Poll: Bitcoin price velocity dictates my strategy...but what happens next?

[Altoidnerd]

I have a question for all of you in regards to monetary strategy.  The question addresses bitcoin's intrinsic value vs its value today, due to obvious non equilibrium economic forces.

The question presupposes some facts.  I'm interested in other's viewpoints on my presupposition(s) here as well as the final, somewhat easier question:will you still be buying BTC just "because" many years from now?

• At the present time, the bitcoin price velocity and momentum have me convinced that I need to convert every dollar I make that I can afford to lose into bitcoin now.  I also do not spend the BTC because of the clear benefit to holding them. Conclusion: today, my desire is to hold as few US dollars as is reasonable or safe for me to do so, in favor of any other asset, but particularly bitcoin.

• We all know the price velocity is because bitcoin is still climbing to its equilibrium value as more people become aware of the currency.

• Some of you may disagree with this supposition, but let us entertain the question below given: it is true that bitcoin's price cannnot increase indefinitely against any other currency - that is, there is a state in which the bitcoin strength against other currencies is roughly constant over "long enough" times.  (For example, for at least 4 years now, I have used the factor 4/3 to go from USD to EUR without looking at the markets.  How often was I wrong?)

Here's the question I have for all of you:

Poll: If bitcoin were at equilibrium (price velocity no longer dictated by its "newness", would you actually want to hold all of your liquid in bitcoin rather than USD?  I would NOT want to do that.  Hell no.  Simply put, there are benefits to each USD and BTC.  I would simply switch between the two as needed - why not? The equilibrium of the economies makes this a very unrisky and easy thing to do.  That such a thing will happen to bitcoin is my supposition, as well as my opinion.

My reasoning that bitcoin must come to price equilibrium with USD is somewhat a result of my conclusion that I would not always want to hold only BTC, which I realize is circular logic.

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[BitchicksHusband]

I have a question for all of you in regards to monetary strategy.  The question addresses bitcoin's intrinsic value vs its value today, due to obvious non equilibrium economic forces.

The question presupposes some facts.  I'm interested in other's viewpoints on my presupposition(s) here as well as the final, somewhat easier question:will you still be buying BTC just "because" many years from now?

• At the present time, the bitcoin price velocity and momentum have me convinced that I need to convert every dollar I make that I can afford to lose into bitcoin now.  I also do not spend the BTC because of the clear benefit to holding them. Conclusion: today, my desire is to hold as few US dollars as is reasonable or safe for me to do so, in favor of any other asset, but particularly bitcoin.

• We all know the price velocity is because bitcoin is still climbing to its equilibrium value as more people become aware of the currency.

• Some of you may disagree with this supposition, but let us entertain the question below given: it is true that bitcoin's price cannnot increase indefinitely against any other currency - that is, there is a state in which the bitcoin strength against other currencies is roughly constant over "long enough" times.  (For example, for at least 4 years now, I have used the factor 4/3 to go from USD to EUR without looking at the markets.  How often was I wrong?)

Here's the question I have for all of you:

Poll: If bitcoin were at equilibrium (price velocity no longer dictated by its "newness", would you actually want to hold all of your liquid in bitcoin rather than USD?  I would NOT want to do that.  Hell no.  Simply put, there are benefits to each USD and BTC.  I would simply switch between the two as needed - why not? The equilibrium of the economies makes this a very unrisky and easy thing to do.  That such a thing will happen to bitcoin is my supposition, as well as my opinion.

My reasoning that bitcoin must come to price equilibrium with USD is somewhat a result of my conclusion that I would not always want to hold only BTC, which I realize is circular logic.

The risk of $ is that they get less in value every day, but very slowly.  

The risk of BTC is that if someone cracks the encryption, you could lose everything overnight.

If I were a bitcoin millionaire, I would definitely invest some in real estate, gold, and have an account with no more than the FDIC limit in it, and keep the rest still in BTC for ease of transfer and, by then, use.

[theonewhowaskazu]

I have a question for all of you in regards to monetary strategy.  The question addresses bitcoin's intrinsic value vs its value today, due to obvious non equilibrium economic forces.

The question presupposes some facts.  I'm interested in other's viewpoints on my presupposition(s) here as well as the final, somewhat easier question:will you still be buying BTC just "because" many years from now?

