Read The Forum Rules: We have a clear set of rules to keep the forum running smoothly. Click here to review them.

Post Reply 
The Bitcoin (BTC) thread
Author Message
yolo Offline
Sparrow

Posts: 62
Joined: Sep 2013
Reputation: 1
Post: #2026
RE: The Bitcoin thread
I like that analysis better. Do you believe that all crypto currencies are doomed? Because this invention can't be uninvented, and because Bitcoin is leading in 1st place by a wide margin, I think the probability of it failing completely or being replaced by a superior crypto is slim. If everybody was in it to make a quick buck like yourself then the crypto would have been long dead. But, I believe there are many people out there like myself who believe in the crypto not just to make a quick buck, but to also revolutionize finance as we know it. I'm enjoying the ride, and I'm gonna quote the Winklewi twins when asked if they had ever sold their bitcoins, "no, never. Spartans hold." I'm holding the bitcoin that I have for the long term. I even have some in my retirement portfolio (of which I can cash out at anytime). My point is that in 10-20 years if cryptos exists, they will be worth much much much more than today assuming critical mass adoption. Will Bitcoin be replaced is my only fear, but even if a more "superior","more VISA scalable" crypto emerges, given Bitcoins history, I think it will still remain in circulation, perhaps like a store of value currency with less velocity.
02-10-2015 09:59 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 2 users Like yolo's post:
Master Of My Own Kingdom, JayJuanGee
Alche Offline
Robin
*

Posts: 127
Joined: Jan 2015
Reputation: 1
Post: #2027
RE: The Bitcoin thread
The alt coins suck, they wont replace bitcoin. I would say 80-90% of investors in alts are speculators with 10% of people holding onto the coin losing all their money. I have seen it happen so many times.

But what exactly is going to make the price rise? Why should a business add a new layer of risk and accept btc as payment when they already have a fully working bank account. What other value can btc provide? Answer is not much. Bitcoin is not google or apple, its currency.

As for the btc price going above $1k, that lasted less than two days, so either a whale came into the market at that point and manipulated the price or there was some good news that turned out fake is my guess.

'in the face of death.. everything is funny'
02-11-2015 03:11 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2028
RE: The Bitcoin thread
I found the below linked articles to be very interesting in terms of various Bitcoin headlines, including getting a front-page acknowledgement in the wallstreet journal.

https://www.cryptocoinsnews.com/bitcoin-...t-journal/


http://www.newsbtc.com/2015/03/02/wall-s...in-future/
(This post was last modified: 03-03-2015 03:34 AM by JayJuanGee.)
03-03-2015 03:28 AM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2029
RE: The Bitcoin thread
(02-09-2015 06:26 PM)LÉtranger Wrote:  My last post here was on page number 50, just checked in bitcoin price at 220$, and wondering who actually is in profit since the beginning of the thread?


Who cares? Are we running some kind of competition or contest to show who's right and who's NOT?



(02-10-2015 01:30 AM)Alche Wrote:  Guys, the price is going down and is going to continue going down, I sold at $700. There will be some upswings in the short term but overall the coin is dead. I think buying in around $50-$70 would be a good amount for a short term gain.

But by all means keep burning your money Smile

Thanks for the friendly "advice," yet I believe Yolo largely responded to your nonsense with his comments regarding the difficulties that exist regarding predicting exact BTC price directions, unless someone happens to be some kind of whale (and even then such a whale may have some difficulties to sustain BTC price movements).


(02-10-2015 08:42 PM)Alche Wrote:  40% chance it will drop to $50-$70 in next two years, 75% it will drop < $180 this year. I go on history/trends, perception of people's mindsets, bullish & bearishness.

I'm not prepared to place my money into something that 'could die' since I have no control over that outcome. Bought in once and made some good money but probably won't buy in again unless price is sweet. But hey that's me, go for it make it rain dollar bills and prove me wrong.

It appears that these probability predictions are pulled out of the sky, even though there is some claims to understanding the BTC "history" and/or "trends." There is too much going on in bitcoin behind the scenes to base a prediction on some kind of history and/or trends without some deeper analysis. Additionally, bitcoin is quite different from a lot of different innovations, and accordingly, bitcoin is a paradigm shifter with considerable upside potential. Whether that considerable upside potential is realized or NOT has a lot to do with a variety of factors that are including but not limited to political, economic and technical as well as trends and history.

