Even though I have BTC, I was hoping that this would drop even more. The BTC I have I am holding for the long-term. Unfortunately just before I tried to buy, coinbase froze their buys for the rest of the day. My plan was to buy today, and sell tomorrow. -It's already recovered quite a bit. :/ I don't think today was a crisis of confidence. I think it was manipulation of the exchanges. It's madness. I don't believe anyone that has a strong opinion on bitcoin. There's no satisfactory analogy, IMHO.
mk! Dont buy BTC. It's fool gold.
Try to sell what you have around 150 if it reach those value again. Else sell it once it goes under 80, and never think of it again. plenty of analogy: http://www.slate.com/articles/news_and_politics/view_from_chicago/2013/04/bitcoin_is_a_ponzi_scheme_the_internet_currency_will_collapse.html It could have worked as a nice exchange alternative if you could not buy or sell it for money.
(As you can always buy or sell something for money, decentralized solid exchange currency is nothing but a dream)
:) No worries. I already cashed my intial USD investment out, so the BTC I have is risk-free. But, I don't buy the "bitcoin will be worthless because it's not a currency" arguments. I don't think bitcoin is a currency. I think it has some characteristics of currency, but not all, and it has some others too. One thing I like about bitcoin is how much disagreement there is about it. That's what makes it very interesting to me. As for my own investment in it, I'd never put money that I needed or cared about in something that is so difficult to define and understand.