And I thought I would never live to see such a bubble

[BitSlut69]

If you are confident this is a bubble, which it may be, then you can sell off some (not all) of your BTC, hold the fiat in your exchange account, and then buy back into BTC when the bubble has subsided. I believe this is called shorting. You take profit now, and if you're bet is right you end up with the same amount of BTC, plus more fiat to do with as you wish.

[tellmemiau]

Do you have any information on how quickly the value of silver rose during the first 5 years after it was discovered?

+1 bitcoin is way different. All comparisons are silly.

[DannyHamilton]

- snip -
you can sell off some (not all) of your BTC,
- snip -
I believe this is called shorting.
- snip -

I believe this is called "selling".

Unless I'm mistaken, "shorting" would involve selling bitcoins that you do not own.

You borrow bitcoin from someone else, and then sell those borrowed bitcoin with the intention of buying them back later at a lower price and returning the re-purchased bitcoins to the lender.

Example:

Borrow 100 BTC
Sell the borrowed bitcoin at $66 per BTC for a total received of $6,600
Wait for exchange rate to drop to $50 per BTC.
Buy back 100 BTC for $5,000 (keeping $1,600 for yourself)
Return the 100 BTC

The issues you can run into with shorting are that the lender may want the BTC back before the price has dropped, or the lender may require some amount of interest rate on the loan and the interest can end up being higher than the revenue from shorting.

A relevant quote from John Maynard Keynes after being wiped out in a short position in 1920: "The market can stay irrational longer than you can stay solvent"

[MIST514]

BTC lender ? hook me up lol, mind you I got the cash to buy em......

[DannyHamilton]

BTC lender ? hook me up lol, mind you I got the cash to buy em......

Sure. I'll lend you some bitcoin.  But first you'll have to go through a significant credit and income review (that you'll pay for).  Then if you qualify, I'll determine an interest rate based on risk factors such as duration of loan, risk of default, and collateral provided.

[GotBitCoins]

All right - I think I have bought everything that I need at these levels.
This was probably the final flush.
And now it's time for the next stage in the bubble explosing - the sucker rally that should take us back to ~150 - it's the "back to normal" stage which is intended for sucking in as many people as possible before fading back into oblivion...
(btw, I was lucky, very lucky to get out at the 164 -187 levels)

wooohooo.... what a ride!

GotBitCoins