Topic: Are people supposed to take huge risks for BTC? (Read 1428 times)

It is all about market psychology

Personally, I have taken alot of risks with Bitcoin. It's the first or second time I have given my banking information out online besides to setup PayPal. (I just use PayPal for everything)

the smart ones invsted what they could afford to loose... and made a crap load..

the not as smart ones invested more than they could afford, and lost.

but ya I remember (as many many do) when price was $3 which alot of people, myself included thought was high.
then it went to 5, 8, 30.. and everyone thought it was to late to get involved... $100.. definetly to late to get involved....
250$ everyone was like its 100% definitely to late to get involved.. etc etc till $1400.... so ya, no one knows.. except those pychic ones...
once I loate them I shall keep them in my basement... 

People are not required to do anything dealing with bitcoin. No one is forcing you to invest in it.

There are many of us who are taking big risks hoping to increase their investments up to tenfold. THe thing that people fail to realize is that nothing is going to happen overnight...so when you have a new BTC investor drop $650 per coin,  then suddenly it drops to $560 within 48 hrs and freaks out, then they didn't know what they were doing.

If you're going to invest in BTC, the best way is to do it long-term..Day trading just adds even more risk, to the 'gamble'..and of course, try and spend some BTC once in a while. 

This isn't a popular opinion, but I'd like to offer it: Don't treat Bitcoin like a commodity. If all you do is buy/sell it for profit, you're working against its proper use (i.e. as a store of value, rather than an investment).

Ok firstlet me mention to you I am a forex trader, and the sources you look to get your information from will not work, Stocks are manipulated, and foreign exchange is both colluded and manipulated, so trying to use the stock market and trading is not how you wcan or will find reputable information on bitcoins. Firstly because the people running the show in stocks and forex will lead you astray, they cant get into bitcoin without paying for it, those guys have never worked a day in their life, they have traded, manipulated and colluded their way to riches, and in the bitcoin world that shit just dont work, therefore they will tell you, its gonna fail, it will never hold up, they want you to invest your money in their market so they can legally steal it.

there are ways to get into the bitcoin world "Right Now" that are not so risky, it involves endless hours of work, and determination, but those who really want to get involved and get started still have a chance to do so.

to be honest yu seem like a person who wants to get involved in what would be a long term long position, meaning you seem to be thinking of buying some bitcoins and holding them until the value increases to a place you can sell them, as a trader myself of foreign currencies this is not the time for that for 2 reasons. In my book I am a scalper who looks for quick profits in currency trading all day long, so buying a currency at its lower high is very risky, and the 600+ mark of this currency is its lower highs. I would never buy here, this market has no plausible fundamental factors right now its not old enough and has had to many negative contributing factors to give you a good fundamental analysis. and the second best reason not to buy now is for the price of 1 coin you could invest in minimum 2 S1 Antminers and join a pool and make out better for yourself.

So my advice to you, dont try and compare or get information on a currency that is neither centralized or regulated by the big banks with industries that are regulated, centralized manipulated and colluded by big banks. take you money you want to invest and get ito mining while you still can. You will find with enough research many things about this industry can be misleading, like the consistent degradation of solo mining, "Dont do it" "its useless" dont believe them the 3rd largest findings of coins in blocks goes to Unknown resources not a pool, the third on the list are all those people out there solo mining finding coins every day. I am not telling you to solo mine with 2 S1 ant miners, that would possibly prove to be futile , UNLESS your a very very lucky person haha" what I am saying is it is still possible to grow and get into solo mining before its to late.

Dont take everything you read to heart, do your own due diligence, research look around and make your own decisions based on research and facts, never be the follower, try to be the leader.

Again just my 2 satoshis worth of opinion

I'm kinda new to BTC as well, and I found youtube to be a good source of info.

The first thing I started with was this series of vids http://www.youtube.com/channel/UCgo7FCCPuylVk4luP3JAgVw/videos
I mostly viewed the basic 101 clips as the advanced coding stuff is over my head. You learn a lot of important stuff about storing and securing your coins as well as other beginner stuff.

Then I started looking at how to read the numourus charts and graphs that BTC traders use to locate trends for trading.
There are lots of vids for that through out youtube.

But as always, buy low (now) sell high (next month) 

if you consider it a risk. dont do it. instead only put half of what you consider as risky into bitcoin. that way you have automatically halved your risk.

if you cant afford 2 golden eggs then dont put all your eggs into one basket when your eventually ready to buy the eggs.

if you get a monthly salary, do not put the whole income into bitcoin. as you do not know how long a price will stay flat (like the february-may $450) instead each month put in what you would describe as the total bill of a night out getting drunk, buying a meal and getting a taxi home.

basically 'disposible income', (money that you will never see again) that way you do not become emotionally attached to it to make silly desicions. examples of stupid decisions

1)buying 1btc at $1000, selling at $450 because you got scared it would go to zero. then waiting until $650 to buy back in and selling again at $560. (mathematically leaving you $391) all due to emotional attachment of not wanting to lose it all.

