I just want to post a positive note to my brothers and sisters in Bitcoin land. The price drop is hurting a lot of people right now, and a lot of people are getting discouraged. I just saw a local guy put his 540 ghash mining operation for sale on craigslist including 9 ASICS - his asking price $5000 or best offer! In July that rig could of sold for $45000, times are getting tough my friends but don't let it discourage you. It can only go up from here and believe me it will. Miners... I have not sold any mined Bitcoins since they were at $1100, you know why? Because I truly believe that they are worth more than a couple of hundred bucks a piece and I am not going to panic and sell the wallet off because I am afraid of losing. Keep your coins - or better yet INVEST them in a Bitcoin business.
I remember late last winter when the price went from $13 to $266 - you know how freakin ecstatic I was?? I remember that feeling and I remember selling 50 coins when they were at $90 a pop and thinking aint life grand and all that happy horse sh1t, but damn look at us now. I will not be discouraged and don't let it discourage you. This is a growing pain and we will come out of it stronger. I know for myself I am in this for the long run and if you truly love Bitcoin and want to see this thing work you need to take on a similar attitude.
Still pissed about the price drop? Go tell everyone you know that Bitcoin is the best currency that ever existed and explain to them why. Then set your ask offer at MTGox to $10,000 log out and leave it.
STAY STRONG BRO'S I LUV YOU ALL Smiley
Nice post Ruru!
At times like these, I like to watch the transactions relayed across the network from all 4 corners of the world. Through all the excitement, greed, and fame, panic, DDoS attacks and fear, the Bitcoin network just faithfully processes transactions and logs them to the blockchain. It's really incredible--this robust piece of technology we built.
I was new to bitcoin in March. I bought through the April run up, got discouraged during the crash, but I just kept reading and learning about bitcoin and became even more excited as I realized just how powerful this network is. I invested more and more over the summer--both money into buying coins, and time into understanding the technical details that underlie this innovative new payment system. Since last month, I have been committing 20 hours of my time per week to develop new technology to make bitcoin easier and more secure.
We have the opportunity here with bitcoin to build something that truly makes the world a better place for those that come after us. I am thankful to be living in such exciting times.
If this is Ruru from just-dice.com, we should grab a beer some time (this is R [the original one])