Can some one share his feelings after buying 1k BTC today?

[genuise]

I bought some at $5-7 and now my feeling is not bad but I all the time I know that it can crash back.
And probably I will manage to quit not lossing too much.

But seeing todays prices makes me too nervous especieally when I imagine myself buying now and facing tomorrow big crash to ~5.

Of course I am exaggerating but you know, noone knows for sure.

so if it is possible to share your experience, please share it.

thanks

upd: sorry maybe it is more appropriate to speculation.

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[nebulus]

I bought some at $5-7 and now my feeling is not bad but I all the time I know that it can crash back.
And probably I will manage to quit not lossing too much.

But seeing todays prices makes me too nervous especieally when I imagine myself buying now and facing tomorrow big crash to ~5.

Of course I am exaggerating but you know, noone knows for sure.

so if it is possible to share your experience, please share it.

thanks

upd: sorry maybe it is more appropriate to speculation.

I Cashed out all my current BTC at $74.11 and I am a little sad that I sold seeing the prices at almost $90 today but I smell hyperinflation and a bubble bursting soon.... I called the housing bust in ~2005 and told my dad to sell, I also called the Google, IPO going nut, and the Apple downturn, and I do this with out looking at fancy charts, I use my Gut, and so far in my life its lead me well.... I PRAY I didnt cash out on Bitcoins, and this $86 is what we expect to be a cheap price for coins in the future.

You're just bitter... Should've waited till the Cyprus banks opened up...

[carborundum]

Everything is so much clearer with hindsight. The potential upside for BTC is vast, even now. The man in the street hasn't heard of it. Its like the internet back in '94.

We'll see wild price swings, certainly a massive correction is in order, but there is too much upside still in this.

$1,000 = 1BTC ... very possible

[Razick]

Everything is so much clearer with hindsight. The potential upside for BTC is vast, even now. The man in the street hasn't heard of it. Its like the internet back in '94.

We'll see wild price swings, certainly a massive correction is in order, but there is too much upside still in this.

$1,000 = 1BTC ... very possible

In the long run? Very possible, but even giving the massive increase in user-base and lower block reward, I expect a correction. This is a classic bubble.

[deathcode]

Everything is so much clearer with hindsight. The potential upside for BTC is vast, even now. The man in the street hasn't heard of it. Its like the internet back in '94.

We'll see wild price swings, certainly a massive correction is in order, but there is too much upside still in this.

$1,000 = 1BTC ... very possible

In the long run? Very possible, but even giving the massive increase in user-base and lower block reward, I expect a correction. This is a classic bubble.

This is not a bubble...
you won't see BTC at less than $40-50 ever again, get used to it...
in two years, maybe $1000-$5000
Tell that to the guy who bought a pizza with 10,000 BTC...
that was less than 3 years ago!
If you have $1000 to spare, put it in bitcoin, it's only a $1000 you won't die if you lose $1000 right?
the potential of turning that in 10000-50000 overwights the potential of losing all your money. Worst case scenario, you have the BTC and no body will take those away from you either they are worth $1000 each or $20 each...

[alexeft]

Everything is so much clearer with hindsight. The potential upside for BTC is vast, even now. The man in the street hasn't heard of it. Its like the internet back in '94.

We'll see wild price swings, certainly a massive correction is in order, but there is too much upside still in this.

$1,000 = 1BTC ... very possible

In the long run? Very possible, but even giving the massive increase in user-base and lower block reward, I expect a correction. This is a classic bubble.

Why would you expect a correction? The lower block reward doesn't contribute to a bubble, it's exactly the opposite.

[justusranvier]

Just buy and HOLD.

For the longest time.

[advisers]

Everyone knows that BTCs will be worth 100,000 or 1,000,000 each at some point... just a matter of time...

I would just split them and call BTC the current micro or nano BTC... just to make the process faster... psychologically, 1 coin cannot be worth millions, so SPLIT IT!

[Razick]

Everything is so much clearer with hindsight. The potential upside for BTC is vast, even now. The man in the street hasn't heard of it. Its like the internet back in '94.

