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..and this is probably going to look foolish when it goes to $1000 later this year. Your actions looks like someone trying to pat themselves on the back and rea
by wamatt 14y ago
..and this is probably going to look foolish when it goes to $1000 later this year. Your actions looks like someone trying to pat themselves on the back and reassure the "right decision".
I wish online P2P wagers were legal in the US :) I was watching everything during the "crash". It's already back up to 170 in a few hours. Previous crash took months to recover.
I've been around the block and the same tired and worn arguments were being used at $10 then $20 and $100.
- mkr-hn 14y agoYou sound like every person who believed in the non-bubbleness of every bubble. What justifies the price of Bitcoins? They have no real value before they're widely accepted, and that won't happen until the price is stable.
- cjg 14y ago"Widely accepted" isn't a binary value. As adoption increases bitcoins gain value. That's what justifies the price. The problem is deciding just how much adoption implies how much value.
- nikcub 14y ago> later this year I play a much shorter game than that. If it is justified, I will likely jump back in. This isn't the first time i've bought and then sold BitCoins. It has run out of new buyers to drive it to that level. The support from those who believe in the currency isn't worth more than $100 - much less than that. Everybody else is an amateur investor who read about BitCoin in USA Today and believes in it for the profit potential, not as a currency. These people scurried at the slightest smell of a price shock.