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Author Topic: Why would you sell your new currency?  (Read 977 times)
Elwar
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April 09, 2013, 11:09:25 PM
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Let us say that you moved from the US to Mexico and in the process converted all of your dollars to pesos.

Now, let us say that for some reason the peso started rising against the dollar quickly. All of the sudden your pesos are able to buy more than you were able to previously and the dollar is losing value.

Do you now convert all of your pesos to dollars? Or do you just keep your pesos and use them as currency?

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nobbynobbynoob
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April 09, 2013, 11:10:57 PM
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Only if I actually needed dollars for some reason.

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April 09, 2013, 11:12:11 PM
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I always thought it was weird to say "sell bitcoins".  I think it makes more sense to say "trade bitcoins".  You can trade them for dollars if you want. :-)
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April 09, 2013, 11:13:24 PM
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I finally got out of the dollar bubble and cashed out all my dollars for a standard currency - Bitcoins Smiley

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April 09, 2013, 11:13:57 PM
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Let us say that you moved from the US to Mexico
This is the crux of the matter.

In this hypothetical, at the time that the exchange rate improves, I am living in a place where most of my expenses are peso-denominated. So, regardless of the exchange rate, it makes sense to conduct trade in pesos (and possibly, to buy stuff from US merchants over eBay sometimes because the prices will be lower than usual).

If, at the time the exchange rate shifted, I was living in the US, the question becomes more complicated.

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April 09, 2013, 11:14:08 PM
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Difference: We don't live in Bitcoin, it's not a country, and if it were it'd be akin to the Island of Nauru in that they have no exports and there is nothing to buy.

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April 09, 2013, 11:20:28 PM
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Difference: We don't live in Bitcoin, it's not a country, and if it were it'd be akin to the Island of Nauru in that they have no exports and there is nothing to buy.

I live in Bitcoin land. The land where I have access to the Internet and can buy anything on the Internet with bitcoins (http://www.bitspend.net).

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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April 09, 2013, 11:25:03 PM
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Difference: We don't live in Bitcoin, it's not a country, and if it were it'd be akin to the Island of Nauru in that they have no exports and there is nothing to buy.

I live in Bitcoin land. The land where I have access to the Internet and can buy anything on the Internet with bitcoins (http://www.bitspend.net).

No, you live in the USA, but you hold stake in "bitcoinland" by holding bitcoins. Holding a stake in this conceptual kingdom is akin to holding property on the moon though. Anything can happen and those moon dollars can become pretty worthless if there are not rockets to support travel to and from.

XXthetimeisnowXX
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April 09, 2013, 11:50:08 PM
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Difference: We don't live in Bitcoin, it's not a country, and if it were it'd be akin to the Island of Nauru in that they have no exports and there is nothing to buy.

I live in Bitcoin land. The land where I have access to the Internet and can buy anything on the Internet with bitcoins (http://www.bitspend.net).

No, you live in the USA, but you hold stake in "bitcoinland" by holding bitcoins. Holding a stake in this conceptual kingdom is akin to holding property on the moon though. Anything can happen and those moon dollars can become pretty worthless if there are not rockets to support travel to and from.

no more like land in the us, there is a finite amount of land in the us, land values have always gone up,(over the long run) because of the fact that people want it and there is only so much to go around.the alaskin purchase is a good examle- we bout it for 2 cents per accer, now even with todays exchange rate do you think you could buy it for that much? ( just to let you know i did the calculations and that would come to 31 cents today) so go get your self an acer of land for 31 cents....oh they wont sell it to you for that much? hummm maybe because its like bitcoins, and the old adverb is true with both

don't wait to buy land bitcoins, buy land bitcoins and wait.

  land is just land if noboby wants it or uses it.   that keyboard in your picture? (prob not you but just as example) sell it and in a year you could have ten of them. dont be mad about others making money, just get yourself a bitcoin or two and turn that frown upside down.
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April 09, 2013, 11:52:52 PM
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Difference: We don't live in Bitcoin, it's not a country, and if it were it'd be akin to the Island of Nauru in that they have no exports and there is nothing to buy.

I live in Bitcoin land. The land where I have access to the Internet and can buy anything on the Internet with bitcoins (http://www.bitspend.net).

No, you live in the USA, but you hold stake in "bitcoinland" by holding bitcoins. Holding a stake in this conceptual kingdom is akin to holding property on the moon though. Anything can happen and those moon dollars can become pretty worthless if there are not rockets to support travel to and from.

I used to live in the USA.

My home right now is in Afghanistan. Who knows where my home will be next year. Not likely in the USA.

A world currency is perfect for me.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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April 10, 2013, 12:09:42 AM
 #11

I'm a dual citizen of the USA and the virtual country Bitcoinland

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Matthew N. Wright
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April 10, 2013, 12:11:10 AM
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I'm a dual citizen of the USA and the virtual country Bitcoinland

That sounded like Furries on SecondLife for a second.


Where are your citizenship papers for bitcoinland, sir? Please show them immediately. You know, the ones with your private keys on them.  Wink

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April 10, 2013, 02:23:09 AM
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I'm a dual citizen of the USA and the virtual country Bitcoinland

That sounded like Furries on SecondLife for a second.


Where are your citizenship papers for bitcoinland, sir? Please show them immediately. You know, the ones with your private keys on them.  Wink

Bitcoinland is not nazi germany, I don't have to show you my papers Smiley

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April 10, 2013, 03:54:31 AM
 #14

As much as I'd like to move into the Internet, unfortunately I still have meat-space needs that can atm more conveniently be met via fiat.

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April 10, 2013, 04:04:04 AM
 #15


Do you now convert all of your pesos to dollars?

Yes, because dollars are accepted in more places than pesos, and the peso could plummet back to less than a dollar just as quickly as it rose.  In this scenario, it makes the most sense to lock in profits with the more useful currency.
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April 10, 2013, 04:09:46 AM
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The whole topic is apples vs. oranges -- you can't email dollars or pesos.

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