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The Bitcoin (BTC) thread
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JJ Roberts Offline
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Post: #1501
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
BTC down 10% on some more fake news circulating in China.

More FUD = more chance to buy cheaper BTC
03-27-2014 04:48 PM
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JayJuanGee Offline
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Post: #1502
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 04:48 PM)JJ Roberts Wrote:  BTC down 10% on some more fake news circulating in China.

More FUD = more chance to buy cheaper BTC


I agree and I try to view these rumor mill bad news situations as BTC buying opportunities, as well, even though it is a little bit concerning when the value of a guy's whole BTC investment portfolio is going down in value with the drop in prices....

I keep buying BTC and the price keeps going down. My number of BTCs keeps going up and my average BTC buy-in price keeps going down. In the end, BTC prices have got to reverse and to go back up again otherwise, my BTC investment portfolio is lingering in the red.

Who would have thunk? I could have made a killin, had I known we would be back at this price, again.

I am currently thinking that it is very unlikely that I will sell any BTC under $700... absent some sporadic small sales or absent some real news.. rather than unverifiable tidbits that may NOT really matter too much materially anyhow, when it comes to long term BTC viability.
03-27-2014 05:39 PM
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JJ Roberts Offline
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Post: #1503
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 05:39 PM)JayJuanGee Wrote:  I am currently thinking that it is very unlikely that I will sell any BTC under $700... absent some sporadic small sales or absent some real news.. rather than unverifiable tidbits that may NOT really matter too much materially anyhow, when it comes to long term BTC viability.

Right now the floor for BTC prices seems to be around $500 and the ceiling $1,000.

It think It will drift back upwards (or maybe even shoot up if there is a major piece of positive news) but I think a lot of speculators will take profits once gets to or nears $1,000
03-27-2014 05:44 PM
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JayJuanGee Offline
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Post: #1504
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 05:44 PM)JJ Roberts Wrote:  
(03-27-2014 05:39 PM)JayJuanGee Wrote:  I am currently thinking that it is very unlikely that I will sell any BTC under $700... absent some sporadic small sales or absent some real news.. rather than unverifiable tidbits that may NOT really matter too much materially anyhow, when it comes to long term BTC viability.

Right now the floor for BTC prices seems to be around $500 and the ceiling $1,000.

It think It will drift back upwards (or maybe even shoot up if there is a major piece of positive news) but I think a lot of speculators will take profits once gets to or nears $1,000



Surely there is fairly decent potential that BTC prices will go below $450.. especially now that the price is floating between $475 and $500 ( on BitStamp within the past 15 minutes as I type). Surely we cannot anticipate these BTC price manipulations, and gosh I am getting eager to buy more. I just bought 1 BTC at $485 (on Coinbase), but I do NOT have an infinite amount of fiat to be throwing at this situation. I am NOT really sure about my next buy point... maybe $460, if it gets there?

Getting the BTC price to anywhere near $1,000 seems pie in the sky, at this moment; though I do anticipate that a near $1000 price will happen fairly soon. I am just NOT sure about how soon (whether within the next 2 months or 2 years).

A large number of BTC investors - especially those knowledgeable about BTC have little to no doubt that BTC will be going to the $10K territory in the next few years.... I just become a little more doubtful about the price getting to that point anytime soon when we are having these intense negative price swings and the lingering in these relatively low $500 price territories.
03-27-2014 06:22 PM
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JJ Roberts Offline
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Post: #1505
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 06:22 PM)JayJuanGee Wrote:  Surely there is fairly decent potential that BTC prices will go below $450.. especially now that the price is floating between $475 and $500 ( on BitStamp within the past 15 minutes as I type). Surely we cannot anticipate these BTC price manipulations, and gosh I am getting eager to buy more. I just bought 1 BTC at $485 (on Coinbase), but I do NOT have an infinite amount of fiat to be throwing at this situation. I am NOT really sure about my next buy point... maybe $460, if it gets there?

Hard to say. Will be very interested to see where the price ends up at the end of today. BTC has not closed at below $500 USD this year.

If you take a look at the chart, BTC spent almost no time between 250 and 500 in the run up to $1,200 - literally only a few days.

