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Thread: The Litepresence Report on Cryptocurrency

  1. #1501

    Default

    Quote Originally Posted by Paladin69 View Post
    Do you think it is a false sense of support because the BTC price has dropped? Keeping the LTC/BTC ratio high?

    Thanks for the input. Still can't wrap my head around MA completely.
    A moving average (MA) is a line that is drawn across a set of points on a chart. Each point is the sum of x previous candles divided by x. If you set the MA to 5, each point that the line goes through will be the average of the last five candles.
    The reason it's called a moving average instead of just an average, is because for each new candle the value will change and the line that goes through all the points will move.


    This is basically a simplified version of the link that presence posted.



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  3. #1502

    Default

    Quote Originally Posted by xPario View Post
    Hey guys, I've been lurking here for a while and decided to finally create an account and post a little.
    Anyways, I bought BTC back in the November bubble, invested ~$10k usd and lost ~$7k. The loss is no problem because I've learned alot and I'm hoping to get atleast half of it back in this next bubble, whenever (or if) it comes. I bought back in (LTC) a few days ago at around $16.8 and then sold incrementally from $17.5-$18.5 with the whole Huobi news thing. I set my sell orders overnight, and when I woke up they had all filled (yay!). Since I'm homeschooling I sit at the computer alot so I always have a tab open with bitcoinwisdoms LTC/USD chart. When I saw it was going back up and the volume looked ok, I thought "what the hell, why not buy back in!"... So I bought back in at about $19.2 and WHOOOP down it went. So what I'm wondering is, what exactly is the best strategy for this kind of trading? As there are obviously a group of people controlling the entire market during these non-"hype" periods, what should I do? Just set sell orders at 0.038/0.04/0.041/0.042, accept my loses and invest in real stock, or are there any sites that have information on market trends and stock trading that are easy to understand and are written in the same format as the "for dummy" series? I've picked up a little from all the posts in here but it's not really something that is learnt overnight.

    Sorry for the wall of text but I'm just a little torn on what to do.
    We have to learn to not be greedy. I have a problem not following through on that advice even for myself.

    You handled that well on the way up initially. I took pres' advice of 042 but I was incorrectly predicting that would happen short-term. I really should have sold when it streaked up so high to 034 the night waiting for Huobi to open. That was a "pump the story, sell the news" situation as someone else said regarding the Chinese exchanges opening. The timing was also terrible for me as I was on the road and didn't get home until late that night.

    Originally my plan was to sell @ 027, 030, 032. Instead I played the wrong Roulette color and bought some at 031. I did get the 021 thru 025 stuff out. Still debating if I want to take 026-027 off the table or add to it. Getting greedy is a bitch.

    Long-term, I think you'll recover your $7K just fine and then some. I personally can't think of a better investment right now other than medical cannabis grower and supplier stocks.

    BTC is deflationary by design. And there is enough rotting $#@! central banker debt money out there to fill a top 5-10 Crypto's in the future.

  4. #1503
    Last edited by presence; 03-20-2014 at 11:29 PM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  5. #1504

    Default

    Quote Originally Posted by presence View Post
    https://addons.mozilla.org/en-US/firefox/addon/scriptish/

    +



    https://chrome.google.com/webstore/detail/stylish/fjnbnpbmkenffdnngjfgmeleoegfcffe?hl=en

    =

    I always wanted to see greasemonkey in action but it felt broken and $#@!ty and I couldn't get a script working.

    This sounds like they took greasemonkey and made it work the way it is supposed to.

    Guess I have to install the NSA's Chrome. How does an FF plugin combine with Google's browser $#@!?

  6. #1505

    Default

    Quote Originally Posted by xPario View Post
    A moving average (MA) is a line that is drawn across a set of points on a chart. Each point is the sum of x previous candles divided by x. If you set the MA to 5, each point that the line goes through will be the average of the last five candles.
    The reason it's called a moving average instead of just an average, is because for each new candle the value will change and the line that goes through all the points will move.


