Topic: I'm ALL in! (Read 11076 times)
We are all here for one reason or another. Undoubtedly we like what we see in Bitcoins. Don't put all your eggs in one basket, buddy. If Bitcoins were made to be illegal through legislation, thing can go out of control real fast. Stay vigilant.
I think you're missing the point.. I don't care what bitcoin does today or tomorrow, its about what it will be doing a year from now, or 10 years. The only thing that sucks right now is that I can't buy more while they're on sale, I don't have any more money 
You're a lunatic.I see nothing wrong with investing your liquid assets into Bitcoin - it is not unreasonable to assume that given the recent incidents buying them now is a rather smart move for everyone who believes in their long-term potential.
haha, how does it feel to be royally fucked in the ass?
You're a lunatic.
haha, how does it feel to be royally fucked in the ass?
I was a buyer for pennies before, it seems a hell of a lot better deal after you've actually seen prices this high.
As long as the network is still secure and I keep seeing the massive effort being put into developing bitcoin, buying bitcoins for pennies is great sale! I'm not sticking with bitcoin because of what its doing today, I'm sticking with bitcoin because of the long term potential I see in it.
+1I know it has been said before but this is a great project and it is always good to see others are as committed as oneself. There is great potential in Bitcoin and working on a project with so many talented people who have a vision is truly amazing.
I do not condemn anybody who is just here for a quick buck because IMHO that's one of the beauties of Bitcoin: it works successfully even if most people don't care about the system and only use it based on rational profit-driven thought.
I'm not going anywhere! The price can drop to pennies, I will still support bitcoin! I believe in the system and so I can look beyond the price. My only real concern would be the degradation of the network via hacking/glitches.
I admire your enthusiasm, but even you must have been quite scared to see BTC's value drop from $31 to $10 within 2 days. If the price dropped to pennies I doubt you would still support BTCs.
I am a miner looking to get back my hardware investment as soon as possible, and I can't tolerate massive swings in price. BTCs could be at $10 tomorrow once again. I sell my BTCs as soon as I produce them to avoid risking holding the bag should the whole deal fall over. This means I miss out on the potential gains from the difficulty rate going up. You're the person who could make a lot of money on my mining by going long. I wish you well and hope it's profitable if indeed you have converted all your money to BTCs.
As long as the network is still secure and I keep seeing the massive effort being put into developing bitcoin, buying bitcoins for pennies is great sale! I'm not sticking with bitcoin because of what its doing today, I'm sticking with bitcoin because of the long term potential I see in it. If I was here for the quick bucks, yeah, i WOULD be scared. And yea, I just ordered parts for my first real mining rig.
by the way Cluster2k, how close are you to getting your mining gear paid off? how long did you think it would take?
I'm not going anywhere! The price can drop to pennies, I will still support bitcoin! I believe in the system and so I can look beyond the price. My only real concern would be the degradation of the network via hacking/glitches.
I admire your enthusiasm, but even you must have been quite scared to see BTC's value drop from $31 to $10 within 2 days. If the price dropped to pennies I doubt you would still support BTCs.
I am a miner looking to get back my hardware investment as soon as possible, and I can't tolerate massive swings in price. BTCs could be at $10 tomorrow once again. I sell my BTCs as soon as I produce them to avoid risking holding the bag should the whole deal fall over. This means I miss out on the potential gains from the difficulty rate going up. You're the person who could make a lot of money on my mining by going long. I wish you well and hope it's profitable if indeed you have converted all your money to BTCs.
Stil feeling confident triforce?
I was going to ask him the same thing.
I'm not going anywhere! The price can drop to pennies, I will still support bitcoin! I believe in the system and so I can look beyond the price. My only real concern would be the degradation of the network via hacking/glitches.https://en.bitcoin.it/wiki/Incidents
https://en.bitcoin.it/wiki/Weaknesses
Stil feeling confident triforce?
I was going to ask him the same thing.
