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el mechanico Offline
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Post: #751
RE: Bitcoins up 60% in less than a month
Jay Juan , there is a LTR and a hit and quit. Right now we have to do both at the same time.
12-16-2013 08:07 PM
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JayJuanGee Offline
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Post: #752
RE: Bitcoins up 60% in less than a month
(12-16-2013 08:07 PM)el mechanico Wrote:  Jay Juan , there is a LTR and a hit and quit. Right now we have to do both at the same time.



So here's where the devil is in the details, and for how long are guys supposed to hold on to their dollars? This market is 24/7, and so how long does it take for bad news to sink in? 1 day? 1 week? I suppose just keep watching the various indicators in the market in order to decide when to buy BTC?


(12-16-2013 06:08 PM)el mechanico Wrote:  BTC China is straight up manipulating the price!!!! Hold USD!!!!


The signs are NOT very clear to me, b/c even in the past 6 hours, since my last purchase at $680, the price has NOT even come down to my next buy point, which was going to be at $650. I kept hoping that BTC would come down so that i could buy at that price point, and in the past 6 hours, it has just been fluctuating up and down between about $730 and $660.

So when does the next red light green light apply? In the meantime, I am just going to stick with my outlined algorithm to buy at $650, if it gets there, at some point.


When you buying back in? Next week? Two days from now? What if in the meantime BTC skyrockets, and you are NOT in? That decision would NOT be a loss, but it is also NOT a gain.
'
(This post was last modified: 12-16-2013 08:25 PM by JayJuanGee.)
12-16-2013 08:22 PM
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el mechanico Offline
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Post: #753
RE: Bitcoins up 60% in less than a month
Bro it does not skyrocket but it does crash. Take a look that's why I told you to hold in USD and not spend.

Guilty..I bought today and sold at 735.

I didn't get you guys involved because this thread is too slow.
(This post was last modified: 12-16-2013 08:27 PM by el mechanico.)
12-16-2013 08:26 PM
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JayJuanGee Offline
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Post: #754
RE: Bitcoins up 60% in less than a month
(12-16-2013 08:26 PM)el mechanico Wrote:  Bro it does not skyrocket but it does crash. Take a look that's why I told you to hold in USD and not spend.

Guilty..I bought today and sold at 735.

I didn't get you guys involved because this thread is too slow.

I already have a plan that I am following, so I am NOT sure what the purpose of attempting to tell me to hold. You and I are in different stages of our investing, and i am building my investment pool... while you apparently already have your investment pool... I have NO reason to rely upon the price getting any lower than it is today. Does anyone?

It is quite a convenience for you to suggest that you bought and sold and made an additional profit today. Maybe it is true and it really did happen, but the coincidences are adding up to be a bit way too much for me to believe... especially when you are NOT laying it out exactly ahead of time...

I am NOT hating on you b/c it does NOT really matter to me that much if you are either lucky or skillful or a combination of both.. without really describing exactly what it is that you are doing to be able to predict.... . Nonetheless, I like to see guys make money, so if you made a little bit extra, then congratulations.

I remain in the buying mode, like I already mentioned. Ultimately, my amounts are small b/c they fit into my daily/weekly allotment; however, today, based on the market generally going down, I spent more than 3 times my minimum daily allotment - meaning that i invested about $700 today at various points throughout today.
(This post was last modified: 12-16-2013 08:59 PM by JayJuanGee.)
12-16-2013 08:58 PM
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portofmanteau Offline
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Post: #755
RE: Bitcoins up 60% in less than a month
Mech - keep updating this thread! Or if you have a twitter or something where you post your buys and sells let me know, I will open a twitter account just to follow that shit.

MechCoin to the MOON!
12-16-2013 09:18 PM
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zarzuelazen Offline
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Post: #756
RE: Bitcoins up 60% in less than a month
Price crashed hard, down to 650!
12-16-2013 09:28 PM
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el mechanico Offline
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Post: #757
RE: Bitcoins up 60% in less than a month
Haha... Hold. In USD I hope.
12-16-2013 09:34 PM
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el mechanico Offline
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Post: #758
RE: Bitcoins up 60% in less than a month
Jay Juan, look at your posts. By the time I read them you've lost money. Slow down please.
12-16-2013 09:37 PM
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portofmanteau Offline
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Post: #759
RE: Bitcoins up 60% in less than a month
I'm looking to buy more BTC - hold until China wakes up? Coinbase at $640 and dropping
12-16-2013 09:42 PM
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Tex Pro Offline
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Post: #760
RE: Bitcoins up 60% in less than a month
(12-16-2013 09:18 PM)portofmanteau Wrote:  Mech - keep updating this thread! Or if you have a twitter or something where you post your buys and sells let me know, I will open a twitter account just to follow that shit.