Regarding the perceptions of people and the market, those can change on a dime and it is NOT easy to measure perceptions because bitcoin is world-wide and there is a large amount of learning about bitcoin and new exposure. So, for example, some rinky-dink country or company or group of people could become extremely excited about bitcoin and begin to put a large portion of their assets into bitcoin, and if such a movement were to happen, then such a movement would have rippling effects throughout the bitcoin space and throughout the crypto-currency markets. Those kinds of movements are NOT easy to predict, and they could happen today or tomorrow or they may NOT happen for several years, if at all.


Regarding "proving you wrong," who cares. We do NOT need to compare our dick sizes or our predictive powers in regard to bitcoin because NONE of that is really that important. Hopefully, in the end, guys are able to participate in this thread in such a way in order to become better informed about bitcoin and the various bitcoin dynamics in order to make various choices regarding investing or NOT... or even choosing to short bitcoin at some point (since in the last year or so there have been added various vehicles to "short" BTC).


(02-10-2015 09:59 PM)yolo Wrote:  I like that analysis better.


hahahahahahaha, Yolo. You seem to be giving Alche too much benefit of the doubt to suggest that he is engaging in some kind of genuine analysis rather than just throwing out a bunch of random opinions that seem to border on trolling. Anyhow, there is NOTHING really wrong with being polite to guys, even if they seem to be somewhat out of touch with their commentary (referring to aspects of Alche's posts).
03-03-2015 03:46 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2030
RE: The Bitcoin thread
(02-11-2015 03:11 PM)Alche Wrote:  The alt coins suck, they wont replace bitcoin. I would say 80-90% of investors in alts are speculators with 10% of people holding onto the coin losing all their money. I have seen it happen so many times.

But what exactly is going to make the price rise? Why should a business add a new layer of risk and accept btc as payment when they already have a fully working bank account. What other value can btc provide? Answer is not much. Bitcoin is not google or apple, its currency.

As for the btc price going above $1k, that lasted less than two days, so either a whale came into the market at that point and manipulated the price or there was some good news that turned out fake is my guess.

From the above bolded comment "What other value can btc provide?," it appears that you have NOT read through this thread or other RVF bitcoin threads or otherwise become very informed about the various value aspects that BTC can provide. You are right that BTC is NOT Google or Apple; however, bitcoin is more than merely a "currency," also.
03-03-2015 03:46 PM
Find all posts by this user Like Post Quote this message in a reply
Emancipator Offline
Ostrich
****
Gold Member

Posts: 2,244
Joined: Jan 2013
Reputation: 26
Post: #2031
RE: The Bitcoin thread
Been slowly selling .25btc weekly, at a profit

Exiting half my original stake (btc earned for goods/services being kept)

The reason why I'm selling is due to currency, my btc holdings have actually gone up due to the fact that the USD (which i sell my btc for) has been crazy strong past few months. Planning on a road trip thus building up the USD funds


Still bull/long on btc overall !

Mother Nature is a bitch & Father Time has an undefeated record
"If you watch cinderella backwards, its about a woman who learns her place." --Kbell

demographics is destiny
03-10-2015 12:14 AM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2032
RE: The Bitcoin thread
(03-10-2015 12:14 AM)Emancipator Wrote:  Been slowly selling .25btc weekly, at a profit

Exiting half my original stake (btc earned for goods/services being kept)

The reason why I'm selling is due to currency, my btc holdings have actually gone up due to the fact that the USD (which i sell my btc for) has been crazy strong past few months. Planning on a road trip thus building up the USD funds


Still bull/long on btc overall !


Surely, I have NO issues with taking profits, and surely it is good to get diversified in some cash if you have too much in bitcoin - especially when prices are going up from where they were before. However, you run the risk of NOT being able to get back in at low prices if BTC prices shoot up to $333 or some higher price, for example, and do NOT come back down in a way that allows you to buy back in.

I don't think any of us know exactly where the btc prices are going to go, even though they do seem to be trending upward in recent times and maybe even upward in the upcoming months..
03-10-2015 12:27 AM
Find all posts by this user Like Post Quote this message in a reply
Satoshi Offline
Banned

Posts: 885
Joined: Nov 2013
Post: #2033
RE: The Bitcoin thread
I bought some in January and some more in February but if this rise continues I might not buy anything this month. The price can stay low a while more, I wouldn't mind.
03-10-2015 01:57 AM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2034
RE: The Bitcoin thread
More radical bitcoin price movements today... ? What to do?

