Topic: i just bought another bitcoin (Read 2825 times)

you make a good point. 50 bn zimbabwe is like 10 usd. maybe mbtc or something is a fair unit which keeps its value

If you say it like that then it makes it sound like bitcoin is worth less then it really is.

800,000,000 satoshi  sounds better

I will buy bitcoins at any time other than when the price is doubling in less than a 7 day period of time.

This is a valid point, however, I think you're forgetting the solution of switching to a standard denomination of mBTC. Some services such as bitcoinity already have. You can see people buying 1mBTC for $0.657. I recently bought 180 mBTC for my girlfriend for $100. This is what we need to gravitate toward.

Andreas Antonopolous touches on the unit bias issue sometimes, but it needs to be taken more seriously. You can start doing your part by referring to your stash of whole bitcoins in mBTC.

Pretend you own 8 BTC. Your friend asks how many bitcoin you have. You say, "I have 8,000 mBTC."

I can't wait until the bitcoin marketcap is finally high enough when we get past this silly notion of having to buy "whole" bitcoins, like whole round numbers really matter.  That holdover notion goes back years, when you bought coins in tranches of 100s, thousands, or even tens of thousands.  I still have friends who ask me, "Did you really buy a whole bitcoin for $500?  Isn't that a lot of money to spend?"

Part of the problem also lies with broker services like Coinbase, that denominate all purchases in btc (or fraction of btc).  In other words, currently you can't just punch in that you want to purchase exactly $47.23 worth of bitcoin directly into their web interface.  They should fix that pronto.

The Joe Public has to get past this notion of having to buy either whole bitcoins, or buying nothing (because they say they can't afford it.)  We need Joe Public to understand that they can buy $0.09 worth if they want.  Or $5 worth.  Or $103.76 worth.  It doesn't matter how much you buy, it'll likely appreciate long term no matter what.  Quadrupling your money on $2.50 is just the same as quadrupling your money on $2500.  As is quadrupling your money on $452.78 worth of bitcoin.

We need the script to change from "I just bought another bitcoin" to "I just bought $655.57 worth of bitcoin."

I think the psychological barrier will be finally broken when a single btc gets back into the 4 digits USD and well into it.  Hopefully.  By 5 digits, hopefully people won't even care anymore what the exchange rate is.

It's good to see there is still pro buy sentiment even in the $600s. I guess I haven't quite gotten through the anxiety stage (hope it's a stage) where I'm too late to get more because it's going up.

I do accept there will be another downturn. Any thoughts on how low it's realistically likely to go the next time it drops, and/or what price it'll be dropping from?

Also, what is the new all time low that would make it difficult for bitcoin to recover, as in people get spooked from buying more?

Oops I just did it again too. This is becoming a serious addiction - but a profitable one I hope When I bought my 1st one, I thought that was it... now I can't stop. I know my tiny stash is miniscule compared to those with hundreds or thousands, but it's exciting for me.

You're all deluded, bitcoin's never going over $100 again...

oops, sorry! thought I was back in 2013.

Are you just being pessimistic so you don't get disappointed?  You know BTC is going way higher than $1,000.  The momentum in the industry is becoming scary.   At this point its impossible for BTC to not fill nearly all the hopes and dreams of its founders.

-B-

oops I did it again, I bought a bitcoin, got lost in the game...

This is the right time to buy all the bitcoins we can afford, the downtrend is finished and in the next months the value will reach new all time highs.

buy more coins anyway.

Yesterday i was in a poker tournament. $5 buy in, 567 participants.

I was doing very well, keeping a top 5 position most of the game. Ended up 13th place, sadly, by a bad beat. (Had 10 10 hand, called a raise from late position, flopped a 10, so i placed a bet of half my stack, he raised me allin, i called of course. The turn brought him a straight).

I was planning on cashing out if i landed in the top 5, price money for top 5 positions was over $100 (1st place was $700), would have bought bitcoin with it. But 13th place didn't pay very well. ($25 or so)

Either way, I'm already full bitcoin atm.

i just did it again.

price dropped from 670 to 630 last night and i bought another coin.

i cant stop buying coins!

i'm outta control!!  lol

+1 isn't this the point!?

If it's gone mainstream, you might as well stick around to enjoy the host of benefits. But sure, you're welcome to go back to your archaic fiat, ACH, SWIFT old school inefficient and wealth diluting banking model. It's your call!

ya same, then when its mainstream enough, i'll just start dumping every pay check into bitcoin and close my bank account , why pay banking fees??? 

What's a good selling point to buy? Huh?

My brother gonna do the same, its his first bitcoin!
I hope the price doesnt rice to quickly before he has the money to buy one.
But if you buy now what is a good selling point?

If it does then I hope that I'm actually holding bitcoins at the time. I've spent a lot of time in fiat lately. I'm overly cautious and for that reason I'm not at extreme gains/losses.