losing faith | Bitcointalksearch.org

blackvoice

newbie

Activity: 56

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Quote from: ssitch on April 10, 2014, 09:50:54 PM

Long time lurker and hodler, first time poster.

I just bought a small amount of btc to purchase a product without dipping into my larger storage. By the time the btc got from the exchange to the market wallet, my btc were no longer valuable enough to purchase the product I desired.

Can someone remind me why btc is master currency?

because it's the first virtual coin

billysweird

newbie

Activity: 56

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Quote from: ssitch on April 10, 2014, 09:50:54 PM

Long time lurker and hodler, first time poster.

I just bought a small amount of btc to purchase a product without dipping into my larger storage. By the time the btc got from the exchange to the market wallet, my btc were no longer valuable enough to purchase the product I desired.

Can someone remind me why btc is master currency?

While I take Coinbase as an example here, there aren’t many trustworthy and easy-to-use services to make Bitcoin transactions yet — and all services have flaws. People ask me all the time how they could buy bitcoins, and I don’t have a simple answer.

bitebits

legendary

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Flippin' burgers since 1163.

Quote from: vipgelsi on April 20, 2014, 10:50:46 AM

Quote from: ssitch on April 10, 2014, 09:50:54 PM

Long time lurker and hodler, first time poster.

I just bought a small amount of btc to purchase a product without dipping into my larger storage. By the time the btc got from the exchange to the market wallet, my btc were no longer valuable enough to purchase the product I desired.

Can someone remind me why btc is master currency?

We wouldn't have this problem if venders would just keep the bitcoins and not exchange them to cash but I guess they have to pay there bills to.

In the long run, with a deflationary currency, that wouldn't work either. Your (merchant) products would get ridiculously expensive.

RUEHL

full member

Activity: 126

Merit: 100

i had the same problem using BTC as currency. i'd send the sufficient funds to a particular wallet for deposit. and within hours, i'd be fluctuated out of the purchase price. i've just learned to put about 10% more into my wallet to accommodate for the fluctuations.

Jean Derek

newbie

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Superior thinking demonstrated above. Thanks!

Team Building Activities Melbourne
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vipgelsi

legendary

Activity: 1736

Merit: 1001

Quote from: ssitch on April 10, 2014, 09:50:54 PM

Long time lurker and hodler, first time poster.

I just bought a small amount of btc to purchase a product without dipping into my larger storage. By the time the btc got from the exchange to the market wallet, my btc were no longer valuable enough to purchase the product I desired.

Can someone remind me why btc is master currency?

We wouldn't have this problem if venders would just keep the bitcoins and not exchange them to cash but I guess they have to pay there bills to.

karatikus

newbie

Activity: 8

Merit: 0

Quote from: agf on April 20, 2014, 03:50:43 AM

Quote from: Dr.Zaius on April 20, 2014, 02:07:03 AM

The OP talks about wanting to spend his BTC.

The responses are referencing getting rich quick and remembering the past dips rebounding.

Hilarity.

They don't care, just say the same all the time, to the moon blah blah.
English is not my main language, but was pretty easy to understand what OP was saying. He wanted to buy something with BTC, in the process of getting bitcoins and doing the transaction the price changed.

Yes, no one can really say what the price of bitcoin is going to do. It would seem most practical to me for a 'believer' to have a buffer wallet with spend-ready coins, then aim to replace them through exchanges or something like local bitcoins (although this all depends on personal finance etc.).

It seems odd that the OP would not at least have perceived the risk of his bitcoin value decreasing through the time taken to undergo the transaction via exchanges, though? Even through local bitcoins it can take up to a few hours depending on the availability of the seller. You can't just lose faith over something that is common knowledge and experience?

I think people are forgetting how early it is still. Nearly 50% of the UK or something daft like that want to ban it because they don't understand it. So much uncertainty still.

Just my opinion, of course.

~kp

agf

member

Activity: 126

Merit: 10

Quote from: Dr.Zaius on April 20, 2014, 02:07:03 AM

The OP talks about wanting to spend his BTC.

The responses are referencing getting rich quick and remembering the past dips rebounding.

Hilarity.

They don't care, just say the same all the time, to the moon blah blah.
English is not my main language, but was pretty easy to understand what OP was saying. He wanted to buy something with BTC, in the process of getting bitcoins and doing the transaction the price changed.

Dr.Zaius

newbie

Activity: 28

Merit: 0

The OP talks about wanting to spend his BTC.

The responses are referencing getting rich quick and remembering the past dips rebounding.

