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That's fair but I highly doubt it will drop that low. I really, really hope it does though, wouldn't mind popping a few grand into it.
by rfnslyr 13y ago
That's fair but I highly doubt it will drop that low. I really, really hope it does though, wouldn't mind popping a few grand into it.
- a3voices 13y agoBy not buying, you're betting that the price won't go up. Good luck with your strategy of not investing in exponentially growing, disruptive technologies.
- rfnslyr 13y agoThat's the whole problem though. It's going up, but who's to say it won't crash?
- fleitz 13y agoWant to buy my webvan stock? They're disrupting safeway! Exactly what is bitcoin disrupting? Those who want to take 10 minutes to buy a cup of coffee? Africa's stranglehold on unstable currencies? Thieves being able to steal your electronics and money all at once?
- a3voices 13y agoIt's disrupting gold, money transfers, credit card fees, foreign exchange, and online gambling at the same time.
- lectrick 13y agohttps://news.ycombinator.com/item?id=6728463 https://news.ycombinator.com/item?id=6728463 Regarding the 10 minute coffee... You can leave as soon as you pay, at some small risk (which could easily be absorbed by the payment provider), you don't necessarily have to wait for the 10 minute confirmation. > Africa's stranglehold on unstable currencies? You misspelled "insanely inflating". At least BTC is deflationary, albeit unstably. > Thieves being able to steal your electronics and your money all at once? If you're irresponsible (weak passwords, no backups, leaving things decrypted, using Windows... hehe), sure. If you keep your money at somewhere like Coinbase (where they keep 90% of their funds offline in cold storage) and use 2 factor authentication, very unlikely.
- fleitz 13y agoFunds in BTC can't be kept 'offline', if you know the private key you can spend the coins.
- lectrick 13y agoSo the key is never to keep the private key decrypted, anywhere. And to make it extremely hard to brute-force. https://en.bitcoin.it/wiki/BIP_0038 https://en.bitcoin.it/wiki/BIP_0038 You could also split/shard it into pieces where M of N pieces are required to reconstitute the original key. http://point-at-infinity.org/ssss/ http://point-at-infinity.org/ssss/
- dennisgorelik 13y agoIt will drop, but you would not have guts to buy it at $50, because you would be scared of the downtrend. My recommendation for you is to stay away from trading (whether bitcoin, stocks, FX or anything else).