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April 16, 2013, 02:55:40 AM
Last edit: April 16, 2013, 12:10:31 PM by hlynur |
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+1
at the beginning i started refeshing that wall observer thread everyday because I wanted to check where my little investment is going.
But after some time I realized that I went into that game not for shortterm speculation but because I believe in the idea behind that whole thing.
The problem is that as a newbie on these forums you're sucked into the fiat/bitcoin value spiral very very fast, because fiat is the only value you're used to since being born.
Let the bulls and bears have their fun, it's just another playground favoured because of the high margin profit.
Bitcoin is still in the toodler stage and it takes quite some time to grow up.
Seeing the internet as a virtual world it's just logical that someday it would get its own currency.
Bitcoin exists on the internet now for a relatively long time span and that is the biggest argument that it's not just a little hype that will disappear.
As with everything an idea always has its ups an downs, but if it's good enough the world will open and give it its place.
The market for bitcoin has to comply with the fast spreading and decentralise so that the value is not just depending on one big exchange but many more different factors of influence.
I know it's sometimes a bit too abstract to compare the internet to the history of the real world. (I always see its timeframe now as kind of shortly after digital middleage)
My theory is that bitcoin is a virtual resource that will be used for trading like gold many many years ago. (Although its bound to fiat standard at the moment)
And perhaps someday that status could even be replaced by another kind of virtual currency that correlates more to fiat money then bound to bitcoin standard.
(I haven't read too much about ripple, but it sounds like a first approach to that for me)
Because internet has a much faster developement curve compared to the history of the real world, it feels to me like I'm saving an amount of gold back in the days of the goldrush and looking to its value after 200 years.
In the end that's complete speculation and I'm just curious how this new idea will change everything depending on the influences of administrative powers.
Until then I'm holding like a bull having a winter sleep and blink from time to time to watch them ripping themselves apart while I eat some popcorn.
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