QWoA: When should I buy Bitcoin?
Whenever the price of Bitcoin is up, all the people who haven't gotten in yet hear about it again and ask "should I buy now?" to which the answer is obviously No! Buying when everyone is talking about the high price is clearly a bad idea.
So when is a good time to buy?
As soon as the mainstream media starts screaming at full blast that Bitcoin is dead. Start buying.
Interesting view. Yes, I fully agree on that. The media-sentiment can be seen as a contrarian indicator, in some way similar to published retail sentiment (or also media related biases) in fx/commodity/indizes/bond markets.
It would be very interesting to gather informations on the view of market professionals (big specs or institutional traders) and to display this information regularly. I was thinking about using Steemit, as a voting tool, in order to achieve both gathering retail data and the bias of pros (by simple saying whoever holds above X USD in cryptocoins belongs to this group). Over time such analysis could be very interesting. But I guess it would be hard to gain enough participations regularly. Anyway, you are right on this in my opinion. Thanks for sharing!
Lol you right @modprobe I always buy some bitcoin when i heard bitcoin sucks.
I'm happy to hear about bitcoin and more can read this post ... nice @modprobe
Thanks @modprobe , @hadimemories...
Bitcoin, good choise for inverstation, I am now learning to buy some poloniex coins from sbd or steem that I get from steemit.
Welcome to the wonderful world of crypto trading. Good luck!
Thank you
@modprobe thank you for the informative post about bitcoin
@modprobe I woul like to know your take on Polonies remove the trollbox.
Haha, they removed the trollbox? Interesting. I have no comments there, as I've never liked poloniex. They always lost my money, so I quit sending it to them. :P
Yes ... I understand ... send to me also no problem ... hahaha
You are absolutely right.. but it is difficult to wait. I bought a little bit 1,5 month ago. My first btc. then it was worth 1600$ but i was scared that it would be wrong. but I said what the hack and do it. Now it is 2700$. this was just luck it could have gone the other way.. But when I didn't do it I was still waiting for it to go down.. I wish I bought a little more..
But buy what you can miss and can loose, then you are save.
Yeah, Bitcoin is more sound money than any fiat, including the dollar, so if you price things in fiat, almost every Bitcoin purchase will be green eventually... At least that's how it's been so far. But Bitcoin is in dire straits right now, and Ethereum isn't the answer, so what is? The time is come to start keeping an eye out for a successor to Bitcoin in free money.
Yeah but what successor? Eth had a big problem last week.. i stop gambling on all different alt coins. Only projects i believe in like game / mgo. And you?
Alas, that is the question. Ethereum belongs to those weary giants of flesh and steel now. That was, I think, the point of The DAO. It was simultaneously an experiment and a precedent: This is our chain now. We bought it, and its rules are binding on everyone, but we can change them at will.
I am currently building Eos, and it is my hope that it will be a true successor to Bitcoin, but that is and will always be a wait and see proposition. Even Ethereum isn't good or bad on its own; it is simply a tool. The question is, who wields it, and to what end
Those who choose to remain free must ever be vigilant against those who choose to die.
Are you building Eos. Part of dev team? I am looking into it. I only am very very small inevestor. And have Some spare btc left. It Will be Eos or tezos
Yes, I'm on the Eos dev team. You can find my commits on the github repo; look for commits by Nathan Hourt.
busy times now with EOS? All going as expected?
great. i hope to make the right decision.. i assume you go all in on eos
Ohhh, I'll probably maintain some diversity in my holdings, but I definitely plan to hold some EOS when the time comes. :-)
Correct!
I am new to this and have recently bought a small investment of bitcoin but I am currently sitting for the next big drop so I can make the most of it before it rockets back up around 4K-5k 😉
Do you still believe in Bitcoin? For me it seems to be dead already, most people just haven't realized it yet.
Bitcoin is in dire straits. The whole crypto world is. I suspect we're currently undergoing a wall-street-powered market manipulation, and if so, they're almost certainly in bed with regulators ready to swoop in and provide 'solutions' as soon as prices crash and people cry. Such is their way.
There appears to be a lot of effort to break cryptos via social and price manipulation right now, and it's yet to be seen whether people will be levelheaded enough to spot the deception and choose a path that benefits themselves instead of the adversaries.
I'm one of those people who still haven't gotten in. While it's been absolutely incredible watching it grow it is even more exciting being here at Steemit and being able to learn about it and earn... Upvoted and following you, thanks for a great post. I'd forgotten about all the other negative media saying Bitcoin was dead until I saw this!
Haha, well you found the easy way in. Earn on Steem, then roll some STEEM into Bitcoin, if you want it. And if not, just keep doing what you're doing.
But the gap from STEEM to BTC is much smaller than the one from USD.
And it's even better than the gap from the Canadian dollar! Our loonie is not exactly a strong currency these days.
Experiencing Steem is fantastic. Learning and overtime earn, seems like a winning combo. Hope you're having a great day!
If you never buy any you will regret it. Imagine if 5 years ago just on a lark you would have bought $50 worth of bitcoin and forgotten about it until today. I genuinely think that anybody who is under about 60 years old should have some bitcoin but people in general are just not psychologically prepared for it yet. That's why its nowhere near a bubble, most people do not even know what it is. Bitcoin is going to a price so high that saying it now will seem insane. It can easily be $10,000 in a year.