These past few days have been rough on Bitcoin, no doubt. Last night the price hit a low of like $530 or $570/btc or somewhere in that range. I invested at $790/btc, so needless to say I got a little worried. When this whole Mt. Gox fallout started, I decided to take half of my investment in btc and move that into Dogecoin. I heard alot of good things about Doge, and thought it'd be a smart move. As it turns out, I was right... at least so far anyways. Doge has been doing very well these past few days while btc has been plummeting. The two could probably be because of one another, but who knows for sure.
Well, three days after I cut my investment in half I decided to sell the last of my btc. The price of btc didn't really improve and I see real potential in Doge. I've already made quite a bit of money just holding. I've got Doge on Cryptsy for now, but I opened an account at Vault of Satoshi today (
https://www.vaultofsatoshi.com/home). I like VOS for a couple reasons:
A. Because it seems incredibly secure. As of now I haven't heard of any big security concerns regarding the website. The website might actually be a little too secure. In order to link your bank account you have to send a picture of your driver's license and 1 proof of residence. And let me tell you that shit better be crystal clear or your ass is gettin denied. Anyways, I sent them a picture of the speeding ticket I got in the mail the other day. Assholes.
B. The main reason is because you can convert Doge and 6 or 7 other altcoins directly to USD. No more going through Bitcoin during all of it's drama, although you can buy bitcoin with it too.
C. The site is really well made. Very organized, easy to check your balances and how they're doing.
So once my order on Coinbase to sell off the rest of bitcoin is done, I'm gonna close my Coinbase account. I'll keep my Cryptsy account just because they have more Altcoins, and I might one buy some other one sometime.
Any suggestions or opinions on if you think Bitcoin will come back? If so, when?
And any suggestions for me?
Have a nice day guys
No offence but are we talking to a teenager who is holding less than 5 BTC and wasting our energy and time to explain that maybe Dogecoins isn't a long term serious safe haven investment? I have to pinch myself sometimes.
