4 ms·

As someone who witnessed the dot-com boom, I always tell the kids nowadays: sell. sell it all. now.

by snorkel 13y ago

base698 13y ago
In the past three years the same thing was said at $33 and $266. Whenever new global interest arises it goes even higher. While I agree there is a ceiling I can't really imagine what it will be in a truly global market.
JabavuAdams 13y ago
As someone who sold shares for $8 that I got through my employer at $2.50, I always tell the kids nowadays: I should have waited until it hit $80. There are no easy answers.
- snorkel 13y ago
  A bird in the hand is better than two in the bush. Don't get greedy, just take the profit and be thankful for it.
oleganza 13y ago
Sell into what? Both dotcom shares and USD are promise-papers. Bitcoin is the only money in the entire world that you can truly own. Even gold you can't own completely. At some amount you have to put it in vault and hire people to guard it. But you can put millions of Bitcoins in your brainwallet. I elaborated on this recently: http://blog.oleganza.com/post/67362431718/you-can-own-bitcoin-you-cant-own-your-dollars http://blog.oleganza.com/post/67362431718/you-can-own-bitcoi...
- snorkel 13y ago
  The price of anything, especially Bitcoins, is driven by demand, greed, speculation, and irrational market behaviors. It's people running the price up, not math and science, but people. At this moment those people will be become either winners or suckers. The suckers will be the ones who believed the math of Bitcoin makes it magically valuable just as those who believed that Pets.com had a bright future.
1337biz 13y ago
I'd say, only sell if you need the money. Otherwise see it as a lottery ticket. Or at least keep some that you can afford to loose for the long gamble.
- snorkel 13y ago
  If you're holding a winning ticket then cash it in before it blows away. Don't let greed and past peaks cloud your judgement. Sell now before the sell off frenzy starts.
arcadeparade 13y ago
As someone who bought a single Bitcoin at $20, I think I'll hold on and enjoy the ride :)
drcode 13y ago
HAHAHA that's what everyone said when it hit $20. (Not that it might not be a good time to sell, but please sell for other reasons that snorkel's advice.)
terhechte 13y ago
I sold some of my bitcoins when it hit $300, just enough so that I paid for my previous investments (i.e. when I bought them at $8 and $70). Now it is basically a free ride for me. If they crash to 0, I haven't won anything, but neither have I lost anything. So I'll continue to hold on to them for now.
TomGullen 13y ago
Bitcoin has a total dollar value of ~$11bn, Twitter has a market cap of ~$20bn. Where would you rather put your speculative money?

As someone who witnessed the dot-com boom, I always tell the kids nowadays: sell. sell it all. now.

by snorkel 13y ago

As someone who witnessed the dot-com boom, I always tell the kids nowadays: sell. sell it all. now.

In the past three years the same thing was said at $33 and $266. Whenever new global interest arises it goes even higher. While I agree there is a ceiling I can't really imagine what it will be in a truly global market.

JabavuAdams 13y ago

As someone who sold shares for $8 that I got through my employer at $2.50, I always tell the kids nowadays: I should have waited until it hit $80. There are no easy answers.

snorkel 13y ago
A bird in the hand is better than two in the bush. Don't get greedy, just take the profit and be thankful for it.

oleganza 13y ago

Sell into what? Both dotcom shares and USD are promise-papers. Bitcoin is the only money in the entire world that you can truly own. Even gold you can't own completely. At some amount you have to put it in vault and hire people to guard it. But you can put millions of Bitcoins in your brainwallet. I elaborated on this recently: http://blog.oleganza.com/post/67362431718/you-can-own-bitcoin-you-cant-own-your-dollars http://blog.oleganza.com/post/67362431718/you-can-own-bitcoi...

snorkel 13y ago
The price of anything, especially Bitcoins, is driven by demand, greed, speculation, and irrational market behaviors. It's people running the price up, not math and science, but people. At this moment those people will be become either winners or suckers. The suckers will be the ones who believed the math of Bitcoin makes it magically valuable just as those who believed that Pets.com had a bright future.

1337biz 13y ago

I'd say, only sell if you need the money. Otherwise see it as a lottery ticket. Or at least keep some that you can afford to loose for the long gamble.

snorkel 13y ago
If you're holding a winning ticket then cash it in before it blows away. Don't let greed and past peaks cloud your judgement. Sell now before the sell off frenzy starts.

arcadeparade 13y ago

As someone who bought a single Bitcoin at $20, I think I'll hold on and enjoy the ride :)

drcode 13y ago

HAHAHA that's what everyone said when it hit $20. (Not that it might not be a good time to sell, but please sell for other reasons that snorkel's advice.)

terhechte 13y ago

I sold some of my bitcoins when it hit $300, just enough so that I paid for my previous investments (i.e. when I bought them at $8 and $70). Now it is basically a free ride for me. If they crash to 0, I haven't won anything, but neither have I lost anything. So I'll continue to hold on to them for now.

TomGullen 13y ago

Bitcoin has a total dollar value of ~$11bn, Twitter has a market cap of ~$20bn. Where would you rather put your speculative money?