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mralbi
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March 08, 2013, 03:07:43 PM |
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changing back to FIAT currency is definetly not what i would recommend. When the debt based monatry system crashes 1 USD equals basically 0 USD, while 1 BTC equals 1 BTC.
I would just buy more from the FIAT you have left
While it's theoretically got the potential to be much more stable, and remain much more valuable, than USD, it' stil fiat. Anything not directly backed by something like metal, with a set exchange rate (such as "1 BTC = 1 t oz of silver") is fiat. Because of currencies like the USD, "fiat" has a negative connotation (usually for good reason), but a fiat currency (like btc) can be stable and successful. NO! Bitcoin is NOT FIAT (Fiat money is money that derives its value from government regulation or law). It is a virtual commodity not backed up by anything. But on the other hand, this is the same as for silver or gold. Gold or silver are NOT backed up by anything. 1 gramm Gold is one gramm Gold and 1 Bitcoin is 1 Bitcoin. It is simply a "convention" that people beleive this has value and are willing to give you something for it. But this is the same for Bitcoin. It is backed up by the convention of people like me and you beleive that this thing has value because of the intrinsic properties (rare, other people accept it, unfakeable, cheap, anonymous etc.) |
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In order to get the maximum amount of activity points possible, you just need to post once per day on average. Skipping days is OK as long as you maintain the average.
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Warhawk24
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March 08, 2013, 04:41:47 PM |
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id sell a few. feel a correction coming sometime in the near future
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mrp
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Activity: 7
Merit: 0
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March 08, 2013, 05:01:04 PM |
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Create your own business?
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mmmerlin
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March 08, 2013, 07:13:42 PM |
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If you were going to spend them on ASICs, who would you go with? BFL? Avalon? One of the hundreds of new scams that are springing up?  |
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Surpbitcoin (OP)
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Activity: 112
Merit: 10
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March 08, 2013, 07:16:51 PM |
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If you were going to spend them on ASICs, who would you go with? BFL? Avalon? One of the hundreds of new scams that are springing up? Both?!?! maybe! Try to minimize any risk, but at this point it looks like ordering from avalon will get you up and running before BFL by a long shot! |
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bitlybit
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Activity: 14
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March 09, 2013, 02:08:00 AM |
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hold
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downying
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Merit: 10
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March 09, 2013, 03:58:33 AM |
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buy asicminer share
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iwilcox
Newbie
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March 09, 2013, 05:06:23 AM |
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Practise a random act of selfless beauty and write off the debt your friend owes you?
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imardern
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March 09, 2013, 07:00:00 AM |
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I would sell them. You'll make a fortune right now selling even half of that, 300 coins. Boy am I jealous.
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cedivad
Legendary
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Activity: 1176
Merit: 1001
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March 09, 2013, 07:11:17 AM |
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I would sell the amount required to pay in full the debt of your friend and obliterate that debt. Hoard the remaining coins and forget about it for the next 5 years.
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My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
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BTCvFiat
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Activity: 112
Merit: 10
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March 09, 2013, 07:51:08 AM |
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Personally what I would do (not financial advise, not sure on legalities of that with Bitcoin but meh). Hold a portion of them. Spend some on the investment vehicles (my pick would be Precious Metals) and other things of interest in that regard (any credit card debt you could pay off here). Most important, treat yourself to something nice (I think I skimmed over mention of a new laptop, good example) or a holiday (whichever fits into the budget and your interests). Of course, you could always share a few around the forums (<-- only because it feels mandatory to mention in such threads)  |
Tips? Reply/PM or send coins to:
BTC: 17hVfLh3AUWWqxzo2UeVDmevntSfpc2wqB - LTC: LTbyb2dPBsPMbs1sXT5db1wainGuJ61xSV - WDC: WjEvTJtj5QGNHzXSJCJLcRYJeHzaRhRGtM
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silverfuture
Legendary
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Activity: 947
Merit: 1008
central banking = outdated protocol
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March 09, 2013, 08:12:45 AM |
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Practise a random act of selfless beauty and write off the debt your friend owes you?
I was wondering when someone was going to mention that. The guy pays in bitcoin and they triple in value...cut the friend some slack for sure or become Mr. Burns incarnate. I would sell the amount required to pay in full the debt of your friend and obliterate that debt. Hoard the remaining coins and forget about it for the next 5 years.
This! |
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Tigggger
Legendary
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Activity: 1098
Merit: 1000
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March 09, 2013, 08:48:30 AM |
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I'd be inclined to hedge my bets.
keep 200, sell 200, invest 200 in asics.
As they've tripled in value, the ones you sell ensure you are already even.
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mralbi
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March 09, 2013, 11:23:55 AM |
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there is only one basic rule for bitcoin:
Buy bitcoin with all excess money you have
Sell bitcoin only if you need.
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TheButterZone
Legendary
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Activity: 3052
Merit: 1031
RIP Mommy
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March 09, 2013, 11:40:20 AM |
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I would sell the amount required to pay in full the debt of your friend and obliterate that debt. Hoard the remaining coins and forget about it for the next 5 years.
That^ |
Saying that you don't trust someone because of their behavior is completely valid.
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Surpbitcoin (OP)
Member
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Activity: 112
Merit: 10
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March 09, 2013, 01:01:52 PM |
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Thanks for all the good advise guys, I actually took my buddy out last night for some drinks and...well... hoes! I even paid the evening and gave him some cash. Needless to say his debt to me is clear and he is happier then a pig in shit.
Now that that's taken care of it only leaves me with a few options.
Asic mining if I can ever get my hands on some rigs.
Laptop, because you can never go wrong with a good laptop.
A trip around the world which I've always wanted to take but would cost nearly all my bitcoins if I did it right! I've also been looking into BTCjam and I may open an account and start lending, not for the interest but to help the community.
Anyone here know of any good start-ups or organizations that are in need of a little cash influx?
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SRG
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March 09, 2013, 01:37:54 PM |
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Thanks for all the good advise guys, I actually took my buddy out last night for some drinks and...well... hoes! I even paid the evening and gave him some cash. Needless to say his debt to me is clear and he is happier then a pig in shit.
That is awesome, excellent! The key problem is that bitcoin is a deflationary currency, more so even than gold or silver, even if its number of users was constant, you should expect it to hold its value relative to fiat currencies, e.g. USD. Given that more and more people are getting into bitcoin, as you discovered between January and now, you are fine doing very little. So maybe sell a few to cover any needs you have but, ironically, many investments may actually underperform just holding the BTC, i.e. unlike fiat currencies bitcoin is itself a decent "investment." Congratulations on your windfall and good luck going forward. |
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mralbi
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March 09, 2013, 08:56:08 PM |
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Thanks for all the good advise guys, I actually took my buddy out last night for some drinks and...well... hoes! I even paid the evening and gave him some cash. Needless to say his debt to me is clear and he is happier then a pig in shit.
Now that that's taken care of it only leaves me with a few options.
Asic mining if I can ever get my hands on some rigs.
Laptop, because you can never go wrong with a good laptop.
A trip around the world which I've always wanted to take but would cost nearly all my bitcoins if I did it right! I've also been looking into BTCjam and I may open an account and start lending, not for the interest but to help the community.
Anyone here know of any good start-ups or organizations that are in need of a little cash influx?
Well, the bitmarket.eu bankruptcy could use some coins, lol. I am currently trying to reopen the service so that we have a chance to "earn" or frozen coins back which the previous admin "lost" |
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