9/10 speculators in BTC buy into the "bubble after the bubble" mentality. They expect for BTC to drop in price, then to start a new bubble that will raise its price to record highs, then to pop again and repeat this process. This is not how bubbles work. Most people buy BTC in hope for a big return. When people stop participating in this pyramid scheme, BTC will crash. That is how all bubbles work, including this one.
I've heard about all of these people who made huge paper profits from their bitcoin investment but I've yet to hear of anyone actually cashing out....
I have a thread for you, Bitcoin stories. In the maintime (about the current drop to $102): "I looked to my right, where I have BTC-E on a monitor. I noticed a jump, but didn't quite know what was going on. A second later I realized that bitcoinwisdom had zoomed out to the max to show me the now free falling number rapidly approaching zero. I almost threw up. I was shocked." or this one: ". I opened a short on BTC-E which, I guess, I was unlucky enough to enter in at a price $120 less than I asked for (wanted like $560, got like $440). As you all saw, it crashed to like $100. What you aren't seeing is that MT4 is totally crashed. I can't exit my short. I can't do anything. All of us in freenode #btc-e are in the same boat. EDIT: finally let me closed it; a total of 45 minutes left short. 45 fucking minutes. I got hurt really fucking bad on that but I'll live. I'm really stunned."
Bitcoin has value as a currency. More and more places are accepting it. You can check out coinmap.org to see some of the places near you that currently accept it. Bitcoin is still in its infancy as a currency though and the price will keep going up as its adopted by more and more people. It will be interesting to come back to these threads years from now when the price is $100,000+
They can cash out in 1000 different ways. What are you talking about,"you are yet to hear"? Expecting somebody to call you and draw you a picture?
Hello STC, this is the bitcoin operator we have Elcubano cashing out some bitcoins just so you know..hahahah hahaha
Well...your prophecy came true this morning. It hit $100. Of course, I like to look at the bright side and say "WOW bitcoin is up 600% from this morning!!!!"
Why would anyone with millions of dollars in bitcoin cash out? It's not like they are going to get a better ROI somewhere else. Once its accepted everywhere, there will be no reason to cash out anyway. You'll just spend your bitcoins at different places. There will be no more cashing out. Thats why its such a great investment.