The thoughts of a bubble buyer - page 3.

RationalSpeculator

sr. member

Activity: 294

Merit: 250

This bull will try to shake you off. Hold tight!

Quote from: Tzupy on August 28, 2013, 08:09:49 AM

OP, sorry if I hurt your feelings, but I had good intentions. I wish you good luck in holding to your coins on long term.

IMO the train is not close to leaving the station. My guess is that at best BTC is going to compete with Paypal, and this
alone could lead to a price above 1,000$ / coin. But on short term, adoption is still slow, and the transition from
illegal drugs and weapons to mass adoption is very questionable. I rather see BTC used by companies to bribe
government officials all over the world, because BTC transactions are less traceable than bank account transfers.

I really like your opinion. It seems way more realistic than the 'btc will conquer the world'.

Maybe one day it will but today the empirical proof is that the online porn industry as well as online gaming industry are NOT adopting it.

Surely this must happen first if mass adoption would be in the cards.

It is - actually - possible that bitcoin remains marginal and it's growth slows down much sooner than expected.

As speculators/investors we must put the facts in front of the dreams.

RationalSpeculator

sr. member

Activity: 294

Merit: 250

This bull will try to shake you off. Hold tight!

Quote from: Cyberdyne on August 28, 2013, 09:05:09 AM

Quote from: Rampion on August 28, 2013, 08:30:56 AM

Quote from: Cyberdyne on August 28, 2013, 08:20:27 AM

To the OP:

Don't feel too bad, I bought [too many] coins at [much higher than] $230.

I'm still eternally bullish, and have had the opportunity a few times since then to add to my wallet at lower prices (eg, at $60 when I got the chance).

I have no doubt in my mind that the rate will get back to (and far beyond) what I paid for them eventually, just a matter of time.

Meanwhile, here's to hoping there are still more opportunities yet for buying coins under $100!! Wink

Much higher than $230? How is that possible?

ATH was $266, and a few hours before the crash the price was BELOW $230 - how did you manage to buy "much higher" than $230???

$266 = Much higher than $230

Yes, I bought a lot of coins at $265-ish. It was only up there for a few hours but it was very high volumes being traded, and I was in there buying :/

Edit: I just noticed my forum activity is now 266.

I'm sorry for your loss Sad

Since you notice 266 in random places I figure it sticks with you. I hope you succeed in learning a valuable correct lesson from it.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: Tzupy on August 28, 2013, 08:54:32 AM

Quote from: notme on August 28, 2013, 08:48:12 AM

Quote from: Tzupy on August 28, 2013, 08:09:49 AM

OP, sorry if I hurt your feelings, but I had good intentions. I wish you good luck in holding to your coins on long term.

IMO the train is not close to leaving the station. My guess is that at best BTC is going to compete with Paypal, and this
alone could lead to a price above 1,000$ / coin. But on short term, adoption is still slow, and the transition from
illegal drugs and weapons to mass adoption is very questionable. I rather see BTC used by companies to bribe
government officials all over the world, because BTC transactions are less traceable than bank account transfers.

Tzupy makes a new prognostication every day. He is mostly wrong (hence the need to change his stance so frequently). Reader beware. He may yet turn into a good trader if he sticks with it, but at this point he is making guesses and then talking about it as fact. No hard feelings Tzupy. Like you, I just want to help OP to learn. Most people on this board are full of advice, but little of it is of any use.

Wrong on the 'advice'. Most people on this board are trying to mislead others, I don't. If I make a wrong call, then you may be 100% sure I lost money or missed profit on that wrong call.
So you disagree that if BTC successfully competes with Paypal, the price could climb above 1,000$ / coin?

No, I don't disagree with that.

Cyberdyne

hero member

Activity: 630

Merit: 500

Quote from: Rampion on August 28, 2013, 08:30:56 AM

Quote from: Cyberdyne on August 28, 2013, 08:20:27 AM

To the OP:

Don't feel too bad, I bought [too many] coins at [much higher than] $230.