    This is basically a simplified version of the link that presence posted.
    I'll play with the indicator parameters that PaulWV asked about. Thanks for the cliffs-notes. I can only read so much. My day job for fiat slavecoins keeps me distracted from learning more about swing-trading.

    Also, welcome to the BTC Board.

  7. #1506

    Default

    Quote Originally Posted by xPario View Post
    Hey guys, I've been lurking here for a while and decided to finally create an account and post a little.

    ...

    Sorry for the wall of text but I'm just a little torn on what to do.
    Quote Originally Posted by Paladin69 View Post
    We have to learn to not be greedy. I have a problem not following through on that advice even for myself.
    I'm also finding out that trading requires quite a lot of self-discipline of one's own emotions. When I bought in before (and during) the April run-up I was like a giddy kid, thinking the world was going to end if I didn't turn every extra dollar I had into bitcoins before the price went to infinity. During the subsequent correction I was confused and disappointed. Then there was the November craziness that had me nearly dancing in the street. The December crash was worse--I recall sitting on my couch, sweating bullets and hearing my heart bursting out of my chest, and the fudsters on the forum weren't helping much. I nearly sold at the bottom but I shut the laptop instead, made a drink and turned on the TV. The next day, the price corrected as usual. This was when I realized I needed a thicker skin if I was going to play this game.

    I always think about the Warren Buffet quote: "Be fearful when others are greedy; be greedy when others are fearful." This is totally true and has saved my ass on a number of occasions. I would also like to add my own variation: "Don't feel greed when the market moves up; don't fear loss when the market moves down." You must distance yourself emotionally from your trading or you'll make irrational decisions. Now, after two crypto bubbles I feel like I'm finally getting the hang of it, sort of. xPario, my advice is to you is to take your time, learn the market patterns and study up on technical analysis. Crytpcurrencies are a dense topic, and trading cryptos without knowing how these markets work is like jumping into a pool of sharks... sharks with lasers attached to their forehead. Good luck!
    Last edited by amonasro; 03-21-2014 at 12:04 AM.

  8. #1507

    Default

    Quote Originally Posted by Paladin69 View Post
    We have to learn to not be greedy. I have a problem not following through on that advice even for myself.

    You handled that well on the way up initially. I took pres' advice of 042 but I was incorrectly predicting that would happen short-term. I really should have sold when it streaked up so high to 034 the night waiting for Huobi to open. That was a "pump the story, sell the news" situation as someone else said regarding the Chinese exchanges opening. The timing was also terrible for me as I was on the road and didn't get home until late that night.
    Yeah one of the first things I read after I decided to start trading was to make a system and stick to it. Buuuut my emotions got in the way a few too many times, lol. Damn the BTC-E app on my phone. Anyway, I've learned alot and I hope to be able to apply the things I've learned later in life.

    Quote Originally Posted by amonasro View Post
    I always think about the Warren Buffet quote: "Be fearful when others are greedy; be greedy when others are fearful." This is totally true and has saved my ass on a number of occasions. I would also like to add my own variation: "Don't feel greed when the market moves up; don't fear loss when the market moves down." You must distance yourself emotionally from your trading or you'll make irrational decisions. Now, after two crypto bubbles I feel like I'm finally getting the hang of it, sort of. xPario, my advice is to you is to take your time, learn the market patterns and study up on technical analysis. Crytpcurrencies are a dense topic, and trading cryptos without knowing how these markets work is like jumping into a pool of sharks... sharks with lasers attached to their forehead. Good luck!
    My dad used to daytrade back in the 90's during the whole dotcom bubble, he lost alot of money when it all fell apart, and I'm going to (try) to not make the same mistakes. Today he only does long term investments with market leading companies, and has been extremely skeptical and warned me quite a few times about bitcoin investment. I do understand the risks, which is why I'm reading as much as I can about trading in general before I start trying to predict the market. For now I just have a bot trading, saves me the headache of staring at a chart that I somewhat understand but can in no way safely predict.

    Thanks for replying guys, I feel alot safer taking advice here than in the trollbox lol (no I don't take their advice, ever).

