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Author Topic: Makes any sense to buy now?  (Read 4401 times)
Kaligulax
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February 24, 2014, 08:00:13 PM
 #41

Well price is down... i think that is good time to buy some BTC...

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kireinaha
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February 24, 2014, 08:19:28 PM
 #42

Phrases that need to be banned from bitcoin:
"Don't invest more than you're willing to lose!" - thanks dad
"Bitcoin outcome is binary, either zero or to the moon!" - ...or it could just be between $500 - $1000 for the forseeable future? i guess people just feel smart by saying this, even though it has no basis in reality.

Night gathers, and now my bitcoinwisdom watch begins.
boumalo
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February 24, 2014, 10:54:55 PM
 #43

Phrases that need to be banned from bitcoin:
"Don't invest more than you're willing to lose!" - thanks dad
"Bitcoin outcome is binary, either zero or to the moon!" - ...or it could just be between $500 - $1000 for the forseeable future? i guess people just feel smart by saying this, even though it has no basis in reality.

haha so what should we say? What is your take on this?

Let him do what he wants and don't give him advices, he is asking for some

I am sure you have good ones to give, give it a try

keithers
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February 24, 2014, 11:38:17 PM
 #44

it keeps dipping, so i keep buying some more when it feels like it has hit the bottom...but unfortunately that has happened several times over the past few weeks, so that is a lot of transactions lol
kireinaha
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February 24, 2014, 11:53:01 PM
 #45

Phrases that need to be banned from bitcoin:
"Don't invest more than you're willing to lose!" - thanks dad
"Bitcoin outcome is binary, either zero or to the moon!" - ...or it could just be between $500 - $1000 for the forseeable future? i guess people just feel smart by saying this, even though it has no basis in reality.

haha so what should we say? What is your take on this?

Let him do what he wants and don't give him advices, he is asking for some

I am sure you have good ones to give, give it a try

lol okay, my sage advice would be, buy as many as you can right now, since we're six weeks into a bear market and this is a good opportunity. buy as much as you can afford to lose, plus one or two more, but don't take any loans, since we may go down further and it could take many months to spark a rally again. i don't want to say bitcoin is a guaranteed return, but dude, come on... right?

Night gathers, and now my bitcoinwisdom watch begins.
keithers
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February 25, 2014, 12:08:16 AM
 #46

Phrases that need to be banned from bitcoin:
"Don't invest more than you're willing to lose!" - thanks dad
"Bitcoin outcome is binary, either zero or to the moon!" - ...or it could just be between $500 - $1000 for the forseeable future? i guess people just feel smart by saying this, even though it has no basis in reality.

haha so what should we say? What is your take on this?

Let him do what he wants and don't give him advices, he is asking for some

I am sure you have good ones to give, give it a try

lol okay, my sage advice would be, buy as many as you can right now, since we're six weeks into a bear market and this is a good opportunity. buy as much as you can afford to lose, plus one or two more, but don't take any loans, since we may go down further and it could take many months to spark a rally again. i don't want to say bitcoin is a guaranteed return, but dude, come on... right?

The "don't invest more than you can afford to lose" should be modified to "don't invest what you may need right back in the immediate future (1-2 months)"   If you will need immediate access back to the same amount of cash that you just purchased bitcoins with, or it will affect your life negatively if it tanks 30% in a day, then it is the wrong investment for you altogether.   You should invest in bonds, or mutual funds, or something more stable.  If you can handle the swings, and you support the ideology of it, then it is a great way to diversify your investments (with a ton of potential upside)
miketonic
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February 25, 2014, 12:28:35 PM
 #47

Phrases that need to be banned from bitcoin:
"Don't invest more than you're willing to lose!" - thanks dad
"Bitcoin outcome is binary, either zero or to the moon!" - ...or it could just be between $500 - $1000 for the forseeable future? i guess people just feel smart by saying this, even though it has no basis in reality.
Actually I think that should be emphasized to people. I've seen some threads about people complaining how they lost their savings because the value of BTC has dropped so much. As long as this is a public forum where most of the beginners come looking for help and knowledge, we should provide them also the most basic things about investing.
murkster
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February 25, 2014, 01:08:32 PM
 #48

Its all speculation at the end of all the analysis. Anything can and does happen.

The choice is yours, educated investment with a plan, you cant do any more... :/

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pleiotropik
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February 25, 2014, 01:16:40 PM
 #49

I have been putting 10% of my savings in BTC ever since it first hit $40 back in march 2013. Will keep putting 10% in, simple as that. Much better than any IRA or Myra (chuckles welcome). If you try to "game the system" and trade the ups and downs remember you are playing in a field filled with pros who use bot-traders and have insanely high IQ's... if you belong to that club, congratulations. if not, tread carefully imagining you are "What's for dinner" of the veterans.  Grin
boomertoo
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February 25, 2014, 01:21:35 PM
 #50

i am buying every 50 lower , the dreaded  averaging in technique.
miketonic
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February 25, 2014, 01:27:36 PM
 #51

I have been putting 10% of my savings in BTC ever since it first hit $40 back in march 2013. Will keep putting 10% in, simple as that. Much better than any IRA or Myra (chuckles welcome). If you try to "game the system" and trade the ups and downs remember you are playing in a field filled with pros who use bot-traders and have insanely high IQ's... if you belong to that club, congratulations. if not, tread carefully imagining you are "What's for dinner" of the veterans.  Grin
That is a very good method! That way you avoid buying high and selling low Smiley
pleiotropik
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February 25, 2014, 01:56:59 PM
 #52

One more thing: With BTC, YOU are the bank. as an individual you must do what you expect the bank to do for you: due diligence in security matters, distribution of funds across different platforms to minimize risk etc. i have lost some funds for the simple reason that some platforms failed (MTGOX lost me 0.6btc but i have lost more elsewhere).

If you can't trust yourself, go to a bank. they'll keep your money safe for you until one day they will go the south park route: "...Aaaand it's gone"

In other words: be reasonably paranoid, it pays.
Explodicle
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February 25, 2014, 03:36:03 PM
 #53

Phrases that need to be banned from bitcoin:
"Don't invest more than you're willing to lose!" - thanks dad
Actually I think that should be emphasized to people. I've seen some threads about people complaining how they lost their savings because the value of BTC has dropped so much. As long as this is a public forum where most of the beginners come looking for help and knowledge, we should provide them also the most basic things about investing.
I have been putting 10% of my savings in BTC ever since it first hit $40 back in march 2013. Will keep putting 10% in, simple as that. Much better than any IRA or Myra (chuckles welcome). If you try to "game the system" and trade the ups and downs remember you are playing in a field filled with pros who use bot-traders and have insanely high IQ's... if you belong to that club, congratulations. if not, tread carefully imagining you are "What's for dinner" of the veterans.  Grin
That is a very good method! That way you avoid buying high and selling low Smiley

+1 for each. For what it's worth these are the only Bitcoin investment suggestions I actually listened to, I'm happy with the result, and it has given me balls of steel during the latest crash. If anything should be purged from our vocabulary it should be "stop loss"; selling low because you have reason to be afraid.
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