I have halted all purchases paying with Bitcoin

RealBitcoin

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Quote from: OROBTC on October 10, 2015, 12:46:53 AM

...

Recently I made a decision to just stand pat re my BTC holdings. I had made various experiments into buying gold (from veldtgold.com here at bitcointalk) and providentmetals.com, both of them gave me good & rapid service when paying by Bitcoin.

But, my wife is less-than-enchanted with me buying more gold, so I will just HODL the rest of my BTC "pile", and wait to see what happens in the near and medium term future.

I am inclined to believe that BTC will likely go higher from here, with a lesser chance of going much higher, but I have less insight into that than many BTC veterans and experts.

So, I will just sit on the sidelines now, and cheer the BTC price on up. If ti reaches very high numbers, I will re-evaluate my HODL, and turn them back into CA$H or gold. In other words, my BTC are now in "strong hands", I am not going to let them go.

Yes its an interesting phenomena.

Males are money earners, women are money spenders.

Males want to earn more money by sometimes excessively taking risks, while women are more financial conservatives, trying to look for realistic gains and preserve status quo.

Better listen to your wife now, and keep your risk low, because you probably bought tons of them.

golapani

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Quote from: OROBTC on October 10, 2015, 12:46:53 AM

...

Recently I made a decision to just stand pat re my BTC holdings. I had made various experiments into buying gold (from veldtgold.com here at bitcointalk) and providentmetals.com, both of them gave me good & rapid service when paying by Bitcoin.

But, my wife is less-than-enchanted with me buying more gold, so I will just HODL the rest of my BTC "pile", and wait to see what happens in the near and medium term future.

I am inclined to believe that BTC will likely go higher from here, with a lesser chance of going much higher, but I have less insight into that than many BTC veterans and experts.

So, I will just sit on the sidelines now, and cheer the BTC price on up. If ti reaches very high numbers, I will re-evaluate my HODL, and turn them back into CA$H or gold. In other words, my BTC are now in "strong hands", I am not going to let them go.

You will probably be hacked by some hacker.they are always on the lookout for hefty purses

maokoto

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Your strategy seems quite reasonable. I like gold too, but you already have some, so holding BTC looks quite good. Congratulations.

gogxmagog

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Ad maiora!

The thing about hodling and waiting for moon is; if and when btc is worth 6 digits and more it will also be accepted almost universally so you would have no reason to cash out. Your buying power would be in btc and you could pay for everything with btc. That's also when the banks will collapse.

I can't wait too

mookid

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Basically what we need right now is more people embracing bitcoin as a valid and CONVENIENT payment option, that will drive the price up.
Right now the community is a circlejerk of altcoin scammers (maybe i'm exaggerating but it is something you see everyday on this forum).
These development uncertainties that bitcoin suffers don't help either.
Bitcoin can offer so much for those whose local currency is under threat of devaluation.

gentlemand

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Welt Am Draht

Quote from: aso118 on October 10, 2015, 10:20:25 PM

Hold it till the 2020 block reward halving. You will have a pretty good idea about where Bitcoin is headed at that point.
I will be holding till that point too. No matter what the price is, I plan to liquidate only half of my stock.

Yup. I think that's the most sensible strategy. Lots of noise, issues and wrinkles to iron in the short term. If there isn't a clear path upwards by then I'm not sure there'll ever be one.

VirosaGITS

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Quote from: aso118 on October 11, 2015, 07:24:41 PM

Quote from: mallard on October 11, 2015, 02:38:05 PM

But if everybody holds onto it, it's going to be a pretty crappy currency because nobody will spend or accept it.

The miners have bills to pay.
They will pay for their purchases with bitcoins, or sell it at exchanges. Wink

As a miner i buy all my hardware with Bitcoin as well and stuff like power bars, PSU's surge protectors, cables wires and pretty much everything with BTC. Then i spend the little BTC i have left and buy living necessities out of it. Most of it never hit my bank account and since there is no capital gain, it is not considered income in Canada.

aso118

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Quote from: mallard on October 11, 2015, 02:38:05 PM

But if everybody holds onto it, it's going to be a pretty crappy currency because nobody will spend or accept it.

The miners have bills to pay.
They will pay for their purchases with bitcoins, or sell it at exchanges. Wink

christycalhoun

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Quote from: mallard on October 11, 2015, 02:38:05 PM

But if everybody holds onto it, it's going to be a pretty crappy currency because nobody will spend or accept it.

The market is still young and many people are waiting for new buyers to come into the market. There are billions of people out there and only a small percentage use bitcoins.

mallard

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But if everybody holds onto it, it's going to be a pretty crappy currency because nobody will spend or accept it.

