Topic: Can some one share his feelings after buying 1k BTC today? (Read 3234 times)

I know you're only joking, but.... You're offering to buy a put option for $10/btc, no expiry date?  What sort of option premium you offering?  I suspect I may not be the only person willing to take the other side of that trade, although "until the end of time" kinda sucks.  How about we go for something more realistic - say, life or 50 years, whichever is longer?

This is amazing! 

Ooh I'm not sure about that. Bitcoin in my eyes is just a way of introducing the world to crypto currency. Crypto currency is the future but not bitcoin.

Death Ill give you a call on you BTC at @$10 from now until the end of time... remember this when we are back to 10,000btc for 2 pizza

I feel pity for the people that sold. I mean, you're in BTC for two reasons, money, and research.

Money: You want to make a ton of it, everybody wants that and we all agree.
Research: You're a nerd, you like cryptography, you're an anarchist, libertarian or any of those stupid labels, you like the concept of a deregulated cryptocurrency and you think it's the future.

So, why the hell are people selling? it's been proven time and again (except the big crash in 2011) that bitcoin is going up.
EVEN if the bubble burst, do you honestly think you'll be see bitcoin under $50 ever again? (Unless there's a major security flaw in the protocol or MTGox gets hacked again) both scenarios unlikely due to the recent upgrades and changes to the platform.

I started mining in August 2012 and I consider myself a late adopter yet, my current profits are bordering 800%
Do I care if I see a retract in gains from 800% to 300%? Of course not! I'm still making money. And most of you are! so why selling?
The way I see it, people here are either making money or "losing opportunities" to make money, which is a fancy way to call it losing money.
Agreed that taking profits never killed anyone, and it's ohh so tempting to sell.
Be wise, be patient and you'll see even bigger margins on your favor.
And that's all I have to say about that.

Not yet - it still needs to finish the last few waves of a parabolic blowoff - see lucif's wave count it's spot on

Things are going to get much, much more wacky before sanity returns, like over $200/coin before the next crash starts

Have patience

I agree this is why i sold everything I had in BTC (except an emergency fund)

 I keep hoping to wake up and see a 20-35% crash

Almost textbook. And amazing how so few can see this.

I believe that retailers will begin to look at bitcoin as a big old pile of money and they will want to target it for sales. The hurdle is retailers must know they can quickly exchange those bitcoins for their local currency. It is a cycle that will feed on itself. The more debt free money is represented by bitcoins total market cap, the more retailers want some of it.

Problem with many of the retail sites looking to sell to bitcoin users right now is pricing in bitcoins. Nobody knows what a bitcoin is worth at the moment so why spend it if you believe it is undervalued? Price your stuff in the local currencies and show a conversion to bitcoin.

No worries. It will happen naturally soon enough.

Sure but what is default matters most. Can you imagine Windows pre-installed without Solitaire (as default)? It will be end of the Windows dominance! 

Seriously though, I think especially, the large exchanges (MtGox etc) should switch to mBTC as default.

True what you say, but there is no problem. The bitcoin-qt client allows translation to mBTC and uBTC at the choice of the user. No problem there.

I think I have the right partner for my Avalon

I would add something: just invest what you can afford to loose. That way you will able to have a clear mind while btc/fiat fluctuates, and stick to your strategy. Mine is buy/mine and HOLD 50%/exchange 50% for goods and services to support btc economy. But I'd avoid whenever possible to exchange btc for fiat .

And I would not forget that Bitcoin is a smart and sound currency, and a very interesting bet - but a bet nonetheless.


Soon Bitcoin-QT my have uBTC by default, and newcomers may be trading fiat for uBT at MtGox

So much misunderstanding in this thread, I don't know where to begin so I'm leaving.

Hyperinflation of the dollar yeah

I have thought about it quite a lot and I think you are right.

Average person is not ready to pay 0,00047954 BTC for anything. Yet if it was 479,54 BTC I think everybody (non-techies) would understand it.
The split in a way of 1:1'000'000 would be reasonable. I don't think technical split is even necesarry (see below).

I think this is the only flaw (obviously non technical - it's only about voluntary consensus) this currency have. People are not mentally used to buy 10 USD thing as 0,114038088721633 BTC.

Same is with capacitors if anyone around here is into electronics - 1 Farad (one farad) is just way too much. take a look at this:


The biggest capacitor (on the left "Siemens") is "just" 5000uF (microFarad) - 5 mFarad (miliFarad) or 0,005 F (Farad) and as you can see it is quite a big capacitor - size vise.

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I think (registering the current value of bitcoin at about 88 USD for 1 BTC) the most commonly used should be mBTC so the above mentioned 10 USD equal 114,038088721633 mBTC

Not by itself, but it's a factor, especially when contrasted with practices such as fiat quantitative easing, bank deposit raiding etc.

I have been thinking about block reward halving these days and I come to the conclusion that perhaps many people were waiting to see if bitcoin could act as promised, which it did, so, many of those people became a lot less hesitant. Subconsciously, I am probably one of them.

Because a halving of new coins created does not justify a rapid 666% increase in the price of all bitcoins ever created.

Everyone knows that BTCs will be worth 100,000 or 1,000,000 each at some point... just a matter of time...

I would just split them and call BTC the current micro or nano BTC... just to make the process faster... psychologically, 1 coin cannot be worth millions, so SPLIT IT!

For the longest time.