(11-03-2015 02:46 AM)Satoshi Wrote:  Don't get to excited now. Maybe your girlfriend did a good decision.

Nope. I am not getting too excited or attempting to predict the BTC price market for sure because I claim that I really do not know which way the price is going to go.

Anyhow, she had a pretty good idea about my situation and that I had been buying all the way down for the past two years and then I had a few months in the beginning of the year that I could not buy BTC at the so far bottom of the dip of the past year. Then later in this year I was able to continue to buy and to accumulate quite a few coins in the below $280 arena.

Therefore based on my ability to accumulate a decent number of coins in the below $280 price arena, I classified my total holdings of coins into 4 categories, which allowed me to prepare a plan of more or less four phases starting at $250, in accordance with the plan, I was able to begin to sell within small increments - which allows differing amounts (different phases of selling) all the way up to the current price

Based on the price rise, I pretty much (so far) have been able to pass through phases 1 and 2 and was able (under my preset plan) to sell more and more - only in accordance with preset limits, continuing to buy on the way down and sell on the way up.

My girlfriend was watching me and seeing how much I was improving my financial position regarding my holdings, and she decided to employ an all or nothing profit-taking (because at $350, her BTC portfolio was more than $100 per coin in the black), but that is not what I am doing, and she did nearly the opposite of what I was stringently recommending. Surely it is possible that she could get lucky and she may end up being correct; however, the market seems to be fairly clearly and much more likely lined up in a different upward direction, at the moment.

My portfolio is somewhat agnostic and prepared for either direction. If the price goes up, then I am making at least 70% more than I am trading, and if the price goes down, I have staggered considerable amounts of fiat to be able to buy back in and still make a profit.

Yes, I do better if BTC price goes up compared with my profits if it goes down, but this market rise has really put my portfolio in a decent position for price moves in either direction.

Her selling everything at $350 does NOT hedge her bets in even a small way, and it is very risky in these times.... given the way that the market seems to be lining up.

likely her behavior is going to make it easier for me to next her when the time comes. hahahahahaha.

Here's an interesting bullish article about bitcoin. Have to take the contents a little bit with a grain of salt because it is a discussion with various individuals invested in Bitcoin. Nonetheless, the speculation is within the realm of feasible.

http://www.ibtimes.co.uk/bitcoin-become-...30-1526925

The volatility is killing me. I bought some bitcoin back in September for 230 and now it's up to 315!

I wonder how long the Chinese rally will last.

For those who enjoy trading, I threw 1000$ on the GBTC fund (Winklevoss twin's bitcoin fund).

Finally it's moving I'm going to sleep with my ltc sell order at $98 and BTC @ $10,000

(11-03-2015 12:50 PM)The Beast1 Wrote:  The volatility is killing me. I bought some bitcoin back in September for 230 and now it's up to 315!

I wonder how long the Chinese rally will last.

For those who enjoy trading, I threw 1000$ on the GBTC fund (Winklevoss twin's bitcoin fund).

I don't believe that it is merely the Chinese driving this rally.

If you study the bitcoin exchanges a little bit, you will see that Bitstamp really was not following the Chinese exchanges, but instead Bitstamp had mostly been leading the price (up until now).

On the other hand, as this rally has kind of fallen off the rails in the past days, into a kind of parabolicism (if that's a word?), it has become a little more difficult to determine who is going to be leading because everything is kind of feeding on everything else with a kind of crazy and voluminous upward price momentum.

I will definitely concede; however, that some Chinese contributions are likely having material effects on the magnitude and direction of this rally, including at least:

1) the fiat currency deflationary issues and concerns about being able to move capital,

2) Chinese government's sort of "green light" to bitcoin,

3) Chinese cultural inclinations towards gambling and

4) zero fees on many of their bitcoin exchanges.

(11-03-2015 01:15 PM)el mechanico Wrote:  Finally it's moving I'm going to sleep with my ltc sell order at $98 and BTC @ $10,000

I'm glad at least one of us is thinking BIG.

(11-03-2015 12:50 PM)The Beast1 Wrote:  The volatility is killing me. I bought some bitcoin back in September for 230 and now it's up to 315!

I wonder how long the Chinese rally will last.

For those who enjoy trading, I threw 1000$ on the GBTC fund (Winklevoss twin's bitcoin fund).

Are you referring to the Gemini exchange, or something else, because I thought that the fund (referred to as ETF) was a different thing, and had not yet been approved by the Government?

For shits and giggles, a few weeks ago, I opened an account on the Gemini Exchange, and I put some bitcoins and fiat on there and linked it to my bank account.

In recent weeks, I also transferred some bitcoin and some fiat over to the Coinbase exchange, which I am not sure at this time about how many differences there are between Coinbase and Gemini, if any.

Possibly there could be some daily/weekly funding limit differences and attempts of Gemini to appeal more to wallstreet and institutional type investors?

