Topic: Well, it was fun while it lasted (BTC to $200... LTC to $10) (Read 3196 times)

Well you have now been offered not one but two golden opportunities to buy the dip with that 1M.

If you truly believe in the future of Bitcoin what more are you waiting for?

EDIT: This is not financial advice 

If litecoin goes below $8 I stop mining and start buying.

I'm pretty happy about it. I sold most of my bitcoins between $200 and $400 and now will be able to buy back a few coins...

if btc goes to $200, noways LTC will be $10, try $2 to $5

I like you, oldtimer


Then I would have held on to make more money and watch it crash again. It's around $630 right now... good time for you to buy

dude, if you would have bought in when i told you with your $1M (last crash to $650) you would have made a killing when it went back to 900+.  life doesnt give you many second chances. if i had a bitcoin for every time i've lost faith in this market i'd have all the coins.  this market never ceases to suprise me. it will get back to $1000.  maybe not this year, but it will recover.

If you posted this in 2010 I would have agreed with you. Back then, BTC was just a speculative bit of fun. Today its serious business with major players and new ones discovering Bitcoin every day. The day of $100 BTC is well & truly over and will never return again. Let the sellers sell and go invest in something more 'stable' like Apple stock. Let them make their miniscule profits & losses. Bitcoin is changing the worlds money system and you can come along for the ride & long-term make some massive profits, or you can sit back in a world of regret & tell your grandkids one day how you once bought Bitcoin for $1000 but sold out because it dropped $100.

As for me, Im holding, & am off to email some oil sheiks in Arabia to tell them about Bitcoin.  

I was super piggish back then but now i'm having fun watching the fireworks 

I remember it being just as fun @ 200, so no biggy.

then watch it plummet into the 400's 

Then you should spend your Dad's money now that we're in the $600s. 

Nope, I bought more since then and i'm gonna hold them as long as I can

What flip-flopping are you talking about? I still think bitcoin is headed "to the moon" in the long run. But then again what do I know.

Absolutely.

And not all rich parents hand obviously fickle children $1m to invest.


Edit: I'm obviously being overly harsh. Just bugs me when people don't recognize the great opportunities/advantages they have, and/or lack any ability to think for themselves and execute on them (as is evidenced by OP's "to-the-moon" --> "the sky is falling"  flip-flopping).

i believe what he meant that even if your parents are rich, it's not always the case that he's living a rich life. He's probably living by himself, trying to make his own fortune with his own work and money, paying rent, utilities, food, etc. Maybe he lived through hardship while trying to make it.

Not all rich parents buy you a nice home, a car and a monthly income.

Looks like OP sold off his 10 Bitcoins that he bought at ~$650 for $900, thus "trying" to spread panic to buy evern lower.

Are you really that naive (rhetorical question)? If you have access to someone handing you a $1m, you ARE indeed the wealthy elite, regardless of your particular net worth. Talented entrepreneurs, who think deeply for themselves, aren't fickle and reactionary, develop real skills, execute products, etc, etc, struggle to raise $50k in seed money for promising ventures. Your dad handed you $1m to "invest".

You have access to incredible advantages in life (which is fine - a huge incentive for people to get rich is to give a better life to their kids, so I'm not making a social-justice argument here). The fact that you thought better of using your dad's money (without his knowledge, no less) on bitcoin at least shows *some* inkling of maturity developing. But your increasingly fickle posts about bitcoin indicate that you lack any depth or conviction at the moment. I suggest you work to rectify that. Think hard. Intellectually investigate all avenues and potentials. Really understand what you're doing. As I noted, you have access to easy capital that few do. I hope you become able to rationally take advantage of it.

+1

I didn't do it, I realized I was blinded by greed and hype and I was not thinking much about the consequences. I can afford to risk my own money on something like this but not my dad's. I would be crying right now if I did. And newsflash, just because your parents have money doesn't mean you do.


I have no intention of selling, I would be feeling really good right now if we weren't going through a huge bear phase but oh well. I still don't think bad news from one country will affect bitcoin forever.

The only way BTC will completely go down the drain is if everyone gets rid of it or if there's a fundamental flaw or bug in the bitcoin protocol that we have not seen yet.

Never listen to the Bitcoin nutters!

I don't, but I am also a Johnny come lately to BTC speculation (been buying xtc and dmt with $10 BTC on the darkweb for yonks though), and if I paid the slightest bit of heed to the hoards of reactionary drunk on avarice idiots on Bitcoin forums, I would most likely be joining you down the local park lavatories, giving out handjobs at £10 per go.

Don't don't don't and do not ever listen to the raging Bitcoin fundamentalists on this or any other forum!

Last night, I read some post somewhere 'predicting' the price to rise 'now that its Monday and fresh money can get into the exchanges'. I thought about challenging this particular nutter on this completely unfounded assumption but I just didn't have the energy. There is too many of them and they call the tune on the forums across the internet, although not on the Bitcoin exchanges themselves, where it really matters.


On that note however, don't delude yourself into thinking Bitcoin is going down the tubes. It isn't. Save for an 'event' it is here to stay. Even if this China drama drives it down to $100 (I don't personally believe this btw), Bitcoin will remain and be utilised as an important and useful tool to many people who will be willing to keep pumping liquidity into it. My brother dived into Bitcoin at the near top of the April 2013 bubble. He ended up selling at some point in the bear trend that succeeded it, and made a 60% loss. Had he just held until even now, post Nov/Dec double top, he still would have quadruppled his money within the space of 8 months....not fkn bad going really!