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Author Topic: Value dropping to cause btc spending spree?  (Read 2125 times)
Gabriel Beal
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July 05, 2011, 08:33:13 PM
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If the people-hoard-because-of-deflation camp is correct, we should start seeing more people spending their bitcoins, right?  Or do people hoard their bitcoins when the value is rising and then just sell them when value goes down? Smiley

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DamienBlack
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July 05, 2011, 08:34:36 PM
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If the people-hoard-because-of-deflation camp is correct, we should start seeing more people spending their bitcoins, right?  Or do people hoard their bitcoins when the value is rising and then just sell them when value goes down? Smiley

No they hoard when the value goes down too.

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July 05, 2011, 08:38:44 PM
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If the people-hoard-because-of-deflation camp is correct, we should start seeing more people spending their bitcoins, right?  Or do people hoard their bitcoins when the value is rising and then just sell them when value goes down? Smiley

I tend to buy when bitcoin is rallying because you find better prices. I bought some things with bitcoins when it was over $25. It was a great decission. Smiley
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July 05, 2011, 08:42:48 PM
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I tend to buy when bitcoin is rallying because you find better prices. I bought some things with bitcoins when it was over $25. It was a great decission. Smiley
That was my experience as a seller as well.  We were getting 6 or 7 orders a day when btc was trading in that range.  Now it's more like 1 or 2.  Glad I didn't quit my job. Smiley

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July 05, 2011, 08:44:40 PM
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I doubt it. I'm more inclined to hold my BTC while bitcoins have experienced recent rapid devaluations.

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July 05, 2011, 08:47:15 PM
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You can still buy alpaca socks for 2.5 BTC.  And at $11/BTC, they might be worth it.
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July 05, 2011, 10:08:16 PM
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what kind of loser buys socks for $20?

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scooter
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July 05, 2011, 10:19:55 PM
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what kind of loser buys socks for $20?

Clearly you have never worn alpaca socks...

Only losers wear socks made of polysaturatedurethanebyproducts
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July 05, 2011, 10:22:14 PM
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The kind of looser that loves *REALLY* soft, warm socks that keep your feet from freezing even in the Antarctic winter. Wink  I don't have any alpaca socks, but do have alpaca gloves, knit hat, and living room rug.  Alpacas were bred in the Andes; alpaca is IMHO warmer and softer than any sheepskin or wool.  (Although I've got an Irish wool sweater that's close.)

I just placed my first bid for bitcoins on Mt. Gox.  Once I've acquired some, I might well buy a pair of socks.
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July 05, 2011, 10:35:23 PM
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what kind of loser buys socks for $20?

In Peru you can get the same socks for 1-2 USD. I'm with you.

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July 05, 2011, 11:16:32 PM
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what kind of loser buys socks for $20?

In Peru you can get the same socks for 1-2 USD. I'm with you.

So why don't you move to Peru and start an alpaca-sock exporting business?  All these fools willing to pay $20 a pair, you'd be laughing!

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peach
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July 05, 2011, 11:18:09 PM
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what kind of loser buys socks for $20?

In Peru you can get the same socks for 1-2 USD. I'm with you.

So why don't you move to Peru and start an alpaca-sock exporting business?  All these fools willing to pay $20 a pair, you'd be laughing!

Selling socks isn't exactly my dream. Also, that's exactly what dozens/hundreds of other people are doing.

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ErgoOne
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July 05, 2011, 11:21:49 PM
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what kind of loser buys socks for $20?

In Peru you can get the same socks for 1-2 USD. I'm with you.

Sure, but you first have to find somebody to sell them to you.  If they're online, they'll charge more.  If they aren't, you'll pay to contact them.  Then you have to pay for shipping/handling from Peru, which isn't cheap either.

$20 for a pair of socks is expensive, no question about it.  But if the socks are anything like the other knitted alpaca items I own, you'll love them.  So why not negotiate with the seller?  (Or, for that matter, get a quote in $ USD -- if it's cheaper that way, you can buy that way.) Wink
KMBTC11
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July 06, 2011, 12:17:28 AM
 #14

Some people buy Ferraris, we buy socks.

It is the status symbol of choice for Bitcoin gazillionares the worldwide.

See, now I want some of those socks.

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July 07, 2011, 04:16:33 AM
 #15

Some people buy Ferraris, we buy socks.

Change the website from "weusecoins" to "webuysocks"

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July 07, 2011, 04:23:34 AM
 #16

If you are bitcoin rich the ultimate luxury item is $20 socks

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July 07, 2011, 04:55:29 AM
 #17

what kind of loser buys socks for $20?

Some people buy Ferraris, we buy socks.

It is the status symbol of choice for Bitcoin gazillionares the worldwide.

Nice.

... and the more bitcoin you splashed out on socks the higher up the totem pole you must be.

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