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When will you start buying more? (self.Bitcoin)

bitquester が 投稿

We're in a pretty awkward price with BTC at the moment. What is the price at which you will actually start buying above/beyond what you already are?

For me personally, I have a large stash at avg. price of 260, but probably wouldn't really buy more unless we see the 180-range.

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[–]Five100 11ポイント12ポイント  (11子コメント)

$350/week no matter the price.

If bitcoins hit $.04/BTC I will have all of them with in about 30 years.

[–]21Bitcoin 14ポイント15ポイント  (10子コメント)

I will have all of them with in about 30 years.

No you wont. ;)

[–]Five100 4ポイント5ポイント  (9子コメント)

.... $.08 FINAL OFFER

[–]Bitcoinopoly 4ポイント5ポイント  (8子コメント)

The coins won't all exist until about the year 2140.

[–]Five100 2ポイント3ポイント  (7子コメント)

I thought I put available. I did not :/

Now I get it...

[–]Plesk8 2ポイント3ポイント  (5子コメント)

Well... Satoshi is not likely selling... so thats ~1M BTC you probably won't get ;)

[–]Ameobea 0ポイント1ポイント  (3子コメント)

Do we know any of his addresses? Or is it just generally known that he has that many somewhere?

[–]zonky 1ポイント2ポイント  (1子コメント)

He was smart and mined every fresh block he got into a different address. Who knows which ones he cared to move let alone coins he could just buy elsewhere. Short answer: No, and it's an almost impossible task to find them.

[–]Ameobea 0ポイント1ポイント  (0子コメント)

Ah - that makes a lot of sense. I remember reading that the original goal of bitcoin was to have absolute anonymity. Thanks!

[–]circuitloss 0ポイント1ポイント  (0子コメント)

We know all of his addresses. Or at least, there has been plenty of analysis of what he mined, when and how.

If you want to see it yourself, go to Blockchain.info and start looking at the first few blocks. (That links to block #4) Satoshi mined blocks and sent each block reward of 50 BTC to its own address and you can see this take place on the blockchain. (Many of these early addresses now have more than 50 BTC because there are also lots of spam transactions sent to these addresses later.)

All told, Satoshi mined about 1 million Bitcoin, but he only spent 50. Here's more information about that.

[–]BitcoinNL -1ポイント0ポイント  (0子コメント)

I think Satoshi lost his private keys that why he only spended 50BTC....

[–]Bitcoinopoly -3ポイント-2ポイント  (0子コメント)

If you really want to get technical, 'within' should be one word. :P

[–]hendrixski 8ポイント9ポイント  (0子コメント)

I buy bitcoin regularly. But also spend them pretty quickly (purse.io just gives such good discounts... also gyft.com). I gotta try out some of those cheap-flights-for-bitcoin websites.

I'm probably not helping short-term price, but I feel like I contribute towards long-term price through driving up usage.

[–]mc432 17ポイント18ポイント  (7子コメント)

I buy every week. Dollar cost average.

[–]amnesiac-eightyfour 15ポイント16ポイント  (2子コメント)

Same here... maybe not every week, but 2 or 3 times a month... basically at any price. I'm not a trader and I'm not in it for the short term gain. Neither can I predict a climb or fall in price, so I'll simply buy :)

[–]bitquester[S] 8ポイント9ポイント  (1子コメント)

Nice. Eventually I'm hoping there are enough accumulators like us that supply shrinks up a bit. Seems like those 3600 coins a day still weigh pretty heavy.

[–]amnesiac-eightyfour 3ポイント4ポイント  (0子コメント)

It will. I think there are not that many people who've touched Bitcoin and then stopped being interested at all.

There are some buttcoiners who are either jealous, paid shells or just have nothing better to do. On the other hand more and more people are getting interested in bitcoin and start using it. They accumulate bitcoins over time.

So in the end, seen the halving every ~4 years, it's just a matter of time when the average demand becomes bigger than the supply of new coins. I am very optimistic on the long run. The only great I have is a major fuck up along the way. As long as that doesn't happen, I don't worry that much about tomorrow's price.

[–]gopher33j 7ポイント8ポイント  (1子コメント)

Same here. I buy the same amount every week. I don't really care about the price at this point, I am accumulating "units".

Don't try to time anything, you will most likely lose.

[–]zonky 2ポイント3ポイント  (0子コメント)

I've found Sunday / Monday is a good time to have your auto-buy scripts set.

