| Sunny Day |
06-21-2011 11:57 PM |
MTGOX site still down after 2 day
Still wonder, if I bought at $.80 could have sold out at a high point or waited too long in the game of hot potato? A smart move might have been buy a 1000 Bitcoins at $.80, sell 1/2 @ $5.00, then 1/2 (1/4 the original purchase), @ $10. Then remaining coins @ $15. But markets don't usually rush up like this, without few "corrections." About a $7,000 profit after fees.
But you might spend time reading Confusions and Delusions: Tulipmania, the South Sea Bubble and the Madness of Crowds and a few hundred books written since then about scams and overhyped markets. Tupliamania made many rich, but they kept reinvesting, only to lose it all,when the tulip bubble burst. One of the few winners of Tupliamania, was a hunchback who, for a few Guilders, let people, buying & selling tulips to use his back, as a desk for the signing of the bill of sale.
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