  9. #1508

    Default

    Quote Originally Posted by presence View Post
    Burn figures 1&2 into your retinas; stare until it clicks:

    http://www.investopedia.com/universi...gaverages1.asp



    I think LTCBTC is still rising. My 0420 ceiling may have been far reaching... but I expect 03600 still before we begin our decline into the next bubble.
    When you ran slayer to offload the interim peak, how did you choose when to start it? I'm not seeing how the average person could choose a sensible point. When you begin running it, does it need time to initialize?
    I'm a moderator, and I'm glad to help. But I'm an individual -- my words come from me. Any idiocy within should reflect on me, not Ron Paul, and not Ron Paul Forums.

  10. #1509

    Default

    Quote Originally Posted by presence View Post
    On "initialzing your dragon slayer"

    Quoting for reference
    I'm a moderator, and I'm glad to help. But I'm an individual -- my words come from me. Any idiocy within should reflect on me, not Ron Paul, and not Ron Paul Forums.

  11. #1510

    Default

    I'm a bit confused at what's happening with BTC. I didn't expect it to go back down this low.
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

    Twitter: https://twitter.com/LeviGrandt

    Facebook page: https://www.facebook.com/grandtstori...homepage_panel

    BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG

  12. #1511

    Default

    Quote Originally Posted by PaulConventionWV View Post
    I'm a bit confused at what's happening with BTC. I didn't expect it to go back down this low.
    Someone dumped a few thousand BTC on Huobi, it'll bounce back.

    EDIT: And a couple hundred thousand LTC aswell, price went to 1 yen lol. Lucky $#@!ers that had orders down there.

  13. #1512

    Default

    Quote Originally Posted by xPario View Post
    Someone dumped a few thousand BTC on Huobi, it'll bounce back.

    EDIT: And a couple hundred thousand LTC aswell, price went to 1 yen lol. Lucky $#@!ers that had orders down there.
    Wow, that is huge. I wonder who that could have been? An early adopter losing faith or some rich guy who mistakenly invested millions of dollars in cryptocurrencies?

    What a strange thing to do...
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

    Twitter: https://twitter.com/LeviGrandt

    Facebook page: https://www.facebook.com/grandtstori...homepage_panel

    BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG

  14. #1513

    Default

    Quote Originally Posted by PaulConventionWV View Post
    I'm a bit confused at what's happening with BTC. I didn't expect it to go back down this low.

    http://finance.sina.com.cn/china/jrxw/20140321/205818580267.shtml


     新浪财经讯 3月21日晚间消息,针对有关央行[微博]在3月18日发文要求4月15日前停止一切比特币交易的报道,接近监管层的人士对新浪财经表示,央行确实下发文件,并非直接叫停比特币,而是加强比特币交易 、流通、兑付等环节的监管。
      而多家比特币交易平台在与新浪科技连线时表示,未收到相关通知,现在交易系统一切正常。
      从今日下午17时至19时两个小时中,比特币中国交易价格大幅下挫,从3691元大幅跌至3400元, 跌幅达到5%。
      一位多年从事比特币交易的相关人士告诉新浪科技,虽然上述消息真假未知,但是已经迅速在比特币社区中造 成恐慌,不少交易者都准备抛售所持有的比特币,国内比特币价格可能将大幅下跌。
      去年12月,央行曾针对比特币发出《关于防范比特币风险的通知》,认为比特币是一种特定的虚拟商品,不 具有与货币等同的法律地位,不能且不应作为货币在市场上流通使用。
      央行当时要求,各金融机构和支付机构不得以比特币为产品或服务定价,不得买卖或作为中央对手买卖比特币 ,不得承保与比特币相关的保险业务或将比特币纳入保险责任范围,不得直接或间接为客户提供其他与比特币相关 的服务。
      不过当时央行在通知中明确表示,比特币交易作为一种互联网上的商品买卖行为,普通民众在自担风险的前提 下,拥有参与的自由。因此业内人士判断,央行突然要求停止一切比特币交易的可能性不大。

    Sina Finance March 21 evening news, for the relevant central bank [ microblogging ] at March 18 April 15 issued a document required to cease all reported Bitcoin transactions, person close to regulators said on Sina Finance , the central bank is indeed issued file , not directly halt bitcoin , but to strengthen supervision Bitcoin transactions , circulation, and other aspects of payment .


