Topic: Help me decide when to buy 0.5-1 bitcoin (Read 1123 times)
If it's money you can afford to lose and you want to get in for the long run I would definitely enter now. The most likely outcome is that it will be worth either 0 (highest probability) or 100x+ more , 5 years from now. People will tell you to wait for this level or that level based on technicals, etc ... truth is that volatility is way too high right now and opportunity cost is high, if you can get your coin <100 right now I would consider it a good long term deal .
I hope you haven't bought yet and ignore the geniuses who say it doesn't matter what price you buy at now because it's going to 10,000 some day. Of course if you buy at 75 vs 225, you end up with three times as many BTCs....which yeah....MIGHT be better for you when it gets to 10,000.
I'd wait until the fiasco with MtGox clears up tomorrow.
My crystal balls say it'll drop perhaps as low as $30 tomorrow but after it stabilises for 4 or 5 hours it may rocket back up to $90 or more as I for one will be buying as many as I can at that price
With it being P2P this is far more resilient than any centralised currency. The wildly fluctuating value is an annoyance that can only improve when
1) The currency is used by more shops/retailers
2) More exchanges setup rather than just MtGox as when something bad happens there it currently effects everyone.
2) More people are involved to smooth out fluctuations of demand of the finite coins
I will be amazed if in 10 years Bitcoin is still trading at $100/coin, it'll either be $0 or $10,000 depending on how well it's embraced.
I too share the view that this is something where the longterm price is more important here so not too important when you buy in at this stage although this last month has been an intense ride.
My crystal balls say it'll drop perhaps as low as $30 tomorrow but after it stabilises for 4 or 5 hours it may rocket back up to $90 or more as I for one will be buying as many as I can at that price
With it being P2P this is far more resilient than any centralised currency. The wildly fluctuating value is an annoyance that can only improve when
1) The currency is used by more shops/retailers
2) More exchanges setup rather than just MtGox as when something bad happens there it currently effects everyone.
2) More people are involved to smooth out fluctuations of demand of the finite coins
I will be amazed if in 10 years Bitcoin is still trading at $100/coin, it'll either be $0 or $10,000 depending on how well it's embraced.
I too share the view that this is something where the longterm price is more important here so not too important when you buy in at this stage although this last month has been an intense ride.
Two answers.
1. Just buy it. If it goes to thousands or more, getting in at $200 or $250 makes no difference. Same if it goes to zero. And the chances of today's market price being the all-time high are slim (but certainly nonzero).
2. dollar cost averaging. Look it up. I've been doing it since it was in the teens - the first time.
1. Just buy it. If it goes to thousands or more, getting in at $200 or $250 makes no difference. Same if it goes to zero. And the chances of today's market price being the all-time high are slim (but certainly nonzero).
2. dollar cost averaging. Look it up. I've been doing it since it was in the teens - the first time.
Do this.
I'm trying to figure this out too.
I'm not sure but I think eventually cryptocurrency will leave the beta stage once new exchange rates that aren't incompetent such as mt-gox start up, they probably will stabilize and become a accepted mainstream on the internet. I'm in this for the long run, I will buy a few btc and forget about them for months.
If it is only 1 BTC and for fun, you should buy it now because the rate will probably get back up again soon!
Have fun!
Have fun!
The best time to buy is the moment you find yourself saying, "Yeah, I thought about buying some btc, but now it doesn't seem as fun as it sounded and I'm no longer interested..."
That is, by definition, the bottom.
That is, by definition, the bottom.
By the way, this will happen sooner than you think... I'm guessing within 72 hours of the time Mt Gox reopens for good
The best time to buy is the moment you find yourself saying, "Yeah, I thought about buying some btc, but now it doesn't seem as fun as it sounded and I'm no longer interested..."
That is, by definition, the bottom.
That is, by definition, the bottom.
Now.
glad I waited after all!Thanks for the replies guys!
I still have a feeling that the value can dip again, so I'd say wait.
