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In 2010 I chose an amount of money that I wouldn't feel too stupid about spending on a silly web lark. That was $30, and the price was $1. It took me a week to
by richardw 13y ago
In 2010 I chose an amount of money that I wouldn't feel too stupid about spending on a silly web lark. That was $30, and the price was $1. It took me a week to get them, during which the price hit $4, so I got 7. It's quite possible (/likely?) it goes to 0 at some point but I still think of it as a $30 option with an uncapped upside.
And that's the point - the exchange rate has no underlying fundamental except supply is limited and demand is unpredictable. If you're unsure whether you should get some, choose a figure you don't care about and just buy some tiny amount. You might get 0.01 btc but you won't care if it goes down and you will if it goes up.
Admittedly I'm not sure I'd follow my own advice because the price always seems insane. $280? Madness. But much easier than getting emotionally invested in the whole mining route, which for the majority is destined to fail since you have to be on the leading edge of performance to make anything.
If I were to do it now I'd probably buy a tiny amount now and a bit more if it drops a lot. No amount I'd care about.
I've tucked mine away, took it off mtgox ages ago and no wallet on my computer. Don't care if it hits 0, it was only $30 anyway. It's either a new thing or a bubble, but this feels less stupid than a lottery ticket.