4 ms·

You know what they say about poor decisions. They're made every day.

dfc 13y ago
Full context, in a recent post jared admits/confesses: I "invested" $1,000 in BTC during the early hype as it was approaching $32.00. I told my co-workers how cool of a concept it was and that my investment was sure to pay off with a skyrocketing price. After months and months the price drops and drops. My $1,000 is worth $200. I go through a ridiculously long process of proving my identity to Mt. Gox and Dwolla just to get real USD back at 1/5 their original value. Now if only I had kept it in there for the long haul, I'd have my $1,000 back. It's precisely this volatility that personally makes me skeptical of it truly reaching a critical mass of any sort. [1] https://news.ycombinator.com/item?id=5262486 https://news.ycombinator.com/item?id=5262486
- sillysaurus 13y ago
  Now if only I had kept it in there for the long haul, I'd have my $1,000 back. He would in fact have about $3,000 today (just 2 months after his comment). Of course, yesterday he would've had $2,000, and a week or so ago he would've had about $8,000. It'll be interesting to see how Bitcoin plays out.
  - ams6110 13y ago
    This is the classic "buy high, sell low" pattern seen when investors get into a volatile market with a lot of hype. If you can't afford to lose it or at least let it ride, put your money in CDs.
tiredofcareer 13y ago
What a tremendously helpful comment. Do you have anything to contribute, instead of just poking the poster?
- gfodor 13y ago
  Actually if his comment causes the poster to reflect on the fact that perhaps this was a mistake in the first place and a lesson to be learned, the poster and anyone reading this thread might be better off.
- ninjac0der 13y ago
  I don't see any reason his comment should be down-voted, the others just sound emotional and butthurt about the situation. Sorry you guys are so torn about this stuff, but if anything is useless, it's this meta-conversation about his comment.

dfc 13y ago

Full context, in a recent post jared admits/confesses: I "invested" $1,000 in BTC during the early hype as it was approaching $32.00. I told my co-workers how cool of a concept it was and that my investment was sure to pay off with a skyrocketing price. After months and months the price drops and drops. My $1,000 is worth $200. I go through a ridiculously long process of proving my identity to Mt. Gox and Dwolla just to get real USD back at 1/5 their original value. Now if only I had kept it in there for the long haul, I'd have my $1,000 back. It's precisely this volatility that personally makes me skeptical of it truly reaching a critical mass of any sort. [1] https://news.ycombinator.com/item?id=5262486 https://news.ycombinator.com/item?id=5262486

sillysaurus 13y ago
Now if only I had kept it in there for the long haul, I'd have my $1,000 back. He would in fact have about $3,000 today (just 2 months after his comment). Of course, yesterday he would've had $2,000, and a week or so ago he would've had about $8,000. It'll be interesting to see how Bitcoin plays out.
- ams6110 13y ago
  This is the classic "buy high, sell low" pattern seen when investors get into a volatile market with a lot of hype. If you can't afford to lose it or at least let it ride, put your money in CDs.

tiredofcareer 13y ago

What a tremendously helpful comment. Do you have anything to contribute, instead of just poking the poster?

gfodor 13y ago
Actually if his comment causes the poster to reflect on the fact that perhaps this was a mistake in the first place and a lesson to be learned, the poster and anyone reading this thread might be better off.
ninjac0der 13y ago
I don't see any reason his comment should be down-voted, the others just sound emotional and butthurt about the situation. Sorry you guys are so torn about this stuff, but if anything is useless, it's this meta-conversation about his comment.