Topic: xx - page 4. (Read 6362 times)

I considered short term trading but it really is better to hold for a few months
if i do go all in, i probably will hold for 6-12 months

no mt gox, i heard about their withdrawl issues and maybe if I had a Japanese account or something to get funds quicker, maybe i would go with them
coinbase seems best because i could add my bank account

yes, buy some tomorrow

tomorrow you will have nothing.

Check the price.

Price just tanked, again. We're in a bear market. Lots of confirmed bad news. Still keen on throwing that $12,300 away?

 

You work hard for that 12K?

How much would you want to banjo these fkn twats for telling you to buy right away and hold no matter what, when you are sitting watching Bitcoin 'consolidate' in the $400 - $500 range in a few weeks time from now? Market is very weak at the moment, with lots of people thinking that it is actually being artificially held up. I also think this but today, the floor just got taken away from under Bitcoin's feet. If another serious bit of selling pressure comes along anytime soon, then this market is going much lower.

Look at the chart formations, look at Bitcoin's price history, look at how other assets have generally performed after parabolic rises, followed by a crash and partial recovery.

Figure out what the important resistance levels are and only be prepared to take the plunge when Bitcoin shows that it can reach and convincingly breach these levels with gusto. Right now, if Bitcoin takes out $835 on Bistamp, on high volume, with great appetite for coins still at this price level, then that might be a time to consider investing.

Don't invest in Bitcoin until it proves itself to be going in the right direction again and please don't, don't, and simply do not listen to the Bitcoin Nutters on this forum. Most of them are sitting on coins they got for less than $100, whilst they are practically commanding noobs to pounce upon $800 coins, telling them "get me while they are still cheap". These people need to be asbo'd.

I had some memorable run-ins with Bitcoin Nutters when I announced that I was selling $1100 coins in $1000 range in order to minimise damage. i got slated left right and centre for that and we all know what happened next.

Use your head, don't buy into the hype stories, just as you should guard yourself against the blatant fear mongering, although 'bear meterial' is definitely scarce in Bitcoin land.

As for which exchange to go to. Bitstamp has very limited trading options with no straightforward means of even setting a stop loss, but with that aside, it is the only exchange that I quite frankly feel I can trust. Bitcoin is littered with exchanges disappearing with all their customers Bitcoin and Geld. If you are just intending on being a straight forward buy n hold Bitcoiner, go straight to Stamp.

Never invest more than you can afford to lose and are ready to lose 100% of. That means certainly don't invest "everything you have", at ANY price.

wait for a dip before u buy

I second that Coinbase is a good choice.  Whatever you decide to do, I would go ahead and get your account set up with them and buy a tiny bit of BTC NOW.

The reason being, there is a waiting period of 30 days while they verify your account and KYC stuff.  You start at level 1 and have a purchase limit of 10 BTC/day for the first 30 days.  Then after that, once you reach level 2 verification, they raise the purchase limit to 50 BTC/day.

If you have a lot of BTC that you want to buy, and want to get the price you want it at, then I would definitely get this process with them squared away FAR ahead of schedule.  

Ask me how I know this.  

I 2nd this.  You should try to get your dollar cost average the lowest.  If it is money that you potentially need back quickly, you should have an account at coinbase as well, or somewhere that allows easy withdraws to your bank.  Therefore no Gox, as you could be waiting until next summer just to withdraw any funds.

yes this is exactly what I have been thinking as well

truth. Im buying every coin I can as I get funds to do so, because I think the odds of it falling in price are much lower then it raising in price and in 6 months to a year everything sub 1k will have been a blessing.

Thing is, price change comes in waves. It shot from 130s to 1100+ in just a few months and found rest where we are now, around 800. History has a way of repeating itself, and for all the talk of bitcoin being unpredictable, it's not. It's pure supply and demand, and the demand keeps going up. Next swing will make anything below 1k look cheap.

i am not russian, i was making a play of words with toysrus
but that would be clever

i have read all the comments
and this is what I have taken from it.
someone said buy some now and buy some later.

i remember reading on the forum that someone bought at 1000
lets say that person bought 10btc at 1000 or 10,000
if he sold at 800, that means he lost 2,000

if he had bought 5btc at 5,000 (1000 a btc)
and bought 10btc at 5000 (when it was 500 a btc)
then total of 15 btc for 10k

if he sold now at 800
that would be 12,000
netting total of 2k profit

i totally agree with this sort of diversifying your assets.

thanks for the suggestions and this advice really helps me

It is pretty hard to cease an anonymous paper wallet or a anonymous brain wallet 

The guy's username is bitcoinsrus. Which means, he's in Russia. Which means, Btc-e is one of the best choices for him. You could try wm-center.ru (that's where they moved I think), I had some good luck with them.

Doing international transfers out of Russia is pretty difficult, anyway.

I would probably join the others in saying that nobody knows for sure where BTC would go and when, but in case it goes up, which is very likely, it's a good idea to have some savings in there. May also help in case the guys in the government decide to ban USD accounts (I heard a few rumors)

Yes, the OP should keep up to date with the news, but avoid day trading. If you get hooked on the news, the forum etc. then chances are you are going to day trade and we all know how that will end if you do not know what you are doing.

Right now BTC is a gamble with a big chance of winning. The tech is a breakthrough. If it will get banned, it will go underground only to emerge more powerful in 5-10 years.

But as usually please do not believe everything is written here.
My advice would be, do not go all in, buy a few coins and wait. You wont have regrets if it goes to the moon and won't commit suicide if it goes to 0.
Win/Win.

I don't believe we will hit 2k by the end of april, but I believe a price above 5k this summer is very likely.

I would buy 1/3 now, 1/3 after two weeks and the last 1/3 after four weeks.

I may suggest a few ideas :

-You could buy a few BTC then wait a few months before buying more in case the price drop, then buy some more and wait a few months again
-Send some of your BTC to a paper wallet
-Diversify a bit and buy an once of gold
-Don't send the whole 12,300$ to an exchange at once
-Make sure that you won't need any of the 12,300$ anytime soon, if you do think about investing less

also importantly, one needs to keep up with the technology, lest a significantly better coin is developed.

Bitcoin is not something you can just keep without checking the news on it at least weekly. It would be idiotic to buy bitcoin and not keep up with its developments, especially with all the regulators across the world looking into it right now.