Why are people taking such a huge risk in holding a currency that could collapse

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: Kazu on April 10, 2013, 10:02:29 PM

Quote from: Elwar on April 10, 2013, 05:44:52 PM

Quote from: ManBearPig on April 09, 2013, 02:08:59 AM

This is the only Bearish thing I've read lately that is based on fact and not emotion, without an arrogant contrarian tone.

Thank you, everyone knows how bearish I am but the OP is based solely on fact.

I haven't noticed you being bearish at all TBH.

Which is why it is so funny saying that my OP talking about how the dollar bubble is about to pop is considered Bearish.

And actually I become very bearish about 3 days after my paycheck arrives (for some reason).

Kazu

full member

Activity: 168

Merit: 100

Quote from: Elwar on April 10, 2013, 05:44:52 PM

Quote from: ManBearPig on April 09, 2013, 02:08:59 AM

This is the only Bearish thing I've read lately that is based on fact and not emotion, without an arrogant contrarian tone.

Thank you, everyone knows how bearish I am but the OP is based solely on fact.

I haven't noticed you being bearish at all TBH.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: ManBearPig on April 09, 2013, 02:08:59 AM

This is the only Bearish thing I've read lately that is based on fact and not emotion, without an arrogant contrarian tone.

Thank you, everyone knows how bearish I am but the OP is based solely on fact.

ManBearPig

sr. member

Activity: 350

Merit: 250

"Don't go in the trollbox, trollbox, trollbox"

This is the only Bearish thing I've read lately that is based on fact and not emotion, without an arrogant contrarian tone.

HappyBitCoinUser

full member

Activity: 182

Merit: 100

I completely agree with the OP :

"Why are people taking such a huge risk in holding a currency that could collapse"

Why do so many millions of people still have their money in US Dollars is beyond comprehension since it will eventually collapse.

Buy or invest in land, other currencies, e-currencies, silver, gold, any except the dollar which is being devalued every day, and eventually will collapse.

Government and Globalist have admitted they are trying to destroy the dollar (just Google it if you don't believe).

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Uh, no. I daytrade/swingtrade, and I am in and out of the market constantly.

Right now, I'm in and taking profits at $200.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: evolve on April 09, 2013, 12:17:07 AM

I've been calling this a bubble since the twenties (which was like 3 months ago)....now we are at almost $200.

You are delusional if you think that kind of growth is sustainable. I stand by my statement 100%

I don't think it is sustainable, but I see no reason it can't level out without crashing to the floor. I'm just saying your bearish calls have no weight any more since you obviously jumped ship long ago and are stuck until it turns.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

I've been calling this a bubble since the twenties (which was like 3 months ago)....now we are at almost $200.

You are delusional if you think that kind of growth is sustainable. I stand by my statement 100%

notme

legendary

Activity: 1904

Merit: 1002

Quote from: evolve on April 08, 2013, 10:48:56 PM

Quote from: bitcon on April 08, 2013, 10:14:18 PM

Quote from: proudhon on April 08, 2013, 07:38:52 PM

Holding bitcoins is a lot riskier than having USD in a US in bank account. A lot riskier.

you mean a lot more profitable.

Until the market tanks.

How long have you been calling for that now? Did you sell out $100 ago yet?

Wekkel

legendary

Activity: 3108

Merit: 1531

yes

Actually, holding physical cash may be a very good short term 'investment'. Remember Cyprus?

XXthetimeisnowXX

sr. member

Activity: 252

Merit: 250

a wolf in sheeps clothing. suckerfish

Quote from: evolve on April 08, 2013, 06:52:16 PM

Quote from: BitcoinAshley on April 08, 2013, 06:48:46 PM

Silly ~~Americans~~ bitcoiners, continuing to invest into the ~~Dollar~~ BTC Bubble. Even listening to ~~mainstream media~~ common sense or simple reason, it's obvious it will pop sooner rather than later. Sad

FTFY

ha as you have said since it was 40? silly bitcoiners making money dont they see that they will only make a lot more money untill its 1450 per bit then they will only make marginal gains. silly bears wanting cheep coins. ya know you can get a cheep LTC!!! hoooooraaayyyyy you can buy those and not be so grumpygills Cry

randrace

sr. member

Activity: 329

Merit: 250

LTC -> BTC -> Silver!

Is anyone interested in pumping USD with me?

mp420

hero member

Activity: 501

Merit: 500

I haven't sold a single bitcoin yet. Unless you count the day trading thing I took a shot at a couple of times, latest back in the double digits (I made profit, but just barely).

I'm actually more worried about the risk of exchanges going down and taking our money with them than the bubble bursting. The thing is, after the bubble bursts there is going to be a period of disbelief, during which bitcoins are easily sold to the greater fools. It happened even with Pirate when he defaulted, people were willing to buy Pirate debt with only a relatively moderate discount. And everyone who knew anything about finance was certain Pirate was a scam from the beginning.

Bitcoin is not a scam, of course. But neither is it going to be a widely used and widely recognized currency any soon.

Kazu

full member

Activity: 168

Merit: 100

If you want a safe haven, then just stick to gold at this point. Bitcoin is a good currency and all, and I fully believe that it is the currency of the future, but it is still nowhere near as safe as gold.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: bitcon on April 08, 2013, 10:14:18 PM

Quote from: proudhon on April 08, 2013, 07:38:52 PM

Holding bitcoins is a lot riskier than having USD in a US in bank account. A lot riskier.

you mean a lot more profitable.

Until the market tanks.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: bitcon on April 08, 2013, 10:14:18 PM

Quote from: proudhon on April 08, 2013, 07:38:52 PM

Holding bitcoins is a lot riskier than having USD in a US in bank account. A lot riskier.

you mean a lot more profitable.

To put it another way, for whatever flaws there are in bitcoin, gold, etc. I prefer a currency that goes up and down at the whims of the market to one that goes down and down at the whims of the banksters.

bitcon

legendary

Activity: 2212

Merit: 1008

Quote from: proudhon on April 08, 2013, 07:38:52 PM

Holding bitcoins is a lot riskier than having USD in a US in bank account. A lot riskier.

you mean a lot more profitable.

oakpacific

hero member

Activity: 784

Merit: 1000

Dollars?

There are hordes of people still holding U.S stocks, treasury bonds, junk bonds, Fannie bonds, mortgage-backed securities. Even if you consider bitcoin to be something of absolutely no value at all, its fundamentals are still better than many of the assets I listed above, which have been bleeding since day one.

zoinky

hero member

Activity: 811

Merit: 1000

Web Developer

I see what you did there.

proudhon

legendary

Activity: 2198

Merit: 1311

Holding bitcoins is a lot riskier than having USD in a US in bank account. A lot riskier.

Topic: Why are people taking such a huge risk in holding a currency that could collapse (Read 2791 times)