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Oh, so the imaginary value
EV works in poker, but it's just nonsense when applied to bitcoin.Not sure if I'm reading you right. Are you suggesting EV doesn't exist in the Bitcoin market?
If so, why would people even bother trading something if they don't "expect" value to change.
A friend of mine had a hard time understanding Bitcoin. He owns quite many, but is plagued with inane -EV concepts of daytrading, such as panic selling, and "buying back lower".
I just told him: "Bitcoin. It's like land. If someone offers you less for your land than what it's worth, you just give a hardly-noticeable smile and wave him away." Land is not to be sold. Unless you need the money.
You don't constantly trade in-out your land. Same: Just don't sell your bitcoins.
I just told him: "Bitcoin. It's like land. If someone offers you less for your land than what it's worth, you just give a hardly-noticeable smile and wave him away." Land is not to be sold. Unless you need the money.
You don't constantly trade in-out your land. Same: Just don't sell your bitcoins.
Economic 101: "your item is only worth what the best bidder is willing to pay"
forum reading 101: He's talking about EV decisions (expected value)
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
My opinion is that bitcoin's huge flaw in regards to regular consumer usage is that two of its major benefits both work in favor of the merchant.
Can't reverse transactions: benefits the merchant, makes it harder for them to get ripped off, but easier for the consumer to be ripped off, or to force them to accept what could be an inferior product with no guarantee of a refund.
Much cheaper on fees: benefits the merchant. Consumers don't pay fees on credit cards or cash, anyway, except interest fees for CC's when you don't cover what you bought, but that's fair because you're borrowing money from the issuing bank. In fact, the consumer will see a fee where they wouldn't with other methods, as they have to pay the fee when they send the bitcoins.
I don't really see the issue on your first "flaw":
-When I need to RMA something I don't contact my creditcard company but the merchant.
-Merchant regulation ( example:The law in Belgium states things bought online can be returned for free up to 14 days after delivery no questions asked)
- Merchants offering the best return policies and the best trust ratings would be another tool to compete with the competition.
It's nothing a free market can't resolve on itself.
And cc fees are calculated into your purchasing price....
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I agree that it is a viable (and much much better) alternative. However I don't care about the industry, I care about the actual creative people behind the film.
hence the donation adress provided whenever someone posts the torrent or stream.
So the creative people get rewarded instead of apple and other middlemen
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
My god please stop with the Jack Nickleson gif.
Also, why does everyone keep posting the btc address for the film?
Also, why does everyone keep posting the btc address for the film?
to show(prove) that torrents and donations is a viable alternative to the traditional way the movie industry makes money.
(I red somewhere that this is also endorsed by the filmmakers but they they can't say so publicly because of contract with production house)
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
more fun?
I own this market!
I own this market!
I can understand using leverage if you have the ability to do so, but doesn't there come a point where you want to encourage the Bitcoin community and keep a positive sentiment for the sake of long term success? "With great power comes great responsibility" so the saying goes. There are many people that are new to Bitcoin that will be scared away from investing their time and resources in it just from "games" being played. We don't want to lose these people. They are valuable to growth and sustaining the market.
is not important whilst having a megalomanic coke rush!
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Some trolls here still try to deny that he is using the oldest trick ever aka buy everything up below your sell wall...
A lot of people/trolls here probably don't even know such a trick exists.
Re: So when should you buy in. My thoughts from a long term bear.
Yeah, it is easy to say now, you didn't buy bitcoin at $2.00. Well, at that time you probably wouldn't either.
This is so very true. Anyone jumping on here with 3 posts shouting about how Edward50 is an idiot, are absolutely delusional. He managed risk far better than the majority of people in this or any other market ever will.
It's not about winning big, its about not going home. Capital preservation. The delirious trader types don't seem to have the first idea about this.
Hope you catch a break this time Edward50.
that's my point people are afraid to only win small so they rather win nothing at all.
I'm not saying he's an idiot... and I can certainly imagine not buying at 2 dollar seemed like a wise thing to do as the survival of bitcoin was even more questionable at the time.
But especially because fundamentals and the survivability of bitcoin has increased I think conjuring buy in advice based on the 2011 situation is wrong.
A year stability before buying in? That will be when bitcoin is mainstream so it won't be as an investor but as a user.
quote: Try and control urges to buy in at the bottom or trying to time your buys
First time ever I hear buying at THE bottom is a bad thing.
I didn't want to come over so harsh but lurking on these forums might have deformed my communication skills.
Re: So when should you buy in. My thoughts from a long term bear.
Originally, when bitcoin declined from $30's to $2's, I really wasn't ready to start pouring money into it as the dropping seemed to be never ending.
Yeah, it is easy to say now, you didn't buy bitcoin at $2.00. Well, at that time you probably wouldn't either.
I decided at that time I would wait for a stable long term price to put my money in. My idea was that if the price would hold stable for at least a year and showed no signs of dropping, that was the best time to invest. This way you limit your losses.
Well, I purposely stopped watching bitcoin for a couple of years, because it was a waste of time to me to speculate. I then lost interest in it and didn't think much about bitcoin.
