What if you were to short just before we went from $440 to $500. You'd make a profit of -$580 on your 10 bitcoins, just within a snap of a finger. Even traders who have trained their guts, get the taste of losing to the market. Your 10% per month isn't sustainable. However if you're making any kind of profits with crypto, you're still doing better than the guys who got too greedy.
It is really about taking responsibility ... if I ever make a mistake ... or better said when I made mistakes if I saw someone going against the tide I just buyback in at a 0.1% - 0.5% loss! And I stay like 90% of the time in bitcoin and 10% of the time in fiat. And when I trade I stay like a leech chained to the computer! ... You can not leave your coins over night in fiat! Because there are somewhere around 150 - 200 trillions of fiat fake money in the world! ... And if in some day in the future all the governments of the world decided behind close doors that they need to have 50% bitcoin of their total liquidity! ... and I'm not saying 50% as in 100 trillion ... but even 21 trillions, that would make 1 million for each coin! Cause they will want in on this.... they can't tax us for using it! So they must get involved to created government services paid with bitcoins. And they will also want to control the price ... and as far as I'm concerned they will have meetings and set a price for bitcoin at a global scale! And basically they will say we need it to stay at 1.240.500 per coin with a 0.0001% spread! ... So basically we pay them for services like simple things in life... health care in their hospitals or the tax per property. And they will peg it to something else than $ , euro ... they will peg it to gold and silver! And that is something they can control in some way! ... So basically we need to create our own private education system and private schools. Keep the money inside the family! And not give the government majority holdings! ... But they will not do that 0.0001% spread thingy! They will make an illusion of choice! But their computers will know when to take action and make more profit than us if they control the systems in the exchange! ... The point I want to get is how do we value our coin on the black market without doing mass scale trading? Word from mouth to mouth and a common social awareness of all the prices of every commodity on the face of the planet?
It'll be hard to peg bitcoin to gold/silver just because of the fact that the exchanges are centralized weak points. Also Bitcoin offers a lot of utility at the moment, even more so than gold. Bitcoin only exists because of government Subsidies, that means we would need the government to exist for bitcoin to exist.
Why even bother with bitcoins, a resource based economy would be the greatest thing humanity has ever seen, but setting up such network isn't something that is done overnight, if ever. Until we have a resource based economy, I'll stick with my bitcoins.