Agentimmo Posted March 9, 2016 Share Posted March 9, 2016 Bitcoin just needs to continue as it is as a store of value, Forgive my ignorance, as I'm really not up to speed with Bitcoin. If I buy a Bitcoin at , say, $400 and it's price drops to $200, 6 months later, haven't I lost half my value/purchasing power ? Or does it work somewhat differently to what I imagine? Any decent links that can explain to a layman like myself appreciated. Merci. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted March 9, 2016 Share Posted March 9, 2016 Forgive my ignorance, as I'm really not up to speed with Bitcoin. If I buy a Bitcoin at , say, $400 and it's price drops to $200, 6 months later, haven't I lost half my value/purchasing power ? Or does it work somewhat differently to what I imagine? Any decent links that can explain to a layman like myself appreciated. Merci. It depends where you live. It would be much better to store your wealth in bitcoin if you're Venezuelan. You can get it out of the country more easily than gold and US$. Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted March 9, 2016 Share Posted March 9, 2016 That makes sense for a hyper-inflation scenario. But for day-to-day living in a deflation hit eurozone ? I'm not being obtuse, but if I want to buy $ and gold to hold here in France and the UK, it's straightforward. Where's the advantage of bitcoins? Or is it a hedge on the future that hyperinflation / confiscation of wealth is not too far away ? Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted March 9, 2016 Share Posted March 9, 2016 That makes sense for a hyper-inflation scenario. But for day-to-day living in a deflation hit eurozone ? I'm not being obtuse, but if I want to buy $ and gold to hold here in France and the UK, it's straightforward. Where's the advantage of bitcoins? Or is it a hedge on the future that hyperinflation / confiscation of wealth is not too far away ? For me it's a substitute for gold. But also I see it as an amazing technological achievement that has the potential to disrupt many industries (the financial industry being its main target - and one which I despise!). It therefore may appreciate in value many times, just like a very promising stock. Quote Link to comment Share on other sites More sharing options...
evetsm Posted March 9, 2016 Share Posted March 9, 2016 That makes sense for a hyper-inflation scenario. But for day-to-day living in a deflation hit eurozone ? I'm not being obtuse, but if I want to buy $ and gold to hold here in France and the UK, it's straightforward. Where's the advantage of bitcoins? Or is it a hedge on the future that hyperinflation / confiscation of wealth is not too far away ? the advantage of bitcoins is mainly: 1. you can spend it online 2. you can move across borders and your entire bitcoin wealth will be immediately available in any country in the world. Any amount, no questions asked. try both of those with gold or fiat money. Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted March 9, 2016 Share Posted March 9, 2016 I bought in quite early as I was curious about the technology. I'm holding now and regard it as a sort of gold equivalent (with the added risk that it could all go to zero). It's been a wild ride. I invested the cost of a tank of petrol, watched it soar to the value of a decent new car. And then half! Quote Link to comment Share on other sites More sharing options...
repetitive bleats Posted March 9, 2016 Share Posted March 9, 2016 Are you an early adopter, or do you buy bitcoin to replace that which you use? I wish. I'm possibly the bigger fool and bought in quite heavily at $700 mainly out of frustration with the banks and a wish to be part of their downfall. Now I just tend to use it when its more convenient / cost effective than using cards online. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted March 9, 2016 Share Posted March 9, 2016 Making banks redundant is a huge pull for me with bitcoin. Only takes a few nutters like me to hold which prevents bitcoin going to zero. time will do the rest. fiat has always drastically lost value over time, we are getting lots of deflation at the moment which is quite unusual. but deflation will be fought tooth and nail by the central bankers, and destitution of currency is fair game. Some even claim that gold has lost its traditional properties due to paper manipulation. It's no longer 'hard money' Bitcoin is very very hard money, very transparent. in the world of currency wars it's a nuclear warhead. long term it's s great bet. how long is 'long term?' Maybe 15-20 years. 2-3 business cycles and it will be clear it's gradually growing in value, and starting to climb a wall. Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted March 9, 2016 Share Posted March 9, 2016 Just catching up with messages at end of day. Many thanks for your replies to my earlier questions re. Bitcoin. Clarified a few points for me. Appreciate your thoughts. That's what I love about this site and its posters. ?? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted March 10, 2016 Share Posted March 10, 2016 snip Bitcoin is very very hard money, very transparent. in the world of currency wars it's a nuclear warhead. long term it's s great bet. how long is 'long term?' Maybe 15-20 years. 2-3 business cycles and it will be clear it's gradually growing in value, and starting to climb a wall. As long as we have Internet. Quote Link to comment Share on other sites More sharing options...
thewig Posted March 10, 2016 Share Posted March 10, 2016 Bitcoin breaking out the upside north Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted March 10, 2016 Share Posted March 10, 2016 Bitcoin breaking out the upside north ECB related? Quote Link to comment Share on other sites More sharing options...
thewig Posted March 10, 2016 Share Posted March 10, 2016 ECB related? no idea! I dont trade btc just been watching the charts to see what happened Quote Link to comment Share on other sites More sharing options...
