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Author Topic: Will China convert its USD holdings into Bitcoins?  (Read 2205 times)
dree12
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July 31, 2012, 05:39:45 PM
 #21

Not yet.

Translation: "I want to buy bitcoins at < $10 for the next year"

Not really.  Not counting my house, most of my net worth is in BTC already.
Sure, it would be nice, but we're not there yet.

More power to you! I'm hoping for the best also, but my crystal ball isn't clear enough to justify more than 5% networth in BTC at this time. Anything past that and I wouldn't be sleeping well at night.
A significant amount of my net worth is in BTC. I think this is healthy as long as I can liquidate it.
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Spekulatius
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July 31, 2012, 07:09:43 PM
 #22

+1 I dont have much anyway, so Im all in  Grin
notme
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July 31, 2012, 08:10:39 PM
 #23

+1 I dont have much anyway, so Im all in  Grin

Exactly... I own my house, and most of my food is grown by me or my parents-in-law, so this decision can't make me homeless or starving.  I make plenty of cash to pay the utilities.  When I need something and they don't take bitcoin it's easy enough to have money in the bank the next day.  I watch the markets carefully, and I got started right after bitcoin hit $1 for the first time, so I witnessed the giant bubble and the 6 months of pain.  We're much healthier now.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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cbeast
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July 31, 2012, 08:17:24 PM
 #24

Bitcoin is going to be worth a lot. That is a certainty. There will be bubbles, but only relative to s short time frame. It is just silly that everyone that has extra cash laying around is not buying or mining Bitcoin. Silly indeed.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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August 01, 2012, 08:51:09 AM
 #25

+1 I dont have much anyway, so Im all in  Grin

Exactly... I own my house, and most of my food is grown by me or my parents-in-law, so this decision can't make me homeless or starving.  I make plenty of cash to pay the utilities.  When I need something and they don't take bitcoin it's easy enough to have money in the bank the next day.  I watch the markets carefully, and I got started right after bitcoin hit $1 for the first time, so I witnessed the giant bubble and the 6 months of pain.  We're much healthier now.

Did you sell some above 20?
Rygon
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August 01, 2012, 12:32:16 PM
 #26

+1 I dont have much anyway, so Im all in  Grin

Exactly... I own my house, and most of my food is grown by me or my parents-in-law, so this decision can't make me homeless or starving.  I make plenty of cash to pay the utilities.  When I need something and they don't take bitcoin it's easy enough to have money in the bank the next day.  I watch the markets carefully, and I got started right after bitcoin hit $1 for the first time, so I witnessed the giant bubble and the 6 months of pain.  We're much healthier now.

I own my own house too, and make enough to get by, but it's hard to justify invest rainy-day funds or substantial portions of retirement accounts in BTC or BTC investments. It's still in the realm of speculative investing, much like a penny stock. The long-term fundamentals are strong, but I can't risk too much on something that could drop 50% in value overnight due to one website getting hacked (like Mtgox) or the government passing a law against BTC exchanges. On the other hand, it's becoming more and more clear that storing wealth in USD or investing in the stock market are break-even at best, and constantly being undermined by the Fed and the New York banksters...
notme
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August 01, 2012, 04:11:36 PM
 #27

+1 I dont have much anyway, so Im all in  Grin

Exactly... I own my house, and most of my food is grown by me or my parents-in-law, so this decision can't make me homeless or starving.  I make plenty of cash to pay the utilities.  When I need something and they don't take bitcoin it's easy enough to have money in the bank the next day.  I watch the markets carefully, and I got started right after bitcoin hit $1 for the first time, so I witnessed the giant bubble and the 6 months of pain.  We're much healthier now.

Did you sell some above 20?

Very small amounts.  I sold most below 4 Sad.  This time I'm hanging on tight.  I'm not worried because my GPU investment has already been paid off and everything from here on is profit.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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