I've ALSO Given Up

[Arghhh]

You have to be a certain height to ride the Bitcoin Roller Coaster...

See all the kids who fell off the ride? Yeah, that's right, grown-ups only.

[JimboToronto]

You have to be a certain height to ride the Bitcoin Roller Coaster...

See all the kids who fell off the ride? Yeah, that's right, grown-ups only.

LOL How true. Some of the more butthurt are still picking shards of gravel out of their rear ends.

[greatway]

Don't be fooled by the price movement.  Just hold ... if you think about 1 year later... its a clear answer crypto is going to go forward.

[Nagle]

I am NOT a trader/investor at all. I have been trying to master the finance language the last few months, but I'm really just a mech. engineer who likes technology.

The Bitcoin world needs suckers like you. This is a zero-sum game; for every winner, there is a loser.

[Bazil240]

I am NOT a trader/investor at all. I have been trying to master the finance language the last few months, but I'm really just a mech. engineer who likes technology.

The Bitcoin world needs suckers like you. This is a zero-sum game; for every winner, there is a loser.

And I'm sure you were just born as the world's greatest investor... 

[Bazil240]

Great plan ...lock in your loss

And then miss the movement ....you have now created an extremely high risk strategy ...if the market zigs instead of your hoped for zag you will cop it ..

I have tried this in the past and have eaten crow on occasion  

The market is a harsh mistress and loves smashing "SMART" people into the ground.....lolz

Good luck with that

I'll assume you're speaking towards me. Not sure if you're insinuating I'm "SMART"? I never said I was smart, quite the contrary, I'm probably pretty dumb when it comes to investing/trading. And yes, what I did appears risky, but it doesn't seem that risky to me. You may have also missed the point where I plan to buy back in if it goes back up instead of down.

Believe me, it's a much better feeling to be defeated by the market for 10BTC then beeing scammed by some shitbag here for the same amount. So just take it easy and don't gamble too much.

I'll keep this mind, thanks. After the market moves (either to ~$500 or ~$300) I think I will be done for a while. The last few months have been fun and interesting, but very time consuming and even stressful at times.

[YipYip]

Great plan ...lock in your loss

And then miss the movement ....you have now created an extremely high risk strategy ...if the market zigs instead of your hoped for zag you will cop it ..

I have tried this in the past and have eaten crow on occasion  

The market is a harsh mistress and loves smashing "SMART" people into the ground.....lolz

Good luck with that

I'll assume you're speaking towards me. Not sure if you're insinuating I'm "SMART"? I never said I was smart, quite the contrary, I'm probably pretty dumb when it comes to investing/trading. And yes, what I did appears risky, but it doesn't seem that risky to me. You may have also missed the point where I plan to buy back in if it goes back up instead of down.

Believe me, it's a much better feeling to be defeated by the market for 10BTC then beeing scammed by some shitbag here for the same amount. So just take it easy and don't gamble too much.

I'll keep this mind, thanks. After the market moves (either to ~$500 or ~$300) I think I will be done for a while. The last few months have been fun and interesting, but very time consuming and even stressful at times.

I meant what i said ...Einstien may have been a terrible trader ...its more about control and paitience than anything else

I think your strategy is high risk and it would have been better to sit on your coinz ..now you are sitting and waiting with your heart pounding in your temple ...to be honest there is no right or wrong and only HIGH-MED-LOW  risk strategys (BTW crypto @ this satge of its development is never low risk )

To your credit you took the loss..good luck with what ever eventuates

[MatTheCat]

I'll assume you're speaking towards me. Not sure if you're insinuating I'm "SMART"? I never said I was smart, quite the contrary, I'm probably pretty dumb when it comes to investing/trading. And yes, what I did appears risky, but it doesn't seem that risky to me. You may have also missed the point where I plan to buy back in if it goes back up instead of down.

Beware of the Bitcoin Nutters on this forum Bazil!!!

They will do nothing but fuck you up!

I remember back around the time when I first came to Bitcoin (also my first real attempts at trading). On the eve of the Dec 17th, I had sold my Bitcoins and had buy-ins at ~$450. Not only was I "a fool for selling" but my "$400 range buy-ins would never happen". "Hell", I was told, "there are so many people queuing up to buy-in the $500-$600 range that Bitcoin was just never going to get close to there". I of course argued my case but doubt creeped in and I raised my buy-in tranches up $100. Bitcoin fell to $380, and due to my naivety in trading I panic sold at $500 taking a large loss (I had large amount of funds in Bitcoin back then).

Beware of the Bitcoin Nutter! He will offer you some of his Kool-Aid! He will demand you drink his Kool-Aid! Whatever you do, don't drink Bitcoin Nutter's Kool Aid!


Ahem....


