zachcope (OP)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 10:39:25 AM |
|
I'm in BTC for the long haul as it supports a healthier global economy (based on real investment not debt and pension raiding) as well as my own goals to increase my purchasing power and keep my wife happy!
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
Would you therefore encourage friends or family to speculate on bitcoin? Would you feel bad if they did and bitcoin broke and became worthless? Would you avoid talking about this to avoid this risk?
Just interested in your views on this.
|
|
|
|
Birdy
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 10:45:42 AM |
|
I recommend them buying just 1 Bitcoin,but I'm not suggesting to invest big in this unless they are also doing other speculative stuff like stocks. Or for those playing lotto: "it's like a lottery ticket with a better chance of winning"
|
|
|
|
andrewsg
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 10:52:37 AM |
|
I wouldn't encourage my family to "speculate" on bitcoin - but I would encourage those in my family with a lot of liquidity and other assets to have a look at it and consider investing a small % of their net worth in bitcoin, as a long term investment, to diversify from all the other asset classes they already own. And I wouldn't feel bad if it went south, after all, they are all adults of sound mind and judgement.
|
Bitcoin can be bad for your chi. Improve yours and mine by sending BTC to: 1N1zRYSwKQbZ8Kx1bKvTskrjGMNynVFEr1
|
|
|
samson
Legendary
Offline
Activity: 2097
Merit: 1070
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 11:01:07 AM |
|
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
How is it possible that a low 2 digit dollar value is less likely than zero. Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero. So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
|
|
|
|
drakahn
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 11:04:40 AM |
|
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
How is it possible that a low 2 digit dollar value is less likely than zero. Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero. So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ...
|
14ga8dJ6NGpiwQkNTXg7KzwozasfaXNfEU
|
|
|
BitSmile
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 11:11:57 AM |
|
My mother has a 5BTC cold wallet, bought at ~30$.
|
|
|
|
samson
Legendary
Offline
Activity: 2097
Merit: 1070
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 11:35:51 AM |
|
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
How is it possible that a low 2 digit dollar value is less likely than zero. Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero. So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ... Many people will trade it all the way down to zero. And I believe pretty much any problem could be fixed given time. People closing shorts springs to mind.
|
|
|
|
Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 11:38:08 AM |
|
I bought 100BTC for my dad when the exchange rate was $20.
Those are in a paper wallet and will not be moved for at least 5 years.
|
|
|
|
Coinseeker
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 11:54:14 AM |
|
I would only recommend Bitcoin to family if they wanted to come in and make a quick buck. Otherwise, I'd recommend something with a better shot at long term viability and worldwide adoption, like Ripple. In fact, that's exactly what I do. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
|
If your ignore button isn't glowing, you're doing it wrong.
|
|
|
Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 11:54:54 AM |
|
I would only recommend Bitcoin to family if they wanted to come in a make a quick buck. Otherwise, I'd recommend something with a better shot at long term viability and worldwide adoption, like Ripple.
LOL ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
|
|
|
|
crumbs
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 12:24:20 PM |
|
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
How is it possible that a low 2 digit dollar value is less likely than zero. Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero. So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ... I'm not sure $0 Bitcoin is likely. Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin: I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion. I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine. I once restored a 1943 microwave spectrum analyzer. Was a huge chunk of rack gear, with a waveguide sticking out of the side. I had 0 use for it, and 0 plans for reselling it. I just dug it. TL;DR: Bitcoin's too neat to die.
|
|
|
|
lucas.sev
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 12:38:28 PM |
|
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
How is it possible that a low 2 digit dollar value is less likely than zero. Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero. So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ... I'm not sure $0 Bitcoin is likely. Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin: I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion. I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine. I once restored a 1943 microwave spectrum analyzer. Was a huge chunk of rack gear, with a waveguide sticking out of the side. I had 0 use for it, and 0 plans for reselling it. I just dug it. TL;DR: Bitcoin's too neat to die. I like how you did not mention the S word.
