[Tichy]

It doesn't feel like a depression when it was preceded by an incredible rally. One month ago I sold my first BitCoins for 2.7€. Four days ago I sold some for 20€. When I got into mining, I thought even 1€ was incredibly high. Who cares if they went down from 20€ a little - the exchange rate is still incredible.

I think 30$ was simply a very attractive exchange rate, so a lot of people decided to sell. That's all there is to it.

Though I have to say it is fun to experience this with BitCoins. There certainly was a feeling of "damn it, sell now or wait for even higher prices???". But as far as I am concerned, it is still more like a game, so I am not depressed if I lose out on the highest prices.

[palish]

I sold my 5 BTC at $30/coin, and walked with $149.96 after fees. It certainly felt like a bubble, and I'm glad I got out when I did, even if it was only for spare change in the scheme of things.

[Tichy]

Yes, it felt like a bubble. Then again, I don't really know. You never really know with investing, I suppose. It felt like a bubble when I sold for 7€, and now with hindsight 7€ was very low...

Maybe lots of people started buying drugs with BTC and hence demand went up, or whatever.

I am also happy about the money I made. But I am not chiding myself for not selling more BTC at the peak. Maybe if they dropped to zero value I'd be a bit remorseful :-)

[palish]

Heh. How many BTC do you have?

[Tichy]

I have about 350 left - bought a miner in March...

I guess another reason why I don't feel depressed is that I always meant to keep some of them as a long term investment. Just curious to see what happens when supply of new BitCoins starts to slow down. Of course I am not the only one thinking like that, so there are a lot of BitCoins out of circulation atm.

[palish]

Which miner did you buy? And how much did you pay for her?

[Tichy]

I bought an Acer gaming PC off ebay with an ATI HD5970 graphics card for 800€ - but the same offer was available for 700€, I just missed it.

It currently does ~580MHash/s and consumes about 300Watt - not too bad compared to other miners, it seems to me. Also, if it survives the mining, maybe I can one day use it as a gaming PC if mining becomes unprofitable.

I was lucky that a friend offered to host it in his cellar, though - would have been too noisy for my flat.