[–]Chakra74 2ポイント3ポイント  (0子コメント)

I do something similar except I purchase every 2 weeks on payday. Haven't missed a payday bitcoin purchase in a while now.

[–]BitcoinMD 2ポイント3ポイント  (0子コメント)

This is the tactic that is supported by the evidence.

[–]bigupurself7 6ポイント7ポイント  (1子コメント)

Were we supposed to stop buying ?

[–]kynek99 1ポイント2ポイント  (0子コメント)

When you have no more fiat to exchange for bitcoins.

[–]turd66 5ポイント6ポイント  (5子コメント)

I buy bitcoin regularly using the Lawnmower app (www.lawnmower.io).

Trying to speculate by timing the market on short term price movement is a fools game.

[–]bigupurself7 1ポイント2ポイント  (4子コメント)

Do explain. Do you trust this app ? Looks very promising.

[–]fearLess617 2ポイント3ポイント  (2子コメント)

It just came out of Tribe 5 at Boost VC in San, Mateo....it's pretty legit.

[–]bigupurself7 1ポイント2ポイント  (1子コメント)

Another stupid question. I have keep the change with BOA. I wonder if I need to turn that off.

[–]fearLess617 1ポイント2ポイント  (0子コメント)

Yeah I would think so (I don't actually use the app but they're both the same concept - one saves the other purchases)

[–]turd66 0ポイント1ポイント  (0子コメント)

Been using it for a few weeks, automatically purchases via a Coinbase every couple of days. I trust Coinbase for holding the coins, plus its really not too many to worry about given it's just spare change and they only watch your bank statement similarly to Mint.

[–]btchodlhodle21 2ポイント3ポイント  (0子コメント)

I keep buying every month circa 1,500 USD. I live in South America. I won´t stop before 10,000 USD/BTC

[–]plentyoffishes 2ポイント3ポイント  (0子コメント)

Smart not to try to time the market, since that is impossible. Buy when you can. That's it. You'll be happy in time, but we have no idea how much time that is.

[–]steuer2teuer 2ポイント3ポイント  (0子コメント)

Personally i think it's important to buy/earn enough BTC in a relatively short time to get rid of the fear of missing out on a sudden bull run. How much is enough is different for everybody but once you get to that point you can buy a little bit extra every week/month without worry. Right now my BTC purchases are a lot smaller than they were in the beginning but more frequent and with ease of mind instead of a sense or urgency.

[–]21Bitcoin 8ポイント9ポイント  (11子コメント)

As long as bitcoin is cheap enough for me to buy whole coins with each paycheck, I will not stop. Bitcoin has to hit 1k for me to stop buying.

[–]Logical007 3ポイント4ポイント  (10子コメント)

I don't really follow that logic...

... BTC won't appreciate anymore once it hits $1k?

[–]21Bitcoin 0ポイント1ポイント  (9子コメント)

No, I won't be able to afford to buy whole coins. That is when I have decided to pause buying and wait and see what happens with the price.

[–]HitMePat 2ポイント3ポイント  (7子コメント)

Why do u need to buy a whole coin each time? Instead of picking a USD amount you're comfortable with and buying that many BTC every paycheck?

[–]21Bitcoin 0ポイント1ポイント  (6子コメント)

I have picked a us dollar amount I'm comfortable with..

[–]HitMePat 1ポイント2ポイント  (5子コメント)

Right...let's say that number is $900 per paycheck. If btc reach $900 on a particular week you can buy 1 coin exactly. If the next week btc is at $1,001 will you just sit out? You can always buy 0.9 btc. What's so magic about them hitting 1k?

[–]21Bitcoin 0ポイント1ポイント  (4子コメント)

If the next week btc is at $1,001 will you just sit out?

Yes, I will just sit out.

[–]HitMePat 2ポイント3ポイント  (3子コメント)

Ok. But you realize I'm trying to ask you WHY...right? Because it makes no sense to me.

[–]21Bitcoin 1ポイント2ポイント  (0子コメント)

1k is around the last peak. I want to stop putting money into this when it starts to cross the last peak bubble price. I did this last time when it hit 250 in 2013, I stopped until it dropped again.

I might stop buying sooner since I do have a target amount I'm looking for. If I get to X bitcoin before the price gets to 1k per coin I will also stop buying.

[–]Geronimomo 0ポイント1ポイント  (0子コメント)

B1=$1000 will have serious resistance both ways.

