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You Asked When To Buy Bitcoin...Well Now's Your Chance

cryptojunky.com

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Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#71

Post by guard-of-terra »

vkou wrote: post #60
guard-of-terra wrote: post #49

Earlier quoted context omitted.

You are talking about day-to-day spendings. I don't understand why fixate on them. They are a very tiny blip in most people's finances. I manage to live most ordinary days of my life without spending any currency. What I care about is raking together money for realty, and otherwise preserving money for the day when I need them. This is where bitcoin is a viable addition.

My rent, my car bills, and my groceries aren't a tiny blip in my finances. So far, none of them have a fixed bitcoin price. I mean, I suppose I could do the hip thing and live in a homeless hackspace, but I don't think that would be considered normal. Also, it's bit cold for that outside the Valley.

I don't pay my rent and groceries with my savings. I pay them from my salary.

And savings I save.

Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#72

Post by pron »

anoncowherd wrote: post #66
pron wrote: post #57

Earlier quoted context omitted.

That's not how the economy works (international trade is different from local trade, you're not taking employment into account etc.), but for now let's just say that some think a regulated currency is better and some don't. This has little to do with buying Bitcoin now.

>> That's not how the economy works (international trade is different from local trade, you're not taking employment into account etc.), but for now let's just say that some think a regulated currency is better and some don't Feel free to tell me why what I described there does not correspond to reality in any meaningful way. If you can't, then maybe you should reconsider your position on "regulated" currencies. Also…

I don't know if the reference to mises.org is sarcastic, but pointing to that site to learn about economics is like referring to Glenn Beck's site to learn about President Obama. Obviously, most economists have some ideology, but I think you should try to learn from people are are at least not so fanatic.

Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#73

Post by anoncowherd »

pron wrote: post #72
anoncowherd wrote: post #66

Earlier quoted context omitted.

>> That's not how the economy works (international trade is different from local trade, you're not taking employment into account etc.), but for now let's just say that some think a regulated currency is better and some don't Feel free to tell me why what I described there does not correspond to reality in any meaningful way. If you can't, then maybe you should reconsider your position on "regulated" currencies. Also…

I don't know if the reference to mises.org is sarcastic, but pointing to that site to learn about economics is like referring to Glenn Beck's site to learn about President Obama. Obviously, most economists have some ideology, but I think you should try to learn from people are are at least not so fanatic.

>> pointing to that site to learn about economics is like referring to Glenn Beck's site to learn about President Obama

So where do you learn about Obama? -The mainstream media? How's that "change you can believe in" going? -Oh well, I guess stripping away your civil liberties counts as "change", right?

>> Obviously, most economists have some ideology, but I think you should try to learn from people are are at least not so fanatic.

Nah, I'm fine learning from people who are actually talking about how economics works here in the real world. You just keep on keeping on.

Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#74

Post by pron »

anoncowherd wrote: post #73
pron wrote: post #72

Earlier quoted context omitted.

I don't know if the reference to mises.org is sarcastic, but pointing to that site to learn about economics is like referring to Glenn Beck's site to learn about President Obama. Obviously, most economists have some ideology, but I think you should try to learn from people are are at least not so fanatic.

>> pointing to that site to learn about economics is like referring to Glenn Beck's site to learn about President Obama So where do you learn about Obama? -The mainstream media? How's that "change you can believe in" going? -Oh well, I guess stripping away your civil liberties counts as "change", right? >> Obviously, most economists have some ideology, but I think you should try to learn from people are are at least…

I see. Did they teach you about the very real Gilded Age? Because that's when the US was doing things their way; it didn't turn out so well for the very real American people back then.

Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#75

Post by anoncowherd »

pron wrote: post #74
anoncowherd wrote: post #73

Earlier quoted context omitted.

>> pointing to that site to learn about economics is like referring to Glenn Beck's site to learn about President Obama So where do you learn about Obama? -The mainstream media? How's that "change you can believe in" going? -Oh well, I guess stripping away your civil liberties counts as "change", right? >> Obviously, most economists have some ideology, but I think you should try to learn from people are are at least…

I see. Did they teach you about the very real Gilded Age? Because that's when the US was doing things their way; it didn't turn out so well for the very real American people back then.

I'm not sure what your point is supposed to be, but I suspect you don't actually have one.

You didn't even give the Mises Institute a chance to educate you. If you listen to their in-depth videos on the fundamental "mechanics" of economics, but find yourself disagreeing with what they say, you're pretty much just refusing to hear anything, or simply not very bright.

They're not "fanatic", they're just explaining how economics works, in very clear terms, and in a way that obviously corresponds to reality (because it's all based on the way humans actually behave).

Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#76

Post by CryptoJunky »

jusben1369 wrote: post #50
CryptoJunky wrote: post #21

Earlier quoted context omitted.

You make a good point. If China shuts off entirely then the potential size of Bitcoin's network could decrease significantly. That's not to say however that Bitcoin doesn't still have a significant and increasing network of users. There have been significant gains outside of China as well recently. A large contributor to the high was resultant from the US Senate Hearings which seemed to somewhat validate Bitcoin's le…

Agreed. I added "Short term" to reflect this is more of a (significant) set back than a downward march. I worry that some might deduce from the article that this is a short term buying opportunity and it'll return to it's previous highs soon. If China is in fact closed it could take a very long time to return to those levels.

I had originally intended the article to be more of a suggestion to newcomers, that it may be a good time to purchase a bit of Bitcoin if you're looking to get started. It wasn't intended as advice for day traders, but rather for people with long term outlooks trying to enter Bitcoin for the first time, which is what constitutes much of my audience.

Rereading I do see how it comes across as short term trading advice though. I suppose I'll have to be much clearer in future posts. Thanks!

Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#77

Post by dobbsbob »

glomph wrote: post #67
dobbsbob wrote: post #11

I needed 0.5 coins last week to test something so I loaned and sold them to test an auto exchange bot @$980. Just bought back 0.5 to repay the small IRC loan @$460. Sweet thanks China

How did you have the trust for someone to lend you $500 without knowing them?

IRC web of trust rating from #bitcoin-otc

Re: You Asked When To Buy Bitcoin...Well Now's Your Chance

#78

Post by collyw »

bushido wrote: post #64
collyw wrote: post #33

Earlier quoted context omitted.

From my limited understanding of finance, is that not what short selling is? (Followed by buying back at a reduced price).

Short selling is also buying low and selling high. You just do them in reverse order. Or quite literally you borrow the instrument, sell it to someone and then buy it lower (or higher if the position went against you) and give back the borrowed quantity.

That sounds like conventional "good" investing.
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