Hilarity.

Swordsoffreedom

legendary

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Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: bryant.coleman on April 18, 2014, 05:09:03 AM

Volatility is a big problem with Bitcoin. Every now and then it gives an impression that the prices have stabilized. Then some bad news (or just some rumors) will come in and crash the prices.

True enough although the badest news has more or less arrived already so what is left is the stabilized low trough

bryant.coleman

legendary

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Volatility is a big problem with Bitcoin. Every now and then it gives an impression that the prices have stabilized. Then some bad news (or just some rumors) will come in and crash the prices.

shawshankinmate37927

hero member

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Bitcoin: The People's Bailout

Quote from: ssitch on April 10, 2014, 09:50:54 PM

Long time lurker and hodler, first time poster.

I just bought a small amount of btc to purchase a product without dipping into my larger storage. By the time the btc got from the exchange to the market wallet, my btc were no longer valuable enough to purchase the product I desired.

Can someone remind me why btc is master currency?

You should just stick with fiat. Bitcoin isn't for the faint of heart and will continue to be volatile at these low valuations.

gagalady

legendary

Activity: 938

Merit: 1000

If you have some extra money exactly for bitcoins buy few of them and hold them without headache doesnt matter if they fall or rise. If you want to invest into bitcoin you'll lose or get alot more. Nothing more to predict here.

DubFX

sr. member

Activity: 434

Merit: 250

Quote from: Swordsoffreedom on April 16, 2014, 03:12:15 AM

Quote from: DubFX on April 16, 2014, 03:10:12 AM

Quote from: counter on April 16, 2014, 02:59:52 AM

Think about why you got into BTC and forget about the price for a sec. Is a short term loss as bad as not having access to the technology in the long run. if the price shoots up are you gonna care a about this issue that much?

Its shoot up is already in progress.

Indeed it made a nice move upwards

(As an aside elephant avatar is tempting me)
Raise that trunk up to the moon XD

Elephants honking to the moon Cheesy

but there's also som bumping so we are around 510$ sadly hopefully it will stabilise at 550 till tommorow.

Swordsoffreedom

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Leading Crypto Sports Betting & Casino Platform

Quote from: DubFX on April 16, 2014, 03:10:12 AM

Quote from: counter on April 16, 2014, 02:59:52 AM

Think about why you got into BTC and forget about the price for a sec. Is a short term loss as bad as not having access to the technology in the long run. if the price shoots up are you gonna care a about this issue that much?

Its shoot up is already in progress.

Indeed it made a nice move upwards

(As an aside elephant avatar is tempting me)
Raise that trunk up to the moon XD

DubFX

sr. member

Activity: 434

Merit: 250

Quote from: counter on April 16, 2014, 02:59:52 AM

Think about why you got into BTC and forget about the price for a sec. Is a short term loss as bad as not having access to the technology in the long run. if the price shoots up are you gonna care a about this issue that much?

Its shoot up is already in progress.

counter

hero member

Activity: 798

Merit: 500

Time is on our side, yes it is!

Think about why you got into BTC and forget about the price for a sec. Is a short term loss as bad as not having access to the technology in the long run. if the price shoots up are you gonna care a about this issue that much?

semaforo

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Activity: 728

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Quote from: zeeshanblc on April 13, 2014, 02:47:09 AM

price will go up at the end, I think gambling will save it. It has the most potential in gambling industry.

this is true. online gambling is estimated at 417 billion industry. If bitcoin took over 1% of this, it is 4.17 billion increase in market cap. Global drug trade is estimated at 321 billion. 1% of this is 3.2 billion increase. global porn industry is estimated at 96 billion. 1% of this would be about 1 billion.

If bitcoin took over 1% of these industries, which it really will probably take more than 1%, this would increase the market cap by as much as 8 to 9 billion taking bitcoin to a new all time high. The world would be a better place if people didn't spend so much time and money with these things, but still, I am just saying, it is really difficult to imagine a scenario where bitcoin is not firmly above 1 to 2 kin exchange value a year from now- unless the internet is somehow destroyed.

zeeshanblc

sr. member

Activity: 390

Merit: 250

price will go up at the end, I think gambling will save it. It has the most potential in gambling industry.

jdun

member

Activity: 84

Merit: 10

It could equally have happened the other way. You could have purchased bitcoin for $400, and then it was worth $430 when you went to pay for your item and that gives you some extra change. Don't let one transaction ruin your faith.

Topic: losing faith (Read 3305 times)