Re:China bans new Bitcoin deposits
by JumpCrisscross on Wednesday December 18, 2013 @04:13AM
(#6926580)
>I put everything I had available into BTC
Please don't do this. No matter how confident you are in your investment thesis it doesn't ever justify 100% allocation into a single asset - that implies infinite confidence.
Sorry to mislead with that statement. I meant, "Cash on hand." I still hold GOOG and TSLA, as well as physical assets, and 48.5% stake in a business with significant value.
I am only investing money I can afford to lose. I don't want to lose it, but I won't starve if I do.
Aside from your business your only securities are two individual shares - thats a bit risky in its self id maybe think about some IT's or ETF's before speculating in bitcoin
The sad thing is that the right time to invest is when things are looking bleak (and I think we may still have a ways to go down) but most people are drawn in when the price is high. So for those of you on the sidelines, I think we may have some good opportunities to get in during the coming months.
I'm longterm bullish on BTC, so a low price is an opportunity to buy, not a time to beat myself up for timing the market wrong. Of course, I could be wrong in my bullishness. It could all fall apart, or one of the other cryptocoins could prove to be "the one" (though I tend to think most are just also-rans and can and should be ignored). But, I'm absolutely confident a cryptocurrency, of some sort, is absolutely the future. It's one of those unstoppable forces, I think, and as long as the number of people preferring it to USD (or other fiat currencies) keeps rising, the real value (not the exchange value) of BTC is going to keep going up. I want as much of that future as I can afford.