However, when the price rose to $1000, I was looking at the bitcoin price chart. It was clear that the best time to have bought bitcoin would have been around $10-13. This was a stable long term price where you could buy in and minimize your losses with possible sustainable growth.
So the question is, when should you buy in now?
If you want to minimize losses the best time to buy in is after the price is stable long term, like a year. This may be in the $20-$100 range in my opinion. But what ever it is, you're better off waiting for the price to stabilize long term.
Try and control urges to buy in at the bottom or trying to time your buys.
Yeah, it is easy to say now, you didn't buy bitcoin at $2.00. Well, at that time you probably wouldn't either.
I decided at that time I would wait for a stable long term price to put my money in. My idea was that if the price would hold stable for at least a year and showed no signs of dropping, that was the best time to invest. This way you limit your losses.
Well, I purposely stopped watching bitcoin for a couple of years, because it was a waste of time to me to speculate. I then lost interest in it and didn't think much about bitcoin.
However, when the price rose to $1000, I was looking at the bitcoin price chart. It was clear that the best time to have bought bitcoin would have been around $10-13. This was a stable long term price where you could buy in and minimize your losses with possible sustainable growth.
So the question is, when should you buy in now?
If you want to minimize losses the best time to buy in is after the price is stable long term, like a year. This may be in the $20-$100 range in my opinion. But what ever it is, you're better off waiting for the price to stabilize long term.
Try and control urges to buy in at the bottom or trying to time your buys.
yeah because the 30$ bagholders are so much worse off as you...
it's funny people rather have 100% of nothing instead of missing out on 50% of something
see you and your sound investment advice at the 3000$ post-nextath "crash" price
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I noticed that thing like today always happen on sundays. Most likely on early evenings (europe time).
Its strange cause thats the only time in the week no one is at work and all businesses are closed.
Asians are still sleeping and the others enjoy sundays.
So hard to believe for me that a whale (like a bank or similar) causing all this changes in price.
Its strange cause thats the only time in the week no one is at work and all businesses are closed.
Asians are still sleeping and the others enjoy sundays.
So hard to believe for me that a whale (like a bank or similar) causing all this changes in price.
http://www.the-numbers.com/video/Wall-Street-2/Wall-Street-2-poster.jpg
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
just saying...
the book of wolong: http://pastebin.com/cqM71kes
Position Building
There are multiple ways to build a position. This is the stage where we will
require a significant amount of market share to do pumps. The most
common method will be micro buys. Through placing of buy order in
relatively small amounts, it avoids driving up prices and also masked our
existence. Some alternate coins, however, has really low amount of volume,
and it will take ages to build up our position through mThe Book of WolongThe Book of Wolongicro buys. In such
cases, we will be force to do a pump up, to encourage sellers. Pump waves
will be gradually decreasing, smaller and smaller, forcing out all sellers so that
we can have what we want - market share. This has happened many times
infact to date, such as Doge/BTC, UNO/BTC, Dev/BTC and GLC/BTC.
Suppressing prices
Contradicting isn't it? That we are willing to pump altcoins up a few times of
it's value worth before driving down it prices. And yes, like I have stated
earlier on, prices does not matter to us as long we can sell higher. However,
like every other business on the industry, everyone would want their costs to
be as low as possible. In this very stage, we will pile up whatever we have
bought, to suppress prices as much as possible through sell walls so that we
are able to do our buying cheap. Our sell walls are usually just enough to
appear as though as it's the invisble hands of the market, minor supply over
demand.
.........
........
Whales hate weak hands, they do not act as any form of
support for us during a pump, and we will are always determine to get rid of
them in the early stages, no matter how long it takes.
the book of wolong: http://pastebin.com/cqM71kes
Position Building
There are multiple ways to build a position. This is the stage where we will
require a significant amount of market share to do pumps. The most
common method will be micro buys. Through placing of buy order in
relatively small amounts, it avoids driving up prices and also masked our
existence. Some alternate coins, however, has really low amount of volume,
and it will take ages to build up our position through mThe Book of WolongThe Book of Wolongicro buys. In such
cases, we will be force to do a pump up, to encourage sellers. Pump waves
will be gradually decreasing, smaller and smaller, forcing out all sellers so that
we can have what we want - market share. This has happened many times
infact to date, such as Doge/BTC, UNO/BTC, Dev/BTC and GLC/BTC.
Suppressing prices
Contradicting isn't it? That we are willing to pump altcoins up a few times of
it's value worth before driving down it prices. And yes, like I have stated
earlier on, prices does not matter to us as long we can sell higher. However,
like every other business on the industry, everyone would want their costs to
be as low as possible. In this very stage, we will pile up whatever we have
bought, to suppress prices as much as possible through sell walls so that we
are able to do our buying cheap. Our sell walls are usually just enough to
appear as though as it's the invisble hands of the market, minor supply over
demand.
.........
........
Whales hate weak hands, they do not act as any form of
support for us during a pump, and we will are always determine to get rid of
them in the early stages, no matter how long it takes.