BITCOIN as an alternative to regular currency

[ForFolksSake]

Bit coin Selloff Deepens, falling to Seven Month Low ... not good for Farage

[Sonny]

Bit coin break $1000 bubble bubble bubble

http://www.bbc.co.uk/news/technology-25120731

<shrug>

[ForFolksSake]

Bit coin break $1000 bubble bubble bubble

http://www.bbc.co.uk/news/technology-25120731

<shrug>

... and you still can't use it on BF

[Naffman]

At what price would a skeptic here buy it? I think if it were to go down to 20-25k then I would, even though I don't know anyone who uses BTC, it feels too big now with many big institutions buying it.

[ruthlessimon]

I think if it were to go down to 20-25k then I would

What matters is context: if BTC is down 80% while the s&p 500 is flat or up, that’s a structural failure, not a buying opportunity. (i.e. MSTR failure, Tether failure, quantum attack). Huge risk of BTC never recovering.

But if BTC is down 80% because the entire market is blowing up - i.e s&p 500 -50%, credit freezing, mainstream bank failures - that’s a potential buy - because it could rebound hard when the money printer starts.

[ruthlessimon]

Bit coin break $1000 bubble bubble bubble

http://www.bbc.co.uk/news/technology-25120731

<shrug>

Depending on the time horizon, it technically wasn’t the wrong call.

[Naffman]

Absolutely mental that if you bought 2 years ago today you're still well over 100% up despite the 30% drop.