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Waiting for tokenadult to repost his Bitcoin comment: https://www.google.com/search?q=site%3Anews.ycombinator.com+%22greatest+contribution+the+Bitcoin+experimen

Waiting for tokenadult to repost his Bitcoin comment: https://www.google.com/search?q=site%3Anews.ycombinator.com+%22greatest+contribution+the+Bitcoin+experiment%22+%22points+by%22 https://www.google.com/search?q=site%3Anews.ycombinator.com+... In all seriousness though, there is one interesting thing that is different now from last time. Last time being the previous frenzied Bitcoin price hype bubble that peaked at 31$. No one fears that Bitcoin will crash to 0/pennies anymore once the price stops climbing, at least not due to standard market forces. It's pretty well established now that there is some baseline demand that will form a price bottom (assuming no large network attack occurs). What effect that will have on this bubble (if one forms) is hard to say but it should be interesting and not a repeat of last time.

loeg 14y ago
I sold at $17 and don't regret it (bought at $14-15 earlier that week). But my typical use is of bitcoin is a as barter currency (where the other party only cares about dollar value), I'm no speculator.
- uncoder0 14y ago
  Similar story here. Bought and mined about ~100BTC when it was around 5$/BTC and sold @ 10-15. I converted some to physical coins from https://www.casascius.com/ https://www.casascius.com/ and keep those on my desk. I guess I should put them somewhere less obvious. Haha
  - loeg 14y ago
    Oh, for me it was more like 2-3 BTC. So not a big risk to me either way ;-).
  - chii 14y ago
    wow thats a really neat gift/toy idea!
pygy_ 14y ago
When you look at it in log scale, you also realise that the current growth rate is pretty tame compared to what occurred in the spring of 2011. http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl
SlipperySlope 14y ago
Sure many say that now. But what if public greed takes over again and prices rapidly approach say $60, then the price rise would be hyperbolic and crash back to somewhere below here. ... just along for the ride with the bitcoins I mined and am hoarding.
- btbuildem 14y ago
  Well, you sell high, and buy back low, presumably.

loeg 14y ago

I sold at $17 and don't regret it (bought at $14-15 earlier that week). But my typical use is of bitcoin is a as barter currency (where the other party only cares about dollar value), I'm no speculator.

uncoder0 14y ago
Similar story here. Bought and mined about ~100BTC when it was around 5$/BTC and sold @ 10-15. I converted some to physical coins from https://www.casascius.com/ https://www.casascius.com/ and keep those on my desk. I guess I should put them somewhere less obvious. Haha
- loeg 14y ago
  Oh, for me it was more like 2-3 BTC. So not a big risk to me either way ;-).
- chii 14y ago
  wow thats a really neat gift/toy idea!

pygy_ 14y ago

When you look at it in log scale, you also realise that the current growth rate is pretty tame compared to what occurred in the spring of 2011. http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl

SlipperySlope 14y ago

Sure many say that now. But what if public greed takes over again and prices rapidly approach say $60, then the price rise would be hyperbolic and crash back to somewhere below here. ... just along for the ride with the bitcoins I mined and am hoarding.

btbuildem 14y ago
Well, you sell high, and buy back low, presumably.