We'll see wild price swings, certainly a massive correction is in order, but there is too much upside still in this.

$1,000 = 1BTC ... very possible

In the long run? Very possible, but even giving the massive increase in user-base and lower block reward, I expect a correction. This is a classic bubble.

Why would you expect a correction? The lower block reward doesn't contribute to a bubble, it's exactly the opposite.

Because a halving of new coins created does not justify a rapid 666% increase in the price of all bitcoins ever created.

[alexeft]

Everything is so much clearer with hindsight. The potential upside for BTC is vast, even now. The man in the street hasn't heard of it. Its like the internet back in '94.

We'll see wild price swings, certainly a massive correction is in order, but there is too much upside still in this.

$1,000 = 1BTC ... very possible

In the long run? Very possible, but even giving the massive increase in user-base and lower block reward, I expect a correction. This is a classic bubble.

Why would you expect a correction? The lower block reward doesn't contribute to a bubble, it's exactly the opposite.

Because a halving of new coins created does not justify a rapid 666% increase in the price of all bitcoins ever created.

Not by itself, but it's a factor, especially when contrasted with practices such as fiat quantitative easing, bank deposit raiding etc.

I have been thinking about block reward halving these days and I come to the conclusion that perhaps many people were waiting to see if bitcoin could act as promised, which it did, so, many of those people became a lot less hesitant. Subconsciously, I am probably one of them.

[w00t]

Everyone knows that BTCs will be worth 100,000 or 1,000,000 each at some point... just a matter of time...

I would just split them and call BTC the current micro or nano BTC... just to make the process faster... psychologically, 1 coin cannot be worth millions, so SPLIT IT!

I have thought about it quite a lot and I think you are right.

Average person is not ready to pay 0,00047954 BTC for anything. Yet if it was 479,54 BTC I think everybody (non-techies) would understand it.
The split in a way of 1:1'000'000 would be reasonable. I don't think technical split is even necesarry (see below).

I think this is the only flaw (obviously non technical - it's only about voluntary consensus) this currency have. People are not mentally used to buy 10 USD thing as 0,114038088721633 BTC.

Same is with capacitors if anyone around here is into electronics - 1 Farad (one farad) is just way too much. take a look at this:


The biggest capacitor (on the left "Siemens") is "just" 5000uF (microFarad) - 5 mFarad (miliFarad) or 0,005 F (Farad) and as you can see it is quite a big capacitor - size vise.

---

I think (registering the current value of bitcoin at about 88 USD for 1 BTC) the most commonly used should be mBTC so the above mentioned 10 USD equal 114,038088721633 mBTC

[01BTC10]

I bought some at $5-7 and now my feeling is not bad but I all the time I know that it can crash back.
And probably I will manage to quit not lossing too much.

But seeing todays prices makes me too nervous especieally when I imagine myself buying now and facing tomorrow big crash to ~5.

Of course I am exaggerating but you know, noone knows for sure.

so if it is possible to share your experience, please share it.

thanks

upd: sorry maybe it is more appropriate to speculation.

I Cashed out all my current BTC at $74.11 and I am a little sad that I sold seeing the prices at almost $90 today but I smell hyperinflation and a bubble bursting soon.... I called the housing bust in ~2005 and told my dad to sell, I also called the Google, IPO going nut, and the Apple downturn, and I do this with out looking at fancy charts, I use my Gut, and so far in my life its lead me well.... I PRAY I didnt cash out on Bitcoins, and this $86 is what we expect to be a cheap price for coins in the future.

Hyperinflation of the dollar yeah

[01BTC10]

So much misunderstanding in this thread, I don't know where to begin so I'm leaving.

[Rampion]

Bitcoin is way undervaluated. Probably we will have corrections and a lot of dips but it's natural for a such low market cap.

My recommendation is just look at it as a long term store of wealth and never sell/panic.

People saying this is a bubble are just plain wrong, they want you to panic sell so they can buy your "cheap" Bitcoins, all the bears on these forums want the same, they want your bitcoins so be aware.

Just buy and HOLD.

