large infusion of investment from somewhere unforeseen, so that is not a given either.

So you just have to measure your risk reward.

[sgbett]

@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.

The OP specifically said he isn't looking to flip it for a quick buck. I know you are still having trouble understanding how any could possibly not be a trader, but what if he just buys and holds?

If he doesn't need the cash, and is happy with the risk that it could go to zero. It's a 50/50 bet that he could get more or less by waiting. I've also plunged in headfirst at $15 and then regretted it for months as I took a *87%* haircut on capital. I've also sat on the sidelines at $5 waiting for cheaper coins, missing out on picking up hundreds more, and then regretted that forever.

12k gets about 17BTC right now. If you believe in the moon or bust theory, thats not a bad holding...