I only ask this because I would say a fair portion of the community it seems have risked or are going to risk a large portion of their life savings and what not based on speculation that this coin will do well. Do people actually take these gigantic risks and how? I mean in the past week alone the price has tumbled from $600+, maybe even quicker than that. I just don't understand, I'm not much of a risk taker myself because I don't have the capitol or equity or whatever to put into it. Is there something I'm missing? Maybe I should read up about stocks and trading and what not.
if you consider it a risk. dont do it. instead only put half of what you consider as risky into bitcoin. that way you have automatically halved your risk.
if you cant afford 2 golden eggs then dont put all your eggs into one basket when your eventually ready to buy the eggs.
if you get a monthly salary, do not put the whole income into bitcoin. as you do not know how long a price will stay flat (like the february-may $450) instead each month put in what you would describe as the total bill of a night out getting drunk, buying a meal and getting a taxi home.
basically 'disposible income', (money that you will never see again) that way you do not become emotionally attached to it to make silly desicions. examples of stupid decisions
1)buying 1btc at $1000, selling at $450 because you got scared it would go to zero. then waiting until $650 to buy back in and selling again at $560. (mathematically leaving you $391) all due to emotional attachment of not wanting to lose it all.
2) buying at $1000 and selling ALL at $450 leaving no btc spare to reap any benefits of the eventual rise. and costing you more to buy back in once it did rise, meaning your left with 0.7btc because you bought back in at $650
3)buying at $1000 and then selling at $450 because december-may was too long and you really needed the money
unless you understand day trading to grow your holdings.. dont be worrying about changes, dont be trying to buy and sell based on emotional attachment of what that holdings can or could have bought you. if your emotional about trading, you should not trade.