My Bitcoin History:

@$10 USD/BTC: I was told about bitcoin about a year ago, but not as an investment, but as a payment system for business. I'm ADD, so I didn't get around to it until about a month ago...

@$40 USD/BTC: I began to research bitcoin

@$50 USD/BTC: I bought my first lot of bitcoin

@$60 USD/BTC: I had 1/3 of my liquid into bitcoin...

@$70 USD/BTC: I was up late one night and able to sell at $70 and buy back at $60 during the dip

@$80 USD/BTC: I got cocky about the last day of trading and had 2 days where I lost about 30% of my BTC

@$90 USD/BTC: I sat tight and held on for $100

@$100 USD/BTC: Yesterday, I moved my BTC from Gox into BTC-E to spread my risk and accrue more BTC via alternate currencies

@$1 USD/LTC: Today, I spent half my bitcoins on LTC last night... I sold off NMC before going to sleep, it tripled by morning. DOH!

@$4 USD/LTC: I sold half my LTC for BTC @ 400% profit in under 12 hours!

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Purpose

I'm a 27 yr old working in the legal field, doing well for myself and would like to make some high risk investments

I'm here to learn, contribute, and be apart of something that is more then just an investment bubble, but a revolution into a new category of money systems

I'm enticed by the positive attitude of the community, and believe that this will gain power through the people, despite inevitable resistance from governments and old timers.

The idealist in me wants to believe BTC will be successful and even co-exist with fiat, but the realist in me see's great risk in getting to greedy...

1. Government & Legal trouble that will arise if BTC gains enough power. It's a threat to the banking institution and very powerful people. It's also a threat as a means to buy drugs, sex, and even use it for international terrorism. Even if the government loses this battle, the resulting psychological effects of bad press could cause a panic and lead to a crash or at least a great reduction in price.

2. Easy manipulation @ low volume (relative to the entire market) ...@ only 1 billion it's very easy for big owners to manipulate the numbers and set traps

3. Competing alternate crypto currencies.  Can BTC monopolize the market, or will it be necessary for others to compete. Do they offer some feature that bitcoin can't? Can they co-exist?

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Anyway, glad to be here. I spend most of my time in the speculation forum on the wall observer thread

-Kyle

If you have your bitcoins on an exchange instead of your wallet, you can sell them instantly. You don't even need to do anything, you can just put in a book offer to sell them for $100, for example, and if the price drops to 100 they will be sold.