When will the next BTSX pump and dump happen?

[merockstar]

I bought a ton of Bitcoin at $11 around May 2011, and it subsequently dropped to $2. Was I screwed?  :D :D :D

I would wait, but I need to sell a quarter of what I bought at higher than 0.000110 before the end of the year.

Then don't invest in high risk asset with money you need by end of the year. I held my Bitcoin for 2 years before it went higher than my purchase price.

terrible advice for the lower end of the social stratum, imho.

risk is the only way to unfuck yourself.

A very interesting perspective. But I think the otherwise valid advice to 'just buy more, to reduce you're average' is even more rich.

+5% agreed.

[CoinElephant]

I bought a ton of Bitcoin at $11 around May 2011, and it subsequently dropped to $2. Was I screwed?  :D :D :D

I would wait, but I need to sell a quarter of what I bought at higher than 0.000110 before the end of the year.

Then don't invest in high risk asset with money you need by end of the year. I held my Bitcoin for 2 years before it went higher than my purchase price.

terrible advice for the lower end of the social stratum, imho.

risk is the only way to unfuck yourself.

A very interesting perspective. But I think the otherwise valid advice to 'just buy more, to reduce you're average' is even more rich.

[hughmanwho]

I would recommend selling right around not.. it is possible that BTSX with experience a second peak to the bubble..  but either way, odds are that a month or two from now, BTSX will be going for at least half the price.

I'm not trying to insult BTSX but look at most other alt coins for comparison, this bubble isn't done popping yet.

[robrigo]

3) I sell BitUSD for less than the price I purchased it.

You make your money by selling BitUSD for less than you bought it at? Not sure I understand.

This makes sense relative to the price of BTSX, which is probably what luckybit meant. So when you buy BitUSD when BTSX is higher buying power, sell it when it has lower buying power, you gain a net amount of BTSX over your original amount.

[slacking]

3) I sell BitUSD for less than the price I purchased it.

You make your money by selling BitUSD for less than you bought it at? Not sure I understand.

[iHashFury]

Made the mistake of buying on the upswing, need to sell some off at higher price.

Here is how I'm earning money from within Bitshares X.

1) When the price dips I short BitUSD.
2) When the price rises I buy BitUSD.
3) I sell BitUSD for less than the price I purchased it.

So people who are pumping and then dumping into USD simply don't know how to use Bitshares X market functionality. Most of us are just discovering how to control the peg.

It's best you do all your speculating from within Bitshares X because it's better for the peg and for your profits.

Simple and very effective

[mbaeichapareiko]

hodl  hode hold  hodl   :)  that is my long term strategy with btc  and now with btsx.   I believe in the value of both as a new cutting edge technology.   

Remember bit coin when it went from  pennies to a pump and dump.   what if you sold on the first dump of bit coin for a loss?   That's my logic.

in long btsx.       

(now that i  think of it,  i should be loading up with more,   20/20 vision looking back in  a year might play out to have been a very wise move)

btsx user name:  hawaii50

[fuzzy]

This is bound to happen the instant I buy some bitUSD.

Or if something unexpected happens and I have to cash out some crypto.

It's practically a guarantee.

So when circumstances align themselves such that a price hike would fuck me, I'll post here so you guys will all know that the price is about to get pumped.

You're welcome.

Oh my god sometimes I feel exactly the same.  I just hold most of my btsx and say "you cannot sell these you dolt"...then I play with a couple btc worth of btsx. 

I have no doubt that--as long as we are trying to build value for all of crypto--bitshares will be a multibagger even for those who bought in at peak.  Of course, that might take a year or so...or the announcement of a partnership with Stellar to create BitAsset Gateways into fiat (aka shit) world. 

[Brent.Allsop]

I bought a ton of Bitcoin at $11 around May 2011, and it subsequently dropped to $2. Was I screwed?  :D :D :D

+5% +5% +5%

Obviously, not a newbie to Crypto Currency like all the people that think they've been screwed.

