Bitcoin Forum
March 19, 2024, 09:13:14 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: You would be crazy to spend bitcoins when its rising so much in value  (Read 2892 times)
odolvlobo
Legendary
*
Online Online

Activity: 4256
Merit: 3152



View Profile
April 09, 2013, 11:58:06 PM
 #21

a week ago http://www.huffingtonpost.com/2013/04/03/bitcoins-bubble-porsche_n_3009313.html this person sold a porsche for some coins.

in only a week, that person could now go and buy 2 porsches for those coins.

By your logic, you would never buy a car because you could always get it cheaper if you waited. Would you go without food because you could always buy it tomorrow for less?

Have you  bought a computer or a phone lately? By your logic, that was crazy because if you wait a year the price will drop by 1/2. How do you justify your action?

Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
1710839594
Hero Member
*
Offline Offline

Posts: 1710839594

View Profile Personal Message (Offline)

Ignore
1710839594
Reply with quote  #2

1710839594
Report to moderator
"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1710839594
Hero Member
*
Offline Offline

Posts: 1710839594

View Profile Personal Message (Offline)

Ignore
1710839594
Reply with quote  #2

1710839594
Report to moderator
Bit_Happy
Legendary
*
Offline Offline

Activity: 2100
Merit: 1040


A Great Time to Start Something!


View Profile
April 09, 2013, 11:59:49 PM
 #22

I have seen this said a few times "you would be crazy to spend it when its rising so much in value".

I do not understand this. Sure, at face value thinking that you have X Bitcoins today that are of value Y, why would you get rid of X Bitcoins today when tomorrow their value will be 2Y?

But then how do you spend money? Do you keep fiat currency and spend that? That makes even less sense! Why keep fiat currency?

If you hold Y dollars that are worth X Bitcoins that will tomorrow be worth .5X Bitcoins, why have dollars?

My contention is that most of us are paid in dollars. We all have to pay for things. The best possible scenario for you would be to convert your dollars to bitcoins as quickly as possible and then use it for spending.

Otherwise, if you get paid and then wait a week to spend your fiat, then you have just lost a week worth of value gain.

You would be crazy to spend dollars when having dollars to spend in the first place is crazy.

+1
Spend your coins today!

nimda
Hero Member
*****
Offline Offline

Activity: 784
Merit: 1000


0xFB0D8D1534241423


View Profile
April 10, 2013, 12:58:50 AM
 #23

Is a rising "bitcoin price" measured in dollars or goods equal to a falling "goods price" measured in bitcoins?
If so, we can simply look at falling "goods prices" measured in USD to see if people will hoard forever.

Computer parts are constantly getting cheaper. This means the "dollar price" measured in computer parts is rising. Do we hoard dollars forever? No, we buy computers even though they will be cheaper later.

QED.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!