(07-17-2016 10:08 PM)JayJuanGee Wrote:  I'm not sure if the below link should be related to bitcoin, or maybe to gold/silver...

Naw.. maybe I am a bit biased? for a variety of reasons bitcoin seems best, anyhow.

http://www.zerohedge.com/news/2016-07-17...wiii-stake

Even though the below linked article is from several days ago, it seems to further explain the earlier article that I posted linked above.

Maybe a bit of an exaggeration, but really describing war inclinations.. which also seems a bit like "crazy talk."

http://theeconomiccollapseblog.com/archi...-may-think

The below two lightning network links have a lot of good bitcoin discussion and content. I would be interested if anyone wants to discuss any of the bitcoin related points made therein.

https:[email protected]_lightning/ligh....6k920aqm5

http://bitfury.com/content/5-white-paper...7_2016.pdf

(07-14-2016 03:12 PM)JayJuanGee Wrote:  Also, Since we are on the topic of bitcoin...

The news is that MTGOX CEO Mark Karpeles is out of jail in Japan on $100k bond.

Interesting.. click on the video linked in the reddit thread, he looks very thin and very different with about a 50lb weight reduction.

https://www.reddit.com/r/btc/comments/4s...translate/

http://cointelegraph.com/news/mt-gox-ceo...han-before

Less than a week ago, we had the release of Karpeles on bond (see above links), and now, it appears that we have the release of Charlie Shrem for having had served his full two year term.



http://bitcoinist.net/charlie-shrem-released-prison/

Since we are floating in this largely $660 to $680 price range for several days (current price about $665), and really mostly $630 to $700 for about 1 month, I'm starting to come to the conclusion that btc prices almost have to experience another test of a lower point of resistance, whether that point is $650 or $630 or $610, I'm not sure, but I'm starting to think that at least a test of $650, at minimum, is almost inevitable and how far it goes down is going to depend on the trade volume and how much of a fight is made by the bulls.

To me it seems that bulls definitely have an upper hand in these mid $600s price points and these current market conditions (and really in that regard, prices would likely need to be pushed below $500 for a significant time in order to change the overall bull market that we are currently in), but that current seeming status of "upper hand" does not preclude the bears from attempting to push btc prices down and to attempt to revers the market direction, even though such reversal attempt will likely not succeed in changing the current ongoing upwards price momentum and current ongoing upwards price pressures on btc, unless they can get it into the lower $500s and even move it into sub-$500 for an extended period, which is not impossible, but would likely cost them a lot of capital.

I watched a 2015 documentary last night called "Bitcoin: The End of Money As We Know It".

It was short (~1 hour) and definitely biased in a positive way towards bitcoin, but still very informative, even to someone like myself who's pretty familiar with the technology.

It doesn't delve too much into the technical details, but explains things at a high, easily-understandable level. The beginning twenty minutes or so provide an abridged history of money itself, and I especially enjoyed the explanation of the modern day financial system and how fractional reserve banking works.

Definitely a great way to introduce friends or family to bitcoin, if they're unwilling to read a book like Digital Gold.

You can rent or buy the movie on Amazon, but it's easy enough to find a free version floating around online if you're so inclined.

Here's the trailer:

(07-20-2016 03:37 PM)Isaac Jordan Wrote:  I watched a 2015 documentary last night called "Bitcoin: The End of Money As We Know It".

It was short (~1 hour) and definitely biased in a positive way towards bitcoin, but still very informative, even to someone like myself who's pretty familiar with the technology.

It doesn't delve too much into the technical details, but explains things at a high, easily-understandable level. The beginning twenty minutes or so provide an abridged history of money itself, and I especially enjoyed the explanation of the modern day financial system and how fractional reserve banking works.

Definitely a great way to introduce friends or family to bitcoin, if they're unwilling to read a book like Digital Gold.

You can rent or buy the movie on Amazon, but it's easy enough to find a free version floating around online if you're so inclined.