I'm not going anywhere! The price can drop to pennies, I will still support bitcoin! I believe in the system and so I can look beyond the price. My only real concern would be the degradation of the network via hacking/glitches.Stil feeling confident triforce?
I was going to ask him the same thing.
I'm not going anywhere! The price can drop to pennies, I will still support bitcoin! I believe in the system and so I can look beyond the price. My only real concern would be the degradation of the network via hacking/glitches. 
I was going to ask him the same thing.
Stil feeling confident triforce?
The biggest issue facing bitcoin, is that there's nothing to stop a "bitcoin 2" from entering the market.
Actually, there is. It's called the "first to market" advantage. It's why VHS beat out Betamax in the consumer marketplace even though everyone agreed that Betamax was both a superior format and at least as cheap to mass produce. Anyone can try to replicate Bitcoin, but without a significant and obvious advantage to users, it's market uptake will never approach Bitcoin's.
VHS didn't win as they were 'first to market' - in fact the whole first to market thing isn't really that big a deal. Apple weren't first to market with MP3 players, smartphones, laptops etc. Google weren't the first online search engine. In fact if you pick pretty much any technology the first to market has vanished into history and is possibly only surviving as a name branded on a successors products.
Just look at the brands around you in your room - how many of them can you genuinely say were first to market?
Just looking at replacements for cash - you got a Diners club card in your wallet?
Just keep in mind that I (and probably the vast majority of people who have thrown their savings into bitcoins) are in this for the long run. The shutdown of mtgox no doubt would leave a huge hole in bitcoins, but in the long run i see bitcoin recovering and moving far beyond.
Yes, but there is a long time between now and the longrun. Meanwhile you have to eat and pay rent. Just keep in mind that I (and probably the vast majority of people who have thrown their savings into bitcoins) are in this for the long run. The shutdown of mtgox no doubt would leave a huge hole in bitcoins, but in the long run i see bitcoin recovering and moving far beyond.
Yes, but there is a long time between now and the longrun. Meanwhile you have to eat and pay rent. I also think that a ban on the US bank accounts of MtGox is imminent. And this will almost certainly crash the price of Bitcoin. However, as you say that will not destroy Bitcoin. In fact it will make it stronger. However, people that have invested all their savings into Bitcoins, and worse who have actually over-leveraged themselves to purchase Bitcoins, will no doubt get hurt badly.
Just keep in mind that I (and probably the vast majority of people who have thrown their savings into bitcoins) are in this for the long run. The shutdown of mtgox no doubt would leave a huge hole in bitcoins, but in the long run i see bitcoin recovering and moving far beyond.The biggest issue facing bitcoin, is that there's nothing to stop a "bitcoin 2" from entering the market.
A lot of people here are mining, trading and we're all happy as Larry that the price is going through the roof.
A lot of people here are mining, trading and we're all happy as Larry that the price is going through the roof.
You think that this competitor will just come out of the blue? it has taken bitcoin over 2 YEARS to get to where it is today. Infact there already are talks of new systems being developed such as ripple: http://forum.bitcoin.org/index.php?topic=3557.0 better yet, these systems just might merge to form an even better online currency.
Well I don't know about US but most hardcore Europe users moved away from torrents to news groups. And that's a fact
Newgroups are old tech, that were re-adopted to accomodate torrents. I can use either in my bittorrent client, but the only advantage that newsgroups have is that they aren't often trottled by ISP's. Bittorrent can be trottled, even in the US, but this is only somewhat effective. I get entire OS updates this way, and download entire netshows.
The biggest issue facing bitcoin, is that there's nothing to stop a "bitcoin 2" from entering the market.
Actually, there is. It's called the "first to market" advantage. It's why VHS beat out Betamax in the consumer marketplace even though everyone agreed that Betamax was both a superior format and at least as cheap to mass produce. Anyone can try to replicate Bitcoin, but without a significant and obvious advantage to users, it's market uptake will never approach Bitcoin's.
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