[–]zonky 1ポイント2ポイント  (0子コメント)

Because its his arbitrary rule, I'm not sure if he doesn't understand that % of change is what matters, not whole bitcoins. I'm with you but this man has his own rules.

[–]Logical007 1ポイント2ポイント  (0子コメント)

Fair enough

[–]btcdrak 5ポイント6ポイント  (2子コメント)

Waiting for ~$150, ideal <$135

[–]kynek99 2ポイント3ポイント  (0子コメント)

I'm also waiting, but for $0.01, so I can buy them all.

[–]zonky 2ポイント3ポイント  (0子コメント)

Stack them bids. It's gonna be a deep summer.

[–]x1lclem 1ポイント2ポイント  (2子コメント)

I'll buy when I have cash to buy with. Which, at current projections, will be a long time from now.

[–]Five100 1ポイント2ポイント  (1子コメント)

/u/changetip 25,000 Bits

[–]changetip 1ポイント2ポイント  (0子コメント)

The Bitcoin tip for 25,000 Bits (25,000 bits/$5.67) has been collected by x1lclem.

what is ChangeTip?

[–]plentyoffishes 1ポイント2ポイント  (1子コメント)

The correct answer is "when there's blood in the streets". Is there blood in the streets yet?

[–]metamirror 2ポイント3ポイント  (0子コメント)

I try not to look down.

[–]PENGUINSflyGOOD 1ポイント2ポイント  (0子コメント)

When I start to see it going up and think it will keep going up. So, probably before the next halfening

[–]contractmine 1ポイント2ポイント  (0子コメント)

When? Today :)

[–]stop_runs 1ポイント2ポイント  (0子コメント)

Never stopped

[–]livinincalifornia 2ポイント3ポイント  (3子コメント)

Once it bottoms out at $221.63

[–]plentyoffishes 1ポイント2ポイント  (0子コメント)

Oops, it hit $219 today. :(

[–]Ameobea 0ポイント1ポイント  (1子コメント)

RemindMe! 30 days "Was the prophet correct?"

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[–]Cygnus_X 0ポイント1ポイント  (1子コメント)

I'm pretty happy with the amount I have collected. The plan is to continue to generate interest via swaps until there comes a good time to revert back into the fiat system.

[–]RockyLeal 0ポイント1ポイント  (0子コメント)

"A W on the weekly chart"

[–]_nightengale_ 0ポイント1ポイント  (0子コメント)

The next time I need to purchase something and bitcoin is a payment option.

[–]platinum_rhodium 0ポイント1ポイント  (1子コメント)

I will buy several months before each halving, regardless of price.

[–]kynek99 1ポイント2ポイント  (0子コメント)

It's about a year before next halving. I think it's good time to start now if you haven't already.

[–]Lawsky 0ポイント1ポイント  (0子コメント)

When I can afford to 😁

[–]ARMORED_TAINT 0ポイント1ポイント  (0子コメント)

When I can buy via the etf.

[–]burarummmmmm 0ポイント1ポイント  (0子コメント)

When I get more money.

[–]lechango 0ポイント1ポイント  (0子コメント)

Well currently it costs the most efficient miners in China about 550 CNY (less than $100) to mine a coin. I feel this may be a sort of base price assuming difficulty stays somewhat stable as it has been. Of course with the current state of BTC and its inability to scale, this needs to be fixed before I will buy any more to hold onto.

Note, I still love to utilize BTC as a currency, I now get paid in it and hedge my risks accordingly with bitreserve, but as far as holding as an investment I'm not too sold that there will ever be another bubble in price.

[–]kynek99 0ポイント1ポイント  (0子コメント)

I don't care about the price right now. I have bitwage set to convert 10% of my paychecks. I will keep using bitwage until at least $5000 per bitcoin then I will invest in mining.

[–]yourliestopshere 0ポイント1ポイント  (0子コメント)

All day long, if I can find more dollars to sell.

[–]shortbitcoin 1ポイント2ポイント  (4子コメント)

The $20-$50 range. Seriously.

[–]wqhbay1 2ポイント3ポイント  (3子コメント)

Quite possible, depending on how badly this blocksize fork goes. I won't be buying until it's resolved.

[–]shortbitcoin -1ポイント0ポイント  (2子コメント)

You won't be buying for a quite a while then.

[–]yeeha4 1ポイント2ポイント  (1子コメント)

Neither will you. Seriously.

