lol yeah pretty much, like buying virtual goods in those mmorpg(online games). That was a very old quote right around the time mtgox got going, it's the reason i built my own hardware to mine instead of buying from the market- because there was no place to transact and i wanted to own some btc. -------------- fyi btc had a smaller bubble 1 year(?) ago i remember, i think price managed to hit ~$30 before crashing to ~$1-3 due a host of reasons, mainly lack of a stable exchange. But no way did it had the kind of media exposure like we have now from cnbc etc.. I will continue to keep my last chunk of coins long term and the miner is still running fine, but to buy by paying anything more than $15 for a coin to me is too risky.
On twitter I always see Max Keiser Pumping bitcoins like there is no tomorrow. Scary to think of how many bag holders there are due to that guy. he actually has bitcoin labeled as a "safehaven" ":I think the coming US bond collapse and volatility will make the current BTC volatility look small time by comparison. #BTCSafeHaven" Fun to throw a few $ at for a lotto ticket , sure. A safehaven though, really Max? Even after today lol Class 5 rock and toilet paper is a better safehaven than bitcoin lol
I CONFESS !!!!!!!!!!!!!!!!!!!!!!!!!!! I bought 300k of bitcoin at $230 each, and just sold them at 72. Oh, wait, that was you.
Really? Don't you realize that paper money, fiat, is worthless. I will hold at least 50 % on my net worth in Bitcoins. At all times.
That is called opportunity, you man of little faith! Back at 95+, I am at breakeven.... http://bitcoincharts.com/markets/currency/USD.html
Why would you not use a proven store of wealth like gold, investment grade diamonds or real estate if you're worried about a currency devaluation?
I'm curious as to how money think Stock777 has it right regarding bitcoin as a long term store of value. I don't mean you would hold 50% of your net worth there but that you would take a significant portion of you net worth (15% or more) and make it a core holding. For the record I have never owned any and am unlikely to but as a spectator sport I find the entire damn concept fascinating! If anyone has an idea on how to approach this as a business (not as an investor or trader) and the capital needs are 100K or less I would be happy to talk by PM, email or Skype as long as you would put some skin ($20,000?) in the game as well.