Hey folks,
I’m new here and signed up to discuss BTC/USD (that’s bitcoins, as in the P2P cybercurrency) trading because it’s been on the move the last couple of days (up from about 6 cents to 10) with 10x the usual volume.
I realize it might be at risk of manipulation due to the small amount of bitcoins in circulation, but there were some stories on freshmeat and fsdaily that may be driving the interest.
Anyone here following BTC or involved in the bitcoin project?
Wow! From 10 cents. To 10 dollar in 3 years! What other thing can have that profit?
I’m trading them.
Actually? Is it do-able?
Yes, it is possible. It has low liquidity compared vs “normal” forex currencies, and has no leverage. I prefer to use it as a currency to buy things or to do some saving, diversification.
For trading like EURUSD it is not good, because the spread is to high, but I think it is going to be better.
I just checked with the 3 Brokers I use, and I did not see this as an available pair to trade.
What is the price behavior of the pair, I am curious.
you should check with mtgox.com. It is the best way to trade btcusd. And sorry, it does not support fancy charts nor mt4 nor anything we are used to.
But I need to say, about a month I bought some BTC for 9.3 USD, now they are about 12.4 USD each one, so I’m selling some of my BTC.
Worth bumping and quoting this post. The most recent rally is bordering on the absurd
yeah!
My most expensive buy was about 13 USD about 6 months ago. At 130USD currently, it is a 1000% profit in 6 months!
Nice return, mate. Have you thought of taking profit?
I don’t completely understand the bitcoin fad. I understand that the supply of bitcoins per se is limited, but there’s no stopping the creation of new virtual currency to parallel bitcoin. Official fiat money at least have nominal backing, in that you can only pay off debts to the govt with their currency, and almost everyone is indebted to the government in some way (taxes, bills, fees etc).
Nop, I’m not going to take profit. I plan to use bitcoins as money, and buy things and services when I need ones. For example, I recently renew some web domains and paid with bitcoins.
The creation of bitcoins is limited to 21 million, but every 4 years the rate of production halves. It started 4 years ago at 50 bitcoins every 10 minutes. Today it is 25 bitcoins every 10 minutes. On 2016 it is going to be 12.5 bitcoins every 10 minutes and so on.
Well, you can exchange bitcoins for fiat money to pay taxes. Companies can accept bitcoins so you can pay the bills with them. There are services that allow a normal company to accept bitcoins, and that company converts the bitcoins to USD or EUR instantly so you get on your account your fiat money without handling bitcoins directly.
I prefer to keep my bitcoins as bitcoins and not exchange them to fiat money.
A friend that introduced me to bitcoin bought 500 coins in February 2011 and has held on to them ever since, even during the initial rally that followed a couple of months later. Even during this rally I was screaming at him SELL, SELL, SELL but he still hasn’t changed his position from a long term bull. He doesn’t have any trading experience or knowledge about the markets but he is a computer scientist and really believes in the whole concept of bitcoin and will only consider selling some of his stash when the price hits $1000 a BTC.
I was fortunate that he gave me 50btc as a birthday gift in 2011 and that I also happened to be traveling asia during the first rally and crash because almost certainly I would have sold low and rebought low. I purchased another 20 coins last year for around $8.50. I’ve come close to selling this past week but some how I’ve managed to sit on my hands and just watch.
Price has been pretty stable the last couple of weekends but I’m expecting fireworks this coming Monday. I’m considering taking partial profits at $150, $170 and $200, maybe 5 BTC at each level.
Now if only I could pick tops and bottoms, then I’d be bloody rich!
Don’t treat bitcoin as an investment, but as a safe haven.
If you look for the current market on Europe and US, you can see that it is a lot of potential for bad news in the fiat currencies, and bad news for them is good news for Bitcoin.
I expect a price of 200 USD this year, and maybe 1000 USD for 2016.
I would try to use my bitcoins as cash, paying what I can with them, and saving something for long term.
managed to gold my nerve and not take any profits. Will probably see 200 by Wednesday this week!
don’t sell all your BTC; save something as a long term investment /savings.
well, it is above 200 (US$235) per bitcoin and it is Tuesday… will see tomorrow!
I heard that Namecheap, the domain registrar, started accepting Bitcoins a while ago. I’m still trying to wrap my head around this currency system but for now, I’'m still buying domains in USD :32:
yeah! I have some domains with namecheap, paid with bitcoins 
Today the bitcoin had a very big sell off (more than 50 % in couple hours) after that a big rally.
Just check this chart
Gotta love the volatility of bitcoin. Its been pretty much all up until today’s “correction”
Well, this is a BIG CRASH hehehehe, just like mid 2011!
That’s the problem of lots of people buying something without knowing what they are doing. But the price will be up again above 200 usd for mid year or before
And if BTC falls below 13 usd, I will buy more