Backstory: I originally purchased BTC for use on a certain marketplace that only accepts BTC (don't ask). However, my MtGox account is currently going through verification and my BTC are stuck in purgatory.
So here's my dilemma: if the current trend continues, I could theoretically triple my initial investment by the time I'm able to withdraw my BTC.
As I see it, I have four options once i get access to my BTC:
1) Sell my BTC and hope/wait for the exchange rate per USD to come down to double digits (downside being that there's no way of knowing if it will ever come down that low).
2) Use my BTC to fund my account at the marketplace and buy up as much as I can while my BTC is worth this much.
3) Exchange my BTC for LTC and hope that in a few years LTC goes up high enough that I can sell my LTC and live out the rest of my days in a corrupt third-world country in relative comfort.
4) Sell BTC, take my USD, and run.
For full disclosure, I only have just over 1.5 BTC at MtGox (I'm poor
)
Advice? Thoughts? Verbal abuse? All are appreciated (that last one not so much
)
So here's my dilemma: if the current trend continues, I could theoretically triple my initial investment by the time I'm able to withdraw my BTC.
As I see it, I have four options once i get access to my BTC:
1) Sell my BTC and hope/wait for the exchange rate per USD to come down to double digits (downside being that there's no way of knowing if it will ever come down that low).
2) Use my BTC to fund my account at the marketplace and buy up as much as I can while my BTC is worth this much.
3) Exchange my BTC for LTC and hope that in a few years LTC goes up high enough that I can sell my LTC and live out the rest of my days in a corrupt third-world country in relative comfort.
4) Sell BTC, take my USD, and run.
For full disclosure, I only have just over 1.5 BTC at MtGox (I'm poor
)Advice? Thoughts? Verbal abuse? All are appreciated (that last one not so much
)