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Tldr: bought bitcoin in 2010 and got lucky sitting on it I find these story of stories silly but also indicative of the market. We are in a crytpocurrency mani

Tldr: bought bitcoin in 2010 and got lucky sitting on it I find these story of stories silly but also indicative of the market. We are in a crytpocurrency mania and these read like the "Meet the 25 year old dot com millionaire who bought stock in valinux/webvan/pets.com/etc!" from 1998 that dragged even more nontechnical people into the manic runup then. All I know is people that I'd never expect to know what bitcoin is are suddenly talking about it. What's that tell you?

pmorici 9y ago
"What's that tell you?" It's about to go mainstream.
- fapjacks 9y ago
  It "already" went mainstream in 2012-2013. This is a second speculation bubble. It tells you to get out before it comes crashing down, because it will.
  - 9to5isdead 9y ago
    Or to get ready to buy when it does. :)
    - fapjacks 9y ago
      Yes, this reflects my position: I'm out of all cryptocurrencies except for a small bit to fuel a couple side projects. I'm waiting for the coming crash so I can buy.
      - pmorici 9y ago
        Everyone says that but when the crash actually happens they always get cold feet because the prevailing view is that Bitcoin is dead and done and never going to recover so they lose their nerve and don't follow through. But best of luck.
        deleted 9y ago
        [deleted]
  - pmorici 9y ago
    No, I don't think you understand the scale we are talking about here if this becomes a world wide common digital currency. Your political dogma is getting in the way of you understanding what Bitcoin's real potential is.
    - danmaz74 9y ago
      Bitcoin will never become the "world wide common digital currency": it's deflationary in the long term, very volatile int he short term, and transactions are expensive and slow. Maybe some other cryptocurrency could, but not bitcoin. It could stay as a store of value though, like gold.
      - pmorici 9y ago
        "it's deflationary in the long term" Whether or not you think that matters is political dogma. "very volatile int he short term" Looking at the one year time scale BTC/USD is only about 2-3x as volatile as USD/EUR. Bitcoin volatility in general has been trending DOWN since it's inception as you would expect something to become more stable as the market matures and more people adopt it. https://www.investing.com/tools/forex-volatility-calculator https://www.investing.com/tools/forex-volatility-calculator https://www.buybitcoinworldwide.com/volatility-index/ https://www.buybitcoinworldwide.com/volatility-index/ "transactions are expensive and slow" By what standard? A typical transaction costs less than a dollar and takes about 10 minutes. Once the people holding the block size hostage are out of the way you can expect the cost to return to cents and the speed to be more reliable at 10 minutes or less. Anyone who thinks Bitcoin can be a store of value like Gold w/o having utility as money is fooling themselves. You need to both.
        danmaz74 9y ago
        > Looking at the one year time scale BTC/USD is only about 2-3x as volatile as USD/EUR Are you kidding? BTC/USD easily has 10%+ swings in a day, and 300% in a year.
      - vertex-four 9y ago

pmorici 9y ago

"What's that tell you?" It's about to go mainstream.

fapjacks 9y ago
It "already" went mainstream in 2012-2013. This is a second speculation bubble. It tells you to get out before it comes crashing down, because it will.
- 9to5isdead 9y ago
  Or to get ready to buy when it does. :)
  - fapjacks 9y ago
    Yes, this reflects my position: I'm out of all cryptocurrencies except for a small bit to fuel a couple side projects. I'm waiting for the coming crash so I can buy.
    - pmorici 9y ago
      Everyone says that but when the crash actually happens they always get cold feet because the prevailing view is that Bitcoin is dead and done and never going to recover so they lose their nerve and don't follow through. But best of luck.
      - deleted 9y ago
        [deleted]
- pmorici 9y ago
  No, I don't think you understand the scale we are talking about here if this becomes a world wide common digital currency. Your political dogma is getting in the way of you understanding what Bitcoin's real potential is.
  - danmaz74 9y ago
    Bitcoin will never become the "world wide common digital currency": it's deflationary in the long term, very volatile int he short term, and transactions are expensive and slow. Maybe some other cryptocurrency could, but not bitcoin. It could stay as a store of value though, like gold.
    - pmorici 9y ago
      "it's deflationary in the long term" Whether or not you think that matters is political dogma. "very volatile int he short term" Looking at the one year time scale BTC/USD is only about 2-3x as volatile as USD/EUR. Bitcoin volatility in general has been trending DOWN since it's inception as you would expect something to become more stable as the market matures and more people adopt it. https://www.investing.com/tools/forex-volatility-calculator https://www.investing.com/tools/forex-volatility-calculator https://www.buybitcoinworldwide.com/volatility-index/ https://www.buybitcoinworldwide.com/volatility-index/ "transactions are expensive and slow" By what standard? A typical transaction costs less than a dollar and takes about 10 minutes. Once the people holding the block size hostage are out of the way you can expect the cost to return to cents and the speed to be more reliable at 10 minutes or less. Anyone who thinks Bitcoin can be a store of value like Gold w/o having utility as money is fooling themselves. You need to both.
      - danmaz74 9y ago
        > Looking at the one year time scale BTC/USD is only about 2-3x as volatile as USD/EUR Are you kidding? BTC/USD easily has 10%+ swings in a day, and 300% in a year.
    - vertex-four 9y ago