(03-27-2014 06:22 PM)JayJuanGee Wrote:  Getting the BTC price to anywhere near $1,000 seems pie in the sky, at this moment; though I do anticipate that a near $1000 price will happen fairly soon. I am just NOT sure about how soon (whether within the next 2 months or 2 years).

Don't see that happening in the next 2 months personally but I think very probably before the end of the year.

(03-27-2014 06:22 PM)JayJuanGee Wrote:  A large number of BTC investors - especially those knowledgeable about BTC have little to no doubt that BTC will be going to the $10K territory in the next few years.... I just become a little more doubtful about the price getting to that point anytime soon when we are having these intense negative price swings and the lingering in these relatively low $500 price territories.

Welcome to the volatility of BTC!

Buy when there is panic selling and sell when there is greed buying.
03-27-2014 07:03 PM
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JJ Roberts Offline
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Post: #1506
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Back above $500 again now.

Ho hum.
03-27-2014 08:45 PM
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JayJuanGee Offline
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Post: #1507
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 08:45 PM)JJ Roberts Wrote:  Back above $500 again now.

Ho hum.


YES!!!! Hovering between $490 and $515. It seems likely to go back down in the $480 and the short term trend over the weekend seems to be bearish rather than bullish... ...

Certainly, I do NOT know what to do, except to buy at my next buy point, and hope that I do NOT run out of fiat due to my NOT really being able to predict the downward trend.. and whether it will continue for sure. I would hate to sell, and then the market goes UP rather than DOWN, and then I will have to take a loss... or lock in a loss.
03-27-2014 09:16 PM
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JJ Roberts Offline
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Post: #1508
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I am kicking myself for not having more fiat on deposit in my exchange otherwise I would have bought more.
03-27-2014 09:30 PM
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JayJuanGee Offline
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Post: #1509
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 09:30 PM)JJ Roberts Wrote:  I am kicking myself for not having more fiat on deposit in my exchange otherwise I would have bought more.

My limits in buying BTC is keeping enough fiat in my bank account, since I tend to buy my BTC through Coinbase (and thus I suffer a 1% transaction free with that). How are you making your initial conversion from fiat to BTC? through which exchange?
03-27-2014 09:34 PM
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JJ Roberts Offline
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Post: #1510
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 09:34 PM)JayJuanGee Wrote:  
(03-27-2014 09:30 PM)JJ Roberts Wrote:  I am kicking myself for not having more fiat on deposit in my exchange otherwise I would have bought more.

My limits in buying BTC is keeping enough fiat in my bank account, since I tend to buy my BTC through Coinbase (and thus I suffer a 1% transaction free with that). How are you making your initial conversion from fiat to BTC? through which exchange?

bitstamp
03-27-2014 09:43 PM
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brg444 Offline
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Post: #1511
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
https://www.youtube.com/watch?v=NV5ubkGQUes

https://www.youtube.com/watch?v=iir5J6Z3Z1Q


http://www.cnbc.com/id/101532377

Prominent value investor Bill Miller on Thursday said he is investing in bitcoin.

"The thing about bitcoin that is so interesting is the addressable market here," said Miller, former chairman of Legg Mason Capital, on CNBC'sClosing Bell. "Gold alone has an $8 trillion market value, bitcoin has about a $7 billion market value, so if it's only 10 percent as successful as gold you get 100 times your money."

https://stripe.com/bitcoin

buy
03-27-2014 09:54 PM
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JayJuanGee
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Post: #1512
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Stripe is testing implementing bitcoin into their payments processing.

Which is great, allows me to streamline.

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

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03-27-2014 11:28 PM
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JJ Roberts Offline
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Post: #1513
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
What's Stripe and why is this notable?
03-27-2014 11:35 PM
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Post: #1514
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I assume its stripe.com...
"Stripe is a developer-friendly way to accept payments online and in mobile apps.
We process billions of dollars a year for thousands of companies of all sizes."

Which got me thinking... as soon one of the big financial institutions like Citi, Chase, HSBC, etc launches a Bitcoin product this will legitimize Bitcoin and will send BTC values through the roof. My guess is that right now BTC is still easy for them to ignore and the US government is probably telling them to stay away from BTC.

