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>I'm not sure there's any moral to this There's not, you're like every other financial analyst claiming the market will go up or down tomorrow. Your whole anal

>I'm not sure there's any moral to this There's not, you're like every other financial analyst claiming the market will go up or down tomorrow. Your whole analysis is basically "buy low/sell high". That's not meant to be an insult, there's just nothing in your posts justifying being correct. Cryptocurrency is pure speculation. You can't know if an exchange is going to blow up or get defrauded or hacked. You can't know how regulators are going to treat it in the future unless you're in the room. Then there is understanding forks and the development process and the drama around that. Then you could always get hacked and lose your money. It's a financial instrument requiring enormous amounts of concentration and technical ability just to participate at the baseline. Which is fine if you already have enough money to afford the time to do that, and to afford a complete loss of investment. It's always fundamentally about what level of risk you are willing to tolerate. Two months from now, $10k could be seen as a completely reasonably buy-in price when it hits $30k. We just have no idea how high it's going to go because it's the first of its kind.

sillysaurus3 9y ago
There was a justification: Bitcoin had been crashing, and therefore it was time to buy.
- shubhamjain 9y ago
  There would be a lot of millionaires if it was possible to know at which level a stock has bottomed out. And Bitcoin isn't even a stock, which makes it absurd to speculate when the currency has become cheap enough to invest into.
- FLUX-YOU 9y ago
  Buying dips and crashes isn't new stuff, you're basically predicting how much people will/are panicking. There's no exact science around that, but many of the lessons there don't apply to Bitcoin because of all of the other factors surrounding its usage and problems which can also drive the price. And yes, maybe you buy at the top of a crash and your portfolio drops 50%, but then months later it recovers to 100% above the point where it crashed previously. All of the things that have happened to Bitcoin and bitcoin services (Silk Road) make me think that if cryptocurrency is going to stay around, it will cycle just as the stock market and businesses do, which means there will be plenty of opportunities down the line to make 1000% gains -- in bitcoin or other cryptocurrencies. Until you have regulators on your side (which means a government isn't going to raid an exchange), and much of the hacking and drama goes away, it's never going to be more than technically complex gambling.
- hndamien 9y ago
  Actually, his strategy here is buy high, sell higher. This is going to be a common theme for years to come.

sillysaurus3 9y ago

There was a justification: Bitcoin had been crashing, and therefore it was time to buy.

shubhamjain 9y ago
There would be a lot of millionaires if it was possible to know at which level a stock has bottomed out. And Bitcoin isn't even a stock, which makes it absurd to speculate when the currency has become cheap enough to invest into.
FLUX-YOU 9y ago
Buying dips and crashes isn't new stuff, you're basically predicting how much people will/are panicking. There's no exact science around that, but many of the lessons there don't apply to Bitcoin because of all of the other factors surrounding its usage and problems which can also drive the price. And yes, maybe you buy at the top of a crash and your portfolio drops 50%, but then months later it recovers to 100% above the point where it crashed previously. All of the things that have happened to Bitcoin and bitcoin services (Silk Road) make me think that if cryptocurrency is going to stay around, it will cycle just as the stock market and businesses do, which means there will be plenty of opportunities down the line to make 1000% gains -- in bitcoin or other cryptocurrencies. Until you have regulators on your side (which means a government isn't going to raid an exchange), and much of the hacking and drama goes away, it's never going to be more than technically complex gambling.
hndamien 9y ago
Actually, his strategy here is buy high, sell higher. This is going to be a common theme for years to come.