    The number of bits in the currency trading platform to connect with Sina science and technology , said , did not receive such notice , the trading system now everything is normal .


    From the afternoon 17:00 to 19:00 two hours , the Bitcoin Chinese trading price fell sharply, fell sharply from 3691 yuan 3400 yuan , down 5% .


    Stakeholders for many years in a bitcoin transaction told Sina science and technology, although the news true or false is unknown, but has quickly caused panic in the bitcoin community , many traders are prepared to sell holdings bitcoin , bitcoins domestic prices likely to fall significantly.


    Last December , the central bank has issued a " Notice of risk prevention Bitcoin " Bitcoin for that Bitcoin is a specific virtual goods , does not have legal status and monetary equivalent , can not and should not be used as currency in circulation in the market to use.


    At that time the central bank requirements, financial institutions and payment institutions may not bitcoin price for the product or service , may not be sold or traded bitcoins as a central counterparty shall not be covered with bitcoin -related insurance business or insurance coverage into Bitcoin may not be directly or indirectly, to provide customers with bitcoin other related services .


    But at the time the central bank made ​​it clear that in the notice , Bitcoin transaction as a commodity trading behavior on the Internet , ordinary people at risk from the premise , with the freedom to participate . Therefore, insiders judgment, the central bank suddenly demanded an end to the possibility of not all Bitcoin transactions .


    【“4月15日前停止一切比特币交易”为失实报道】有媒体报道称,“人民银行已于3月18日发文,要求4月 15日前停止一切比特币交易”为失实报道。人民银行对比特币的态度已在人民银行等五部委《关于防范比特币风 险的通知》中明确表述。

    " April 15 to stop all Bitcoin transactions " as untrue media reports said , " the People's Bank has issued a document on March 18 , April 15 asked to stop all Bitcoin transactions " as untrue . Attitude of the People's Bank of Bitcoin has clearly expressed in the People's Bank and other five ministries "on the prevention of risk Bitcoin notice" .

    http://www.weibo.com/u/3921015143#1395409424323



    LTCCNY Huobi fell from over 100 yaun down to 1 yaun in the panic



    http://www.cryptocoinsnews.com/2014/...ice-below-600/

    Fake China Bitcoin ban pushes BTC price below $600

    Christoph Marckx
    21/03/2014
    Altcoins, Announcements, Bitcoin, Bitcoin Exchanges, Bitcoin Regulation, News


    Posted 7 mins ago

    BTC China was one of the first to respond to the rumour, saying they received no document about a ban.

    Bitcoin price has been dropping significantly since yesterday. Markets were responding worried after being told the People’s Bank of China released a statement in which they stated all Bitcoin transactions should seize after the 15th of April 2014.


    Banned by April 15

    The People’s Bank of China didn’t hesitate to share its opinion about the virtual currency in the past. In December 2013, it barred financial institutions from handling Bitcoin transactions, moving to regulate the virtual currency after an 89-fold jump in its value sparked a surge of investor interest in the country. This made Bitcoin price take a fall that was over 20%. Bitcoin took a dive below $1000 on most exchanges. A lot of people interpreted this statement as if China was to ban the cryptocurrency altogether. In reality, the People’s Bank of China said “it isn’t a currency with “real meaning” and doesn’t have the same legal status. The public is free to participate in Internet transactions provided they take on the risk themselves.” After clarifying this, dust settled and Bitcoin price became relatively stable again.
    With the Mt. Gox sage still going on, nobody would be surprised the People’s Bank of China would make a public statement again. After all, people might have forgotten their previous warning, time for a new one. Last night, a new statement was rumored to be released. Rumored, because there was no foundation whatsoever for this. Nevertheless, people obviously panicked as was reflected in another Bitcoin price drop. The virtual currency was slowly climbing back up towards $650 but took a dive below $600 again.
    As for the statement itself, it didn’t look like a warning this time, but more like a definite ban. The People’s Bank of China would have stated that it decided to ban all Bitcoin transactions, effective as of the 15th of April 2014. It’s clear that this isn’t just an every day warning. A ban on Bitcoin transactions causes real panic. So what was actually said? Nothing, it seems…