Here's the trailer:

Thanks for pointing those out, they both seem to be really good bitcoin related resources.

Funny that no one had posted either of them previously.

(07-20-2016 03:46 PM)JayJuanGee Wrote:  

(07-20-2016 03:37 PM)Isaac Jordan Wrote:  I watched a 2015 documentary last night called "Bitcoin: The End of Money As We Know It".

It was short (~1 hour) and definitely biased in a positive way towards bitcoin, but still very informative, even to someone like myself who's pretty familiar with the technology.

It doesn't delve too much into the technical details, but explains things at a high, easily-understandable level. The beginning twenty minutes or so provide an abridged history of money itself, and I especially enjoyed the explanation of the modern day financial system and how fractional reserve banking works.

Definitely a great way to introduce friends or family to bitcoin, if they're unwilling to read a book like Digital Gold.

You can rent or buy the movie on Amazon, but it's easy enough to find a free version floating around online if you're so inclined.

Here's the trailer:

[https://www.youtube.com/watch?v=lUF6klWuB38[/video]

Thanks for pointing those out, they both seem to be really good bitcoin related resources.

Funny that no one had posted either of them previously.

I was able to find a link to the full version of the video that so far seems to work. I agree with you that it is good, but it seems to be a bit over a year old.... and as we know time flies in bitcoinlandia... but it's approach, like you said Isaac, seems to be also providing a broader history of money.. more than half of it.

Even I will concede that the article that is attached in the below linked reddit thread is quite a bit more optimistic than myself, but it still gives some decent discussion of bitcoin developments and potentiality in the Caribbean.

http://www.reddit.com/r/Bitcoin/comments...yday_life/

Here's another decent bullish bitcoin article with some overview analysis of today's price and discussing the current state of bitcoin..

In sum, it is saying that BTC prices could go up or down from here, but in the long term seem to be a good bet to go up further.

Seems pretty well written, even for a newbie to bitcoin to get some ideas from this.

https://99bitcoins.com/why-is-bitcoin-going-up/

When to sell LTC? Anyone?

Below is some skepticism regarding the ethereum hardfork from an attempt at bitcoin learning perspective.

Even with this recent ETH hardfork, ethereum prices have been going up, at least in the short term to be up 20% in less than a week.. will that upwards momentum last though, and if so, would such upwards price momentum matter to bitcoin?

I know in the various bitcoin forums, posters have kind of let off of their ETH spamming in the past month or so, and I suspect if ETH has some kind of price rebound, those spammers are going to return to argue that ETH is BTC 2.0 and other similar kinds of anti-bitcoin nonsense.


http://www.coindesk.com/bitcoin-core-eth...precedent/

(07-22-2016 02:50 PM)skr1107 Wrote:  When to sell LTC? Anyone?

Have you ever heard of bitcoin? Do you own any bitcoin? Does your holding in LTC in anyway relate to bitcoin, or are you just wondering about LTC in the abstract?

Below is an article that has a bullish prediction of a brokerage investor, who likely owns quite a bit of BTC, but in the end he is suggesting that if the Wiklevoss ETF is approved before the end of the year, which there could be a decent chance of this happening... then bitcoin prices could surge into the $2k to $10k price arena... T

Overall, these seem like reasonable observations.


http://forklog.net/exante-winklevoss-bro...oin-price/

Here's some backing up of a bullish pennant formation and the signaling of an upwards breakout that may be coming near into the future.

I am personally thinking that we may have a bit more downward correction prior to breaking upwards, like maybe at least to $630 and possibly a bit lower,maybe even $610, but I am certainly no expert.


https://news.bitcoin.com/bitcoin-breakou...-analysis/

Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees

(07-24-2016 12:37 AM)Independent1 Wrote:  Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees

You can use bitcoin for either a long term investment or short term flipping.

Through this thread, I have gone through several explanations of bitcoin strategies that I employ that involve both long term investing and trading (meaning selling as the price goes up and buying as the price goes down).

