Bitcoin: Should you stay or should you go?

[WhatTheGox]

Without a defining killer app, I am confident that Bitcoin will, in fits and starts, inevitably return to its 2009 levels. It would be pointless to guess how long that process will take; or when that killer app will appear although I am also confident it will appear at some entirely unpredictable point.

I'm easily old enough to remember the very early days of personal computers. I remember a story from The Wall Street Journal in which a reporter interviewed a small-business owner (I think an auto-repair shop) who had bought an Apple II. The reporter asked the man what he thought of his purchase. The man stared glumly at the Apple for a moment and then sourly commented: "The damn thing just sits there."

Exactly. The world was just never going to buy into a command-prompt environment in a really big way. But the Mac came along and then the world began to change. (Be like the Mac! Bill Gates commanded his troops developing Windows 95.) And so it will be with Bitcoin. The world will never buy into it until an environment comes along that makes it easier, safer, and a lot more fun to use. Until then, the price will suffer periodic whale-dumps and then sort of bounce, spurt, and finally just roll along long enough for people to start talking (again) about "Bitcoin's recent price stability." And then yet another whale-dump will splash the water and the retroactively obvious cycle will begin again.

If you decide to go, then you will miss out on the killer app that will send Bitcoin to the moon and beyond. If you decide to stay, then you will watch the value of your stash just ebb away before your eyes. That choice defines your control.

As for me, for now I'm going to stay. But I've got Coinbase and can go in a second. That could happen at any time too.

[Comment added June 23, 2015:

My conclusion: stay. The blockchain itself will be the killer app upon which all other apps and bitcoins' fiat value will depend.]

No going back to 2009 bro when you have players like goldman sachs saying the token needs to be of value for the system to function and then take into account they are invested into blockchain technology.  Seems like them and others would have a good reason to keep things progressing.

[Wexlike]

But its killerapp is the store of value and smart contracts. That is enough to make it a worldwide success.

[Pursuer]

I somewhat agree. Just like the world wasn't ready for personal computers, the world isn't ready for Bitcoin just yet, but when it is, you'll regret not having a bunch of them.

like apple stock sad story he did not have the patience for it
http://www.fool.com/investing/general/2013/04/01/the-sad-tale-of-a-forgotten-apple-co-founder-and-h.aspx

imagine how   can feel now this man , like  who had  10k btc and sold them all when they were worth a few dollars...
frustrating

this is why I am holding strongly. I am hoping for the day that the price goes way up to the moon and I can get a nice profit from what I have gathered so far.

[btcjoin14]

I'm looking at bitcoin as a long term investment. I just don't know how solid that investment will be!

[BruceSwanson]

Without a defining killer app, I am confident that Bitcoin will, in fits and starts, inevitably return to its 2009 levels. It would be pointless to guess how long that process will take; or when that killer app will appear although I am also confident it will appear at some entirely unpredictable point.

No going back to 2009 bro when you have players like goldman sachs saying the token needs to be of value for the system to function and then take into account they are invested into blockchain technology.  Seems like them and others would have a good reason to keep things progressing.

I hope you're right. Goldman et al. may directly facilitate use of the blockchain through better exchanges, which could tend to raise bitcoins' price-level. Or they may try to build their own proprietary blockchains, would could tend to lower the price-level, at least at first. But I think even the wide use of corporate/governmental blockchains would be good for Bitcoin's blockchain in the long run, as institutions would probably use it as an archival backup, if only to save money -- why not?

That's in the rosy future. In the meantime, the crowd of onlookers just grows as it tries to figure out what the hell is going on. They're not going to buy until everybody else does first. But there's a twelve-year-old in the crowd who's getting an idea . . .

[TibanneCat]

It is here to stay, no doubts about it.
If you follow all the developments around the bitcoin ecosystem, you'll see that it is somewhat similar to the internet in late 80's, with investments just starting to slowly pour in and more companies looking into how to harness the potential of this new technology.

