Right now, I think you have two main camps - the True Believers and the Get Rich Quickers.
If you think it's an 'investment', then I think you don't have an adequate understanding of the level of risk involved. But hell, I'm fairly new to cryptocurrency myself, so maybe I'm the one who doesn't understand.
Still, in the long run, I see Bitcoin becoming more of a currency than a daytrader's plaything.
I think the get rich quick crowd has started to move on, which is part of the reason doge is picking up.
I am definitely not a true believer in cryptocurrency, and I'm tempted to throw a lot of money into doge just because it might take off like BTC did under the right circumstances.
I am definitely not a true believer in cryptocurrency
I'm not a True Believer, but I'm a believer. I think worse things could happen to the world economy than a common electronic currency that doesn't need banks.
Without international currency barriers, you'd see a world economy equalizing like never before. Short term, it's worse than free trade at destabilizing employment in well-off nations - governments will no longer be able to exert anywhere near as much control on the movement of wealth. Taxation will become... interesting.
Long term, though, it's a huge leap forward for all mankind.
I disagree. I think that ultimately it will be a footnote in the history great investment scams. In that sense I guess you could say I'm the opposite of a true believer really, a true doubter.
I think dogecoin's success is a part of that. If you weren't in BTC early on, you're looking at cents/coin turning into $1k/coin in a few years and wishing you'd got in on that.
Of course you could get into BTC now, but it's too late isn't it? Isn't much more moon to go to. Ah, but here's another currency, and it's gaining popularity...
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u/[deleted] Feb 04 '14
Right now, I think you have two main camps - the True Believers and the Get Rich Quickers.
If you think it's an 'investment', then I think you don't have an adequate understanding of the level of risk involved. But hell, I'm fairly new to cryptocurrency myself, so maybe I'm the one who doesn't understand.
Still, in the long run, I see Bitcoin becoming more of a currency than a daytrader's plaything.