Time to get some more Bitcoins?

slayerment said:
Like 5 min block updates vs 10 min block updates? Or a different mining algorithm? Or a different coin limit? All things that are less than 1% different than BTC and that make no difference in the real world. Moreover, even if they did matter Bitcoin could adopt any of these "improvements" and update the protocol.

If you follow any of this at all you will notice that the gap between BTC and alt coins has only widened the last 6 months. Alt coins matter much less while Bitcoin matters much more.

Moreover... it's not about Bitcoin. It's about cryptocurrencies. Let Bitcoin get replaced by another alt coin. It's cryptocurrency that is here to stay. Whether or not the leader remains BTC matters very little, but the data shows that Bitcoin is growing while alt coins are fading. People shouldn't be excited about the price of Bitcoin, they should be excited about the utility of it.
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Human and Bonobo Ape DNA code is 99% similar yet we're very much different. So 1% can make all the difference. So what if altcoins reuse tons of code from bitcoin. This '1% difference in code' line must be a new pro-btc talking point or something. I know many pro-btc groups just huddle together and tell each other why they've made a great investment hoping to alleviate each other's fears.

Block update times make no difference in the real world? You've got to be kidding. I think they do, and I'm guessing more would agree with me - those who aren't already highly invested in BTC that is.

Also, not all altcoins are going down compared to btc. I heard ripple is kicking btc's ass and went up the entire 2014 year unlike btc.

But you are right that btc could adopt improvements if they wanted to. But this is also the reason btc is not the anti-inflationary money that many hoped it would be. At any point the code can change based on the politics of the programmers and they can inflate it or do whatever they want with it. Btc code changes are implemented based on a democratic system of fallible programmers unlike gold/silver which doesn't give a shit about human emotions, political fads, ideologies, etc.

But if you only care about crypto's surviving and changing the world, not necessarily btc, then you might be on to something. I just hate the idea that people might always have to be looking for the next-best-thing and changing their currency all the time.

Also there's always the possibility that btc will overcome all I've said and be #1 crypto for 100 yrs. If so grats on your speculation.
 


Bought .25 just last night and been trading it on Bittrex today. Trading is pretty fun and lucrative if you have some money to kick around (obviously more than .25). Set all my sells for tonight, need to get some coding done now lol.

Also I think BTC would be a wise investment right now. Follow quite a few traders and speculators on Twitter and there's a lot of talk that BTC is going to start moving up again. Take that with a grain of salt, but I might put some more money in it, better than letting my money stagnate in the bank at least.
 
Apparently, you were right. $270 now, and humming along.

Damn, I hope this isn't the end of low prices. Another year or two of hoarding would be great.
 
Phear said:
Also I think BTC would be a wise investment right now. Follow quite a few traders and speculators on Twitter and there's a lot of talk that BTC is going to start moving up again.
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Instead of listening to jerks on twitter, just look at the price. If it's going up, then BTC is going up.
 
seapunk said:
What am I even reading? That's obvious.
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You'd be amazed how many 'investors' don't understand that simple point. Why do you think most beginner stock traders fail? The price is the only signal you need, but they go looking everywhere for something else. Most read it wrong anyway..

BTC goes down
"oh it's a great time to buy, they're never gonna be this cheap again! gotta stock up!"

BTC goes up
"oh i've already missed the boat, it's reached the peak, I'm not going to buy now, I'll wait until it goes down".

Both approaches will ultimately lead to a total loss given enough trades.

Go run a backtest on 30 years of financial market data and see if buying something that has gone down in price ever results in a long term profit.
 
icestationzebra said:
You'd be amazed how many 'investors' don't understand that simple point. Why do you think most beginner stock traders fail? The price is the only signal you need, but they go looking everywhere for something else. Most read it wrong anyway..

BTC goes down
"oh it's a great time to buy, they're never gonna be this cheap again! gotta stock up!"

BTC goes up
"oh i've already missed the boat, it's reached the peak, I'm not going to buy now, I'll wait until it goes down".

Both approaches will ultimately lead to a total loss given enough trades.

Go run a backtest on 30 years of financial market data and see if buying something that has gone down in price ever results in a long term profit.
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Have you ever traded before? I'm really curious.

The million dollar question is when you buy. Here's an exaggerated example: You have an investment, and it's going up in price.

How do you know that if you buy today, it's not going to tank tomorrow?

Even if the price goes up eventually, what if it never returns to the price you bought in at?
 
seapunk said:
Have you ever traded before? I'm really curious.

The million dollar question is when you buy. Here's an exaggerated example: You have an investment, and it's going up in price.

How do you know that if you buy today, it's not going to tank tomorrow?

Even if the price goes up eventually, what if it never returns to the price you bought in at?
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Oh, oh, I know the answer. KNOW what you invest in. Don't speculate like an idiot, and know both, the industry and company you're investing in inside & out.
 
seapunk said:
Have you ever traded before? I'm really curious.
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Yes I trade but my trades are placed daily and held over months, I don't do anything short term.

seapunk said:
The million dollar question is when you buy. Here's an exaggerated example: You have an investment, and it's going up in price.

How do you know that if you buy today, it's not going to tank tomorrow?
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There's a 50% chance it will tank, there's a 50% chance it won't. You'll never know exactly when to buy, the best you can hope for is a 50/50 chance. Anyone who thinks they know is either delusional or has inside information. My system buys on a 3 standard deviation bollinger band breakout, super simple stuff.

So how do you make money? You make money by cutting the losers short like with a predetermined stop loss of 1-2% of your total capital, and letting the winners run. As soon as a position turns against you, sell it. It only works long term over months, if you tried this day trading you'd be fucked by the commissions.
 
Kiopa_Matt said:
Oh, oh, I know the answer. KNOW what you invest in. Don't speculate like an idiot, and know both, the industry and company you're investing in inside & out.
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Actually nah, researching companies and shit is a fools errand. The only thing you need to know is the price, who cares what the company does.

Key quote from David Harding who manages 20 odd billion dollars... "we don't have reliable ways of forecasting markets, we succeed by just going on betting and we have you know, only a slight edge.. so I wouldn't want any of your listeners or readers to follow my ideas."

This is the only guy that's actually honest about this shit. They keep trying to get predictions out of him about what to buy and he never gives them because they don't exist.

[ame]http://www.youtube.com/watch?v=1ocHM5akwkQ[/ame]
 
Kiopa_Matt said:
Oh, oh, I know the answer. KNOW what you invest in. Don't speculate like an idiot, and know both, the industry and company you're investing in inside & out.
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So much fail in one sentence I don't even.

Look man, you need to get the difference between investing and speculating into your head.

Even if you are 10000000% right about Bitcoin and it goes to the moon you are still SPECULATING not INVESTING.

Please please please educate yourself as any sense you are making in your posts (which is few and far between) gets lost in the plethora of ignorance.
 
It's fun logging into Wickedfire for first time X months and still seeing the exact same threads.

This is going to be one nostalgic forum for me in 20 years when I'm logging in then. When everyone's still talking about bitcoins and what the point of marriage is.
 
What all this talk of investing abs speculating? Bitcoin is basically money. Possibly a hedge against inflation and or deflation.
 
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