boumalo
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March 22, 2014, 10:10:31 PM

im supposed to not wire more fiat then i can lose but i might have to do it Cool
A monetary loss cannot be measured just in dollars, you must consider what it could mean to your life, now and in the future.  If you have a few million $, losing 100 k$ is only an inconvenience, and you will probably recover those 100 k$ in a matter of months .  If all you own is a house worth 200 k$, losing 100 k$ is a big trauma, may even cost your family and you may never recover those 100 k$.  

If it helps you decide, I am going to change my signature from "rather skeptic" to "very skeptic".  I now put the chances of Bitcoin (specifically, not some future crypto-coin) becoming a significant currency of e-commerce at about the same level of myself becoming Pope.  And it has nothing to do with price evolution or recent news.

So you are saying don't just measure dollars but relative dollar, you can still measure in dollars.

As for your opinion I'm curious, what do you define as e-commerce?

In December 2012 I had finished my thought experiment and Bitcoin education of 20 months. (My skepticism was based on the fact my investment had over a 300% return. I could see no way for it to succeeded as a currency other than in black markets where there were greater inefficiencies. My conclusion was the velocity of Bitcoin couldn't justify the price (silk road accounting for approximately 80% of Bitcoin commerce.)

So I sold all but the fiew coins I mined. Needless to say over the following 12 months Bitcoin went from $10 to $1,000.
The shock (lost opportunity) made me reconsider my assumptions.

I finally reconciled my understanding with the fact Bitcoin could be used as a currency for e-commerce, if it's price collapsed.
But it's killer app was store of value and vertual commodity.

Since then my trading style has reflected that understanding.

I would love to know what it is about Bitcoin that has entrenched you skepticism ?

I swapped him on to my ignore as it is the same story with new vocab. I don't even know why he posts here per say...but we all arrived here somehow.

I do come here to gain a better understanding of other peoples sentiment and outside opinions to help me develop my own conclusions. Jorge focuses too much of the human aspects; exchanges run by shady char, faked volume due to 0% fees, sleeping Chinese traders, sociopaths who would take your fiat or bitcoin all the same. I invested in bitcoin ultimately because it is a technological revolution of financial accountability at its core, the many aspects of bitcoin that then stem off of this are equally impressive and innovative in my opinion.

This post can be interesting bc you get to know how people feel and sometimes you learn a thing or 2

Sometimes it makes me think about some aspect of Bitcoin that I didn't think of but I come here mostly for entertainment as I am not even trading BTC; I buy it when I can; if the price is lower I can buy more so I am happy