Ceizer54

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Predictions are not easy OP..they are always hard..I would say you have done right and should hold as much bitcoins as you can..
Furthermore investment in anything is risky but we should have patience

My advice is hold and wait till mid season of next year to see the result..I am sure prices will be up and then sell and buy something for you wife Tongue

Febo

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Quote from: OROBTC on October 10, 2015, 12:46:53 AM

...

Recently I made a decision to just stand pat re my BTC holdings. I had made various experiments into buying gold (from veldtgold.com here at bitcointalk) and providentmetals.com, both of them gave me good & rapid service when paying by Bitcoin.

But, my wife is less-than-enchanted with me buying more gold, so I will just HODL the rest of my BTC "pile", and wait to see what happens in the near and medium term future.

I am inclined to believe that BTC will likely go higher from here, with a lesser chance of going much higher, but I have less insight into that than many BTC veterans and experts.

So, I will just sit on the sidelines now, and cheer the BTC price on up. If ti reaches very high numbers, I will re-evaluate my HODL, and turn them back into CA$H or gold. In other words, my BTC are now in "strong hands", I am not going to let them go.

I think in basic, having Gold or bitcoins is same. But ofcourse it is different. I suggest you to also look elsewhere. But maybe in near future, Bitcoin and Gold might be best to have, so you need to just sit and relax.

~Bitcoin~

legendary

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You have taken a very wise and good decision. You seems to be strong believer of bitcoin but you have not consider to hold your all of the bitcoins hoping the price will go up which is a very safe decision. I think july of 2016 will be the month to decide on buying or selling our bitcoins.

erikalui

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Quote from: Preen on October 10, 2015, 10:43:57 PM

You clearly have no idea what you'r'e talking about. Gold has been the 'gold standard' as a medium of exchange for thousands of years. If you look at gold's history, there has been hugely volatile rides in price throughout the years.

https://www.tradingview.com/x/0gCBfwtm/

Check this chart out of GOLD during the 80's boom and subsequent decline..

Even though gold is a global commodity, it really is in the control of very few entities. The scale of their games is simply much larger. But the end goal exactly the same.

At the end of the day, where you choose to put your money is up to you, each and every asset is exposed to 'market forces' whether its Commodities, currencies or stocks. Some just fluctuate less on smaller time frames. If you zoom out and look at the bigger picture, there's always a bunch of people getting screwed. In a zero-sum game, there's only very few winners, and those exact wins are on the backs of the majority losing.

I am not checking the price worth 20 years back as Gold is a medium of exchange since the 18th century. It was just an example and I dint get what you are trying to say. The comparison was Gold and bitcoins and which is more worth while I haven't eliminated the risk factor that exists in both the physical commodity as well as virtual one. For me it's Gold that's what I said whether or not the price fluctuates is not a concern for me.

VirosaGITS

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Quote from: Preen on October 10, 2015, 10:43:57 PM

Quote from: erikalui on October 10, 2015, 09:43:51 AM

Quote from: VirosaGITS on October 10, 2015, 07:39:09 AM

Well, are you betting gold will double in value in the next few years? I think gold is a good store of value, but unless a gold shortage happen, the value will most not likely raise by all that much.

If BTC goes up to only 400$, then that is a great investment to make right now. But if you wish for physical good that will merely retain their value, then gold/silver and toilet paper it is.

Like I said earlier, gold is not just a commodity for me that just have a value but we also have jewelry made of gold and that's worth much more than the bitcoins I hold in a wallet. I am almost 100% sure that Gold being used for the past 100 years will continue to hold value for another 100 years but will Bitcoins be able to survive so long? It would make me look delusional if I say that bitcoins would last for so long. About doubling the price, it's just a guess that the price would be $400 after 2-3 years but if we take into account the price in 2013, now the price is 25% the value it was then. If the price does reach $400, it would still be a loss for those who bought bitcoins when it was worth $1000. On the other hand, the price of gold has not reached -75% of its amount in 2013 (1 kg is now worth $38,532 and the percentage difference in 2 years is -10% approximately) . The price is stable which matters a lot while we decide what's preferred Gold or Bitcoins.

You clearly have no idea what you'r'e talking about. Gold has been the 'gold standard' as a medium of exchange for thousands of years. If you look at gold's history, there has been hugely volatile rides in price throughout the years.

https://www.tradingview.com/x/0gCBfwtm/

Check this chart out of GOLD during the 80's boom and subsequent decline..