Additionally, actually, I am not really sure why I had not played around a little earlier with the Coinbase exchange because it seems to work pretty well and the fees are really not too bad.

When the price had been so low for so long (floating in the lower $200s, it was difficult to generate enthusiasm - even while continuing to accumulate coins).

So what is the best bitcoin wallet to use? Is there a beginner's guide to getting into the market? Thanks for any advice.

(11-03-2015 02:40 PM)DamienCasanova Wrote:  So what is the best bitcoin wallet to use? Is there a beginner's guide to getting into the market? Thanks for any advice.

Establishing accounts with Circle and Coinbase are good places to get started for people in the USA. I prefer Circle personally, but it may be good to have both in order to have more flexibility, which comes in handy from time to time.

I was just reading about them at https://bitcoin.org/en/choose-your-wallet

And it seems to me by using web based wallets you are putting a lot of trust into Circle & Coinbbase and allowing a third-party too much control over your currency, or potential for hacking, theft or going out of business. Wouldn't you prefer a desktop based program or a hardware chip where things can be more secure and able to be taken offline easily?

I wouldn't bother with coinbase or circle.

just go to localbitcoins.com and buy from another user with paypal or moneygram. so much faster and easier....coinbase has all sorts of bullshit limits and rules

(11-03-2015 03:22 PM)DamienCasanova Wrote:  I was just reading about them at https://bitcoin.org/en/choose-your-wallet

And it seems to me by using web based wallets you are putting a lot of trust into Circle & Coinbbase and allowing a third-party too much control over your currency, or potential for hacking, theft or going out of business. Wouldn't you prefer a desktop based program or a hardware chip where things can be more secure and able to be taken offline easily?

I understand your point, and there are trade offs with each system. If you want to get started quickly, then it is good to get into some kind of traditional system (because it is less burdensome to manage, and you can ave access to your coins from anywhere in the world.

On the other hand, if you prioritize being your own bank, privacy, self control over your assets in case some one may place a claim on you, etc, then you are correct that you may want to maintain some private off-line wallets.

My earlier response was aimed more at how do you get started and into bitcoin quickly rather than various issues involving being your own bank.

At some later point, I may migrate some of my coins to some non-web-based solutions... however, in the past two years, I have had my coins distributed amongst a variety of entities, that are probably fairly trustworthy, but surely not 100%... as you indicated regarding the counter party risk.

Currently, my distribution of my bitcoin holdings is approximately as follows:

Coinbase: 57%
Circle: 21%
Uphold: 13%
Gemini: 4%
Btce: 3 %
local bitcoins: 2%

(11-03-2015 03:34 PM)Disco_Volante Wrote:  I wouldn't bother with coinbase or circle.

just go to localbitcoins.com and buy from another user with paypal or moneygram. so much faster and easier....coinbase has all sorts of bullshit limits and rules

Yes, to each his own, depending on your priorities...

you can also get coins from Bitcoin meetups - but I have not attended any bitcoin meetups, so far in my bitcoin career.

Actually a couple of weeks ago, a friend/acquaintance of mine was trying to get me to meet up with one of his friends in order to sell him some bitcoins.

In the end, I was attempting to arrange a phone conversation with the guy before going to the next step, but he flaked on the phone call, so in the end, I was kind of glad because I was a little bit unclear about the guy, and if we ended up doing a trade without the escrow and verification matter of localbitcoins. Probably with any in person transaction, a guy needs to be careful not to meet someone who may attempt to rob him - therefore there is some convenience to deal with impersonal mechanisms to trade coins.

(11-03-2015 06:16 PM)JayJuanGee Wrote:  Currently, my distribution of my bitcoin holdings is approximately as follows:

Coinbase: 57%
Circle: 21%
Uphold: 13%
Gemini: 4%
Btce: 3 %
local bitcoins: 2%

Woops, for some reason I forgot about my Blockchain coins. I have an amount of BTC somewhere between the quantity of my Gemini and BTC-E stored on Blockchain.info.

That will change the percentages of my distribution a little bit, but you get the idea that with increased use of BTC, there will likely develop changes to how and where a guy chooses to store and/or with which third-parties a guy may trust or not trust (and sometimes there may be decisions to store coins on private wallets, which I have not yet done).

$416.41 US. Im not sure what to think right now.. Perhaps we will see some stability at a higher price this time. These next few days are gonna be interesting for sure.

(11-03-2015 08:38 PM)rdvirus Wrote:  $416.41 US. Im not sure what to think right now.. Perhaps we will see some stability at a higher price this time. These next few days are gonna be interesting for sure.

Yep,.... the auction and everything, too.

If you are hoping for stability, that may be several months into the future.

This is NOT exactly a problem that is part of the bitcoin architecture; however, it is a problem that has been exacerbated by human manipulation and intervention.

Bears have been manipulating prices down for so long that in some sense they have created this level of boom cycle....

