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Title: Buy or Wait? Post by: Rysterf on June 05, 2011, 08:23:05 AM All of today I have been very sad because just last week I sold my 38 Bitcoins for $7.8 each and now it's $18 each. I am now wondering if I should buy coins now with the $330 I have in my Mt. Gox account or should I wait for the bubble to pop?
Title: Re: Buy or Wait? Post by: DATA COMMANDER on June 05, 2011, 08:32:41 AM My advice is to buy low and sell high. :P
Title: Re: Buy or Wait? Post by: BitLex on June 05, 2011, 08:34:57 AM question is, what's low and what's high?
Title: Re: Buy or Wait? Post by: dinox on June 05, 2011, 08:36:19 AM question is, what's low and what's high? Please let me know if you find this out ;)Title: Re: Buy or Wait? Post by: CoinMan on June 05, 2011, 08:37:57 AM Today's price is low, tomorrow's is high. You are welcome.
CoinMan question is, what's low and what's high? Please let me know if you find this out ;)Title: Re: Buy or Wait? Post by: adrian33 on June 05, 2011, 08:39:21 AM Buy and hold.
Title: Re: Buy or Wait? Post by: Longmarch on June 05, 2011, 08:48:39 AM Buy and hold. I believe this may be the correct answer. Bitcoin either succeeds or fails. Too soon to tell. Spin the wheel or don't. Title: Re: Buy or Wait? Post by: adrian33 on June 05, 2011, 08:50:13 AM There is one way it will surely succeed. When people spend their bitcoins and don't sell them.
Hoarding is a different matter. Possibly better to hoard just as you would save (if the price is going up, then hoarding is like saving/investing anyhow, so hoarding is the wrong term.) When the price stabilizes or falls, the question will be where can stagnant bitcoins be placed so they will produce a return. Title: Re: Buy or Wait? Post by: hugolp on June 05, 2011, 08:56:20 AM There is one way it will surely succeed. When people spend their bitcoins and don't sell them. Hoarding is a different matter. Possibly better to hoard just as you would save (if the price is going up, then hoarding is like saving/investing anyhow, so hoarding is the wrong term.) When the price stabilizes or falls, the question will be where can stagnant bitcoins be placed so they will produce a return. I agree. The price of bitcoin will suffer a drop at some point and Im curious to see the reaction fo the community. Title: Re: Buy or Wait? Post by: adrian33 on June 05, 2011, 09:01:58 AM I agree. The price of bitcoin will suffer a drop at some point and Im curious to see the reaction fo the community. My hope is that there is a general consensus amongst the community to say "okay, this is thing is starting to level out, time to spend, even if just a little bit." There are an increasing number of places to spend and in that sense time is on our side. For example: http://bitgigs.com/ Investing in bitcoin startups would be best. Title: Doesn't really matter Post by: Suggester on June 05, 2011, 09:08:40 AM All of today I have been very sad because just last week I sold my 38 Bitcoins for $7.8 each and now it's $18 each Your sadness made someone else very happy. This speculation game is a zero-sum.I am now wondering if I should buy coins now with the $330 I have in my Mt. Gox account or should I wait for the bubble to pop? Assuming we know the right answer: If we give you a good advice we benefit you, but we hurt the person who would've acquired your profits. If we give you a bad advice we benefit that person, but hurt you. Again, it doesn't really matter :)Title: Re: Doesn't really matter Post by: Yeti on June 05, 2011, 09:13:59 AM Your sadness made someone else very happy. This speculation game is a zero-sum. Correct. I couldn't have gotten into Bitcoins, where it not for somebody who got out at $10. But then maybe he started mining when it was easy or got in when they were selling kBTC at $2.50Advice? Depends on your risk profile and your understanding that Bitcoin is totally unlike any stock or option! The price will eventually level out. Could be at $1/BTC or at $100/BTC. Hell, if enoug people join the craze we could soon be trading in mBTC! Title: Re: Doesn't really matter Post by: Suggester on June 05, 2011, 09:20:27 AM Correct. I couldn't have gotten into Bitcoins, where it not for somebody who got out at $10. But then maybe he started mining when it was easy or got in when they were selling kBTC at $2.50 All the same. I'm kicking myself in the butt now for stopping mining too early last year when I was getting 200 coins/day. I thought back then (and still do) that Bitcoin has no future (https://forum.bitcoin.org/index.php?topic=57.0) and that the bubble will pop sooner or later because the system has a built-in perpetual deflation. That doesn't mean pyramid schemes can't be useful if you jump out before they burst :). My wrong decision made somebody else rich now. It's all the same. |