China bans new Bitcoin deposits

China bans new Bitcoin deposits
ft.com

http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_clo...

[1] http://www.reddit.com/r/Bitcoin/comments/1t5cfx/btcchina_clo...

Along with this gem: https://news.ycombinator.com/item?id=6858258

In summary, I invested $11k @ $1106/coin, predicting it'd rise to $1,500.

Shazam! I've transmuted that $11k into... let's see ... $5,100.

I feel pretty ill. Thought you'd all enjoy the schadenfreude, and perhaps learn from my example: "How to ignore Sam Altman and lose more than half your money."

http://blog.samaltman.com/thoughts-on-bitcoin

EDIT: I'm holding onto my coins. But, now that China is strongly incentivized not to invest in Bitcoin, it's going to be a very slow climb back to $1106. And at the end of that long road (I'd say at least several months, but what the hell do I know, right?) I get to look forward to: "Yay. I've lost $0. I've also gained $0."

EDIT2: Oh, nope! It just fell from $520 to $500. So, at current market prices, my $11k is now $4,780. Of course, we've all seen bitcion dip and quickly rise again. It's just very... interesting... to me that within the timespan of writing a HN comment, I'm down another $320.

Yes. Interesting. That's the word. I'm interested. In learning from my mistakes.

FYI, that -$5,900 was enough to pay off my car loan in its entirety, or all of my (admittedly small, relatively speaking) credit card debt.

Oh well. I'm going to go build a product and sell it now.

EDIT3: The market rose from $500 to $540, so that means I've earned back $474! And since my last edit was an hour ago, that must mean I'm earning $474/hr writing HN comments in my pajamas! Why hold down a programming job when you can write HN comments fulltime for 4x the wage? Quit tomorrow, sell everything you own, and invest it all in bitcoin immediately!