I only put play money in btc, basically I look at it as gambling. I only have a few hundred bucks in the system total, so "serious profit" is a relative term. I would never risk my retirement or savings to the BTC market.
My main (real) investments are in stocks, which is still fairly risky, but less so than BTC Imo.
Topic: Is it a good idea to buy Bitcoin now at $29? - page 2. (Read 10662 times)
if you believe you will seriously profit from 1BTC investment (xrp) then you are much stronger bull than any of us here... 
We will see.
I still don't trust the market, and am staying primarily in USD.
That said, I flipped some ripples (xrp) I got for free into BTC, so I can still benifit from the rally without exposing myself to very much risk if there is a crash.
Either way, I win. If there is a crash, I manage to preserve the profit I locked in off of my initial investment and can buy back in cheap; If the price continues to rise, I still profit with little risk.
I still don't trust the market, and am staying primarily in USD.
That said, I flipped some ripples (xrp) I got for free into BTC, so I can still benifit from the rally without exposing myself to very much risk if there is a crash.
Either way, I win. If there is a crash, I manage to preserve the profit I locked in off of my initial investment and can buy back in cheap; If the price continues to rise, I still profit with little risk.
Remember that statement when we hit single digits again.
I'm afraid most people here won't be able to recall this statement - senile dementia would kick in by then.
Just thought I'd drop this here for chuckles 
Yeah, $29 was pretty good idea. $36 will be looking the same in few days.
Just thought I'd drop this here for chuckles
It is still a good idea to buy now - the rally is hardly over. There will be small corrections, but most people accept a state of "permanent rally" now and will purchase BTC when the price gets any bit lower.
I'd hesitate to say "buy now". That's a knee-jerk response. Devise a strategy and stick with it. Assigning a small portion of income to purchasing bitcoins is one of the smarter ideas though more complex ones are certainly feasible.
It is still a good idea to buy now - the rally is hardly over. There will be small corrections, but most people accept a state of "permanent rally" now and will purchase BTC when the price gets any bit lower.
Hey! proudhon removed his "I predict single digits in 2013" tagline.
ok, NOW I sell..
Alright, back from the weekend and ready to watch the correction intensify.
Welcome back.
I have important question. Did we seen top for this year?
Probably. Hard to imagine buying past the recent 2013 high. We're very likely in correction territory. Probably just need one more large player to made the change definitive, and then we'll see the herd race each other to the door. We could still very easily see single digits as downward momentum builds.
Whoops, new high again.
Hey! proudhon removed his "I predict single digits in 2013" tagline.
Lol bears. Read'em and weep!
Alright, back from the weekend and ready to watch the correction intensify.
Welcome back.
I have important question. Did we seen top for this year?
Probably. Hard to imagine buying past the recent 2013 high. We're very likely in correction territory. Probably just need one more large player to made the change definitive, and then we'll see the herd race each other to the door. We could still very easily see single digits as downward momentum builds.
Whoops, new high again.
Above silver and below an all time high. The perfect place to stay for a while attracting attention.
I'm also extremely short, hoping for a flash dump.
What do you mean by "extremely short", if you mean you sell bitcoins you have borrowed, then may I ask where did you borrow them?If you are saying "extremely short" by selling out almost all your bitcoins, (but still hold a little), then you are actally "long", there is nothing short. And you have parked fiat money there, you youself are already a factor that makes a down-trend hard.I'm also extremely short, hoping for a flash dump.
My bad, I ment shot in the not leveraged way! Besides I'm never all long or short. In stable periods I reset to 50%/50%.
So if we stay at $30 for a month or so, I buy in again and maintain my 50%/50% Dollar value ratio by selling less and less on the way up.
Srsly, whats the merit of fractioning one's position aka never going "all-in"?
I understand that it makes sense when you trade on margin, but other then that, whats the point?
Id really like to understand your reasoning behind it.
If you have 100% bitcoins, and there is found a hole in the code which makes bitcoin worthless, then you are left with nothing. If you have 100% USD, and the fed prints a gazillion dollars overnight and everybody switches to bitcoin before you wake up, you miss the rocket and are left with nothing. Therefore, it makes sense to have some percent in each currency to lower the overall risk.
It's method that doesn't cost you more than half your money in the event of the crash out of the blue that ends Bitcoin. At the same time I'm sure that I'll get half of the value of the future all time high on my long position.
In a bear market I buy for 50% of my funds or more in the bottom of crashes and sell when the bounce back rolls off, thats where I make all of it worth while big time.
So the bulls would be laughing that Iv'e only made a doubling since $7, but I've had almost zero risk and any black swans or extreme rallies are only good news to me! ( I missed Pirates crash on the 8'th of August, sadly or I would be up 3-400% instead)
I don't either need to care about what is going to happen to Bitcoin or speculate which way it goes. It's a lot less stress full. I do however, have a live ticker on my person 24/7.
If more people traded like this, price wouldn't move much, so thanks for your recklesness.
You could just buy put options.
Above silver and below an all time high. The perfect place to stay for a while attracting attention.
I'm also extremely short, hoping for a flash dump.
What do you mean by "extremely short", if you mean you sell bitcoins you have borrowed, then may I ask where did you borrow them?If you are saying "extremely short" by selling out almost all your bitcoins, (but still hold a little), then you are actally "long", there is nothing short. And you have parked fiat money there, you youself are already a factor that makes a down-trend hard.I'm also extremely short, hoping for a flash dump.