I'm still eternally bullish, and have had the opportunity a few times since then to add to my wallet at lower prices (eg, at $60 when I got the chance).

I have no doubt in my mind that the rate will get back to (and far beyond) what I paid for them eventually, just a matter of time.

Meanwhile, here's to hoping there are still more opportunities yet for buying coins under $100!! Wink

Much higher than $230? How is that possible?

ATH was $266, and a few hours before the crash the price was BELOW $230 - how did you manage to buy "much higher" than $230???

$266 = Much higher than $230

Yes, I bought a lot of coins at $265-ish. It was only up there for a few hours but it was very high volumes being traded, and I was in there buying :/

Edit: I just noticed my forum activity is now 266.

Tzupy

legendary

Activity: 2170

Merit: 1094

Quote from: notme on August 28, 2013, 08:48:12 AM

Quote from: Tzupy on August 28, 2013, 08:09:49 AM

OP, sorry if I hurt your feelings, but I had good intentions. I wish you good luck in holding to your coins on long term.

IMO the train is not close to leaving the station. My guess is that at best BTC is going to compete with Paypal, and this
alone could lead to a price above 1,000$ / coin. But on short term, adoption is still slow, and the transition from
illegal drugs and weapons to mass adoption is very questionable. I rather see BTC used by companies to bribe
government officials all over the world, because BTC transactions are less traceable than bank account transfers.

Tzupy makes a new prognostication every day. He is mostly wrong (hence the need to change his stance so frequently). Reader beware. He may yet turn into a good trader if he sticks with it, but at this point he is making guesses and then talking about it as fact. No hard feelings Tzupy. Like you, I just want to help OP to learn. Most people on this board are full of advice, but little of it is of any use.

Wrong on the 'advice'. Most people on this board are trying to mislead others, I don't. If I make a wrong call, then you may be 100% sure I lost money or missed profit on that wrong call.
So you disagree that if BTC successfully competes with Paypal, the price could climb above 1,000$ / coin?

notme

legendary

Activity: 1904

Merit: 1002

Quote from: Tzupy on August 28, 2013, 08:09:49 AM

OP, sorry if I hurt your feelings, but I had good intentions. I wish you good luck in holding to your coins on long term.

IMO the train is not close to leaving the station. My guess is that at best BTC is going to compete with Paypal, and this
alone could lead to a price above 1,000$ / coin. But on short term, adoption is still slow, and the transition from
illegal drugs and weapons to mass adoption is very questionable. I rather see BTC used by companies to bribe
government officials all over the world, because BTC transactions are less traceable than bank account transfers.

Tzupy makes a new prognostication every day. He is mostly wrong (hence the need to change his stance so frequently). Reader beware. He may yet turn into a good trader if he sticks with it, but at this point he is making guesses and then talking about it as fact. No hard feelings Tzupy. Like you, I just want to help OP to learn. Most people on this board are full of advice, but little of it is of any use.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: Cyberdyne on August 28, 2013, 08:20:27 AM

To the OP:

Don't feel too bad, I bought [too many] coins at [much higher than] $230.

I'm still eternally bullish, and have had the opportunity a few times since then to add to my wallet at lower prices (eg, at $60 when I got the chance).

I have no doubt in my mind that the rate will get back to (and far beyond) what I paid for them eventually, just a matter of time.

Meanwhile, here's to hoping there are still more opportunities yet for buying coins under $100!! Wink

Much higher than $230? How is that possible?

ATH was $266, and a few hours before the crash the price was BELOW $230 - how did you manage to buy "much higher" than $230???

Cyberdyne

hero member

Activity: 630

Merit: 500

To the OP:

Don't feel too bad, I bought [too many] coins at [much higher than] $230.

I'm still eternally bullish, and have had the opportunity a few times since then to add to my wallet at lower prices (eg, at $60 when I got the chance).

