Do you plan to get out of bitcoin? - page 2.

inca

legendary

Activity: 1176

Merit: 1000

Quote from: abs350 on November 29, 2014, 01:53:40 AM

Exhibit A: The psychology of an idiot

I don't give a fuck about the price. The concept of bitcoin is just so damn cool. I don't care whether it's actually useful to anyone or not. I just love the name 'bitcoin'. I'll pay anything to own a bitcoin, I don't care!!! Who cares, it's only money!! Not like it's useful for anything else. If I have bitcoin, who needs money anyway! Bitcoin is better than money, even though nobody accepts it. It's just because they're uneducated and they don't understand its worth $10,000 even though the market price is $10. I don't care what other people think, they're wrong!! In 100 years I'll still own my bitcoin - that's all that matters! Even if it goes to $10, I'll still hold.

Yeah so the early adopters in 2009 who grasped the idea, mined the coins, bought coins in the early years which had no economic purpose whatsoever were idiots.

The people who bought bitcoins when they were 10$, such idiots!

I am guessing everyone who has accrued any wealth is an idiot!

saddampbuh

legendary

Activity: 1078

Merit: 1014

no

Robert Paulson

sr. member

Activity: 448

Merit: 250

I'll only trade bitcoin for goods and services, never for paper money.

porcupine87

hero member

Activity: 546

Merit: 500

hm

I already out but I plan go "go in" again Wink

ObscureBean

legendary

Activity: 1148

Merit: 1000

The thing is Bitcoin is an adventure unlike any other. Money and social interactions are almost mutually exclusive and Bitcoin manages to bring people from these two worlds together.
This is reinforced by the fact that a lot of 'common people' have made decent money with Bitcoin, money they probably couldn't dream of having in the real world. I think this unusual bond is likely to last longer than skeptics claim.

Bagatell

hero member

Activity: 722

Merit: 500

Quote from: Bad Uncle on November 29, 2014, 08:31:39 AM

I have no idea what I plan to do.

Food for thought.

(SSS) - A Sane and Simple bitcoin Savings plan

Bad Uncle

member

Activity: 64

Merit: 10

I have no idea what I plan to do. I'd probably sell half of my stash if the coins reached a handsome price. I'd like to keep some just in case the price doubled or tripled again in the future. Only time will tell.

Wexlike

legendary

Activity: 1473

Merit: 1086

It really amazes me, when i look at a few hundred euro bills i don't feel anything special. Because i know that someone else can print as much of them as he wants.

No excitement when i get a few euros on my paypal acc. But on the other hand, explosions when i get a few bits in my wallet - lol.

g27wr

full member

Activity: 221

Merit: 100

I like guns.

I'm a long term holder and I see no reason to get out. If you're here to convert to fiat one day after making a large profit, I think you're missing the overall point of Bitcoin.

pattu1

hero member

Activity: 675

Merit: 500

Why would I want to get out of bitcoin?
I just got into it after so much effort. Grin

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: abs350 on November 29, 2014, 01:53:40 AM

Exhibit A: The psychology of an idiot

I don't give a fuck about the price. The concept of bitcoin is just so damn cool. I don't care whether it's actually useful to anyone or not. I just love the name 'bitcoin'. I'll pay anything to own a bitcoin, I don't care!!! Who cares, it's only money!! Not like it's useful for anything else. If I have bitcoin, who needs money anyway! Bitcoin is better than money, even though nobody accepts it. It's just because they're uneducated and they don't understand its worth $10,000 even though the market price is $10. I don't care what other people think, they're wrong!! In 100 years I'll still own my bitcoin - that's all that matters! Even if it goes to $10, I'll still hold.

How kind of you to share your personal outlook.

JimboToronto

legendary

Activity: 3990

Merit: 4460

You're never too old to think young.

Quote from: gagalady on November 29, 2014, 01:57:11 AM

Already out. The bubble has burst

Which one?

