

Ask HN: Given the price and the MtGox news, is now a good time to buy bitcoins? - asenna


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eloff
In general, buy when there's blood in the streets, at the maximum point of
pessimism. Sell at the maximum point of optimism when your grandma is trying
to get in on the action. Applies to any investment. The trick is don't buy
something that's about to go bankrupt or die, it needs to be a good investment
still.

~~~
gk1
> buy when there's blood in the streets

Exactly what was running through my mind as I was just buying Bitcoins five
minutes ago. Bought half now and will buy half tomorrow morning, in case it
dips further after people wake up.

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adrianwaj
What a ridiculous asset to be so influenced in price by the mismanagement of
technical resources at one exchange. Other than that, it could go lower: not
so by people that are pessimistic, but other people trying to take advantage
of that pessimism

The sky is not falling in, but people would have you believe it if it suits
them.

If there's one achievement of bitcoin, is that it's turned many hackers into
currency speculators and traders.

Personally, if 745,000 bitcoins have been stolen (is that even true??), I
wouldn't want to be part of that economy as monopolized by one thief (and also
one/many anonymous persons - Satoshi) .. I'd suggest Doge myself.

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ohsnap
Bitcoins are very volatile and high risk. If you can tolerate an investment
that can possibly go to zero then it might not be a bad time. But do seriously
consider if you can maintain your sanity with owning a volatile asset!

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t0
We've recovered from the last few crashes.
[http://i.imgur.com/wFA9x8k.png](http://i.imgur.com/wFA9x8k.png)

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gk1
As with any risky investment, please remember: Don't bet an amount that you
can't afford to lose.

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T-A
Also, define "now". As I write this, Europe is just beginning to wake up to
the news.

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fuj
I sold a few coins yesterday. I think the worse is yet to come

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rms
Absolutely, but hard to tell exactly where the bottom is

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maaku
Is the price now less than you think a bitcoin is worth?

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notastartup
consider in your head the number of people trying to cash out right now after
seeing a run on the bank while other banks will be busy assuring that this
won't happen to them and that you should buy because the price is cheap.

I think the bottom is yet to come, I think at $100, no more than $200, should
be a good buying point.

