Topic: Poll: Are you going to buy, sell or hold? (Read 1154 times)

It has nothing to do with that. I'm just not prepared to tie up significant capital in such a volatile medium of exchange. At a dollar each there is a much more limited down side than at fifty.

getting the fuck off of gox?

I spent my 1.5 bitcoins on a refurbished 160 gb playstation 3, off bitmit (I have something like .05 left, but most of them are spent). I'm decently happy with that purchase now though at the time I had made that purchase when it was at $141 and by the next day gained over 100 more..

I still plan on investing more once I get a job. We will see.

So basically, you don't understand economics/exchange rates/currency value at all?
1 bitcoin being equal to $1 has absolutely no bearing on its use as a currency. 1 USD is an arbitrary value. In 1900 one US dollar was worth many times what it is today. Why shouldn't a bitcoin be worth $10 or $45 $100, i.e. what a dollar may have been worth (adjusted for REAL INFLATION) in, say, 1850? Or why not $10,000? The idea of "one whole bitcoin" being equal to an arbitrary USD amount that "revans" is comfortable with is simply a psychological limit and has absolutely no effect on bitcoin's viability as a currency. Heck, in the Satoshi client, the bitcoin isn't even stored with a decimal point, it is simply a long string of integers and the client adds the decimal in so we can comprehend it. You might as well say that whatever million Satoshis should equal $1 but then you sound like even more of an idiot.
Please, understand the fundamentals of number theory and monetary exchange rates and real inflation before you place an arbitrary value on "what you think 'One Whole Bitcoin' (i.e. n million satoshis) should be worth before it is usable as a currency."
Heck, why $1 and not 1 Yen or 1 Peso or 1 Remnibi? Think before you say ridiculous things 

Why shouldn't 1 mBTC = $1 or 1 uBTC = 1 CND or 1 Satoshi = 1 shilling? WTF mate.

Spend

Won't be buying any above $1

I actually want to use bitcoin as a currency, not a get rich quick scheme.

If others sell and you sell, if you are the first to put in that sell, you will make money and the price will drop so you can buy in at a lower price.
If others buy and you buy, and you are the first to put in that buy, you will make money as the price will go up since others are buying.

Saying what you are doing makes perfect sense, as long as you inform others a couple of minutes after you place your own order.

Keep in mind the flaws of this poll:

1) It is in a bit coin forum so the population is heavily biased
2) The enormous motivation for the person that is going to sell to NOT post what is plans are in a public forum since that would just encourage others to sell, lowering the price and reducing his own profits.

That seems to be the case with me too. They seem to be continuously fluctuating between 90 and 99, so I've just been playing the volatility, at least when the site is up.

I ran out of fiat in the mid 100s -- so I have to decide if I should sell off as soon as Gox opens (in case I can buy back lower) or hold. Probably a combination

Well, I'm done with Gox, but I just got a buy order through on Bitfloor. Looks like they're up one minute and down the next, though.

Just added "i'm not sure"

The options don't cover a lot of cases.

I have already sold and have not yet decided whether to re-enter serious Bitcoin speculation -- apart from a few low catch-orders if something really crazy happens.

If this was a bubble top -- which it looks like -- we might get months of chaos and then more months of bust. I might be able to let the decision wait until later this year.

Definitely this.

i bought 1 @ 85  now This:

Holding for the long haul here.

If I had more $ that I could afford to gamble with I would buy as much as I could if it goes less than <$40 and stabilizes or starts to go up at all.

This.

Already have bids set up at 30,20,and 10 just incase lag kicks in.

This.

What are you doing when Gox re-opens?