BTC Warning

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lauraalles said:
buy the dip
Click to expand...
How do you define "the dip"? There is never a "dip". There are market fluctuations, and a lot "dips and peaks", depending on the timeframe. Plus, you can't just buy something to make a profit, you need to sell it as well, at a higher price. And that's when greed comes in play, and when you realize it stopped going higher, despite all the "positive news and talks and predictions", then greed turns to denial, and you think it's just a temporary setback, then by the time you realize, you've lost most or all of the profit made from the moment you "bought the dip" and say "I have nothing to lose now, so I'll wait when it's back up". Then it goes into losses and fear comes into play when you start looking for reasons to exit (with a loss) or stay longer and end up with a bigger loss later until you find another "dip" to buy and invest more money just to repeat the cycle. If you weren't experiencing that, you wouldn't be sitting here writing "buy the dip", would you? We're all here, because we want to share our ideas (and frustration). If you had a million dollars worth of BTC, made of of $5k, I don't think you'd waste your time here telling random people like us to buy the dip. Just saying.
 
mysticparadise said:
How do you define "the dip"? There is never a "dip". There are market fluctuations, and a lot "dips and peaks", depending on the timeframe. Plus, you can't just buy something to make a profit, you need to sell it as well, at a higher price. And that's when greed comes in play, and when you realize it stopped going higher, despite all the "positive news and talks and predictions", then greed turns to denial, and you think it's just a temporary setback, then by the time you realize, you've lost most or all of the profit made from the moment you "bought the dip" and say "I have nothing to lose now, so I'll wait when it's back up". Then it goes into losses and fear comes into play when you start looking for reasons to exit (with a loss) or stay longer and end up with a bigger loss later until you find another "dip" to buy and invest more money just to repeat the cycle. If you weren't experiencing that, you wouldn't be sitting here writing "buy the dip", would you? We're all here, because we want to share our ideas (and frustration). If you had a million dollars worth of BTC, made of of $5k, I don't think you'd waste your time here telling random people like us to buy the dip. Just saying.
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Cool and great answer!

Just my two cents as I have been mining for over 4 months now and TBH I am not a guru or any of that sort, but I picked up BTC when it was around 2900$ last June just on a whim. Holds true to what you said of understanding where to buy the dip, coz honestly there is none. As of what I did; I just bought coz I saw BTC when it was 200$ lol and when I checked later it had grown to 1k$. Due to financial issues between losing a job and struggling and asking for help on BHW and learning from here and then growing slowly; I realized I could as well invest in something like crypto and see if it turns out good! I invested early on, not early enough but still made profits from it and then got a mining machine and started mining by investing around 3000$ on hardware. Crypto was easy money due to early adoption; and considering the hype it got post the first btc hard fork in August it shot up; and one of the bigger reasons was the hype that it created. The few things I did understand was to base info on the TA of previous prices which obviously did not make sense early on as BTC reaching that high was the first. But the actual hype in Media both positive and negative drove bitcoin to that highs. I still mine coins and don\t mind shelling the electricity costs from my pocket; as I believe in HODL lol!! I dont sell any coins; just wait for the right time, the right time for me is basically if I can cover my electricity costs and make a profit while holding. Post calculation all I can is its better to mine in a country where electricity costs are cheap.

One thing I can add is I am planning to get Solar for electricity from the mining profits lol. Lets see how that goes. Being optimistic :D at the same time ready to lose to if it comes to that, as I have made profits out of investments and with money I could spare
 
Some of the articles I found interesting today, some of you may or may not find them interesting too:
South Korea Arrests 14 On Suspicion Of Discount Bitcoin Mining
https://cointelegraph.com/news/south-korea-arrests-14-on-suspicion-of-discount-bitcoin-mining
Korean Police Bust Bitcoin Miners Illegally Using Cheap Factory Power
https://www.coindesk.com/korean-police-bust-bitcoin-miners-illegally-using-cheap-factory-power/
Taiwan Central Bank Proposes Money Laundering Rules for Bitcoin
https://www.coindesk.com/taiwan-central-bank-proposes-money-laundering-rules-for-bitcoin/
Bitcoin Gets Throttled After Traversing Much-Feared 'Death Cross'
https://www.thestreet.com/story/145...fter-traversing-much-feared-death-cross-.html
Should You Use Student Loan Cash to Buy Bitcoin?
https://www.forbes.com/sites/johnwa...tudent-loan-cash-to-buy-bitcoin/#1245a04e65e6
Bitcoin registers worst Q1 in its history with losses of over USD 114 bln
http://www.business-review.eu/news/...record-with-losses-of-over-usd-114-bln-163686
Obviously if you are a true BTC Expert there is nothing to worry about and you should buy the dip and HODL
I mean if you read stories like this: http://bitcoinist.com/hodl-gains-bitcoin-investors-wait-just-189-days-100-returns/ you can't lose, right?
 
No no stop saying bad things. You'll cause it to collapse. Nothing to see here folks - everything is peachy - invest your life savings - everyone will make millions and nobody will lose a cent.
 
Asif WILSON Khan said:
Current consensus is that BTC is still over valued
http://fortune.com/2018/04/02/bitcoin-overvalued-research-eth-zurich/
https://www.bloomberg.com/news/articles/2018-04-02/bitcoin-network-researchers-see-substantial-overvaluation
https://www.cnbc.com/2018/04/02/bitcoins-market-value-should-fall-by-more-than-a-third-before-year-end-swiss-researchers-say.html
https://www.thestreet.com/story/14541510/1/whats-behind-bitcoin-price-slump.html
And for the giggles
https://cointelegraph.com/news/bitcoin-foundations-jon-matonis-bitcoin-is-pin-to-pop-world-finance-bubble
Click to expand...
Generally consensus? General logic would make you see a fake coin worht 7k is overvalued lol.

Where all the pro investors/crypto gods/multiple millionaires from November that were jumping on btc when it got to 19/20k? Sweet silence lmfao.
 
yuuzokun said:
Ok, so now that @Asif WILSON Khan made this thread all the "experts" are gone? Come on guys you can't just show up when BTC is doing great.
Click to expand...

Hehe yes, I remember when the first page of BHW was full of BTC threads. If they would trust in Kryptos the threads would be still active no matter how the current courses are. Because ...just because the price of something is low, it doesn't lose its value. So you can clap your hands and buy it at a discount price. But nobody's clapping their hands ...even not the "experts" who screamed at the loudest. Because Kryptos have no value and never had.
 
The issue remains TIMEFRAME, or realizing that Bitcoin as an investment is a long game venture (measured in years, not the last few weeks or months). In the interim it serves as a resilient alternative medium of exchange independent of the chokehold gang (banks and governments).

The current flucuations are serving to shake out the short-term speculators whose impatience has distorted the crypto market. If you hate short term instability, don't use BTC, but if you stay with it for a decade, you'll win out. Crypto pro Dave Chapman agrees:

https://btcmanager.com/bitcoin-has-a-future-says-banker-who-predicted-100000-btc/
 
I hate it when a seller only accepts bitcoins or another form of payment that is very hard to set up.

Purchased my first 0.2 bitcoin a few weeks ago just to pay this seller. Ended up getting refunded for shitty work and now im kinda in the bitcoin world?
 
4-5mins in
Monero developers, and more talking about the market. The history points to we will keep going sideways, down because it's only repeated itself over and over again before and there hasn't been a less than 1 year bear market after a bull run in existence.
 
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