My girlfriend is suggesting that she may buy some if the price goes into the lower $240s, but I will believe it when I see it. I have just been holding lately since I have had some unexpected cash flow issues recently and working on some business matters in an attempt to restore various cash flowing matters.

Maybe in the coming months I will be able to start buying again, or maybe I will just continue to hold... if some of my cash flow issues do NOT clearly resolve within that time-frame?

What are other guys doing? Any prognosticating based on real factors in the BTC marketplace? Any informed or well reasoned insight into the current price direction?
03-19-2015 01:34 AM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2035
RE: The Bitcoin thread
(03-19-2015 01:34 AM)JayJuanGee Wrote:  More radical bitcoin price movements today... ? What to do?

My girlfriend is suggesting that she may buy some if the price goes into the lower $240s, but I will believe it when I see it. I have just been holding lately since I have had some unexpected cash flow issues recently and working on some business matters in an attempt to restore various cash flowing matters.

Maybe in the coming months I will be able to start buying again, or maybe I will just continue to hold... if some of my cash flow issues do NOT clearly resolve within that time-frame?

What are other guys doing? Any prognosticating based on real factors in the BTC marketplace? Any informed or well reasoned insight into the current price direction?


Anyone currently witnessing what appears to be a fairly high volume morning downturn in BTC prices?

In the last week or so, prices have been largely floating in the $250s and $260s and NOT really stellar volume, and this morning, at least for the moment (in about the past 2.5 hours), so far, the prices have gone down from the lower $260s to the mid $240s in a fairly quick flash crash.

On the other hand, there does NOT really seem to be any negative news regarding BTC, just seeming to be a bit of attempt to push BTC prices down and/or to test the lower resistance levels in the BTC prices.

Personally, I have a hard time believing that, without any news, BTC prices will dip below or much below $240, unless we get either some real life bad news or some fairly credible FUD (which is imitation bad news).

Any thoughts, BTC enthusiasts? or others who may have reality-based BTC price movement theories? hahaha
(This post was last modified: 03-24-2015 09:00 AM by JayJuanGee.)
03-24-2015 08:57 AM
Find all posts by this user Like Post Quote this message in a reply
el mechanico Offline
Owl
******
Gold Member

Posts: 11,055
Joined: Mar 2011
Reputation: 153
Post: #2036
RE: The Bitcoin thread
I haven't logged on in weeks then I did a little while ago and watched it crashing..
03-24-2015 09:06 AM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2037
RE: The Bitcoin thread
(03-24-2015 09:06 AM)el mechanico Wrote:  I haven't logged on in weeks then I did a little while ago and watched it crashing..


Hahahahahaha......"crashing" Nice to hear from you El Mech.

I see you have NOT lost your glass half empty perspective when comes to the current BTC scene.
03-24-2015 10:03 AM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2038
RE: The Bitcoin thread
(03-19-2015 01:34 AM)JayJuanGee Wrote:  My girlfriend is suggesting that she may buy some if the price goes into the lower $240s, but I will believe it when I see it. I have just been holding lately since I have had some unexpected cash flow issues recently and working on some business matters in an attempt to restore various cash flowing matters.

Regarding my GF, she just bought 4 BTC on Circle for $990.. ... what a fucker she is!!!!

Really, I thought that she was NOT going to buy any and she was going to continue to put it off and to say that she would and she would and she would etc etc etc... and then she surprised me and viola... bought some...


