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Comment · Wed, November 20, 2013

This is how everyone new to bitcoin feels right now.

What they were answering

qrios · 1 points

Most of the people selling around here don't go > 5% market . . .

But in any case, it's a simple cost benefit analysis. Is the added price worth the decrease in security risk and approval wait time? I should think so. Yeah, you're paying more, but it's for a better service.

u/MisterYouAreSoDumb

Good luck finding someone in Phoenix that will do 5% over market. It's hard enough even finding someone that will sell to you at all. By the time they meet up with you, the market has fluctuated, and you are still paying 15-20% over the corrected price. And some of them use Gox as the market price, so it's inflated already as it is.

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Related in the archive

Commentr/BitcoinNov 22, 2013

@SUBWAY just retweeted me to their 1.6 million followers mentioning /u/techguy90's Bitcoin purchase in one of their stores, linking to his article.

Replying to BenSBernanke · Assuming this was tonight, it would have amounted to 0.023 BTC... I'll speculate this $18 Subway meal will become **The Million Dollar Sub**. Much like the infamous Million Dollar …

That would be a market capitalization of $924 trillion once we reach 21 million bitcoins. The current total capitalization of the entire planet is only $71 trillion. Seems plausible.

8
Commentr/BitcoinNov 21, 2013

CNBC graphic on Bitcoin Performance (11/20 Fast Money)

Replying to OutaPlace · I really feel the same way. Unless you got on at the lowest point, its really expensive to get into. On top of that, I hear a lot of "get your friends into it" or "help spread the …

As the market expands, the same amount of bitcoin will be in the hands of many more people. If the market capitalization reaches high enough, most people will not be trading even close to a whole coin. Then volatility wi

4
Commentr/BitcoinNov 20, 2013

What most investors don't get about Bitcoin as a currency

Replying to ferretinjapan · Bitcoin is not a company, it is infrastructure. It is the equivalent of the internet's ipv4.

No, it's ARPANET. There's going to be a lot of CSNETs and NSFNETs before we see the internet. Bitcoin is merely the first cryptographic currency to gain acceptance. We can use analogies all day long. My point is that th

3
Commentr/BitcoinNov 20, 2013

How To for crash selling

Replying to pyalot · Worked so far... of course eventually the 300 spartans all died, so maybe that's a bad analogy mkay?

I believe that is what he was insinuating. That Bitcoin is going to put up a good fight, but will eventually be overtaken. The, "hold no matter what" mindset is the same mindset the Spartans had when facing the Persians.

3
Commentr/BitcoinNov 20, 2013

If you've been waiting to buy at low prices and now decide that "meh, bitcoin's not that great" don't come back here in 6 months when we are over $1000 and lament over "how you nearly bought some in November"

Replying to [deleted] · More chances for us to buy some on the cheap. Trends show that Bitcoin always springs back up to new heights. I don't see why that would change now that China is in the game and th…

As the market expands, previous trends become less and less accurate. Be careful basing decisions off past tendencies, as the market demand and price drastically alter the way the market reacts to situations.

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