Topic: Reasons to HODL! - page 4. (Read 7655 times)
What's the network effect of USD? Think any crypto can overcome that?
It's not easy to upgrade from IPv4 to IPv6. It's not easy AT ALL to move from TCP/IP to another protocol.
Very easy to move from bitcoin to futurexxxcoin. It's a simple program on a machine that you can delete. Install another.
It's still very easy to move from bitcoin to any alt-coin, try it and see the difference
When you go from IPv4 to IPv6 you are gaining more features and will have more security
The problem here is not how hard it is to switch.
But if it will be worth to switch. That is what network effect is about.
Yes, you can switch over to laserdisc.
But how many people did switch from vhs to laserdisc?
Very few, why? Because they couldn't really find many titles to watch, why? Because not many people was adopting it.
The network effect of bitcoins will have the same effect.
You might be able to exchange it to litecoins or dogecoin, but if there aren't stores that accept it and there are no people who wants it, nobody will be exchanging it to that currency.
On the other hand, if another currency becomes popular (let's say dogecoin), regardless of how inferior it is technically, if it becomes extremely popular commercially, it will become dominant.
The only thing that matters is the network effect, its adoption rate.
The moment to compete against bitcoins is right now.
If there isn't a challenging altcoin in the following years, it will be really hard, even impossible, to take bitcoin down.
There are two aspects that fuels the network effect: a new conformity and a cognitive inertia.
Maybe one day I will have a chance to buy 10K coins and get into top 100 
Cheaper coins, wider will adoption go. More people will buy BTC. Perfect for all. If bitcoin would be 1 million dollars, then only Bill Gates would be able to afford it. Adoption would totally stop then.
It depends on how people receive such news.
For bitcoiners it may look cheaper bitcoins.
For the laymen it looks like market failure.
True, but similar trends have happened in the past, so might not always mean cheap coins for the bitcoiners. A lot of the laymen argue and do not understand the high price of the coin.
If every one just simply buy and hold the coin for a couple of years and then spend them slowly, it will guarantee a price appreciation long term wise. This is just simple math, as sound as bitcoin's protocol
It's not easy to upgrade from IPv4 to IPv6. It's not easy AT ALL to move from TCP/IP to another protocol.
Very easy to move from bitcoin to futurexxxcoin. It's a simple program on a machine that you can delete. Install another.
It's still very easy to move from bitcoin to any alt-coin, try it and see the difference
When you go from IPv4 to IPv6 you are gaining more features and will have more security
Maybe one day I will have a chance to buy 10K coins and get into top 100
Cheaper coins, wider will adoption go. More people will buy BTC. Perfect for all. If bitcoin would be 1 million dollars, then only Bill Gates would be able to afford it. Adoption would totally stop then.
It depends on how people receive such news.
For bitcoiners it may look cheaper bitcoins.
For the laymen it looks like market failure.
Maybe one day I will have a chance to buy 10K coins and get into top 100
Cheaper coins, wider will adoption go. More people will buy BTC. Perfect for all. If bitcoin would be 1 million dollars, then only Bill Gates would be able to afford it. Adoption would totally stop then.
It's not easy to upgrade from IPv4 to IPv6. It's not easy AT ALL to move from TCP/IP to another protocol.
Very easy to move from bitcoin to futurexxxcoin. It's a simple program on a machine that you can delete. Install another.
It's still very easy to move from bitcoin to any alt-coin, try it and see the difference
jeje +1 man, btw about whats teh reason to hold it, this is so simply, because ppl who want to hold it beleive on it... and i mean that they think that BTC will grow up soon or later.
It's not easy to upgrade from IPv4 to IPv6. It's not easy AT ALL to move from TCP/IP to another protocol.
Very easy to move from bitcoin to futurexxxcoin. It's a simple program on a machine that you can delete. Install another.
It's still very easy to move from bitcoin to any alt-coin, try it and see the difference
Maybe one day I will have a chance to buy 10K coins and get into top 100
We are now below 300 USD
I think the above will also result in more merchants start to accept bitcoin which will lead to more short term price declines. However over the long term it will lead to more people adapting bitcoin and using it on a regular basis which will cause long term price increases.
For broad acception a low price is advantageous, or does anybody out here is buying grocery using gold bars?
Even seen two long term forum users shying back from a bet over 0.1 BTC since the wager would have to be over some several weeks and nobody would know the value of the wager. This uncertainity was enough to step down from doing so.
yeah! there's a reason big companies are adopting it, despite the price plunge
And now is the prime time of adaption, companies will buy in due to low prices and expect to make ROI in the future. I'm expecting the boom any day now 
Agreed. Market manipulation right now, plain and simple... The manipulators make bag holders and want you to sell so they can scoop up all the cheap coins and then drive the price back up. Rinse and repeat. Smart money is buying right now, not selling...
Every time this happens we get the parrots squawking about how Bitcoin is dead and about how many problems it has. Ignore them.
I am not so sure about market manipulation. The life cycle of the value of something like bitcoin is something that economists have likely never seen before as it is essentially the first of it's kind. Every time this happens we get the parrots squawking about how Bitcoin is dead and about how many problems it has. Ignore them.
I think what we are seeing now is people selling via merchants who would not have otherwise sold. This is resulting in the miners having more of an incentive to sell because their costs are denominated in dollars (electricity).
I think the above will also result in more merchants start to accept bitcoin which will lead to more short term price declines. However over the long term it will lead to more people adapting bitcoin and using it on a regular basis which will cause long term price increases.
I am surprised that I had to spell it out.
Why are you surprised? The vast majority of people here are not network engineers.
Nothing I said requires an engineering degree.
I'm a network engineer as of 2006 - which means I understand what you are saying - but I don't have an engineering degree.
All the means is I can understand bullshit. Bitcoin suffers from a long block time (10m) and a large block chain (20gb).
Please tell me how I am mistaken using you non-engineering degree words.
i see that you are a "Legendary" member but maybe you missed something here? there are already solutions for that and there will be more ways to deal with that.
these 2 points are the easiest problems.
It is actually ridiculous to hear such a contradicting guy.
I am surprised that I had to spell it out.
Why are you surprised? The vast majority of people here are not network engineers.
Nothing I said requires an engineering degree.
I'm a network engineer as of 2006 - which means I understand what you are saying - but I don't have an engineering degree.
All the means is I can understand bullshit. Bitcoin suffers from a long block time (10m) and a large block chain (20gb).
Please tell me how I am mistaken using you non-engineering degree words.
i see that you are a "Legendary" member but maybe you missed something here? there are already solutions for that and there will be more ways to deal with that.
these 2 points are the easiest problems.
I allready lost alot the 150$ worth I bought last week @ 455.79 CAD is now worth 112.18 CAD (was 140) completly screwed me over this drop I really really hope it goes back up... atleast make it worth 130.. sucks so bad
Start using those BTC to accumulate more BTC.
If/When the price goes back up, you'll have more.
I think I am screwed.. never ment to have the btc this long.. Spent all the money I had/have on it
I allready lost alot the 150$ worth I bought last week @ 455.79 CAD is now worth 112.18 CAD (was 140) completly screwed me over this drop I really really hope it goes back up... atleast make it worth 130.. sucks so bad
Start using those BTC to accumulate more BTC.
If/When the price goes back up, you'll have more.
I allready lost alot the 150$ worth I bought last week @ 455.79 CAD is now worth 112.18 CAD (was 140) completly screwed me over this drop I really really hope it goes back up... atleast make it worth 130.. sucks so bad
Is anyone know why BTC is so low ATM, only 308$ on BTC-E? sorry because some days i didn't access to the crypto world.
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