My bad, I ment shot in the not leveraged way! Besides I'm never all long or short. In stable periods I reset to 50%/50%.
So if we stay at $30 for a month or so, I buy in again and maintain my 50%/50% Dollar value ratio by selling less and less on the way up.
Srsly, whats the merit of fractioning one's position aka never going "all-in"?
I understand that it makes sense when you trade on margin, but other then that, whats the point?
Id really like to understand your reasoning behind it.
If you have 100% bitcoins, and there is found a hole in the code which makes bitcoin worthless, then you are left with nothing. If you have 100% USD, and the fed prints a gazillion dollars overnight and everybody switches to bitcoin before you wake up, you miss the rocket and are left with nothing. Therefore, it makes sense to have some percent in each currency to lower the overall risk.
It's method that doesn't cost you more than half your money in the event of the crash out of the blue that ends Bitcoin. At the same time I'm sure that I'll get half of the value of the future all time high on my long position.
In a bear market I buy for 50% of my funds or more in the bottom of crashes and sell when the bounce back rolls off, thats where I make all of it worth while big time.
So the bulls would be laughing that Iv'e only made a doubling since $7, but I've had almost zero risk and any black swans or extreme rallies are only good news to me! ( I missed Pirates crash on the 8'th of August, sadly or I would be up 3-400% instead)
I don't either need to care about what is going to happen to Bitcoin or speculate which way it goes. It's a lot less stress full. I do however, have a live ticker on my person 24/7.
If more people traded like this, price wouldn't move much, so thanks for your recklesness.
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
Above silver and below an all time high. The perfect place to stay for a while attracting attention.
I'm also extremely short, hoping for a flash dump.
What do you mean by "extremely short", if you mean you sell bitcoins you have borrowed, then may I ask where did you borrow them?If you are saying "extremely short" by selling out almost all your bitcoins, (but still hold a little), then you are actally "long", there is nothing short. And you have parked fiat money there, you youself are already a factor that makes a down-trend hard.I'm also extremely short, hoping for a flash dump.
My bad, I ment shot in the not leveraged way! Besides I'm never all long or short. In stable periods I reset to 50%/50%.
So if we stay at $30 for a month or so, I buy in again and maintain my 50%/50% Dollar value ratio by selling less and less on the way up.
Srsly, whats the merit of fractioning one's position aka never going "all-in"?
I understand that it makes sense when you trade on margin, but other then that, whats the point?
Id really like to understand your reasoning behind it.
If you have 100% bitcoins, and there is found a hole in the code which makes bitcoin worthless, then you are left with nothing. If you have 100% USD, and the fed prints a gazillion dollars overnight and everybody switches to bitcoin before you wake up, you miss the rocket and are left with nothing. Therefore, it makes sense to have some percent in each currency to lower the overall risk.
Above silver and below an all time high. The perfect place to stay for a while attracting attention.
I'm also extremely short, hoping for a flash dump.
What do you mean by "extremely short", if you mean you sell bitcoins you have borrowed, then may I ask where did you borrow them?If you are saying "extremely short" by selling out almost all your bitcoins, (but still hold a little), then you are actally "long", there is nothing short. And you have parked fiat money there, you youself are already a factor that makes a down-trend hard.I'm also extremely short, hoping for a flash dump.
My bad, I ment shot in the not leveraged way! Besides I'm never all long or short. In stable periods I reset to 50%/50%.
So if we stay at $30 for a month or so, I buy in again and maintain my 50%/50% Dollar value ratio by selling less and less on the way up.
Srsly, whats the merit of fractioning one's position aka never going "all-in"?
I understand that it makes sense when you trade on margin, but other then that, whats the point?
Id really like to understand your reasoning behind it.
Above silver and below an all time high. The perfect place to stay for a while attracting attention.
I'm also extremely short, hoping for a flash dump.
What do you mean by "extremely short", if you mean you sell bitcoins you have borrowed, then may I ask where did you borrow them?If you are saying "extremely short" by selling out almost all your bitcoins, (but still hold a little), then you are actally "long", there is nothing short. And you have parked fiat money there, you youself are already a factor that makes a down-trend hard.I'm also extremely short, hoping for a flash dump.
My bad, I ment shot in the not leveraged way! Besides I'm never all long or short. In stable periods I reset to 50%/50%.
So if we stay at $30 for a month or so, I buy in again and maintain my 50%/50% Dollar value ratio by selling less and less on the way up.
Above silver and below an all time high. The perfect place to stay for a while attracting attention.
I'm also extremely short, hoping for a flash dump.
What do you mean by "extremely short", if you mean you sell bitcoins you have borrowed, then may I ask where did you borrow them?If you are saying "extremely short" by selling out almost all your bitcoins, (but still hold a little), then you are actally "long", there is nothing short. And you have parked fiat money there, you youself are already a factor that makes a down-trend hard.I'm also extremely short, hoping for a flash dump.
But once we build a huge downward momentum, somebody comes in, buys 20 BTC and the rally reignites!
The fact that there are so many people hoping for a downturn or a bubble burst so that they can buy Bitcoin cheaper means that there would not be a very big downturn.
When the price went down to $4/BTC a lot of it was from people making money on Bitcoinica shorting to make money. At that point, people were hoping the price would go up so that they could short more.
Plus there were so many hacks that sentiment was not very healthy on Bitcoin making it at all.
I would expect lower prices if shorting were popular again. But Bitcoin has also proven itself fairly well in the past 6 months or so.
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