I will mention this again in case anyone is new to Bitcoin.... check out bitcointalk.org it is a great resource on Bitcoin, Litecoin, and all the other Altcoins.
03-28-2014 04:56 AM
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JJ Roberts Offline
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Post: #1515
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-27-2014 09:54 PM)brg444 Wrote:  Prominent value investor Bill Miller on Thursday said he is investing in bitcoin.

Interesting to see that he also stated that he sees a solid bottom price of $500 for BTC

Over the last few days we have seen that bottom tested dozens of times.

I have watch the price dip below it (as low as 468) and it just bounces straight back to 500 again

Trading right now at 501

Time to buy
03-28-2014 06:04 PM
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strengthstudent Offline
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Post: #1516
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Price keeps dropping, I think we are very close to the bottom but hard to say. Bitcoin's reach is growing but the price has not been impacted positively by it, yet. Bitcoin is still far from mainstream but at this rate I could see it becoming mainstream in 2-3 years. The networking effect is very effective so it could be way faster than that. Nobody knew much about Bitcoin less than 6 months ago, but now it is everywhere.

I think people should decide whether they are long term or short term investors. There is no point to worry about the short term volatility if you are in it in a long term.
03-30-2014 12:15 PM
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JJ Roberts Offline
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Post: #1517
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Yeah it won't be mainstream for a few years yet.
03-30-2014 12:53 PM
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JayJuanGee Offline
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Post: #1518
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-30-2014 12:15 PM)strengthstudent Wrote:  Price keeps dropping, I think we are very close to the bottom but hard to say. Bitcoin's reach is growing but the price has not been impacted positively by it, yet. Bitcoin is still far from mainstream but at this rate I could see it becoming mainstream in 2-3 years. The networking effect is very effective so it could be way faster than that. Nobody knew much about Bitcoin less than 6 months ago, but now it is everywhere.

I think people should decide whether they are long term or short term investors. There is no point to worry about the short term volatility if you are in it in a long term.

I've been buying BTC pretty regularly in the last three weeks when the price was $610, and I believed that the BTC price would be going up and NOT down... then again, I was buying in the $500s... with the same thoughts... and then I have been buying in the $400s... same thing...

In the last three hours BTC prices have floated between $436 and $469 on bitstamp.

With my additional BTC purchases, my average price per BTC has been dropping and my BTC holdings have been getting larger, but BTC price drops have been bringing my whole portfolio further in the red. In this regard, the goal or aspiration is that BTC prices would need to reverse towards the upward at some point... in order for me to get me back in the black.

Regarding trading, I would like to be able to sell some BTC when the price is higher and then buy in back again lower - with a goal of dropping further my average price per BTC; however, I can never really time those kinds of trades very well.

Being into BTC for short term would be a sort of trading and different set of skills or luck, that is for sure... Personally I am still betting on the long-term, and thinking that maybe the considerable BTC price increases will be delayed a little bit.. but still the infrastructure is being built.. so sometime in the near future the BTC choo choo train shall be departing towards upward destinations...
03-30-2014 02:07 PM
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JJ Roberts Offline
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Post: #1519
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-30-2014 02:07 PM)JayJuanGee Wrote:  Regarding trading, I would like to be able to sell some BTC when the price is higher and then buy in back again lower - with a goal of dropping further my average price per BTC; however, I can never really time those kinds of trades very well.

Some historic analysis is helpful here

See post 8 on this thread.

https://bitcointalk.org/index.php?topic=550283.0

The pattern is fairly clear
03-30-2014 02:47 PM
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JayJuanGee Offline
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Post: #1520
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-30-2014 02:47 PM)JJ Roberts Wrote:  
(03-30-2014 02:07 PM)JayJuanGee Wrote:  Regarding trading, I would like to be able to sell some BTC when the price is higher and then buy in back again lower - with a goal of dropping further my average price per BTC; however, I can never really time those kinds of trades very well.

Some historic analysis is helpful here

See post 8 on this thread.

https://bitcointalk.org/index.php?topic=550283.0

The pattern is fairly clear

Yes.... long term seems to be pretty good for BTC... and we have had some similar posts like that in this thread... thought the graph in your link does put a good visualization to the current state of affairs in some historical perspective.
03-30-2014 03:21 PM
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strengthstudent Offline
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Post: #1521
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-30-2014 02:47 PM)JJ Roberts Wrote:  The pattern is fairly clear

I could imagine that with an increased adoption that same pattern would become faster and faster. After every peak, it has taken 4-6 months for the price starts rising again, now it has been over 4 months since the November peak. If the pattern stays the same, there could be next peak in 2-3 months. But well, the past can only indicate, not determine.

