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Author Topic: Should i pull out of BTC securities?  (Read 1316 times)
Capitalism Prevails (OP)
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September 28, 2013, 07:37:36 AM
Last edit: September 28, 2013, 08:03:39 AM by Capitalism Prevails
 #1

I decided to allocate a little less than a third of my BTC to invest in BTC equities.  I spread my risk across BTCT, BitFunder, Havelock, and CoinBr.  BTCT got shut down and i took a huge hit there.  MPEx was hacked recently and they say all the funds are safe so we'll see.  I certainly don't have as much peace of mind keeping funds there.  Then the Active Mining sell off happened. My positions have also been depreciated due to BTC deflation.  Is it a fools errand to be doing this?  Should i just cut my losses and consider my BTC as shares of the Bitcoin corporation with a current market cap of 1 billion?  

Should i wait until colored coins becomes real?  If colored coins ever does happen, how would it address exchange problems like BTCT shutting down or CoinBr being hacked?  My rudimentary understanding is that a colored coins could be stored on self hosted wallet like regular BTC but without the regular fungibility.  Is this true?  If so, all problems should be solved except for the deflation problem.  If a BTC is reclassified as a colored coin, would it contribute to more deflation because of a smaller supply of regular BTC?

BTC:  1KX3MSyeHoubjvRMvkc4DXBXvEx9fr9cvV                              Strength In Numbers
LTC:  LaGawfU1ZJu33Lj6CX6NJ5WXWsfjPbLLLW                          In Cryptography We Trust
NMC:  N5EUwGbCNF1AYmZqNu9J7aYJVKxqbJoJG8          Cut Off One Node, Two More Will Take Its Place
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September 28, 2013, 08:02:37 AM
 #2

Stuff that. Keep coins yourself, in your own wallet.


drawingthesun
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September 28, 2013, 08:04:46 AM
 #3

In this climate sell everything that isn't actual bitcoins.
lavalampoon
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September 28, 2013, 10:14:17 AM
 #4

The risk is in investing your BTC in a business that you don't control. Use your BTC to start your own business related to bitcoin. Provide a solution. Satoshi showed how to implement a decentralized currency that can be used to limit organized theft. The need now is for a decentralized exchange. I'd hope that the closure of BTCT.co would inspire a dozen projects to address that problem.

SebastianJu
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September 28, 2013, 01:30:19 PM
 #5

I invested in a chunk of securities too and lost not a small amount because of the panic of the last days. But i think its stupid how people behave at the moment. A lack of information and trouble with bringing up hashpower leads to crashing stocks? As if it wouldnt be a normal thing for mining companies.
I checked out the persons behind again, wrote with others that know them and i did not get the impression of scams. In fact i buy in for cheap now since im not interested in the shareprice but in the divs later.
Of course there is a risk involved but i will rate the things with clean mind. And i think people are exaggerating momentarely. In my opinion... if at least a part of the securities succeed it doesnt matter much when others fail 100%. Of course that only applies to a couple of securities.
I think you should reconsider the securities you own. Do you have the impression they are honest or not, does it look like they can do what they want or not. Depending on that sell or keep. And if you lost already most of the bitcoins anyway i would tend more to keeping then anyway. It doesnt make much sense to go out with a small amount of bitcoins. Instead i would see these bitcoins as a bid in a gamble if this security succeeds. The decision is between having a small rest in the pocket or taking the risk to lose the rest with the chance to get your spent money, maybe more, back.
Its a gamble of some kind anyway. But its better than a gamble since you can check out the chances before.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
twentyseventy
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September 28, 2013, 01:44:10 PM
 #6

Not necessarily, but stop investing in everything without trying to understand what it is - people have been telling you that since http://www.reddit.com/r/BitcoinStocks/comments/1m38ju/am_i_missing_any_btc_stocks_in_my_portfolios/

Thank you. This guy has been all over the place recently soliciting advice - time to make up your own mind, man.
Namworld
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September 28, 2013, 03:59:42 PM
 #7

I've had good results trading. But you have to keep track of what you're trading and be careful. Plenty of landmines out there.
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September 30, 2013, 01:14:39 AM
 #8

It's best just to wait until the market calms down a bit and only invest in trusted sellers who have high reputation.

Oct 17, 2013 - 2.44 BTC
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