Today was an historical day for Bitcoin - page 2.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: MAbtc on October 16, 2013, 09:55:49 PM

Quote from: odolvlobo on October 16, 2013, 09:45:25 PM

Quote from: johnmatrix on October 16, 2013, 09:01:22 PM

Its better than the us is more safe now than if there had be a default.

There is going to be a default. All they are doing today is ensuring the we have to suffer through another 3 more months of bad economy and bad politics first.

3 months to default? I'm really not sure about that. I used to underestimate the government's ability to sustain this monstrosity... not so much anymore. It'll be a while. It's okay -- a US default down the road gives us all more time to pick up some more coins on the way.

The US has already defaulted. Germany asked its gold back last year and the US refused to give it back before 2030 or something.

MAbtc

hero member

Activity: 826

Merit: 508

Quote from: odolvlobo on October 16, 2013, 09:45:25 PM

Quote from: johnmatrix on October 16, 2013, 09:01:22 PM

Its better than the us is more safe now than if there had be a default.

There is going to be a default. All they are doing today is ensuring the we have to suffer through another 3 more months of bad economy and bad politics first.

3 months to default? I'm really not sure about that. I used to underestimate the government's ability to sustain this monstrosity... not so much anymore. It'll be a while. It's okay -- a US default down the road gives us all more time to pick up some more coins on the way.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: johnmatrix on October 16, 2013, 09:01:22 PM

Its better than the us is more safe now than if there had be a default.

There is going to be a default. All they are doing today is ensuring the we have to suffer through another 3 more months of bad economy and bad politics first.

johnmatrix

sr. member

Activity: 371

Merit: 250

Its better than the us is more safe now than if there had be a default.

BitChick

legendary

Activity: 1148

Merit: 1001

Quote from: TERA on October 16, 2013, 07:53:19 PM

When I took my position I sure didn't think it was because an apocalypse was about to occur. I thought this bull market was about bitcoin adoption. If the U.S. collapsed, I'd have a lot more to worry about than bitcoin or money - why on Earth would I want that?

Yes. I am perfectly content with a $10 drop in price and having congress approve a deal. I have a feeling it may have been pretty catastrophic for the US otherwise. It will probably still cause some lingering pains for a while as it is. Hopefully the distrust will feed the fire needed to get more Bitcoin adopters.

TERA

hero member

Activity: 728

Merit: 500

When I took my position I sure didn't think it was because an apocalypse was about to occur. I thought this bull market was about bitcoin adoption. If the U.S. collapsed, I'd have a lot more to worry about than bitcoin or money - why on Earth would I want that?

pand70

sr. member

Activity: 476

Merit: 250

Quote from: annette786 on October 16, 2013, 07:06:21 PM

Today, BTC acted like a real reserve currency.

Over the past few days, BTC was clearly ignited by concerns over the dollar.

I don't thing that the dollar had nothing to do with the price movement. Is there anyone that really thought that the dollar might crash or something?
It was the chinese that made the price explode...

foggyb

legendary

Activity: 1736

Merit: 1006

Quote from: derpinheimer on October 16, 2013, 07:16:06 PM

Quote from: TERA on October 16, 2013, 07:14:31 PM

I like how now when we "tank" it means we went back to the price we reached just yesterday.

This mimics attitude from the bubble so perfectly. Like 1 week after people started saying that, collapse.

Superstition is not useful for pricing bitcoin.

sgbett

legendary

Activity: 2576

Merit: 1087

Quote from: TERA on October 16, 2013, 07:14:31 PM

I like how now when we "tank" it means we went back to the price we reached just yesterday.

more like the kind of movement you might expect from a commodity huh? Wink

derpinheimer

legendary

Activity: 896

Merit: 1000

Quote from: TERA on October 16, 2013, 07:14:31 PM

I like how now when we "tank" it means we went back to the price we reached just yesterday.

This mimics attitude from the bubble so perfectly. Like 1 week after people started saying that, collapse.

TERA

hero member

Activity: 728

Merit: 500

I like how now when we "tank" it means we went back to the price we reached just yesterday.

SheHadMANHands

legendary

Activity: 1168

Merit: 1000

Yes, we "tanked" over news that everyone already new. That obviously the US wouldn't be defaulting. It would be political suicide for all parties involved, particularly the GOP.

Roll Eyes

annette786

full member

Activity: 160

Merit: 100

Today, BTC acted like a real reserve currency.

Over the past few days, BTC was clearly ignited by concerns over the dollar. As soon as word of a debt deal was announce, we tanked. Whether or not a hyper inflated dollar would have had any real economic effect on BTC is irrelevant. The perception was there... and enough people familiar with bitcoin actuated a price movement. I was one of them.

Most interesting, is that the media hasn't picked it up yet. I've seen them connect dots that simply weren't there (Cypriot and Spanish financial crises), but this was real. It looks like we get to do it all over again in a few months, so maybe the media won't miss it next time.

BTC is officially a safe haven.

Topic: Today was an historical day for Bitcoin - page 2. (Read 3251 times)