Topic: I'm riding this ship to the end. (Read 1267 times)

It'll come a lot sooner than you imagine. It won't disappear but it will not longer be as prevalent nor looked upon the same way as we do today. Perhaps I slam the dollar more saying this than any other currencies, but it has to go. It was born through evil and exists to do evil. The federal reserve banksters have to go. I for one am glad they are tapering so that we may finally cleanse ourselves of the money junkies and begin rebuilding the financial system; one that adapts to our digital way of life. Sad that everything is tied to the USD which will shake things up, literally. When the people get slapped with the reality that the emperor has no clothes, it won't matter what they say about fiat. They'll start exiting fiat into safe havens (as are some today at record numbers that the mints and shops can't keep up with the demand).

It's only really down on mt GOX when most people can't buy from...ie folks on the USA and you still can't withdraw. So you can't base BTC price on mt GOX anymore. It's still above $600 on Coinbase.

Fiat will probably be around a long time because you never know what might happen after fiat reserve collapses. Some people say gold and silver will take over but how do you buy stuff on amazon with gold and silver? We will always have gold, silver, fiat and crypto. All 4 will always exist.

The derivatives bubble, the housing bubble, the fiat bubble..etc, etc are all beginning to pop. Hell, Canada's housing market is about to pop. If we want a much better financial and economic system, the old one HAS to go. Can't overlay on top of it nor work along side it because they go against each other. Those who argue that both can thrive fail to see the bigger picture. You can't have an oil company be successful if solar or hydrogen cars win. Only way they will be successful is IF they abandon the oil industry and jump into solar, thus tossing them out of the oil industry all together. Same goes for our banking system.

Yes we have a tsunami coming at us and it will catch a lot of people of guard, just like the Sumatra tsunami back in 2004. Those who were wise and read the signs, got the fuck out of there and ran while those who didn't got caught in the eye of it all. The signs are there but most people are ignorant, delusional, or lost.

As the OP wrote; this isn't an investment but rather a savings account. Those who see it as an investment need to look at it on a longer scale and not short. Government has little to do or say in terms of this. It is now too late to try and do anything about it as if they wanted to take action against BTC, they should have done so right after it was born. The only way they can stop BTC as of writing this is by shutting down the internet. But if they do that, they will also shut themselves down too, which I doubt very much they are inclinded to do. They can stand back and accept it or get run over by it.

Invest or keep your investment into bitcoin for the right reason. Greed driven hope for higher and higher BTC to fiat currency exchange ratios is not the right reason, definitely. To keep an investment into the bitcoin-net as the worlds most sophisticated and trustworthy, distributed consensus and asset managment entity , owned by nobody, will open up so many opportunities the upcoming years no one can't even dream of. For sure!

the tide appears to be going out and people are worried about where the water is going...

... but soon enough the wealth tsunami will come in and the wave will go further then the tide ever has before.

so look after your ship and keep a look out for when the tides change,

perhaps I was off by a week..

^^^ This

Fiat currency is designed to fail...whenever a government borrows money they (central bank) print it out at interest, but never print the money to pay the interest... it's the best scam the world has ever seen.

Haven't even looked at the price yet. And I won't, not soon anyway.

I traded my fiat for bitcoin, not all of it, but using it as my own savings account. I never made an "investment".
That's where people get it all wrong.

Not sure what OP means but it's inevitable that fiat currency will survive any longer. 2013 we celebrated the 100 year anniversary of the Federal Reserve. Most reserve currencies don't last forever and sooner or later they collapse. It is crumbling before our eyes. Tapering ha begun and the money junkies are showing signs of withdrawals. Why is there unrest in places like Ukraine, Venezuela, Argentina, Turkey, Thailand, Bahrain, etc, etc. Banksters being 'suicided' and it seems it will not stop anytime soon. It is crumbling no matter how you look at it. Crypto will replace our fiat monetary system, and even if BTC doesn't succeed, some other crypto will. People have had it with our current paradigm. Before the end of the decade, we will be living in a completely different world than today.

Both. I mean, isn't that what Bitcoin is, a currency?

Me too, and I'm one of the folks that bought at a 1000.  I've just been adding to the position, but only have 7k left of fiat.  I'm waiting for the 300's now.. If it doesn't go that low.. then Oh well, will just add a little more on the way up.  

What do you mean to the end will you be using Bitcoin as a main currency and drop fiat all together or do you mean you are going to invest and sell at a later date for a higher price?

This is what I keep telling people; ride it out. If you really believe in BTC and what it stands for, you will not budge nor crumble. Look at it as an opportunity for others to buy while it still is more or less accessible to the average joe which thus will spread BTC and its integration. If it goes up to say $2K, then that will drive average joe out, although he still can buy in lower denominations, and the big dogs at that point will begin jumping on it. But it really is as you put it; ride it out.

It is good for BTC to get these kinks ironed out while still in its infancy before it goes mainstream. Could you say it still is in beta? Kind of, but with each day it matures and grows beyond what it was initially imagined. Take the internet when it first came out and look at the bumpy road it had. Same thing. The naysayers will be wrong as usual and be kicking themselves in the face later XD

Price keeps crumbling..