MechCoin to the MOON!

Agreed. El Mech needs a twitter account.
12-16-2013 09:52 PM
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el mechanico Offline
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Post: #761
RE: Bitcoins up 60% in less than a month
This is a big one and it's going to change the dynamic of this forever. China is still playing around with the dump.

There's an expression.. US to metric.. "We don't want no foreign rulers" Seriously though.. How long did you think China would be in the game? It didn't even last as long as I thought.
12-16-2013 10:19 PM
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Duke Castile Offline
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Post: #762
RE: Bitcoins up 60% in less than a month
If I just read Juan right, he said he's sticking to his strategy, but then also said he's breaking his strategy and buying more than his plan stipulates.

Mechcoin is up to 94 points soon.

We were meant for far more than to suffer in our self created prisons only to die alone. It doesn't have to be that way. It never did.
12-16-2013 10:29 PM
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el mechanico Offline
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Post: #763
RE: Bitcoins up 60% in less than a month
Crucial thanks! Mechcoin would not even be possible without you guys!




All in USD, sleeping with one eye open!
12-16-2013 11:01 PM
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JayJuanGee Offline
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Post: #764
RE: Bitcoins up 60% in less than a month
(12-16-2013 10:29 PM)Fisto Wrote:  If I just read Juan right, he said he's sticking to his strategy, but then also said he's breaking his strategy and buying more than his plan stipulates.

Mechcoin is up to 94 points soon.

Fisto:

I understand that i have written a lot in this thread, and some of my postings may seem contradictory, especially if a guy is wanting to take issue with some technicality of what I may have said. In that respect, it is easier to pick apart something that is long and committed rather than something that is short and vague. I aspire to the former.

Overall, I am NOT attempting to deceive anybody regarding my description of my approach.

My overall strategy is outlined in this post, yet I am learning as I go and attempting to adapt my methodology.... but generally speaking and in a nutshell, I am front loading my BTC investment, investing more as BTC prices go down and less as BTC prices go up and overall daily dollar cost averaging...

If I am NOT mistaken, I believe Warren Buffet stated that he invests in the same strategy that I describe.. or some variation of it.. . Anyhow, there is some support for the methodology that I am attempting to follow.


By the way, if you look at bit charts shows that DogeCoin (whatever the fuck that is) overtook Bitcoin by triple market capitalization rates - 24 billion as compared with 7.8 billion. So maybe we should all move to DogeCoin? The website of DogeCoin surely sucks, even though it supposedly has a 24 billion dollar market capitalization. GO DOGECOIN!!!! Smile

http://coinmarketcap.com/

Snapshot of current market capitalization rates

(EDIT: after I posted the chart from the coinmarketcap website went back to normal, and DogeCoin disappeared from the Chart... must be some kind of hacker attack):


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(This post was last modified: 12-16-2013 11:33 PM by JayJuanGee.)
12-16-2013 11:27 PM
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portofmanteau Offline
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Post: #765
RE: Bitcoins up 60% in less than a month
[Image: o-DOGE-570.jpg?6]
12-17-2013 01:19 AM
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fortyfor Offline
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Post: #766
RE: Bitcoins up 60% in less than a month
(12-13-2013 08:42 PM)fortyfor Wrote:  
(12-13-2013 06:48 PM)cardguy Wrote:  I think Bitcoins are a bubble.

Anyone else think so as well?

as such my gut feelings are probably similar to alot of others as well. And once the herd starts moving in the same direction - it don't matter how smart you are. You better get out of the way.

About everyone else thinks as well, except for the dreamers
who bought a lot of Bitcoins and they are totally blinded by the
adrenaline ride, the greed is high and they fail to
see the hundreds of downsides of a virtual fiat currency
backed by nothing, which is highly unsafe and almost every economist
out there labeled it as unsafe and very risky:

This is how the bubble graphic looks like:

[Image: _71650444_bitcoin_daily_price_2013_464gr.gif]

Few days ago I had several posts with reasons why Bitcoin will crash
down very hard

And surprise surprise, Bitcoint went down from ~995 $ to ~650 $

And it will continue going down, because of the many reasons which I outlined in my previous posts

What "Business Insider" are writing about BTC:

http://www.businessinsider.com/bitcoin-i...ns-2013-11

On top of all these laws requiring the U.S. dollar to be used, the United States has a gigantic military that can force people around the world to use dollars (if it came to that) so yes, there's a lot of real-world value behind greenbacks.