I have no doubt in my mind that the rate will get back to (and far beyond) what I paid for them eventually, just a matter of time.

Meanwhile, here's to hoping there are still more opportunities yet for buying coins under $100!! Wink

Tzupy

legendary

Activity: 2170

Merit: 1094

OP, sorry if I hurt your feelings, but I had good intentions. I wish you good luck in holding to your coins on long term.

IMO the train is not close to leaving the station. My guess is that at best BTC is going to compete with Paypal, and this
alone could lead to a price above 1,000$ / coin. But on short term, adoption is still slow, and the transition from
illegal drugs and weapons to mass adoption is very questionable. I rather see BTC used by companies to bribe
government officials all over the world, because BTC transactions are less traceable than bank account transfers.

neutrinox

full member

Activity: 182

Merit: 100

1MCKW9AkWj3aopC1aPegcZEf2fYNrhUQVf

Quote from: Bitcopia on August 28, 2013, 12:49:19 AM

Haha ok so what I thought was patience and emotional control was actually just stubborn pride. Maybe you need a few more years. Wink

Either way, it's cool that you stuck around and educated yourself.

Foolish pride is clearly underrated! Cheesy

Quote

Since most posters don't want to tell the OP the naked truth ( and don't want him to learn ), I'll say it again:
It was obviously a stupid move to buy close to the top of a bubble spike, and another stupid move
not to sell on the rebound after the crash ( which many people did ). That was a typical 'one mistake
leads to another' situation. So don't think I'm harsh on you, I made the stupid move to buy
in May at about 110$. That's because I was a total n00b back then. The right time to buy is when
there is ( most ) blood in the streets. And the right time to sell is when the market peaks ( these days ), then
wait for the bottom of the bear market and buy back more. These are very simple market rules, but most posters
want you to just hold to your overpriced coins. Well, maybe next year there will be another bubble spike.

I'm sure what you are writing is true and I'd like to thank you for the advice! I just want to point out, that I was never really interested in becoming a day trader. I simply bought into bitcoin, because I thought "the train might be leaving the station".

Quote

Just my two cents: Ask yourself sincerely if you might think "something has changed" in you because in the last weeks Bitcoin has been stable (or in a growing trend). Ask to yourself if you wouldn't go back to the heartache if you see the price quickly crashing to sub-$50, or if you will not shit on your pants if Gox go broke or the regulators get harsher.

This might very well be true and probably plays a part in what I'm currently feeling. But one thing has really genuinely changed and that is that I will either collect a big reward or hold all the way down to zero. Earlier I was looking for an exit that would allow me to break even. I am not doing that any more. I thought it might be helpful to share this psychological change, because many people fear a massive sell-off when we reach the spring bubble prices. My point is, if there are more people like me, the sell-off might not be so bad..

RationalSpeculator

sr. member

Activity: 294

Merit: 250

This bull will try to shake you off. Hold tight!

Quote from: Tzupy on August 28, 2013, 02:40:51 AM

Since most posters don't want to tell the OP the naked truth ( and don't want him to learn ), I'll say it again:
It was obviously a stupid move to buy close to the top of a bubble spike, and another stupid move
not to sell on the rebound after the crash ( which many people did ). That was a typical 'one mistake
leads to another' situation. So don't think I'm harsh on you, I made the stupid move to buy
in May at about 110$. That's because I was a total n00b back then. The right time to buy is when
there is ( most ) blood in the streets. And the right time to sell is when the market peaks ( these days ), then
wait for the bottom of the bear market and buy back more. These are very simple market rules, but most posters
want you to just hold to your overpriced coins. Well, maybe next year there will be another bubble spike.

