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| danny_galaga:
--- Quote from: dkersten on January 31, 2018, 10:31:32 am --- --- Quote from: danny_galaga on January 31, 2018, 09:43:52 am ---What's funny about all the hype (on ANY speculation) is that you hear about huge gains. X was this price in 2012, and now it is 20 times that price. Psychologically we think 'Man, some people must be rolling in it now and I missed the boat'. The thing is, almost no one will have been in from the get-go to this point in time. You can bet 90% of people currently holding whatever it is bought it at 19.5 times the original price in the last month or so. People jump out for many reasons and at many profit margins. So there are a stack of steps from 2012 to now. And each step is people selling out, and others buying in. Maybe the actual average profit, instead of being 2000%, is actually 5%. Not bad at all if you had it for a month or so, but nothing to write home about... --- End quote --- A few months back though there were a lot of people who had forgotten they had some bitcoin and suddenly heard it was worth 10 or 15 thousand dollars, but it certainly wasn't like they knew they had it and were holding out for it to reach $15k. If they had discovered they had it when it hit $1k they probably dumped it. And the fact is, if bitcoin ever hits $30-40k, there will be another wave of hype and people will discover more coins they didn't realize they had. Otherwise I completely agree, anyone who is even a little aware of what is going on is not sitting on bitcoin that cost them 3 cents waiting for it to hit $20k... --- End quote --- I doubt there really were a LOT of people. For a commodity (even a pretend one) to increase in value over time requires lots of transactions and lots of volume. If say no one EVER sold their bitcoins, ever, but only bought them what is the value of a bitcoin? There is of course the 'founder' of bitcoin where apparently he holds billions of dollars worth but no one knows who it is etc. If that story is true, then I would say he died. People die all the time due to accidents or ill health and leave behind stuff no one knows what to do with. |
| fallacy:
I bought some bitcoin because of what Clif High said about it at 47:00. I don't know half of me thinks it will go down before it goes up but in long term I think it will work out. |
| yotsuya:
Yes, it’s always a good idea to take your financial advice from some Dude’s YouTube channel. Especially when he’s sitting in front of his Batman posters. Keep us updated. I will live vicariously through you. |
| fallacy:
ow no I did it again I bought 5.5 in Ethereum. I got lucky... I think in the last 3 weeks I have been watching Ethereum I have noticed the market really seems to like it at $1000 it goes up to 1200 and than back down to 1025. As we know I sold it for around 1010 so I am just not going to buy back in for more than I sold that's how you lose money; but I was like if it ever goes back down around 960 I will hope back in. Today I was sitting there watching GDAX and it finally went back down to 1025 and I had $1500 sitting in my Gdax so I was like I will buy 1 coin, if it goes back up to 1100 I will make something but if it does drop more into the 900 range I am buying more coins. I put in a buy order for the rest of my $500 for .5 ETH at 955 next hour i looked over and my order was filled and it was continuing to drop now in the 940 - 930 range. I was like aw man what do I do I have been waiting on this for a while; I was like ok I will buy 4 more coins and if it continues to drop into the 800 range I will buy another 5 coins. I did not have the money in my GDAX account so I had to use coinbase and they charge a fee I bought 4 coins at 941 but with the fee you can say they ended up being 955 each. Soon as I clicked purchased the price shot back up it is now going between 1000- to 1025 range |
| Drnick:
A friend of mine has been playing with cryptocurrency for a few months and what he did was buy in to coin with £880 worth then set an alert for over £1000 and another for under £900 he sells at over and buys it at the under. Because of the swings in crypto it didnt take long to double his money so he then bought another coin giving him 2 coins He repeated the procedure for another month and had enough for 4 coins so cashed out the original coin and the rest he now sees as gambling money :) To give you some idea of the money made in short term Etherium was 654 on christmas eve and on 13th jan it hit 1360, that is 100% profit in 21 days. But you do have to see it as gambling, if you can't afford to lose it then do not put it in. His recommendation is see what etherium does over the next week and if the swings continue then buy under 1000 and sell over 1100 (10% profit every few days) eventually the bottom will drop out though so never put in more than you can afford to lose. |
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