Bitcoin? Nada. There's nothing keeping it being a thing. If people lose faith in it, it's over. Bitcoin is fiat currency in the most literal sense of the word.

But it gets worse. Bitcoin is mostly just a speculative vehicle. Yes, there are PR stunts about bars and other shops accepting bitcoins. And there is a Bitcoin ATM for some reason. But mostly Bitcoin is a speculative vehicle. And really, you'd be insane to actually conduct a sizable amount of commerce in bitcoins. That's because the price swings so wildly, that the next day, there's a good chance that one of the parties will have gotten royally screwed. Either the purchaser of the good will have ended up totally blowing a huge opportunity (by not holding longer) or the seller will be totally screwed (if Bitcoin instantly plunges). The very volatility that excited people to want to play the Bitcoin game is death when it comes to real transactions in the real world.
12-17-2013 06:12 AM
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fortyfor Offline
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Post: #767
RE: Bitcoins up 60% in less than a month
BTC China rates imply a $588 equivalent price - down 57% from its highs.

http://www.zerohedge.com/news/2013-12-07...e-two-days

the epic move of BTC from $1155 to $576 hapenned in hours
12-17-2013 06:22 AM
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JayJuanGee Offline
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Post: #768
RE: Bitcoins up 60% in less than a month
(12-17-2013 06:22 AM)fortyfor Wrote:  BTC China rates imply a $588 equivalent price - down 57% from its highs.

http://www.zerohedge.com/news/2013-12-07...e-two-days

the epic move of BTC from $1155 to $576 hapenned in hours

Yes, more of the subject matter of "I told you so" that inevitably, we anticipate that there are going to be ups and downs (volatility) in the BTC price.

Whether BTC is down for the count is going to take much longer to play out and to call it dead. FortyFor, you are much too early for making that proclamation..

Additionally, I do NOT know what time-period you are referring to regarding the drop from $1155 to $576 in BTC China, and most of us are NOT using BTC China as our reference point for our information about BTC price; however, yesterday, the "crash" on Bitstamp and BTC-e was from about $850 to $640 and then back up to largely fluctuate between $690 and $730. So maybe in a day, we would say about a 17% drop? temporary or NOT, who knows? we are in the midst of this.

It would be nice to know, exactly when this crash is going to happen, b/c several guys were shouting doom and gloom when BTC had reached the mid-$650s, yesterday, then a guy could have made 15% in the next 3-4 hours, by investing in BTC at $650 and selling at $740, if he were to time his transactions well. Good time to get into BTC, even though some people were saying to "hold dollars."

Yes, several guys, including you and El Mech seem to be predicting a crash in the coming days... but when is this crash going to come exactly? B/c even when guys are saying stay in dollars, I am NOT convinced, especially when the market just went up 15% in 3-4 hours.

All I see is volatility of ups and downs, and I would NOT call that a crash, exactly. Something is missing about any certainty as to when this crash is going to occur and how much of a crash it will be. It may be likely that a crash will occur, but I am NOT sure about what factors would allow any guy to solidly predict a crash as inevitable.

The price of BTC could shoot up again almost as easy as it could shoot down, and let's say it crashed upwards, it may NEVER return to today's rates. So, we will have to see.

A lot of us already expect volatility in the price of BTC, but a drop does NOT necessarily mean a crash that is long lasting or that a guy would be able to predict its bottom. Also, even if such a crash were to take place and BTC were to be down at $200 for a month or two, there may also be factors that would cause it to rise again. Then would that be the death nell of BTC?

None of us really know about where this price is going for sure or the long term viability of BTC, so I do NOT see the point of "I told you so" postings that just repeat the same already raised themes that are occurring in the midst of downward volatility. Sure BTC price is DOWN FOR THE MOMENT. Agreed, but it is also UP, depending on what time frame. If you look at the beginning or even middle of November, BTC is UP.

Because there is quite a bit going on with BTC, I expect this kind of BTC volatility for at least a couple of years.. that is if it continues to exist.


