Whoa, that's crazy. I e-mailed Sealand and recommended they adopt bitcoin as a currency a few months ago.

This is actually what I'm doing.

But I will probably start cashing out 1/3 of my coins at $200 in the short(er) term, whenever it gets back up there, and hold the others for a very long time (years).

I actually cashed out a little into gold, but gold is a HORRIBLE investment, at least in Massachusetts where I live. First, it is always taxed as a short-term gain, so that means 28% tax (my tax bracket) PLUS 12% state tax (MA short term capital gains). Also gold is in a bubble right now and has been dropping. Finally, coinabul charges you about 8% over spot for gold so you lose money right off the bat.

The only reason to buy gold is if you expect it to help you evade taxes (it won't).

66.50

I use okcupid all the time and know the guys that founded.

this is awesome.

close friend of mine met his wife on okc.

If you have that much power, why use a pool at all! Just mine yourself!

Running an exchange that deals with as many trades as it dealt with is not easy!

They probably weren't prepared for how quickly bitcoin became popular and their software is not scalable.

In other words, throwing more hardware at it only postpones the problem.

They need to write a new trading system from the ground up and that takes a lot of time.

So, there is nothing wrong with MtGox exactly, they just aren't equipped to deal with the demand.

Imagine a small restaurant and suddenly a new office building opens next door and 100s of people start going there for lunch.

At first you can hire more cooks and waiters to deal with the demand, but eventually you gotta renovate the place and expand the kitchen and dining area.

That's whats going on with MtGox.

wow flavius, did you sell any during the buble?

I have 777. I bought at about 10 and about 17 (spent 10k total) and didn't sell any during the bubble.

See poll. How may are you holding on to now after the crash?

60 is the new 2.

Until tomorrow, when 50 will be the new 2.

It's not zero, but it's not much higher than zero.

If amazon.com announced that they would start taking bitcoins then I could see the price octuple.

Quadruple means back up to 265, that would make me so happy

A month ago bitcoins were at the same price they are now but I have 10 coins more now, plus another couple grand.

So I am up, but could have been way more up had I sold more at 200 or above.

I bought at 10 and didn't sell at 25 either.

My brother said I was stupid for not selling.

My brother also told me to sell at 49.

So if I listened to him, I'd be even worse off than I am now.

Good for you Jrock, no one cares.

To answer your question, 60%

gonna buy about 75 coins.

This. People who didn't sell at 200, either just got in at 200 or plan on holding bitcoins for the long term.

People are selling now because they are scared and they want to get out.

The smart people are buying now with the intention of holding for a while.


I bought at 10, didn't sell at 265 (well, I sold 1/15 my stash at 200) and plan on buying more.

Bitcoins are on sale now!

I know that Litecoin is still vulnerable to the 51% threat. I don't know much about the other currencies so I'm not sure. If one of them claims to be immune to it, let me know and I'll read up about it.