If you think that the price is too high at the moment, then what do you believe to be a more realistic price? If you believe that bitcoin is too high, then you sold all your coins? at what price? how many coins were you trading at a time?

Where are you transferring money with bitcoin? how much are you saving in fees? 1% or more? From where do you buy and sell your bitcoin? Are there any fees?

(07-24-2016 05:48 AM)JayJuanGee Wrote:  

(07-24-2016 12:37 AM)Independent1 Wrote:  Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees

You can use bitcoin for either a long term investment or short term flipping.

Through this thread, I have gone through several explanations of bitcoin strategies that I employ that involve both long term investing and trading (meaning selling as the price goes up and buying as the price goes down).

If you think that the price is too high at the moment, then what do you believe to be a more realistic price? If you believe that bitcoin is too high, then you sold all your coins? at what price? how many coins were you trading at a time?

Where are you transferring money with bitcoin? how much are you saving in fees? 1% or more? From where do you buy and sell your bitcoin? Are there any fees?

For the transferring, I'm using OkCoin to buy bitcoin in RMB (I'm based in China). I make sure the OKCoins Bitcoin value is at least 1% less than the Coinbase Bitcoin value before purchasing in RMB.

I then transfer Bitcoins from OkCoin to Coinbase. Then cash out to UK bank via Coinbase. Coinbase only charges 1% fees for exchanging Bitcoins to a currency so if you find a difference of 1% of greater then you are doing the exchange without any fees. It's a way to avoid bank fees.

I sold my coins at around 730-750 USD each last month. I'm not too sure on when to reinvest, maybe if they go below 550.

(07-24-2016 07:43 AM)Independent1 Wrote:  

(07-24-2016 05:48 AM)JayJuanGee Wrote:  

(07-24-2016 12:37 AM)Independent1 Wrote:  Just curious what strategy you guys have with BTC? Long term investment or short flipping?

In the past I used to buy when the price had dropped then wait weeks/months until it got higher then sold. Right now the price seems to high for another investment but I'm still using bitcoins to transfer money avoiding bank fees

You can use bitcoin for either a long term investment or short term flipping.

Through this thread, I have gone through several explanations of bitcoin strategies that I employ that involve both long term investing and trading (meaning selling as the price goes up and buying as the price goes down).

If you think that the price is too high at the moment, then what do you believe to be a more realistic price? If you believe that bitcoin is too high, then you sold all your coins? at what price? how many coins were you trading at a time?

Where are you transferring money with bitcoin? how much are you saving in fees? 1% or more? From where do you buy and sell your bitcoin? Are there any fees?

For the transferring, I'm using OkCoin to buy bitcoin in RMB (I'm based in China). I make sure the OKCoins Bitcoin value is at least 1% less than the Coinbase Bitcoin value before purchasing in RMB.

I then transfer Bitcoins from OkCoin to Coinbase. Then cash out to UK bank via Coinbase. Coinbase only charges 1% fees for exchanging Bitcoins to a currency so if you find a difference of 1% of greater then you are doing the exchange without any fees. It's a way to avoid bank fees.

I sold my coins at around 730-750 USD each last month. I'm not too sure on when to reinvest, maybe if they go below 550.

Well there are a lot of bitcoin exchanges and related services out there besides the two that you listed, and of course your access to exchanges/services and your perspectives about bitcoin may be limited based on where you are at and how you have used bitcoin in the past.

I agree that if you are moving money between exchanges, you do need to account for any fees that they have in order to ensure that your actual exchanging money is possible.

So far, we have not had anyone participating in this thread who had been either asserting to be based in China or attempting to use chinese bitcoin exchanges, so it would be nice to hear your perspective and also if you were to become more involved in a variety of other chinese exchanges in order that you would be able report on any interesting dynamics that you may see in those exchanges.

I suspect that if you are fairly new to using bitcoin and monitoring it's price, you may be getting caught up on short term price movements, and your outlook may be much more bearish about bitcoin than warranted. However, at the same time, each of us is entitled to our opinion.

