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April 16, 2013, 05:29:41 AM |
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Quick summary of my Bitcoin history-
Nov 2011 made 1st btc tx on-bought 500 btc for about 1k USD to fund a transaction for a certain highway site
lurked around forums for a while their till I was ready to make a purchase
Jan 2012-went too make purchase and realized that my BTC were worth over 3x what I paid.Now instead of bitcoins just being a part of using the highway site they had my attention as a viable investment/store of wealth(still didnt come around to the concept of them replacing or even supplementing fiat)
Mar 2012-made another purchase on SR.Realized my BTC had lost approx 20% of their January value but I was still had 350 btc that i never expected to have after that first purchase.Spent about 50 of them but decided to watch BTC more closely now.Told myself I would buy all i could if price went below 5$
Mar 28 2012-Price is below 5$ for a few days so I do some research,find these great forums and start lurking and absorbing all I can.Decide that next day i was going to go all in for at least 1 year at this point.I liquidate all my easily liquidated assets and make a rather large purchase using aurumXchange to MTgox code.(forums made me very hesitant to give ID to mtgox)Transferred all of it to a cold wallet and sat on it promising myself not to touch it till march 29 2013.
March 17 2013-read all about Cyprus and escalting BTC price.Almost went against my word and cashed out at 70 a few days later.Decided to hold out.
March 29 2013-The day has arrived.Decided things looked good but I would hate myself if the price crashed.Decided after a lot of lurking to sell my 300 "free" btc I had from my first SR purchase.Sold almost all of them at 75$ to 2 different friends who wanted to get in on this "thing".
April 8-Price is inching closer to 200.Decide to sell 50% of my existing BTC.Sold a bit more to friends and the rest on bitfloor because it wasnt lagging.Told my 2 friends I was selling half my BTC because I needed the USDs and that I didnt have time to watch the market as closely as I like to.However I would be holding my other 50% for another year,because I believed in BTC and wanted a stake in it come hell or high water.They decided to sell all their BTC also,which I was not in support of.But because they relied on me for BTc input and advice they just wanted out.
April 10-watch price go to 260$-fight urge to sell-friends call kinda pissed about the 50% price increase in 2 days.Told em I didnt think they should sell and that it wasnt my fault.they were so mad that their 75 only turned into 180 instead of 260....I got pissed and told em to fuck themselves and to take responsibility for their own actions.
April 11-freefall starts
April 14-Friends call to apologize.
April 16-decide to finally post because I am so sick of all the FUD flying around the forums.
I feel sorry for all the people who bought in at the high end of this cycle.but the fact that you didnt get rich overnight or lost all your savings does not mean that BTC is any less of a paradigm smashing concept or that you should try to incite others to panic.It seems that some of you are very angry at your ill fated choices and are trying to get others to make the same.Or maybe it is a misery loves company scenario.But the majority of the knowledgeable people on this forum are adamant about people making risky investments.I have been watching this Forum for over a year now and not a day goes by that I havent seen the members here warn people not to invest WHAT THEY CANT AFFORD TO LOSE.This is by far the most mature and helpful financial community I have ever come across.Go to some of the gold/silverbug forums and you will see so much less care for newcomers.They will make you think that gold has never been a losing investment.Anyone who has ever spent anytime here knows that the veterans espouse careful investing in BTC.This is not some new tech company or a bet on a horse at Churchill Downs.This is a potentially GAME CHANGING currency/store of wealth/idea.So please read the wiki,ask questions and only spend what you can lose because Crypto-currency is here to stay and stop clogging up the forums with FUD.Constructive critiques are always appreciated and will make this community stronger.
TL;DR-Ive had some BTC now I have less of em.Made some money.I am in it for semi long term and am Tired of seeing so many people spreading Panic and FUD.
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