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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33403. (Read 26497248 times)

legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
hero member
Activity: 728
Merit: 501
CryptoTalk.Org - Get Paid for every Post!
Bitcoin is too risky/volatile to be used as a safe store of value, unless you have the luck to purchase at the very start of each bubble and not plan to cash out in one year minimum, if ever.

No way anyone is gonna spend 1,000,000$ in bitcoins as a store of value for example, if at the next moment all the bears are going to dump their coins for the only purpose of repurchase cheaper, making the inversor lossing 15% of his inversion.

Plenty of people have $1M+ in Bitcoins. Storage or investment is up for debate.

Speaking of 15% loses, gold is down 17% YTD. If you stored $1M in Bitcoin Jan 1st 2013, well done it's now worth $10M. Crash to $25? Still worth $2M. Your $1M in gold is now worth 830k. While clearly there is less risk in gold, there's risk in everything. It's certainly not crazy to think of Bitcoin as a way to store value.

Like I said in my post, it will take time for it to become a great storage option. But I stand by my point that it certainly can become an amazing container for value.
legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1904
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Trusted Bitcoiner
Quote
500 - Internal server error - Bitcoin Charts
Undecided
legendary
Activity: 1552
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legendary
Activity: 2352
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legendary
Activity: 2576
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k


nice, i like how you really made the 3d pop out!

Sorry. Bumming round Southern Florida at the moment. Thought I had cleared enough space...
legendary
Activity: 1862
Merit: 1114
WalletScrutiny.com
I know, right?

Listen to these guys (especially maloney) struggling: http://www.youtube.com/watch?v=lRpwRpLdLDc

The mental anguish is palpable.

WTF??? How do people hold on to using the term "intrinsic value" in the most arbitrary ways???
Because it cost money *in the past* gold has intrinsic value?
Salt has also a high intrinsic value cause it cost a lot of work in the past?
Your hard labor of the past will give your shiny metal value once those asteroids drop 50 times our gold reserves down to earth per year?
This totally degenerated argument of gold being valuable because of its intrinsic value is just beyond stupid.

If at all, intrinsic value is the value of something once I stop swapping it for other stuff (make tools, eat it, etc.) aka a future value in case nobody wants to trade not a past value that drove people to mine it with hard work. Past appreciation doesn't give value to anything and in this sense I strongly oppose to "bitcoin is backed by electricity" and only jokingly mention that bitcoin is backed by drama cause that's the only aspect it guarantees for the foreseeable future.
full member
Activity: 238
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I can't believe people have bullied ChartBuddy into doing silent protest posts Sad
legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
member
Activity: 70
Merit: 10
Welcome to the greatest social experiment the world has ever known.

I beg to differ on that: The internet is the greatest social experiment the world has ever known. Even bitcoin has been born from it!  Cheesy
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
My TA fu isn't very good, but could this be a potential head and shoulders?



Rule #1 zoom out to a longer time frame. Stop trying to predict the weather by looking at an ant.

Thanks  Grin
sr. member
Activity: 434
Merit: 250
Awww...

Still, I'll leave this here for the lulz  Wink
legendary
Activity: 1246
Merit: 1010
My TA fu isn't very good, but could this be a potential head and shoulders?



timescale too short  you can find anything at that granularity
sr. member
Activity: 434
Merit: 250
My TA fu isn't very good, but could this be a potential head and shoulders?

legendary
Activity: 2352
Merit: 1819
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 371
Merit: 250
I know, right?

Listen to these guys (especially maloney) struggling: http://www.youtube.com/watch?v=lRpwRpLdLDc

The mental anguish is palpable.

The problem with this discussion is that there's no one on the Bitcoin side.

Gold bug 1: "I think gold is good."
Gold bug 2: "I also think gold is good."
Gold bug 1: "Ah, question answered then!"

Please bring Jon Matonis to the discussion next time!

Ok i am taking a nerdish aproach to this. What about not so long future.
Look at these companies:



http://www.planetaryresources.com/

Quote
Asteroids are the best real estate in the Solar System.

Despite their celestial age, our understanding of asteroids is still in its infancy. However, the more we learn about them, the more enticing destinations they become.

Asteroids are primordial material left over from the formation of the Solar System. They are scattered throughout it: some pass close to the Sun, and others are found out beyond the orbit of Neptune. A vast majority have been collected by Jupiter’s gravity into a belt between it and Mars – an area known as the Main Belt. As it turns out, we have been discovering thousands of asteroids that do not belong to the Main Belt, but instead pass near Earth’s orbit – nearly 9,000 to date, with almost a thousand more discovered every year.

Many of these near-Earth asteroids are easily accessible from Earth. And many contain enormous quantities of accessible resources.

AN INCREDIBLE RESOURCE
There are over 1,500 asteroids that are as easy to get to as the surface of the Moon. They are also in Earth-like orbits with small gravity fields, making them easier to approach and depart.

Asteroid resources have some unique characteristics that make them especially attractive. Unlike Earth, where heavier metals are close to the core, metals in asteroids are distributed throughout their body, making them easier to extract.

Asteroids contain valuable and useful materials like iron, nickel, water, and rare platinum group metals, often in significantly higher concentration than found in mines on Earth.

We are only just beginning to realize the incredible potential of asteroids. The first encounter of a spacecraft with an asteroid was in 1991, as the Galileo spacecraft flew by the 951 Gaspra asteroid on its way to Jupiter. Our knowledge of these celestial neighbors has been revolutionized by a small set of US and international missions carried out since that time. With each visit or fly-by, the science on asteroids has been rewritten.

or Nasa plans to capture an asteroid



http://news.nationalgeographic.com/news/2013/04/130410-asteroid-recovery-nasa-space-budget-science/


We might not see it or yes if you are young enough, but maybe in 20 years there might be small asteroid mining companies around

I say that bitcoin is even better than gold. One satellite filled with gold and the gold economy will face a huge devaluation or maybe shocked if one country manages to get one and the rest of the countries get a lesser percentage of gold as a result... With Bitcoin this cannot happen
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