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Author Topic: Bitcoin is approaching its usable value  (Read 1552 times)
bitcola (OP)
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October 26, 2011, 08:09:41 PM
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I bought it in at 5. Annoyed to see it at $2.50.

This tells me one thing. It is going to go down till it reaches its usable value.

Given that hardly anyone trades in it, I see it plumetting all the way to a matter of cents. It won't even be worth a buck.

Might sell out my tiny holding tonight. Or use it to buy something - anyone got any ideas where I can splurge it on something actually useful?

According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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wobber
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October 26, 2011, 08:16:43 PM
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How much do you want to sell? Go to the trade page of the wiki to find stores.

If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
miscreanity
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October 26, 2011, 08:22:39 PM
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Understanding capital flows will help bolster your confidence. Right now, there is very little external wealth flowing into or out of Bitcoin. After a period of time, which looks to be relatively short-lived, there is a high likelihood that Bitcoin will resume its gradual ascent in relation to other currencies that are becoming less desirable.

Patience.
bitcola (OP)
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October 26, 2011, 08:33:38 PM
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Understanding capital flows will help bolster your confidence. Right now, there is very little external wealth flowing into or out of Bitcoin. After a period of time, which looks to be relatively short-lived, there is a high likelihood that Bitcoin will resume its gradual ascent in relation to other currencies that are becoming less desirable.

Patience.

It can take years for the fundamentals to play out. I don't want to wait years for my 15 bitcoins to be worth $5 each again.

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October 26, 2011, 10:08:58 PM
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Understanding capital flows will help bolster your confidence. Right now, there is very little external wealth flowing into or out of Bitcoin. After a period of time, which looks to be relatively short-lived, there is a high likelihood that Bitcoin will resume its gradual ascent in relation to other currencies that are becoming less desirable.

Patience.

It can take years for the fundamentals to play out. I don't want to wait years for my 15 bitcoins to be worth $5 each again.

or it could take 3 mo.
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October 27, 2011, 12:48:55 AM
 #6

I bought it in at 5. Annoyed to see it at $2.50.

This tells me one thing. It is going to go down till it reaches its usable value.

Given that hardly anyone trades in it, I see it plumetting all the way to a matter of cents. It won't even be worth a buck.

Might sell out my tiny holding tonight. Or use it to buy something - anyone got any ideas where I can splurge it on something actually useful?

Silkroad.

buy some drugs, make yourself happy again Wink
adamstgBit
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October 27, 2011, 01:40:03 AM
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check out this site, it lists over 700 bitcoin sites you can buy stuff with

http://www.thebitcoinreview.com/

mobodick
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October 27, 2011, 04:17:24 PM
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check out this site, it lists over 700 bitcoin sites you can buy stuff with

http://www.thebitcoinreview.com/


Yeah, it's realy nice and all, but did you check if the links actually work?
I tried one and it sent me to one of those 'parked domain, click here for anything you may think you want' pages.
Not a good sign.
skilo
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October 29, 2011, 10:11:45 PM
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Its on its way back up again now, at $3.50 as i type this.

I bought in at $14 then sold when it hit $13 as i noticed a drop starting to happen.

Then it stabilized at $4 for a while then it dropped to $2 or less but im still in at $4, gonna just hang on a see what happens.
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