Bitcoins are tanking?

Ocean

Ocean

Supreme [H]ardness
Joined
Oct 19, 2003
Messages
4,927
$280 as of this post. Holy.

Good buy for anyone who wants to gamble i suppose.
 
Only if you're going short term. The 3d chart has gone completely vertical on BitcoinWisdom. You'll have all of 2015 to make up your mind if you want to invest in BTC. The difference between paying $200 (or less) and even as much as $500 is either amazing profit or really good profit if BTC is going to follow with new ATHs in the future.

But, at the rate its tanking, if you're setting on buying BTC at $2XX or less, you can do so right now and in the next few days.
 
Anyone watching the 21K BTC $300 sell wall at BearStamp (apparently that is its new nickname) right now? Holy manipulation. :eek:

Can now say I've seen things first hand that will never be seen in regulated markets.
 
blade52x said:
Anyone watching the 21K BTC $300 sell wall at BearStamp (apparently that is its new nickname) right now? Holy manipulation. :eek:

Can now say I've seen things first hand that will never be seen in regulated markets.
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Welcome to Cryptocurrency. Keep watching, you see fractional share sales that will lead the markets when it's quiet. Among other things..
 
that was the 26k at 300 per wall it was gone very quickly and btc is already on the upswing.
 
Ouch!! Glad I'm not mining, can't see any positive ROI at this point. Only way to come out on top would be not paying for rent, electricity or the rig.
 
Aspendancer said:
Ouch!! Glad I'm not mining, can't see any positive ROI at this point. Only way to come out on top would be not paying for rent, electricity or the rig.
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Happened exactly one year ago with LTC as well. It wasn't profitable for many to mine when it was trading close to $1. But these days there are ASICs so there's no profitable mining to look forward to with LTC for most of us. I'm not sure how saturated with FGPAs DRK is, so maybe there will still be very profitable X11 mining to come. But, BTC needs to rally first. We're sort of hovering around $350, and I expect a test of lower prices. Then the beginning of a long sideways grind. Of course, sideways in crypto could still mean up and down 50% over the course of a few months.
 
I quit predictions. Now we're pushing $400. What a hard rebound. This trend reversal could be coming sooner than expected. Now all of a sudden people are throwing price targets of $430 - $480. If you are a good trader, why would even stock market. I mean seriously... And ths is also why I do cost averaging. Because you can never be completely wrong! :p
 
Hmm so is this a good time to buy then? I'll wait out a little first and see if they go down even more.

Good news is, we might see some asics go for cheap. :p
 
I think it was pretty obvious that there was capitulation down at $275-$300... nothing like the person dumping 10k right at the bottom and then the bearwhale not too far away from the bottom.
 
Price swings like these are a trader's wet dream!

:D
 
That whole adage about 'don't spend money you can't afford to lose' is too antiquated. Better would be, 'every dollar spent you will never see again. Make no hopes, have no dreams. But never say never.'

Buy low when the sellers are selling low, sell high when the buyers are pretty much shoving money into your hands. Don't try to game the system. Plenty of others do it themselves, they usually screw things up for them, but your due patience will allow you to swoop in and buy low, buy low.

And if this whole thing goes bust? I told you, make no dreams, have no hopes.
 
lol. reddit had something where some guy complained he invested his retirement savings (a whopping 85k) when bitcoin was at $1005

Personally, when you could mine them, great. Purchasing them, screw that. They are not an investment but a speculation. They have no intrinsic value. You can say the same about money in general, but debt will typically be linked to physical objects and it would probably take the collapse of governments to destroy money (also likely at some point).

So people buy bitcoins and congratulate themselves at what excellent investors they are while climbing over the bodies of people that got burned when the market was high.

So for any bitcoin investment advice, it is all bullshit. You are gambling, and flipping a coin can be just as accurate as anything else in predicting the future.

For more, I recommend Nassim Taleb's books, the black swan and fooled by randomness.
 
I decided to sell 2 weeks ago because it looked like BTC would only go further down. Of course it's going up again now..
 
not sure if these are dead cat bounces or what. bitcoins were incredibly overvalued at 1200 so this correction over the last year is somewhat expected anyway
 
Hostivar said:
I decided to sell 2 weeks ago because it looked like BTC would only go further down. Of course it's going up again now..
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i allways been in the same boat.

it still hurts i sold 60 of them for $300 when that was high then a few months later they where like $30 and it sucks i was broke and poor becues i only had 1 gpu then i bought 2 more 6950s then bought 3 7970s. i knew they would be money to be made in them but no one wanted to buy gpus whit me. i wanted to sell our bar of sliver when a bar was worth like 3g and buy gpus when coins where still in the $5 range could have made a lot of $$$$
 
tunatime said:
i allways been in the same boat.

it still hurts i sold 60 of them for $300 when that was high then a few months later they where like $30 and it sucks i was broke and poor becues i only had 1 gpu then i bought 2 more 6950s then bought 3 7970s. i knew they would be money to be made in them but no one wanted to buy gpus whit me. i wanted to sell our bar of sliver when a bar was worth like 3g and buy gpus when coins where still in the $5 range could have made a lot of $$$$
Click to expand...

yeah thats why I decided to stop selling and just hold them for the next couple years. I'm hoping when adoption/scarcity picks up they'll be worth a lot more but who knows.
 
blade52x said:
Only if you're going short term. The 3d chart has gone completely vertical on BitcoinWisdom. You'll have all of 2015 to make up your mind if you want to invest in BTC. The difference between paying $200 (or less) and even as much as $500 is either amazing profit or really good profit if BTC is going to follow with new ATHs in the future.

But, at the rate its tanking, if you're setting on buying BTC at $2XX or less, you can do so right now and in the next few days.
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6 months later. Look at this post, then look at the going price on BTCE then LMFAO.

I basically gambled during the litecoin boom and somehow made out with $1000 extra bucks to spend on my family for Christmas. I would never do it again. There is rampant manipulation and when it's not being completely manipulated it's run purely on amateur speculation and people flat out rolling the dice.

I'll go on record here and say that anyone putting any money into crypto at this point is either stupid or is wealthy and knows basic market manipulation. Just look at the long-term charts. It's not going back up any time soon, and if that wasn't enough then the increasing amount of exchanges running with the money for me is also a tell-tale. Wonder if BTCE will be one of the next ones.
 
My first post said go short only - and we went from $280 to $400 that following week or month or whatever, at which point I said:

blade52x said:
We're sort of hovering around $350, and I expect a test of lower prices. Then the beginning of a long sideways grind.
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Then BTC did crash to lower prices, and so far 2015 has been pretty uneventful. And then it goes back to my original statement of saying you'll have all of 2015 to make up your mind.

Also:

blade52x said:
I quit predictions.
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I don't think anyone here is seriously invested in crypto. It's just fun to try to read and predict the patterns. But maybe I should actually try at some point. I don't think I'm too bad at this. But when real money gets involved, emotions get involved, and everything goes to hell no matter what. :p
 
A lot of people here are invested in crypto: they're building machines and farms, paying electric and cooling bills to mine. I guess we can argue about "serious", but to me any time ROI isn't forthcoming, the investment is a loss -- and that's serious!
 
Still?
If so, they are lurking in the shadows.
All the post you see here are months old except for a few stragglers.
 
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