It can last weeks.
That's not very long in the grand scheme of things.
I beg to differ. Confidence is about knowing we won't tank. Compare with 2011. We're doing pretty good.
And what happens if we do tank?
Don't be all in or all out. If we tank than use your cash to pick up more shares. If we go up then at least you don't have to buy in later 2X as much.
I know this is a speculation thread but we shouldn't really lose sight of the point here. It isn't about making money per say. It is about helping a new money to get a foothold. It is about being an early adopter to a revolutionary and risky idea. I'm cool with all that.
So, instead of what others find to be a good entry point, make that decision for yourself. All I have to look at is the current "float" - 11 million is nothing. That is worth taking a chance over.
IF we do succeed then these prices will seem like nothing (do the math regarding the float). If we don't succeed then I'm sure we still took part in one of the greatest experiments in recent history. Think about that - governments and wealthy individuals have always controlled money. This is the first step away from that (that I can think of). Still nice to say, years from now, that you tried to do your part to change things. And if things really take off, we shouldn't lose sight of the fact that it is truly all about sharing. I'm game when that time comes, we are all in this together.
I'm afraid I can't see that. Yeah, it makes money for people, but it makes more money for people who have more money. This shifts some of that control around a bit, but it isn't revolutionary in that way. It is revolutionary in that it allows people to trade without involving fiat. That potential isn't realized yet, but it is there. The potential to make it all about sharing? Not so much.
Sounds like you are too close to the tree and can't quite make out the forest. I don't disagree with you, Yes, in the near term you are right. I don't think BTC is THE answer, but I do think it is taking money in a new direction. In the end, money won't matter, but till we get there we are taking steps. In the meantime till money is not about power, there are choices - time based currencies are a great idea and will probably compliment BTC. But getting away Fiat currencies that back wars/killing should be at the top of our humane list of money's problems.
You know how they say BTC will only have 21 million coins in 2140 (or whenever that is) - you know, I don't think it will get that far. Money as we know it, money as BTC, etc only has a few more decades if that (yes, imo). As long as money allows power over others, as does our political system, we will always be searching for more. And we will probably get there. If we are every going to truly live together, a much more star trek type system on money will be in order. When we get there and look back all these forms of money will seem barbaric, but each new one is hopefully a step in the right direction.