    Hoax

    Sina Science and Technology got in touch with a number of representatives of different Chinese Bitcoin trading platforms. The news about the ban supposedly was issued in a document to the exchanges on the 18th of March. This document contained the message that by April 15, at the latest, all Bitcoin transactions are to be stopped. However, no exchange received any form of legal document. They assured that trading is going on, and there’s no intention to stop any services after April 15.
    The People’s Bank of China declined to comment on this news, which indicates that this probably was a hoax indeed. So who did throw this message into the world? Maybe somebody who wanted to see a significant drop in Bitcoin prices so he or she could buy in cheap. If so, the strategy worked. Bitcoin is trading at about $570 now, being over $600 only a few hours ago. This kind of manipulation is not what Bitcoin was made for.
    You can check the statement and the exchange’s response to it here. It’s in Chinese, so Google Translate is your friend.
    Update: it seems there was a document, saying People’s Bank of China is looking into strengthening regulations. A ban on Bitcoin is definitely not part of it. The story is still developing, we will keep watching this closely.







    more at reddit:

    http://www.reddit.com/r/Bitcoin/comments/20zt28/the_official_weibo_of_chinese_central_back_says/

    Quote Originally Posted by PaulConventionWV View Post
    I'm having a really hard time understanding the English version of that. Does anyone have a better idea of what it says?

    A human translation follows from
    sinologue btce user:

    sunderstan
    18:25 21.03.14


    Here's the full translation. Sorry for my crappy English as it's not my native language (Coz I'm from Hong Kong.). If there are any grammar mistakes just feel free to correct it before publishing

    About "The central bank issued documents on 18th Match, demanding to stop all Bitcoin Transactions" report, A person with a position which near Management told Sinanews: The Central Bank DO issue a document, stating it doesn't mean to stop Bitcoin directly, but to strengthen the Bitcoin's transaction management, in terms of trading, adoption and taxation.

    Several Bitcoin trading platforms contacted the Sinanews, claiming that they didn't receive related notification. The trading system is running normally.
    Since 5PM to 7PM (GMT+8), Bitcoin's price tanks from 3691CNY to 3400CNY, off by 5%.

    One of the experianced Bitcoin trader told SinaTech, although this news are not proven to be true, it's already taking effect on the Bitcoin community and being panic. Many traders sold all of their Bitcoins held. The price may possibility drop significantly.

    In Dec 2013, The central bank issued a document focusing on Bitcoin, stated that it is a kind of special commodity and it will not be the same as currency which having regulations and protection by the law. It should not and can not be traded and used as currency in the market.

    At that time, the Central Bank banned all financial and payment institutions to use Bitcoin as a pricing unit for all products and services, including trading and insurance. No Bitcoin related services or recommendations allowed to customer.

    However, the Central Bank has also clarified bitcoin trading is just a commodity trading within the Internet. Citizens has the freedom to trade Bitcoins when they agree to take all the risk responsibility. Therefore traders think the Central Bank will not stop all the Bitcoin transactions in a sudden.
    Last edited by presence; 03-21-2014 at 08:38 AM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  15. #1514

    Default

    Quote Originally Posted by PaulConventionWV View Post
    Wow, that is huge. I wonder who that could have been? An early adopter losing faith or some rich guy who mistakenly invested millions of dollars in cryptocurrencies?

    What a strange thing to do...

    He dumped for atleast $500k, maybe it was just a dude who wanted to get out while he's ahead? He probably sold half and is saving half, that's what I would do. $500k is a fortune in china.

