Disclosure: I adjusted a little bit down this week. Wanted one of my companies to buy more silver. If anyone is seeking to buy about 500 BTC for a price higher than in Bitstamp, drop me a line. Otherwise I will just dump them.
This is the first serious throw-in-the-towel sentiment from you. Silver might tick up $10 over the next year while BTC could be anywhere up to 4 digits. Puzzling.
I sincerely believe that most holders of bitcoins have done exactly as I (among others) has advocated: only invest a modest sum, and fully prepared to ride it to the oblivion if need be. My own bitcoin holdings are already up more than 1000% and I am not selling until the proceeds will give a sizable boost to my economy. Most people are not inclined to sell at a loss, even to their own detriment. On the contrary, there is a weird willingness to wait for years until an investment breaks even in fiat terms and then sell, once it has finally started to perform.
Hah, perhaps the selling of 500 BTC will now give a sizable boost to my economy, then
These profits will not actually go to personal consumption, rather I will stock up on silver that is now really cheap. Late March I sold a lot of silver and bought BTC at 70-80. Now not only is BTC up +50%, also silver is down. Reversing this trade in its entirety (which I haven't yet done or even plan to do) would net me about 4000 ounces of silver, and still leave a good chunk of BTC. It is hard to conduct silver business without merchandise.
Buffett says that it is profitable to diversify, if you don't know what to do. Perhaps I don't...
