Yeah, I also sold all bitcoins today (all 1318) and set buy order at $27. See you soon, suckers
How do you sell that amount at once? At a price of $160, selling 1300 BTC would net $208,000 before any fees are taken out. A big fear of mine with BTC is the fact that even though they have FLOWN to new heights, it doesn't seem feasible to cash them out. Everyone is rich now who was an early adapter but it's all on paper and there aren't many respectable ways to spend the BTCs.
Here's a question for anyone willing to respond:
"How can anyone be secure in BTC when it's unregulated?"
For instance, they aren't backed by anything of real value. They aren't widely accepted. They are a direct competitor of the USD and other worldwide currencies controlled by governments. How are BTC safe from attacks from said governments, or even from hackers? What if the American banks/government have been buying up any BTC they can, driving the price up? What will prevent them from dumping after they pump it all up? How are BTC able to avoid the manipulation that every other currency/stock/fund/commodity is vulnerable to when the "big boys" want something to happen in their favor?
How will BTC be able to grow as a currency when the price flucuates WILDLY on a regular basis?
