Quote:
Originally Posted by BlackCrayon
the main people who sing bitcoins praises are those who got in real early, like yourself and already made a bunch of money off it.
people who got it late last year are eating it and these people were told by people like yourself that it can only go up will be worth 100k, etc,etc.
in another post you mention you can spend bitcoin daily...but im sure you don't! who would? no on wants to spend bitcoin. They just want to make money off it.
investing in bitcoin is like investing in an idea. digital currency. bitcoin doesn't do the job very well with transaction fees, long wait times and instability but i do like the idea of digital currency. if only there was one that was stable, fast, low to no fees and not treated like an investment..
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Two things:
1. The people who got in a few months ago and got "burned" are only in a bad way if they sell. If they hold it will go up. The ones bitching are the ones who thought they would sink in 20k and turn it into 50k overnight. Boo Hoo for the get rich quick asshats. Investment - ANY investment - is about long term gains. Unless you want to gamble with day trading, etc. So Bitcoin is no different than a stock that will recover over time. At one point GM was down to $2.00 a share in 2008. What is it now?*
2. You will get your wish for a stable digital currency when the US introduces one some day (soon).
*$37.65 as of this writing.