Is anyone day trading bitcoin? i.e., buying and selling multiple times a day based on small-ish fluctuations of the market?
Yes, and I've had decent-enough luck with it.
Poll: How many Bitcoin do you own?
81–90 of 166 posts
Re: Poll: How many Bitcoin do you own?
#82Earlier quoted context omitted.
It is at least useful as savings. Isn't it a "practical application"? It's being very useful for me to store value in long term.
I'd say it's horrible for savings. Savings is something you actually want to "save", meaning its likelihood of retaining value is as close to 100% as possible. With low risk comes low return, which is okay for savings. Bitcoin is an investment at best, a speculation at worst. It definitely isn't a guaranteed store of value. It's easy to confuse the fact that it's going up with the idea of storing value. Not very long…
I trust more Bitcoin than dollar, oranges or woods to save my money.
Re: Poll: How many Bitcoin do you own?
#83Earlier quoted context omitted.
If you didn't shred the hard drive and haven't defragged it or anything, there's a good chance that the private keys are able to be recovered. There are scripts that will scan a drive for fragments that look like bitcoin-qt wallet files and dump the keys.
Interesting. I'm not sure which disk its on and it might well be corrupt but I had various components that I was going to make into a secondary desktop or donation machine so I suppose I should check while I test, it might pay for itself!
Here's what I've used: http://www.makomk.com/~aidan/wallet-recover-0.3-linux.tar.gz
Put this on a bootable usb with ubuntu or something and run it against the drive in question. Let it run overnight, and in the morning, you may find yourself with a windfall.
Here's the thread with more info: https://bitcointalk.org/index.php?topic=25091.0
After it runs, it will create a wallet.dat file that you will load with bitcoin-qt. If it works and you have the private keys, I would recommend exporting them into a better format, like an electrum or armory wallet.
Re: Poll: How many Bitcoin do you own?
#8413 people with 100+ bitcoin? Unfortunately I think this is another example of HN polls becoming completely unreliable.
At one point I owned about 150 bitcoins, but I sold the majority off at the $30-something peak a few years back. I also paid for my bitcoin miner back when bitcoins were $11, and my cost was 58 bitcoins. The miner that I finally received, has made me 5 bitcoins. Sad times.
Yep I had about the same amount, when they were worth around 7-8$ a coin. Bummer, 40,000$ would be nice right about now.
Re: Poll: How many Bitcoin do you own?
#85I bought $1k worth at $36/coin. I sold it when it dropped to $6. I'll have to go long on the next cryptocurrency.
Why even bother selling when it dropped to 6? Were you really that hard up for a few dollars?
Re: Poll: How many Bitcoin do you own?
#86Earlier quoted context omitted.
If we had a list of all the bitcoin wallet values (even estimated) we could use this http://en.wikipedia.org/wiki/Jenks_natural_breaks_optimizati...
It should be relativly simple to generate such a list. Unfourtuantly, the best I could find (in 5 minutes of googleing) is [1], which shows the ballance of a single account as a function of time. [1] http://blockchain.info/charts/balance?address=1DkyBEKt5S2GDt...
Re: Poll: How many Bitcoin do you own?
#870 - My wife said, "No way, it's a bubble." :(
Just because it's rocking at this moment doesn't mean it isn't a bubble.
Yeah, but she said "no" when they were priced at $20-30.
I fully understand the risks involved. Heck, my Economics degree makes me 1% more qualified than most people here to talk about how bubbles work.
If I'd bought BTC, I'd have been more worried about technical problems. I don't claim to understand the system in depth, but I know that crypto-fails happen all the time.
If an exploit is ever discovered, I wonder what we'd do with all that surplus bitcoin mining hardware?
Re: Poll: How many Bitcoin do you own?
#88I own half of a Bitcoin. I purchased about two weeks ago. In the intervening time, the value of Bitcoin has gone up 40%. I can't complain, and I'll probably buy more in the near future. It is somewhat disappointing that they can't be used for anything, though. Without practical applications, Bitcoin is subject to massive volatility and doesn't have any sort of foundation to prevent against collapse of the market. Inc…
It is at least useful as savings. Isn't it a "practical application"? It's being very useful for me to store value in long term.
At this point it is way too volatile for use as as long-term wealth storage. The current state of Bitcoing only makes it suitable for high-risk, high-reward investing, which is not conducive to saving.
Re: Poll: How many Bitcoin do you own?
#891-2. I got a mobo and graphics card for free and mined lightcoin sometime last year. bought some usb asic's and sold all but one for break even, then bought 10 more at the final ASICminer wholesale price. I've mined those to breakeven.
now I have a coin, some anachronistic blinking doo-dads, and a slightly firmer grasp on my own ubuntu box and btc as a whole. had fun to boot. I did buy a usb hub for 50... but now it holds my blinking doodads!
Re: Poll: How many Bitcoin do you own?
#90I bought $1k worth at $36/coin. I sold it when it dropped to $6. I'll have to go long on the next cryptocurrency.
Why even bother selling when it dropped to 6? Were you really that hard up for a few dollars?
He was probably thinking to better sell it at 6 than 0. That's quite a few cups of coffee anyways.