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April 10, 2013, 01:48:19 AM
 #21

I accept your challenge. Now go buy bitcoins up to $1000.
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Qoheleth
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April 10, 2013, 01:52:25 AM
 #22

those filthy, worthless pieces of green, red, blue papers, coming straight our of the factories of Ben and his pals around the world, which you have so far loathed and despised.
You will forget about the plan of liberating money from the monopoly of governments and banks, like you have never believed in such an idea.
Such presumptuousness. Don't put words in my mouth.

I think cryptocurrency is a game-changer. I think it's a better tool for certain jobs, technically speaking, than the national currency and banking system. That doesn't make me a revolutionary. I have no particular ideological desire to dismantle Gold Man-Sacks, or the Fed for that matter.

My current strategy dictates that if the USD/BTC exchange rate were to go to $1000, I would sell about half of my speculation purse. My non-speculative purse, meanwhile, would continue to be used for BTC-denominated goods and services.

That's not selling out. That's sticking to the plan. And if there is a crash, it means I'll be the strong hand into which the weak hands sell. And if there isn't, I still have substantial BTC holdings, ready for things to proceed.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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April 10, 2013, 01:57:42 AM
 #23

those filthy, worthless pieces of green, red, blue papers, coming straight our of the factories of Ben and his pals around the world, which you have so far loathed and despised.
You will forget about the plan of liberating money from the monopoly of governments and banks, like you have never believed in such an idea.
Such presumptuousness. Don't put words in my mouth.

I think cryptocurrency is a game-changer. I think it's a better tool for certain jobs, technically speaking, than the national currency and banking system. That doesn't make me a revolutionary. I have no particular ideological desire to dismantle Gold Man-Sacks, or the Fed for that matter.

My current strategy dictates that if the USD/BTC exchange rate were to go to $1000, I would sell about half of my speculation purse. My non-speculative purse, meanwhile, would continue to be used for BTC-denominated goods and services.

That's not selling out. That's sticking to the plan. And if there is a crash, it means I'll be the strong hand into which the weak hands sell. And if there isn't, I still have substantial BTC holdings, ready for things to proceed.

The presumptousness is deliberate. I seriously hope you're right and get me to eat my words. Cool

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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April 10, 2013, 01:59:35 AM
 #24

The presumptousness is deliberate. I seriously hope you're right and get me to eat my words. Cool
I wasn't calling you presumptuous for assuming I'd sell; that part of your post was obviously rhetorical. I was calling you presumptuous for assuming that I gave a fig about fighting some ideological war against fiat to begin with.

But thanks for wishing my discipline well. Smiley

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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April 10, 2013, 02:00:34 AM
 #25

I sold 4.8% of my holdings at $239.  I was able to reduce my initial USD investment by 1/3 in doing so, and dang, it feels dirty.  Of course I opened up an equivalent USD value of buy orders at various points in the $100 - $200 range.  If my holdings grow another 5x, I'll probably drop another 10% into some metals.

I like AdamstgBit's perspective, except I don't have a wife and kids. Wink


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oakpacific
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April 10, 2013, 02:01:48 AM
 #26

The presumptousness is deliberate. I seriously hope you're right and get me to eat my words. Cool
I wasn't calling you presumptuous for assuming I'd sell. I was calling you presumptuous for assuming that I gave a fig about fighting some ideological war against fiat to begin with.

But thanks for wishing my discipline well. Smiley

Oh well, if bitcoin is to win any war, it wins by design, not by ideology, like how you have put it, because it's better for a number of jobs. And I wasn't saying fiats are going to die, just that the monopoly of money will be over if bitcoin goes mainstream.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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April 10, 2013, 02:02:42 AM
 #27

I see what you're trying to do, but doubt that it will change anything/anyone.
That said, rah rah reverse psychology, pseudoscience as it may be.
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April 10, 2013, 02:04:57 AM
 #28

Wait, is this ANOTHER thread, with ANOTHER idiot, who makes grand assumptions about what other people do/will do with their bitcoins?

If I have $1,000,000 worth of bitcoins when they hit $1,000 why the heck would I sell all of them at once?
Why do you assume that every single large holder (with widely varying stashes) will make exactly the amount they need to buy a lamborghini and three mansions, right when bitcoin happens to hit $1000, and will all cash out at roughly the same time, and new adoption will have slowed to the point where there are no buyers (because you know USD is gaining traction and it might just replace BTC.)

Furthermore, as if I need any more to prove the idiocracy of the original post, why $1,000 USD? Why not $1000 CND or $1000 GBP or $1000 EUR or $100000 JPY or you get the point. Why does the psychological value of the $1000 USD point matter so much more than the psychological value of other arbitrary whole number points in other currencies? This is a global market, you know.
But, whatever. Keep on pretending to know what other people do with their bitcoins, and making grand assumptions like EVERYONE will cash out at X psychologically round number because they all decide they need X material good that just happens to cost all of their bitcoin.