adamLancs Posted March 10, 2016 Share Posted March 10, 2016 Just catching up with messages at end of day. Many thanks for your replies to my earlier questions re. Bitcoin. Clarified a few points for me. Appreciate your thoughts. That's what I love about this site and its posters. Bitcoin is like the middle of an onion. It grew from a small bulb and there are now lots of layers being built around it. It is infrastructure. If you see it as digital gold, you will never be able to understand the value. It will just be a tulip bubble. Watch out for the OpenBazaar marketplace in coming months. It is a game-changer. The penny will drop for many people. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 10, 2016 Share Posted March 10, 2016 The question is, why are people holding bitcoin? Current financial products (such as credit cards, debit cards, PayPal etc.) can achieve most of anyone's payment needs. EMs who don't have bank accounts Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 10, 2016 Share Posted March 10, 2016 Forgive my ignorance, as I'm really not up to speed with Bitcoin. If I buy a Bitcoin at , say, $400 and it's price drops to $200, 6 months later, haven't I lost half my value/purchasing power ? Yes. And if it's 800 you've doubled. BTC up 70% pa 4 years Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 10, 2016 Share Posted March 10, 2016 (edited) Bitcoin breaking out the upside north At important resistance now. If jumps and breaks back down expect sharp decline. if jumps and holds then rallying. Edited March 10, 2016 by Killer Bunny Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted March 10, 2016 Share Posted March 10, 2016 Bitcoin is like the middle of an onion. It grew from a small bulb and there are now lots of layers being built around it. It is infrastructure. If you see it as digital gold, you will never be able to understand the value. It will just be a tulip bubble. Watch out for the OpenBazaar marketplace in coming months. It is a game-changer. The penny will drop for many people. yeah, its a gamechanger alright: QUOTE: The buyer then sends the agreed upon amount to the multisig address. You get a notification saying the buyer has sent the funds, and you ship the laptop to them and mark that it has been shipped. The buyer receives it a few days later, and they mark it received, which releases the funds from multisig to you. You got your Bitcoin, the buyer got the laptop; no fees paid, no one stopped your trade, everyone’s happy. I see a flaw. Quote Link to comment Share on other sites More sharing options...
darkmarket Posted March 10, 2016 Share Posted March 10, 2016 "I see a flaw." The terms of escrow aren't predetermined - one of the monetisation models that interests the parent company OB1 is third-party trade services to deal with cases just like this. Escrow is commonly used on the world's biggest C2C, B2C and B2B platforms. Western platforms tend to place more burden on the seller, eastern platforms are more balanced. I wouldn't get excited that you've spotted a weakness the team there haven't thought of. More directly related, today's rises aren't ECB related, there's been a bearish interruption to an overall bull market due to differing views on scaling Bitcoin but that's now drawing to a close. Maybe. Quote Link to comment Share on other sites More sharing options...
adamLancs Posted March 10, 2016 Share Posted March 10, 2016 yeah, its a gamechanger alright: QUOTE: The buyer then sends the agreed upon amount to the multisig address. You get a notification saying the buyer has sent the funds, and you ship the laptop to them and mark that it has been shipped. The buyer receives it a few days later, and they mark it received, which releases the funds from multisig to you. You got your Bitcoin, the buyer got the laptop; no fees paid, no one stopped your trade, everyone’s happy. I see a flaw. And how many people got ripped off on ebay over the years? Whilst I'm sure there will be plenty of people who are happy to continue eating 10% fees, I don't think pointing out that a means of exchange is fallible is going to stop people using it. If you jump in and start buying laptops from the off, you're going to get burnt, just like you would buying from laptop_angel_x1x with 5 fleeting reviews on ebay. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted March 13, 2016 Share Posted March 13, 2016 Central banks beat Bitcoin at own game with rival supercurrency Quote Link to comment Share on other sites More sharing options...
giggler000 Posted March 13, 2016 Share Posted March 13, 2016 Central banks beat Bitcoin at own game with rival supercurrency ...central bank to keep a tight grip on the money supply and respond to crises. Sorry after nearly 8years of this c*** I am obviously the only one under the false impression they created this crisis. ...It would erode the exorbitant privilege of commercial banks of creating money out of thin air under a fractional reserve financial system. They gifted it to the commercials in the first place. It's so shocking to think that central planners think there is life for them after death. If you saved all your life in their fiat system only to watch it collapse - why the hell would you even touch a digital alternative offer by the same crets?? eh? BTC has a place and so does any currency they have no direct control of - change this and you've got a masked copy of your current fiat. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 31, 2016 Share Posted March 31, 2016 BTC price coiled like a spring. It's about to blow, any day now. Whichever direction it will be MAJOR! Likely up. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted March 31, 2016 Share Posted March 31, 2016 http://thehalvening.com/ i think the price is doing a slow climb waiting for the halvening (see link above) Bitcoin has been a fun ride still in its explosive growth stage, one day will level off. But it will be excellent after one or two more recessions, people will realise its not only a great store of value (compared to fiat) but it will grow for a few more years yet. its digital gold. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted April 1, 2016 Share Posted April 1, 2016 (edited) Anything which rises 70% pa seems a pretty good store of value to me... Edited April 1, 2016 by Killer Bunny Quote Link to comment Share on other sites More sharing options...
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