I'm Out

[ryanmnercer]

silver to me is useless, just a space waster. bitcoin, i can totally send it to my peers anywhere in the world. i dont see myself getting rich in silver anyway

Bitcoin isn't for getting rich, that's the reason the prices are so volatile... people like YOU are trying to get rich, when it peaks you sell triggering a fall in value, eventually you buy more back. We wouldn't nearly as crazy of a roller coaster on historical price charts without people like YOU trying to get RICH off of bitcoin. It's a currency, a method of exchanging perceived value... it's not a stock/bond/or other investment. People like YOU are what might someday kill bitcoin.

[seleme]

I'll trade my coins til sun shines, I'll cashout some when I feel too but I'll never sell all my bitcoins. Never.

[miroman86]

silver to me is useless, just a space waster. bitcoin, i can totally send it to my peers anywhere in the world. i dont see myself getting rich in silver anyway

Bitcoin isn't for getting rich, that's the reason the rpices are so volatile... people like YOU are trying to get rich, when it peaks you sell triggering a fall in value, eventually you buy more back. We wouldn't nearly as crazy of a roller coaster on historical price charts without people like YOU trying to get RICH off of bitcoin. It's a currency, a method of exchanging perceived value... it's not a stock/bond/or other investment. People like YOU are what might someday kill bitcoin.

I second that...

[ryanmnercer]

If you got scared in losing 5 dollars worth of  BTC then stick to watching then playing in this game, leave it for the big boys.

can you not read? He said he's been involved in BTC since it was worth about 5$.

This is going to turn into a regret thread later this year lol

Could be the regret thread for YOU too when you go "damn, that dude was smart, he got out before it hit 10 cents!". WE. DON'T. KNOW. WHAT. BITCOINS. FUTURE. WILL. BE. It's not a get rich quick thing, it's not an investment, it's a currency... stop treating it like your lottery ticket.

[~Coinseeker~]

If you got scared in losing 5 dollars worth of  BTC then stick to watching then playing in this game, leave it for the big boys.

can you not read? He said he's been involved in BTC since it was worth about 5$.

This is going to turn into a regret thread later this year lol

Could be the regret thread for YOU too when you go "damn, that dude was smart, he got out before it hit 10 cents!". WE. DON'T. KNOW. WHAT. BITCOINS. FUTURE. WILL. BE. It's not a get rich quick thing, it's not an investment, it's a currency... stop treating it like your lottery ticket.

It could have been a currency, but as you rightly point out, the get rich quick, buy and hold mentality, turned it into a speculative commodity.  Now the IRS has labeled it based on that fact and rendered it virtually useless as a currency for average Joe's.  The parties over.  Greed did it in.

[jubalix]

what....you don't see how powerful BTC is that's it got the world powers running scared. The more Govs try to ban, hinder and tax BTC the brighter BTC's future and the more GOVs consign themselves to irrelevance.

and they can't ban BTC. Also there will be plenty of Chinese GOV officials buy BTC. Think of them as extra loud FUD.

[jubalix]

So why is the hashpower still rising?
Do the miners know something we don't?

chinese gov joined the mining game.

[LiteCoinGuy]

Look at the fundamentals. The attention to taxation is bullish. The fact that they are addressing it says that Bitcoin has arrived and is making an impact.

Bull run isn't over.

Central banks still printing like crazy.

2014 is the year of regulation. it was clear that this will happen and it will help BTC in the long run in my view.

[~Coinseeker~]

what....you don't see how powerful BTC is that's it got the world powers running scared. The more Govs try to ban, hinder and tax BTC the brighter BTC's future and the more GOVs consign themselves to irrelevance.

and they can't ban BTC. Also there will be plenty of Chinese GOV officials buy BTC. Think of them as extra loud FUD.

Running scared?  Delusional or denial.  You pick.  

http://media.coindesk.com/2014/04/Fitch_Bitcoin_Transaction-Volumes.jpg

http://media.coindesk.com/2014/04/Fitch_Bitcoin_Currency-Comparison.jpg

[rix5]

worst time to get out actually. Right now i tell everybody to get in.

... well at least OP is in silver and not in fiat. He will be alright.

[atp1916]

Look at the fundamentals. The attention to taxation is bullish. The fact that they are addressing it says that Bitcoin has arrived and is making an impact.

Bull run isn't over.

Central banks still printing like crazy.

2014 is the year of regulation. it was clear that this will happen and it will help BTC in the long run in my view.

