Silk Road forums

Discussion => Newbie discussion => Topic started by: crazylegs122 on April 11, 2013, 12:32 am

Title: How Not To Get Fucked by BTC Price Volatility?
Post by: crazylegs122 on April 11, 2013, 12:32 am
I feel like its a smart idea to dollar-cost average your bitcoin purchases with what ever is your source of income. Set aside a certain % or dollar amount every paycheck and only buy that amount of bitcoins. Don't just buy when you need to get stuff off SR. Side benefit is you will also control how much you are using SR. If the price skyrockets and you don't use all the BTC from your last purchase, you might have "free" drugs next time you need to re-up. If it drops, well that sucks but once you purchase your next scheduled set of BTC, you'll have a bunch of extra BTC that will go up in value the next time the price swings up. Thoughts?
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: pillowton on April 11, 2013, 12:39 am
Sounds like a good idea to me :) of course a lot of it is luck, especially with the kind of ups and downs we've seen this week; but that's a good a plan as any to secure dem coins.
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: SuperHans68 on April 11, 2013, 01:04 am
faasfasfasf
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: SuperHans68 on April 11, 2013, 01:05 am
afsasf
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: crazylegs122 on April 11, 2013, 01:06 am
HEY MAN THIS THREAD IS FOR SERIOUS DISCUSSION ONLY.. naw jk I just made it to spur some discussion and get to 50 faster. But hey if you could type some words related to bitcoins, that might be nice.
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: SuperHans68 on April 11, 2013, 01:07 am
asgsa
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: crazylegs122 on April 11, 2013, 01:09 am
MAN FUCK YOU HANS. YOU ARENT SUPER AT ALL
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: uniwiz on April 11, 2013, 01:23 am
Works for me.
Gotta to love it when it goes up like this. Even better if you sell before it goes down.
Last year I lost half my money in one night. It cam back a few months later. I started doing your suggestion;)
Now I've cashed out my investment, and I'm playing with the gains.
The hell with drugs, this is fun while it's working ;D
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: californiadreams on April 11, 2013, 01:43 am
good
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: crazylegs122 on April 11, 2013, 01:48 am
Works for me.
Gotta to love it when it goes up like this. Even better if you sell before it goes down.
Last year I lost half my money in one night. It cam back a few months later. I started doing your suggestion;)
Now I've cashed out my investment, and I'm playing with the gains.
The hell with drugs, this is fun while it's working ;D

To hell with drugs? ARE YOU HIGH? ;)

Yea I'm not really intending to do investing in BTC. I really just want to use BTC as a currency, not an asset or investment.
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: wsd23 on April 11, 2013, 02:00 am
(clipped)

To hell with drugs? ARE YOU HIGH? ;)

Yea I'm not really intending to do investing in BTC. I really just want to use BTC as a currency, not an asset or investment.
Exactly this, use BTC as just a medium of exchange, not a store of value. I have been expecting the bitcoin bubble to pop for a while, so most of my BTCs are used inside of a day. Thankfully SR tracks BTC prices and things are adjusted accordingly.

Though I did find my old coin wallet and discovered some 10BTCs in there, bought back in the day at $5 probably. Wish all my other investments would give a yield of 4000% :D.
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: uniwiz on April 14, 2013, 03:16 pm
(clipped)

To hell with drugs? ARE YOU HIGH? ;)

Yea I'm not really intending to do investing in BTC. I really just want to use BTC as a currency, not an asset or investment.
True, true, and yes I am 8)  Daily.

Exactly this, use BTC as just a medium of exchange, not a store of value. I have been expecting the bitcoin bubble to pop for a while, so most of my BTCs are used inside of a day. Thankfully SR tracks BTC prices and things are adjusted accordingly.

Though I did find my old coin wallet and discovered some 10BTCs in there, bought back in the day at $5 probably. Wish all my other investments would give a yield of 4000% :D.

Well then you will always be loosing money. :'(
Now that BTC is back to normal, you should be ok. Turns out somebody was playing with the market. Sorry but people are investing money, and just lost a boat load.
I was lucky, sold my initial investment, at $250 by chance, but bought at $140, sold at $170, bought at $140 again, crash.
At one point I was up 20k. 10x my investment. Now I'm about 2-3 times my investment, with my original amount buying product at $190.
There is nothing you could invest that could make that amount now a days.

Basically if I buy coins, and the market goes up. I buy again to make my purchase, and hold the older stuff.
When the market looks like it's falling, I hedge my purchases.

Also I know there is/are bot on the exchanges trying to hold the price stable. I know because I play with the bot late at night. I make it move a penny this way or that way.

People make money on currency exchanges all the time. The problem is if you don't watch constantly you can lose you shirt. IE what happened last week.
It appears we were sent down the garden path to be eaten. Moral, don't invest, or buy what you can't afford to lose. This whole thing is a house of scams. Be very careful. I'm sure greed bit a lot of people. I should have known when the main stream started reporting on it;)

I'd much prefer just to use BTC, but if you that, you will be on the losing side every time. I got sick of losing 5-10% every rotation.
Now I follow the market. BTW some of the charts are BS as they only show the average. There money to be made buying low, selling high.
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: Zenedar on April 14, 2013, 03:19 pm
I want it to just stabilize for a week so I can reinvest & buy some more =D.
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: powerade510 on April 14, 2013, 03:19 pm
SR USES THE MT GOX WEIGHTED AVERAGE, YOU CAN ESTIMATE WHAT THIS IS GOING TO BE JUST BY LOOKING AT VARIOUS BITCOIN PRICE DATA

AS LONG AS YOU MAKE YOUR BTC PURCHASE QUICKLY AND THEN BUY ON SR THERE SHOULD BE VERY LITTLE VARIANCE IN EXCHANGE RATE

Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: Shoves on April 14, 2013, 04:09 pm
Ya but what I wonder is do the vendors adjust their prices every time bitcoin takes a hike or a dive?
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: modalsol on April 14, 2013, 09:14 pm
Trade.
Title: Re: How Not To Get Fucked by BTC Price Volatility?
Post by: canasian on April 14, 2013, 10:18 pm
How to not get fucked by BTC: buy LTC
Then wait for LTC price to rise then you get fucked by LTC not BTC
problem solved!  ::)

 :o ??? :( ;D :-[ :-\ :'( >:(