In other words, it seems that the cycle is going to have to play itself out to some degree prior to being able to reach a higher price stability, which it seems that such higher stability price point is going to need to be in the thousands of dollars, rather than in the hundreds of dollars. It just makes more sense to have a higher overall market cap.

Actually, the way the price momentum is going, it is very possible that my BTC portfolio will be back in the black this week, if not by tomorrow morning....

hahahahahahaha

I wasn't expecting it so quickly to go from staggering in the lower $200s to touching upon mid $400s, and surely $666 is well within sight of weeks, and possibly even less.

Now all the " traders" who think they made a bad investment will cash out.

That's why Bitcoin needs a bigger force of buying in.

I told you guys about hodling alts before I hope you took my advice.

(11-03-2015 09:29 PM)el mechanico Wrote:  Now all the " traders" who think they made a bad investment will cash out.

That's why Bitcoin needs a bigger force of buying in.

I told you guys about hodling alts before I hope you took my advice.

likely there are a variety of folks - and surely a whole lot of those "weak hands" will have already cashed out, and you are correct that some more may feel additional needs to get out of bitcoin... but it can be very different to know about bitcoin and to witness considerable upward momentum.... and that is when FOMO kicks in (Fear of missing out).

Bitcoin as come a long ways since late 2013's last bubble, and there are a whole hell-of-a lot of easy ways to get into bitcoin and to get out of bitcoin, which will cause easy entrance for a large number of people and even additional desires to speculate or invest from individuals (in spite of some of the probable pumpers).

Regarding alt coins, surely they are going to be going up to and getting some additional attention because of the success of bitcoin... I certainly remain sparing wit my contributions towards alts, even though there remains potential to make more with the alts, if you can catch the right wave.

Overall, though you are safer keeping a very large proportion of your crypto investment in Bitcoin - especially now and during times that it is potentially going up... which is likely in the next several weeks.

There may be ways to pull in and out of various alts, though during times when BTC prices are going down, in order to make considerable returns. I do NOT have enough brain power for that, but I am striving to buy BTC while prices are going down and selling while prices are going up (especially during times in which trend reversals can be identified).

(11-03-2015 02:24 PM)JayJuanGee Wrote:  

(11-03-2015 12:50 PM)The Beast1 Wrote:  The volatility is killing me. I bought some bitcoin back in September for 230 and now it's up to 315!

I wonder how long the Chinese rally will last.

For those who enjoy trading, I threw 1000$ on the GBTC fund (Winklevoss twin's bitcoin fund).

Are you referring to the Gemini exchange, or something else, because I thought that the fund (referred to as ETF) was a different thing, and had not yet been approved by the Government?

For shits and giggles, a few weeks ago, I opened an account on the Gemini Exchange, and I put some bitcoins and fiat on there and linked it to my bank account.

In recent weeks, I also transferred some bitcoin and some fiat over to the Coinbase exchange, which I am not sure at this time about how many differences there are between Coinbase and Gemini, if any.

Possibly there could be some daily/weekly funding limit differences and attempts of Gemini to appeal more to wallstreet and institutional type investors?

Additionally, actually, I am not really sure why I had not played around a little earlier with the Coinbase exchange because it seems to work pretty well and the fees are really not too bad.

When the price had been so low for so long (floating in the lower $200s, it was difficult to generate enthusiasm - even while continuing to accumulate coins).

It's separate. It's "like" an ETF though i'd compare holding Bitcoin in this manner to holding paper gold.

It's been trading on the OTCQX under the ticker GBTC. Check out the prospectus.

Protip: Don't be afraid to take profits off of the table. Especially if you're up 100 or 200%

The recent coverage by mainstream media will only help increasing the price. Buying now is a risk (that is, if you CAN buy right now), but given the past it will not bungee jump before media coverage has dried out. I suspect it will hit 700 - at least - before the end of the week.

https://www.google.com/trends/explore#q=bitcoin

So you are in the green now JJG?

I got in at 488. have a bad feeling it will go backdown to 430 or so.

btw I exclusively buy localbitcoins with moneygram now. it sounds like a hassle but it's actually really fast and the highly repped traders complete the trade very rapidly. definitely more freedom than a bank.

maybe the chinks will drive up my account value.

My God, I was researching this yesterday and about to buy some but wanted to wait a bit to see how it was trending. It was under $400, like $388-$390, now I come back today and it's up $100. Crazy ass market, you go to sleep for 8 hours you can lose your ass with this shit.

If the things coming out of China are correct, we might see this continue to rise. There's 11 trillion Yuan in savings accounts in China. Imagine if just 2-3% of that goes into bitcoin.

(11-04-2015 12:57 PM)The Beast1 Wrote:  If the things coming out of China are correct, we might see this continue to rise. There's 11 trillion Yuan in savings accounts in China. Imagine if just 2-3% of that goes into bitcoin.

Can you expand on that, is there a big Chinese push for Bitcoins right now?