Yep.  Real companies are able to get involved now.  There are certainly taxation compliance issues and integrating those fixes into business models, but there's nothing but smart people working in the Bitcoin tech sector and it will be done.

A whole new sub-sector of Bitcoin is starting up: tax services!

[BADecker]

worst time to get out actually. Right now i tell everybody to get in.

... well at least OP is in silver and not in fiat. He will be alright.

Good idea. See "How Isaac Newton went flat broke chasing a stock bubble" at http://www.sovereignman.com/finance/how-isaac-newton-went-flat-broke-chasing-a-stock-bubble-13268/.

Will Bitcoin ever go back up? If things continue on about like they are now it will. Why? Because it is the most stable currency around, not being based on the stupidity of the central bankers.

But the real reason Bitcoin will go up is that the innovation that is Bitcoin is just starting. Mastercoin and Counterparty are building new ideas on bitcoin. And MaidSafe is exploiting some of the Bitcoin ideas in entirely grand ways.

If things continue along as they are going now, the governments of the world will eventually become Bitcoin-style, blockchain regulated and decentralized among the people. Freedom will abound. Bitcoin has just scratched the surface of the greatness it has the chance to become. See: https://bitcointalk.org/index.php?topic=551676.msg6026390#msg6026390.

[Swordsoffreedom]

worst time to get out actually. Right now i tell everybody to get in.

... well at least OP is in silver and not in fiat. He will be alright.

True enough solid commodities will hold out fine but he did get in at 5 dollars so raking in profits never hurts
Although in my opinion he could have sold a lot more at 1k we don't know his sell prices

[g4c]

what....you don't see how powerful BTC is that's it got the world powers running scared. The more Govs try to ban, hinder and tax BTC the brighter BTC's future and the more GOVs consign themselves to irrelevance.

and they can't ban BTC. Also there will be plenty of Chinese GOV officials buy BTC. Think of them as extra loud FUD.

Running scared?  Delusional or denial.  You pick.  

Agreed, market cap is still teeny weeny.

Lots of room to grow, which is nice.

[herebittybittybitty]

Generally speaking, I think the best time to buy is when you most feel like selling. In this case, though, I think bitcoin is still significantly overvalued for an important reason.

I think it was/is a mistake to price value into bitcoin based on acceptance by governments. Bitcoin is a thorn in governments' side. I think it's here to stay, but it will always have a fringey aura about it, and it will become flat out illegal in some economically significant countries.

[Hollowman338]

and finally, capitulation

[Swordsoffreedom]

what....you don't see how powerful BTC is that's it got the world powers running scared. The more Govs try to ban, hinder and tax BTC the brighter BTC's future and the more GOVs consign themselves to irrelevance.

and they can't ban BTC. Also there will be plenty of Chinese GOV officials buy BTC. Think of them as extra loud FUD.

Running scared?  Delusional or denial.  You pick.  

Agreed, market cap is still teeny weeny.

Lots of room to grow, which is nice.

That's a pretty neat chart I see its a coindesk one but can you link to the article?

[~Coinseeker~]

http://www.coindesk.com/fitch-regulation-rob-bitcoin-low-cost-appeal/

[BADecker]

Generally speaking, I think the best time to buy is when you most feel like selling. In this case, though, I think bitcoin is still significantly overvalued for an important reason.

I think it was/is a mistake to price value into bitcoin based on acceptance by governments. Bitcoin is a thorn in governments' side. I think it's here to stay, but it will always have a fringey aura about it, and it will become flat out illegal in some economically significant countries.

The value is in what the people think. The more that governments infringe on peoples' rights, the more people look for freedom in other ways. Bitcoin scares government. Government moves to stall Bitcoin. People start to use Bitcoin in loads of ways that bypass governmental stalls. Government seeks to stop Internet deployment of Bitcoin. People use Maidsafe to bypass Internet altogether. Government seeks to regulate ISPs. People move into direct radio Maidsafe bypassing the ISPs.

It goes on and on because of the start that was made with Bitcoin. Government will fail because the money system will come crashing down in the near future, before they can implement final and complete controls.

The biggest thing that government has going for it is its lying politicians. They just might sway the people out of Bitcoin with lying promises of wealth and security from some other-than-Bitcoin source. If it isn't this, it will be their threats of punishment for attempting to bypass government.

The major benefit that governments will offer in the future is, the conversion from the U.S. dollar to the IMF currency. When this happens, it will all depend on what people think.

[rix5]

and finally, capitulation

buy, buy, buy