Let us take a moment to laugh at the BTC day traders. - page 5.

JimboToronto

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You're never too old to think young.

Quote from: Inedible on December 10, 2013, 09:07:07 PM

I don't get the day-trader hate.

Should they not be allowed to buy and sell Bitcoin at any rate they choose?

Of course. There should be no hate.

Humor on the other hand is a different story. Should people not be allowed to laugh at what they find hilarious?

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: 7Priest7 on December 10, 2013, 08:55:23 PM

Perhaps some Day Traders do well, but day trading is just like gambling, they could just as easily lose money.

You can lose your money by buying and holding too. This whole thing could crash down to nothing tomorrow, and people like you will be left holding the bag, while daytraders like me will have locked in profits multiple times before then.

When the market is down, I make money, when the market is up, I make money...people who buy and hold have nothing but unrealized gains (no matter what the market is doing), which are worth exactly zero.

theonewhowaskazu

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I sort of day trade as a hobby, now mainly on BTC.sx when I think the market is heading up, or a quick sell and buy-back on BTCChina when I think the market is heading down. So far I haven't lost any BTC (although the vast majority of my profit has been eaten by BTC.SX's HUGE ASS FEES). Preferable to gambling on satoshidice, if you want a thrill, and more mentally engaging too

EvilPanda

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Small Red and Bad

Quote from: JimboToronto on December 10, 2013, 09:12:39 PM

It's easy to laugh at "Leet TrayDURRz", but it's especially easy to laugh at the bears, because they take themselves so seriously and are so insufferably annoying.

Some even go so far as to shame themselves by putting pictures of bears in their avatars. It seems strange that in a forum dealing with an inherently bullish protocol like Bitcoin, avatars with bears outnumber avatars with bulls by a good margin.

Have they no shame?

Technically the one I have used to be classified as a bear.

About that BTC contribution, some of us have to convert to fiat from time to time. It's not like I can go to a shop and ask for qr.

7Priest7

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Quote from: kireinaha on December 10, 2013, 09:15:15 PM

There's something to be said of the opportunity cost. I'm not saying this will necessarily happen, but it's definitely a possibility and anyone who holds and holds without ever selling would in essence "lose" money in such a case. Not criticizing your strategy, but just saying it could happen and we're all essentially gambling on the future of bitcoin.

You're depressing, be positive! Wink

There is a reverse, Those who sell out before BTC reaches the height of it's maturity will not see the full fruit of their labor, due to their fear/greed.

kireinaha

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Quote from: 7Priest7 on December 10, 2013, 09:11:02 PM

Quote from: kireinaha on December 10, 2013, 09:07:27 PM

Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money.

Not true, I have mined/earned all my BTC.
I lose nothing if BTC plummets.
I use the electricity that comes free with my rent.

I hope BTC flourishes into a useable currency,
but if it doesn't I will not lose anything.

There's something to be said of the opportunity cost. I'm not saying this will necessarily happen, but it's definitely a possibility and anyone who holds and holds without ever selling would in essence "lose" money in such a case. Not criticizing your strategy, but just saying it could happen and we're all essentially gambling on the future of bitcoin.

JimboToronto

legendary

Activity: 4200

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You're never too old to think young.

It's easy to laugh at "Leet TrayDURRz", but it's especially easy to laugh at the bears, because they take themselves so seriously and are so insufferably annoying.

Some even go so far as to shame themselves by putting pictures of bears in their avatars. It seems strange that in a forum dealing with an inherently bullish protocol like Bitcoin, avatars with bears outnumber avatars with bulls by a good margin.

Have they no shame?

kireinaha

sr. member

Activity: 350

Merit: 253

Quote from: Inedible on December 10, 2013, 09:07:07 PM

I don't get the day-trader hate.

Should they not be allowed to buy and sell Bitcoin at any rate they choose?

I don't really get it either. I guess they view "day traders" as part of the status quo financial elite, whereas the bitcoin true believers are sophisticated gentlemen who look down on the stock market and the dirty fiat that backs it. Something like that. Despite the fact that everyone is basically doing the same thing.

7Priest7

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Quote from: kireinaha on December 10, 2013, 09:07:27 PM

Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money.

Not true, I have mined/earned all my BTC.
I lose nothing if BTC plummets.
I use the electricity that comes free with my rent.

I hope BTC flourishes into a useable currency,
but if it doesn't I will not lose anything.

Minor Miner

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Be A Digital Miner

Quote from: Inedible on December 10, 2013, 09:07:07 PM

I don't get the day-trader hate.
Should they not be allowed to buy and sell Bitcoin at any rate they choose?

yes, they should be allowed to lose their money on any zero sum game in the world just like we should feel free to criticize their absurd behavior. Never met one that didn't just "bank" it all the time.....

