Topic: Why do you have bitcoins and what is your strategy? - page 4. (Read 5009 times)

Bitcoin is a good to have for a hedge against an uncertain fate of the current economy and because it's innovative technology.  I personally hold Bitcoin because I think it is going to grow like a weed with today's current economic climate being what it is.  I'm not saying the world is going to end or anything like that.  But instead bad policies for years will have an effect and Bitcoin holder's will benefit. My strategy is hold Bitcoin and anything else that is potentially going to be worth more in the future.  The best strategy is to keep in mind why Bitcoin is valuable and make sure nothing has changed to undermine it's value.  Then continue to buy and hold during the dips in the market.  When the markets stabalize you can always sell to lower your exposure or enjoy holding cheap Bitcoins for a bigger reward.

Not much of a strategy, I just believe that bitcoins will take over as the biggest currency in the world and why not be in on history? I use them in my business and I feel a lot can be gained by individuals who learn to use them, so I try to spread the word!

I'm here for history, it's historic, it's fun, it's great to be in early (even if it fades away because it's been around long enough to be remembered.)

I wish it could be a medium of exchange and an investment, but I know that's not possible.

It's up for us, the community to shape what we want this thing to be, we need to impose it on our communities and our retailers. And we CAN impose it on our retailers. I hope that some of the services that come about are investment opportunities, something that can make what I believe will ultimately be a medium of exchange useful for investment diversification.

Good luck to us all, see you on the moon.

I agree, that is a problem. With paypal opening up the gate, it might put more pressure on the market. Hopefully it'll be short term and more people will jump in to buy and join the bitcoin revolution!

Actually, I think it'll work well with already distributed work, e.g. bittorrent.

Imagine this: streaming network paid by bitcoin on demand, pay as you go. Basically, instead of paying netflix, you pay the content providers as well as the distributors (peers) bitcoin will just flow through the system. It'll be legal, virus-free, efficient, and super fast.

Hopefully, no one will have any incentive to do "normally" bittorrent anymore.

I like this. Simple and to the point. Thanks for sharing

I agree with this. A very important factor is that the technology behind bitcoin is solid. If someone finds a way to create bitcoin out of thin air, then we are done. The developers' job is to make sure that day NEVER comes.

I have bitcoins because I believe in the technology and the investment possibility to see a high return is very likely in my opinion. My strategy is to buy and hold coins for 1 or 2 years and hopefully by then I can spend them at many places buying things I really want.

protip: 'making a true demand for their coin' is not the responsibility of the developers. The developers are tasked with ensuring that the coin is technically sound. That's a critically important specialization - their attention should be focused upon this alone.

You want someone to create demand? Get off your butt and do some proselytizing. Go teach the benefits to a retailer or an investor.

Not gonna happen in the near future.

I used to mine to live (mined full time from January until July)
Now I mine gradually with my leftover hardware and look at other methods of earning BTC (1st class postage stamps anyone?).
 

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I'm still considering what could be valuable from the creation of goods and services augmented by blockchain technology.  These disruptive technologies will come with increased efficiency and value creation.  We may lose jobs in some sectors (like cashieers - but we'll gain in others, like payment technicians)

I am very curious of how could distributed work could persist and spread possibly infrastructure overhead across users to where there is a net benefit from the decentralization (for example - web of trust models and frameworks with creators, product checkers, product reviewers, and administrative personnel all virtually outsourced and facilitated in a p2p network based model to where temp workers can gain income from simply doing intraconnected tasks for 6 hours per day {efficiency allows humans to gain the same income from reduced output through increased efficiency}). 

Unfortunately So far the status quo has been centralization and for good reason - centralization creates efficiency and importantly, consistency, however centralization has the reverse curse of focusing on the top down (executives and corporate staff get higher benefits and rewards for output unfairly as compared to the satellite, frontline employees) which is where distributed technology allows more participants a network area and by proxy greater availability of services.

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Yes My strategy is hold and use only slightly gradually now

 I think that Bitcoin will be a World Currency that people will accept,in the future.
 So i'm basically gambling that it will increase in price.
 