|
|
|
|
crumbs
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 01:26:40 PM |
|
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
How is it possible that a low 2 digit dollar value is less likely than zero. Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero. So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ... I'm not sure $0 Bitcoin is likely. Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin: I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion. I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine. I once restored a 1943 microwave spectrum analyzer. Was a huge chunk of rack gear, with a waveguide sticking out of the side. I had 0 use for it, and 0 plans for reselling it. I just dug it. TL;DR: Bitcoin's too neat to die. I like how you did not mention the S word. I'm honestly* not invested, one way or another. You think i'm spreading ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fclipart.toonarific.com%2Fdata%2Fmedia%2F110%2Ffud004.gif&t=665&c=TyZa5FKTvTKy1g) /-elmer -d? *You have no reason to believe me ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
|
|
|
|
zachcope (OP)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 05:52:08 PM |
|
I would only recommend Bitcoin to family if they wanted to come in and make a quick buck. Otherwise, I'd recommend something with a better shot at long term viability and worldwide adoption, like Ripple. In fact, that's exactly what I do. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Fortunately I'm not in the Ewing family so wouldn't shaft my family with that ripple crap. ![Kiss](https://bitcointalk.org/Smileys/default/kiss.gif) Re ripple, if Bitcoin can make anyone a banker, Ripple can turn anyone into a loan shark.
|
|
|
|
zachcope (OP)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 05:53:58 PM |
|
I do accept however that a medium term dollar equivalent (at today's values not including hyperinflation) could be $1000 or $0 with a low (2 digit) dollar value being less likely than $0.
How is it possible that a low 2 digit dollar value is less likely than zero. Why ? Because it needs to pass through the low two digit and single values to get to zero. If this ever happened it would bounce so high multiple times before it ever got to zero. So if the value ever goes to zero low 2 digit values are 100% guaranteed and so are both low and high single digit values. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) If its worth $X and something happens to make it worth $0, who will be paying $2 for it to go to $2 "on the way"? ... I'm not sure $0 Bitcoin is likely. Imagine the worst case scenario, where you can no longer buy *anything* with Bitcoin: I, for one, would gladly spend $10 to buy up the world's supply of Bitcoin, simply to be able to say that i own something once worth billions of dollars, an intangible, improbable & counterintuitive thing which trolled the financial sector like a boss, the purely digital entity on which so many hopes & dreams drove, throttle floored, into oblivion. I'd also buy up some (at that point, 100% useless) ASICs -- simply because i love defunct tech -- and mine. I once restored a 1943 microwave spectrum analyzer. Was a huge chunk of rack gear, with a waveguide sticking out of the side. I had 0 use for it, and 0 plans for reselling it. I just dug it. TL;DR: Bitcoin's too neat to die. Fair enough you've changed my mind. I meant to say 'Crash or to the Moon'. It would also never be $10 for the world's supply, as I would buy it at $11 for the lulz. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
|
|
|
|
KSV
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 05:54:45 PM |
|
most definitely, already did so.
|
|
|
|
ThatDGuy
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 06:23:34 PM |
|
most definitely, already did so.
I encourage them to be aware of it and then make their own decisions. After enough time learning about Bitcoin's fundamentals and brief (yet resilent) history - it seems like an asset to at least have some of in a portfolio.
|
|
|
|
MonadTran
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 06:27:44 PM |
|
I tell people the facts when it is appropriate and would not ruin the conversation. I tell people about my own decisions. They make their own decisions after that.
|
|
|
|
XXthetimeisnowXX
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 252
Merit: 250
a wolf in sheeps clothing. suckerfish
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 06:33:45 PM |
|
YES AND ALL FOUR WHO TOOK THE ADVICE HAS MADE MONEY.
|
|
|
|
mb300sd
Legendary
Offline
Activity: 1260
Merit: 1000
Drunk Posts
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 10, 2013, 06:35:19 PM |
|
Told them repeatedly last summer around $5, noone listened.
|
1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
|
|
|
|