She seems to have a much better chance with her investment than my having had bought some BTC above $1000 and then many BTC above $500 and in the end my average BTC price remains over $500..... because, in part, I have NOT been able to buy much of any BTC in the last few months while the price has been in the $200s and even into the $100s... fuck... and I suppose by the time my cash flow gets ramping up, these good prices will be history? Maybe? We will see, no?
03-24-2015 01:09 PM
Find all posts by this user Like Post Quote this message in a reply
Alche Offline
Robin
*

Posts: 127
Joined: Jan 2015
Reputation: 1
Post: #2039
RE: The Bitcoin thread
Ahh my predictions are becoming a reality. Now just have to wait patiently to strike Smile

Quote:I like that analysis better. Do you believe that all crypto currencies are doomed? Because this invention can't be uninvented, and because Bitcoin is leading in 1st place by a wide margin, I think the probability of it failing completely or being replaced by a superior crypto is slim. If everybody was in it to make a quick buck like yourself then the crypto would have been long dead. But, I believe there are many people out there like myself who believe in the crypto not just to make a quick buck, but to also revolutionize finance as we know it. I'm enjoying the ride, and I'm gonna quote the Winklewi twins when asked if they had ever sold their bitcoins, "no, never. Spartans hold." I'm holding the bitcoin that I have for the long term. I even have some in my retirement portfolio (of which I can cash out at anytime). My point is that in 10-20 years if cryptos exists, they will be worth much much much more than today assuming critical mass adoption. Will Bitcoin be replaced is my only fear, but even if a more "superior","more VISA scalable" crypto emerges, given Bitcoins history, I think it will still remain in circulation, perhaps like a store of value currency with less velocity.

Holding onto bitcoin is silly. Its like holding onto a stock only for it to crash 10years from now and you have actually lost money because of the time factor even though you might have the same amount to begin with.

I don't know who these Winklewi twins are but if they were in bitcoin from the beginning what they are saying makes a little more sense but still is ignorant if they are referring to themselves as Spartans.

Also its not that Bitcoin is going to crash, but what's the true value? I certainly do not believe the true value is worth over $100.

Quote:My point is that in 10-20 years if cryptos exists, they will be worth much much much more than today assuming critical mass adoption.

Why would you think this?

'in the face of death.. everything is funny'
(This post was last modified: 03-24-2015 10:05 PM by Alche.)
03-24-2015 09:56 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2040
RE: The Bitcoin thread
First Alche, it seems a bit unclear regarding who you are quoting, and there are ways to clear up your quotes in order that RVF readers do NOT have to search for your quotes - especially, when one or two months may have passed when you respond to the post.



(03-24-2015 09:56 PM)Alche Wrote:  Ahh my predictions are becoming a reality. Now just have to wait patiently to strike Smile

Good for you. It is always good to have a planned course of action, and yes it certainly will feel better if you are correct and if you bet correctly in terms of finances.



(03-24-2015 09:56 PM)Alche Wrote:  
Quote:I like that analysis better. Do you believe that all crypto currencies are doomed? Because this invention can't be uninvented, and because Bitcoin is leading in 1st place by a wide margin, I think the probability of it failing completely or being replaced by a superior crypto is slim. If everybody was in it to make a quick buck like yourself then the crypto would have been long dead. But, I believe there are many people out there like myself who believe in the crypto not just to make a quick buck, but to also revolutionize finance as we know it. I'm enjoying the ride, and I'm gonna quote the Winklewi twins when asked if they had ever sold their bitcoins, "no, never. Spartans hold." I'm holding the bitcoin that I have for the long term. I even have some in my retirement portfolio (of which I can cash out at anytime). My point is that in 10-20 years if cryptos exists, they will be worth much much much more than today assuming critical mass adoption. Will Bitcoin be replaced is my only fear, but even if a more "superior","more VISA scalable" crypto emerges, given Bitcoins history, I think it will still remain in circulation, perhaps like a store of value currency with less velocity.

Holding onto bitcoin is silly. Its like holding onto a stock only for it to crash 10years from now and you have actually lost money because of the time factor even though you might have the same amount to begin with.

Here, you seem to be repeating points that you already made in some of your earlier posts in this thread in the sense that you seem to be calling guys names (such as silly), if they disagree with your methods and/or philosophies in regard to bitcoin

There are a lot of non-silly reasons that guys may chose to hold bitcoin (a large portion or a small portion of their investment portfolio), and a lot of the reasons have already been explained in the thread. In the end, guys make their risk allocations and choose their strategies on a variety of factors... some are long term and some are short term. Calling guys silly, does NOT seem to be helpful in order for us to attempt to engage in a meaningful discussion about the price direction of bitcoin, if that happens to be part of what you are attempting to achieve with the above comment.


