Topic: Bitcoin: Should you stay or should you go? - page 34. (Read 34212 times)

I for one, am loving the opportunity to get my hands on all of these "Panic" sell off's 

This for me is a temporary setback, and a small bump in the road. I drive a 4x4 when I invest in crypto currencies, so I can handle all the small bumps 

You also need to see this as a 4x4 ride.... When you travel with a off-road vehicle, you look for the rougher roads less travelled. If everyone drive the same roads, it gets polluted and congested.

Let the city sleakers {Day traders & Speculators and the people looking for the Get Rich quick schemes} drive on the common public roads, whilst we enjoy the country roads. 

I will stay, in any case.
I'm sorry that I wasn't in Bitcoin from the very beginning, when I could get it very cheap, but I believe in the future of BTC and I will stay.
Many virtual currencies have come and gone but Bitcoin is still here, despite the many problems and obstacles.
When BTC become mainstream, we will finally be rewarded for our patience and faith.

Here is a good corrective to the Bitcoin Reality Distortion Field: Los Angeles' public radio station KPCC has a respected finance show called Marketplace. Today they have a five-minute segment on international money remittances. Now you would really think that Bitcoin would at least be mentioned as a possible force for change on the horizon.

Nope. Not a syllable. Go to http://www.scpr.org/programs/marketplace/2015/06/01/9631/ and click the "Listen to this episode" link and then move the media slider to 8:44.

Listen and weep! Or scream with outrage. Either way it won't make any difference -- the world will take its own sweet time in recognizing Bitcoin.

That simply won't happen.  At 2009 prices a big player could simply buy most of the coins in existence for a couple million bucks.  That truley would be the death of bitcoin and people would likely mine some altcoin.

I'm not sure I understand. If today's crop of miners start to bail out because falling bitcoin prices cannot pay for their electricity and hardware, then won't the difficulty level required to find successful hashes fall proportionately? This would invite new miners to enter the field using lower-powered computers. I don't see why theoretically this could not continue all the way back to ordinary desktop PCs, like in 2009. 

The infrastructure is being built.  VC money coming in doesn't seem phased on downtrend.  First step for adoption in my opinion is people will be using bitcoin without knowing there using it.  Like circle will soon be transferring USD around the world but converting to btc for the actual trading process.  And we need to just give institutions more time to start using the block chain and colored coins like NASDAQ has hinted at. 

I'm very patient so I bought in with at least a 5 year hold plan.  Currently I think people getting out now are going to be sorry.  Sure I might feel different if price drops below $100.  But you really need the mentality of the people that had bitcoins in 2010 and forgot about them for 3 years.  Or you will go crazy looking at day to day price swings.

It's a random ass number. No one that understands what all this is about would sell a single BTC. If you understand whats going on you'll see that this is no doomsday scenareo and nothing will happen. People is so confused and some devs are butthurt, thats all. At the end of the day, the bitcoin users will choose what they want, Core or XT by running nodes and mining.

at that point it's dead by any means, anything below 10 is the death of bitcoin, actually i would say sub 100, miners can't sustain their business with such price...

Why only those with less then 200 Bitcoins? Why not also the ones who have more?  I think if your predictions are correct the ones with more then 200 Bitcoins will save more money this way.

If you see 1 usd, then bitcoin is on its way to death.

The coins I have, all are earned free. So I have nothing to lose, only gain. So why should I leave when I can have plenty of fun in this community and especially in this forum...

Anyone with less than 200 Bitcoin might be best to sell all of it at the moment and maybe consider reentering after the dust settles.

not that I recommend that I don't see the reasoning but I also see that a lot of people are threating about selling their coins although I do just think this is attention whoring otherwise they would just do it.

if you have doubts then sell and minimise your losses its as simple as that anyoen who sees bitcoin as a quick rich scheme should just sell anyone who believes in the technology should think about it in depth and make their own decision or take precautions not to lose too much

Good point about the blockchain. It's here to stay and I think it will first be used in a big way by institutions. Such use will be transparent to their customers -- banks using it to transfer funds, etc. And institutions will probably be the first to use blockchain-based smart contracts too, again transparently (rental cars that won't start and doors that won't unlock absent a payment, etc.). But I have my doubts that institutions will increase the fiat value of bitcoins because their holdings will be for immediate transactions only with instantaneous conversion back to fiat. Lots of transactions, but nothing like what would happen if everyone jumped on board like they did with the Mac and Windows. (Employees were probably the greatest users of DOS apps.) And don't forget that bitcoins can be subdivided down to Satoshis. That is a lot of built-in capacity.

Bitcoin will have to swamp the world like the Mac, Windows, and the Web did. How will it do that and when? As of this instant, nobody knows. But I am going to guess that bitcoin and smart contracts will revolutionize gambling, particularly lotteries, allowing people to earn tickets doing bits and pieces of typing work -- word processing, translations, etc. Those needing the work done will fund the project/lottery.

My guess.   

as bitcoin is accepted and be used by more and more people and revenues, there you have your killer app. before that and until people are seeing bitcoin as a get rich quick scheme and start buying without any research, it is not gonna happen.

and it is the same scenario about the price if bitcoin is distributed more evenly the whales power to change the market price will be diminished and we will see a more stable price that will lead to better acceptance IMO.

Just like you say about the Apple computers in the early days, the tools were there, but nobody really saw an usage... We have to give it time and develop Bitcoin further.

Something to ponder about when thinking if one should stay or go is the Blockchain technology itself, not only Bitcoin. The Blockchain tech is even bigger than Bitcoin, I think, and it could easily reach bigger proportions than the coin itself (although if it does, the coin will go through the roof too, probably, as both are tied together)

Summing it all up, it's time to stay

Not sure what type of killer app you are referring to but using bitcoin nowadays doesn't mean you will need a rocket scientist to figure that out. Even for security those who already know how to use online banking should know as well how all these work. I don't know if it will get easier than what it is today but definitely I don't see it becoming an obstacle.

1. Making an account at an exchange is most times easier than making an account in a bank. The only difference is, that people already have a bank account for a long time.
2. Transactions are instant. Did you ever buy something with Bitcoin? I don't think so. For me it always takes less than 2 seconds.
3. Sure, reversing transactions seem like a good idea, until somebody reverses the transaction made to you. That happens all the time.

I somewhat agree. Just like the world wasn't ready for personal computers, the world isn't ready for Bitcoin just yet, but when it is, you'll regret not having a bunch of them.

BTCitcoin has no fear these kind of trolls or FUD as i think at the moment bitcoin is way ahead from it's starting point with largest adoption and huge merchant acceptance worldwide and this is on the way of solid progress with public awareness through it so who think they can get cheap coin by these kind tricks they are totally wrong.

That's what we're all waiting for my friend - that second train.
None of us would be here if we didn't think it was possible, my bags are already packed, I've got a stash that I HODL, I'm at the platform & I'm ready to go - the train hasn't arrived yet though.......

I do think it's only a matter of time, how long I don't know but I do believe we'll enter another bubble at the very least that'll give us a new ATH.
There are a lot of things in the pipeline that could have a positive effect on the price - NY Bitlicense, COIN ETF, Gemini Exchange, plus obviously continued mainstream adoption.

I also believe the next halving & the one after that will give us a big price jump due to the amount of coins available for purchase diminshing.
Unsure about a killer app as such but I do believe that those of us who are ready will enjoy new wealth once the wheels of bitcoin begin to move again.