Here is another DanV YouTube video.

https://www.youtube.com/watch?v=-cwlt-ICoC8

It is 2 hours long. I have just started watching it and am 40 minutes in. Excellent stuff. This is exactly the sort of thing I wished that I had watched back way back when I first came to Bitcoin. If you are going to invest in Bitcoin, this is well worth a couple of hours of your time.

[YipYip]

I'll assume you're speaking towards me. Not sure if you're insinuating I'm "SMART"? I never said I was smart, quite the contrary, I'm probably pretty dumb when it comes to investing/trading. And yes, what I did appears risky, but it doesn't seem that risky to me. You may have also missed the point where I plan to buy back in if it goes back up instead of down.

Beware of the Bitcoin Nutters on this forum Bazil!!!

They will do nothing but fuck you up!

I remember back around the time when I first came to Bitcoin (also my first real attempts at trading). On the eve of the Dec 17th, I had sold my Bitcoins and had buy-ins at ~$450. Not only was I "a fool for selling" but my "$400 range buy-ins would never happen". "Hell", I was told, "there are so many people queuing up to buy-in the $500-$600 range that Bitcoin was just never going to get close to there". I of course argued my case but doubt creeped in and I raised my buy-in tranches up $100. Bitcoin fell to $380, and due to my naivety in trading I panic sold at $500 taking a large loss (I had large amount of funds in Bitcoin back then).

Beware of the Bitcoin Nutter! He will offer you some of his Kool-Aid! He will demand you drink his Kool-Aid! Whatever you do, don't drink Bitcoin Nutter's Kool Aid!


Ahem....


Here is another DanV YouTube video.

https://www.youtube.com/watch?v=-cwlt-ICoC8

It is 2 hours long. I have just started watching it and am 40 minutes in. Excellent stuff. This is exactly the sort of thing I wished that I had watched back way back when I first came to Bitcoin. If you are going to invest in Bitcoin, this is well worth a couple of hours of your time.

Nigga please ...Look in the mirror for fuck sakes

Your so called sub 300 has not happended so @ this point in  time if anything you are the nutter and I am reality ..

The OP HAS taken a high risk strategy... time,patience & resolve is what is needed for profit ...being right or wrong is not the key point in this game

[sgbett]

<snip>

Beware of the Bitcoin Nutter! He will offer you some of his Kool-Aid! He will demand you drink his Kool-Aid! Whatever you do, don't drink Bitcoin Nutter's Kool Aid!

<snip>

Look in the mirror for fuck sakes

true dat. this, is right now... https://www.youtube.com/watch?v=KeuRAWSJGFY

(I am that bitcoin nutter in the chair)

[mikerbiker6]

I love seeing bitcoin on the way down, and it is not near the bottom yet.
Merchants are finally realizing the hype is over and they are not having a advantage when using bitcoin, so this disappointment causes the price to drop.
As a merchant you can accept bitcoin but you have to go through the trouble of exchanging it, withdrawing etc.


You have to ask yourself, what gives bitcoin value.
I believe it is the distributed bitcoin network, the blockchain technology and the great bitcoin community.
But do they really need a bitcoin worth 500$? Not if you use it as intermediate medium of transferring money, as most merchants do.
They don't care about the price and volatility because they don't hold bitcoin for long periods.

That means that the price can be any arbitrary non zero (positive) value.
Bitcoin can still function if it were just 1 penny.

[gentlemand]

So in that scenario if Overstock sells 20% more sheets than they expected that day the entire bitcoin market would be swallowed whole.

And if they needed to increase the number of coins to cover that extra sheet sale they could do a 51% attack with their old Atari 2600 lying around in the office.

There is a reason why a certain valuation provides utility.

[YipYip]

I love seeing bitcoin on the way down, and it is not near the bottom yet.
Merchants are finally realizing the hype is over and they are not having a advantage when using bitcoin, so this disappointment causes the price to drop.
As a merchant you can accept bitcoin but you have to go through the trouble of exchanging it, withdrawing etc.


You have to ask yourself, what gives bitcoin value.
I believe it is the distributed bitcoin network, the blockchain technology and the great bitcoin community.
But do they really need a bitcoin worth 500$? Not if you use it as intermediate medium of transferring money, as most merchants do.
They don't care about the price and volatility because they don't hold bitcoin for long periods.

That means that the price can be any arbitrary non zero (positive) value.
Bitcoin can still function if it were just 1 penny.

^^^

Has no bitcoin & wishes they where 1 penny ...

[mikerbiker6]

So in that scenario if Overstock sells 20% more sheets than they expected that day the entire bitcoin market would be swallowed whole.

And if they needed to increase the number of coins to cover that extra sheet sale they could do a 51% attack with their old Atari 2600 lying around in the office.

There is a reason why a certain valuation provides utility.

