I have halted all purchases paying with Bitcoin - page 2.

lemipawa

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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.

Anmol_Verma

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Quote from: erikalui on October 10, 2015, 07:28:31 AM

I value gold more than bitcoins TBH as Gold isn't just a commodity for me but it is more like a protection for my family and is more valuable than bitcoins. I am not being a pessimist but I don't think the price will reach even $500 in the next 2-3 years. It may go upto $400 but chances are very low going by the current trend.

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

Bifta

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Quote from: erikalui on October 10, 2015, 11:22:57 AM

That's what even I was trying to say that Gold is a physical item while bitcoins is just a virtual currency. Tomorrow if Gold is worth nothing, I'll atleast be holding a real commodity unlike bitcoins that are just virtual. I want to own PHYSICAL bitcoins and not something virtual in comparison.

+1 Gold is a good store of value. If something happened to the internet like a solar flare took out the world's computers, then gold would still be around I can still trade it for other stuff. Bitcoin is more for investing due to its volatility while gold can be forever.

lemipawa

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Gold is still a good investment if I am to be asked, I think holding Bitcoins for a long time is not a good idea anymore, we have seen the roller coaster changes of its value and I think we have seen the best price of it already, it will never go back to it's glory days anymore.

pereira4

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Quote from: LiteCoinGuy on October 10, 2015, 02:48:26 AM

just hold it and wait 10 years. that is probably a better choice than buying gold.

by the way: in the meantime you can study it further

This. The best a man can do now for his portfolio is stack and stack like a madman. 10 year is the magic time period to hold it and wait for huge things to happen, and in the meantime you may sell a bit if you are feeling lucky into predicting a bubble (for example, the incoming halving). Other than that just hold it imo.

OROBTC

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...

Very interesting replies!

I believe (will check later) that the ONLY thing I have bought with BTC is gold. I already have a lot more gold by value than BTC (BTC is a little under 1% of what I hold).

An issue with spending BTC for me is that there are few products/services that I would want that are available for BTC...

But, I will HODL my BTC as a great long-term speculation.

Betwrong

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🌀 Cosmic Casino

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

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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.

That's the right decision IMO.
Buying gold with BTC you are doing just like many generations before you, they all were buying gold to save their earnings. But investing in BTC, holding it hoping that the price will go up you are up to the whole new level.
Investing in BTC is investing in the future.

erikalui

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Quote from: TastyChillySauce00 on October 10, 2015, 06:54:26 AM

Quote from: LiteCoinGuy on October 10, 2015, 02:48:26 AM

just hold it and wait 10 years. that is probably a better choice than buying gold.

by the way: in the meantime you can study it further

i would rather buying real bitcoin made from gold than holding a bitcoin for 10 years , because the rate of gold always increase

That's what even I was trying to say that Gold is a physical item while bitcoins is just a virtual currency. Tomorrow if Gold is worth nothing, I'll atleast be holding a real commodity unlike bitcoins that are just virtual. I want to own PHYSICAL bitcoins and not something virtual in comparison.

dothebeats

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Quote from: TastyChillySauce00 on October 10, 2015, 06:54:26 AM

Quote from: LiteCoinGuy on October 10, 2015, 02:48:26 AM

just hold it and wait 10 years. that is probably a better choice than buying gold.

by the way: in the meantime you can study it further

i would rather buying real bitcoin made from gold than holding a bitcoin for 10 years , because the rate of gold always increase

Meh, gold has been a nice example of price stagnation for a couple of years. Bitcoin is probably one of the better options if you want a nice investment to hold on for years to come.

n2004al

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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.

Very good and wise decision according to me. The only wrong you have made is the use of it before for those bought. Now just sit and wait. Or wait and see. Only to tell and not to give you mind I have taken this decision time ago. I'm happy to find a friend. Only that me have intention to wait and see about it in long term and not in the near and medium term. I will follow it for sure (I am doing this every day) but I will not use it nor in the near and nor in medium future period.

Hugroll

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im doing exactly what you're doing. But i think im in it for the extremely long run, ill be hodling my coins for atleast 10 years from now, or until bitcoin dies. lets just hope it's not the latter Sad

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bitcoin revo

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Quote from: QuestionAuthority on October 10, 2015, 10:16:46 AM

If you don't think the price of Bitcoin will rise very much but you refuse to use it to make purchases but instead just hold on to it that's a self fulfilling prophesy. By not using Bitcoin everyday you are guaranteeing that Bitcoin never has any value to merchants which will decrease its market value.

Exactly. Too many people nowadays just store large amounts of bitcoins into cold wallets; you guys need to understand that the value of bitcoins depends on the people who use bitcoins. If everyone decides to not use them, then were would we be?

QuestionAuthority

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You lead and I'll watch you walk away.

If you don't think the price of Bitcoin will rise very much but you refuse to use it to make purchases but instead just hold on to it that's a self fulfilling prophesy. By not using Bitcoin everyday you are guaranteeing that Bitcoin never has any value to merchants which will decrease its market value.

We already have enough businesses that have stopped accepting Bitcoin. We don't need people to stop attempting to spend it too.

http://time.com/money/3658361/dell-microsoft-expedia-bitcoin/

http://www.newsbtc.com/2015/10/04/bitcoin-takes-a-back-seat-in-australia-merchants-stop-accepting-it/

http://bitcoinvalue.net/reasons-behind-the-2015-catastrophic-bitcoin-price-crash/

VirosaGITS

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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.

Which is fine, like i said, Gold is a good store of value. But unlike BTC, its not a risk investment that can raise in value greatly. Yes it can also drop in value. The price volatility is good for making money, but it is not a good store of value.

So go ahead with Gold if you want to store value not using volatile currency like USD and BTC. And hold BTC if you're willing to risk your money hoping that BTC succeed.

gentlemand

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Welt Am Draht

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

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?

Why should anyone care about 100 years? It's your next 20-40 that count. That being the case I'd rather be taking a moderated risk on BTC. Inflation adjusted, gold's all time high was three and a half decades ago.

erikalui

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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.

Hellacopter

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I think we can't guess right now if the price of Bitcoin will increase in the future as we wish or not, so holding Bitcoin may working as we expect and perhaps it will not working.
Anyway we can hold some of our Bitcoins and spend the remaining amounts

avatar_kiyoshi

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No one knows about the future, so although the supply is reduce but need a more demand to make a price rise.

Quote from: Possum577 on October 10, 2015, 01:35:20 AM

You probably have as much insight into the future of bitcoin prices as the "veterans and experts" as you call them. The reality is that no one knows what the future holds for the price. Adoption drives all growth, period. If you want to influence the price, spend some time introducing new people to the currency and investment.

I'd love to know how big your pile is...

Agree, especially to merchant, store, and hotel.

kpitti

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Only future will tell you if this was right decision. I am following the same and try to keep as much I can. Looking forward, but it`s hard to predict what will happen.

VirosaGITS

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Quote from: erikalui on October 10, 2015, 07:28:31 AM

I value gold more than bitcoins TBH as Gold isn't just a commodity for me but it is more like a protection for my family and is more valuable than bitcoins. I am not being a pessimist but I don't think the price will reach even $500 in the next 2-3 years. It may go upto $400 but chances are very low going by the current trend.

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.

Topic: I have halted all purchases paying with Bitcoin - page 2. (Read 2682 times)