![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 28, 2014, 08:55:51 PM |
|
my only thought is that turning bitcoins into cash sucks for people who believe in bitcoins. Most people feel they'll go up so think of it this way. you deposit one bitcoin at $800. you double that money and now you have $1600, but in the interim bitcoins value rises to $1000. when you cashout you either lost some money in the conversion or you get 1.6 BTC back (not the 2 you should have for doubling your investment).
that opposite can happen and bitcoins could decline in value and then you made some, but people who hold bitcoins are 99% sure they'll be a lot higher than what they are now.
the ideal situation is to bet bitcoins for bitcoins, no conversion to any cash. this means you either bet 1 btc to win 1 btc or when you buy into a site for bitcoins there's a standard conversion. 1 btc = 500 chips. then when you turn it into more chips you just convert the chips back into bitcoins. 500 chips turns into 2500 chips which is 5x. your 1 btc is now 5btc. chip value is constant so it doesn't matter what the value of a bitcoin is.
|