Topic: Let me be clear! (Read 941 times)

(emphasis mine)

Hindsight is always twenty-twenty, which can be a byatch sometimes. If you're actively daytrading (hopefully on an exchange that doesn't lag badly when trade volume surpasses 2000 satoshi per hour ), selling hoping to buy back profitably at a (significantly) lower price is a perfectly reasonable strategy. I'm not having a go at those who know what they're doing and attempt this (I was doing it myself on BTC-e not so many moons ago); the only beef I have is if anyone is naïve enough to believe that such strategies aren't gambling (because you don't know the price will dip x per cent until after the fact). Same deal applies to buying at a loss on the way up from a trough in which one sold low.

In the bitcoin marketplace, history tends to suggest that a simple buy and hold strategy (cold storage, we love you), while perhaps far from perfectly optimal, is probably still by far the best (and least stressful) route for non-super-expert daytraders. As for the exchange rate determining buying power when paying BTC to a BitPay site, etc., yes, obviously the $ price is important there, but TBH I was spending my bitcoin when I wanted/needed to, even when the exchange rate was <$15. I actually chuckle about recently buying a whole year's VPN abonnement for about 320 mBTC, when I paid 530 mBTC for a month's access with the same company in January!

But, if you buy and hold BTC1, then the price gyrates on Gox, you still always have BTC1. Another analogy: you buy a gold nugget for $600. You are now $600 poorer and one gold nugget richer. So if the official (scoff) spot price of that gold nugget changes to $700 or $500 whatever... nothing has changed, see preceding bold statement, which still applies.

Welcome to Bitcoinia, buckle up and enjoy the ride.

Of course it matters. It means you could have sold, waited and bought back and gotten more coins than you had. And pretending that dollar prices are irrelevant because they are "bankster fiat" is just incredibly disingenuous.

Yeah, and despite all the moves toward totalitarianism in recent years, it is still good that so many ordinary folk still have their own guns in the US. Maybe the revolution will (once again) begin in America after all.


Meh, the Winklevoss twins [claim to] have about 1 per cent of all bitcoin now, and that makes bitcoin "cool" to the masses. Though those guys and their funny Dutch-like name bring to my mind:

(sing to the tune of the Milky Bar Kid TV advertisement)
The Winklevoss twins are strong and tough
And only bitcoin is good enough...
(improvise the rest if you'd like! )

All well and good in theory but in practice... 

you is 100% right and also a 100% wrong as well. I isn't stupid, I understand the beauty of something like bitcoin, it took 100,000 years of mankind evolution to come up with something like this so I don't underestimate it. however, the banksters have all the guns by proxy and also the general populace more phazed by pop idol to really care about anything of real weight. odds are stacked against us m*fudger

Cowards will never listen so please don't try to explain.. Being in stocks for years its one thing I learned... MOST PEOPLE can be easily manipulated! Its just the way of the world. While the regular folks  are scared of going broke , the millionaires are BULLISH ALL THE TIME. So just save your comment and have the last laugh.

(OT: none of my friends really believe I look at all like President O'Bummer. I always thought I look a bit like him, however.)

Remember, folks, the blockchain is doing well during this holiday selloff. Unless you're actively involved in a bitcoin trade (bid, ask, purchase tangible goods whose price is fiat-indexed) in the here and now, the exchange rate posted on Gox et al doesn't matter one jot. I know, it's hard to absorb at times, for almost all of us, I surmise.

And, even if we dip to 40 bucks in the coming days or weeks, never forget this:

Bitcoin >>>>>>>>>>>>>>> Bankster Paper.

Over and out.