• At the present time, the bitcoin price velocity and momentum have me convinced that I need to convert every dollar I make that I can afford to lose into bitcoin now.  I also do not spend the BTC because of the clear benefit to holding them. Conclusion: today, my desire is to hold as few US dollars as is reasonable or safe for me to do so, in favor of any other asset, but particularly bitcoin.

• We all know the price velocity is because bitcoin is still climbing to its equilibrium value as more people become aware of the currency.

• Some of you may disagree with this supposition, but let us entertain the question below given: it is true that bitcoin's price cannnot increase indefinitely against any other currency - that is, there is a state in which the bitcoin strength against other currencies is roughly constant over "long enough" times.  (For example, for at least 4 years now, I have used the factor 4/3 to go from USD to EUR without looking at the markets.  How often was I wrong?)

Here's the question I have for all of you:

Poll: If bitcoin were at equilibrium (price velocity no longer dictated by its "newness", would you actually want to hold all of your liquid in bitcoin rather than USD?  I would NOT want to do that.  Hell no.  Simply put, there are benefits to each USD and BTC.  I would simply switch between the two as needed - why not? The equilibrium of the economies makes this a very unrisky and easy thing to do.  That such a thing will happen to bitcoin is my supposition, as well as my opinion.

My reasoning that bitcoin must come to price equilibrium with USD is somewhat a result of my conclusion that I would not always want to hold only BTC, which I realize is circular logic.

The risk of $ is that they get less in value every day, but very slowly.  

The risk of BTC is that if someone cracks the encryption, you could lose everything overnight.

If I were a bitcoin millionaire, I would definitely invest some in real estate, gold, and have an account with no more than the FDIC limit in it, and keep the rest still in BTC for ease of transfer and, by then, use.

This is the best way of summing up the risk with investing in Bitcoin. I think everybody at this point should understand that Bitcoin isn't going to "die" due to lack of use. If Bitcoin dies, its going to be because its encryption gets screwed somehow.

[Altoidnerd]

I have a question for all of you in regards to monetary strategy.  The question addresses bitcoin's intrinsic value vs its value today, due to obvious non equilibrium economic forces.

The question presupposes some facts.  I'm interested in other's viewpoints on my presupposition(s) here as well as the final, somewhat easier question:will you still be buying BTC just "because" many years from now?

• At the present time, the bitcoin price velocity and momentum have me convinced that I need to convert every dollar I make that I can afford to lose into bitcoin now.  I also do not spend the BTC because of the clear benefit to holding them. Conclusion: today, my desire is to hold as few US dollars as is reasonable or safe for me to do so, in favor of any other asset, but particularly bitcoin.

• We all know the price velocity is because bitcoin is still climbing to its equilibrium value as more people become aware of the currency.

• Some of you may disagree with this supposition, but let us entertain the question below given: it is true that bitcoin's price cannnot increase indefinitely against any other currency - that is, there is a state in which the bitcoin strength against other currencies is roughly constant over "long enough" times.  (For example, for at least 4 years now, I have used the factor 4/3 to go from USD to EUR without looking at the markets.  How often was I wrong?)

Here's the question I have for all of you:

Poll: If bitcoin were at equilibrium (price velocity no longer dictated by its "newness", would you actually want to hold all of your liquid in bitcoin rather than USD?  I would NOT want to do that.  Hell no.  Simply put, there are benefits to each USD and BTC.  I would simply switch between the two as needed - why not? The equilibrium of the economies makes this a very unrisky and easy thing to do.  That such a thing will happen to bitcoin is my supposition, as well as my opinion.

My reasoning that bitcoin must come to price equilibrium with USD is somewhat a result of my conclusion that I would not always want to hold only BTC, which I realize is circular logic.

The risk of $ is that they get less in value every day, but very slowly.  

The risk of BTC is that if someone cracks the encryption, you could lose everything overnight.

If I were a bitcoin millionaire, I would definitely invest some in real estate, gold, and have an account with no more than the FDIC limit in it, and keep the rest still in BTC for ease of transfer and, by then, use.

This is the best way of summing up the risk with investing in Bitcoin. I think everybody at this point should understand that Bitcoin isn't going to "die" due to lack of use. If Bitcoin dies, its going to be because its encryption gets screwed somehow.

Honestly, seconded to the max. Shit maybe I'd buy fields of corn.  No idea...but I'll tell you this - the paranoia of having accidentally fucked up and lost a private key is real.  There is no way I'd want to hold lots of coin if the price were stable....I'd obtain it as needed, and that is all.