  16. #1515

    Default

    Mt. Gox found 200,000 Bitcoin ($116 million) in an old wallet, should check its pockets

    http://www.engadget.com/2014/03/20/m...usaolp00000589

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  17. #1516

    Default

    I'm having a really hard time understanding the English version of that. Does anyone have a better idea of what it says?
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

    Twitter: https://twitter.com/LeviGrandt

    Facebook page: https://www.facebook.com/grandtstori...homepage_panel

    BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG

  18. #1517

    Default

    ..
    Last edited by presence; 03-21-2014 at 08:21 AM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  19. #1518

    Default

    http://cryptowat.ch/huobi/ltccny/15min/


    new charting site w/ aroon osc and bbands

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  20. #1519

    Default

    As of March 13 2014,


    BTC LONG DAILY RATE >>>


    New Liberty Standard October 9 2009 ; 1309.13BTC = 1USD ; 1 BTC = 0.000763924 USD ; 628.964/ 0.0007639 = 823,333.2111 ; 823,333.21X in past 1616 days ; 823,333.21 = x^1616 ;

    X = 1.00846453 ; 0.846% DAILY


    Since "Pre Gox Bubble" Jan 1 2013 GOX 13.28; past 437 days 628.964/13.28 = 47.3617X ; 47.3 = x^437 ;

    x = 1.00886 ; 0.886% DAILY


    Since "Pre China Bubble" August 1 2013 GOX 104.5; past 225 days 628.964/104.5 = 6.0188X ; 6.0188 = x^225 ;

    x = 1.00801 ; 0.801% DAILY


    *** 0.8% DAILY ***

    1.008^365 =

    18.32x annually

    =

    1832% APR



    DON'T 102
    DO
    1832!
    Last edited by presence; 03-21-2014 at 10:14 AM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  21. #1520

    Default

    Quote Originally Posted by amonasro View Post
    I'm also finding out that trading requires quite a lot of self-discipline of one's own emotions. When I bought in before (and during) the April run-up I was like a giddy kid, thinking the world was going to end if I didn't turn every extra dollar I had into bitcoins before the price went to infinity. During the subsequent correction I was confused and disappointed. Then there was the November craziness that had me nearly dancing in the street. The December crash was worse--I recall sitting on my couch, sweating bullets and hearing my heart bursting out of my chest, and the fudsters on the forum weren't helping much. I nearly sold at the bottom but I shut the laptop instead, made a drink and turned on the TV. The next day, the price corrected as usual. This was when I realized I needed a thicker skin if I was going to play this game.

    I always think about the Warren Buffet quote: "Be fearful when others are greedy; be greedy when others are fearful." This is totally true and has saved my ass on a number of occasions. I would also like to add my own variation: "Don't feel greed when the market moves up; don't fear loss when the market moves down." You must distance yourself emotionally from your trading or you'll make irrational decisions. Now, after two crypto bubbles I feel like I'm finally getting the hang of it, sort of. xPario, my advice is to you is to take your time, learn the market patterns and study up on technical analysis. Crytpcurrencies are a dense topic, and trading cryptos without knowing how these markets work is like jumping into a pool of sharks... sharks with lasers attached to their forehead. Good luck!
    I'm as guilty of that as anyone. The day before the Huboi LTC addition, the train started running and the troll box was yelling buy, buy, buy and I bought at $19.30 then got greedy and put my sell order in for 22.00. It hit $21 something then crashed, now at $15.92 . I could kick myself in the arse, but decided I will not sell at a loss. I'll set sell order, and only look at btc-e once per day, maybe twice. My self imposed punishment is that I cannot play the alt market until I sell my LTC at a slight profit, or break even at least.