If you read through my posts, of course, I am fairly bullish on bitcoin, and I have been investing in bitcoin since November 2013 and trading since October 2015. I also use arbitrage between various bitcoin services.

So far I have only traded dollars with bitcoins, and in the order that I have adopted them, I am currently using the following for buying and selling bitcoins: LocalBitcoins, Blockchain (for direct transactions), Coinbase, BTC-e, Circle, Uphold, Gemini, GDAX (which is Coinbase's exchange), Bitfinex and Bitstamp. Over my time in, I have been able to stack up bitcoins and dollars on both ends, so I feel fairly insured no matter which direction the price goes, yet of course with my current holdings I make more money if bitcoins go up.

If you are continuing to use bitcoin for various money transferring or exchanging, I think that you should hold some value in bitcoin, and that amount may reflect the extent of your bearish view about bitcoin and your concerns that there may be better entrance points at lower prices (like you said, possibly below $550). Personally, I do not doubt that there could be lower entry points below $550, but I don't think that it is a good way to invest to wait for such price points that are far from guaranteed, when it is also possible that BTC prices could shoot up to $2,000 (definitely no guarantee with that either). So, my suggestion is that if you are particularly bearish, you may consider investing only 20% of what would otherwise be your bitcoin investment fund, and hold the other 80% to invest at other lower price points. Of course, the quantity and the entrance points would vary based on your own circumstances and whether your perspective changed or became more informed in watching the price movement over the coming weeks or months.

I agree that bitcoin can be a fairly volatile asset, yet it remains a very interesting asset because there is a lot of potential in its newness, and its newness creates a bit of a price dynamic that is likely not going to correlate with any precision with any other asset class (even the most likely comparable, which would be gold).

Hopefully, you can respond to anything that I wrote here, and continue to let us know about how you are approaching the bitcoin matter from you current China-based perspective.

By the way, your RVF profile says USA. Are you in China for the longer term or just on some kind of temporary assignment? Do you travel to other countries frequently, if so do you see a role for bitcoin in that? What other currencies do you deal with? I am presuming that you are talking about dealing with the UK based Coinbase service because that is what you have available from your current location?

Woops, I went back to my above post, and I was going to edit a few ideas. I typed out my edit, and then shit, I had gone a few minutes passed the hour limit (so I was not allowed to edit).

So, let me just add a few more points to supplement my above post.

1) regarding exchanges and fees, I had meant to agree with you and say that either you want to ensure that you are doing exchanges that are profitable or at least to minimize or to eliminate fees, as you asserted, and some exchanges have very low fees or no fees. Sometimes by shopping around and having more exchange options, you may find that any particular moment one exchange is better than another, and coinbase might not be as competitive as others, it just depends upon the price movements at the time that you are attempting to do the transaction.

2) Regarding your having access to Chinese exchanges, you may recall that in late May 2016 when BTC prices initially broke out of the $400s, it was a quite interesting dynamic, at least for a while around that time that several of the Chinese exchanges were quite out of wack with the remainder of the exchanges. In this regard, most Chinese exchanges were frequently showing 10% or more higher prices, as compared with other exchanges. Some folks attributed those exchange price differences to the then dynamics within the Chinese economy and concerns about both devaluation of the Chinese currency and apparent increased capital controls in terms of moving money out of the country.

Other theories was that there may have also been some attempted BTC pumping going on in China to attempt to move BTC prices upwards while other exchanges were quite reluctant to follow the Chinese exchanges, but in any event there were arbitrage opportunities based on these various large price differentials for some folks who may have had money in both systems at that time, and especially for those who may have been able to cash out in the Chinese exchanges during that time.

All within about less than a week, there was some correcting going on during that time, and then prices of the various exchanges got more in line, and they have been more consistent in the past month or so, yet in bitcoin, there frequently can come about considerable differences in prices between exchanges for short periods of time, and it is not always easy to read the longer term meaning of such differences, yet if you have money in place in more than one location, you will be able to take advantage of such price differences and lock in immediate profits, which could even be 10% or higher, at times.