7Priest7

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Activity: 392

Merit: 250

Quote from: Inedible on December 10, 2013, 09:07:07 PM

I don't get the day-trader hate.

Should they not be allowed to buy and sell Bitcoin at any rate they choose?

They buy and sell BTC to just buy and sell BTC.
They simply detract from the goal of BTC to be a currency.

They don't contribute to BTC in general.

kireinaha

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Activity: 350

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Quote from: 7Priest7 on December 10, 2013, 08:55:23 PM

Quote from: takagari on December 10, 2013, 08:49:31 PM

Yes, and the Vast majority of the human population wouldnt be Day Traders lol.
Day trading take's commitment to do it. I'd bet some of those guys make a damn good living off of it.

Imagine buying a bunch today at ever 800 open, and than selling them all off now at $1000. If you had done this with a coin. you'd make $200.
Some of these guys do that with 100 coins. That's 20 grand profit in a day.
That's a day trader

I was referring to the "follow the pack" day traders who have not been doing it forever.
Those who just recently tried and failed to profit off BTC, they got scared when it went from $1200 and started dropping, They sold for less to avoid a complete loss.

Perhaps some Day Traders do well, but day trading is just like gambling, they could just as easily lose money.

Hate to break it to you, but we're all gambling on the future of bitcoin. It could crash to $1 tomorrow on some type of devastating news, and a lot of people would lose a lot of money.

Inedible

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What doesn't kill you only makes you sicker!

I don't get the day-trader hate.

Should they not be allowed to buy and sell Bitcoin at any rate they choose?

7Priest7

sr. member

Activity: 392

Merit: 250

Quote from: takagari on December 10, 2013, 08:49:31 PM

Yes, and the Vast majority of the human population wouldnt be Day Traders lol.
Day trading take's commitment to do it. I'd bet some of those guys make a damn good living off of it.

Imagine buying a bunch today at ever 800 open, and than selling them all off now at $1000. If you had done this with a coin. you'd make $200.
Some of these guys do that with 100 coins. That's 20 grand profit in a day.
That's a day trader

I was referring to the "follow the pack" day traders who have not been doing it forever.
Those who just recently tried and failed to profit off BTC, they got scared when it went from $1200 and started dropping, They sold for less to avoid a complete loss.

Perhaps some Day Traders do well, but day trading is just like gambling, they could just as easily lose money.

takagari

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Quote from: 7Priest7 on December 10, 2013, 08:46:37 PM

Quote from: Mike Christ on December 10, 2013, 08:31:40 PM

I'm curious about this profession; what does day trading provide to society?

Nothing, Day traders exist for their own greed, nothing more.
They waste oxygen.

Quote from: takagari on December 10, 2013, 08:38:41 PM

Anyone who bought a bunch at $1200 and than sold it off at $700 in a panic is NOT a day trader, they would be a clueless noob..

So, The vast majority of the human population?

Based off my experiences with people in general, The vast majority are self-centered, poorly educated, and serve only their own interests.

Yes, and the Vast majority of the human population wouldnt be Day Traders lol.
Day trading take's commitment to do it. I'd bet some of those guys make a damn good living off of it.

Imagine buying a bunch today at ever 800 open, and than selling them all off now at $1000. If you had done this with a coin. you'd make $200.
Some of these guys do that with 100 coins. That's 20 grand profit in a day.
That's a day trader

Minor Miner

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Be A Digital Miner

Quote from: Mike Christ on December 10, 2013, 08:31:40 PM

I'm curious about this profession; what does day trading provide to society?

It keeps undesirable people glued to a computer so they are not out in the real world ripping people off.

7Priest7

sr. member

Activity: 392

Merit: 250

Quote from: Mike Christ on December 10, 2013, 08:31:40 PM

I'm curious about this profession; what does day trading provide to society?

Nothing, Day traders exist for their own greed, nothing more.
They waste oxygen.

Quote from: takagari on December 10, 2013, 08:38:41 PM

Anyone who bought a bunch at $1200 and than sold it off at $700 in a panic is NOT a day trader, they would be a clueless noob..

So, The vast majority of the human population?

Based off my experiences with people in general, The vast majority are self-centered, poorly educated, and weak(spiritually, emotionally, and physically).

takagari

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A Day trader wouldn't of sold it all off... if they sold at $1200 they bought it all back at 700... that's what day trading is, multiple trade's back and fourth in a day to make money off the coins...

Anyone who bought a bunch at $1200 and than sold it off at $700 in a panic is NOT a day trader, they would be a clueless noob..

kaito

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