(03-24-2015 09:56 PM)Alche Wrote:  I don't know who these Winklewi twins are but if they were in bitcoin from the beginning what they are saying makes a little more sense but still is ignorant if they are referring to themselves as Spartans.

If you do NOT know who the winklewi twins are then maybe you will need to read up a little bit about bitcoin. I'm sure that it is easy enough to do a search or read wikipedea or something straight forward. If you have studied anything much substantively about the market dynamics of bitcoin and if you pretend to have anything useful to offer concerning potential price directions of bitcoin, then you should have, at some point, come across the names and the history and the ongoing influential factors related bitcoin.

In other words, your suggesting that you know something about bitcoin, and then claiming to not know about the winklewi twins (and unwilling to research) into the matter, gives the impression that you are NOT being genuine in your input into this thread.. and instead you may be just engaged in some kind of FUD spreading practice and/or trolling. Feel free to provide information to correct my impression, if you so choose.




(03-24-2015 09:56 PM)Alche Wrote:  Also its not that Bitcoin is going to crash, but what's the true value? I certainly do not believe the true value is worth over $100.


Yes, of course you have a right to your opinion concerning the price direction of BTC and if you believe that there are certain price gravitation points, and you can invest accordingly.




(03-24-2015 09:56 PM)Alche Wrote:  
Quote:My point is that in 10-20 years if cryptos exists, they will be worth much much much more than today assuming critical mass adoption.

Why would you think this?

I could NOT find who you were quoting here, but the opinion expressed in the quote is NOT uncommon amongst a variety of bitcoin enthusiasts. Possibly we will have to wait 5 to 10 to 20 years to verify whether BTC moves in the critical mass adoption direction. There are a lot of BTC pricing models that account for potential mass adoption of BTC, and at this point fewer than 1% of the world population owns any BTC, so there is considerable upside potential regarding increasing BTC adoption, which would then cause considerable upward BTC price pressures.
(This post was last modified: 03-24-2015 10:44 PM by JayJuanGee.)
03-24-2015 10:42 PM
Find all posts by this user Like Post Quote this message in a reply
Alche Offline
Robin
*

Posts: 127
Joined: Jan 2015
Reputation: 1
Post: #2041
RE: The Bitcoin thread
I'm not a bitcoin enthusiast, If I was an enthusiast I wouldn't be in it to make money.

Anyway I can't back up what I've said with facts its just my opinion.. so don't let me stop you from continuing to create a retirement fund.

Sorry I cant edit the posts they were all quoted on this page.

'in the face of death.. everything is funny'
(This post was last modified: 03-24-2015 11:29 PM by Alche.)
03-24-2015 11:29 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Alche's post:
Jneg
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2042
RE: The Bitcoin thread
(03-24-2015 11:29 PM)Alche Wrote:  I'm not a bitcoin enthusiast, If I was an enthusiast I wouldn't be in it to make money.


I used the term "bitcoin enthusiast" just to describe someone who has a bullish long-term outlook regarding bitcoin. I doubt that bitcoin enthusiast necessarily needs to be a label that is applied for life, but just merely meant as a descriptive as someone who is optimistic regarding various aspects of bitcoin (whether it is price performance or whether it is the block chain technology or the public ledger aspect or whatever aspect of bitcoin's potential ability to innovate).

You can be a bitcoin enthusiast and you may or may NOT be in it at all, and you may or may NOT be an investor.


(03-24-2015 11:29 PM)Alche Wrote:  Anyway I can't back up what I've said with facts its just my opinion.. so don't let me stop you from continuing to create a retirement fund.

You seem to be engaged in presuming in regard to your seemingly snarky remark about a "retirement fund."

I have posted quite a bit about various aspects of bitcoin in this thread, and surely, I have revealed a lot about my thinking as I was thinking it including concepts of total investment portfolios, etc. I doubt that I ever suggested that anyone should put all of their eggs into the bitcoin basket (in terms of retirement), and surely some people will and some people won't feel so inclined.

Currently, I have less than 10% of my total quasi-liquid assets in bitcoin, and surely, it is a pretty decent chunk of change, but it is NOT a total aspect of my particular "retirement plan."

People may or may NOT chose to take into account various investment concepts regarding the potential of allocating some of your finances into bitcoin or otherwise considering various ways to invest or how much to risk... towards retirement or whatever. Those are individual decisions.


