2013-04-30 Sydney Morning Herald - I Survived the Bitcoin Bubble, Maybe

[kiko]

http://www.smh.com.au/technology/technology-news/i-survived-the-bitcoin-bubble-maybe-20130430-2iq8p.html

Tongue in cheek column, detailing (first hand for once!) one reporters journey through the recent volatility.

My heart was pounding. My future was crumbling. I really, really didn't want to sell - I suspected the volatility was just a short-term thing, and that prices would soon begin to climb. On the other hand, I didn't want to lose my shirt. I'd invested $1000 in bitcoin, and given the apparent fragility of every site handling my money, there seemed to be a real possibility that I could lose it all. I put in a sell order during one of the bitcoin upswings. A few minutes later, to my relief, my order went through - I'd sold all my coins for an average of $163 each.

[Gabi]

He bought at 138, now it is at 145 and increasing. He is profiting right now. What the hell did he expect, to become the new Bill Gates in two weeks? Bitcoin is NOT a get rich quick scheme.

Also buying at 138 and NOT buying at 50? Looks like he applied the "buy high" tactic 

[BitChick]

He bought at 138, now it is at 145 and increasing. He is profiting right now. What the hell did he expect, to become the new Bill Gates in two weeks? Bitcoin is NOT a get rich quick scheme.

Also buying at 138 and NOT buying at 50? Looks like he applied the "buy high" tactic  

I think many people did jump on board when it was skyrocketing just to make a quick buck but then panicked.  Of course, they did not take advantage of the low prices and are now feeling it is too "risky" and now they no longer want to be involved. Granted, I was not able to take advantage of the low prices like I would have wanted to because we have all of our "spare change" tied up in BTC right now. We did not panic sell and are just holding on because we think there is so much more value in it and we are just in the infancy stage of this.  Sure it is risky, but I kind of feel sorry for this guy.  What will he think in 4 or 5 years if BTC does become mainstream and is worth 100X or more what he sold them for?  I don't want to live with that regret.  I would rather lose cash then live with that regret so I will just practice some patience now and see where it goes.