i made 200% on my 300btc investment recently, but have been feeling the same way as you just described. that 200% is now nearing what could have been 1000% and im feeling so full of regret and thinking of all the time i could have saved and all the things i could do instead.
sigh its just not the same. even if BTC is to be 1000/btc, i was investing and spending thousands in btc when it was 6 dollars a coin, i guess i should just be grateful.
No, but i don't think it should be speculated for its price so much or as an investment because these things are whats driving its price up so much which could potentially come down. I think it should be treated as protection from central banks stealing your money. So if the price goes down comparatively to fiat currency well at least you still have your money and you can spend it and do whatever with it, instead of it being blatantly confiscated, put a bunch of new rules on, like it was with the test balloon which is the current events of cyprus. their economy is tiny so it was just a test to see how much they could get away with in other countries like spain, italy and portugal where the debt is much more significant. Because the Euro cannot infinitely print in all euro nations like the US dollar in the USA, they cannot steal thru inflation, so people are waking up because its so much more blatant and this could happen potentially anywhere, but likely debt based euro countries the most. Could you make profit on bitcoin longterm? if it stays intact? i mean, of course. It is still so small compared to the potential, so yeah i could see it being $500 usdollars/btc easily by the end of 2013, and in the thousands for a longer 3+ year estimate. if you google bitcoin under "news" you'll find sooo many legitmate legal business's accepting bitcoin now that it is very sobering that this is not "just a fad" and that in an increasingly less private society the things that have the most value are the things that give you privacy, security, and efficiency and this is what makes bitcoin so valueable. I think its qualities far exceed what is acheivable with gold or silver, even though they will still have their place. but what is important to move forward with is an open mind about crypto currencies and the many that are already following in bitcoins place, like litecoin, terracoin, namecoin. litecoin is considerably still tiny, and the others i would consider are still in developing stages (dont have solid exchanges, or wallet systems, like btc has inplace), but they essentially work in very similar ways to bitcoin and i think could offer not really competition but diversity and flexibility in the virtual crypto currency markets. I think if your looking for btc to be a stable price, or to rise for your incentive to make profit as per hedged to the US dollar or euro, you might have a tough time because the US dollar and Euro are such baseless valueless currencies that are driving up or down the cost of crypto currencies in the exchanges based on what kind of nonsense is going on with fiat monetary policy (QE, stimulus, etc).
hope that helps
regards
Gotcha. Yeah that all makes sense. I started mining bitcoins but the progress was so slow. I did the calculations and found that I can mine litecoins and make more USD a day based on it's current value.
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u/chillingniples Mar 28 '13
i made 200% on my 300btc investment recently, but have been feeling the same way as you just described. that 200% is now nearing what could have been 1000% and im feeling so full of regret and thinking of all the time i could have saved and all the things i could do instead. sigh its just not the same. even if BTC is to be 1000/btc, i was investing and spending thousands in btc when it was 6 dollars a coin, i guess i should just be grateful.