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Author Topic: Has it gotten better for you?  (Read 2082 times)
BTCisthefuture
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December 23, 2013, 10:28:12 AM
 #21

Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions.  Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.
If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.

there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.

Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much.  Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
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December 23, 2013, 10:36:58 AM
 #22

Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions.  Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.
If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.

there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.

Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much.  Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.

This is flawed, you can apply the same to the $ if you want to spend in euros, for example.
For the same reason, if I want to spend 1 bitcoin today it's still 1 bitcoin tomorrow, etc...
hilariousandco
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December 23, 2013, 10:39:27 AM
 #23

Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions.  Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.
If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.

there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.

Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much.  Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.

Depends what country's fiat you're using and how stable their economy is. Zimbabwe abandoned their own Dollar for others in 2009, and now largely use US dollars. Maybe other countries will get rid of their own currency in favour of cryptos in the future. But I get what you're saying about Bitcoins fluctuations, but we must remember this is still the early days of a essentially new type of currency. I'm sure it will steady off in the future and maybe people won't peg it to fiat and maybe even the other way round.

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BTCisthefuture
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December 23, 2013, 11:03:23 AM
 #24

Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions.  Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.
If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.

there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.

Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much.  Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.

Depends what country's fiat you're using and how stable their economy is. Zimbabwe abandoned their own Dollar for others in 2009, and now largely use US dollars. Maybe other countries will get rid of their own currency in favour of cryptos in the future. But I get what you're saying about Bitcoins fluctuations, but we must remember this is still the early days of a essentially new type of currency. I'm sure it will steady off in the future and maybe people won't peg it to fiat and maybe even the other way round.

Oh I certainly don't disagree that the volatility of bitcoin should smooth out as time progresses and the market gets larger. Small markets are always pretty volatile. And yes I'm aware of other countries collapsing or getting rid of certain currencies , but again most people spending money are thinking about what they are buying RIGHT NOW , not about whether or not America (Just using america as an example) is going to collapse in their lifetime and the dollar disappears. 

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
BTCisthefuture
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December 23, 2013, 11:08:50 AM
 #25

Now as far as using bitcoin being used as a currency..... I am starting to worrying must people are viewing bitcoin simply as an investment or a way to quick rich instead of actually using it as a way to make transactions.  Now there's nothing wrong that since there is nothing that says bitcoin has to be one or the other or that bitcoin cant both be an investment and a currency..... I just start to wonder how likely places are going to be to accept bitcoin if most people aren't even spending their bitcoins and if most places never accept bitcoin how long until it stops expanding and people get "bored" of it and move on.
If prices go down in a bear market like now, people will start to spend them. They realize that on the short term, they have nothing to gain from holding. The corrections are good for business because the money starts flowing and nobody wants to hold their bitcoins if they lose value.

there are all kinds of holders.. long-term and panic ones. if you put in $800 per coin, and it drops to $600, you might want to continue holding for fear of losing $200 per coin.

Yes it works both ways. I think the overall point is that it's hard for something to be used a currency to pay for things when the value changes so much.  Say what you want about fiat currency but people still know that if they want to spend $10 today its still $10 tomorrow, its still $10 next week, most likely its still $10 next year , after that spending power of it starts to change but still not like bitcoin where $10 right now could be $8-12 even just hours later.

This is flawed, you can apply the same to the $ if you want to spend in euros, for example.
For the same reason, if I want to spend 1 bitcoin today it's still 1 bitcoin tomorrow, etc...

I would disagree it's flawed, the reality (currently) is that if you want to buy $20 worth of groceries tonight it's going to be the same amount tomorrow or next week or next month (not including things like sales or seasonal foods of course).  While 1btc is still 1btc , if you wan'ted to buy 1btc worth of groceries tonight and you put it off until tomorrow, suddenly the amount of groceries you get is going to be quite differe wether it's more or less. And for people wanting to buy groceries (or most items) they don't like that level of instability and uncertainty. They prefer to know they can get the same amount of groceries next month that they can get right now.

Things could and I think should change in the coming yes but regardless of how much you like bitcoin it is a reality right now that it's not  practical currency for shopping as of right now.

Hourly bitcoin faucet with a gambling twist !  http://freebitco.in/?r=106463
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December 23, 2013, 11:12:35 AM
 #26

I'm investing little by little but at the moment I've only invested a quarter of the sum I intend to invest. This means I'm constantly worrying about 'missing the train' which makes me check the price a ridiculous number of times a day.

Its hard to know at the moment. Are we going back to $300, or going to stabilize at $600 to $700 and kick on in the new year ... nobody knows.
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December 23, 2013, 12:25:12 PM
 #27

I'm investing little by little but at the moment I've only invested a quarter of the sum I intend to invest. This means I'm constantly worrying about 'missing the train' which makes me check the price a ridiculous number of times a day.

Its hard to know at the moment. Are we going back to $300, or going to stabilize at $600 to $700 and kick on in the new year ... nobody knows.

I reckon it'll stay relatively stable until the new year now, unless there's some unexpected big news, but I can't see any. I'm sure it'll be a wild ride in 2014 though Smiley.

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bythesea
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December 23, 2013, 12:47:05 PM
 #28

I don't panic. I don't see the reason to do that. I invested some amount that I more then quadruple.
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December 23, 2013, 02:17:23 PM
 #29

I don't panic. I don't see the reason to do that. I invested some amount that I more then quadruple.

That's the way to do it with bitcoins. Fire and forget.
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December 23, 2013, 02:53:25 PM
 #30

Price goes up, price goes down, the blockchain keeps plodding along.


hilariousandco
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December 23, 2013, 04:07:20 PM
 #31

I don't panic. I don't see the reason to do that. I invested some amount that I more then quadruple.

I was up over 1000% at Bitcoin's peak.

Price goes up, price goes down, the blockchain keeps plodding along.



Ha. Something to do with the tides I think  Grin.

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btcmonster
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December 23, 2013, 07:25:13 PM
 #32

better and better dont really care of the big dumps. but what sucks is that people will be scared that the same will happen in the us as in china :/
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