3) Regarding my assertion that you seem to be newer to using and monitoring bitcoin, I would be interested in you maybe clarifying that point a little bit, so I do not need to assume so much.. hahahahaha.
I was attempting to assert that folks that are newer to bitcoin sometimes get caught up in looking at short term BTC price movements without seeing a broader bitcoin context. Accordingly, when folks who are newer to bitcoin get into bitcoin, their default view tends to be to attempt to compare bitcoin to some other assets that they know or sometimes kind of assume that bitcoin is a more mature asset than it is, which causes the outlook of these folks to become much more bearish about bitcoin than warranted. I am not really trying to criticize that perspective, but sometimes it is an erroneous perspective because they are failing to recognize the upside potential of bitcoin and its paradigm shifting attributes (which is permissionless decentralized immutability of value that has not been achieved by any other system with such powerful computing backing it). Yes, no matter what, each of us is entitled to our opinion and to come to our conclusions, so I would not want to presume that I have any kind of deeper knowledge about bitcoin beside merely monitoring it for nearly 3 years.

4) Regarding my current bitcoin holdings, they are currently around 95% bitcoin and 5% fiat, and that is mostly the reason that I make more money if bitcoin prices go up. Yet, if I perceive some kind of technical issue with bitcoin or some clear sign that BTC prices are going to go down, I don’t mind changing my allocation to be much higher in fiat.

5) I want to just mention that over the past year or so, my girlfriend has kind of dabbled in bitcoin, and her perspective is quite a bit more bearish than mine, so she tends to be a lot more eager to sell, as compared with me. She does not completely hold off buying, because she already made that mistake before, so she seems to kind of have corrected some of the error of her ways by being inclined to sell more as price goes up and to lock in her profits in fiat.. Though when the price goes up, she does not have as many BTC, but she will tend to have fiat available when the price goes down, and she does not attempt to wait so long in order to buy and in and she just buys in stages in order to have some stake in the game when the price goes back up, which it has been doing for nearly a year now, and we cannot really assert in any kind of convincing way that bitcoin is either out of the bull market or that the bull trend has reversed.

6) I personally believe that BTC prices need to go back into the $400s and to be sustained in those lower prices in order for some kind of declaration that the bull trend has reversed. Having said that, even though I continue to believe that BTC is currently in a bull market, there is no guarantee that BTC prices will continue to go up from here, but it is much too early to assert that either the price trend has reversed or that the fuel behind the current bull market has been used up.

(07-24-2016 04:05 PM)JayJuanGee Wrote:  Woops, I went back to my above post, and I was going to edit a few ideas. I typed out my edit, and then shit, I had gone a few minutes passed the hour limit (so I was not allowed to edit).

So, let me just add a few more points to supplement my above post.

1) regarding exchanges and fees, I had meant to agree with you and say that either you want to ensure that you are doing exchanges that are profitable or at least to minimize or to eliminate fees, as you asserted, and some exchanges have very low fees or no fees. Sometimes by shopping around and having more exchange options, you may find that any particular moment one exchange is better than another, and coinbase might not be as competitive as others, it just depends upon the price movements at the time that you are attempting to do the transaction.

2) Regarding your having access to Chinese exchanges, you may recall that in late May 2016 when BTC prices initially broke out of the $400s, it was a quite interesting dynamic, at least for a while around that time that several of the Chinese exchanges were quite out of wack with the remainder of the exchanges. In this regard, most Chinese exchanges were frequently showing 10% or more higher prices, as compared with other exchanges. Some folks attributed those exchange price differences to the then dynamics within the Chinese economy and concerns about both devaluation of the Chinese currency and apparent increased capital controls in terms of moving money out of the country.

