How Not to Sell Bitcoin on eBay for 300% Profit

Re:How Not to Sell Bitcoin on eBay for 300% Profit by Helianthus on Sunday August 25, 2013 @03:10AM (#6271224)

>I have never traded stocks. I have never taken an economics course. I have never aspired to be someone who trades money for money.

This is how someone becomes greedy.

>As an advocate of privacy, Bitcoin intrigued me at a fundamental level. Trying to make money was (hopefully) merely a side effect.

Just a side effect!

>I would be scraping maybe $5-10 every BTC, and I would have to wait weeks to see the money. I also had little capital. My interest faltered.

Wow, what an academic undertaking!

But wait, he goes full casino.

>No way. Too good to be true. I know what you're thinking, there's no such thing as a free lunch, PayPal is an insecure way of trading BTC, etc. I wasn't really thinking at the time.

As far as I'm concerned anyone who is into Bitcoin has no right to be angry at Wall Street, because they get sucked into the same damn game.

[ Parent | on HN ]

Re:How Not to Sell Bitcoin on eBay for 300% Profit by santoshalper on Sunday August 25, 2013 @03:29AM (#6271248)

I don't see any reason to get holier than thou. He is pretty clear he hoped to make a quick buck and got burned. I thought it was admirable that he is willing to post so openly about it. Most people would be embarrassed and not want to talk about it.

[ Parent | on HN ]

Re:How Not to Sell Bitcoin on eBay for 300% Profit by dysruption on Sunday August 25, 2013 @03:13AM (#6271229)

I am not angry at anyone, in fact I understand why somebody can get sucked into the "game". You're right, my intentions ended up being not-so-pure. A good lesson!

[ Parent | on HN ]

Re:How Not to Sell Bitcoin on eBay for 300% Profit by Helianthus on Sunday August 25, 2013 @04:46PM (#6273655)

To be clear, my criticism is meant to be directed at Bitcoin and Bitcoin's culture, not at your honest and well-crafted story-telling.

Cheers.

[ Parent | on HN ]

Re:How Not to Sell Bitcoin on eBay for 300% Profit by jafaku on Sunday August 25, 2013 @04:03AM (#6271311)

Don't dare compare him with Wall Street, he wasn't cheating on anyone. He was just making the Bitcoins flow more freely, and reach places they couldn't have reached otherwise. He was the free market at work.

[ Parent | on HN ]

Re:How Not to Sell Bitcoin on eBay for 300% Profit by Houshalter on Sunday August 25, 2013 @04:57AM (#6271413)

He wasn't "getting sucked into the game" or being greedy.

Are you trying to say that anyone who tries to make money through arbitrage is greedy or has no right to be angry at Wall Street?

[ Parent | on HN ]

Re:How Not to Sell Bitcoin on eBay for 300% Profit by Helianthus on Sunday August 25, 2013 @04:41PM (#6273629)

Yes.

[ Parent | on HN ]