(03-24-2015 11:29 PM)Alche Wrote:  Sorry I cant edit the posts they were all quoted on this page.

I am merely suggesting that there are proper ways to quote in order that it is easy to reference the earlier quote.... also if you get lost or if you have some technical difficulties, you can also just describe in your text what or who you are quoting in order to make it a bit easier on other guys who may be reading this thread.
03-24-2015 11:47 PM
Find all posts by this user Like Post Quote this message in a reply
jamaicabound Offline
Pelican
****

Posts: 1,618
Joined: Feb 2014
Reputation: 21
Post: #2043
RE: The Bitcoin thread
(03-19-2015 01:34 AM)JayJuanGee Wrote:  More radical bitcoin price movements today... ? What to do?

My girlfriend is suggesting that she may buy some if the price goes into the lower $240s, but I will believe it when I see it. I have just been holding lately since I have had some unexpected cash flow issues recently and working on some business matters in an attempt to restore various cash flowing matters.

Maybe in the coming months I will be able to start buying again, or maybe I will just continue to hold... if some of my cash flow issues do NOT clearly resolve within that time-frame?

What are other guys doing? Any prognosticating based on real factors in the BTC marketplace? Any informed or well reasoned insight into the current price direction?

Back during the crash a few weeks back I loaded up at $220, thought I was buying in at the bottom but was pretty concerned when I saw it go down to $170. It quickly rebounded back to $220 or so and I road it up to about $298 and sold.

I have a feeling its gonna float between like $200 and $400 for the next year or two. I feel like everytime we get a dip under $250 we bounce back up to $300. I'm planning on just swing trading making a few bucks here and there on the ups and downs while holding a bit for hte longterm as well.

I'm tempted to get in now but will probably wait until it hits $240, ideally it'd be $220.

I found a cool app called bitcoin alert basically you can set to alert you when it drops a certain %, dollar amount or hits a strike price. I like this because coinbase doesn't let you set limit orders or notify you. I was mad a bunch of times looking at charts and being like oh I shoulda bought some last wed. Now I get my alert hopon coinsbase pickup 13 coins maxout for hte day and then flip it a few days or a few weeks later
03-25-2015 08:58 AM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2044
RE: The Bitcoin thread
(03-25-2015 08:58 AM)jamaicabound Wrote:  
(03-19-2015 01:34 AM)JayJuanGee Wrote:  More radical bitcoin price movements today... ? What to do?

My girlfriend is suggesting that she may buy some if the price goes into the lower $240s, but I will believe it when I see it. I have just been holding lately since I have had some unexpected cash flow issues recently and working on some business matters in an attempt to restore various cash flowing matters.

Maybe in the coming months I will be able to start buying again, or maybe I will just continue to hold... if some of my cash flow issues do NOT clearly resolve within that time-frame?

What are other guys doing? Any prognosticating based on real factors in the BTC marketplace? Any informed or well reasoned insight into the current price direction?

Back during the crash a few weeks back I loaded up at $220, thought I was buying in at the bottom but was pretty concerned when I saw it go down to $170. It quickly rebounded back to $220 or so and I road it up to about $298 and sold.

I have a feeling its gonna float between like $200 and $400 for the next year or two. I feel like everytime we get a dip under $250 we bounce back up to $300. I'm planning on just swing trading making a few bucks here and there on the ups and downs while holding a bit for hte longterm as well.

I'm tempted to get in now but will probably wait until it hits $240, ideally it'd be $220.

I found a cool app called bitcoin alert basically you can set to alert you when it drops a certain %, dollar amount or hits a strike price. I like this because coinbase doesn't let you set limit orders or notify you. I was mad a bunch of times looking at charts and being like oh I shoulda bought some last wed. Now I get my alert hopon coinsbase pickup 13 coins maxout for hte day and then flip it a few days or a few weeks later


Yeah you may be correct that BTC prices will hover in these price territories for a while -even a year or two as you assert does NOT seem unreasonable given some of the latest price dynamics, and my GF has similar thinking. She intends to buy again in the lower $220s or maybe in the $210s.... and then to sell in the early to mid $300s

There are quite a few apps for the phone with various kinds of price alarms. Currently, I have set up alarms on Bitcoin Ticker and on ZeroBlock. Sometimes they do NOT go off exactly when the price goes below the point, but they still serve decent services. You can also set up an alarm on http://bitcoinity.org/markets. Sometimes, if the phone is on silent, then the computer alarm could be a back up alarm, if you are at home, of course.
03-25-2015 11:18 AM
Find all posts by this user Like Post Quote this message in a reply
chyamor Offline
Pelican
****

Posts: 1,151
Joined: Nov 2011
Reputation: 6
Post: #2045
RE: The Bitcoin thread
Another Online Marketplace Disappears, Users Lose $12,000,000 In Bitcoin by Clint Siegner, Money Metals Exchange.