I think I have the right partner for my Avalon

I would add something: just invest what you can afford to loose. That way you will able to have a clear mind while btc/fiat fluctuates, and stick to your strategy. Mine is buy/mine and HOLD 50%/exchange 50% for goods and services to support btc economy. But I'd avoid whenever possible to exchange btc for fiat .

And I would not forget that Bitcoin is a smart and sound currency, and a very interesting bet - but a bet nonetheless.

Everyone knows that BTCs will be worth 100,000 or 1,000,000 each at some point... just a matter of time...

I would just split them and call BTC the current micro or nano BTC... just to make the process faster... psychologically, 1 coin cannot be worth millions, so SPLIT IT!

I have thought about it quite a lot and I think you are right.

Average person is not ready to pay 0,00047954 BTC for anything. Yet if it was 479,54 BTC I think everybody (non-techies) would understand it.
The split in a way of 1:1'000'000 would be reasonable.

Soon Bitcoin-QT my have uBTC by default, and newcomers may be trading fiat for uBT at MtGox

[alexeft]

Everyone knows that BTCs will be worth 100,000 or 1,000,000 each at some point... just a matter of time...

I would just split them and call BTC the current micro or nano BTC... just to make the process faster... psychologically, 1 coin cannot be worth millions, so SPLIT IT!

I have thought about it quite a lot and I think you are right.

Average person is not ready to pay 0,00047954 BTC for anything. Yet if it was 479,54 BTC I think everybody (non-techies) would understand it.
The split in a way of 1:1'000'000 would be reasonable. I don't think technical split is even necesarry (see below).

I think this is the only flaw (obviously non technical - it's only about voluntary consensus) this currency have. People are not mentally used to buy 10 USD thing as 0,114038088721633 BTC.

Same is with capacitors if anyone around here is into electronics - 1 Farad (one farad) is just way too much. take a look at this:


The biggest capacitor (on the left "Siemens") is "just" 5000uF (microFarad) - 5 mFarad (miliFarad) or 0,005 F (Farad) and as you can see it is quite a big capacitor - size vise.

---

I think (registering the current value of bitcoin at about 88 USD for 1 BTC) the most commonly used should be mBTC so the above mentioned 10 USD equal 114,038088721633 mBTC

True what you say, but there is no problem. The bitcoin-qt client allows translation to mBTC and uBTC at the choice of the user. No problem there.

[w00t]

True what you say, but there is no problem. The bitcoin-qt client allows translation to mBTC and uBTC at the choice of the user. No problem there.

Sure but what is default matters most. Can you imagine Windows pre-installed without Solitaire (as default)? It will be end of the Windows dominance! 

Seriously though, I think especially, the large exchanges (MtGox etc) should switch to mBTC as default.

[Rampion]

True what you say, but there is no problem. The bitcoin-qt client allows translation to mBTC and uBTC at the choice of the user. No problem there.

Sure but what is default matters most. Can you imagine Windows pre-installed without Solitaire (as default)? It will be end of the Windows dominance! 

Seriously though, I think especially, the large exchanges (MtGox etc) should switch to mBTC as default.

No worries. It will happen naturally soon enough.

[BitDreams]

I believe that retailers will begin to look at bitcoin as a big old pile of money and they will want to target it for sales. The hurdle is retailers must know they can quickly exchange those bitcoins for their local currency. It is a cycle that will feed on itself. The more debt free money is represented by bitcoins total market cap, the more retailers want some of it.

Problem with many of the retail sites looking to sell to bitcoin users right now is pricing in bitcoins. Nobody knows what a bitcoin is worth at the moment so why spend it if you believe it is undervalued? Price your stuff in the local currencies and show a conversion to bitcoin.

[BrightAnarchist]

In the long run? Very possible, but even giving the massive increase in user-base and lower block reward, I expect a correction. This is a classic bubble.

Almost textbook. And amazing how so few can see this.

[Evan]

In the long run? Very possible, but even giving the massive increase in user-base and lower block reward, I expect a correction. This is a classic bubble.

Almost textbook. And amazing how so few can see this.

I agree this is why i sold everything I had in BTC (except an emergency fund)

 I keep hoping to wake up and see a 20-35% crash