Ah, I get what you mean now.
Suppose bitcoin is at a very low value, then the total value of all bitcoins is not high enough for the bitcoin spenders/buyers to use it.
suppose a hundred people want to buy a new phone but the total value of bitcoin is only worth one phone, they cannot buy it with bitcoin all at the same time.
They could however buy it sequentially if the value is larger or equal to the value of one phone.
So if the bitcoin market grows, its value has to grow with it to support the market.

Let bitcoin go mainstream!

[Mythul]

You know, this bear market will not be forever. If you don't need the $$$ right now why sell ?

Do you think that keeping them($$$) in the bank would give you a higher profit than BTC over a year period?

[JimboToronto]

Beware of the Bitcoin Nutter! He will offer you some of his Kool-Aid! He will demand you drink his Kool-Aid! Whatever you do, don't drink Bitcoin Nutter's Kool Aid!

Look in the mirror for fuck sakes

Better a Bitcoin enthusiast than a nutbar Technical Analysis cultist.

 

[Bazil240]

I'll assume you're speaking towards me. Not sure if you're insinuating I'm "SMART"? I never said I was smart, quite the contrary, I'm probably pretty dumb when it comes to investing/trading. And yes, what I did appears risky, but it doesn't seem that risky to me. You may have also missed the point where I plan to buy back in if it goes back up instead of down.

Beware of the Bitcoin Nutters on this forum Bazil!!!

They will do nothing but fuck you up!

I remember back around the time when I first came to Bitcoin (also my first real attempts at trading). On the eve of the Dec 17th, I had sold my Bitcoins and had buy-ins at ~$450. Not only was I "a fool for selling" but my "$400 range buy-ins would never happen". "Hell", I was told, "there are so many people queuing up to buy-in the $500-$600 range that Bitcoin was just never going to get close to there". I of course argued my case but doubt creeped in and I raised my buy-in tranches up $100. Bitcoin fell to $380, and due to my naivety in trading I panic sold at $500 taking a large loss (I had large amount of funds in Bitcoin back then).

Beware of the Bitcoin Nutter! He will offer you some of his Kool-Aid! He will demand you drink his Kool-Aid! Whatever you do, don't drink Bitcoin Nutter's Kool Aid!


Ahem....


Here is another DanV YouTube video.

https://www.youtube.com/watch?v=-cwlt-ICoC8

It is 2 hours long. I have just started watching it and am 40 minutes in. Excellent stuff. This is exactly the sort of thing I wished that I had watched back way back when I first came to Bitcoin. If you are going to invest in Bitcoin, this is well worth a couple of hours of your time.

Nigga please ...Look in the mirror for fuck sakes

Your so called sub 300 has not happended so @ this point in  time if anything you are the nutter and I am reality ..

The OP HAS taken a high risk strategy... time,patience & resolve is what is needed for profit ...being right or wrong is not the key point in this game

Lol! This made me laugh, just the way you said what you said.

Why do you consider it "high" risk? Do you think $430 is/was the bottom?

[Bazil240]

You know, this bear market will not be forever. If you don't need the $$$ right now why sell ?

Do you think that keeping them($$$) in the bank would give you a higher profit than BTC over a year period?

This is a very good question and one I struggle with. And my answer right now is "I'm not sure". I could see BTC at $200-$300 more easily than $2000-$3000... am I crazy for thinking this...?

[kireinaha]

You know, this bear market will not be forever. If you don't need the $$$ right now why sell ?

Do you think that keeping them($$$) in the bank would give you a higher profit than BTC over a year period?

This is a very good question and one I struggle with. And my answer right now is "I'm not sure". I could see BTC at $200-$300 more easily than $2000-$3000... am I crazy for thinking this...?

Most people around here are high stakes gambler types, and have the stomach for such a scenario. Of course we could fall to $200-$300 range and hang there for awhile, but the consensus around here is bullish long term, so most of us don't get too worked up over it.

[MatTheCat]

Lol! This made me laugh, just the way you said what you said.

Why do you consider it "high" risk? Do you think $430 is/was the bottom?

Go and learn some TA and you will know that $430 is very likely not the bottom for this wave down. All the commonly used indicators are spelling bad news ahead for Bitcoin long positions.

Go do some Trend Based Fib Retracements on the previous few drops ($1150 to $380; $995 to $400; $710 - $340) from top, to bottom, and back up the upper reach of the bounce. Notice how the following drop stopped at around 76% ($400), notice how the next drop stopped around 62% ($340). Now go and do a Trend Based Fib Retracement on the current down wave, from the bottom at $340, to the top at $548, and see where the 50% retracement line lands.......$360?

76% - 62% - 50%  etc (being the fib retracement targets).

I would suggest that there will be a retest of $360 and probably a strong bounce around that price point, but that is not to say that $360 will be the final low, but certainly a target for a possible good short term long opportunity.

P.S. I could show you a chart of what I mean but it just looks like a bit of a fkn mess.