your confidence in bitcoin - page 2.

gigabytecoin

sr. member

Activity: 280

Merit: 252

Quote from: Jaime Frontero on April 19, 2011, 12:45:46 AM

interesting factiod: according to this poll:

https://bitcointalksearch.org/topic/poll-your-age-4407

... i am the oldest person here, at 59.

faith? nope.

but i'll tell ya, i've missed a few boats in my life (caught some too) - and this Bitcoin thing just has that feel. it's the kind of thing i don't want to look back on and realize that it was yet another biggie i didn't see coming.

so call it a hunch, if you like.

besides, i'm a geek. it doesn't take much of an excuse to get me screwing around with hardware and software...

I am about half your age.

I have been on "the internet" for about half of my life or basically ever since there were HTML pages to look at.

One thing is for sure, bitcoin definitely has that "winning feel".

Jaime Frontero

full member

Activity: 126

Merit: 100

interesting factiod: according to this poll:

https://bitcointalksearch.org/topic/poll-your-age-4407

... i am the oldest person here, at 59.

faith? nope.

but i'll tell ya, i've missed a few boats in my life (caught some too) - and this Bitcoin thing just has that feel. it's the kind of thing i don't want to look back on and realize that it was yet another biggie i didn't see coming.

so call it a hunch, if you like.

besides, i'm a geek. it doesn't take much of an excuse to get me screwing around with hardware and software...

grondilu

legendary

Activity: 1288

Merit: 1076

up for newbies. Please vote.

grondilu

legendary

Activity: 1288

Merit: 1076

Quote from: Gavin Andresen on April 03, 2011, 10:59:42 AM

I just bought two Boston Red Sox tickets from my friend Baer using bitcoins. They really do work nicely for grassroots, person-to-person transactions, and the beautiful thing is you don't need a lot of people accepting them in one place to get started.

Yeah, as I tried to explain here, bitcoin starts to be usefull with only three people.

Gavin Andresen

legendary

Activity: 1652

Merit: 2216

Chief Scientist

I just bought two Boston Red Sox tickets from my friend Baer using bitcoins. They really do work nicely for grassroots, person-to-person transactions, and the beautiful thing is you don't need a lot of people accepting them in one place to get started.

Alex Beckenham

full member

Activity: 154

Merit: 100

Quote from: grondilu on April 03, 2011, 09:38:22 AM

I need national currencies to eat

Mmm tasty.

grondilu

legendary

Activity: 1288

Merit: 1076

Don't worry. Even if everyone hoards bitcoin, at some point they will have a strong incentive to sell them. And there will be some kind of a competition that will take place. The less greedy will sell first. There would be no point in hoarding for ever, unless you want to give your bitcoins to your children after you're dead.

I own a few thousands bitcoins. I can tell you that if one bitcoin was worth 1,000 euros, I would sell mines for sure, so that I can buy a house or something. Some people would be less greedy and would sell their bitcoins at 500 EUR/BTC, and some other even less greedy. When people start selling, they stabilize or even lower the price of bitoin, thus adjusting it to its true value.

I do actually sell bitcoins on regular basis, because I think there are better investments than cash anyway, and because I need national currencies to eat and pay my rent.

But I totally think there is no problem with hoarding whatsoever.

dduane

newbie

Activity: 47

Merit: 0

There is a paradox here. In order for your investments in bitcoin to become worth something, it is important to spend some of them. Currencies function and take on value because they are utilized by a community to exchange value. If we all just hoard them waiting for them to take on value, we'll be waiting a long, long time. I encourage everyone who wants bitcoins to take on value to set aside a good amount of your holdings for spending of some sort or another, whether it be donations, gaming, or good old exchange of goods and services. Gavin is doing a brilliant thing for the community of bitcoin users by offering the bitcoin faucet, and ensuring that the faucet's disbursements go out to as many DIFFERENT people as possible. This is why I've set up Bitcoin Bonus, I want to be able to get bitcoins out to as many people as possible.

gigitrix

hero member

Activity: 630

Merit: 500

I've purchased some and hold them, as I consider the risk:reward ratio to be one of the safest bets I've ever seen. But only a fool would say this isn't a bet. I also intend to invest my time into providing bitcoin related services, so I suppose I'm going all in really Cheesy

Ian Maxwell

full member

Activity: 140

Merit: 100

I feel like "I have my doubts" isn't a great way of putting it---it makes it sound like I don't think Bitcoin is a a solid idea. I actually do think so, in that I think it has as much chance of succeeding as any particular solid idea, which is not that high.

It's rare that you come across free lunches: investments with a high chance of success usually don't have a very high payout for success, and vice versa. Bitcoin is no exception. If it becomes generally accepted, the payout is enormous: not only will we few have dramatically improved the world, but we will all be fabulously wealthy. It would be too much to ask that this was also likely to happen. A 1% chance or so is more than enough, as long as the downside isn't too far down.

I think of it as something like investing in a startup or a high-yield bond.

Distribution

hero member

Activity: 711

Merit: 500

Fight fire with photos.

I think that the existence of Bitcoin has brought about and will continue to bring about good things. It's kind of like when Ron Paul ran for president. I worked hard to get him elected. But when primary day came, we were all severely disappointed at his showing. I knew a couple people who got really depressed. But I was so happy that he ran. I knew that his run had started a fire, that the idea of liberty would start to catch and the establishment would be shaken. The modern tea party movement (despite being hijacked) started with his campaign, auditing the Fed became a mainstream issue because of the support he gathered, and I can certainly say that his run was a significant turning point in my own life. So what do I mean? We may not be using Bitcoin 50 years from now (although we may) but it's certainly revolutionary enough that it may lay the groundwork for a more widely used virtual decentralized anonymous currency.

no to the gold cult

full member

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Answer #4: People are buying dope with it, at good prices too. It's already real.

Hal

vip

Activity: 314

Merit: 3853

From The Simpsons, "Homer at the Bat":

Quote

Hypnotist: You are all very good players
Team: We are all very good players.
Hypnotist: You will beat Shelbyville.
Team: We will beat Shelbyville.
Hypnotist: You will give 110 percent.
Team: That's impossible no one can give more than 100 percent. By definition that's the most any one can give.

gigabytecoin

sr. member

Activity: 280

Merit: 252

Somehow I doubt anybody on this forum will vote for the last two options. If you do, you shouldn't be here.

RodeoX

legendary

Activity: 3066

Merit: 1145

The revolution will be monetized!

I'm no believer in faith either. However it seems to me all you need to create a currency is something hard to counterfeit and a belief in it's value. So, faith is important. After all dollars are just paper, and gold is just a shinny rock. All value beyond that is based on our belief that it will still have value tomorrow.

Alex Beckenham

full member

Activity: 154

Merit: 100

I want it to go far, but am sometimes a little afraid that it won't. However I also think that this fear is mostly irrational.

no to the gold cult

full member

Activity: 140

Merit: 100

Quote from: Atlas_ on March 31, 2011, 10:56:58 AM

Faith? I don't believe in such a concept. I rather just say it's up to the individual will of its users. I will go as far as to argue that probability of success cannot be reasonably determined.

Faith, it's certainly an overrated concept. For me 'Faith' is just a fancy word for 'opinion', and that's fair enough.

In my opinion bitcoin will go very far.

Atlas_

newbie

Activity: 56

Merit: 0

Faith? I don't believe in such a concept. I rather just say it's up to the individual will of its users. I will go as far as to argue that probability of success cannot be reasonably determined.

grondilu

legendary

Activity: 1288

Merit: 1076

I'm curious to see the result of this one

Topic: your confidence in bitcoin - page 2. (Read 5185 times)