Topic: I am not a speculator. This is why I keep most of my monthly savings in bitcoin. (Read 1305 times)
August 09, 2014, 10:21:44 AM
BTC is great crypto to rely on most stable one. If everybody do what you do it will really rise.
August 09, 2014, 09:47:43 AM
Gox caused a huge drop in your saving's value, PBOC caused a bigger one, and there are many others that can do worse.
Yes, you are taking more risk than most speculators only by holding all your savings in bitcoins
Yes, you are taking more risk than most speculators only by holding all your savings in bitcoins
And this is assuming you take all security precautions.
If you discover at a later point that your private key had been compromised earlier, it could be disastrous.
August 09, 2014, 07:24:55 AM
as the Zurich's axioms book says: all investing is speculation
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
Yeah, true. I think the thread title is a very interesting and daring assumption, but I guess he knows very well that Bitcoin remains the more volatile currency, compared to effectively every FIAT currency in existence (even those which are at risk of hyperinflation). But it is a very interesting stance!
Yeah, and it will be so until 2020's block halving. In the meantime, I believe inflation is too high to make sustainable a price above 1000$.
That Bitcoin is deflatory is a lie that too many people believe.
August 07, 2014, 09:29:28 PM
Gox caused a huge drop in your saving's value, PBOC caused a bigger one, and there are many others that can do worse.
Yes, you are taking more risk than most speculators only by holding all your savings in bitcoins
This is true. There are a lot of both known and unknown risks to holding bitcoin. There is no guarantee that the price will rise over time. Yes, you are taking more risk than most speculators only by holding all your savings in bitcoins
August 07, 2014, 08:58:19 PM
Gox caused a huge drop in your saving's value, PBOC caused a bigger one, and there are many others that can do worse.
Yes, you are taking more risk than most speculators only by holding all your savings in bitcoins
Yes, you are taking more risk than most speculators only by holding all your savings in bitcoins
August 07, 2014, 07:59:44 PM
as the Zurich's axioms book says: all investing is speculation
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
Yeah, true. I think the thread title is a very interesting and daring assumption, but I guess he knows very well that Bitcoin remains the more volatile currency, compared to effectively every FIAT currency in existence (even those which are at risk of hyperinflation). But it is a very interesting stance!
However the only reason that bitcoin is not experiencing inflation is due to the fact that so many people want to buy bitcoin that it's current price can be supported.
August 07, 2014, 07:58:24 PM
as the Zurich's axioms book says: all investing is speculation
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
Yeah, true. I think the thread title is a very interesting and daring assumption, but I guess he knows very well that Bitcoin remains the more volatile currency, compared to effectively every FIAT currency in existence (even those which are at risk of hyperinflation). But it is a very interesting stance!
August 07, 2014, 07:01:19 PM
Bitcoin is very speculative. If you are "investing" in bitcoin then you are speculating.
August 07, 2014, 06:02:16 PM
as the Zurich's axioms book says: all investing is speculation
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
Yeah, true. I think the thread title is a very interesting and daring assumption, but I guess he knows very well that Bitcoin remains the more volatile currency, compared to effectively every FIAT currency in existence (even those which are at risk of hyperinflation). But it is a very interesting stance!
August 07, 2014, 01:38:28 PM
I know my BTC is worth something. If a thousand people who grew up under authoritarianism think like me, then BTC is worth billions. This is not considering BTC as a medium of exchange, as an investment in a portfolio.
BTC is worth something as long as someone willing to give it a value. The illusion of value may not always be there. Fiat, on the other hand, will always be accepted by the country.
This has the disadvantage that the country controls the fiat's value, and this rarely goes in the advantage of the users.
Also disadivantage that inflation is a fact with fiat. No place without price inflation that I know.
And outside your country your money may not be accepted, while bitcoin is global.
August 07, 2014, 01:35:51 PM
I know my BTC is worth something. If a thousand people who grew up under authoritarianism think like me, then BTC is worth billions. This is not considering BTC as a medium of exchange, as an investment in a portfolio.
BTC is worth something as long as someone willing to give it a value. The illusion of value may not always be there. Fiat, on the other hand, will always be accepted by the country.
This has the disadvantage that the country controls the fiat's value, and this rarely goes in the advantage of the users.
August 07, 2014, 12:28:48 PM
I know my BTC is worth something. If a thousand people who grew up under authoritarianism think like me, then BTC is worth billions. This is not considering BTC as a medium of exchange, as an investment in a portfolio.
BTC is worth something as long as someone willing to give it a value. The illusion of value may not always be there. Fiat, on the other hand, will always be accepted by the country.
August 07, 2014, 12:19:34 PM
if you put all of your money on bitcoin, aren't you basically speculating? speculating that its value will hold up better against fiat or other commodities.
Not necessarely, one could buy Bitcoins because they like the social and economical aspect of it, and they want to be part of that movement, with speculation being not the most important argument to the decision.
August 06, 2014, 03:47:45 PM
if you put all of your money on bitcoin, aren't you basically speculating? speculating that its value will hold up better against fiat or other commodities.
August 06, 2014, 03:40:15 PM
I know my BTC is worth something. If a thousand people who grew up under authoritarianism think like me, then BTC is worth billions. This is not considering BTC as a medium of exchange, as an investment in a portfolio.
Wow, that's a bold stance! Nicely worded as well (especially the title). But to be honest, I think depending on the country you're living in, Bitcoin is still the riskier commodity or currency when compared to the local FIAT currency or commodities like gold, etc...
August 06, 2014, 03:15:38 PM
as the Zurich's axioms book says: all investing is speculation
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
You speculation is that your bitcoins are worth something, and may even reach billions/each(what is impossible if you do the math, but I got the point), and in 15 years they will be worth much more than they are worth now(in special, more than 0, so bitcoin will survive 15 years)
August 06, 2014, 02:57:25 PM
But wouldn't a true hodler buy miners with FIAT? 
I'm looking at you iluvbitcoins.
I'm looking at you iluvbitcoins.
yeah, he would
but since I'm underaged [no bank account, no credit cards] the only thing left to pay for them is bitcoin
That's cool, I never realised before how cryptocurrencies had and useful potential for underaged people.
yes, I'v also found a work around for PayPal, been using it to purchase over 50ish items altough I don't own a credit card
August 06, 2014, 01:47:14 PM
Lots of new coin coming up. Some long term holders are hedging their bet and putting some money into new generation of coin.
Long term holder of bitcoin need to be aware of the trend.
Long term holder of bitcoin need to be aware of the trend.
This has been going on for a while though, since the beginning of Peercoin and Litecoin. The peak was this winter, at the end of BTC's bubble.
At the moment, the altcoin market doesn't seem to be as lucrative as before.
August 06, 2014, 01:43:58 PM
Lots of new coin coming up. Some long term holders are hedging their bet and putting some money into new generation of coin.
Long term holder of bitcoin need to be aware of the trend.
Long term holder of bitcoin need to be aware of the trend.
August 06, 2014, 01:19:39 PM
Speculators have an hard work with bitcoins, most of daytraders are only losing money trying to predict btc's value.
I'm holding too!
I'm holding too!
There are a lot of people whose strategy is to hold. Seems to be a reasonable one given what we have seen so far.
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