Silk Road forums
Discussion => Newbie discussion => Topic started by: halleo on February 10, 2013, 06:59 pm
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I have only owned bitcoins since mid-January and have seen the value of my leftover bitcoins jump from $18 to $24 per ea. That's 33% increase in just a couple weeks. I'm really wishing I had invested more. BUT... looking through some historical charts of bitcoin value I see that this is really unprecedented and may be a sign of a failure of the currency, IMO. I am not an economist and am interested in the opinions of others. This seems like the time to trade all my coins away and definitely not buy coins. I mean, it has to crash right? What do you think???
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I'm curious why btc doesn't inflate the coins by sending out the active accounts with BTC in them say 30% increase to stock. That would then also drop the prices back down to around $20 while not screwing with peoples invested money. Inflation is good economic policy, I know it's what kept me away from SR for a couple of years, and I've been kicking myself for years for not grabbing btc when they were around $1/per (man I'd be much richer now, but that was also when they were holding steady between .8 and 1.2 per coin and everyone thought it would fail). That is why I'm glad SR added static pricing in USD so no matter the fluctuation in btc I am still paying a reasonable price per item.
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Mr. High
Ok, that helps. I was looking only at the last year, but extending it back shows the big jump to and fall from 30 around June '11. Fell all the way down to ~$2.5 per ea by Nov. 11. I sure would have hated to be the guy who bought in at 30 and didn't sell it all immediately. This seems to be a very volatile currency.
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I too have thought of investing in BTC in the past, but I've always been scared that this whole thing might collapse. I think governments are going to "nip" this decentralized currency in the bud. It is way too un-controllable for a governments liking I would believe.