EDIT: After i posted, I saw where you got the $1155 to $576 price drop, and that was from the December 7 article describing something that happened on December 5 and 6 - two weeks ago. Ancient history in BTC news, and you did NOT describe that old news in context.... which seems that you are spewing out this old information merely for a fear mongering effect.
(This post was last modified: 12-17-2013 07:29 AM by JayJuanGee.)
12-17-2013 07:16 AM
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fortyfor Offline
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Post: #769
RE: Bitcoins up 60% in less than a month
In the moment when I started saying that BTC will crash, it started to go down, and it lost over 400 $ in value.

One year from now, it will be again under 30 $.

http://business.time.com/2013/12/13/euro...n-dangers/

Most of Western Europe is against Bitcoin, the same is China.

Next... even the biggest fans will start losing faith... and then it will be all over:

Because the vast majority of BTC owners are not even using BTC... they are ONLY HOARDING IT,
dreaming it will go up, but there are no reasons to go up, but only to crash down:

http://www.theatlantic.com/business/arch...ts/282364/
12-17-2013 08:56 AM
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Satoshi Offline
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Post: #770
RE: Bitcoins up 60% in less than a month
I think the biggest reason for the price drop is guys like el mechanico who are selling to get back in cheaper. Then we should get a bounce back when they get in again.

(12-17-2013 08:56 AM)fortyfor Wrote:  In the moment when I started saying that BTC will crash, it started to go down, and it lost over 400 $ in value.

One year from now, it will be again under 30 $.

http://business.time.com/2013/12/13/euro...n-dangers/

Most of Western Europe is against Bitcoin, the same is China.

Next... even the biggest fans will start losing faith... and then it will be all over:

Because the vast majority of BTC owners are not even using BTC... they are ONLY HOARDING IT,
dreaming it will go up, but there are no reasons to go up, but only to crash down:

http://www.theatlantic.com/business/arch...ts/282364/

We will never see that cheap coins again. I can guarantee you about that. I bought a subscription for a dating site myself yesterday using bitcoin.
(This post was last modified: 12-17-2013 08:59 AM by Satoshi.)
12-17-2013 08:57 AM
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Maciano Offline
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Post: #771
RE: Bitcoins up 60% in less than a month
Fortyfor,

You're wrong. Very, very wrong. And you will be proven wrong. Most annoying of it all is that the likes of you have been around since bitcoin started. Bitcoin isn't going down because of volatility, but because of China making trading nearly impossible. If I'd break Usain Bolt's legs before the 100M Olympic finals, did he lose because he was too slow or because he had a broken leg? You must argue the former.

The fundamentals of the bitcoin payment network have never been as good as today. See http://www.bitcoinpulse.com for example. I want to make a bet with you, are you up for it? We'll bet 1 BTC for it or the dollar exchange rate of the moment of taking the bet.

"Bitcoin will trade twice as high (MtGox in $) in the next rally as the highest peak of nov/dec '13."

Considering you're so cock sure of yourself, that's easy money.

Also, stop saying people hoard bitcoins. BitPay, Coinbase are processing records of new merchants every week. Accounting for 100M $. It's a total lie, only the most uninformed person could say that. If you keep lying I must assume you're a troll.
(This post was last modified: 12-17-2013 09:07 AM by Maciano.)
12-17-2013 08:59 AM
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el mechanico Offline
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Post: #772
RE: Bitcoins up 60% in less than a month
I have a screenshot in my phone I sent to some friends BTC @ 483 a month or so ago. Holy shit 483!

Now, The rise..I have a certain amount of money. Who cares if it's 300 or 80? It goes up and down fast so your job is to make money and when you're uncertain hold in USD.

Bubble? Who cares.
12-17-2013 09:48 AM
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Maciano Offline
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Post: #773
RE: Bitcoins up 60% in less than a month
Indeed, I'm going to stop wasting time on all these bitcoin fundamentals. I'm going to make me some money.

Others can believe whatever they want.
12-17-2013 10:58 AM
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el mechanico Offline
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Post: #774
RE: Bitcoins up 60% in less than a month
I've been watching BTCCAST and China is NOT buying/converting money. It went to about 260 btc per minute to 0.

They will dump.
12-17-2013 12:09 PM
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pants Offline
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Post: #775
RE: Bitcoins up 60% in less than a month
Dose that not mean standing still? Activity means up or down?

I got the feeling of down to, but no idea why..

Still, I am holding, last I sold was on 180. Not doing that mistake again.

I don´t think its gonna go much up until February/Mars now. The fear in the market will remain for a while.
12-17-2013 12:48 PM
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