Operators of Evolution Market, a so called “darknet” site specializing in illicit drugs, turned off the servers last week. About $12,000,000 in customer bitcoin vanished along with the website. A note, purportedly from the owner (and including lots of typos), has been making the rounds online:

Didnt another one go offline 2-3 weeks ago?
03-26-2015 01:15 PM
Find all posts by this user Like Post Quote this message in a reply
Slacker101 Offline
Robin
*

Posts: 157
Joined: Aug 2012
Reputation: 2
Post: #2046
RE: The Bitcoin thread
(03-26-2015 01:15 PM)chyamor Wrote:  Another Online Marketplace Disappears, Users Lose $12,000,000 In Bitcoin by Clint Siegner, Money Metals Exchange.

Operators of Evolution Market, a so called “darknet” site specializing in illicit drugs, turned off the servers last week. About $12,000,000 in customer bitcoin vanished along with the website. A note, purportedly from the owner (and including lots of typos), has been making the rounds online:

Didnt another one go offline 2-3 weeks ago?

I wrote a thesis on bitcoins several years ago when the first major scandal/shutdown happened. The way it was then (not sure about now) is that since bitcoins are mostly not legal tenor there are no regulations set in place to ensure that the parties who own the coins get them back. So at the time as long as any actually legal tenor balances were returned when the exchanges died (Yen, USD, etc) they were extremely unlikely to be prosecuted. The first one was I believe Mt. Gox in Japan, which (if my memory serves) at the time handled around 70% of all bit coin exchanges.
(This post was last modified: 03-26-2015 03:41 PM by Slacker101.)
03-26-2015 03:41 PM
Find all posts by this user Like Post Quote this message in a reply
JayJuanGee Offline
Crow
*****
Gold Member

Posts: 6,221
Joined: Aug 2013
Reputation: 80
Post: #2047
RE: The Bitcoin thread
(03-26-2015 03:41 PM)Slacker101 Wrote:  
(03-26-2015 01:15 PM)chyamor Wrote:  Another Online Marketplace Disappears, Users Lose $12,000,000 In Bitcoin by Clint Siegner, Money Metals Exchange.

Operators of Evolution Market, a so called “darknet” site specializing in illicit drugs, turned off the servers last week. About $12,000,000 in customer bitcoin vanished along with the website. A note, purportedly from the owner (and including lots of typos), has been making the rounds online:

Didnt another one go offline 2-3 weeks ago?

I wrote a thesis on bitcoins several years ago when the first major scandal/shutdown happened. The way it was then (not sure about now) is that since bitcoins are mostly not legal tenor there are no regulations set in place to ensure that the parties who own the coins get them back. So at the time as long as any actually legal tenor balances were returned when the exchanges died (Yen, USD, etc) they were extremely unlikely to be prosecuted. The first one was I believe Mt. Gox in Japan, which (if my memory serves) at the time handled around 70% of all bit coin exchanges.


There have been scandals throughout bitcoin's history, and MTGOX had at least a few scandals between 2011 and early 2014. Even though MTGOX was amongst the first of the large BTC exchanges, I would NOT characterize it as the first scandal.

Also, surely there is a factor that people like to target various kinds of security or even human socializing flaws to take advantage moreso of any kind of an asset that becomes more valuable. Accordingly, Bitcoin would be more of a target at $240 per coin versus $.50 per coin.

We can expect BTC to continue to be targeted in a variety of ways in the coming years, and to see if there are various ways to figure out technical and/or social fixes. Sometimes there may be technical fixes, but people may NOT take certain precautions and then make themselves more vulnerable to dishonest people running off with their coins.

