Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: Are-you-a-wizard? on August 06, 2011, 06:20:08 PM



Title: How much faith do you have in Bitcoin now?
Post by: Are-you-a-wizard? on August 06, 2011, 06:20:08 PM
 ???


Title: Re: How much faith do you have in Bitcoin now?
Post by: jackjack on August 06, 2011, 06:22:17 PM
I don't see the 100% option
???


Title: Re: How much faith do you have in Bitcoin now?
Post by: ffuentes on August 06, 2011, 06:22:52 PM
???

You're talking about faith in its trading value. Let's be clear. To have faith in bitcoin is another thing.


Title: Re: How much faith do you have in Bitcoin now?
Post by: adamstgBit on August 06, 2011, 06:24:52 PM
i have very little faith for online btc banks ATM...

but bitcoin itself .... oh come on ... it still the same thing it was 2 years ago, HOPE


Title: Re: How much faith do you have in Bitcoin now?
Post by: Jr00t on August 06, 2011, 06:24:57 PM
my faith in bitcoin has never changed since the day I discovered it.

my faith in the software and sites that operate on bitcoin have been shaken but I believe eventually these problems will smooth out in the long run.


Title: Re: How much faith do you have in Bitcoin now?
Post by: bitrebel on August 06, 2011, 06:25:11 PM
I have faith that every time I put money in Mt Gox or tradehill, the price slumps right afterwards, but never before.  ::)


Title: Re: How much faith do you have in Bitcoin now?
Post by: Jr00t on August 06, 2011, 06:26:27 PM
but bitcoin itself .... oh come on ... it still the same thing it was 2 years ago, HOPE

Exactly. nothing has changed from 2 years ago.


Title: Re: How much faith do you have in Bitcoin now?
Post by: bitplane on August 06, 2011, 06:27:52 PM
I've cashed out and currently waiting for the price to plummet further before I buy back!

I think they'll settle at around the price of the electricity required to generate them, plus their usefulness. At the moment this is what, about $6 each?

Hopefully once the price is stable and small, we can start actually using them instead of hoarding / speculating. Their future price depends entirely on how useful they are so if you're a speculator who wanted them to increase in value, you should have invested in developing some killer apps rather than playing the exchanges.


Title: Re: How much faith do you have in Bitcoin now?
Post by: FXRiot on August 06, 2011, 06:30:48 PM
I voted 75% (would have chose 85%)

Bitcoin itself is rock solid.  It's the 3rd party stuff that needs a lot of work.  I think over time there will be more established and trusted 3rd party services with heavy security in place.  It's just a matter of time.

The other 25% is purely Bitcoins unpredictable future.


Title: Re: How much faith do you have in Bitcoin now?
Post by: adamstgBit on August 06, 2011, 06:32:30 PM
I've cashed out and currently waiting for the price to plummet further before I buy back!

I think they'll settle at around the price of the electricity required to generate them, plus their usefulness. At the moment this is what, about $6 each?

Hopefully once the price is stable and small, we can start actually using them instead of hoarding / speculating. Their future price depends entirely on how useful they are so if you're a speculator who wanted them to increase in value, you should have invested in developing some killer apps rather than playing the exchanges.

i think your going to get burned. next thing you know the price is higher then you sold at!


Title: Re: How much faith do you have in Bitcoin now?
Post by: bitplane on August 06, 2011, 06:52:56 PM
i think your going to get burned. next thing you know the price is higher then you sold at!

Not likely. There's been a downward trend for the last two months, which suggests that some early adopter is slowly cashing out. IMO the market can never reach high, stable prices in this situation.

Also the BTC supply is increasing by 200k a month (deflationary currency my ass, how much is being invested in the BTC economy per month?), mostly going into the hands of miners who are trying to recoup the cost of their mining rigs, with a large number of them living in their parents' basements and not having to pay for electricity.

Also I can't get burned since my entire investment was 30, I now have $300 and have mostly used my BTC for anonymous gambling. Even if I walk away with nothing I've had more than my money's worth in fun :D


Title: Re: How much faith do you have in Bitcoin now?
Post by: doldgigger on August 07, 2011, 07:53:47 PM
This is not about bitcoins. It's mostly related to how many month the US need to wreck their currency...


Title: Re: How much faith do you have in Bitcoin now?
Post by: malbritten on August 07, 2011, 08:01:15 PM
Same as before. People who don't know how BTC works get scammed, people who do are able to do business successfully.


Title: Re: How much faith do you have in Bitcoin now?
Post by: BitcoinPorn on August 07, 2011, 08:48:38 PM
Honestly, not as much as before.

Seeing the tech savvy side of Bitcoin seeming to do a split from the 'general' user base of Bitcoin lately makes me believe there are people behind the scenes who have already lost faith and unfortunately it is just a trickle down from there.

I believe in a lot of the technology behind Bitcoin itself on top of the many benefits to a digital currency, so I'm glad at the very least I do have faith that developers have been on top of making other, better, digital currencies, and I cannot wait to back them.   Unless for some reason things switch here, which from what I gather reading many threads, however the old people feel about Bitcoin is already kind of set in their ways, and a lot of people here do not seem to want Bitcoin to be used by everybody, just themselves only.

I hope for BTC survival but do not expect it as of this minute, but who knows what news could be around the next hour to change that.

Can't wait for that Bitcoin Con :(


Title: Re: How much faith do you have in Bitcoin now?
Post by: wumpus on August 07, 2011, 08:50:46 PM
You're talking about faith in its trading value. Let's be clear. To have faith in bitcoin is another thing.
+1


Title: Re: How much faith do you have in Bitcoin now?
Post by: Mjbmonetarymetals on August 07, 2011, 10:22:36 PM
This is healthy for bitcoin , if you take a long term chart and chop the bubble out from may , then everybody would be saying wow 6 + dollars , bitcoin would have tracked steadily upward , giving more time for bitcoin to mature . Things should be far better when the weak hands , speculators have left the room  and bitcoin gets back to doing what it does best .
Psychology of a bubble , what number are we at?

http://db.tt/gtYpT9Q