Topic: Anyone else bought high? Worried? Still holding strong? (I bought in at $1080) - page 2. (Read 3875 times)
December 18, 2013, 04:20:14 PM
One bit of trading advice. If you bought higher than the present value you may want to consider holding. Unlike a company stock bitcoin does not need your money and can withstand wild swings. It wont drop to zero unless it is truly broken. If you sell for less than you paid you are locking in your loss. Considering bitcoin has historically lost 70-80%+ then recovered, your chance of realizing the price you paid is very real. All this assumes you are risking money you do not need. Which is all you should be speculating with anyway.
December 18, 2013, 04:15:53 PM
Hmm some should read the "hodling" topic.
I bought 2 coins at 120, then 3 at 230, then 2 at around 900.
Would do again.
I bought 2 coins at 120, then 3 at 230, then 2 at around 900.
Would do again.
December 18, 2013, 04:15:40 PM
Buy high, sell low! It is the perfect plan!
You doing it wrong
December 18, 2013, 04:12:57 PM
Buy high, sell low! It is the perfect plan!
December 18, 2013, 04:04:24 PM
I am worried we are holding the derp bag.
December 18, 2013, 04:03:03 PM
We'll hit 2k soon 
I wouldn't be worried about holding $1080 coins.
I wouldn't be worried about holding $1080 coins.
Not sure if soon, but probably late next year if the long trend is right
December 18, 2013, 03:51:10 PM
We'll hit 2k soon
I wouldn't be worried about holding $1080 coins.
I wouldn't be worried about holding $1080 coins.
December 18, 2013, 03:45:40 PM
The easiest investment is to buy bitcoins to invest in a bitcoin ASIC miner. You'll break even in about 3 months.
You may receive the ASIC miner in 3 months if lucky, but you never mine the Bitcoins back, unless you find person selling the ASIC miner extremly cheap December 18, 2013, 03:30:11 PM
I bought all my Bitcoins at $1050 on Coinbase. A few days later the "China Announcement" was released, I was still awake at 4 am and saw the announcement 1 minute after it was released. Knowing the value was going to plummet fast, I logged into Coinbase to sell my coins before they started dropping. However, despite taking the money out of my bank account days prior, Coinbase hadn't actually given me my Bitcoins yet. So all I could do is watch in horror as the price crashed from $1200 to $500 before Coinbase finally gave me the coins.
Since then I've tried to buy more coins at the bottom of the two latest crashes, but despite coming out of the same bank account as my 1st purchase, Coinbase keeps cancelling them for being "high risk". *which is absurd, my credit score is over 800 and I've never cheated a single person out of $1 in my entire life*
Coinbase is the ultimate scam, as of last week they have cost me $4,000, and as of this week almost $8,000. They've left a bitter taste in my mouth, I am about done over the whole Bitcoin craze. I think at this point I'm going to hope they get back up to the $1,000 range, so I can sell and go do something else with my money.
Just hang in there.Since then I've tried to buy more coins at the bottom of the two latest crashes, but despite coming out of the same bank account as my 1st purchase, Coinbase keeps cancelling them for being "high risk". *which is absurd, my credit score is over 800 and I've never cheated a single person out of $1 in my entire life*
Coinbase is the ultimate scam, as of last week they have cost me $4,000, and as of this week almost $8,000. They've left a bitter taste in my mouth, I am about done over the whole Bitcoin craze. I think at this point I'm going to hope they get back up to the $1,000 range, so I can sell and go do something else with my money.
I'm not worried at all. Bitcoin will be at several thousand dollars by next summer. You'll regret it if you sell out in the 1,000 range.
There are, IMO, two reasons for volatility.
1. There are still people with thousands of bitcoins that attained them with minimal effort. These individuals
can still have a big impact on the market when they sell off.
2. It remains difficult to buy bitcoins, especially when the prices are dropping.
Both of these problems will gradually evaporate with time.
You need to also consider that it costs about $700-750 to mine one bitcoin. Thus, bitcoin is currently way undervalued. Those who are selling now are just individuals in panic mode... And that will not last. I expect another 24 hours or so of volatility... Then the price will start marching up.
December 18, 2013, 03:08:15 PM
The best way to make money mining is to make your own coin
https://bitcointalksearch.org/topic/m.4021727
https://bitcointalksearch.org/topic/m.4021727
There are already at least 20 other cryptocurrencies, with just number changes and variable changes in the original code of bitcoin or litecoin.
Many new ones now will not gain popularity unless it has support, credability and uniqueness.
Most coins have no reason to exist If you made a coin with your city, school, team or group theme it would automatically make more sense than most of the coins people are already spending thousands of dollars on
December 18, 2013, 03:03:24 PM
Though not a newbie, been watching Bitcoin for more than two years, I last bought at 1060 to get some altcoins. I would not be worried at all, just wait.
December 18, 2013, 03:00:05 PM
Any other newbies out there that bought high and have still held strong?
I truly believe that cryptocurrencies are the way of the future, and that in all likelihood, Bitcoin will be the one to rule all, but I have to say, these recent developments and subsequent crashes have me a little worried.
I'm sure some will take advantage and cultivate the fear here by posting some FUD, but any positive comments would be much appreciated!
Do you think we have reached the low yet?
Do you think we can recover from this? Even without the large chunk of daily trades that China brought to the table?
