Billy Young's Blog - Posts Tagged "speculating"
1st March 2014
It has been a big week for the Bitcoin markets this week. As you would have heard on the news, maybe, one of the biggest exchanges crashed and burned this week. Of course I was one of the ones trading through MT Gox. Yes I lost the coin I had invested but I had already lost most of my investment through bad discipline. I got caught out last summer. Yeah June was a bad month in speculation for me. It didn't help when I missed my footing in the last bubble as well. In total I was able to turn four bitcoins into point seven five. What can I say? Not a lot the figures show I'm not very good at speculating though it is fun. Anyways I have begun again at another exchange but I have started with only point one as I still wish to keep what little I have left.
With Mt Gox going bankrupt a lot of people have lost a great deal more than myself. I at least didn't lose any real cash as such as the coin I had invested was mined. Unfortunately many how have lost actually put real cash into bitcoin. Not that I am not saddened overt my own losses but it is a gamble which I have known from the start. Therefore I can only blame myself on losses as I would have taken any credit if I had made a profit. Of course by registering with another exchange and taking the gamble again might show that I haven't learnt much over the past few months. Or it might tell you something else about me. I have a thick skull, hehehe.
As I said above I made bitcoins through mining them but with mining difficulty having increased I was unable to do this any longer. It was for this reason I first got into speculating on Mt Gox. I do wish I had the money to afford some of the mining hardware that has come to market over the past few months. Unfortunately the asking price for a descent amount of power to make a profit is well above anything I could afford. Not a lot I can do about that then.
With Mt Gox going bankrupt a lot of people have lost a great deal more than myself. I at least didn't lose any real cash as such as the coin I had invested was mined. Unfortunately many how have lost actually put real cash into bitcoin. Not that I am not saddened overt my own losses but it is a gamble which I have known from the start. Therefore I can only blame myself on losses as I would have taken any credit if I had made a profit. Of course by registering with another exchange and taking the gamble again might show that I haven't learnt much over the past few months. Or it might tell you something else about me. I have a thick skull, hehehe.
As I said above I made bitcoins through mining them but with mining difficulty having increased I was unable to do this any longer. It was for this reason I first got into speculating on Mt Gox. I do wish I had the money to afford some of the mining hardware that has come to market over the past few months. Unfortunately the asking price for a descent amount of power to make a profit is well above anything I could afford. Not a lot I can do about that then.
