Topic: Has it gotten better for you? (Read 2151 times)

better and better dont really care of the big dumps. but what sucks is that people will be scared that the same will happen in the us as in china :/

I was up over 1000% at Bitcoin's peak.


Ha. Something to do with the tides I think  .

That's the way to do it with bitcoins. Fire and forget.

I don't panic. I don't see the reason to do that. I invested some amount that I more then quadruple.

I reckon it'll stay relatively stable until the new year now, unless there's some unexpected big news, but I can't see any. I'm sure it'll be a wild ride in 2014 though .

Its hard to know at the moment. Are we going back to $300, or going to stabilize at $600 to $700 and kick on in the new year ... nobody knows.

I would disagree it's flawed, the reality (currently) is that if you want to buy $20 worth of groceries tonight it's going to be the same amount tomorrow or next week or next month (not including things like sales or seasonal foods of course).  While 1btc is still 1btc , if you wan'ted to buy 1btc worth of groceries tonight and you put it off until tomorrow, suddenly the amount of groceries you get is going to be quite differe wether it's more or less. And for people wanting to buy groceries (or most items) they don't like that level of instability and uncertainty. They prefer to know they can get the same amount of groceries next month that they can get right now.

Things could and I think should change in the coming yes but regardless of how much you like bitcoin it is a reality right now that it's not  practical currency for shopping as of right now.

Oh I certainly don't disagree that the volatility of bitcoin should smooth out as time progresses and the market gets larger. Small markets are always pretty volatile. And yes I'm aware of other countries collapsing or getting rid of certain currencies , but again most people spending money are thinking about what they are buying RIGHT NOW , not about whether or not America (Just using america as an example) is going to collapse in their lifetime and the dollar disappears. 

Depends what country's fiat you're using and how stable their economy is. Zimbabwe abandoned their own Dollar for others in 2009, and now largely use US dollars. Maybe other countries will get rid of their own currency in favour of cryptos in the future. But I get what you're saying about Bitcoins fluctuations, but we must remember this is still the early days of a essentially new type of currency. I'm sure it will steady off in the future and maybe people won't peg it to fiat and maybe even the other way round.

This is flawed, you can apply the same to the $ if you want to spend in euros, for example.
For the same reason, if I want to spend 1 bitcoin today it's still 1 bitcoin tomorrow, etc...

Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much.  Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.

I'm investing little by little but at the moment I've only invested a quarter of the sum I intend to invest. This means I'm constantly worrying about 'missing the train' which makes me check the price a ridiculous number of times a day.

there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.

If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.

Like you say I believe that Bitcoin is not a get-rich-quick scheme as most people think. The true potential of Bitcoin is not a matter of few months. I am not planning to cash out anything until two years.

Since I am into Crypto-Currency, I feel that FIAT money is obsolete and ultimately have no value. I believe that a part of the global economy will collapse really soon and keeping your wealth in FIAT currency is a greater risk that having it into Bitcoin so there is a possibility that my Bitcoins will never be converted back to FIAT.

to be honest, about last month.. all i could think of was the regret in not spending more. there were a few instances where i planned to buy $100 worth of litecoins, when it was trading for 6 cents. i got lazy and gave up, since i didn't think of buying BTC and then trading for LTC. it's water under the bridge, but that $100 would have turned into something like $25k today (this was about 6-7 months ago). it's crazy how a few thousand dollars would be enough to retire you for the rest of your life; but it didn't happen, so the best option is just to get over it.

In regards to sitting thinking  "man i should have done this or that"  or "damnit I bought to high and now it crashed"  etc etc.  I don't think about it at all.

For the bitcoins I have in "savings" i don't plan on using/selling them for a good 5-15 years or so. I'm really believing in bitcoin in the long term and I understand it's not uncommon for something like this to take a couple of decades to reach it's full potential  (think online shopping, websites, online banking, credit cards, etc etc and how long it took to reach mass adoption).

Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions.  Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.   Just some thoughts I think about..... but waaaaay too early in the life of bitcoin to really think about that too much now, lets come back and look at it 5-15 years from now .

Definitely easier. Like anything, you get used to it the more times you get exposed to it. Water off a duck's back now. Wasn't like that the first time

This.

+4 (as in +1 on every point!)