Welcome to Thunderdome

So... BTC $350. LTC $3.73

Even litecoins are exploding. $4 last week, $8 today.

- Me, 11/18/2013

Though... I think when Bitcoin reaches $800 there will be a big jump to $1,000. Then maybe $1,200 as news gets out.
Then pop!

- Paul, 11/18/2013

This is all tulips, man. With stocks there's at least some underlying cashflow (future, past, present) to discount/value, etc... This is just random ass shit.

But it's kinda fun.

- Me, 11/18/2013

I'm not saying BTC $40k!@!!11! like some people... but I see a definite future in it.

- Me, 11/22/2013

$1000!

- Paul, 11/27/2013

Yup! Now the hard part, actually getting the cash out of MtGox since their Dwolla account was frozen by the feds.

- TPR, 12/2/2013

Mining litecoins seems simpler... Of course, they are only worth $40 each, so the scale is different.

- Me, 12/4/2013

Bubble goes burst

- 12/18/2013

LTC is now down to $14.15.

2/20/14

But I don't intend to sell any until they go back up to $1000.

- TPR, 2/20

Well, I wouldn't go that far. :p

The fact that I picked them up for $20 is the only reason I'm willing to keep waiting to see what happens long-term.

EDIT: The main problem is that there's a constant selling pressure from retailers that accept and then immediately convert to cash. But there's not yet enough constant buy pressure to counter it. So the general trend will be downwards until there's a spike in public interest to make it peak again and start the next downward slide.



Edited By TPRJones on 1413052626

I'll probably sell 0.5 near the end of the year and take the loss just to offset some of my stock profits this year. But otherwise I'mma keep holding on.

EDIT: To clarify, my original purchase was at $2 each. But back when they were jumping around $1,000 I did some day trading on them so my new cost point is officially $912 each. And I had to pay taxes on that back then. Even if they never do go back up I've still made my money's worth in future write-offs of stock investment income.



Edited By TPRJones on 1415920270

Now I know what a "Bitcoin" is. Hmm... (warning, explicit lyrics)

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Edited By Stranger on 1418319545

Mid 600's...

The Chinese are buying them up to get out of the yuan. The yuan is a mess right now.

Too bad I only have one.

I have no idea where it might peak. Could start back down to $300 in the next 10 minutes. Could keep drifting up to $2000. Completely unpredictable.

I just sell one every December for tax purposes and call it a day (I'll run out in 2020). Can't agonize over lost potential revenue if you pay no attention to what that lost potential revenue was.

Dude, if it hits $1K, I'd sell like a mofo. Maybe keep a small handful.

It did back in 2013. That's why I only have five left now.

Eh, I might let go of half, then. I'm a bit of an archivist, though.