Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21253950 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (68 posts by 16 users deleted.)
JayJuanGee
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How much alt coin diversification is needed? 0%?


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July 31, 2014, 04:00:07 AM

Everyone's just talking around here, let's put our money where our mouths are and buy some BTC in order to get this baby on course to the moon again!  Grin

How would you know if posters here are buying or NOT?  I'm sure some posters here are buying (and of the belief that you should buy while the prices are going down... or at least attempting to buy most at the lowest price point - without missing the boat).  I bought some at $575, and I did NOT know whether prices would go lower, and then I will likely buy some more at $550 or so,,, and maybe at other points... depending on the passage of time and whether BTC prices go lower.

To be honest, I believe that a lot of people around here already maxxed out their allotment which they allow themselves to invest in BTC. Some may even be well above a reasonable level.
Yeah, that is the problem. Too many young and/or inexperienced participants in this market. I have to chuckle when most people talk about "fundamental analysis" here because it doesn't apply in the traditional sense. BTC is the epitome of a speculative play. It could go way up or way down. It moves independently of news.  There is no balance sheet and no history of earnings to analyze.  Yet people are over-invested and over-leveraged to the hilt.

When I go to bed tonight, I will sleep well. When I wake up, if the price is lower, I will buy more. I don't care if it is $540, $520, $400, or even lower. If people can't say the same, they should lighten their load.  But not now. Bad time to sell.

BTW:  I believe that I do NOT fit your definition of someone who is over-invested in BTC b/c I am still continuing to increase my holdings in BTC... little by little....  continuously with much of my spare BTC allocated fiat.   

However, in the interest of broader disclosure, I do have some leveraging of my bitcoin holdings...   My holdings are leveraged over about 16 months (until September 2015)... ... so the NOTE will be due then.  I do have a back up source of money to pay off the leveraged amount, in the event that BTC is NOT performing adequately by September 2015...  Then have to go to plan B.... ..



don't leverage if you have the funds to finance your buying yourself. why pay the interest if you don't have to?


The amount was $20k, and the interest was $800 for the whole period from about May 2014 to September 2015.  I think that it was a good idea, but I understand what you are saying regarding potential issues with leveraging.




How the hell did you borrow $20K unsecured for less than 4%?  I assume it was unsecured and that you didn't take a HELOC to do it.

Whether you are overexposed or not is really up to your own judgment.  I think diversification is beautiful, myself.  I've learned hard lessons in my life.  If BTC runs, I'm happy.  If not, I'm still happy.  Of course, one thing that might make me different on this board is that I'm 46 years old.  It has given me time to screw up financially and recover at least a couple of times.  It has given me time to earn and accumulate assets.  I have a plan and a path to financial security that BTC can't shake, it can only hasten.


You are correct.  The loan was unsecure.  It is a credit card promotional rate, and it took about 3 days to secure. 

I could have borrowed more, but I figured that $20k was sufficient given my total situation.

I did several of these kinds of loans in the 2003-6 time-frame, and back then there were some that were completely 0%.  It is more difficult to find 0% these days.