  22. #1521

    Default

    Quote Originally Posted by Dianne View Post
    I'm as guilty of that as anyone. The day before the Huboi LTC addition, the train started running and the troll box was yelling buy, buy, buy and I bought at $19.30 then got greedy and put my sell order in for 22.00. It hit $21 something then crashed, now at $15.92 . I could kick myself in the arse, but decided I will not sell at a loss. I'll set sell order, and only look at btc-e once per day, maybe twice. My self imposed punishment is that I cannot play the alt market until I sell my LTC at a slight profit, or break even at least.
    I think you may be in luck yet. What happened the other day may have merely been a precursor (buy on the rumor, sell on the news) to a larger rise. Too much, too soon, but it doesn't look like it's done yet.
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

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    BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG

  23. #1522

    Default

    Quote Originally Posted by presence View Post
    As of March 13 2014,


    BTC LONG DAILY RATE >>>


    New Liberty Standard October 9 2009 ; 1309.13BTC = 1USD ; 1 BTC = 0.000763924 USD ; 628.964/ 0.0007639 = 823,333.2111 ; 823,333.21X in past 1616 days ; 823,333.21 = x^1616 ;

    X = 1.00846453 ; 0.846% DAILY


    Since "Pre Gox Bubble" Jan 1 2013 GOX 13.28; past 437 days 628.964/13.28 = 47.3617X ; 47.3 = x^437 ;

    x = 1.00886 ; 0.886% DAILY


    Since "Pre China Bubble" August 1 2013 GOX 104.5; past 225 days 628.964/104.5 = 6.0188X ; 6.0188 = x^225 ;

    x = 1.00801 ; 0.801% DAILY


    *** 0.8% DAILY ***

    1.008^365 =

    18.32x annually

    =

    1832% APR



    DON'T 102
    DO
    1832!
    haha, nice.

    Someone needs to compare bank interest on a CD to BTC in an easy chart grandpa can understand.

  24. #1523

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    Quote Originally Posted by PaulConventionWV View Post
    Are you holding any?
    Not me, but the cat shelter has very small amount. Way less than 1 BTC. I thought it might be wise to leave some of it (what was donated before) in the wallet because all the talk was about a new bubble forming, and the shelter is so desperate that every dollar of value really counts - especially right now. I thought, if it's gonna keep on going down, it might be best to cash it out now, before it becomes worthless.

  25. #1524

    Default

    Quote Originally Posted by Dianne View Post
    I'm as guilty of that as anyone. The day before the Huboi LTC addition, the train started running and the troll box was yelling buy, buy, buy and I bought at $19.30 then got greedy and put my sell order in for 22.00. It hit $21 something then crashed, now at $15.92 . I could kick myself in the arse, but decided I will not sell at a loss. I'll set sell order, and only look at btc-e once per day, maybe twice. My self imposed punishment is that I cannot play the alt market until I sell my LTC at a slight profit, or break even at least.
    In a way I'd say that's good, not selling for a loss. But it's also mixing strategies. In my opinion, being a profitable trader requires adaptation and occasional stop loss. If one plans to never sell at a loss, that's better than nothing, but a very large part of opportunity is missed. Much less risk, much less reward. I thought profits with such a conservative approach would still be worth not having coins in cold storage, now I'm not so sure.

    If you're long on BTC and won't sell for a loss ever, at least consider securing your coins to the max and wait, instead of tying them up on an exchange, which is inevitable if you won't stop loss. This wouldn't be true for sure if the above calculations don't hold, if Crypto flatlines from here forever or goes down, and wouldn't be true if there were no risk to having coin on an exchange.

    Just holding crypto is a great return. Not ever cutting losses while trading on an exchange can decrease potential for a better return by a lot. Don't get greedy huh? Where to draw the line?
    Last edited by nayjevin; 03-21-2014 at 11:27 AM.
    I'm a moderator, and I'm glad to help. But I'm an individual -- my words come from me. Any idiocy within should reflect on me, not Ron Paul, and not Ron Paul Forums.

