Topic: Buy and hold? I don't think so! - page 2. (Read 3326 times)

Man when will they learn..  OP is another example of a central planner wannabe know it all.

Sure, you can lobby for people to spend their money now rather than save. But you can't show a single shred of evidence that bitcoins aren't going to get spread around without people spending them now. That is merely you making baseless statements.

Actually I'm going to go a step further. It is precisely because people tend to want to save Bitcoins that they will get spread around more than we can even imagine. Just look at gold. It's super limited in supply, people tend to save it, and yet people own it all around the planet (even I own 2.6oz).


Good thing this experiment is by design a free market and so it doesn't matter what any one person thinks should or shouldn't be done. I can't wait for about 15-20 years down the road where all these prophecies and central plans will get demolished by the cold hard reality and evidence.

differemt guy perhaps...

https://bitcointalksearch.org/topic/bitcoin-got-me-some-action-47830

I'm not involved with Bitmit beyond using it for sales and purchases (and collecting very minuscule referral fees). However, I happen to know the fellow who sells the baklava (if we're talking about Mandrik -- never heard about that article, though  ) from somewhere else -- he's a Ron Paul activist.

Are you involved with Bitmit?
The single coolest offer there was the handmade baklava. I think by that guy who wrote an article on how he got laid for talking about bitcoins at a party. That and the stoner baklavas... can't find the link.

I should order myself some..

Wow that's several million dollars for a single +1

Oh what, wait, you're saying I haven't paid attention? 

You don't know my girlfriend...

Bitcoin sent

You can get the best of both worlds by investing, either directly yourself or by giving the coins to someone else to manage, receiving either a set MPR rate (CD or bond), or buying a share in a fund.

This offers a few huge advantages over just holding the coins:

*The value of Bitcoin needs to fall over 30% to 400% in value (depending on who you loan your coins to [/ invest your coins with]) per year against various fiats for you to actually take a loss (assuming no scam) due to declining BTC value.
*BTC is reinvested (effectively "spent") in the community. Further, with investments in productive business, the economy expands even moreso than it would just purchasing goods/services.
*You don't need to worry about somebody stealing your .dat or .wallet files. Somebody handling exponentially more coins than you likely has exponentially better security. That said, there's also the risk of fraud on the part of the person you loan to, or invest with.

I have heard many people say things along the lines of "Just buy and hold and you're fine!" on IRC-OTC and elsewhere and must admit I, too, used to believe that was the magic formula to wealth. Well, I don't think that's true anymore!

Today, bitcoins are valued against USD, the EURO and other local currencies for lack of a better gauge.

Some people ask for bitcoins as payment calculated hard against the USD value, arguing "A Bitcoin is 5 dollars now, simple and true, and no more." Others still see a Bitcoin hovering up there at $30 and would rather wait for another appreciation before going on a shopping spree. Again others hesitate to spend their coins at all because they know they're a virtual 1 million dollars give or take 10 or 20 years and they might never be able to get their hands on one again if they spend it now.

I'd go as far as to say some people may be wetting their pants already imagining themselves as world dominating Bitcoin Quazillionaires in a Jetsons-like setting buying entire nation states at the click of a button with their early mining or buy-in successes.

There may be some truth to that belief, but it's also way off the chart if you take reality into account.

What's the real value of a Bitcoin you might ask. (Well, you might not, but I do..)

Somebody a long while ago has mentioned on the forums that Bitcoin value didn't seem to be affected much at all by ordinary speculative events such as good news/bad news. Rather, there seems to be a direct correlation between trade volume and Bitcoin price. The more is traded, the higher the price. This makes a lot of sense beyond the daytrading scenario which the buy&hold people aren't bothered by anyway.

Movement creates friction, friction creates temperature and the meter goes up.

Transaction volume, and therefore spending volume, I believe, plays on the very same note. And how many transactions do we have these days? A dozen per block?

One Bitcoin may very well be worth "10 million USD" at some point in time but they will only be if you spend them NOW.

Sounds ironic? It is.

Spending is key to value increase. You already have everything you need: money and people. You can use the money in very creative ways to change people's behaviour and shape human economy. My girlfriend wants bitcoins now and asks me what she can do for me to get some (and I won't go into details about it).

As far as I see it, if you're in possession of a bunch of bitcoins today, you're already playing in the major league. And whatever you do with them is part of the gods' dance on top the pyramid. Now as much as in the future.

You give some kid a bunch of bitcoins today and he can do some amazing things with them already as much as he can 10 years from now.

Local currencies will fade, inevitably. And there will be another great rush for bitcoins at some point, but only if we make them attractive to people NOW. By spending.

The more we spend, the more we distribute them among the people, the more we increase the value of those precious coins we will have left later - and those we get from others later.

Sitting on them won't do much. Neither shedding tears over the paper moneyz' value you've spent on getting coins. Because eventually, that's all they will have been: papers.


The first comment to give this article a +1 will have a Bitcoin sent to their address.


Happy spending!

Cheers.


edit: typo