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Author Topic: It's called a correction (waveaddict's bitcoin charting subscription thread)  (Read 86795 times)
Otoh
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February 29, 2012, 10:07:01 PM
 #461

there has always and will always continue to be a 'natural' demand for certain items including gold but you have to ask yourself what the price of gold would be without all of the speculation and performance chasing. Take oil for instance, there was no way that the value of oil would have flown from $100 to $150 a barrel right before crashing down to $40 back in 2008 if speculation did not have a huge part in the run-up. Yet, during that run-up everyone was saying that oil would never go down since the oil demand will keep going up while supply would keep going down. No one even considered that the world economy would crash and destroy demand. Now you see the same thing with gold; everyone just assumes that gold demand will keep going up because they rationalized it to themselves the same way that we did with oil; demand and price keep going up therefore both will always go up. But, think to yourselves if the world economy crashed again; even Indians would be buying food and other necessary items rather than gold. The worst mistake that you can make in the investment world is thinking that a certain trend will last forever just because it is happening now.



gold down nearly 5% today ~ nice call

edit: assuming those are London Good Delivery bars @ 12.5Kg each, then that's about $34,000 per brick minus - ouch  Sad


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waveaddict
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February 29, 2012, 10:19:31 PM
 #462

 Smiley ok guys today's email has been sent...well the two, but the second one is just a revision since (61) and (62) were a little small in the first one I sent out

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February 29, 2012, 10:43:56 PM
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It sure is slow around here.  Undecided

yep & I thought that pirate was going to come out & play today too  Undecided

maybe later  Tongue

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March 01, 2012, 12:16:34 AM
 #464

Meh, Im out on bitcoinica..  sucking it up and taking my loss


I cant see it doing anything but go down...  Sad

Specially for this being wednesday, and no movement happened...


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waveaddict
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March 01, 2012, 12:32:24 AM
 #465

watch the levels I mentioned in the email for today if you wanted to get back in...whether that is long or short depending on the break.

Meh, Im out on bitcoinica..  sucking it up and taking my loss


I cant see it doing anything but go down...  Sad

Specially for this being wednesday, and no movement happened...



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March 01, 2012, 01:17:41 AM
 #466

btw, this also means the market will now move up..


Your welcome everyone... 

The best advice out there would be to do the opposite of me.. Smiley

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pirateat40
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March 01, 2012, 02:25:28 AM
 #467

btw, this also means the market will now move up..


Your welcome everyone... 

The best advice out there would be to do the opposite of me.. Smiley


Duly noted.

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March 01, 2012, 03:16:44 AM
 #468

btw, this also means the market will now move up..


Your welcome everyone... 

The best advice out there would be to do the opposite of me.. Smiley


Duly noted.

Your little buy there only spiked more sells.. lol  Wink

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March 01, 2012, 03:18:16 AM
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btw, this also means the market will now move up..


Your welcome everyone... 

The best advice out there would be to do the opposite of me.. Smiley


Duly noted.

Your little buy there only spiked more sells.. lol  Wink

Thank goodness.
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March 01, 2012, 03:37:03 AM
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check your email, subscribers   Smiley

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March 01, 2012, 03:56:39 AM
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check your email, subscribers   Smiley

Laying it out in laymans terms, love it Smiley

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waveaddict
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March 01, 2012, 04:01:04 AM
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I'm here to please  Wink

check your email, subscribers   Smiley

Laying it out in laymans terms, love it Smiley

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March 01, 2012, 09:33:13 AM
 #473

Thanks for the answer with regard to dollar deflationary effects on Bitcoin. I’m interested in how you would answer another question of mine. Grin

Do you believe it is foolish to take profits in BTC rather than USD? In other words, to view the bitcoins as the money and dollars the asset? Does it even matter as long as you stick to one strategy over the long run?

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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March 01, 2012, 09:36:57 AM
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Thanks for the answer with regard to dollar deflationary effects on Bitcoin. I’m interested in how you would answer another question of mine. Grin

Do you believe it is foolish to take profits in BTC rather than USD? In other words, to view the bitcoins as the money and dollars the asset? Does it even matter as long as you stick to one strategy over the long run?

Which do you believe will hold value better over the long term?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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Blitz­
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March 01, 2012, 09:40:07 AM
 #475

The Bitcoins, obviously, but that can a) be very very long-term and b) Bitcoin has no 100% chance of success.

Obviously you would want to protect yourself from what happened June to November, for example. Bitcoin lost 94% of its value over this period, whereas the USD maybe did so in a century.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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March 01, 2012, 09:49:59 AM
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The Bitcoins, obviously, but that can a) be very very long-term and b) Bitcoin has no 100% chance of success.

Obviously you would want to protect yourself from what happened June to November, for example. Bitcoin lost 94% of its value over this period, whereas the USD maybe did so in a century.

Indeed... I watched it happen.  I've been bitcoining for over a year now.  Personally, I take individual profits as BTC, but I occasionally diversify first to cash, then to stocks and PMs.  Ideally, I diversify when Bitcoin is high and what I am short on is low.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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realnowhereman
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March 01, 2012, 10:09:55 AM
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Personally I'm happy to hold either BTC or USD at this point; but with the long term aim of having as many BTC as possible.

If I am interested in predictions and technical analysis it is only so that during huge devaluations like last year I can get more bitcoins.  Not dollars.

If I had to stop trading today and were allowed one last change (this is a stupid hypothetical, I know), I'd convert to BTC, extract them to my personal wallet and sit on them for 10 years.

I am working on the assumption that bitcoins are going to be worth $1,000 each one day.  Assuming I've invested all I can afford, then the tool for getting more bitcoins is trading them up and down while they are so cheap.  If my assumption is correct then every one bitcoin I can make now is $1,000 in the future.  That assumption might be wrong; but it's what I work to.

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March 01, 2012, 11:13:15 AM
 #478

Personally I'm happy to hold either BTC or USD at this point; but with the long term aim of having as many BTC as possible.

If I am interested in predictions and technical analysis it is only so that during huge devaluations like last year I can get more bitcoins.  Not dollars.

If I had to stop trading today and were allowed one last change (this is a stupid hypothetical, I know), I'd convert to BTC, extract them to my personal wallet and sit on them for 10 years.

I am working on the assumption that bitcoins are going to be worth $1,000 each one day.  Assuming I've invested all I can afford, then the tool for getting more bitcoins is trading them up and down while they are so cheap.  If my assumption is correct then every one bitcoin I can make now is $1,000 in the future.  That assumption might be wrong; but it's what I work to.

good point.. See, how people react! people, who have not heard about bitcoin .. This - the financial revolution. ("pied piper coinabul" thread..)

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waveaddict
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March 01, 2012, 07:15:55 PM
 #479

today's email has been sent  Smiley

teflone
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March 02, 2012, 01:59:04 AM
 #480

Major hacks today.. bitcoinica and Slush..  hosting provided by Linode have a security hole to patch somewhere..

This can only mean one thing......


We's going down  Sad

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