I will admit that i have a large number of my coins stored in various third party entities - including BTC-e, Circle and Coinbase. I also have a few coins held in a Blockchain.info wallet. I think my coins are vulnerable, and I seem to be willing to take the risks for convenience sake.
03-29-2015 12:52 PM
Find all posts by this user Like Post Quote this message in a reply
AhabTravel Offline
Pigeon
Gold Member

Posts: 22
Joined: Mar 2015
Reputation: 1
Post: #2048
RE: The Bitcoin thread
(03-26-2015 03:41 PM)Slacker101 Wrote:  
(03-26-2015 01:15 PM)chyamor Wrote:  Another Online Marketplace Disappears, Users Lose $12,000,000 In Bitcoin by Clint Siegner, Money Metals Exchange.

Operators of Evolution Market, a so called “darknet” site specializing in illicit drugs, turned off the servers last week. About $12,000,000 in customer bitcoin vanished along with the website. A note, purportedly from the owner (and including lots of typos), has been making the rounds online:

Didnt another one go offline 2-3 weeks ago?

I wrote a thesis on bitcoins several years ago when the first major scandal/shutdown happened. The way it was then (not sure about now) is that since bitcoins are mostly not legal tenor there are no regulations set in place to ensure that the parties who own the coins get them back. So at the time as long as any actually legal tenor balances were returned when the exchanges died (Yen, USD, etc) they were extremely unlikely to be prosecuted.

I've read most of this thread and I don't think the value of bitcoin will be answered anytime soon; whether it will remain the same, collapse, or rise higher.

What I do think is interesting is how people compare it to a system they assume is stable, which is not. Ignoring ZeroHedge's conspiracy, end-of-the-world tone, watch the video at this post and listen to these financial heads speak, especially about their concerns involving liquidity:

http://www.zerohedge.com/news/2015-03-28...dity-worry (there's also a document that was published by Oaktree capital expressing concerns about ETF liquidity).

My point here is that a lot of people don't understand the instruments their dumping money into and they may pay a high price in the long run. It will be during these times where bitcoin will be something to really watch because ETFs are regulated; no one can just create one if they want, there's a lot of work involved. If regulators were all that smart, why did the housing bubble even happen? Real estate comes with its own strict regulation. This regulation makes things safe assumption relies on bureaucrats that could easily take part in corruption if they want, plus, who's watching them to make sure they're doing the right thing?

This post may be read as "therefore, bitcoin is awesome", which I'm not saying. Rather, stating that regulation is a no-go for bitcoin is, unfortunately, an invalid case against it. It may be bitcoin's non regulation that makes it better; much like a bureaucrat can't force a cow to produce less milk - and that's a good thing.
03-29-2015 02:22 PM
Find all posts by this user Like Post Quote this message in a reply
megadeth Offline
Pigeon

Posts: 7
Joined: Jan 2013
Reputation: 0
Post: #2049
RE: The Bitcoin thread
sub $200 incoming. Place your bids, this one will be violent.
04-14-2015 01:03 AM
Find all posts by this user Like Post Quote this message in a reply
BBinger Offline
Kingfisher
***

Posts: 538
Joined: Apr 2015
Reputation: 9
Post: #2050
RE: The Bitcoin thread
(04-14-2015 01:03 AM)megadeth Wrote:  sub $200 incoming. Place your bids, this one will be violent.

If you are a long term bull all of 2015 so far has been a great buying opportunity. Bitcoin's treated me well but given the risk of holding anything at the fiat/BTC exchanges I can't recommend it to anyone looking to hold less than two years or anyone to whom Bitcoin doesn't fit their risk profile.
04-14-2015 02:50 AM
Visit this user's website Find all posts by this user Like Post Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  IRS: Bitcoin is not currency assman 23 7,869 07-06-2019 08:37 PM
Last Post: Deepdiver
  Bitcoin & Cryptocurrency Profit & Loss Trackers & Capital Gains Calculators jamaicabound 2 4,870 06-01-2019 09:03 AM
Last Post: Dr. Howard
  DACing for Cryptodummies: Hassle-Free and Easy Bitcoin Investing SamuelBRoberts 108 33,822 12-26-2018 08:27 PM
Last Post: redbeard

Forum Jump:


User(s) browsing this thread: 1 Guest(s)

Contact Us | RooshV.com | Return to Top | Return to Content | Mobile Version | RSS Syndication