Your advice?

[CynosureEPR]

Hey there,

I use bitcoins for online purchases.

I ended up winning a bit of money with that extreme rise and was able to make a few extra purchases.  When the market was crashing, I went to place another order and ended up getting $500 worth of coins at $107.  I'm usually able to make my purchases instantly and didn't figure these would gain/lose value in that time.

However, the website went down and I was unable to make my purchases.  Now the damn things are at $60 and dropping.  The site still isn't up so I am unable to make my purchase.

Do you guys think I should go ahead and sell them at $60 and just buy again when the site is back up in order to keep myself from losing my whole $500?  Or should I just hang onto them and pray? lol

I'm not a stock person or an investor.  I'm not looking to gain from this, I just don't want to lose the money I had saved to make purchases.

Many thanks,

 Shocked

[OdinHephaestus]

Hey there,

I use bitcoins for online purchases.

I ended up winning a bit of money with that extreme rise and was able to make a few extra purchases.  When the market was crashing, I went to place another order and ended up getting $500 worth of coins at $107.  I'm usually able to make my purchases instantly and didn't figure these would gain/lose value in that time.

However, the website went down and I was unable to make my purchases.  Now the damn things are at $60 and dropping.  The site still isn't up so I am unable to make my purchase.

Do you guys think I should go ahead and sell them at $60 and just buy again when the site is back up in order to keep myself from losing my whole $500?  Or should I just hang onto them and pray? lol

I'm not a stock person or an investor.  I'm not looking to gain from this, I just don't want to lose the money I had saved to make purchases.

Many thanks,

 

Hold on to them mate;  if you don't need cash now, they will rise in price again.

[CynosureEPR]

Okay, thanks.

I'll hold onto them and throw new money in to make said purchases.

[vitaetilly]

I would hold onto them. They're at a low price already, so it isn't like you'd be losing much if they continued to drop. Chances are the value will rise soon.

[OdinHephaestus]

Okay, thanks.

The coin I just flipped said I can put my trust in you. 

Haha.  Seriously though, I'll hold onto them.

I appreciate it.

I'm glad the universe thinks im trustworthy lol 

[termhn]

Yeah I'd hold onto them as well. My money (nonexistent) says they'll climb back up above or near 100 again pretty quickly.

[dozerz]

hold on until the price stabilises.

[kwafan]

Does anyone have any inkling as to why prices dropped so low?

[PeZ]

Does anyone have any inkling as to why prices dropped so low?

People wanted to convert their riches...

http://www.forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/

[kwafan]

That's an interesting read, thanks PeZ!

[Qdentica]

Yes - be patient, the market is way to volatile currently.

[IntraDayer]

Does anyone have any inkling as to why prices dropped so low?

People wanted to convert their riches...

http://www.forbes.com/sites/timothylee/2013/04/11/an-illustrated-history-of-bitcoin-crashes/

Very nice article indeed..

[CynosureEPR]

Blegh.

You were all correct in stating that it would rise back up.. that said, bitfloor closed down yesterday (meaning I couldn't cash out), then Blockchain was down forever (meaning my coins couldn't transfer from bitfloor to campbx), and now campbx is down.

Let me cash out please. LOL. 

The website I make purchases from is on hold for a while and I don't enjoy the emotional turmoil of this market crap.  Money doesn't come easy for a college student.

[ctlegacy]

Blegh.

You were all correct in stating that it would rise back up.. that said, bitfloor closed down yesterday (meaning I couldn't cash out), then Blockchain was down forever (meaning my coins couldn't transfer from bitfloor to campbx), and now campbx is down.

Let me cash out please. LOL. 

The website I make purchases from is on hold for a while and I don't enjoy the emotional turmoil of this market crap.  Money doesn't come easy for a college student.

yes it seems we are in desperate need of a trustworthy and stable exchange site. You could just transfer them back to your wallet for the time being? then find a solid site and cash out there

[CynosureEPR]

As far as I can tell, CampBX is the only US-based cash out exchange these days. 

It's seeming I need to get back into coding and plop up my own exchange site.  I'd make a killing.

[MikeGg]

BTC is a casino, but you knew that when you bought them didn't you...
I also wonder which store was it whcih accepts btc?

[Cryptorig]

Hold onto the coins atleast till they hit $100 $200. More and more stores are accepting btc now. It's actually pretty easy to sign up with a company like bitpay so they never even have to handle bitcoins if they don't want to. They will be taking them in the self serve checkout lane at the supermarket in no time  

edit: tired, meant 200, give it a few weeks 

[nwfella]

absolutely hold onto as many as possible...suspect this rapid price rise then proverbial bubble bursting will happen multiple times...with overall general upward trend for quite sometime...imo

-nwfella