Quote from: SlipperySlope on April 08, 2014, 03:54:21 AM

Quote from: billyjoeallen on April 08, 2014, 03:43:44 AM

Fuck no! I sold almost all the BTC in my trading account to buy back lower. It's a hedge for me because the vast majority of my holdings are in cold storage. It's like buying life insurance. I'm making a bet I hope I lose. I will seriously consider selling other assets only if the price gets stupid low.

In the collapse of the April 2013 bubble I felt strongly that the retracement would be deeper than it turned out to be, based upon the notion that the April 2013 bubble would be similar in shape to the great 2011 bubble. I felt very bad having fiat in my trading account when prices went up and I had to buy back higher. I resolved to never make that mistake again. Which made me pull all coin out of MtGox well in advance of their subsequent troubles.

Better to be in bitcoin and watch prices go down, than to be in cash and watch prices go up - my experience.

Yes, Mark Twain told a story about a cat that got burned when it walked on a hot stove. After that, the cat would never walk on the stove even if it was cold. The point is that sometimes we overlearn our lesson. It remains to be seen which one of us has done that.

There is a real albeit improbable risk that this could be more like 2011 than 2013.