Thoughts on Bitcoin - and why I cashed out of BTC at $18k
From one point of view, cashing out is foolish. The price has gone up, and will go further. From another perspective, holding so much in BTC was already insane. In 2013, I swallowed my pride for not having invented Bitcoin, and invested a total of $60,000 in it. About $30,000 was into Butterfly Labs mining hardware. This turned out to be mostly a scam . Time after time, the company delayed delivery, while actually, they were using hardware prepaid by their customers to mine Bitcoin themselves. A year later, I was able to receive my order refunded. I'm not sure that would have happened if it wasn't for a friend. With the other $30,000, I bought around 250 coins on MtGox , at around $120. For months after, I had a disturbing gut feeling about leaving them there. I rationalized that it's safer to trust the world's largest exchange than to store them myself. When MtGox came crashing, I salvaged around 30. For a year, I beat myself up for ignoring my sixth sense. I hav