Just buy the dips, not only will it make you rich, if you buy at the ask you will be increasing the price. This is going up in the long haul. and miners have to be able to play both sides.
Buy when its low mine when its high (always mine but its not worth mentioning at 4 btc a coin). Sell what you bought when its back up, it will drop. and start over.
The natural flucuations of markets can be exploited rather than trying to control them with unions ( which i think might go against the free market anarchy thing lol). If you truly believe this is a good thing, than dont even be fazed by the rise or drop in BTC... Just act accordingly and keep your eyes on the future.
O yeah its always best to assume they are worth like 8-10 bucks...whetther it is at 30 or at 1. because that is a realistic value for them.
And this kind of attitude will lead to the demise of bitcoin as a currency. Too many speculators, not enough people accepting it as actual currency. Bitcoin is too unstable in value to be used as a regular currency right now. If we tie value to difficulty, which is itself tied to adoption rates (to some extent) the value will be proportional to the number of people using it.
I don't want to buy low, sell high and make a bunch of money while the project flounders. I want this thing to succeed. I'd like to someday not HAVE to exchange my BTC for USD in order to pay my electric bill and to that end, anything which smooths out these obscene peaks and valleys is a good thing.
I'm not doing this for the speculators, I'm doing this for the community because what's good for the speculators is often NOT what's good for the currency in general.
I agree with you in the sense that i want BTC to develop into a mainstream currency. But if you look at mainstream currency, this is how it works. up down up down up down every day, up down up down every month, up down up year, up over 10 years.
The overall value will always be increasing their is just going to be natural fluctuation along the way and it is not going to hurt to exploit them.
All this attitude will do is attract more investors and more people. because they can be used, and because they cant be made willy nilly, we are protected from crazy dumping...you cant buy anything with the shares of a stock. but if someone starts dumping bitcoin you can pick them up and buy something useful to you that may not of been of use to them, thus giving them value again.
Greed is what drives the free market, if you guys dont follow your natural tendencies to try to profit, then it wont work. it was designed to become stronger by what makes normal currencies weaker.Deflationary Spiral Model.
Dont abandon the bitcoin, just change the strategy.
If you really care you will use usd or wutevs as a tool to effect bitcoin...you see it dropping then buy some at the ask and people will go wait, y is this guy buying at ask does he know something i dont?
I believe in bitcoin fully, I am also going to treat it just like usd...meaning it should be bought sold mined traded etc. always at the best possible time for you. The difference is bitcoin itself is better than usd, so we should be all good.
I think we are on the same page, i think you feel it is a lack of faith on mypart by going back and forward. It is not, I put everything into bitcoin, when i get usd i buy bitcoin equipment which just makes the bitcoin network that much bigger and stronger, When I buy and hold bitcoin as a long, i am instituting what I feel is a floor..I buy at 10$ per BTC means i feel that is the least they are worth and i am holding until it is worth more. This is how yo get your price floors so you dont see it drop to 1$ everyday, you need longs. When i buy the low in the morning and sell at the end of the day, That is for a profit...which is ok lol
This is free market anarchy, and it was designed that way from the beginning.
Basically the only thing i think might need some regulation is the concentration of failure potential in pooled mining.
This could destroy bitcoin as a whole, not just lower the value
We should not care if the value gets lower, unless you only care about profit and dont care about bitcoin at all, just like all markets it will rise and drop.
Buy low (1$) Sell High (30$) and you get a average value of 15$
It cannot hurt bitcoin because we cant just issue more bitcoins one morning and trick everyone into buying them at yesterdays value (like the stock market), then people realize their is 100 mil shares all the sudden the company is only worth 1 mill dollars and they paid a dollar a share.The next day they lost 99% of their money. They have to come from someone who worked or payed for them. Therfore it is difficult to dump them without any care or overhead like issuing more shares in a company.
I feel like im trying to wrap a books worth of info into a post,
Im sorry its so long but im not editing or deleting any and im stopping here...
Hopefully no conflicting thoughts or ideas above, im sure you will all rip me a new one if there is though so at least ill find out then:)