So many Bitcoin bubbles.

gagalady

legendary

Activity: 938

Merit: 1000

Already out. The bubble has burst

abs350

full member

Activity: 481

Merit: 102

Exhibit A: The psychology of an idiot

I don't give a fuck about the price. The concept of bitcoin is just so damn cool. I don't care whether it's actually useful to anyone or not. I just love the name 'bitcoin'. I'll pay anything to own a bitcoin, I don't care!!! Who cares, it's only money!! Not like it's useful for anything else. If I have bitcoin, who needs money anyway! Bitcoin is better than money, even though nobody accepts it. It's just because they're uneducated and they don't understand its worth $10,000 even though the market price is $10. I don't care what other people think, they're wrong!! In 100 years I'll still own my bitcoin - that's all that matters! Even if it goes to $10, I'll still hold.

cbeast

donator

Activity: 1736

Merit: 1006

Let's talk governance, lipstick, and pigs.

Quote from: mmortal03 on November 28, 2014, 08:55:35 PM

Quote from: Melbustus on November 28, 2014, 05:00:37 PM

Szabo and Wences Casares (among others) make the point that we only used gold as jewelry *because* it was monetarily valuable, so that mucks with the idea of jewelry being an "intrinsic" use for gold.
http://szabo.best.vwh.net/shell.html
http://www.youtube.com/watch?v=NERAN-89j8M

When the ladies start wearing bitcoins formed into jewelry, then I'll buy into that argument, lol.

Show me a lady that doesn't want money.

mmortal03

legendary

Activity: 1762

Merit: 1010

Quote from: Melbustus on November 28, 2014, 05:00:37 PM

Szabo and Wences Casares (among others) make the point that we only used gold as jewelry *because* it was monetarily valuable, so that mucks with the idea of jewelry being an "intrinsic" use for gold.
http://szabo.best.vwh.net/shell.html
http://www.youtube.com/watch?v=NERAN-89j8M

When the ladies start wearing bitcoins formed into jewelry, then I'll buy into that argument, lol.

catena5260

sr. member

Activity: 476

Merit: 501

no

I don't give up on things that give me money, you know
Might not put more money on it though

Erdogan

legendary

Activity: 1512

Merit: 1005

The nice thing with local exchanges and localbitcoins, is that the coins are now hyper liquid. So I can drain down my bank account to a bare minimum, still I have fiat not far away if need should arise.

Melbustus

legendary

Activity: 1722

Merit: 1003

Quote from: dinofelis on November 28, 2014, 02:55:12 PM

Quote from: Melbustus on November 27, 2014, 02:22:32 PM

Yeah. And in thinking that the term "intrinsic value" is meaningful, revealed himself as a weak-thinker.

Well, you can define "intrinsic value" as the value an asset would have on the market, if it was only produced, traded and exchanged for the purpose of using it as a consumption good or as a capital good (capital as in production capital), and not as a store of value of any kind.

Yes, we can get semantic about it. The point is that he fails to consider where money's value actually comes from.

Quote from: dinofelis on November 28, 2014, 02:55:12 PM

Bitcoin has no intrinsic value at all,

Well, you could argue that it's useful for storing data in a robust way, or things along those lines. Turns out that memory function is a superset of money, so...

Quote from: dinofelis on November 28, 2014, 02:55:12 PM

and gold has only a very limited intrinsic value: to make jewelry (in as much as it is only used to be worn as jewelry, and not as an investment or store of value),

Szabo and Wences Casares (among others) make the point that we only used gold as jewelry *because* it was monetarily valuable, so that mucks with the idea of jewelry being an "intrinsic" use for gold.
http://szabo.best.vwh.net/shell.html
http://www.youtube.com/watch?v=NERAN-89j8M

Quote from: dinofelis on November 28, 2014, 02:55:12 PM

It is a good thing that money has no intrinsic value ; because due to the monetary function, the market price is higher than the intrinsic value, which would damage the real use of the asset. If cereals would have a very high monetary price, everybody would hoard them, and people would starve because cereals would become too expensive to make food of.

Yes, fully agree. Gold is a reasonable example. It'd be used in electronics more if it wasn't so damned expensive (with most of the expense coming from the investment demand). So society would be able to allocate resources more efficiently if there was an alternative to gold that had all of gold's properties but was nearly useless for industrial purposes.

bassclef

hero member

Activity: 924

Merit: 1000

No, I'm buying more. Professionals are accumulating silently. The signs are there in the charts if you know how to look for them and understand how smart money operates. These are the cheap coins, my friends. If you're lucky you'll see $300 one more time but don't count on it.

Topic: Do you plan to get out of bitcoin? - page 2. (Read 5672 times)