When Bitcoin emerged I was a Forex trader,I watched closely as it grew and grew, After battling the big banks, the collusion and manipulation of Forex market and getting out with a nice profit I saw many new currencies emerging in the crypto world. I found a portal in to a new trading position. And one where I in fact did not need to spend any money to get involved. The ability to mine and other handy portals make getting into crypto very easy. So I jumped in while I could.

 I have a hope bitcoin will succeed, but with every passing month I see this shining hope dissipate away with unsupported development plans, unknowledgeable trading methods, no creation of demand and more and more coin dumping businesses jumping on board every day. What bitcoin needs is high dollar long term investors, and it can not get those, because it has pressured and concentrated so hard on picking up business to utilize the coin,they did not evaluate the situation before making this decision. Picking up companies like Dell and other large manufactures may seem AWESOME to most people but it in fact hurts Bitcoins value, Dell pays for thier manufacturing products with Fiat, they pay for the labor with Fiat so when a company like dell picks up the use of Bitcoins it does not create a demand but rather give kids who already have bitcoin a way to spend them. then in turn Dell has no choice but to dump them every 2 weeks. That with the mines out there, and you have a huge dumping game. the only thing securing the value of bitcoins right now is the tradable market, without a real demand Bitcoin will go back down to 20 dollars a coin and stay there. Just look at the charts since we got Dell, it lowers in value every 2 weeks, started at over 640 dollars, dropped to 620, then 600 then 580 then 540 then 500 now we are resting securely in the 477 range, next week it will be 460 to 450 and it will continue this decline until 1 of 2 things happens, either we get some high dollar investors, (which is not going to happen) or the developers of Bitcoin get off their ass and make a true demand for their coin, because a currency that has a value based strictly on trading,  has no true value at all.

ADDITIONAL NOTE FOR BITCOIN DEVELOPERS: (in hopes they read this stuff HAHA)

Stop playing this "Bitcoin is in its infancy"

Heres a little common sense for you, bitcoins is 5 years old right, ask yourself is a 5 year old child an infant? no it is not, a 5 year old child is exactly what its parents have made it, if that child is smart and developed child its because the parents did their job correctly, if the 5 year old can not read or write, does not know thier colors or numbers, its because the parents failed at their job to develop their child into an intelligent being. Bitcoin Developers you are the parents, Bitcoin is your child, ask yourself is bitcoin a well developed child?? Allow me to answer NO it is not, it is not strong, it is not independent, it has no demand, you are failing at your jobs as parents. Wake up before you child no longer exists.

I have bitcoin because I see it as an investment and most importantly the technology behind it is genious. It has HUGE potential, and I want to do whatever I can to help build the infrastructure, so bitcoin can grow and achieve mass adoption.

My strategy is simply to earn more through both content writing and some day trading on Mintpal. It seems to work so far though I can't claim any obscene profits yet.

I have Bitcoins because I mined them in 2011-2012 plus a few other things I did to collect them. My strategy is to sell them all when the value reaches $2.5 million. They need to reach at least $1,310 each and the then current transaction volume needs to be high enough for me not to effect the market price during the sale (although I could do it slowly over a few weeks if the price stays relatively stable).

Not holding anymore bitcoin.

Seems like the high price of btc has attracted a lot of people who have no ideal what they are doing. Plus, the bubble of altcoins and eventual busting of altcoins make me bearish on the outlook of btc.

why i have bitcoin ?
absolutely because i am in digital modern era  bitcoin is a good project for digital currency,

my strategy ?
HOLD, and Invest some bitcoin to gain in future 

Bitcoin has a lot of potential moving forward. Capital continues to flow into startup companies, more user friendly platforms are constantly being developed to buy/sell/store/spend bitcoin, more retailers are adopting, more atms, transactions and wallets steadily increasing, etc. I like all the growth. My strategy is to hopefully hold for years to come, and one day be wealthier because I took the risk of investing when many were not willing to. If everything comes crashing down, it won't be devastating for me financially because I haven't invested that much