Silk Road forums
Discussion => Philosophy, Economics and Justice => Topic started by: nanpa2001 on April 11, 2013, 03:04 pm
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Damn... I just lost $8000.
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wowzers. Sorry to hear that man.
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that sucks bro; really sorry for your loss. u must be super bummed, and I wish I could console you, but I do not have $8000 for ya :-\
but anyway, this is not a "crash." rather this is a "correction." Honestly, weren't most of us saying that the price seemed super inflated when it went over $100 per coin? I know I was saying/thinking that.
Someone posted this pic on btc-e last night when there were lots of people screaming "buy buy buy" at $190 per coin: http://i.imgur.com/FW34gwu.jpg
While this is a humorous image, it really struck a chord with me as the part of the graph to the left of "denial" looked EXACTLY like the bitcoin rate chart up to that point.
So I thought about it for an hour or so, came home from dinner and the price on mt gox was gyrating wildly between 160 and 180. I managed to sell off at 173 and am a very happy boy since i bought those coins at $78. It was a tough decision but when my wife asked me "what's your gut telling you to do?" my immediate response was "its telling me to get the hell out of this."
i'm a small player though, much smaller than you. I just don't have the stomach yet for high stakes investing. but it looks like a correction to me. I can't imagine it will go lower than $20 per coin...after all, people still need their drugs and gambling. this is just gonna weed out the suited up investment brokers who were trying to get rich off our drug money. good riddance i say. within a day or two we can start comfortably using BTC as a currency again, as was intended
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:(
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Damn... I just lost $8000.
DONT WORRY
u will make half that back by next week.. just have hope.. lol thats all u can have at this point.. or buy drugs and sell em.. be all u can be
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I wonder if that guy that made the thread in the silk road discussion about selling his car for bitcoins ever decided to do it.
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I have $1200 in cash. When MTGOX reopens in 10 hours, and if bitcoin is still crashing, then I am going to buy.
'In for a penny, in for a pound', as they say.
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I have $1200 in cash. When MTGOX reopens in 10 hours, and if bitcoin is still crashing, then I am going to buy.
'In for a penny, in for a pound', as they say.
i like the way u think.. but who knows how much coins will be then its so random.. it was 60 30min ago.. now its back up around 92
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Sorry to hear. Ive been sayin here within 2 days ago on different topics that a HUGE crash were about to happen, i hasnt any coins, but would been easy to make money.
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They got as low as $60 USD? The weighted average on Mt.Gox is $160 USD right now and has been around that price since I got up early this morning.....It will climb again, this has happened SO many times where a huge crash happens and then literally less then a week later there up higher then they were before....
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They got as low as $60 USD? The weighted average on Mt.Gox is $160 USD right now and has been around that price since I got up early this morning.....It will climb again, this has happened SO many times where a huge crash happens and then literally less then a week later there up higher then they were before....
Mt.Gox closed trading until 02:00am UTC so the rate they have listed is not accurate. check the other exchanges...they've all been waffling between 60-80 today
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wow
http://preev.com/ $61 dollars :o
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check on preev.com, btc-e, or bitstamp, lol. time to buy really
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Damn... I just lost $8000.
DONT WORRY
u will make half that back by next week.. just have hope.. lol thats all u can have at this point.. or buy drugs and sell em.. be all u can be
Be all you can be! I like it. Check that. I love it.
Seriously, though... your "losses" are temporal. If you watch and learn from the market, study BTC dynamics and securities, then you will better understand your "losses" are only real if you need to use those resources NOW. It's like a treasury bond... short-term instabilities should NOT cause panic. That's why Wall Street has emergency halts in place to prevent panic.
One perspective to consider is this: BTC is weeding out reckless and frivolous buyers/sellers.
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shit
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Damn... I just lost $8000.
DONT WORRY
u will make half that back by next week.. just have hope.. lol thats all u can have at this point.. or buy drugs and sell em.. be all u can be
Be all you can be! I like it. Check that. I love it.
Seriously, though... your "losses" are temporal. If you watch and learn from the market, study BTC dynamics and securities, then you will better understand your "losses" are only real if you need to use those resources NOW. It's like a treasury bond... short-term instabilities should NOT cause panic. That's why Wall Street has emergency halts in place to prevent panic.
One perspective to consider is this: BTC is weeding out reckless and frivolous buyers/sellers.
Agree, the drug trade alone should keep the coin well in demand they say in 90 days many new markets around the world will open. In addition Cyprus and EU banking instability nor debt is going away. Collectors will now buy coins cheap and will hoard them.
I am in belief with all this new press which seems daily, even the not so gifted tech people have now heard of bitcoin. Plus once thoe not so tech people figure out they can buy premium weed delivered anonymously or pilsl whatever the price will go even higher.
If it werent for drug deals, money laundering, weapons trading, black ops funds, speculators, new bitcoin services popping up. I see growth and with that will come rise. When we started on SR it was 4 usd a coin makes me sad that i didnt respect them as I do now.
plus would add that MT Gox fucked it all up they couldnt handle the mass investments, now they claim they can now. Like I said 90 days according to russian today bitcoin is going to be everywhere. thats enough for me to hold.
If you are not even in a few weeks I would be surprised, keep in mind drug trade, casinos, etc need coins there is growing demand.
I am not an expert, but my gut says once confidence comes back its going to rally to new highs. Dont let the bears scare you.
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Bump.
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Put 2.5k in to make an order for a day, about a week ago, order turned into an issue so now im stuck in transit for another day or so. Whatever 18.5*btc price is what im left with.
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Someone posted this pic on btc-e last night when there were lots of people screaming "buy buy buy" at $190 per coin: http://i.imgur.com/FW34gwu.jpg
I mentioned this in another thread, just a day before the crash there was a wall of buy orders on Mt Gox - 4000 people - with purchase orders for 200. Those that were asleep at the switch when the value went into free fall would have found takers, too...
Seriously, though... your "losses" are temporal. If you watch and learn from the market, study BTC dynamics and securities, then you will better understand your "losses" are only real if you need to use those resources NOW.
Yes. Just like I didn't "make" anything on the rise (because I didn't sell), I didn't "lose" anything on the fall. The ledger will show the difference when I do sell. Though breathtaking to consider the should have/would haves, as these things go.
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Yeah, these fluctuations are temporary. Like someone a couple of posts back said, people gotta have their weed, pills, guns, hookers (do they take BTC yet? I hope so!) I am guessing that if you buy when the price is relatively low (US $50 or so each), hang on to them for a while until the price goes back up, then buy your weed, pills, etc. I got a good bargan on a couple of purchases, and still have a few BTC (not $8000 worth, though) in my wallet & on account.
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all of u go die
hope u loose all ur money. its what u get from not learning the first time.. but the coins to buy drugs.. thats it.. BITCH U AINT ON WALL STREET
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all of u go die
hope u loose all ur money. its what u get from not learning the first time.. but the coins to buy drugs.. thats it.. BITCH U AINT ON WALL STREET
This might be their first learning experience.... Much love, Thorax.
Anyway, the bottom line is to pay attention to the cost of BTC mining... Miners who hold the coin have as much power as the fat cat bankers and mafioso--because these last two groups--along with anyone in an anonymous marketplace--are indistinguishable.