BitCoins

[Shami-Amourae]

You do know that btc-e has risen like www.wex.nz? So you only need the e-mail you used before to log in and you would get now around 85% of the coins you had deposited at btc-e... In other words you get around 63% of your previous holdings in coins and around 37% in tokens representing the coins you had at btc-e, those tokens are traded at a percentage at wex.nz (usually 50-70% of the coin value).

I took the 55% deal instead since I didn't trust them.
Also, the value of Bitcoin went up dramatically since then, so it was more like 33%

[Shami-Amourae]

We are reaching the end of the mania phase. My play right now is bitcoin cash (BCH), main reason is that it has gone up when BTC has gone down, and I believe that is what is going to happen now as well as the mania phase implodes, initially at least. The engine of the entire crypto market is of course bitcoin with around 50% of market capitalization. I wouldn't be surprised to see bitcoin going down towards $1000, with many alts getting an even bigger haircut or disappearing altogether, within the next 1-2 years, and then a recovery, painfully slow initially will start in earnest.

I've learned to diversify and DO NOT TRADE.
Sit, hold, and forget.
Almost all of my trades ended in disaster.
If I had simply just sat, held, and forgotten I'd be a multi-millionaire now. When everyone is trying to outsmart the next person, the wisest move is to not move, but stay as fixed as possible.

[Shami-Amourae]

Soon a bitcoin won't buy one real tulip. Thirty cents each.

soon

That argument has been made for many years now.

Bitcoin is a revolution in technology so it won't go away anytime soon.

The only way Bitcoin drops to nothing is if a Bitcoin fork or another cryptocurrency takes its place.

The trick there is to simply diversify once a legitimate alternative arises just like Neuro mentioned with Bitcoin Cash.

The cool thing with Bitcoin Cash is everyone who had Bitcoin could also get free Bitcoin Cash using the same wallet/private key.

[madfranks]

I've learned to diversify and DO NOT TRADE.
Sit, hold, and forget.
Almost all of my trades ended in disaster.
If I had simply just sat, held, and forgotten I'd be a multi-millionaire now. When everyone is trying to outsmart the next person, the wisest move is to not move, but stay as fixed as possible.

Me too. I was looking through my old trades, killing myself for selling 2000 LTC when it was ~$3 each, and now they’re close to $100. I used to have 21+ BTC, but sold/traded most of them away in irrational panic sells/trades. Had I sat and held on, I’d also be rich today.

[Neuro]

Me too. I was looking through my old trades, killing myself for selling 2000 LTC when it was ~$3 each, and now they’re close to $100. I used to have 21+ BTC, but sold/traded most of them away in irrational panic sells/trades. Had I sat and held on, I’d also be rich today.

Remember that 5BTC silver coin you purchased, remember that you also have 5 bitcoin cash and bitcoin gold coins on that. So it should be worth around $60,000 today. $25,000 more than you thought a couple of weeks ago! Not bad huh!

I wouldn't call it irrational panics even, yes in hindsight perhaps one could say it was, but these coins are highly volatile, and considering the fast technological development, it is highly unlikely that BTC would keep its perceived value vs competition in the long run. In fact it is surprising that it still does, since its value is perceived as emanating from the underlying block chain technology. Technology wise BTC is a steam powered submarine, while the competitors have developed diesel/battery submarines, and are launching nuclear powered submarines. The only reason BTC is keeping increasing its value is because of psychology, and no-one is certain which particular block chain technology will be dominant in the future, even if most competitors are far superior to BTC.

Keep what you currently have, and in the long run, you'll just have some cryptological math puzzles of incredible complexity, that you can try to explain to your grandchildren that they were worth incredible sums of money at one point. Show them the 5BTC coin, and tell them that it was worth 3,000 ounces of silver, or 50 ounces of gold at one point, but you thought it was going to be worth much more, so you kept it...

The thing is that it isn't you or Shami or Ares that have been irrational in your dealings with this beast. The market is totally irrational, and in hindsight it is easy to say that the most rational thing to do, is just to sit and hold what you have and not trade, or sell. Based on history it would seem so, but the market is in itself inherently irrational, so once something becomes perceived as rational the best is probably to do the opposite.

[TroyOz]

I've learned to diversify and DO NOT TRADE.
Sit, hold, and forget.
Almost all of my trades ended in disaster.
If I had simply just sat, held, and forgotten I'd be a multi-millionaire now. When everyone is trying to outsmart the next person, the wisest move is to not move, but stay as fixed as possible.

That's a good strategy. Being "right" is the easier part - "sitting tight" is what separates the winners from the losers.

[Hitch]

That's a good strategy. Being "right" is the easier part - "sitting tight" is what separates the winners from the losers.

How long do you "sit tight" for though? Do you sit tight until you die, or do you sit tight until you can cash out of the whole mess and buy a house?

If you can sell bitcoin and buy a house outright....do it!! You've already sat tight enough. Enjoy having a home, paid for, you've earned that.

[EE_]

It looks to me like bitcoin should easily take out the tulip mania, as the biggest in history.

[Jewboo]

It looks to me like bitcoin should easily take out the tulip mania, as the biggest in history.

[EE_]

That chart is no longer accurate, the red line should be much higher already. This mania will blow by the tulip mania like it was standing still.

It will be interesting to see how everyone gets out with their loot at the same time, if there's a panic crash.