Other theories was that there may have also been some attempted BTC pumping going on in China to attempt to move BTC prices upwards while other exchanges were quite reluctant to follow the Chinese exchanges, but in any event there were arbitrage opportunities based on these various large price differentials for some folks who may have had money in both systems at that time, and especially for those who may have been able to cash out in the Chinese exchanges during that time.

All within about less than a week, there was some correcting going on during that time, and then prices of the various exchanges got more in line, and they have been more consistent in the past month or so, yet in bitcoin, there frequently can come about considerable differences in prices between exchanges for short periods of time, and it is not always easy to read the longer term meaning of such differences, yet if you have money in place in more than one location, you will be able to take advantage of such price differences and lock in immediate profits, which could even be 10% or higher, at times.

3) Regarding my assertion that you seem to be newer to using and monitoring bitcoin, I would be interested in you maybe clarifying that point a little bit, so I do not need to assume so much.. hahahahaha.
I was attempting to assert that folks that are newer to bitcoin sometimes get caught up in looking at short term BTC price movements without seeing a broader bitcoin context. Accordingly, when folks who are newer to bitcoin get into bitcoin, their default view tends to be to attempt to compare bitcoin to some other assets that they know or sometimes kind of assume that bitcoin is a more mature asset than it is, which causes the outlook of these folks to become much more bearish about bitcoin than warranted. I am not really trying to criticize that perspective, but sometimes it is an erroneous perspective because they are failing to recognize the upside potential of bitcoin and its paradigm shifting attributes (which is permissionless decentralized immutability of value that has not been achieved by any other system with such powerful computing backing it). Yes, no matter what, each of us is entitled to our opinion and to come to our conclusions, so I would not want to presume that I have any kind of deeper knowledge about bitcoin beside merely monitoring it for nearly 3 years.

4) Regarding my current bitcoin holdings, they are currently around 95% bitcoin and 5% fiat, and that is mostly the reason that I make more money if bitcoin prices go up. Yet, if I perceive some kind of technical issue with bitcoin or some clear sign that BTC prices are going to go down, I don’t mind changing my allocation to be much higher in fiat.

5) I want to just mention that over the past year or so, my girlfriend has kind of dabbled in bitcoin, and her perspective is quite a bit more bearish than mine, so she tends to be a lot more eager to sell, as compared with me. She does not completely hold off buying, because she already made that mistake before, so she seems to kind of have corrected some of the error of her ways by being inclined to sell more as price goes up and to lock in her profits in fiat.. Though when the price goes up, she does not have as many BTC, but she will tend to have fiat available when the price goes down, and she does not attempt to wait so long in order to buy and in and she just buys in stages in order to have some stake in the game when the price goes back up, which it has been doing for nearly a year now, and we cannot really assert in any kind of convincing way that bitcoin is either out of the bull market or that the bull trend has reversed.

6) I personally believe that BTC prices need to go back into the $400s and to be sustained in those lower prices in order for some kind of declaration that the bull trend has reversed. Having said that, even though I continue to believe that BTC is currently in a bull market, there is no guarantee that BTC prices will continue to go up from here, but it is much too early to assert that either the price trend has reversed or that the fuel behind the current bull market has been used up.

I can confirm I am not so experienced, the method I posted it pretty much all I've done. I managed to avoid fees so I'll probably just stuck to those two exchanges for that, although as you mentioned I'm sure there are others that work too when the timing is right.

I understand your view about the long term investment, it's just nobody know's how "long" the investment is when purchasing, even if you have a set price you're prepared to dump them at. I already regret not keeping a certain number of bitcoins in for the long run though, that's something I'll do the next time the price goes down and I enter the investment.

(07-24-2016 07:43 AM)Independent1 Wrote:  I sold my coins at around 730-750 USD each last month. I'm not too sure on when to reinvest, maybe if they go below 550.

Nice trading! Congratulations.

Interesting ruling in favor of bitcoin, when guy was charged as a money lauderer for merely selling $1,500 in bitcoins.

http://www.miamiherald.com/news/local/cr...82102.html

Quote:
But Miami-Dade Circuit Judge Teresa Mary Pooler ruled that Bitcoin was not backed by any government or bank, and was not “tangible wealth” and “cannot be hidden under a mattress like cash and gold bars.”

