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Buying bitcoins

brendan86

Heh guys,

I've been doing a bit of research the last week into buying bitcoins.. I want to buy 1k worth, I know it's risky but I have it to spare and might just see how it goes for a year or so..

I have currently registered on mtgox.com and am awaiting approval on my Id verification.. Has anyone dealt with this site have any info for me?

If I put my money on mtgox that means I have to trust them with my bitcoins is this correct? I won't have to have a wallet on my computer?

I'm just basically asking for advice, it's what I want to do but if someone can explain the best way about it that knows more than me I would appreciate it

Thanks

Brendan

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drunkmonkey

brendanwalsh wrote: »

Bears make money. Bulls make money. Little pigs get slaughtered. And there's a lot of hogs being butchered today. Take your bacon off the table guys before you get sizzled.

Agree this flagged as time to take a short position on Tuesday evening when the sell off began.
Take your profit and run if you didn't buy near the top of the pyramid.

Gryzor

What's going on, I was the wolf of Wall Street upto yesterday! :pac:

NomadicGray

Be greedy when people are fearful

Paddy_B

machiavellianme wrote: »

I sold the lot back to FIAT a while ago. Lost all the profits from the past few weeks but I guess it lessens my CGT burden.
Unsure where to set the buy orders because of the volatility. Could fall a long way yet, but the last time I felt like that it shot up 3k and I was left behind.

Maybe try Dollar Cost Averaging and buy half today and another half next week. If it goes down further, happy days! You'll get more crypto with your other half next week. If it recovers and goes up again, at least you got in today while it was low.

Shauny2010

I've sold a good few of my Alts now. The overall value of my cryptos has fallen, but I've managed to increase my Bitcoin holding.

GreeBo

Shauny2010 wrote: »

I've sold a good few of my Alts now. The overall value of my cryptos has fallen, but I've managed to increase my Bitcoin holding.

I'm still hodling all my alts, totally out of btc these days, doesn't have the same potential

brendanwalsh

pro_gnostic_8 wrote: »

Drama Queen !

Bully!!!

edit: LoLth: same applies to you. attack the post, not the poster or just report it and let a mod take care of it.

Blacktie.

brendanwalsh wrote:

Bears make money. Bulls make money. Little pigs get slaughtered. And there's a lot of hogs being butchered today. Take your bacon off the table guys before you get sizzled.

So do you put money down on this or do you just bitch about everyone who does?

Shauny2010

GreeBo wrote: »

I'm still hodling all my alts, totally out of btc these days, doesn't have the same potential

I find Bitcoin holds up better when theirs a sell off. My strategy (could be a flawed one but I'm doin ok and increasing my bitcoin numbers) is to sell off some bitcoin after a price rise, then find a few Alts that look promissing and haven't followed bitcoin yet. Sell the Alts when they rise and Buy back bitcoin again.
It works most of the time although I have missed out on some rises too

JaCrispy

Shauny2010 wrote: »

I've sold a good few of my Alts now. The overall value of my cryptos has fallen, but I've managed to increase my Bitcoin holding.

I'm trying to figure out how it's possible to have lost value on altcoins? Must be incredibly bad luck.

brendanwalsh

Blacktie. wrote: »

So do you put money down on this or do you just bitch about everyone who does?

So you don't actually read any of my posts on here! just continually attack me the same as the other bullies on this forum. Not surprised!

Not the friendliest bunch around here!

If you keep up this atmosphere you'll drive even more people off boards and on to reddit

GreeBo

JaCrispy wrote: »

I'm trying to figure out how it's possible to have lost value on altcoins? Must be incredibly bad luck.

If you don't diversify you have to be lucky with alts.
I'm often in the red with half my alts, but that other half more than make up for it.
I haven't really tried to day trade or time the market, too much hassle trading back to btc each time and too slow and expensIve.

Even after the huge drop over the last 48 hrs I'm still up over 100% overall, so very happy for 6 weeks work!

Shauny2010

JaCrispy wrote: »

I'm trying to figure out how it's possible to have lost value on altcoins? Must be incredibly bad luck.

I don't know how you would have lost value on the Alts at the moment, I haven't anyways

nuac

NomadicGray wrote: »

Be greedy when people are fearful

And vice versa

Thargor

Yeah its a real bloodbath out there, back to where we were 2-3 days ago on most coins, in some extreme cases you might have to go back 4-5 days to find prices this catastrophically low, better dump while you still can everyone :rolleyes:

GreeBo

Thargor wrote: »

Yeah its a real bloodbath out there, back to where we were 2-3 days ago on most coins, in some extreme cases you might have to go back 4-5 days to find prices this catastrophically low, better dump while you still can everyone :rolleyes:

Lol.

I'm planning on filling my boots once my sepas land

seannash

Be interesting when Asia wakes up soon, they'll have some bargains or perhaps panic and sell. Hoping that they don't celebrate Christmas and don't need money for it ðŸ˜

Tar.Aldarion

Where do you all buy from btw? See how popular some of them are vs others.

annie.t

Thargor wrote: »

Yeah its a real bloodbath out there, back to where we were 2-3 days ago on most coins, in some extreme cases you might have to go back 4-5 days to find prices this catastrophically low, better dump while you still can everyone :rolleyes:

Sums up the whole internet today nicely

EagererBeaver

Diversified a bit for the first time today into XRP, XMR and IOTA using Binance. Want to get me some Blackcoin too.

I'm from the north, with an Irish passport, living in Spain, so getting verified on exchanges is a pain in the arse. Bittylicious is a good deal cheaper for the Blackcoin I want to get, so wish it would all hurry up.

SkySter

Got a bit of ICX yesterday. Going well so far. Bucking the trend.

q85dw7osi4lebg

BTC at $13,500 as I type. Got in and out of a tracker yesterday before nerves got the better of me (due to this forum). Wonder where the bottom is.

seannash

Angelo Sparse Sunflower wrote: »

BTC at $13,500 as I type. Got in and out of a tracker yesterday before nerves got the better of me (due to this forum). Wonder where the bottom is.

I fear when everyone in Europe wakes up alot of people will sell

GreeBo

Looks like everyone everywhere is selling everything.

[Deleted User]

Will it hit 10k I wonder

machiavellianme

Wow. Temporarily touched 8800 euro on GDAX. Almost a 50% drop from the ATH last week.
Scary stuff.
On the other hand, all my buy orders filled at prices I thought were keen but now I'm in the red.

soirish

Buy Dogecoin, it will go to the Moon (literally)

[Deleted User]

Eth tanking too

Kenny Logins

Looks like the last month of craziness is just being completely wiped out.

seannash

Yep it seems like Asia panicked as well and sold. Europe is waking up and selling also.
Might be a while before things settle.
I think a lot of people wont return after this particular drop.