then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.
Topic: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto - page 6. (Read 6782 times)
March 17, 2014, 01:03:14 PM
In the not so distant future bitcoin will be 900$
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.
then you will realize this is a buying opportunity and send your money back to the exchange
by the time your money arrives at the exchange price will be have double
you will still buy in, because you understand the market, and because bitcoin.
March 17, 2014, 01:00:52 PM
the safety of my EUR bank account.
I don't know what country you are in but the words "safety" and "EUR bank account" aren't exactly compatible.
http://www.zerohedge.com/news/2013-09-26/cyprus-style-wealth-confiscation-starting-all-over-world
http://www.zerohedge.com/news/2014-02-16/money-launderer-until-proven-innocent-italy-imposes-20-tax-withholding-all-inbound-m
Now, I'm not questioning your assertion that BTC is in a bearish spiralling down-trend of doom, nor am I questioning your decision to move funds out of Bitstamp. I'm just questioning why on earth you'd move it to a EU bank account instead of gold or silver or a chinese exchange where it could sit as yuan or any other number of much safer means of storing wealth.
As I said, I don't question your decision to move out of Bitstamp. I'm just saying that I personally would rather put all my funds in DOGE (or any other fad scamcoin) than store it in a EU bank account.
I might have bought all that emotionally appealing reactionary shit one day, but I don't anymore. My euro bank account is in Germany. As far as the EU goes. Germany is The Man. If there are further Euro crises, it won't be the German financial system that takes the hit.
The problem with putting money into gold or silver is that there is a time delay and high dealer premiums to be paid. Even using an allocated account service such as GoldMoney (where I still have a small amount of silver), turning fiat into silver costs 4.5% and into gold costs 2.5%. I may yet do that, but I would have to look much more closely at the pm markets and decided upon a good entry point.
But in the meantime, if I don't believe that Bitcoin is going to be doing very much, am I going to be better off holding my capital in USD form on Bitstamp or in EUR form with a German bank from which it would take just one day to get back to Bitstamp if I decide that it is needed there? Methinks that the answer to that is quite obvious.
March 17, 2014, 12:51:19 PM
March 17, 2014, 12:48:34 PM
or indeed that the bottom isn't even yet in from the post $0.0001-$1200 bubble crash.
FTFY
No, you broke that for me.
.00001 - $30 bubble. (2011)
Followed by long stagnant consolidation period of Bitcoin at around $10 (or less)
$10 - $1200 bubble. (2013)
Long stagnant consolidation period of Bitcoin yet to form itself at any given price.
March 17, 2014, 12:44:55 PM
or indeed that the bottom isn't even yet in from the post $0.0001-$1200 bubble crash.
FTFY
March 17, 2014, 12:43:23 PM
Quoting for the record books 
I have been 'quoted for truth' many times on this forum.
People who quote me tend not to get the opportunity to remind me of past statements which make me look silly in light of further developments. Sorry, but that is just how it has mostly been so far.
March 17, 2014, 12:40:29 PM
March 17, 2014, 12:37:50 PM
I have just decided to shift half my USD from Bitstamp back to the safety of my EUR bank account.
Why am I announcing this in speculation?
Because I suspect that many other traders or investors looking for good entry for longer term investment are going to be doing the same thing right now. Lets face it, Bitcoin isn't going to be doing anything much, anytime soon other than trend and grind, predominantly in a downward direction. I feel it, you all feel it, the hackers with thousands and thousands of stolen coins feel it, so why risk having tens of thousands of USD sitting in some exchange with each of it's feet planted in different countries jurisdictions with still lots of uncertainty shrouding security of Bitcoin exchanges, (yes, even Bitstamp)?
I have this apathetic sentiment towards Bitcoin as do lots of other Bitcoin investors, which kind of adds to the snowballing effect of bearish apathy.
I am holding zero Bitcoin. I still have an amount of Fiat on exchange, some of which will be turned back into GBP via BTC and LocalBitcoins, with a small amount left on exchange, 'just in case'. But the reality is that I don't expect any of my 'flash crash' buy-ins to be fulfilled, at least not until Bitcoin is trending in these sort of ranges anyhow, and I don't need preset buy-in tranches to buy Bitcoins in ranges where I will have all the time in the world to decide on whether to buy or not. Sure, there will still be swings in both directions that I could take advantage off, but will they really be worth the hassles and risks?
That is my sentiment and suspect it is widespread and growing. We were all waiting on the spectacular bottom to occur, to get our buy-ins, and then for Bitcoin to go shooting way back up to the moon but with that one day of Ukraine banking system panic put to one side, things aren't going to work out quite as simple as that. Indeed, I have seen convincing Elliot Wave analysis suggest that the bottom needs to be retested (and according to fibbonacci time ratio principles it aint happening anytime soon), or indeed that the bottom isn't even yet in from the post $10-$1200 bubble crash.
Why am I announcing this in speculation?
Because I suspect that many other traders or investors looking for good entry for longer term investment are going to be doing the same thing right now. Lets face it, Bitcoin isn't going to be doing anything much, anytime soon other than trend and grind, predominantly in a downward direction. I feel it, you all feel it, the hackers with thousands and thousands of stolen coins feel it, so why risk having tens of thousands of USD sitting in some exchange with each of it's feet planted in different countries jurisdictions with still lots of uncertainty shrouding security of Bitcoin exchanges, (yes, even Bitstamp)?
I have this apathetic sentiment towards Bitcoin as do lots of other Bitcoin investors, which kind of adds to the snowballing effect of bearish apathy.
I am holding zero Bitcoin. I still have an amount of Fiat on exchange, some of which will be turned back into GBP via BTC and LocalBitcoins, with a small amount left on exchange, 'just in case'. But the reality is that I don't expect any of my 'flash crash' buy-ins to be fulfilled, at least not until Bitcoin is trending in these sort of ranges anyhow, and I don't need preset buy-in tranches to buy Bitcoins in ranges where I will have all the time in the world to decide on whether to buy or not. Sure, there will still be swings in both directions that I could take advantage off, but will they really be worth the hassles and risks?
That is my sentiment and suspect it is widespread and growing. We were all waiting on the spectacular bottom to occur, to get our buy-ins, and then for Bitcoin to go shooting way back up to the moon but with that one day of Ukraine banking system panic put to one side, things aren't going to work out quite as simple as that. Indeed, I have seen convincing Elliot Wave analysis suggest that the bottom needs to be retested (and according to fibbonacci time ratio principles it aint happening anytime soon), or indeed that the bottom isn't even yet in from the post $10-$1200 bubble crash.
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