When is it safe to buy? | Bitcointalksearch.org

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

Merit: 500

Quote from: misterbigg on August 17, 2012, 11:11:20 AM

When can I buy with a reasonable assurance (confidence 7 on a scale of 1..10) that we're not due for a large (>20%) correction?

It's unknowable. But you can minimize your risk and the emotional rollercoaster by Dollar Cost Averaging. Divide your funds by 12 and buy one twelfth for each of the next 12 months.

http://en.wikipedia.org/wiki/Dollar_cost_averaging

humanitee

hero member

Activity: 1302

Merit: 502

No. Unless someone dumps their brains out.

Prognosis:

Joe200

sr. member

Activity: 317

Merit: 252

A lot of people who have been waiting for a correction or a slowdown to buy are buying today. Doesn't that mean that the last buyers are getting in? After this, there will be no more buyers? So the top is near?

stevegee58

legendary

Activity: 916

Merit: 1003

Be patient but BTFD.

ruski

full member

Activity: 350

Merit: 100

Quote from: evanesce on August 17, 2012, 11:15:43 AM

I dunno when its safe. But I bought at 14.83 this morning. I've been waiting for a week with usd in my gox. The more I waited the higher the price was. So I finally gave in at the high price
Whoever is with me. Let's have some luck.

Congratulations mr. panic buy, you bought in on the daily high!

That said, everyone is slowly realizing the same thing you did. This isn't a bubble (yet) and it doesn't look like we're going to get even a mild correction. If we do... lookout 'cos it's gonna rebound to the sky.

cheat_2_win

full member

Activity: 215

Merit: 100

Quote from: piramida on August 17, 2012, 11:17:25 AM

well you can confidently buy at $2. however, it may take some time (up to forever).

There are lots of buy orders at $0.5 from people who sold at $1.1 and have been waiting since. Cheesy

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: misterbigg on August 17, 2012, 11:13:02 AM

Quote from: proudhon on August 17, 2012, 11:12:03 AM

Umm, never.

That's about as helpful as a bull predicting single digits...

Ask an obvious question, get an obvious answer.

Nobody knows.

Personally I'd get in now, this shit isn't about to slow down.

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

well you can confidently buy at $2. however, it may take some time (up to forever).

Jutarul

donator

Activity: 994

Merit: 1000

There will always be a correction. The trick is to know what the "floor" is. Right now I think the floor is about $8-$9. But you can't tell whether and when it will be reached.

But the floor is gonna increase with time due to growing confidence in the system. If you have time you can be patient and wait for the next opportunity. But there's a minimal risk that your perceived floor is wrong and you miss the window. I'd say if the price hits $10 within the next 2 months that's another definitive buy.

evanesce

full member

Activity: 164

Merit: 100

Look ARROUND!

I dunno when its safe. But I bought at 14.83 this morning. I've been waiting for a week with usd in my gox. The more I waited the higher the price was. So I finally gave in at the high price
Whoever is with me. Let's have some luck.

casascius

vip

Activity: 1386

Merit: 1140

The Casascius 1oz 10BTC Silver Round (w/ Gold B)

Quote from: misterbigg on August 17, 2012, 11:11:20 AM

When can I buy with a reasonable assurance (confidence 7 on a scale of 1..10) that we're not due for a large (>20%) correction?

It is not knowable, any more than it's knowable where to put your chips on a roulette table with any level of confidence that it's not due for a 100% correction.

If you believe Bitcoin is going to strike it big in the long term, relatively speaking, it shouldn't matter much whether you get in at $10 or $20.

misterbigg

legendary

Activity: 1064

Merit: 1001