Bitcoin price skyrockets, crashes, rinse, repeat, internet starts investing in tulips

criesofthepast said:
I know what you mean. I was trading LTC at $1.80 just a few months ago. If only I bought more I would be posting this from a private island. :(
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I bought into LTC at 3.80 a coin (initially I had 87 LTC. I flipped it to BTC and sold my BTC at 200 a coin.

I lost about 100 dollars altogether between trade fees and all so no big loss but I sure wish I'd held on longer. I would have been laughing when LTC was 50 a coin.
 
PANIC

j/k I'm not holding anything. This is why if you don't know what the fuck this is or plan to buy/hold long term you don't 'invest'.
 
I put $250 in BTC knowing it could disappear in the blink of an eye. Not panicking. That 250 is money I DGAF about. Which is how you should treat BTC at the moment.
 
Ba0u8gICEAAE7Kf.png


that rebound
 
yea is crashin pretty hard. i guess since I already pulled out my initial seed money, i'll stick it out for a while longer.
 
bistromathics said:
hoo boy, yeah. guess it's time to start buyin again? :P
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Don't try to catch a falling knife.
I'm personally not a fan of bitcoin speculation, but if you want to do so, do yourself a favor and don't buy into it when the price has such downward momentum.
The potential reward (catching it when it nears the bottom) is not worth the risk.
 
Fellows are so silly. Anything over 250 is simply amazing to me still. Even when I entered the market around 10 USD, 30 % swings were the normal. BTC has always been volatile. I still can't believe four digits so quickly, did not expect that this year.


bistromathics said:
thread title needs an update, methinks

rV09HBN.png
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Going to be doing a lot of title updating in this market.
 
Holy crap btc down to 700 from 950 in less than 5 hours. China dumping btc?

ltc losing abit of value but surprisingly resistant to dropping hard. Market is panicking though. Btc-e troll box is hilarious.
 
DownLikeBCPowder said:
Fellows are so silly. Anything over 250 is simply amazing to me still.
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This is an unhealthy way to look at things.
The price you payed only matter for bragging rights and how good are you going to feel about your decisions, but it really shouldn't factor into the decision to buy or sell more bitcoins.
You currently hold an asset, the only thing you need to ask yourself is if you think it's going to appreciate or depreciate over the period of time that is relevant for you.
 
Chichikov said:
This is an unhealthy way to look at things.
The price you payed only matter for bragging rights and how good are you going to feel about your decisions, but it really shouldn't factor into the decision to buy or sell more bitcoins.
You currently hold an asset, the only thing you need to ask yourself is if you think it's going to appreciate or depreciate over the period of time that is relevant for you.
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I'm not bragging about anything, simply stating that I would become concerned if the price continued to fall below the point I mentioned. The 250 marker has nothing to do with a "buy in price", it has to do with my assessment of the market.
 
I want to get money back,in the market but cavirtex requires verified accounts now ... I'm not sure I'm comfortable sending them pics of my gov ID.

Last time I put money in we didn't need to be verified.

With that said I believe the bottom will be around 100 - 200 btc and ltc will hold in the low teens. I want in for the next big pump months from now.
 
Bamelin said:
I want to get money back,in the market but cavirtex requires verified accounts now ... I'm not sure I'm comfortable sending them pics of my gov ID.

Last time I put money in we didn't need to be verified.

With that said I believe the bottom will be around 100 - 200 btc and ltc will hold in the low teens. I want in for the next big pump months from now.
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localbitcoins.com or bitcointalk.org - find a private seller, arrange escrow if concerned.
 
According to the research for this type of cycle, there is a crash, then denial and re-buying in which raises the price, then the final crash and then stabilization.
 
damn it, where's the image of the crazy zig-zag charts guy when you need it?

edit: no really, can somebody hook me up with a link for that? i can never find it when i want to.
 
Hitokage said:
Too bad bitcoin doesn't actually grow.
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So... the market for Bitcoin hasn't grown? I'm confused by your statement. It can't be the amount minted, that's still growing for the moment. It can't be adoption, that's growing. It can't be market participation, that's growing.. care to enlighten me?
 
Can't believe I don't have any funds in my Satoshi account right now.

Anyone have reccs for buying outside the exchanges? ie marketplace forums?
 
huxley00 said:
According to the research for this type of cycle, there is a crash, then denial and re-buying in which raises the price, then the final crash and then stabilization.
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Bitcoin enthusiasts better hope this is the case, because nobody will want to accept bitcoin as payment for legal items when the currency is this volatile.
 
Suikoguy said:
Bitcoin enthusiasts better hope this is the case, because nobody will want to accept bitcoin as payment for legal items when the currency is this volatile.
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I thought all the subway sandwich shops accepted bitcoins.
 
Suikoguy said:
Bitcoin enthusiasts better hope this is the case, because nobody will want to accept bitcoin as payment for legal items when the currency is this volatile.
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It has always been this volatile, give it time.

mattx5 said:
Can't believe I don't have any funds in my Satoshi account right now.

Anyone have reccs for buying outside the exchanges? ie marketplace forums?
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www.Bitcointalk.org and www.localbitcoins.com

Hitokage said:
It's a constrained money supply, hence the joke.
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Sorry dorry, I'm all serious faced over here watching bitcoinity.org ;p

Carpe Libertatem said:
No, not all. There's one guy who owns a Subway in Pennsylvania that accepts them.
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And in Russia. Gotta start somewhere. The amount of places that accept BTC simply amazes me, but again, I've been into coin for a relatively long time in terms of the market's lifespan. www.coinmap.org

I wouldn't have bet myself (and I'm speculative to the core) we'd be where we're at already.
 
Coreda said:
Has anyone used this site? I'd like to know if most sellers would adjust their prices accordingly as the value decreases, currently it seems many are just the previous price. Guess I'll have to give a few more days.
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Used it many, many times. It is exceedingly popular. Sellers list based on an exchange + X percent, so it depends on the seller in question. If you aren't in an urban area you may have less access (if any) to sellers, therefore they may ask for higher prices. But as BTC drops or raises on Stamp, the prices should reflect it (as they are Stamp + X% based, for example).

You can do the same and list a buy ad with your requested value based on exchange rate (the rate you enter will be tied to an exchange). You aren't bound by entering a buy or sell ad, it's simply a way to mark interest. With this site you can communicate with buyers from across the nation who offer other methods of purchasing or selling coin in the event a local meetup is not possible, such as bank deposit at a local branch.

I wouldn't recommend the escrow there, however. Nothing better than an in person meetup.
 
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