Quote:“The court is not an expert in economics, however, it is very clear, even to someone with limited knowledge in the area, the Bitcoin has a long way to go before it the equivalent of money,” Pooler wrote in an eight-page order.

(07-24-2016 08:43 PM)Independent1 Wrote:  

(07-24-2016 04:05 PM)JayJuanGee Wrote:  [edited out]

I can confirm I am not so experienced, the method I posted it pretty much all I've done. I managed to avoid fees so I'll probably just stuck to those two exchanges for that, although as you mentioned I'm sure there are others that work too when the timing is right.

It took me a long time to add bitcoin exchanges and services to my life, and I still consider that I have several more than I would like to add, so little by little, and I have a long way to go.


In other words, probably, you can add more as you may begin to recognize use cases for them regarding what you are willing and capable of doing.

(07-24-2016 08:43 PM)Independent1 Wrote:  I understand your view about the long term investment, it's just nobody know's how "long" the investment is when purchasing, even if you have a set price you're prepared to dump them at. I already regret not keeping a certain number of bitcoins in for the long run though, that's something I'll do the next time the price goes down and I enter the investment.

I think that I am suggesting something a little bit different from your current considerations.

Let's say for example you are really bearish about bitcoin, and you believe that it has a 80% chance of going below $550, then you would save something like 80% of the funds that you are willing to invest into bitcoin for that price point. You should have a bit of an idea about the various price points that you are considering and how much you are willing to allocate at those various price points.

The fact that you are mentioning that you wished that you would have hung on to some of your bitcoin suggests to me that you are not that bearish, and you may want to consider investing 10%, 20% or some other reasonable amount of your BTC funds at some higher price point, maybe even at the current price to invest a little bit just in case the price goes up and does not come down and at least you have a small amount in the game in order that you could sell again, if you want...

In the end, the price points and the amounts are totally in your discretion, and you should not invest any into BTC if you believe that the odds are zero or very close to zero that BTC prices are going up from here (which seems quite unrealistic or uninformed to me - but there are certainly some people who believe with confidence that BTC prices are going down before they go up, if they ever go up).

Actually, I wouldn't mind if some RVF guys had some arguments for the case why they believe BTC prices are going down from here, especially if they have some kind of evidence and/or logic to back up their speculations. I personally have been saying in recent days that I think that the odds are pretty good that we are going to experience a bit of a downward correction of 5% or more before we get an upward movement of prices of 5% or more, but I become more and more skeptical about any claims to larger corrections, even though larger corrections are certainly more probable, but I would think that it is less than 40% odds that we are going to experience prices below $550 - and even lower odds that such prices would be sustained more than some kind of flash crash, absent some significant event(s).

Negative interest rates in the UK could help to pave the way for more bitcoin adoption (or at least trying to figure out a place to store your money and to retain some value)

https://www.theguardian.com/business/201...rest-rates

(07-25-2016 12:29 PM)JayJuanGee Wrote:  Interesting ruling in favor of bitcoin, when guy was charged as a money lauderer for merely selling $1,500 in bitcoins.

http://www.miamiherald.com/news/local/cr...82102.html

Quote:
But Miami-Dade Circuit Judge Teresa Mary Pooler ruled that Bitcoin was not backed by any government or bank, and was not “tangible wealth” and “cannot be hidden under a mattress like cash and gold bars.”

Quote:“The court is not an expert in economics, however, it is very clear, even to someone with limited knowledge in the area, the Bitcoin has a long way to go before it the equivalent of money,” Pooler wrote in an eight-page order.

Below is another article that kind of supplements my earlier link.

Apparently part of the sentence of the guy was that he needs to teach police about bitcoin, and I would be interested in seeing what kind of session he develops that would be acceptable to the court.

http://www.reddit.com/r/Bitcoin/comments...ust_teach/