Call me a fool but I couldn't resist buying some goxBTC at .5. Be greedy when others are fearful and all that...
It's not foolish at all, provided you can live with the probable loss. It's like betting a number on the roulette wheel that pays off 50 to 1.
Yeah I can definately take the loss. I only spent 10btc which is a smallish percentage of my 'play stash'.
The way I see it I would have to make a long series of really good trades to double up in the same way and there would be much much more risk involved. While Gox running off with the money is a distinct possibility I think the risk of this happening is far lower than 50-50.
The numbers just make sense really.
So we agree the risk/reward ratio is low enough. I think there is a greater than 50% chance you'll lose, but if you win, you'll more than double up. The problem is that this market moves so quickly that by the time you realize your profits, you may miss out on several other opportunities. Range trading to scoop up 2% per swing seems boring, but it's a guaranteed profit if you don't care if you're either fiat or BTC heavy when price moves to a new range.