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Topic: Time to rapidly accumulate as many coins as possible (Read 5955 times)

KJO
full member
Activity: 173
Merit: 100
It's been my signature since July.

Poor zimmah :C

Oh well, things didn't turn out as expected.

Sad indeed, but I still think we will soon see improvement.

I think things are coming along nicely. I buy a few more coins each month during this accumulation phase. I have moved a 5% of my overall portfolio into cash ('waiting on the sidelines') in case we get a sudden dip into 3xx territory again in a final capitulation-retest-the-low type scenario. I am sure others are thinking the same and therefore it may not materialise.

Sentiment is terrible, bears/trolls are all over the forum spreading doom, people are variably bored and/or chucking in the towel and selling. At the same time bitcoin infrastructure, VC funding, merchant integration and simple webwallet services are surging ahead of user adoption. I think the market is working through the aftermath of two bubbles in a very short space of time. Who knows whether we bubble up again and retest the ATH soon or if there is a false start or two to go. My vote is on an ETF driven bubble prior to the next halving in early 2016. The longer we stay in this range the better anyway.


ye, the slower than expected growth does have a plus side, it gives us more time to accumulate bitcoin before it DOES leave behind 3 digits permanently.

I won't give a time prediction anymore, but i dare say that after the next rally it's unlikely we will drop back to below $1000 ever again.

Sadly, my fiat income is a little low at the moment, so i could not really buy much more bitcoin anyway, but every bit of dust counts.

hero member
Activity: 798
Merit: 500
Time is on our side, yes it is!
I'm hoping people take not that nothing has changed and Bitcoin is growing in many ways.  It's beginning to be hard to keep track of all the positive news.  This can't last forever, even if we go significantly lower in the very short term.  You can expect people waiting for cheap coins will push the price right back up quickly.  It's time to make a plan for acquiring Bitcoin before the opportunity to buy cheap Bitcoin has passed.
legendary
Activity: 1106
Merit: 1005
With the news of Paypal adopting bitcoins I'm waiting for the beginning of a new bubble.


The time it takes for the average Bitcoin user to first hear about it and then purchase some initially is long period, long enough that I expect this news to not impact the price until the end of the year. Eventually though, all of this good news will build too much pressure, and another adoption phase will trigger price growth. Once the average investor understands Bitcoin as an option and realizes it is in limited supply and increasing demand, the damn will brake. That is when many larger markets will enter into the currency and we will stat to see gaudy five figure valuations for a Bitcoin.

remember that during the boom of late 2013 many newspapers were filled with bitcoin news like never seen before.

For many people, that was the first time the heard about bitcoin.

We are nearly 1 year past that event.

legendary
Activity: 1176
Merit: 1000
With the news of Paypal adopting bitcoins I'm waiting for the beginning of a new bubble.


The time it takes for the average Bitcoin user to first hear about it and then purchase some initially is long period, long enough that I expect this news to not impact the price until the end of the year. Eventually though, all of this good news will build too much pressure, and another adoption phase will trigger price growth. Once the average investor understands Bitcoin as an option and realizes it is in limited supply and increasing demand, the dam will brake. That is when many larger markets will enter into the currency and we will stat to see gaudy five figure valuations for a Bitcoin.

This, this, this.

It is the monetary properties which will propel the bitcoin price into the stratosphere. That is precisely why I bought in last year. Mathematically fixed scarcity. It is why every bull and troll alike are on this forum.

We are in a phase where bitcoin utility has improved dramatically. (I bought a curry from across the road with bitcoin last night, showed a friend to demonstrate the process - he couldn't believe how easy it was, thanks bitpay). Soon you will be able to use bitcoin everywhere online.

Joe public is greedy and wants to make money through savings. We live in a time of perpetual ZIRP. Whether it happens all at once driven by an exogenous event(ETF, bank bailin) or in successive waves as in the past, bitcoin adoption will swell. It only has to reach 4 million active users globally for the price to bubble again.

Ask yourself this: if only 1 million people actively use a new digital private money globally, accounting for no real sales in the grand scheme of things, why are the biggest online companies in the world integrating it into there systems? Hint: fallllling is wrong!
hero member
Activity: 617
Merit: 559
With the news of Paypal adopting bitcoins I'm waiting for the beginning of a new bubble.


The time it takes for the average Bitcoin user to first hear about it and then purchase some initially is long period, long enough that I expect this news to not impact the price until the end of the year. Eventually though, all of this good news will build too much pressure, and another adoption phase will trigger price growth. Once the average investor understands Bitcoin as an option and realizes it is in limited supply and increasing demand, the damn will brake. That is when many larger markets will enter into the currency and we will stat to see gaudy five figure valuations for a Bitcoin.
member
Activity: 70
Merit: 10
if you wanting to accumulate coins now, then you are actually accumulating as much debt and financial ruin as possible!

Give up your false hopes!
legendary
Activity: 2772
Merit: 1127
With the news of Paypal adopting bitcoins I'm waiting for the beginning of a new bubble.

I'm waiting for huge sells walls, like it is happening now. But bigger
hero member
Activity: 798
Merit: 500
Time is on our side, yes it is!
In my honest opinion the only people that should be buying rapidly are the ones that are sure where the market is going to go in the future.  I don't know any of those people so all I can say is if you haven't done the proper due diligence to know where the price will go it's best not to poor more then you can afford to lose on Bitcoin.
sr. member
Activity: 322
Merit: 250
I started to FIAT cost average since we entered sub 600 territory and will continue to do so.
newbie
Activity: 12
Merit: 0
The trendline is still going down but I prefer to start buying some bitcoins now.
legendary
Activity: 1176
Merit: 1000
I think we are now in the final phase where coins can be accumulated relatively cheaply. Who knows how long it will last? I personally think we will move sharply up in the next few weeks or months.

