r/Bitcoin•
Taek42

Just bought 12 Bitcoins

It's not a huge amount, but it's pretty substantial to me. If I lose even half of it I'll be sad, but it's money I can afford to lose.

But the bigger thing is that I've regained confidence in Bitcoin. I think that $520 is the lowest it's going to go for a long time, and I feel like I'm taking advantage of an awkward market slump while everyone tries to figure out if the Bitcoin train is going to start moving again.

Have you seen the news? Nothing indicates that it's time to get out of Bitcoin, in fact quite the opposite. Bitcoin's doing extremely well as a product and technology, and the price is not reflecting that.

And that means there's opportunity. Come September, I'm betting we're all going to be watching the Bitcoin rocket blast off for it's third round of buckle-up-fun. And just like I rode the last price rise (on at $120, of at $660 [before the crash, not during]), I'm looking forward to riding this one as well. I think $2000 as a peak is pessimistic.

Posted Aug 15, 2014, 3:13 AM UTC

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