[merockstar]

I bought a ton of Bitcoin at $11 around May 2011, and it subsequently dropped to $2. Was I screwed?  :D :D :D

I would wait, but I need to sell a quarter of what I bought at higher than 0.000110 before the end of the year.

Then don't invest in high risk asset with money you need by end of the year. I held my Bitcoin for 2 years before it went higher than my purchase price.

terrible advice for the lower end of the social stratum, imho.

risk is the only way to unfuck yourself.

[vegolino]

You buy high? It drops? Buy more and lower your average cost per BTSX. Then hodl! Pumps and dumps are nearly just noise in the long term. Intrisìc value will prevail in the long run.

+5%

[Chuckone]

You buy high? It drops? Buy more and lower your average cost per BTSX. Then hodl! Pumps and dumps are nearly just noise in the long term. Intrisìc value will prevail in the long run.

[kokojie]

I bought a ton of Bitcoin at $11 around May 2011, and it subsequently dropped to $2. Was I screwed?  :D :D :D

I would wait, but I need to sell a quarter of what I bought at higher than 0.000110 before the end of the year.

Then don't invest in high risk asset with money you need by end of the year. I held my Bitcoin for 2 years before it went higher than my purchase price.

[bitcoinerS]

I have a terrible understanding of how shorting works in the of case BitUSD. Are there any online resources that will teach me how to short sale BitUSD or any crypto currency for that matter?

https://docs.google.com/document/d/1fVyf5oVsLZCrjkptNi2I-GPldIp-QM3vmTKpyy_2ZVU/edit

[Maximus0352]

I bought a ton of Bitcoin at $11 around May 2011, and it subsequently dropped to $2. Was I screwed?  :D :D :D

I would wait, but I need to sell a quarter of what I bought at higher than 0.000110 before the end of the year.

[Maximus0352]

Same thing happened to me. Total supply over 2 billion, the price has been flat since launch, the Chinese over night pump the crap out of it and dump it like a sack of potatoes. I bought at the highest price too I got screwed!

Made the mistake of buying on the upswing, need to sell some off at higher price.

If you believe the price will go up again then maybe you should short BitUSD?

I have a terrible understanding of how shorting works in the of case BitUSD. Are there any online resources that will teach me how to short sale BitUSD or any crypto currency for that matter? 

[kokojie]

I bought a ton of Bitcoin at $11 around May 2011, and it subsequently dropped to $2. Was I screwed?  :D :D :D

[merockstar]

This is bound to happen the instant I buy some bitUSD.

Or if something unexpected happens and I have to cash out some crypto.

It's practically a guarantee.

So when circumstances align themselves such that a price hike would fuck me, I'll post here so you guys will all know that the price is about to get pumped.

You're welcome.

[liondani]

If I own bitUSD and the price goes down of BTSX and I want to offload it (bitUSD), is their an advantage of shorting over selling?

I can't think of an advantage of shorting over selling. You're net 0 on bitUSD in either case, and if you have a short position, you tie up BTSX as collateral and run the risk of a margin call.

Sent from my SCH-S720C using Tapatalk 2

there is a big advantage with shorting if you don't have bitUSD to sell  :P

[biophil]

If I own bitUSD and the price goes down of BTSX and I want to offload it (bitUSD), is their an advantage of shorting over selling?

I can't think of an advantage of shorting over selling. You're net 0 on bitUSD in either case, and if you have a short position, you tie up BTSX as collateral and run the risk of a margin call.

Sent from my SCH-S720C using Tapatalk 2

[bitmeat]

I see the good ol' HoDL advice

[puppies]

3) I sell BitUSD for less than the price I purchased it.

?

Pretty sure he means denominated in bitusd.

[liondani]

3) I sell BitUSD for less than the price I purchased it.

?

[cygnify]

If I own bitUSD and the price goes down of BTSX and I want to offload it (bitUSD), is their an advantage of shorting over selling?