Every time my portfolio value reaches a nice big milestone number, I cash out a very small amount - usually no more than 5% - and buy something on my "expensive stuff that I want/need" list. That practice will continue into $1,000 and well past $1,000. Not sure why you think it will magically change at $1,000 vs. $100 or $10,000. I'm not a "hoarder" or a "spender" or a "greedy speculator" I am just a person with bitcoins. People do the same thing with USD - have a few hundred thousand in their 401(k) and savings account and perhaps a few stocks, and every once in a while may decide to "lock in some gainz." This doesn't make them bad people, good people, evil speculators, greedy hoarders, responsible spenders, but most importantly, it doesn't mean jackshit for a functioning economy.
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April 10, 2013, 02:05:19 AM
 #29

I think we'll see the result of what you've described we'll before $1000, and it will end up being the biggest catastrophe in bitcoindom to date.

Is that a camel as your avatar?  I thought it was a chicken that constantly ran around saying the sky was falling, not a camel.  would you please update?

Llama

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oh and Bitcoin is a BBBBUUUBBBBLLLEEE!

I don't believe it.  Alpacas are more bullish.

https://www.bitcoin.org/bitcoin.pdf
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April 10, 2013, 02:06:14 AM
 #30

Wait, is this ANOTHER thread, with ANOTHER idiot, who makes grand assumptions about what other people do/will do with their bitcoins?

If I have $1,000,000 worth of bitcoins when they hit $1,000 why the heck would I sell all of them at once?
Why do you assume that every single large holder (with widely varying stashes) will make exactly the amount they need to buy a lamborghini and three mansions, right when bitcoin happens to hit $1000, and will all cash out at roughly the same time, and new adoption will have slowed to the point where there are no buyers (because you know USD is gaining traction and it might just replace BTC.)

Furthermore, as if I need any more to prove the idiocracy of the original post, why $1,000 USD? Why not $1000 CND or $1000 GBP or $1000 EUR or $100000 JPY or you get the point. Why does the psychological value of the $1000 USD point matter so much more than the psychological value of other arbitrary whole number points in other currencies? This is a global market, you know.
But, whatever. Keep on pretending to know what other people do with their bitcoins, and making grand assumptions like EVERYONE will cash out at X psychologically round number because they all decide they need X material good that just happens to cost all of their bitcoin.
I think you missed the point of the post.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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April 10, 2013, 02:11:59 AM
 #31

I think you missed the point of the post.


Nah... I don't think there even was one  Grin Grin Grin
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April 10, 2013, 02:16:52 AM
 #32

If I bought all the bitcoins I could buy when I get this next batch of money coming in, which has a chance of happening...
And Bitcoin goes to $1000...

I honestly COULD NOT AFFORD TO SELL. The sheer amount of taxes I'd have to pay would make exchanger fees look like nothing. If I wanted to hedge my bets I'd open a bunch of accounts on Liberty Reserve or the like and stick some in each. Or buy gold with the bitcoins, or even just casascius coins. By that point Bitcoin would probably be accepted in many places, and I'd pay away the fiat wages I get as I got them. So yes, I'd spend some of my bitcoins: whats the point of having money if you don't spend it? But not on fiat. I'd have to be nuts to do so at that price. Plus, the exchangers would probably be suffering from ridiculous amounts of regulation by that point anyway.

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April 10, 2013, 05:25:50 AM
 #33

I think we'll see the result of what you've described we'll before $1000, and it will end up being the biggest catastrophe in bitcoindom to date.

Is that a camel as your avatar?  I thought it was a chicken that constantly ran around saying the sky was falling, not a camel.  would you please update?

Llama

Alpaca

oh and Bitcoin is a BBBBUUUBBBBLLLEEE!

LMFAO!

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April 10, 2013, 08:00:23 AM
 #34

Okay, people, if the price ever passes $1000, I am gonna bump this thread, call you guys out, so that those who still survive can line up to kick my ass. Grin

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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November 27, 2013, 03:49:41 PM
 #35

Congratulations guys. Who cares enough to prove me wrong? Cheesy

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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November 27, 2013, 03:54:17 PM
 #36

The higher the price goes the more legitimized I feel in this technology.  I will trade my bitcoins for land or for my kids college tuition but I will never sell.

I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson
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November 27, 2013, 04:17:51 PM
 #37

Congratulations guys. Who cares enough to prove me wrong? Cheesy

a picture of a 10BTC coin with todays date be ok? Smiley never opened one of them. you are selling us cheap oak.

i am satoshi
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November 27, 2013, 05:51:28 PM
 #38

Holding tight

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November 27, 2013, 05:57:04 PM
 #39

Congratulations guys. Who cares enough to prove me wrong? Cheesy

100% wrong. Holding tighter than ever.

Buy & Hold
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November 27, 2013, 06:09:38 PM
 #40

Still holding.

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