I learnt all the "how to use" Bitcoin funkery when I got involved in cryptos but seriously who is thinking about spending them when the value is skyrocketing? The entire cryptocoin industry could end up becoming one gigantic investment marketplace like we've never seen before with hundreds of cryptos. Backed by nothing more than speculation. Perhaps in the virtual world that's all you need anyway?
That's not really a convincing argument. How long has the current stock market bubble been going? Since 2009? Trading online, aren't they? HFT? This current "bubble bubble" is a symptom of the fact too much idle money is being pumped into the global economy. Difference is that when stocks pop and the US Bond market implodes, Bitcoin can be seen, along with gold and silver, as alternate vehicles of wealth preservation. Bitcoin is basically bittorrent for money. Bitorrent has changed so many things (in a good way) - it's worth shaving off part of your stack to take a chance on the crypto-currencies. Of course, this depends on your capacity for chance-taking. At worst you'll lose all you invest, somewhere in the middle you'll have a hedge against PM price suppression and at best you'll have a house and nice car. But I don't see the sense in having a go at people riding a bubble when the majority of the posters here are waiting for the exact same thing to happen to gold and silver.
I wasn't making an argument, just pointing out your timing measurements may not be appropriate. But do you seriously think LTC going from $4 to $40 in a couple of weeks is 'price discovery' ? Not having a go at anyone, just expressing an opinion, which many do here on many topics. And I'm definitely not waiting for the exact same thing to happen to gold or silver. If it ever does I'm sure I will exit way too early - it is incredibly difficult to pick the top.
Ya, people with silver waggle the finger at Bitcoin and ramble on about bubbles as if people with Bitcoins don't know about them . As if people have not heard about "Tulip Mania" It is a pathetic. Are they going give all the people that queue up outside bullion dealers (should silver starts to make another dramatic rise), a hard time?. Answer: NOooo way Jose.
Litecoin's price increase 10x since the 11th of November. Wow, now it's double the price of an ounce of silver.
That's mental? I didn't think it would push further than silver, well that's saying something serious about cryptos then........ I think.
What made me take serious notice of btc is when it hit the same price as silver! Since then (30$), silver went down..
I wasn't proactive enuf & wish I'd bought then. It's natural to be skeptical but once you make the leap! I'm in but not as deep as I am in Au/Ag. (Hope it isn't a re-run of 1980, bag holder for 2 decades..) Last month I bought up namecoin (NMC) & it's been sweet, shorted for 25% increase twice now, if it crashes I will sit on it just like metal.. Fingers crossed I'm not sitting round on a pirate chest, eating 2min noodles looking at panda coins n dreaming of bubbles!
Not jealous. But if I did well with BTC I'd be looking at cashing out and turning it into PM's before it crashes again.
Bitcoins value... on an electronic form. It took a year to pass the enter door. I wonder how long the exit door pass will take. The so-called 'cash out'. See, in order to gain a Lamborghini, somebody has to loose a Lamborghini. And the amount available Lamborghini's only manifests itself in that 'cash out'.
Late to the party on this thread. Since I heard about Bitcoin again in January this year I took a more serious look at it then I did the first time around; liked what I had seen so got in and achieved 1 BTC via GPU mining at a Bitcoin mining pool from then through to early May this year. This time period was just before ASICs flooded the market, which naturally rendered GPU based Bitcoin mining obsolete and thus my brief but luckily timed Bitcoin mining career. Currently my attention is more fixed on other crypto-currencies where GPU mining is also still somewhat relevant; exchanging what my single GPU can mine into Bitcoin and speculating with a balance between digital holdings and trading out only into Silver ounces with those who accept BTC in turn for the physical shiny stuff. Note also that I haven't invested any fiat directly into BTC; only using existing HW besides the upgraded GPU that had funded itself, so for me 20'13' was a lucky number. Coming back on topic, am I jealous of those who made it big on Bitcoin? Nope, I congratulate them for having a bigger risk/reward profile than I and thank them for increasing the value of my small holdings in kind.
I thought the members here where into Bullion not Bullshit? Why would anyone with any real assets or a brain invest in this crap?
2 things turned me Kawa: 1. The realisation that value is subjective and 2. Cryptos are not centrally controlled
Investment is one of many aspects of Bitcoin. It is a useful utility for wealth transfer. Because physical silver does not exist for near instantaneous transactions longer than ones arm. Something else is required. I've purchased a phone online with Bitcoin via a company in another city. The transaction took seconds. I could not have made the transaction with physical silver. In this case, my physical silver was completely useless to me. Alsosome of us would rather avoid and not support Govt/Fed issued fiat and banks as much as possible.
Hmm.. I would say those who trade the predictable ups and downs are the very opposite of braindead, at least for now. From what I have learned the last couple of months there's a good chunk of money to be made selling before the weekend and buying back in before Monday. If you can see the moves as they start then it's insanely easy money (although it's anyones guess how long it'll be that predictable). I do think investing in bitcoin now (after it's pretty much had its run) is a bit silly though. I would not feel safe buying in now, though litecoin seems like it has room to play catch up at some point.
