Buy or Wait?

[Rysterf]

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?

[DATA COMMANDER]

My advice is to buy low and sell high.

[BitLex]

question is, what's low and what's high?

[dinox]

question is, what's low and what's high?

Please let me know if you find this out

[CoinMan]

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

[adrian33]

Buy and hold.

[Longmarch]

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.

[adrian33]

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.

[hugolp]

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.

[adrian33]

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.

[Suggester]

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

[Yeti]

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 $2.50

Advice? 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!

[Suggester]

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 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.