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Title: Value dropping to cause btc spending spree? Post by: Gabriel Beal on July 05, 2011, 08:33:13 PM If the people-hoard-because-of-deflation camp is correct, we should start seeing more people spending their bitcoins, right? Or do people hoard their bitcoins when the value is rising and then just sell them when value goes down? :)
Title: Re: Value dropping to cause btc spending spree? Post by: DamienBlack on July 05, 2011, 08:34:36 PM If the people-hoard-because-of-deflation camp is correct, we should start seeing more people spending their bitcoins, right? Or do people hoard their bitcoins when the value is rising and then just sell them when value goes down? :) No they hoard when the value goes down too. Title: Re: Value dropping to cause btc spending spree? Post by: hugolp on July 05, 2011, 08:38:44 PM If the people-hoard-because-of-deflation camp is correct, we should start seeing more people spending their bitcoins, right? Or do people hoard their bitcoins when the value is rising and then just sell them when value goes down? :) I tend to buy when bitcoin is rallying because you find better prices. I bought some things with bitcoins when it was over $25. It was a great decission. :) Title: Re: Value dropping to cause btc spending spree? Post by: Gabriel Beal on July 05, 2011, 08:42:48 PM I tend to buy when bitcoin is rallying because you find better prices. I bought some things with bitcoins when it was over $25. It was a great decission. :) That was my experience as a seller as well. We were getting 6 or 7 orders a day when btc was trading in that range. Now it's more like 1 or 2. Glad I didn't quit my job. :)Title: Re: Value dropping to cause btc spending spree? Post by: peach on July 05, 2011, 08:44:40 PM I doubt it. I'm more inclined to hold my BTC while bitcoins have experienced recent rapid devaluations.
Title: Re: Value dropping to cause btc spending spree? Post by: Nagle on July 05, 2011, 08:47:15 PM You can still buy alpaca socks for 2.5 BTC. And at $11/BTC, they might be worth it.
Title: Re: Value dropping to cause btc spending spree? Post by: bitbot on July 05, 2011, 10:08:16 PM what kind of loser buys socks for $20?
Title: Re: Value dropping to cause btc spending spree? Post by: scooter on July 05, 2011, 10:19:55 PM what kind of loser buys socks for $20? Clearly you have never worn alpaca socks... Only losers wear socks made of polysaturatedurethanebyproducts Title: Re: Value dropping to cause btc spending spree? Post by: ErgoOne on July 05, 2011, 10:22:14 PM The kind of looser that loves *REALLY* soft, warm socks that keep your feet from freezing even in the Antarctic winter. ;) I don't have any alpaca socks, but do have alpaca gloves, knit hat, and living room rug. Alpacas were bred in the Andes; alpaca is IMHO warmer and softer than any sheepskin or wool. (Although I've got an Irish wool sweater that's close.)
I just placed my first bid for bitcoins on Mt. Gox. Once I've acquired some, I might well buy a pair of socks. Title: Re: Value dropping to cause btc spending spree? Post by: peach on July 05, 2011, 10:35:23 PM what kind of loser buys socks for $20? In Peru you can get the same socks for 1-2 USD. I'm with you. Title: Re: Value dropping to cause btc spending spree? Post by: Rodyland on July 05, 2011, 11:16:32 PM what kind of loser buys socks for $20? In Peru you can get the same socks for 1-2 USD. I'm with you. So why don't you move to Peru and start an alpaca-sock exporting business? All these fools willing to pay $20 a pair, you'd be laughing! Title: Re: Value dropping to cause btc spending spree? Post by: peach on July 05, 2011, 11:18:09 PM what kind of loser buys socks for $20? In Peru you can get the same socks for 1-2 USD. I'm with you. So why don't you move to Peru and start an alpaca-sock exporting business? All these fools willing to pay $20 a pair, you'd be laughing! Selling socks isn't exactly my dream. Also, that's exactly what dozens/hundreds of other people are doing. Title: Re: Value dropping to cause btc spending spree? Post by: ErgoOne on July 05, 2011, 11:21:49 PM what kind of loser buys socks for $20? In Peru you can get the same socks for 1-2 USD. I'm with you. Sure, but you first have to find somebody to sell them to you. If they're online, they'll charge more. If they aren't, you'll pay to contact them. Then you have to pay for shipping/handling from Peru, which isn't cheap either. $20 for a pair of socks is expensive, no question about it. But if the socks are anything like the other knitted alpaca items I own, you'll love them. So why not negotiate with the seller? (Or, for that matter, get a quote in $ USD -- if it's cheaper that way, you can buy that way.) ;) Title: Re: Value dropping to cause btc spending spree? Post by: KMBTC11 on July 06, 2011, 12:17:28 AM Some people buy Ferraris, we buy socks. It is the status symbol of choice for Bitcoin gazillionares the worldwide. See, now I want some of those socks. Title: Re: Value dropping to cause btc spending spree? Post by: Matarael on July 07, 2011, 04:16:33 AM Some people buy Ferraris, we buy socks. Change the website from "weusecoins" to "webuysocks" :D Title: Re: Value dropping to cause btc spending spree? Post by: Anonymous on July 07, 2011, 04:23:34 AM If you are bitcoin rich the ultimate luxury item is $20 socks
:D Title: Re: Value dropping to cause btc spending spree? Post by: marcus_of_augustus on July 07, 2011, 04:55:29 AM what kind of loser buys socks for $20? Some people buy Ferraris, we buy socks. It is the status symbol of choice for Bitcoin gazillionares the worldwide. Nice. ... and the more bitcoin you splashed out on socks the higher up the totem pole you must be. |