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del
October 08, 2011, 08:39:56 PM
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del

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October 08, 2011, 08:48:48 PM
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interesting! so do you do the same or similar when selling and how do you manage sudden price drops?

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October 08, 2011, 09:02:46 PM
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My strategy so far has been to stay on the sidelines.  Haven't regretted it, so far. Smiley
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October 08, 2011, 10:54:41 PM
 #4

I invest my BTC in USD.  I'm getting 1500% ROR over the last few months!

It's my opinion that the BTCs fundamentals are still in the low-cents range, and even with rampant speculation to support the price it's still going under a buck.  I'm a total bear.  Smiley

So, to answer your question: Unless you need to spend them now, the cheapest BTCs are the ones you buy in the future.

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October 09, 2011, 06:00:32 PM
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I use about the same routine. I set a bid a bit below the current level and just wait until it gets filled. Which can take a week or more. Once that gets filled then I make a new, lower bid. All the time I keep a part of my cash free for a steep drop in price.

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October 10, 2011, 02:22:00 AM
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How about buy goods locally that are cheap and then sell them for bitcoin?  You'll end up paying much much less than market price that way.
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October 12, 2011, 04:38:51 AM
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How about buy goods locally that are cheap and then sell them for bitcoin?  You'll end up paying much much less than market price that way.
i sent a GPU that was broken back tot he provider it cost me 24€(was inside EU) said GPU cost me 112€, shipping tax cost me 20% of the item value
do you really believe i can send good overseas at a competitive price and i have to tank the VAT, that will kill my margins



how about ... next time you wont make a off topic reply  Grin Grin Grin

I don't think my reply was off-topic.  Last time I bought BTC for cash was around $0.60.  Since then all the BTC I've gotten is through commerce and I've accumulated 5 times what I had to start with selling some along the way.  Obviously you can't choose goods that are already overpriced and overtaxed in your locality.  You gotta be wise about it and I'm sure you could find something to buy cheap and sell high.  It's an axiomatically derived theorem in economics that every place and every person has to have a relative advantage in producing SOME good.  At the same time you'll be benefiting the bitcoin community by adding value to the "real" economy beyond simply currency exchange/speculation.

PS:  If you're looking to just exchange cash for bitcoins then you can buy them from me for a pretty nice discount, hint, hint.
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October 12, 2011, 09:54:46 PM
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Whoa, I noticed a steep shart price this morning at about 1am GMT.
My buy order which was quite low ($3.5) got filled.
What happened?

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October 13, 2011, 03:58:06 PM
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do u know how VAT works ? every single service and product have a VAT so all stuff is overtaxed

Not exactly.  Here we have a sales tax but everyone evades it.  Do you really pay VAT on everything? 
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