[luckybit]

Same thing happened to me. Total supply over 2 billion, the price has been flat since launch, the Chinese over night pump the crap out of it and dump it like a sack of potatoes. I bought at the highest price too I got screwed!

Made the mistake of buying on the upswing, need to sell some off at higher price.

If you believe the price will go up again then maybe you should short BitUSD?

[luckybit]

Made the mistake of buying on the upswing, need to sell some off at higher price.

Here is how I'm earning money from within Bitshares X.

1) When the price dips I short BitUSD.
2) When the price rises I buy BitUSD.
3) I sell BitUSD for less than the price I purchased it.

So people who are pumping and then dumping into USD simply don't know how to use Bitshares X market functionality. Most of us are just discovering how to control the peg.

It's best you do all your speculating from within Bitshares X because it's better for the peg and for your profits.

[Tuck Fheman]

I bought low and missed out on the chance to sell at the peak and increase my position on the dip...hindsight is always 20/20. Happy being a long-term hodler though, what with Bitshares' future and all.  :D

Same here. I saw it coming, but my deposit to Bter took too long. I thought it went through, then later found out the captcha timed out or something.

So BTFD!

[GaltReport]

...

You need to trust in the idea of bitassets and how they are valuable to the crypto currency community, which will thus make the price eventually rise above what it was a couple days ago. It also annoyed me that you yourself are seemingly trying to pump and dump BTSX... ...

+5% Good call.

[nomoreheroes7]

I bought low and missed out on the chance to sell at the peak and increase my position on the dip...hindsight is always 20/20. Happy being a long-term hodler though, what with Bitshares' future and all.  :D

[oco101]

I understand you guys are probably upset about buying at a higher price than it is now, but I wouldn't worry about it. Just hold onto your BTSX and don't sell at a loss. I am confident when I say BTSX will be worth much more than it was a day or so ago at some point in the future.

My answer to the title of your OP was obviously a joke, because it was kind of a stupid question (sorry but truth.) No one knows what the market is going to do at any certain time. No one knows if it will go down more, if it will go back up, or if it will stay about the same for a while.

You need to trust in the idea of bitassets and how they are valuable to the crypto currency community, which will thus make the price eventually rise above what it was a couple days ago. It also annoyed me that you yourself are seemingly trying to pump and dump BTSX... You basically said "when will price go back up so I can dump". That is slightly annoying to me that you'd be annoyed with people for doing the same thing you are trying to do to other people.

If you can't see the value in bitassets, you are going to be missing out on a large profit sometime in the future (how long is anyone's guess).

+1

[CoinHoarder]

I understand you guys are probably upset about buying at a higher price than it is now, but I wouldn't worry about it. Just hold onto your BTSX and don't sell at a loss. I am confident when I say BTSX will be worth much more than it was a day or so ago at some point in the future.

My answer to the title of your OP was obviously a joke, because it was kind of a stupid question (sorry but truth.) No one knows what the market is going to do at any certain time. No one knows if it will go down more, if it will go back up, or if it will stay about the same for a while.

You need to trust in the idea of bitassets and how they are valuable to the crypto currency community, which will thus make the price eventually rise above what it was a couple days ago. It also annoyed me that you yourself are seemingly trying to pump and dump BTSX... You basically said "when will price go back up so I can dump". That is slightly annoying to me that you'd be annoyed with people for doing the same thing you are trying to do to other people.

If you can't see the value in bitassets, you are going to be missing out on a large profit sometime in the future (how long is anyone's guess).

[Marketorder]

Same thing happened to me. Total supply over 2 billion, the price has been flat since launch, the Chinese over night pump the crap out of it and dump it like a sack of potatoes. I bought at the highest price too I got screwed!

Made the mistake of buying on the upswing, need to sell some off at higher price.

[CoinHoarder]

Made the mistake of buying on the upswing, need to sell some off at higher price.

January 27th, 2090 - 8:29 PM Eastern Standard Time

[Maximus0352]

Made the mistake of buying on the upswing, need to sell some off at higher price.