[–]shortbitcoin -1ポイント0ポイント  (0子コメント)

No I will buy soon no matter what happens. Buy to cover, that is.

[–]Riiume -1ポイント0ポイント  (0子コメント)

Speckalatin'

[–]Bitcoinopoly -1ポイント0ポイント  (4子コメント)

The turmoil over block sizes was injecting a lot of uncertainty into the future of the entire bitcoin ecosystem. No matter the technology, if we can't come to a consensus one way or another then all is for naught.

[–]SundoshiNakatoto 1ポイント2ポイント  (1子コメント)

No it is not. This is exactly what makes bitcoin great: Debate, argument, and decentralized consensus.

This makes me want to buy more bitcoin.

[–]bitquester[S] 0ポイント1ポイント  (0子コメント)

Hmmm...this is true - it makes it "great" for those people who think these things are great. But to an outside investor (who either wants to buy lots of coin or fund bitcoin companies), their only question is "will this scale"? If they see that there is constant risk of forks and network weakness due to necessity of consensus among disparate parties, they will say "maybe not" or at least "let's see how this plays out first." To outsiders (and even big BTC-holders like myself), there's way too much ambiguity re: how consensus plays out. It seems on target for a hard fork with eleventh-hour implementation. That's a lot of uncertainty.

[–]bitquester[S] 0ポイント1ポイント  (1子コメント)

Agreed. There was a growing momentum in May, but the discourse over block size has really reminded everyone how small/fragile the network is. I'm certain there have been a handful of people with deep pockets who have recently said, "Wait, this entire thing could be put in jeopardy by a couple of guys who live with their parents?"

Of course, none of these guys live with their parents, but the mindset of big money guys is either they are for innovation and progress, or they are whiny and difficult. This debate over blocksize has shown how difficult it is going to be to make bitcoin live up to its potential.

[–]romerun -1ポイント0ポイント  (3子コメント)

does it really matter ? Btc will either worth million or zero, nothing in between.

[–]jzcjca00 0ポイント1ポイント  (1子コメント)

The probability of it going all the way to zero within the next 100 years is pretty much nil, and it's unlikely to hit a million in the next decade unless there's hyperinflation of the U.S. Dollar, something that could realistically happen, what with quantitative easing and all. But you probably meant that Bitcoin would become worth a million of today's dollars, which I think will take decades at least. So for the next few decades, I think it's almost certain to be somewhere in between. It's time to put this "nothing in between" myth to bed.

[–]kynek99 0ポイント1ポイント  (0子コメント)

100% agree. If I bitcoin would be worth $1M tomorrow. I can't even imagine what orders for miners would look like. People would start mining using even their smart watches or calculators to get more coins :)

[–]_niko 0ポイント1ポイント  (0子コメント)

This afternoon? Or tomorrow? December 19, 2023?

[–]Introshine 0ポイント1ポイント  (0子コメント)

Sub $10

[–]_o0 -1ポイント0ポイント  (3子コメント)

Why would you buy Bitcoin with so long to go till the halving? Theres still an oversupply of new Bitcoins being dumped by miners. Next year only 1.25 BTC / minute might be a reasonable rate to buy in again.

[–]kynek99 -1ポイント0ポイント  (2子コメント)

Because sooner you start, more you have before price is up again. Wouldn't be you a happier person if you could start buying in 2011 ? If I would know about bitcoin back in 2011, I would have at least 10.000 bitcoins today. Because I started in 2014 I have soooo much less.

[–]_o0 -1ポイント0ポイント  (1子コメント)

IMHO youre not being very strategic about when you buy in.

How about waiting until 6 months before the halving?

[–]kynek99 0ポイント1ポイント  (0子コメント)

Well, I keep buying small amounts every other week, but keep reserved $30K for some bigger events, like that one.

[–]rende -2ポイント-1ポイント  (3子コメント)

I'm waiting for the surge before I buy. In the mean time I make monies from arbitrage

[–]lifeboatz 1ポイント2ポイント  (0子コメント)

At the risk of "buying high". That's a tough game to win at.

[–]bitquester[S] 0ポイント1ポイント  (1子コメント)

Yeah I suspect there are a few others as well who are waiting for confirmation of an uptrend. It moved from 260-305 pretty quickly. We may see something similar soon.

[–]cqv 0ポイント1ポイント  (0子コメント)

confirmation of an uptrend

How would this look like? We had an uptrend after the dip in January.