Even though gold is a global commodity, it really is in the control of very few entities. The scale of their games is simply much larger. But the end goal exactly the same.

At the end of the day, where you choose to put your money is up to you, each and every asset is exposed to 'market forces' whether its Commodities, currencies or stocks. Some just fluctuate less on smaller time frames. If you zoom out and look at the bigger picture, there's always a bunch of people getting screwed. In a zero-sum game, there's only very few winners, and those exact wins are on the backs of the majority losing.

Gold will retain value no matter what happen, short of human extinction. While fiat or any currency really that has no value by itself has risks. The US economy could collapse, BTC could get attacked in a big scale way by governments, etc.

Invenio

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I'm in the same boat as you OP, just hoping the BTC Price conctinues to climb. Just watched it jump from 244 to 252.8 so that's pretty dank.

Preen

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Quote from: erikalui on October 10, 2015, 09:43:51 AM

Quote from: VirosaGITS on October 10, 2015, 07:39:09 AM

Well, are you betting gold will double in value in the next few years? I think gold is a good store of value, but unless a gold shortage happen, the value will most not likely raise by all that much.

If BTC goes up to only 400$, then that is a great investment to make right now. But if you wish for physical good that will merely retain their value, then gold/silver and toilet paper it is.

Like I said earlier, gold is not just a commodity for me that just have a value but we also have jewelry made of gold and that's worth much more than the bitcoins I hold in a wallet. I am almost 100% sure that Gold being used for the past 100 years will continue to hold value for another 100 years but will Bitcoins be able to survive so long? It would make me look delusional if I say that bitcoins would last for so long. About doubling the price, it's just a guess that the price would be $400 after 2-3 years but if we take into account the price in 2013, now the price is 25% the value it was then. If the price does reach $400, it would still be a loss for those who bought bitcoins when it was worth $1000. On the other hand, the price of gold has not reached -75% of its amount in 2013 (1 kg is now worth $38,532 and the percentage difference in 2 years is -10% approximately) . The price is stable which matters a lot while we decide what's preferred Gold or Bitcoins.

You clearly have no idea what you'r'e talking about. Gold has been the 'gold standard' as a medium of exchange for thousands of years. If you look at gold's history, there has been hugely volatile rides in price throughout the years.

https://www.tradingview.com/x/0gCBfwtm/

Check this chart out of GOLD during the 80's boom and subsequent decline..

Even though gold is a global commodity, it really is in the control of very few entities. The scale of their games is simply much larger. But the end goal exactly the same.

At the end of the day, where you choose to put your money is up to you, each and every asset is exposed to 'market forces' whether its Commodities, currencies or stocks. Some just fluctuate less on smaller time frames. If you zoom out and look at the bigger picture, there's always a bunch of people getting screwed. In a zero-sum game, there's only very few winners, and those exact wins are on the backs of the majority losing.

aso118

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Hold it till the 2020 block reward halving. You will have a pretty good idea about where Bitcoin is headed at that point.
I will be holding till that point too. No matter what the price is, I plan to liquidate only half of my stock.

lemipawa

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Quote from: Bifta on October 10, 2015, 10:05:55 PM

Quote from: lemipawa on October 10, 2015, 10:03:54 PM

Quote from: Anmol_Verma on October 10, 2015, 09:55:19 PM

Just wait and watch it will go beyond $1000 next year

Why do you think it will go beyond $1,000 mark by next year?
It won't even touch the $300 mark for the past few weeks since the Bitcoin XT story started making its rounds and recently it reached $250 because of some pump and dump groups out there.

A lot of people are speculating that the next block reward halving will cause the price of Bitcoin to skyrocket. IMO it won't happen.

Yes I've heard of that story line, last time I heard from a friend here it will reach $350 - $400
But I don't see any reason why it will go to that level, but who knows, Bitcoin really is unpredictable
Another exchange site maybe launched in a couple of months and make some pump and dump act and may help increase the price a little bit, but not $1,000. However, I'll be a happy camper if ever that happens.

Bifta

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Quote from: lemipawa on October 10, 2015, 10:03:54 PM

Quote from: Anmol_Verma on October 10, 2015, 09:55:19 PM

Just wait and watch it will go beyond $1000 next year

Why do you think it will go beyond $1,000 mark by next year?
It won't even touch the $300 mark for the past few weeks since the Bitcoin XT story started making its rounds and recently it reached $250 because of some pump and dump groups out there.

A lot of people are speculating that the next block reward halving will cause the price of Bitcoin to skyrocket. IMO it won't happen.

Topic: I have halted all purchases paying with Bitcoin (Read 2682 times)