  26. #1525

    Default

    Quote Originally Posted by Suzu View Post
    Not me, but the cat shelter has very small amount. Way less than 1 BTC. I thought it might be wise to leave some of it (what was donated before) in the wallet because all the talk was about a new bubble forming, and the shelter is so desperate that every dollar of value really counts - especially right now. I thought, if it's gonna keep on going down, it might be best to cash it out now, before it becomes worthless.
    No, as far as we're concerned, it's right on schedule and trust me, it's not going to be worthless. It goes up and it goes down, but it goes up more than it goes down, so don't lose hope. Less than 1 BTC seems like a really small amount to me, but that could be worth a few thousand in a few months, who knows? Definitely bullish right now (buy).
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

    Twitter: https://twitter.com/LeviGrandt

    Facebook page: https://www.facebook.com/grandtstori...homepage_panel

    BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG

  27. #1526

    Default

    Quote Originally Posted by nayjevin View Post
    In a way I'd say that's good, not selling for a loss. But it's also mixing strategies. In my opinion, being a profitable trader requires adaptation and occasional stop loss. If one plans to never sell at a loss, that's better than nothing, but a very large part of opportunity is missed. Much less risk, much less reward. I thought profits with such a conservative approach would still be worth not having coins in cold storage, now I'm not so sure.

    If you're long on BTC and won't sell for a loss ever, at least consider securing your coins to the max and wait, instead of tying them up on an exchange, which is inevitable if you won't stop loss. This wouldn't be true for sure if the above calculations don't hold, if Crypto flatlines from here forever or goes down, and wouldn't be true if there were no risk to having coin on an exchange.
    I had to stop loss a few weeks ago, but I've nearly made everything back already. You definitely have to be careful, but I'm glad I stopped loss now because I would have been in something I didn't want to be in for a looong time at lower prices than I sold at. I'm still technically at a loss in terms of BTC value, but I don't mind because I'm long on it and it hasn't even occurred to me to sell.
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

    Twitter: https://twitter.com/LeviGrandt

    Facebook page: https://www.facebook.com/grandtstori...homepage_panel

    BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG

  28. #1527

    Default

    Dragon Slayer upgrade released, minor changes, mostly related to logging

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  29. #1528

    Default

    Quote Originally Posted by PaulConventionWV View Post
    Definitely bullish right now (buy).
    LOL... We only buy cat food and litter! And vet visits and flea treatments and cat beds and toys and 'nip and litter boxes and cat carriers and isolation crates and scratching posts and the list goes on. We never have anything whatsoever leftover to invest. Some folks donated using BTC earlier in the year, and we were cashing that out, but I left a little bit in the wallet hoping it would grow into more value.

    No, as far as we're concerned, it's right on schedule and trust me, it's not going to be worthless. It goes up and it goes down, but it goes up more than it goes down, so don't lose hope. Less than 1 BTC seems like a really small amount to me, but that could be worth a few thousand in a few months, who knows?
    That was my thought in deciding to leave some in the wallet. Had we known about BTC in the early days when a mere $50 could have turned into a million virtually overnight, we'd never have had a money problem at the shelter again.

  30. #1529

    Default

    Quote Originally Posted by Suzu View Post
    LOL... We only buy cat food and litter! And vet visits and flea treatments and cat beds and toys and 'nip and litter boxes and cat carriers and isolation crates and scratching posts and the list goes on. We never have anything whatsoever leftover to invest. Some folks donated using BTC earlier in the year, and we were cashing that out, but I left a little bit in the wallet hoping it would grow into more value.


    That was my thought in deciding to leave some in the wallet. Had we known about BTC in the early days when a mere $50 could have turned into a million virtually overnight, we'd never have had a money problem at the shelter again.
    I don't think it was ever THAT extreme ($50 to $1mil overnight), but yeah, you would've been sitting pretty by now, as would I if I had stuck with my gut. What seems like overnight is actually a process that takes months. You're better off holding for now.
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

    Twitter: https://twitter.com/LeviGrandt

    Facebook page: https://www.facebook.com/grandtstori...homepage_panel

    BTC: 1NiSc21Yrv6CRANhg1DTb1EUBVax1ZtqvG

  31. #1530

    Default

    Quote Originally Posted by Paladin69 View Post
    haha, nice.

    Someone needs to compare bank interest on a CD to BTC in an easy chart grandpa can understand.
    Last edited by presence; 03-21-2014 at 01:59 PM.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...







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