bitcoinsrus
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:27:47 PM |
|
Been chatting with some IRL friends about bitcoin. This one guy, total gold bug btw, refuses to touch btc. I ask him, "why"? And he replies " gold can one day become a low value, I'll admit. But never zero, as it is physical, and has industrial uses, so if nothing else would be used by industries. Bitcoin on the other hand is digital, so has no "bottom line" per se". He has me stumped, and I like to win ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Any suggestions? ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fcdn.memegenerator.net%2Finstances%2F250x250%2F43941316.jpg&t=665&c=uTFtpdVPZwuUgA)
|
|
|
|
twiifm
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:29:02 PM |
|
Yes thats true. Does BTC have features that would keep it from going to zero?
Except a competitor could have the same features
|
|
|
|
precrime3 (OP)
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:30:13 PM |
|
Yes thats true. Does BTC have features that would keep it from going to zero?
Except a competitor could have the same features By competitor you mean coin? Well yeah, basically all coins are btc coins, but no company allows basically fee-less transactions, instantly around the world.
|
|
|
|
twiifm
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:31:35 PM |
|
Yes thats true. Does BTC have features that would keep it from going to zero?
Except a competitor could have the same features By competitor you mean coin? Well yeah, basically all coins are btc coins, but no company allows basically fee-less transactions, instantly around the world. I mean altcoins or ripple
|
|
|
|
Kenshin
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:32:28 PM |
|
I don't think it will ever go back to zero.
|
|
|
|
precrime3 (OP)
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:33:37 PM |
|
Yes thats true. Does BTC have features that would keep it from going to zero?
Except a competitor could have the same features By competitor you mean coin? Well yeah, basically all coins are btc coins, but no company allows basically fee-less transactions, instantly around the world. I mean altcoins or ripple Ripple is going be huge, its a payment system which was meant to complement coins, not compete. Personally, Ripple has much promise and so does Nxt, just gotta wait for the corporates to get a hold of it.
|
|
|
|
twiifm
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:36:24 PM |
|
Yes thats true. Does BTC have features that would keep it from going to zero?
Except a competitor could have the same features By competitor you mean coin? Well yeah, basically all coins are btc coins, but no company allows basically fee-less transactions, instantly around the world. I mean altcoins or ripple Ripple is going be huge, its a payment system which was meant to complement coins, not compete. Personally, Ripple has much promise and so does Nxt, just gotta wait for the corporates to get a hold of it. I agree. Better to invest in businesses because there is cash flow. Thats why you dont park your money in USD. You buy JP Morgan or Visa Mastercard stock
|
|
|
|
CoinDiver
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:39:17 PM |
|
I'm just waiting for the bottom to buy more. I've been buying the whole way down. I'll buy the whole way back up too.
|
|
|
|
precrime3 (OP)
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:40:49 PM |
|
I'm just waiting for the bottom to buy more. I've been buying the whole way down. I'll buy the whole way back up too.
Why don't you just buy at the bottom, and get more btc for your fiat?
|
|
|
|
Meman
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 92
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:46:01 PM |
|
I'm just waiting for the bottom to buy more. I've been buying the whole way down. I'll buy the whole way back up too.
I think, once the bottom is reached, you may have sold all your bitcoins in desperation.
|
|
|
|
cbutters
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 05:51:06 PM |
|
I am totally bullish on bitcoin, but as a thought expirement. It can go to zero... all of the posters here fail to realize that once bitcoin falls into a certain level of disinterest, the blockchain hashrate would fall so far, that it would almost surely be forked, and all bitcoin would become worthless at that point.
|
|
|
|
precrime3 (OP)
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:10:07 PM |
|
I am totally bullish on bitcoin, but as a thought expirement. It can go to zero... all of the posters here fail to realize that once bitcoin falls into a certain level of disinterest, the blockchain hashrate would fall so far, that it would almost surely be forked, and all bitcoin would become worthless at that point.