I think your criticism is very good, just no need to call him (or yourself) names. Undecided

Rampion

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oser41eric

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Quote from: Tzupy on August 28, 2013, 02:40:51 AM

That's because I was a total n00b back then. The right time to buy is when
there is ( most ) blood in the streets. And the right time to sell is when the market peaks ( these days ), then
wait for the bottom of the bear market and buy back more

Seems you turned to pro trader fairly quickly, lucker. If I saw the future as clear as you, I would make fortune as well Wink

xxjs

sr. member

Activity: 280

Merit: 250

Tzupi is off. OP was maybe lucky with his stubbornness this time, but he also used the time to investigate. The key is knowledge - ability - action.

Tzupy

legendary

Activity: 2170

Merit: 1094

Since most posters don't want to tell the OP the naked truth ( and don't want him to learn ), I'll say it again:
It was obviously a stupid move to buy close to the top of a bubble spike, and another stupid move
not to sell on the rebound after the crash ( which many people did ). That was a typical 'one mistake
leads to another' situation. So don't think I'm harsh on you, I made the stupid move to buy
in May at about 110$. That's because I was a total n00b back then. The right time to buy is when
there is ( most ) blood in the streets. And the right time to sell is when the market peaks ( these days ), then
wait for the bottom of the bear market and buy back more. These are very simple market rules, but most posters
want you to just hold to your overpriced coins. Well, maybe next year there will be another bubble spike.

Zaih

hero member

Activity: 504

Merit: 500

Quote from: Tzupy on August 27, 2013, 03:57:55 PM

I am sorry for the OP, but he acted stupidly. Selling at 150 would have allowed him to buy back at 100, then sell at 130
and buy back at 70, resulting in a doubling of his coins. OP, if you aren't willing to take a small loss in order to avoid a greater
loss and create the premises for a future win, you'll just have to wait until BTC grows enough to make a profit.

How is that stupid, how was he to know?...

There's no 'stupid' moves in trading in that manner, no need to disregard someone for such an obscure reason..

Bitcopia

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Haha ok so what I thought was patience and emotional control was actually just stubborn pride. Maybe you need a few more years. Wink

Either way, it's cool that you stuck around and educated yourself.

neutrinox

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Merit: 100

1MCKW9AkWj3aopC1aPegcZEf2fYNrhUQVf

Thanks for all the replys!

For the guy who wrote I acted stupidly, you are right in the way that I could definitely have made moneny in between if I knew something about trading and markets. But like someone guessed, this was the very first time in my life I invested in anything. And I got burned badly. With that psychology it was hard to do any more "wise moves". I was following the BTC course and making trading decisions in my mind. I was wrong more than half of the time. I'm not sure if I could have made the right moves trying to day trade.

If you want to know the truth, there was one thing that probably had the strongest impact on keeping me from selling at a loss: foolish pride! Cheesy

You see when bitcoin crashed I faced some serious ridicule from one asshole that knew I had bought into bitcoin. He was telling me with confidence earlier that bitcoin is bullshit, that it's a ponzi/pyramid scheme and all that stuff. And I knew he was wrong because I had studied bitcoin by then. But just imagine his smug face ranting at me after the crash! That was one of the worst "I told you so's" I have ever received. So this guy is probably the biggest reason why I just couldn't accept selling with a loss. Maybe I will thank him in a few years! Cheesy

Bitcopia

hero member

Activity: 715

Merit: 500

OP's attitude is amazing and right on point. It sounds like you might be new to the world of investing, as you made a rather rash and questionable decision. However, you definitely have the potential to be a great investor with this kind of patience and ability to control your emotions. Most people who bought in at $180+ are sore about bitcoin because they let their emotions get the best of them, and they want to blame somebody. You took the time to understand. And for that, I commend you sir.

thezerg

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What is interesting to me is that the time and pain may changed you from someone who was in it for a quick buck into someone who understands the value and potential. Now that you are in it LT, you might actually end up ahead, as compared to buying in at 180 and selling at 300 (for example).

BTW, its a good strategy to trade in securities/commodities with good fundamentals. That way if you get caught in a bull trap you can hold for the long term or even double down.

Topic: The thoughts of a bubble buyer - page 3. (Read 4965 times)