I treat bitcoin like a ponzi. I will admit it.
I think bitcoin will start declining in a few years and fade away.
Something else will replace it that will cause people to shift to it.
Internet folks are very fickle. So I will take as much as I can take and give nothing back.
See them apples? you like them.
I think bitcoin will start declining in a few years and fade away.
Something else will replace it that will cause people to shift to it.
Internet folks are very fickle. So I will take as much as I can take and give nothing back.
See them apples? you like them.
Once upon a time I worked for a startup that was purchased for 250M USD in cash. This was around 1999. We just had to park our *sses at the parent company for a year or two waiting for our options to mature and pay out of escrow.
One individual was sitting on 1M USD but he chose to LEAVE that money and become the first engineering hire in a new startup. The company was a *SURE* thing... until the market imploded. 5 years later I (and many of the same engineers) were working for another startup and it turned out the company he went to was trying to re-purpose their product to compete in our space. They failed, we were sold for 100+M.
You may think BTC will fade away, but I hope you have the foresight to save at least 10%-25% just for your own mental stability a few years from now...
It is thinking like this that is definitely causing me to cash out every few days.
Too speculative for my taste. When you hear talk like this, like hearing an elevator operator in 1929 discussing wall st,
you head for the hills.
No, analyze fundamentals and potential. If they remain sound then don't dump it all, diversify.
The much-touted-on-these-forums retail use of BTC may be promising but suffers from the network effect and its generally not worth the savings (3% + currency conversion) to evangelize for a one time purchase. But if you have repeat international business (B2B supply chain procurement from china for example) then BTC is the clear winner and is worth pursuing. Since it provides a valuable service and essentially "earns" you 3%-5% per transaction, BTC may be in a bubble today, but is not a ponzi. You (the end user) will not see B2B adoption until its too late, except perhaps as an increase in the txns on the blockchain.
You are one of the lucky few who stumbled on this "edge". Where else is this kind of financial marketplace innovation going on? There's only one salve for the guy who bought the 10000 BTC Papa John's pizza order (that's what 62000 USD per pie? just 2-3 years ago), and that's if he held onto another 10k BTC...
