Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33397. (Read 26462480 times)

lol, are you different ?  Do you want to buy high and sell low ?
1. if you believe in Bitcoin buy and hold.
2. if you want more btc/usd then trade but some win and other must lose.  
3. wait until price rise high enough and will be stable and hard to manipulate it ( maybe 5-10 years )

Sweet Jesus it brings a tear to my eye to see weak bears leave.

That's like saying, “I used to invest $5,000 in BTC when it got me 65 coins, but now it only buys me 40 coins, that sucks!”. If you’re investing in BTC, that’s a good thing. It means they’re worth more. Lets say you take $10,000 to invest on NASDAQ. Hmm, Google, $880? Fuck that. Groupon, $6? Much better.  But wait, you could buy penny stocks and own 50,000 shares! Holy shit ballz!

BTC has been over $100 most of the last 2 months. People didn’t have a problem when we had plenty of volatility. People don’t like it now, because woops, the volatility didn’t bail you out. So you’re faced with buying back at a higher price point and having fewer coins. Then you’d have to deal with the realization you shouldn’t have sold. Instead of facing that fact, you’d rather go trade another Cryptocoin. I could use $5000 to buy 44 BTC, or I could buy 1,500 Litecoins! FUCK YAH IMMA MAKE IT RAIN LITECOINS!

If that 44 vs 1,500 makes it look like a better deal, heading to litecoins is probably a good idea. However I’d suggest instead of $5,000, drop your investment pool down to like $5. Emotionally that’s a much easier number to deal with when trading.

This is how I imagine weak bears moving to other markets to trade because triple digit BTC rocks their world.

Fully aware of the manipulation in 'regulated' markets ... took a while to learn enough to understand that the dynamics of Bitcoin were at least as bad

what do you expect from an unregulated market populated with a fairly large number of intelligent members? EDIT - I mean: populated by a decent demographic of early adopters with large number of coins, who, if they decided they wanted to manipulate the market probably have the brains and the skills to do so.

how much manipulation do you think goes on in regulated markets?

engaging story. thanks

And in a way, it sounds like a slightly unluckier version of my own story. Difference no.1 is that my fiat took a few days longer to arrive, so I saw the 26x bubble pop before I could buy in (and to be honest, I probably would have bought in :/). Difference no.2 is that I had narrowed down the possible exchanges to bitcoin-24, bitcentral and bitstamp. I was lucky to pick the third. (although I am aware that no exchange is really secure)

I am disillusioned by just how much manipulation is going on ... it has not cost me anything, but it gives me less faith in Bitcoin and raises the risk premium

Seems to me that hypothetically if fiat was replaced with Bitcoin we would just we changing one set of masters for another. And I am not yet convinced that these new ones would be any better.

yes, but also irritated and disillusioned by the market for being so very easily led.

CASE STUDY - I bought in at 235. Pure greed. Before I even understood what bicoin truely was.

stop loss sold on the way down, luckily played the bounce from about $77 - $159... lost money in Bitcoin-24 fiasco, lost some profit in continued crashes after the $165 high.

BUT I'm not about to leave the market now that I know what bitcoin is... it's not about leaving the market and cutting losses... as far as I'm concerned once you are in you are in, once you understand bitcoin you have no real reason to totally leave the market. It's too much of a mental investment as well as financial.

After a month of chart watching, following news and learning more and more about the past and potential future of bitcoin, I decided that trading is not for me, it's a small part of the game. I just took 1/3 of my (now 25% up) money out of Gox via coins to Bitstamp and hopefully fiat in my account next couple weeks. The rest is all in, for the mid/long term. If Bitcoin-24 resolves it's banking issues and the market continues to price bitcoin lower, I'll use that money to buy more coins lower (as many people definitely want to do).

To me, unless you really think it's worth day trading bitcoin in the long term (which is probably the case for many in this subforum I know), that's the sort of thing anyone who's recently got involved with Bitcoin should be doing, making an investment and holding onto it, allowing the next 6 months to take it's course now that the world is paying attention and the infrastructure truely starts to develop.

Personally I'm emotionally and physically exhausted from my bitcoin discovery but there is no way I'm leaving the market, and this price seems fair... even if it drops to $50 it will most likely go up again anyway (touch wood). Even if it's not legitimised and the regulatory grey area resolved in the next 6 months, I'm sure there will be some use for it in the long run. But given the strength of the community and it's word wide nature, bitcoin will not fade away and I think many people should recognise that after having invested the time to understand what they are investing money in.

EDIT - having read a couple more of the recent posts in this thread, yes, it may also crash and burn into nothing, but how many of you thought that in 2011? From the media spin and the investments going on at the moment, I don't think it really will. Perhaps Im just trying to convince myself this risky investment is worth it. If that is so, I've done a good job.


excuse the long fairly off topic post

1. because big players created feeling of fear and pain by pumping and dumping.
2. they will collect cheap coins now. No one was willing to sell before :-)

Unfortunately I think that is the least likely outcome  
But yes, the convo is a bit of the other side of why some of us are not buying now. A lot of people have been speculating as to why some may or may not buy, and that we would all chase after the train if we rally from here. Been hearing a lot of that the last few days.

Yeah well I have my doubts about the legitimate effect of bitcointalk forum posts on the markets.  But if that's how people are making their buying and selling decisions, I guess more power to em.  We're just off topic because we're bored.     I'm going to the beach...must..get...away!

I'm sure. It is very hard to destroy Bitcoin. But it is easy to manipulate people.

I hope you're right because I see everyone here as early adopters and then there are the prehistoric adopters.     I don't want ANYONE to lose.  This whole convo is simply a glimpse of the sentiment of some not buying or waiting for lower prices.

Do not worry $260 are quite cheap coins.

   

It's funny, I worked pretty hard convincing the wife and as I've started to pull back a bit, the same conversations are happening.  I literally laughed out loud when I read your post.  Now the pressure is coming from her instead of the other way around.

As far as I understood this, your problem is the psychological barrier of "one unit for over 100 dollar", right? But does it really matter? I don't care if I get 1 BTC for 100 $ or only 1 for 1000 $, all that matters for me is the relative value and it's change: 20 % value gain is 20 % value gain, even if I pay 300k $ for "one unit", isn't it?

But I feel with you. I support that mBTC "movement".

Don't get me wrong, the potential is definatly there.  We all get that.  But ALOT has to go right and almost nothing can go majorly wrong for this to be true.  These are of course my opinions and I'll be PROUD to eat crow if $100k coins becomes a reality.

Mine is actually interested. which is even worse:

me: [long-winded explanation that explains why I expect btc market cap to be at least as big as market cap of a company like Paypal in the medium term]

she: but from what you described, btc is a like a currency. then why do you compare it to the market cap of a  company, based on share price?

me: damn woman. why do you ask difficult questions? can't you just cheer me on?