That's when I would start mining again xD
|
|
|
|
jamesc760
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:20:06 PM |
|
It's possible but extremely, highly, improbable. I'd bet on a bitcoin going to $100000 than $0.
|
|
|
|
DubFX
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:21:00 PM |
|
It will prob happen in few years but not that soon for sure.
|
|
|
|
amencon
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:38:35 PM |
|
I'm just waiting for the bottom to buy more. I've been buying the whole way down. I'll buy the whole way back up too.
Why don't you just buy at the bottom, and get more btc for your fiat? If he knew for sure where the bottom was ahead of time, then sure I'm relatively certain he'd do just that. On topic to your post, I don't really get why having some marginal "use value" is comforting to PM bugs. If PMs or Bitcoin crash to some very low floor value (2% of current value, or whatever), the odds are the investor will dump it at some point in either case at some point in it's plummet to zero or near zero. If speculative value of Gold goes away your friend's 10k investment in Gold might be worth a few hundred dollar, whoopty-doo? Can't see how that trumps all the advantages Bitcoin brings as a decentralized network of near instant value exchange.
|
|
|
|
precrime3 (OP)
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:43:34 PM |
|
I'm just waiting for the bottom to buy more. I've been buying the whole way down. I'll buy the whole way back up too.
Why don't you just buy at the bottom, and get more btc for your fiat? If he knew for sure where the bottom was ahead of time, then sure I'm relatively certain he'd do just that. On topic to your post, I don't really get why having some marginal "use value" is comforting to PM bugs. If PMs or Bitcoin crash to some very low floor value (2% of current value, or whatever), the odds are the investor will dump it at some point in either case at some point in it's plummet to zero or near zero. If speculative value of Gold goes away your friend's 10k investment in Gold might be worth a few hundred dollar, whoopty-doo? Can't see how that trumps all the advantages Bitcoin brings as a decentralized network of near instant value exchange. Yeah that's true, and I consider the bottom when prices/ hype starts going up again when the prices have crashed for a while.
|
|
|
|
atp1916
Legendary
Offline
Activity: 854
Merit: 1000
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:45:53 PM |
|
The Bitcoin ecosystem is far mature even now than it was 6 months ago, and lightyears ahead of where it was a year or years ago.
Bitcoin will never go back to 0, ever.
|
|
|
|
amencon
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:49:44 PM |
|
I'm just waiting for the bottom to buy more. I've been buying the whole way down. I'll buy the whole way back up too.
Why don't you just buy at the bottom, and get more btc for your fiat? If he knew for sure where the bottom was ahead of time, then sure I'm relatively certain he'd do just that. On topic to your post, I don't really get why having some marginal "use value" is comforting to PM bugs. If PMs or Bitcoin crash to some very low floor value (2% of current value, or whatever), the odds are the investor will dump it at some point in either case at some point in it's plummet to zero or near zero. If speculative value of Gold goes away your friend's 10k investment in Gold might be worth a few hundred dollar, whoopty-doo? Can't see how that trumps all the advantages Bitcoin brings as a decentralized network of near instant value exchange. Yeah that's true, and I consider the bottom when prices/ hype starts going up again when the prices have crashed for a while. If you can time it right you can make a lot of money. So far I've been pretty bad at it when I've tried though (one good call worth a bunch of bitcoins has pretty much let me break even on a further string of bad trading calls, I've since stopped trying since I'm not willing to put enough work into it not to get slaughtered in this market).
|
|
|
|
precrime3 (OP)
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 84
Merit: 10
PM for journalist,typing,and data entry services.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 06:51:23 PM |
|
You could always set your own "bottom". Just be like "okay, if it makes $xxx, then I will buy"
|
|
|
|
TERA
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
April 10, 2014, 07:10:56 PM |
|
When EC is broken and I have the ability to steal any bitcoin I want for free, does that count as trading at $0?
|
|
|
|
|