Every day there is new positive news. The auction reinforced the friendly US position towards bitcoin. Several giant retailers have publically integrated bitcoin into their payment systems. Today it was the turn of Newegg.

Over the coming weeks and months I predict user adoption will start to move upwards sharply again. This will cause the price to rise. It will be front run by whales and big players.

A common theme is that bitcoin bubbles reduce in amplitude with each successive leap but I am not so sure. Once a battle for the ATH commences its off to the races.

It is time to speculate to accumulate! Ignore the bears and traders. Look at the big picture. Every single time in the past my only regret with bitcoin is that I didn't buy more when i had the chance.  Grin

(only invest what you can afford to lose!)


Says OP in July... it is now September








IGNORED


I stand by it. Fundamentals continue to improve.
hero member
Activity: 624
Merit: 500
I think we are now in the final phase where coins can be accumulated relatively cheaply. Who knows how long it will last? I personally think we will move sharply up in the next few weeks or months.

Every day there is new positive news. The auction reinforced the friendly US position towards bitcoin. Several giant retailers have publically integrated bitcoin into their payment systems. Today it was the turn of Newegg.

Over the coming weeks and months I predict user adoption will start to move upwards sharply again. This will cause the price to rise. It will be front run by whales and big players.

A common theme is that bitcoin bubbles reduce in amplitude with each successive leap but I am not so sure. Once a battle for the ATH commences its off to the races.

It is time to speculate to accumulate! Ignore the bears and traders. Look at the big picture. Every single time in the past my only regret with bitcoin is that I didn't buy more when i had the chance.  Grin

(only invest what you can afford to lose!)


Says OP in July... it is now September


IGNORED


It's only been a couple months. I won't dismiss the bubble callers entirely YET... but all the calls since early 2014 have failed so far. I prefer to see a reversal play out on the charts before turning bull again.
legendary
Activity: 1330
Merit: 1000
dafar consulting
I think we are now in the final phase where coins can be accumulated relatively cheaply. Who knows how long it will last? I personally think we will move sharply up in the next few weeks or months.

Every day there is new positive news. The auction reinforced the friendly US position towards bitcoin. Several giant retailers have publically integrated bitcoin into their payment systems. Today it was the turn of Newegg.

Over the coming weeks and months I predict user adoption will start to move upwards sharply again. This will cause the price to rise. It will be front run by whales and big players.

A common theme is that bitcoin bubbles reduce in amplitude with each successive leap but I am not so sure. Once a battle for the ATH commences its off to the races.

It is time to speculate to accumulate! Ignore the bears and traders. Look at the big picture. Every single time in the past my only regret with bitcoin is that I didn't buy more when i had the chance.  Grin

(only invest what you can afford to lose!)


Says OP in July... it is now September








IGNORED
newbie
Activity: 27
Merit: 0
With the news of Paypal adopting bitcoins I'm waiting for the beginning of a new bubble.
legendary
Activity: 1106
Merit: 1005
It's been my signature since July.

Poor zimmah :C

Oh well, things didn't turn out as expected.

Sad indeed, but I still think we will soon see improvement.

I think things are coming along nicely. I buy a few more coins each month during this accumulation phase. I have moved a 5% of my overall portfolio into cash ('waiting on the sidelines') in case we get a sudden dip into 3xx territory again in a final capitulation-retest-the-low type scenario. I am sure others are thinking the same and therefore it may not materialise.

Sentiment is terrible, bears/trolls are all over the forum spreading doom, people are variably bored and/or chucking in the towel and selling. At the same time bitcoin infrastructure, VC funding, merchant integration and simple webwallet services are surging ahead of user adoption. I think the market is working through the aftermath of two bubbles in a very short space of time. Who knows whether we bubble up again and retest the ATH soon or if there is a false start or two to go. My vote is on an ETF driven bubble prior to the next halving in early 2016. The longer we stay in this range the better anyway.


ye, the slower than expected growth does have a plus side, it gives us more time to accumulate bitcoin before it DOES leave behind 3 digits permanently.

I won't give a time prediction anymore, but i dare say that after the next rally it's unlikely we will drop back to below $1000 ever again.

Sadly, my fiat income is a little low at the moment, so i could not really buy much more bitcoin anyway, but every bit of dust counts.
hero member
Activity: 624
Merit: 500
I agree, while the price is low it is always wise to accumulate as many as you can but rapidly may be a bit too extreme I feel.

Ditto that. If you don't think you can beat the market, then dollar cost averaging spaces out your risk over time. If this is a shorter term bear market within the longer term bull trend, then piling in at one price is not a great idea (unless you know what you are doing, of course Tongue).
sr. member
Activity: 406
Merit: 250
I agree, while the price is low it is always wise to accumulate as many as you can but rapidly may be a bit too extreme I feel. We have been doing this since day one though when the price has been at a low, it's a case of buy while you can, when you can and wait for a rise.
legendary
Activity: 1036
Merit: 1000
I'm trying to buy as many btc as I can while they are under $500, I don't think we will ever see these prices.

Good strategy!Buy,HODL and you will profit. Smiley
member
Activity: 70
Merit: 10
I'm trying to buy as many btc as I can while they are under $500, I don't think we will ever see these prices.
sr. member
Activity: 541
Merit: 362
Rules not Rulers
Bitcoin will be as valuable as land in time, cos when the final bitcoin is mined, "they don't make 'em anymore". By that time there would be million dollars bitcoins easily

Most of us won't live to see the last satoshi mined.  Smiley


In 2050 i will spend 1 BTC to buy new body, with an offline blockchain backup of myself just in case
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