A month or two ago, I spent $100 on Bitcoins. I figured this was an acceptable amount to 'gamble' like I was in Vegas. Might go up, might go down- but I found the risk to be acceptable for the amount.
If I was lucky enough to be in your situation I'd cash out my ~650usd and call it a day. I wouldn't feel remotely bad about it even if bitcoin kept going up. At this point it was a sound investment that paid out well.
I agree. I mined bitcoins for a few months early on (2010). I ended up with about 100 of them. I didn't transfer the wallet when I reformatted the drive a year later because I had completely forgotten about BTC.
My loss isn't $10,000, because there's no way I would have held on this long. Realistically, I probably would have sold them once they were 5 USD / BTC.
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all this volatility makes owning bitcoin feel like gambling.
A month or two ago, I spent $100 on Bitcoins. I figured this was an acceptable amount to 'gamble' like I was in Vegas. Might go up, might go down- but I found the risk to be acceptable for the amount.
If I was lucky enough to be in your situation I'd cash out my ~650usd and call it a day. I wouldn't feel remotely bad about it even if bitcoin kept going up. At this point it was a sound investment that paid out well.
I agree. I mined bitcoins for a few months early on (2010). I ended up with about 100 of them. I didn't transfer the wallet when I reformatted the drive a year later because I had completely forgotten about BTC.
My loss isn't $10,000, because there's no way I would have held on this long. Realistically, I probably would have sold them once they were 5 USD / BTC.
probably because most activity is currently speculation/hoarding rather than actual use.