Here is why owning some Bitcoin now makes sense

vanzandt said:
Well... you still get your anonymity and a currency without borders.... but it makes it less volatile... which is what you need at this point to garner a broader acceptance.

That being said... in this particular area... I'm not afraid to admit I know nothing.
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Sorry, didn't mean to assume everyone knew the primary reasoning behind bitcoin. Satoshi was disgusted with the financial collapse brought about by bankers/wall street which needed a bailout at the expense of everyone (worldwide) through the printing of trillions upon trillions of fiat currencies. The genesis block contains the headline "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks[" for all eternity or until the bitcoin network ceases to exist.

Hence, the bitcoin's decentralized (cannot be controlled by a single entity) design.

Update: When Satoshi started bitcoin, very few was interested, hence the value was less than a penny. Satoshi was not doing it to get rich quick, but for ideological reasons. If the over 1 million bitcoins that he mined in the beginning were to start moving, bitcoin's value would crash to less than $1000 each, because many (including me) believe he destroyed the private keys to those addresses.
 
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MattZ said:
In terms of price correction, we are not seeing something we have not seen before.
But, we are seeing more regulations in space, and that could potentially bring stability without the astronomical cycles.
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Nice thought, but I dont think we saw 800,000,000.00 market cap go to 250,000,000.00 before.

Better you than me . Much bagholdery.
 
vanzandt said:
Why don't they just make a cryptocurrency tethered to the U.S. Dollar or the Euro? Seems to me that would be the best of all worlds. Albeit the get rich quick overnight hodl'rs would not approve.
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That is actually not a bad idea, although it kills the "get rich quick" aspect of issuing a new crypto.

I am actually debating if it is possible to do it? After all the market decides what the current value is, and even tether is fluctuating a bit. So it could happen that the issuer ties it to the dollar, but the market likes it so much that its value goes up higher, let's say 1.3 dollar. Or even higher, but the tie in would give it a minimum value at least.
 
johnarb said:
That would not be best of anything. That would be just another form of fiat currency.
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That is bullshit. Every other characteristic of the cryptos would apply, except the wild fluctuation. Thinking about it more, we could make it inflation adjusted, so on average it would grow (change its tie to the dollar) by 3% annually.
 
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