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Author Topic: The Bitcoin Price  (Read 12351 times)
Seth King
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« on: February 21, 2013, 01:31:47 AM »

Who here is enjoying watching their bitcoin savings skyrocket in value?
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MAM
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« Reply #1 on: February 21, 2013, 02:12:22 AM »

I'm wishing I got in a year ago when bitcoin was trading for less than 2USD a coin.
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Seth King
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« Reply #2 on: February 21, 2013, 02:27:22 AM »

I'm wishing I got in a year ago when bitcoin was trading for less than 2USD a coin.

Don't beat yourself up. In a few years people will be angry they didn't get in when bitcoin was $30. The goal should be to start saving bitcoins NOW.
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« Reply #3 on: February 21, 2013, 02:39:16 AM »

I'm wishing I got in a year ago when bitcoin was trading for less than 2USD a coin.

Don't beat yourself up. In a few years people will be angry they didn't get in when bitcoin was $30. The goal should be to start saving bitcoins NOW.

I need monies before I can do that... Are authors still contributing pro bono? Because whilst I appreciate the site and in fatter times would gladly contribute pro bono now is a drought for me and it's pretty dry. Point is I would prefer to get some coins or whatever it is you're paying to contribute. Ya knows what I is sayin?
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"A stone is heavy and the sand is weighty but a fool's wrath is heavier than them both"-Tuek

"Knowledge is power, and it's light weight. The more you know the less you need."-Cody Lundin

"Hey... it's a haiku

Democracy is
Two Zombies and a Sheriff
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dpalme
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« Reply #4 on: February 21, 2013, 11:11:54 AM »

I wish I had more money to spend on bitcoin. For the past year or so I've been mainly using sites like dailybitcoins.org. Even though the payouts are TINY, I've been able to scrape together about 5BTC, more if I hadn't spent some. When I got into it, bitcoin was $2-3 a pop. In the past couple months the FRN value of my wallet has SOARED. Definitely get into is ASAP.
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SinCityVoluntaryist
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« Reply #5 on: February 21, 2013, 01:05:24 PM »

 I should have purchased these mothers sooner as well. I can't believe their value has skyrocketed above the price of one troy ounce of silver.
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« Reply #6 on: February 21, 2013, 08:34:08 PM »

I don't have much BTC, but I've got some and I certainly would have bought a lot more last year if it were possible at the time.   

The USD/BTC price is volatile, but I see a lot of upside potential.    Is it going to keep going straight up?  Nope.   Those who've been around a while remember when it was over $30 before.   If there is a significant drop, I'm happy because I still believe in the moderate- and far-term potential, and a drop allows me to buy more at a lower price.    Long term, I think anything below $100 is a steal.   
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SinCityVoluntaryist
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« Reply #7 on: February 22, 2013, 12:20:59 AM »

 Imagine what will happen to the damn things after the dollar collapses. O___O
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« Reply #8 on: February 22, 2013, 06:31:56 AM »

Actually, I try not to.    I do think the dollar will collapse, but there's no way to tell when or what "collapse" will really mean.     I think the availability of a viable alternative currency like BTC may hasten the dollar's demise, but I try to separate that from my reasons to support bitcoin.   

Instead, I try to think about how much bitcoin will be worth is just ONE major retailer starts supporting it.   Because the first one will bring in its competitors.    Meanwhile, it seems like every day I hear about some new small businesses (electronics retailers, web service providers) sees the advantages of BTC and starts accepting payment in it.    Each one of those increases the demand (and therefore price) of bitcoin.    Enough small businesses, or just one large one, will push us over $100 easily, and perhaps into $1000 just as easily.    If the current trend keeps up, then all we really need is time because its happening already... slowly, but steadily.     

And that's not even considering the gambling and porn spheres.    Heavy adoption in either of those areas (not even both!) will make current BTC holders rich.   Probably not me, since I don't own that much... but people you know will be very happily awash in lots of extra spending money.    People who are dutifully putting away a tiny percentage of their paycheck into bitcoins and have been doing it for a while?  They'll be rich.    After all, look at what porn did for the internet itself.    And the videotape industry.     Like it or not, prurient interests are a huge driver of advancement.

So yeah... collapse?  Meh.   Bitcoin will skyrocket BEFORE then, for lots of other reasons.   
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« Reply #9 on: February 22, 2013, 07:18:13 AM »

Hm....I'm torn. Should I buy a few more ounces of silver, or a few bitcoins?
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« Reply #10 on: February 22, 2013, 09:22:36 AM »

Hm....I'm torn. Should I buy a few more ounces of silver, or a few bitcoins?

I would invest in both, although that would entirely depend on your income, seeing is how bitcoin is slowly picking up value in relation to gold.

I should have purchased these mothers sooner as well. I can't believe their value has skyrocketed above the price of one troy ounce of silver.

The wonders of market forces.
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dpalme
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« Reply #11 on: February 22, 2013, 06:50:20 PM »

Hm....I'm torn. Should I buy a few more ounces of silver, or a few bitcoins?

Bitcoin is going up in price a lot faster, but as mentioned before, the price has been this high before and then dropped.
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Disengage
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« Reply #12 on: February 22, 2013, 07:34:40 PM »

Quote
Hm....I'm torn. Should I buy a few more ounces of silver, or a few bitcoins?

Short answer:  Both
Longer answer:   It depends on what you have in mind for the money.

If you are trying to protect it from inflation and/or some kind of economic collapse... if you are trying to stash it away for some specific reason or for some unspecified emergency... then you are saving money and should put it into silver.

If you are wanting to take a risk with it in hopes of a return... if you are wanting to MAKE money as opposed to just protect what you have...  if you are trying to buy something now for the sole purpose of selling it later at a much higher price, then you are speculating, and should go bitcoin.

Saving and speculating are not the same.  There is nothing wrong with either, but doing one when you think you are doing the other is not a good financial move.    
« Last Edit: February 22, 2013, 07:37:33 PM by Disengage » Logged



David Giessel
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« Reply #13 on: February 24, 2013, 01:44:24 PM »

Just logged onto the forums to see if anyone was noticing that :-)

I need to get in on that. Was going to do it a few months ago but I've been swamped. Too busy making money to make any money...
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« Reply #14 on: February 27, 2013, 10:42:12 AM »

Just logged onto the forums to see if anyone was noticing that :-)

I need to get in on that. Was going to do it a few months ago but I've been swamped. Too busy making money to make any money...

What a terrible problem to have.  It's like you're having too much sex to get laid!
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