I've had three friends pull their money out and walk away from bit coin over the past few days.
Well done market makers / manipulators!
Really? They didn't know going in that this happens? I am very careful to explain the risks and how these things work to my friends. Not one is less interested now than they were, which is to say most are quite sorry they didn't buy when I told them they should
Did your friends lose money?
He lost about 3-4K $... oh well
There was a lady who bought at $1000 posting on this forum who had to take out a loan on their house to buy her first BTC. Kept talking about her dad investing 3000 BTC and trying to convince her to make her first buy. I wonder what happened to her.
I'm still here
. Still reading... Still 'hodling'. I paid $1080 for each of my 11.1 bitcoins and have not sold - I rationalise this like so: bitcoin is only worth as much as someone is willing to pay for it right? And I refuse to sell them for less, which means they are still worth at least $1080 . Ergo, I have lost no money
. How's that for a comforting delusion?
That's not delusion, an unrealized loss is not a loss. I wish I had that strength-- if you continue your patience, you will be rewarded like so many else who have held. Hopefully, it's not rent money, and you don't need to touch it for several months or a year.
That's a great way of putting it. I'm definitely going to use that when one of my anti-Bitcoin friends throws the dropped price in my face -- "An unrealized loss is not a loss."
No, it's not rent money
. I tried to abide by the old adage; "Only invest what you can afford to lose." I see that one has been thrown around this forum a lot actually. Easier said than done though I suppose!
Glad that helped! Always nice to think through how we might reply to disparagers, even if they mean well.
Glad to hear you're not over invested, too. I see my investment as worthwhile given the risk/reward-- no longer do I fear going to jail for owning BTC
Also, it's interesting to see how you are hooked on the forum-- I read as many of the pages here as I can, too! Unfortunately, I'm coming to realize that since everyone is invested/trading on different timeframes (day, swing, etc.) and has different goals[qed, one man's sell should be another's buy, so more noise than signal], it's more of just a community chat (and preferable to the troll box at btc-e IMO), and the best I can do is learn from the random bits of great wisdom from so many of the more experienced people here.
Also, the news comes here fairly quickly-- it's rare I miss something in the btc biosphere when I'm uploaded to the Wall. Cheers!