2) buying at $1000 and selling ALL at $450 leaving no btc spare to reap any benefits of the eventual rise. and costing you more to buy back in once it did rise, meaning your left with 0.7btc because you bought back in at $650

3)buying at $1000 and then selling at $450 because december-may was too long and you really needed the money

unless you understand day trading to grow your holdings.. dont be worrying about changes, dont be trying to buy and sell based on emotional attachment of what that holdings can or could have bought you. if your emotional about trading, you should not trade.

OMG. You promise? What a nut case.

I know, I'm making the promise, and I'm going to keep it. Maybe I'm a time traveler, or maybe I'm just super-duper smart. Well dear reader, you'll never know, but that doesn't make me any less correct in my assertion that there is no TRUE risk.

Cryptocurrency is a Pandora's box that has been opened. There will be no closing it, there is no going back from this; no stopping it. For once, democracy will have its way.

Right here is an excellent place to start.  bitcointalk.org literally has thousands of threads that you should find useful.  Start exploring, get active, ask questions.  For the most part you will find that most bitcoiners will be more than happy to help if they can.

For a nice news related site for bitcoin I prefer the following:
coindesk.com (great daily news summaries)
bitcoinmagazine.com (at times detailed discussion of 2.0 based tech's (i.e. Ethereum)

For price tracking:
bitcoinwisdom.com
tradingview.com (expert traders, live chat channel as well, many experienced forex traders exploring BTC here, excellent place to get a better idea about market trends, etc.)

I have a few things I probably could sell off for some BTC unfortunately I had to sell most of everything I did own, accumulating after 7 years of being in a small apartment, so I don't have much of worth right now. I'd imagine I could probably find something somewhere that might be of some small value.


Where would I start studying up on the market per say, that's what I'd like to know. All I know about btc is that they are surging, the GHash thing, and that it's hard to get them by mining unless you own superior hardware.

Absolutely, studying up always a good option when it comes to BTC.  The more you know the more informed your decisions will be.  And don't beat yourself up for mistakes made in the past, hindsight is always 20/20, believe me, if I beat myself up half as much as you are for not purchasing when it was much cheaper I would've jumped off a tall building by now.  (oh the horror stories I could tell you about my own mistakes :p)

*I would recommend heeding Bit_Happy's words as well, what he says about not taking huge risks not resulting in potentially huge rewards is absolutely true as well.

**Maybe start small and scale up accordingly based on how well you do.  Only risk what you can absolutely afford to lose though.

Taking time to learn more is a great plan.
Also, if you have any "eBay-type" items to sell you can get low risk BTC by selling things on a Bitcoin auction site like https://cryptothrift.com.

Well, let the past at past and move on.

You can still make money from Signature Camps., for many people, it's a job.

Focus on it and you will be making good amount of money and always use your mind for IDEAS.

Your brain nd style of thinking is your success.

Then I have a lot of thinking to do, and maybe some studying up. There's a chance I could get approved for help, since I am disabled and fighting with the state to get SSI, if that does happen I will most assuredly try and put some risk into the factor. If the price ever comes down again, I will definitely leap on the chance to get a few btc's tucked away for the future.

A couple months back when BTC was near ~$400 and many people were still screaming SELL! there was greatly reduced risk, since it was a fantastic time for brave people to go against the crowd. Now it takes more patience, since we already had a decent little rally, but ~$560 is a good time for some extra risk.

Are people supposed to take huge risks for BTC?
Huge "no", but without significant risk, you do not earn the big rewards later.

This is good advice, however the capital needed to take the risk isn't there. I am unemployed, I am disabled and I don't have much if any income. I should have taken the risk when BTC was very low, and rode on the high when it was back up again but I was stupid then. The last few years have been tough that's why when I ask this question I wonder if I could be taking any risks at all, then again I've made some risky choices that don't involve money by selling everything I own and relocating somewhere there are no jobs and no opportunities.

I guess I have a lot of options to weigh here.

This is absolutely ridiculous.  You can't promise anything like this.  Fact is nobody even knows if bitcoin will be around in a year or three so don't go making promises you can't keep.

*To the OP guy: if your not much of a gambler then you really should probably stick to the sure thing with the sig. campaigns. 

*And if you are considering taking some small risk...I would suggest waiting till at least the 27th to see what kind of BTC'ers purchase the SR Fed coins.

Long term bitcoin looks like a great investment. In the short term there will be ups and downs obviously but you can decide what level of risk you are willing to take. As more business accept it and more investment flows in the risk for individuals gets smaller.