5 ms·
It makes perfect sense -- but only if you look at it objectively. The speculators will trade on the hourly waxing and waning exchange rates, but the savers will
by ihsw 13y ago
It makes perfect sense -- but only if you look at it objectively. The speculators will trade on the hourly waxing and waning exchange rates, but the savers will look at 52-week moving averages.
If you judge BTC simply by the latter, and have the patience for re-evaluating your BTC finances annually or bi-annually, then you'd be in a pretty good spot.
Sure it fluctuates an uncomfortable amount on a regular basis, but it's a fairly consistent trend otherwise.
- novalis78 13y agoI agree. I found myself going through different stages of thinking about bitcoin. I mined early in 2011 and almost sold all of my bitcoin thinking that it would crash any day. Having witnessed three supernova price movements and bitcoin coming quickly back each time settling on a higher value, it does not look like a "penny stock" anymore that would be dead after just one such run. It might be the single simple fact that BTC generation is predictable that creates a pull for people who are willing to bet part of their savings on it. If enough do that, bitcoin becomes a value storage system - self fulfilling prophecy. If that's the case we are just at the beginning.
- UweSchmidt 13y agoNot at all, if "...or it will fail and it will be worth nothing" is a possible scenario. If you buy every week, any catastrophic event that makes bitcoin worthless would still wipe out your retirement savings before your bi-annual reevaluation is due.
- deleted 13y ago[deleted]