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SkinnyPupp · 02-13-2014, 08:28 PM

I have said before that I am not a bitcoin trader, I am a believer in the system it introduces. I think ANY price is a good price to buy at, if it really ends up being everything it has the potential to be. And ANY price is a bad price to sell it at, if you believe in the system and aren't in it to make a quick buck. That's why I don't care what the charts say. It will either be "the next big thing" or it won't. When there is a drop in price, I post here because it presents a good opportunity for someone to "get in" when they feel they missed out on the opportunity before.

I would normally say that it would be foolish to buy anything with it, but to me that is different. For people to adopt it as a currency, it has to be shown that people are willing to buy things with it. Otherwise it's nothing more than what the traders think it is - a quick way to make money buying and selling and playing around with the market.

When companies like overstock say they made their first million in sales with bitcoin, or sites like porn.com say it makes up for 10% of their total sales, it is much more important to bitcoin itself as a success than China saying they don't support it (DUH) or some thieves stealing a bunch of it from a drug trading site. The former shows that it has potential as a true currency, the latter is just fodder for people to panic sell/panic buy/whatever.

So for bitcoin to work, there has to be a lot of people like me. People who don't give a shit what the price is at any given moment. Because they want it to settle down and eventually be a currency that we can use. If there are enough people like me, those charts are irrelevant. Because it won't matter if it hits $1000 for a day or $500 for a day or whatever. If bitcoin is nothing more than trade fodder like any other stock, then ulic is right; those charts probably have some meaning.

02-13-2014, 08:28 PM	#776
SkinnyPupp Hacked RS to become a mod Join Date: Feb 2002 Location: Sunny Hong Kong Posts: 55,105 Thanked 25,916 Times in 9,108 Posts Failed 1,574 Times in 720 Posts Member's Picture Albums	I have said before that I am not a bitcoin trader, I am a believer in the system it introduces. I think ANY price is a good price to buy at, if it really ends up being everything it has the potential to be. And ANY price is a bad price to sell it at, if you believe in the system and aren't in it to make a quick buck. That's why I don't care what the charts say. It will either be "the next big thing" or it won't. When there is a drop in price, I post here because it presents a good opportunity for someone to "get in" when they feel they missed out on the opportunity before. I would normally say that it would be foolish to buy anything with it, but to me that is different. For people to adopt it as a currency, it has to be shown that people are willing to buy things with it. Otherwise it's nothing more than what the traders think it is - a quick way to make money buying and selling and playing around with the market. When companies like overstock say they made their first million in sales with bitcoin, or sites like porn.com say it makes up for 10% of their total sales, it is much more important to bitcoin itself as a success than China saying they don't support it (DUH) or some thieves stealing a bunch of it from a drug trading site. The former shows that it has potential as a true currency, the latter is just fodder for people to panic sell/panic buy/whatever. So for bitcoin to work, there has to be a lot of people like me. People who don't give a shit what the price is at any given moment. Because they want it to settle down and eventually be a currency that we can use. If there are enough people like me, those charts are irrelevant. Because it won't matter if it hits $1000 for a day or $500 for a day or whatever. If bitcoin is nothing more than trade fodder like any other stock, then ulic is right; those charts probably have some meaning.