and i also just logged into Cryptsy and looked at my saved alts and like the last 24 hrs i checked they are down again
i had 1.05 BTC worth i mostly bought about 2 weeks ago and its at 0.69 now while the coins i mine and add seem to make no difference ..down down down down down we go
I'm down a fair bit myself, but I'm not sweating it. Trying to pick the precise bottom is a fool's errand, anyway.
But it does have an effect on the nerves. If you buy in thinking you've hit the bottom only to see the thing fall further, it primes you to "relief sell" when it recovers instead of riding it all the way back up. Lots of people have relief-sold themselves out of huge long-term gains simply because they're edgy from the dark times. I've done so myself with one stock I'll never forget
That's why I don't really regret not having bought Bitcoin back in July of 2011 when it was $13. Given my inclinations - my limitations, really - I would have rode it all the way down to $2 and cashed out when it rallied up to $20.
That's just part of human nature: it even explains why cults form around highly speculative vehicles. You have to be a bit "culty-minded" to hold on for the long term when your reflexes tell you that a bird in the hand is worth X in the bush.
