It's hard to define the very bottom until it happens. I studied the Gox charts and found multiple EW capitulation patterns
from April until July (final capitulation IMO), from the bubble spike and from other aborted bubbles.
Maybe a new term should be invented for these partial capitulations, until then I'm going to call each a capitulation.
I know some of you dislike the 'misuse' of the term, but I don't have a better one.
Topic: Am I the only one who feels relieved when the price goes down? (Read 4262 times)
November 20, 2013, 06:32:07 AM
I am a bit nervous about the way the price goes down, it starts to look erratic on Gox IMO.
I placed my buy order ay 80$, just in case there's a 100k dump till morning, so I can sleep well.
I placed my buy order ay 80$, just in case there's a 100k dump till morning, so I can sleep well.
Did you expect it to go down in an orderly manner? Lol
If you would have looked at the charts from April and June, then you would know that Gox
performs capitulation in a certain manner, with certain wave shapes. I studied them, but these new ones look erratic.
"Capitulation" means "surrender". As in, completely broken, no will to live any more. Finally give in and sell despondently. It refers to the very bottom. It's misused on this forum.
November 20, 2013, 06:29:29 AM
I m referring to those talking things like "900 was the right price to sell".
No kidding.
I mean that they are saying that only after the crash happened
What, you expect us to say what we're going to do before we do it? That's stupid. It's more fun to wait and say what we did after everyone else starts panicking, that way we get to watch them get angry at us. It's hilarious. No kidding.
I mean that they are saying that only after the crash happened
No, he's saying you're full of shit and I agree
November 20, 2013, 01:20:18 AM
I m referring to those talking things like "900 was the right price to sell".
No kidding.
I mean that they are saying that only after the crash happened
What, you expect us to say what we're going to do before we do it? That's stupid. It's more fun to wait and say what we did after everyone else starts panicking, that way we get to watch them get angry at us. It's hilarious. No kidding.
I mean that they are saying that only after the crash happened
November 20, 2013, 12:01:36 AM
I am a bit nervous about the way the price goes down, it starts to look erratic on Gox IMO.
I placed my buy order ay 80$, just in case there's a 100k dump till morning, so I can sleep well.
I placed my buy order ay 80$, just in case there's a 100k dump till morning, so I can sleep well.
Did you expect it to go down in an orderly manner? Lol
If you would have looked at the charts from April and June, then you would know that Gox
performs capitulation in a certain manner, with certain wave shapes. I studied them, but these new ones look erratic.
November 19, 2013, 11:53:40 PM
Remember the saying: Bulls make money, bears make money, pigs get slaughtered!
What about those who bought a while ago and now just sit back and watch. Are they making money?
November 19, 2013, 11:34:18 PM
People in this forum know exactly when to sell and when to buy. That is only AFTER a crash or AFTER a meteoric rise of course
You mean DURING, not AFTER. DURING a crash is exactly when to buy, and DURING a meteoric rise is exactly when to sell. That's why I sold at $857. Easy money. 
I m referring to those talking things like "900 was the right price to sell".
No kidding.
I mean that they are saying that only after the crash happened
November 19, 2013, 11:00:48 PM
People in this forum know exactly when to sell and when to buy. That is only AFTER a crash or AFTER a meteoric rise of course
You mean DURING, not AFTER. DURING a crash is exactly when to buy, and DURING a meteoric rise is exactly when to sell. That's why I sold at $857. Easy money. November 19, 2013, 10:58:13 PM
$900 Happened when i was sleeping. Didnt have any chance to sell and buy at the dip after that. Not very happy
November 19, 2013, 10:24:24 PM
People in this forum know exactly when to sell and when to buy. That is only AFTER a crash or AFTER a meteoric rise of course
November 19, 2013, 10:18:48 PM
Missed my boat because of greed. Got down to $530 on CAVirtex....now $610. FML. Wait for the next dip I guess?
November 19, 2013, 10:17:52 PM
And not only that, if they tax my gains, then all my mining gear and electricity and part of my mortgage (space) is now a tax deduction, thank you very much.
Now if only we had some kind of bitcoin-like ledger to manage and track all our deductions
Ha ha. We do (sort of). MS Excel.
November 19, 2013, 10:07:34 PM
My primary source of income at the moment is government money, and I don't spend much, so all I can think is "sweet, cheap Bitcoin".