I truly believe that cryptocurrencies are the way of the future, and that in all likelihood, Bitcoin will be the one to rule all, but I have to say, these recent developments and subsequent crashes have me a little worried.
I'm sure some will take advantage and cultivate the fear here by posting some FUD, but any positive comments would be much appreciated!
Do you think we have reached the low yet?
Do you think we can recover from this? Even without the large chunk of daily trades that China brought to the table?
just hang on buddy.
check out my pages, it will help you through this btc madness...
https://twitter.com/100KBTC
or just search us 100KBTC
Like us on Facebook too!
https://www.facebook.com/100KBTC
December 18, 2013, 02:58:13 PM
I bought all my Bitcoins at $1050 on Coinbase. A few days later the "China Announcement" was released, I was still awake at 4 am and saw the announcement 1 minute after it was released. Knowing the value was going to plummet fast, I logged into Coinbase to sell my coins before they started dropping. However, despite taking the money out of my bank account days prior, Coinbase hadn't actually given me my Bitcoins yet. So all I could do is watch in horror as the price crashed from $1200 to $500 before Coinbase finally gave me the coins.
Since then I've tried to buy more coins at the bottom of the two latest crashes, but despite coming out of the same bank account as my 1st purchase, Coinbase keeps cancelling them for being "high risk". *which is absurd, my credit score is over 800 and I've never cheated a single person out of $1 in my entire life*
Coinbase is the ultimate scam, as of last week they have cost me $4,000, and as of this week almost $8,000. They've left a bitter taste in my mouth, I am about done over the whole Bitcoin craze. I think at this point I'm going to hope they get back up to the $1,000 range, so I can sell and go do something else with my money.
Since then I've tried to buy more coins at the bottom of the two latest crashes, but despite coming out of the same bank account as my 1st purchase, Coinbase keeps cancelling them for being "high risk". *which is absurd, my credit score is over 800 and I've never cheated a single person out of $1 in my entire life*
Coinbase is the ultimate scam, as of last week they have cost me $4,000, and as of this week almost $8,000. They've left a bitter taste in my mouth, I am about done over the whole Bitcoin craze. I think at this point I'm going to hope they get back up to the $1,000 range, so I can sell and go do something else with my money.
What's the CoinBase bank?
December 18, 2013, 02:53:42 PM
The easiest investment is to buy bitcoins to invest in a bitcoin ASIC miner. You'll break even in about 3 months.
December 18, 2013, 02:48:09 PM
One strategy is to buy in thirds...
Example: If you wanted in with $10,000 when it was at $1000, then you should have only bought 3.333 @ $1000... now you might have ended up seeing your next threshold as $1200 hit and buying more (2.777 @ $1200), but then you would have still had money left over in the $600 range (5.556) to buy more and your average cost (~$857) would be lower.
It certainly can help, especially if you buy and then immediatley see a large crash. Like if you were to have bought your first third in the $800 range on the down-slope, and then ended up seeing sub-$500 last night and getting more.
Example: If you wanted in with $10,000 when it was at $1000, then you should have only bought 3.333 @ $1000... now you might have ended up seeing your next threshold as $1200 hit and buying more (2.777 @ $1200), but then you would have still had money left over in the $600 range (5.556) to buy more and your average cost (~$857) would be lower.
It certainly can help, especially if you buy and then immediatley see a large crash. Like if you were to have bought your first third in the $800 range on the down-slope, and then ended up seeing sub-$500 last night and getting more.
December 18, 2013, 02:41:54 PM
The USD's most important risk factor are tapering concerns.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
You are making a very big assumption... That Bitcoin itself can be considered stable ground with a stable value that will reflect in changing price as fiat currencies are debased.
That's a pretty large leap of faith.
I was talking about the USD relation alone.
December 18, 2013, 02:35:24 PM
The USD's most important risk factor are tapering concerns.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
You are making a very big assumption... That Bitcoin itself can be considered stable ground with a stable value that will reflect in changing price as fiat currencies are debased.
That's a pretty large leap of faith.
(The word on gold is that an ounce of gold has always been about the right price for a gentleman's suit. You could dress up for it in Ancient Rome, and you can dress up for the same amount of gold in XXI. century New York. It's not entirely exact, but mostly it stands true. That's why you can speculate with gold against money supply - even though irregularities happen, like what happened in the last few years. However, Bitcoin has no agreed upon value. Over the last few years, a Bitcoin could buy anything from a can of Coke to a used car.)
December 18, 2013, 02:29:00 PM
The best way to make money mining is to make your own coin
https://bitcointalksearch.org/topic/m.4021727
https://bitcointalksearch.org/topic/m.4021727
There are already at least 20 other cryptocurrencies, with just number changes and variable changes in the original code of bitcoin or litecoin.
Many new ones now will not gain popularity unless it has support, credability and uniqueness.
December 18, 2013, 02:23:55 PM
The best way to make money mining is to make your own coin
https://bitcointalksearch.org/topic/m.4021727
https://bitcointalksearch.org/topic/m.4021727
December 18, 2013, 02:22:07 PM
The USD's most important risk factor are tapering concerns.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
If QE remains then you should see BTC going back up with a weaker dollar.
Also vice versa, lower bitcoins with more faith in the dollar.
Start thinking about the bigger picture when you want to play cryptocurrencies.
If the Eurozone of US show signs of weakness in their currency, albeit anything really -- btc's value will go up.
A good way to keep track of US dollar's trend is by looking at the Dollar Index vs. 6 major currencies.
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