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Thread: Bitcoin Cracks $5000

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  4. #3

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    IMO Bitcoin can't be a real currency until its consistently depreciating in value like a real currency
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
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  5. #4

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    Quote Originally Posted by TheTexan View Post
    IMO Bitcoin can't be a real currency until its consistently depreciating in value like a real currency
    Certainly dollar inflation will put upward pressure on BTC's dollar price. But we don't see other baskets of goods inflating at the same rate as BTC. So there's much else going on.
    Last edited by anaconda; 09-03-2017 at 11:15 AM.

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    Stuck in the $4600's since hitting $5K.

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    $4511

    So much for hitting $5000

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    4407

    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Rand Paul (Vice Pres) 2016!!!!

  9. #8

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    Why does everyone seem to think that a currency has to be constantly depreciating to be used as a currency?

    1. Hold on to only as much Fiat as you need to in order to satisfy your needs for emergency funds or planned long term diversification strategy. This can be literally anywhere from 0% to 100% of your networth depending on your plan.
    2. Anything that does not fall under #1 or other diversified investments, buy cryptocurrencies (convert at the time when you are paid in dollars, or just get paid in crypto). It is in your best interest to do this conversion immediately upon receipt of extra dollars (not in #1), because by the time you wish to spend on something, your crypto is more likely to have gone up in purchasing power, and your dollars are more likely to have gone down in purchasing power.
    3. When you wish to spend on something, you will not spend dollars because all of your dollars are allocated towards purpose of #1 which you have already set aside. Therefore you will spend your crypto. On top of that, if the value of the crypto went way up then spending it on goods and services helps to rebalance your asset allocation. On the flip side, spend dollars if the crypto value has gone down until you are rebalanced.
    Last edited by Crashland; 09-05-2017 at 12:16 PM.

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    i just discovered this forum.. gosh didn't know there was one..

    good!

    5 of my friends bought Bitcoin recently for the first time. And Monero because I advised them to buy some too since it has interesting cryptographic properties.

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  12. #11

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    Quote Originally Posted by Crashland View Post
    Why does everyone seem to think that a currency has to be constantly depreciating to be used as a currency?

    1. Hold on to only as much Fiat as you need to in order to satisfy your needs for emergency funds or planned long term diversification strategy. This can be literally anywhere from 0% to 100% of your networth depending on your plan.
    2. Anything that does not fall under #1 or other diversified investments, buy cryptocurrencies (convert at the time when you are paid in dollars, or just get paid in crypto). It is in your best interest to do this conversion immediately upon receipt of extra dollars (not in #1), because by the time you wish to spend on something, your crypto is more likely to have gone up in purchasing power, and your dollars are more likely to have gone down in purchasing power.
    3. When you wish to spend on something, you will not spend dollars because all of your dollars are allocated towards purpose of #1 which you have already set aside. Therefore you will spend your crypto. On top of that, if the value of the crypto went way up then spending it on goods and services helps to rebalance your asset allocation. On the flip side, spend dollars if the crypto value has gone down until you are rebalanced.
    Why are you advocating for buying cryptos rather than, say, real estate?

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    $3321 now.

    $2900 anyone?

    $1900?

    Where's the trough?
    Last edited by anaconda; 09-14-2017 at 05:33 PM.

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    $3321

    Skyrocketing upward!
    Last edited by anaconda; 09-14-2017 at 06:52 PM.

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    $3400

    The sky's the limit!

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    Some news speculates that some chinese exchanges may open back up at the end of the year. Wonder if that put a stop to the downward trend?
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  23. #22

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    $3746

    #bouncing back

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    Nom, Nom, Nom..... cheap coins....

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    Quote Originally Posted by RonPaulIsGreat View Post
    Nom, Nom, Nom..... cheap coins....
    LOL , not really sure I would call that cheap .

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    BTC is climbing faster than a Joe Scarborough hit single.

    Last edited by anaconda; 09-15-2017 at 11:57 PM.

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    if i put my life savings into bit coin i'd be able to retire at 40
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