I would say the same thing.
I think the bubble is just starting to explode, and it will probably go lower in 2-3 months.
However if you want to make sure not to miss on anything, I started by investing a bit every weeks or two. Not always a lot but this way I was sure that on the long run it should be worth it.
Yeah, that's my plan. I just started using Bitcoin today even though I've been following its news for quite some time.
Whenever you think the price will go up afterwards.
Amen. Now seems as good a time as any.
I still have a feeling that the value can dip again, so I'd say wait.
I would say the same thing.
I think the bubble is just starting to explode, and it will probably go lower in 2-3 months.
However if you want to make sure not to miss on anything, I started by investing a bit every weeks or two. Not always a lot but this way I was sure that on the long run it should be worth it.
I still have a feeling that the value can dip again, so I'd say wait.
I agree with those who say buy now. I believe the media attention btc has been getting will drive the prices higher before it goes much lower. If you are worried about it crashing, cash out after you have made a predetermined amount of profit, continue watching the charts, and buy again if you feel the time is right again later. ...but I don't really know.
Well you are already 'wrong" to say "I'll keep it for two years" What if another bubble forms and another crash..you want to just blindly hold it through that. A lot of people sold today over $200 and bought back at $130 or so. And it wasn't difficult to do that besides the exchanges not keeping up. So just don't blindly hold while it goes to $300 and then down to $10 or something...just not smart.
But short term, I would expect the price to drift downward over the next few weeks/months. I sure wouldn't pay over $100 for it...maybe $75 tops for 1 BTC. Otherwise risk is too high for possible reward.
If you are anxious to get in on the fun just buy .1 BTC on ebay or even .01...better than buying at a time when technical analysis says sell.
This is what I did. I have .02 BTC in my wallet and feel like I am part of it, even though I only spent about $5.00.
But short term, I would expect the price to drift downward over the next few weeks/months. I sure wouldn't pay over $100 for it...maybe $75 tops for 1 BTC. Otherwise risk is too high for possible reward.
If you are anxious to get in on the fun just buy .1 BTC on ebay or even .01...better than buying at a time when technical analysis says sell.
This is what I did. I have .02 BTC in my wallet and feel like I am part of it, even though I only spent about $5.00.
Not everyone has the time, temperament or inclination to try to buy the lows and sell the highs. Sure, if you were good at picking the lows and highs you could double/triple your money easy. But just because someone buys and holds, or merely buys the dips, doesn't make them stupid.
Of course the best thing to do is buy and then transact. Buy some socks, buy that new laptop from bitcoinstore, whatever.
If you are really just buying it for fun, then you should just buy it now and not worry about the price (unless worrying is your idea of fun).
Well you are already 'wrong" to say "I'll keep it for two years" What if another bubble forms and another crash..you want to just blindly hold it through that. A lot of people sold today over $200 and bought back at $130 or so. And it wasn't difficult to do that besides the exchanges not keeping up. So just don't blindly hold while it goes to $300 and then down to $10 or something...just not smart.
But short term, I would expect the price to drift downward over the next few weeks/months. I sure wouldn't pay over $100 for it...maybe $75 tops for 1 BTC. Otherwise risk is too high for possible reward.
If you are anxious to get in on the fun just buy .1 BTC on ebay or even .01...better than buying at a time when technical analysis says sell.
This is what I did. I have .02 BTC in my wallet and feel like I am part of it, even though I only spent about $5.00.
But short term, I would expect the price to drift downward over the next few weeks/months. I sure wouldn't pay over $100 for it...maybe $75 tops for 1 BTC. Otherwise risk is too high for possible reward.
If you are anxious to get in on the fun just buy .1 BTC on ebay or even .01...better than buying at a time when technical analysis says sell.
This is what I did. I have .02 BTC in my wallet and feel like I am part of it, even though I only spent about $5.00.
And in 10 years, it will hover around $1,000,000! Get in quick.
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