[knowhow]

well bitcoin is the future of money and will be used traded several deeper and bigger ammounts will roll into it on the next years for sure

[BruceSwanson]

Another news story shows how far Bitcoin still has to go:

http://www.latimes.com/business/la-fi-copyright-office-20150623-story.html#page=1

Blockchain technology is not even mentioned. 

[Comment added June 25, 2015:

But there is hope!

http://thenextweb.com/insider/2015/06/24/ascribe-is-using-bitcoins-blockchain-to-help-artists-claim-ownership-of-their-work/

]

[Dotakels]

Another news story shows how far Bitcoin still has to go:

http://www.latimes.com/business/la-fi-copyright-office-20150623-story.html#page=1

Blockchain technology is not even mentioned.

Even if blockchain was not metioned still its a grea help to know every single transaction that we made, at least we know if we get be paid or not. But its also a greate help to a hacker to get some information about the addresses that have a big coins.

[knowhow]

well its already 5 years since bitcoin camed live and well maybe more 5 years to achieve another point ,all days a new person join us into bitcoin...

[cryptworld]

I have it totally clear, I am staying for long in bitcoin whatever happens

[afriezalie]

Still waiting for a good news so bitcoin price will raise up . I think bitcoin will be still alive until 5 years later, so it's a wise choice to stay for 5 years

[arbitrage001]

Depend on risk appetite. Many old timers are already goner.

[PenguinFire]

Depend on risk appetite. Many old timers are already goner.

Yes, but some of them got out "while the getting was good".  If I bought in early and sold when it was crazy high I would be a happy camper.  Still, I would have probably bought back in and be holding on still today.

[Amph]

Still waiting for a good news so bitcoin price will raise up . I think bitcoin will be still alive until 5 years later, so it's a wise choice to stay for 5 years

it will not died for sure between this halving, there is enough hype around it to make bitcoin survive until then

so everyone should at least stays until that date, bitcoin will prove itself there, if the price will not rise, expect another great despair phase, much greater than today...

[randy8777]

Still waiting for a good news so bitcoin price will raise up . I think bitcoin will be still alive until 5 years later, so it's a wise choice to stay for 5 years

the times where bitcoin price would go up after good news are over. and of course bitcoin will still be here in 5 years. just be patient with your holdings. what today seems to not move can look totally different next year.

[clipman77]

It seems to me that it begins to impose all this and nothing good will come.

[zenitzz]

waiting and waiting and waiting i should do to hope get nice price, i'm still holding bitcoin right now

[Daniel91]

Still waiting for a good news so bitcoin price will raise up . I think bitcoin will be still alive until 5 years later, so it's a wise choice to stay for 5 years

the times where bitcoin price would go up after good news are over. and of course bitcoin will still be here in 5 years. just be patient with your holdings. what today seems to not move can look totally different next year.

Yes, this is my hope to.
If I cash out my BTC funds right now, I will not receive much.
I'm not in hurry, I invested some of BTC in my other businesses online and rest of BTC I will keep until the right time, when its value rise again.
I have confidence that this will happen in the near future.
At least, I didn't invest my own money here, all BTC I earned through my work

[Dotakels]

Still waiting for a good news so bitcoin price will raise up . I think bitcoin will be still alive until 5 years later, so it's a wise choice to stay for 5 years

the times where bitcoin price would go up after good news are over. and of course bitcoin will still be here in 5 years. just be patient with your holdings. what today seems to not move can look totally different next year.

Yes, this is my hope to.
If I cash out my BTC funds right now, I will not receive much.
I'm not in hurry, I invested some of BTC in my other businesses online and rest of BTC I will keep until the right time, when its value rise again.
I have confidence that this will happen in the near future.
At least, I didn't invest my own money here, all BTC I earned through my work

Great job, and thats right if you want to exchange you bitcoins into your fiat money you should wait until the price goes up and then exchange it. Until you are waiting you can try some investment but avoid the scammed and ponzi.