wow, it's dropped a lot since the summer.

btc is listed on XE.com for others that are curious.

Wow, has it ever dropped. This time last year it was over $1000 and now its $233.

I wasn't aware it could be shorted. Where is that happening?

I don't know of anywhere that would allow you to short it. That would be awesome.

Bitfinex and Huobi. but you need BIG cojones to short a currency that can spike up so quick... bot is a must :2 cents:

Maybe so but this monopoly money is accepted for goods and services. Thus, can be traded for actual money.

Interesting! Never heard of 'em.


He won't get it, don't bother. Hell, there's a Bitcoin ATM right down the street from me that converts BTC to cash. LOL. Doesn't get much more "real" than that.

$222.35 Back in

looking at the chart it doesn't look like its had a 10% upswing all week??

and the price keeps falling so you'll loose money buying low thinking it will swing up and doesn't.

http://i59.tinypic.com/o7qeys.jpg

You're zoomed in too far. Jan 4 - Jan 7 was the last time it happened. It will pop as long as it holds above 200. :2 cents:

come on dip down below $200 :)

hit 160 @ bitstamp

Yeah it happens here and there, but if you bet on every 10-20% drop then you'll easily loose money on the long run.

In at $160, arbitrage between stamp and -e is printing money like a mint right now! $20 difference! This should be illegal.

I agree. You must put some thought into it rather than buying every time it drops.

Yes but there was no way to tell that it would raise back to $180.. according to this logic you guys had to buy in at $185 (when it dropped from $208) instead of $160 and then you would loose money..

He is talking about sending coins from one exchange to another exchange that has a $20 higher sell price.

But, you're right. Nobody knew if it would bounce back from 150-160 range or keep going down. You have to get as much information as possible to decide when to buy. Like all currency trading it is high risk.

ah yeah, I missed that part, sorry :)

no link for me?

Yea and I hope everyone doesn't believe all the bullshit you post without proof :1orglaugh

To be fair, I used some industry-specific lingo. I stayed up as long as I could keep my eyes open, buying around $160 on stamp and selling around $180 on btc-e. What a fuckin' night. Gonna reward myself today.

Nearly buying time again :)

That was exciting. Too tired to think straight today.



http://3.bp.blogspot.com/_Sz8PisWOoT...an+brother.jpg

I posted about making $ from BTC's volatility. Its dropped and gone back up over 10% a couple times in the last 24hrs, proving my point once again. I posted to give people a little insight, a way to make money if they so choose. Im not posting to show off to a bunch of (for the most part) strangers.

Its your $, do what you like with it. I like making more and more every chance I can from as many different avenues as possible.

Holy shit, right? I might need a nap ...

http://reactiongifs.me/wp-content/up...-money-bed.gif

damn so your a programmer & also arbitrage bitcoin spreads...impressive.

:)

I've been doing arbitrage on the coin-based markets for a couple of years now. It was a "wild west" scenario in the early days, but crazy nights like last night are much scarcer lately.

the problem is it's a steady decline so if it doesn't spike enough to sell you end up loosing money. I would jump in if it was staying somewhat steady or going up, guess it's more of a gamble right now :/

If that's your thought process, you aren't sophisticated enough to make money doing it, and I would recommend you do NOT try it -- you will almost surely lose money. Stop-loss trades are an absolute must, as well as multi-point entry, arbitrage, etc. If you don't know what some of that means (or don't want to learn), please do NOT waste your money .. that's all you'll be doing. :2 cents:

early on the author said "Its a VERY, VERY simple way for anyone to make $"

so now we aren't sophisticated enough??? lol

btw I was taught you shouldn't use stop loss on volatile stocks, especially ones that are declining :(

I'm not the author of this thread; I am advising caution. If you think you know better, best of luck to you. :thumbsup

i blame this for the current state of BTC :1orglaugh:1orglaugh:1orglaugh

Times like this are the most exciting. This is what I love to see.

This is awesome :thumbsup

Great :thumbsup

I must be a right thick cunt because I made a note of the price on reading this ($235) and 8 days later it hasn't gone above that. Glad I have fuck all money to buy :1orglaugh

On a more serious note, obviously some bought in at 160 - 190.... why not at 235, even though that 235 had tumbled from 280 or so? I'm missing the 'very simple' aspect somewhere for short term trading, what's the lightbulb moment I'm not grasping?

If you look at my post above, I was back in at $160. There are levels of support, similar to stocks, that I analyze to determine my in/out points.

yeah yours was the one I thought of with that 160 number. At least that makes me feel somewhat better, knowing that it isn't quite as simple as just buying on a 10% dip, and there's more to it like support levels (of which I have zero clue about, I don't know my stocks from my jqueries :1orglaugh ). I guess it *is* simple when you know, and must be/seem very basic to a lot. though obviously if you don't know, well, you don't know :)

cheers :thumbsup

If it was simple, everyone would do it, instead of sitting on the sidelines whining about how it's Monopoly money.

I think I got you beat bro, I bought BTC at around $1 and sold all mine when they got to $1000. I've been shorting them on Bitfinex since they hit there peak and have been riding the price down for over a year!

And, today, out at roughly $250, as I will be traveling, and don't like to be "in" when my hands aren't on the stick, so to speak.

I purchased some at $200 :)

The proof is in the posting. You've made at least 15% on this trade. :)

Will you marry me?

:thumbsup Good man. We must be near the current top I guess. But don't listen to me, I always sell too early.

Hm bought some at $250 and its at $287 but not sure if I should sell lol

so I sold and right after that it went up to $300+ lol

Doubt it. It should go over $300 today. I am traveling and can't check right now. I just don't like to hold large amounts when I am not near a computer for long periods.

btc went legit today!

Agreed; CoinBase is a good thing, in the long run.