Bitcoin Forum

bit-bug is a term I borrowed from gold bugs.

Gold bug (sometimes spelled goldbug) is a term frequently employed in the financial sector and among economists in reference to persons who are extremely bullish on the commodity gold as an investment. They are also groomer and dormer, believe that current world will collapse, debt will destroy US dollar, an any currency backed by any government. Big banks, governments sold 1000 times existing gold, to depress the gold price, one day, this will turned around.

Bitcoin bugs
1 will be a hard core believer of bitcoin.
2 will be a groomer and dormer of any existing government/bank backed currency.

Are you one of them?

...

In my case I am more of a Bitcoin enthusiast, but not hardcore as I do not know enough.  I buy, I spend some (on gold) and hold the rest.

I do not know if the financial world will collapse, my *guess* would be NO, but who really knows?  Not I.

HODLing BTC along with gold and other assets, in a good diversification, will do about as much as is reasonably possible against a currency collapse.

Diversification works in both good financial times and bad ones.  Highly recommended.

I'm with OROBTC on this one. Definately not a bit-bug as I don't believe in a full financial collapse of the world.

I do believe in bitcoin and that it will see tremendous growth ahead still. I've made sure to have a solid foot in bitcoin concerning its current price and my current income.

Regarding gold and selling 1000 times the existing gold to depress the price, it is highly unlikely that something like this happened. Would also be severly hitting their own gold worth hard this way. Also, the current price is already the result of massive hoarding instead of circulating that gold. As long as we can get by with the amount that is in circulation, the price will likely not explode.

Most of us are bitcoin opportunist, not hard core bitcoin bugs. I still have bank account with fiat, still have retirement account in fiat.
I myself is not a gold bug, not believe in the conspiracy theory either.

I believe in freedom and it is one of the many properties of bitcoins... I am not a fan of financial collapse as many people (usually the poorer ones) will suffer as a consequence of that.

I believe bitcoin-effect is a gradual one which has the potential of giving freedom back to people.

The volume of paper gold is over 300 times the total amount of gold in existence in the world. The price of physical gold is increasing while the price of gold conrtacts for future delivery has been dropping (there is a reversal atm). Every country, with the exception of Canada, is buying or hoarding gold. Chna, Russia and India are major buyers, and there are many who think the Rouble is 60% undervalued. China will probably introduce a currency backed by gold. Can you imagine what will happen to the price of gold if China requires delivery of a few hundred tons of the virtual gold it has bought?

The physical gold is about 2000 tons in the world, but open glod future contract is about 60000. This is gold bugs reason believing in manipulation.
The lesson learned is that we should boycott Bitcoin future, if major bank would to create one.

I'm thinking that the financial sector will reshuffle itself to include cryptocurrencies and the Blockchain. Of course this will look like a collapse to some people who are on the wrong end of the reshuffling and lose out because of it. I'm not really a "bit bug," though of course if you send some Bitcoin my way, I can write an article for you. But I do intend to be on the right side of the reshuffling.

I don't think #2 is necessary to be called a bitcoin bug, in-fact most won't prefer to called that at all even if they're and the world financial system doesn't have to collapse, but as with every system, it needs an update to new technology to work more efficiently and bitcoin is the answer for that, like email was the update for traditional mailing system and fax.

i am a big believer in bitcoin, so i always say that the future of bitcoin is going to be so bright but never go as far as saying financial world will collapse and bitcoin replaces it.

anyways, even if bitcoin won't replace fiat and government currencies, it is going to grow and reach that mass adoption point some day in the future.

the term is bitcoiner

I can't say that I am a bit-bug yet, as I am not having to treat everything with skepticism.

Currently, the market is being, as usual, very volatile, and thus I can't place my full faith in the continuation of the Bitcoin economy, at a higher value, but I do have faith it will carry on for a long time.

Call me a DoomBug or whatever you want to call me, but some things are just common knowledge. We all know this debt driven economy cannot last forever and something that goes up, must come down. I do not believe the banks or the governments for that matter, have our best interest at heart, because they are either money or power driven.

Some big correction in the economy is coming and the longer things goes on like this, the bigger the collapse will be.

DoomBug signing off. ^Bleeeeeep^

Well I'm a little bit of both since I believe BTCitcoin will remain there in top when all other bank backed currencies fails someday but again like most users here, still have bank account myself and use it from time to time although roughly a wild estimation of my BTCitcoin usage would be at 70% now and the rest goes to normal monetary systems and I truly hope one day comes that I would be able to use BTCitcoin only on all my expenses.

No I am not a radical Bitcoin supporter who thinks everything else like fiat is pure evil and needs to be eradicated from the face of the Earth. I am just a liberal guy who just tries to balance the advantages and disadvantages of every currency be it digital or not.

maybe i'm include of "hard core believer of bitcoin"
too damn love and interesting to bitcoin,and i'm ot gonna quit from it,until bitcoin has gone,call it love at first sight on bitcoin,not bad right? ;D

The fact that dollar will collapse in the future is just that, a fact... this is not a discussion, it's just a matter of time. So anyone that is paying attention to what's actually up, must have important amounts of money in metals and Bitcoin. If you are a goldbug that only pays attention to metals and ignores Bitcoin, you are an idiot. If you only pay attention to Bitcoin and ignore metal, you are also an idiot.

I am a bitcoin fan, but not that much, like hardcore. I like bitcoin just simply to earn it to spend it. I love to save bitcoin too and a true believer on future of bitcoin.

If anyone follows world news. it is no secret that major countries are devalue their currencies. I don't think a complete wipe out will happen, but inflation will kick in someday violently. If bitcoin can live to that day, probably less than 3 year, btc should go up dramatically, in sync with gold. Of course,i am afraid governments will try to depress gold, maybe at the same time, bitcoins.

I don't think the financial world will collapse overnight but it's always nice to have an alternative in Bitcoin for example.

We don't need for currencies (fiat currencies) to get totally wiped as in disappear, but just the devaluation, hyper inflation and then the nail in the coffin which will be the fact that governments have an agenda to get rid of physical cash in the next 10 years, will make a massive demand for Bitcoin and will drive up to unforeseen marketcap level, then the people that didn't put the effort to store some now will cry because they will see with perspective that they missed the biggest train of their life.