Gradual buy explained(short link:
http://bit.ly/gradual-buy-sell-bc)
I just turned 38 today (technically, in 9 hours). BC si a nice Birthday gift
I am using IconicExpert's method of slow buying atm. I invest 0.01 BTC at a time. I lose money in the short term but it will help blackcoin in the long term. Do like me. IconicExpert or others, please restate your method, it is too painful for me to do it on a smartphone.
Would you mind explaining what this method is ?
Now that I have a computer again, yes
Say you have 1 BTC. Instead of putting a buy order at market price (or lower), place, say, ten 0.1 BTC orders either at market price.
An improvement if you use a platform the allows conditionnal orders (like stop orders at
https://cryptrader.com/ - beware, it won't work with Mintpal because Mintpal has not published its API yet):
place your ten 0.1 BTC order not at market price but at slightly above market price instead.
For instance, if BC is at 8800
Buy order of 0.1 BTC at 8820, 8840, 8860... and the tenth one at 8900.
Granted, you lose two times in the short term: the first time because you buy at market price instead of taking advantage of an occasional drop (e.g. buy orders at 7500) and a second because instead of buying all at once at market price, you actually buy at a more expensive price! This would appears as masochistic to a short-terme trader. But if you're in for the long run, you actually send a signal to everyone: "prices are constantly raising, be confident, no pump and dump, no scam, put your money in everyone".
As IconicExpert said, if people used gradual buy, the price would not be a 8000 now, it would at 9000 or even higher. Your short term losses are more than compensated then.
I call this
gradual buy.
The reverse is true too (and this was the topic of the original IconicExpert's post): if you want to cash in without hampering the price of BC, don't sell at "lowest sell price minus 1 satoshi". Sure, you won't instant sell you will have to wait... some seconds to some minutes. I you cannot wait some more seconds, I think you have some serious questions to ask about yourself.
There is two conditions for gradual buying to succeed:
1. To be patient (wait some minutes). Having a stop order-compatible platform helps
2. To have a lot of people do it (that's the tough part)
I hope it is clear for you now. If you wan't more money, use gradual buying.
? (there is only 75m all....+1% year inflation)