For now, I have the "burden" of watching the price rise and rise.  Don't get me wrong...it's excellent...I guess.  The amount of time I spend on management increases, as does my eye on the market...

And the unsettling thought arises...where does this end?  I can watch the bitcoin price relative to USD rise and rise and rise...what does it even mean to me, though, since I know it would be a bad financial decision to sell the coins and turn them into shitty USD.  I need to turn them into something else because I want neither shitty fiat nor paranoia inducing copies upon copies upon distributions of .dat files.

A great question I think is... what is the exit strategy for the bitcoin investor, who thinks holding lots of and paying for EVERYTHING in bitcoin is neither attractive nor feasible?  I flat out know I do not want the responsibility of managing these coins, but selling to USD is out of the question and will be for who knows for how long.  What type of investment are you all thinking?

[theonewhowaskazu]

I have a question for all of you in regards to monetary strategy.  The question addresses bitcoin's intrinsic value vs its value today, due to obvious non equilibrium economic forces.

The question presupposes some facts.  I'm interested in other's viewpoints on my presupposition(s) here as well as the final, somewhat easier question:will you still be buying BTC just "because" many years from now?

• At the present time, the bitcoin price velocity and momentum have me convinced that I need to convert every dollar I make that I can afford to lose into bitcoin now.  I also do not spend the BTC because of the clear benefit to holding them. Conclusion: today, my desire is to hold as few US dollars as is reasonable or safe for me to do so, in favor of any other asset, but particularly bitcoin.

• We all know the price velocity is because bitcoin is still climbing to its equilibrium value as more people become aware of the currency.

• Some of you may disagree with this supposition, but let us entertain the question below given: it is true that bitcoin's price cannnot increase indefinitely against any other currency - that is, there is a state in which the bitcoin strength against other currencies is roughly constant over "long enough" times.  (For example, for at least 4 years now, I have used the factor 4/3 to go from USD to EUR without looking at the markets.  How often was I wrong?)

Here's the question I have for all of you:

Poll: If bitcoin were at equilibrium (price velocity no longer dictated by its "newness", would you actually want to hold all of your liquid in bitcoin rather than USD?  I would NOT want to do that.  Hell no.  Simply put, there are benefits to each USD and BTC.  I would simply switch between the two as needed - why not? The equilibrium of the economies makes this a very unrisky and easy thing to do.  That such a thing will happen to bitcoin is my supposition, as well as my opinion.

My reasoning that bitcoin must come to price equilibrium with USD is somewhat a result of my conclusion that I would not always want to hold only BTC, which I realize is circular logic.

The risk of $ is that they get less in value every day, but very slowly.  

The risk of BTC is that if someone cracks the encryption, you could lose everything overnight.

If I were a bitcoin millionaire, I would definitely invest some in real estate, gold, and have an account with no more than the FDIC limit in it, and keep the rest still in BTC for ease of transfer and, by then, use.

This is the best way of summing up the risk with investing in Bitcoin. I think everybody at this point should understand that Bitcoin isn't going to "die" due to lack of use. If Bitcoin dies, its going to be because its encryption gets screwed somehow.

Honestly, seconded to the max. Shit maybe I'd buy fields of corn.  No idea...but I'll tell you this - the paranoia of having accidentally fucked up and lost a private key is real.  There is no way I'd want to hold lots of coin if the price were stable....I'd obtain it as needed, and that is all.

For now, I have the "burden" of watching the price rise and rise.  Don't get me wrong...it's excellent...I guess.  The amount of time I spend on management increases, as does my eye on the market...

And the unsettling thought arises...where does this end?  I can watch the bitcoin price relative to USD rise and rise and rise...what does it even mean to me, though, since I know it would be a bad financial decision to sell the coins and turn them into shitty USD.  I need to turn them into something else because I want neither shitty fiat nor paranoia inducing copies upon copies upon distributions of .dat files.

A great question I think is... what is the exit strategy for the bitcoin investor, who thinks holding lots of and paying for EVERYTHING in bitcoin is neither attractive nor feasible?  I flat out know I do not want the responsibility of managing these coins, but selling to USD is out of the question and will be for who knows for how long.  What type of investment are you all thinking?

I think that a physical wallet is a great way to store Bitcoins, something like Trezor. However, I don't think at this point you need to be worried about your wallet if you keep it encrypted, have a backup copy or brainwallet, try to keep your computer virus free, and use onscreen keyboards.

In all seriousness though I just have a brainwallet, I've memorized it and written it down, at this point once you've done that don't worry.