The price can rise very rapidly... It took less than 30 days for bitcoin to go from 200$ to 1200$ last time.
03-30-2014 03:31 PM
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brg444 Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
this is a repost but watching again this talk https://www.youtube.com/watch?v=NV5ubkGQUes with Chamath Palihapitiya, ex VP of Facebook.

I have come to a point where I'm only concerned about BTC's price when I'm about to buy. I have little doubts left that Bitcoin is going to be the future.

I am also enjoying the panic going on right now. The ones selling are the weak hands who have yet to realize the worth of their investment and focus superficial news and market movement.

Plenty of powerful people already have vested interest in the future of Bitcoin. I feel like there is simply too much money already invested in the ecosystem for it to fail. The momentum is too strong. Any hurdle that we encounter will be worked around. Extremely smart people have realized the potential of the blockchain technology. These technologist have a long history of working with regulators and we know some have already approached and lobbied governmental and financial entities about Bitcoin.

The libertarian dream is not lost but it was foolish to believe Bitcoin could grow without ever having Wall Street sink its teeth into it.

As an investor, I am thrilled by the ongoing developments in terms of regulatory status and infrastructure growth. Because when Wall Street takes a bite, I expect to see phenomal return on my investement.
(This post was last modified: 03-30-2014 04:41 PM by brg444.)
03-30-2014 04:41 PM
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brg444 Offline
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Post: #1523
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(03-30-2014 03:31 PM)strengthstudent Wrote:  
(03-30-2014 02:47 PM)JJ Roberts Wrote:  The pattern is fairly clear

I could imagine that with an increased adoption that same pattern would become faster and faster. After every peak, it has taken 4-6 months for the price starts rising again, now it has been over 4 months since the November peak. If the pattern stays the same, there could be next peak in 2-3 months. But well, the past can only indicate, not determine.

The price can rise very rapidly... It took less than 30 days for bitcoin to go from 200$ to 1200$ last time.

I believe this as well.

My opinion is the next bubble is going to be MUCH bigger than any we have seen. By all scenario it appears this bubble is going to be sponsored by institutional investments and that kind of money is much longer than any we have seen enter the Bitcoin market yet.
(This post was last modified: 03-30-2014 04:48 PM by brg444.)
03-30-2014 04:47 PM
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JayJuanGee Offline
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Post: #1524
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
BTW: Where is El Mech in this thread?

Maybe he is waiting for BTC to get into the mid-$600s again before chiming back in? This downward trend in BTC prices can be a little frustrating to talk and/or speculate about.. especially when we have been expecting BTC prices to go up.. at least since BTC prices were floating in the mid-$600s.

My average BTC buy-in price is NOW about mid-$600s, and surely, if a guy knew, then it would have been nice to wait for this mid-$400s buy in price... this seems to be a very great buy in price.. but it would have been even greater to have sold some or all BTC at some higher price and then gotten in again at this mid-$400s price?

That's just pie in the sky thinking for my investment style b/c I would NOT have gone completely out... but if I am fairly certain about something, I do NOT have a problem hedging and maybe taking 50% out in order to roll the dice, so to speak... but I gotta have a certain confidence level for such risk taking.. especially with the manipulations of BTC.

As is my common sentiment, I do NOT know what to predict with BTC prices in the short term... but it does seem like we are going to have another upturn in prices.. that may come any hour now or it may take a few months, as SS suggested in his earlier post.... Additionally, nothing is 100% certain, either... so the pattern that JJRoberts linked to could be broken by various kinds of interventions - but the fact that so many big wigs are getting into BTC, as mentioned by brg444, the backdrop seems to be very promising to cause a very solid BTC price upswing in the near future...

BTC price upswing coming "soon" to a theatre near you...
03-30-2014 07:02 PM
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strengthstudent Offline
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Post: #1525
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
This chart could have some merit too http://i.imgur.com/KVJxIv7.png . 1000 $ in August 2014, ten times as much in September 2015.


Also, choose your side... http://i.imgur.com/EF2RMPC.jpg
03-31-2014 02:15 AM
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