Quote from: xavier on April 12, 2014, 08:26:07 AM

Yup I agree with OP 100%.

Hold is not the best strategy.

Bitcoin is a religion for many, that's why it has further to go down.

Right now, bitcoin is pure speculation. It is not backed by anything. The value of bitcoin is based on speculation about the future financial system.

The changes to the world required for bitcoin to attain significant value are huge. That's what makes it a particularly high risk investment.

There is nothing religious about bitcoin. It is a high risk investment just like any other. Would you continue to hold a stock that has depreciated 60% from ATH ?

Whilst these "HODL" People are spreading their bullshit here, and whilst the religious nature of bitcoin still prevails, the bear market lives on.

So, tell us then... what exactly, is gold backed by?