What cheap? The all time high on gox 48hours ago was 550. No we are above 600$. Define "cheap"
November 19, 2013, 10:04:46 PM
I feel relieved when things like the Silk Road 'crash' happen. I.e, when a selloff happens but people eagerly prop the price up again. Basically, August/September were my dream months. Ok, October & November (up until yesterday) were dreamy as well, but from a pocketbook perspective, as opposed to maybe-I'll-sleep-a-bit perspective.
November 19, 2013, 09:54:45 PM
And not only that, if they tax my gains, then all my mining gear and electricity and part of my mortgage (space) is now a tax deduction, thank you very much.
Now if only we had some kind of bitcoin-like ledger to manage and track all our deductions
November 19, 2013, 09:46:17 PM
$720 for me. I need $344 to double up my coins. I don't mind if it dips below $300, I'll still buy right at $344..double coins makes me happy either way.
Well...not quite double for free. Bitcoin regulation is well on its way and uncle sam (or other tax authority) will want to capture your gains on that sale at $720. Bitcoin will be quite traceable and I suspect audits will come down the line for anyone reporting gains in bitcoins in 5 years or so. So you'll get double coins but probably a small tax bill to make up for it.
It's not all bad news though. Ask your landlord (if you have one, for instance) if he/she will accept rent in bitcoins, and buy the difference of bitcoins in your rent. That way, your "new" bitcoins will get taxed against that rate, instead of the cheaper rate. I think that's excellent motivation to spur the adoption of bitcoins
And not only that, if they tax my gains, then all my mining gear and electricity and part of my mortgage (space) is now a tax deduction, thank you very much.
Haven't mined since summer 2011, but maybe I should let a GPU run for the deduction.
November 19, 2013, 09:44:53 PM
$720 for me. I need $344 to double up my coins. I don't mind if it dips below $300, I'll still buy right at $344..double coins makes me happy either way.
Well...not quite double for free. Bitcoin regulation is well on its way and uncle sam (or other tax authority) will want to capture your gains on that sale at $720. Bitcoin will be quite traceable and I suspect audits will come down the line for anyone reporting gains in bitcoins in 5 years or so. So you'll get double coins but probably a small tax bill to make up for it.
It's not all bad news though. Ask your landlord (if you have one, for instance) if he/she will accept rent in bitcoins, and buy the difference of bitcoins in your rent. That way, your "new" bitcoins will get taxed against that rate, instead of the cheaper rate. I think that's excellent motivation to spur the adoption of bitcoins
And not only that, if they tax my gains, then all my mining gear and electricity and part of my mortgage (space) is now a tax deduction, thank you very much.
November 19, 2013, 09:43:57 PM
$720 for me. I need $344 to double up my coins. I don't mind if it dips below $300, I'll still buy right at $344..double coins makes me happy either way.
Well...not quite double for free. Bitcoin regulation is well on its way and uncle sam (or other tax authority) will want to capture your gains on that sale at $720. Bitcoin will be quite traceable and I suspect audits will come down the line for anyone reporting gains in bitcoins in 5 years or so. So you'll get double coins but probably a small tax bill to make up for it.
It's not all bad news though. Ask your landlord (if you have one, for instance) if he/she will accept rent in bitcoins, and buy the difference of bitcoins in your rent. That way, your "new" bitcoins will get taxed against that rate, instead of the cheaper rate. I think that's excellent motivation to spur the adoption of bitcoins
Uncle Sam can kiss my ass....I live in Canada.
November 19, 2013, 09:42:04 PM
Relieved the price is going down = you might not have enough Bitcoins.
Relived the price is going up = you might have too many Bitcoins.
Bitcoin goes up and down $300 in one day and you say "meh" = you might have the right amount of Bitcoins.
Relived the price is going up = you might have too many Bitcoins.
Bitcoin goes up and down $300 in one day and you say "meh" = you might have the right amount of Bitcoins.
LOL, this is the most insightful thing I've read in the spec forum for a loooong time.
November 19, 2013, 09:40:06 PM
$720 for me. I need $344 to double up my coins. I don't mind if it dips below $300, I'll still buy right at $344..double coins makes me happy either way.
Well...not quite double for free. Bitcoin regulation is well on its way and uncle sam (or other tax authority) will want to capture your gains on that sale at $720. Bitcoin will be quite traceable and I suspect audits will come down the line for anyone reporting gains in bitcoins in 5 years or so. So you'll get double coins but probably a small tax bill to make up for it.
It's not all bad news though. Ask your landlord (if you have one, for instance) if he/she will accept rent in bitcoins, and buy the difference of bitcoins in your rent. That way, your "new" bitcoins will get taxed against that rate, instead of the cheaper rate. I think that's excellent motivation to spur the adoption of bitcoins
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