Topic: Time to dump BTC now I say... - page 4. (Read 10031 times)

What is your target for the bottom?

We tried to warm many users. BTC was $850 1/15/14 now $65 cheaper and next week another $100 cheaper. Buy the dip sure but sometimes you gotta cut losses and rebuy lower (if you have no fiat on exchange)  to lower your cost average. Some who listened just lowered their cost average by $65 in just 2 days. Not bad eh?

Not at all. Not even in the slightest. They could disappear tomorrow for all I know.

Well yeah, if all you do is hang out in the speculation sub forum, all you are going to hear is greedy bastards talking their book. Duh!

Bitcoin is doing just fine. There have not been any protocol changes which has turned it into the "financial status quo". Anyone is free to use Bitcoin as they see fit. The tool does not choose it's users.

So you don't trust Bitfinex to actually debit my account of the 'inevitable' losses that I wish to inflict upon myself by foolishly shorting Bitcoin?

Trust issues.

Anyone who sold at the OP is sitting on some nice paper gains at the moment! Now we wait for that buy signal!

I 'believed' in Bitcoin three years ago but was always too lazy to make a wild card investment to support the 'cause'  as it wasn't so easy to do back then and Mt Gox seemed like the fkn shady two-bit operation that it has proven itself to be. I also didn't like the idea of having my CPU tied up 'mining'.

As soon as Britcoin/Intersango came around and more importantly, as soon as I became aware of Silk Road, I started buying and spending Bitcoins, hundreds of them! I always intended to make a small 1000 GBP wildcard investment into Bitcoin (I was putting a lot into precious metals at the time), but whenever I did, the coins inevitably made their way to some Silk Road vendor.

I then stood back aghast as Bitcoin soared from $10 to $260 in the space of three months. After the waters calmed, I bought 15 Bitcoins on LocalBitcoins at around $120 each (70GBP). I went offshore and  when I returned, I noted that my investment had near trebled in value and decided to sell. That night, I had a dream that Bitcoin popped through $600 on MtGox (see, I was up until very recently, a bull), woke up in a foul mood (I knew from my dream that I had been a fool to sell my BTC), noticed the price at around $400, some $50 increase on what I sold at, and immediately went about getting myself set up on Bitstamp (premiums on LocalBitcoin were like 30% and I was refusing to pay that). By the time I made my first tentative steps as a Bitcoin speculator some 11 days later, Bitcoin was trading at not $600, but $700 dollars.

So, I have completely missed the boat due to my lack of speculative mindset. By the time I did enter into Bitcoin as a speculator, Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice.

So no, I no longer care or 'believe' in Bitcoin. Bitcoin has become what the community who has adopted has made it.

I'm in for the long-term, with what I can afford, because I like this experiment and I think it has got a whole lot more blowing up to do! Can I ask, do you actually believe Bitcoin will be around in a year or not?

Then why not put your Bitcoins to work by lending them out to short-sellers?

That way, you keep your Bitcoins and earn interest on them and of course, it will be water of a ducks back to you when Bitcoin hits $600 range and you get your Bitcoins back some $150 less valuable than they are today, right?

No thanks! The thing is, I don't know if you've understood this yet about me but I'm not a day trader. I've invested in Bitcoin because of the fundamentals. It's not the daily swings that I care about - you know yourself trying to time these is like walking through a minefield blindfolded.

Still managed to get in cheap by today's price though! 

It might be available, but there are absolutely no suckers willing to take the other/wrong/shitty side of the short trade.

Perhaps a couple of days ago when Bitcoin was suggesting that it may break out above the $850 level, then short selling may have been possible for quite a few traders, but just now it isn't. If you are so confident in Bitcoin, why don't you get over to Bitfinex and you can lend me some of your Bitcoins that u will obviously get back with a whole pile of interest payments as Bitcoin 'inevitably' goes 2 da moon over the weekend, leaving me sorely out of pocket?

Go on, be a man!

Please?

Pretty fucking please?

Actually shrotting is already available. I'm surprised you don't know this!

Actually, a monkey couldn't short Bitcoin right now cos although the option exists, it seems that nobody is willing to 'loan' the Bitcoins required for a short trade.....

.....and why would they? Loaning Bitcoins to a short seller would be very bad business for the Bitcoin owner. Bitcoin market needs to grow a whole lot more before things like 'shorting' become a tenable and viable option.

A monkey could SHOTR bitcoin now and become extremely wealthy.  All he'd have to do is just read all the confirmed bad news, preferably in Russian and Chinese.

and can I link it with my Bitstamp account as the front page info on Bitfinex seems to suggest?

Bitfinex

How does one short bitcoin?

I would be well up for that if I knew a way to do it. Such a fkn certainty.

+1

i've yet to see someone do that

Please let us know your SHOTRING successes so that more people will understand how profitable it is based on these excellent analysis.

don't forget to announce when the time to pick up lower comes, please be unique and do that, don't run away