EXTRA EXTRA: We have done some tinkering and fixed the audio! Here is that better version for those who would like to enjoy this episode again with much better audio. Thanks for being patient…
Learn how to make money with bitcoin
All about bitcoin
EXTRA EXTRA: We have done some tinkering and fixed the audio! Here is that better version for those who would like to enjoy this episode again with much better audio. Thanks for being patient…
I just stumbled across this girl’s YouTube page last week. I like her a
lot!
Much better audio!
I don’t generally follow that julia person, too much attitude and not
enough useful info. She’s got a point here though. The bitcoin space has
become pretty commercialized, with a lot of centralized institutions which
is exactly what bitcoin is designed to avoid. Right now there seems to be
quite an exodus going on though. In the past small trades would make the
market trend upward, and it was only the bear whales who would slam the
market back down. Now though the mood seems to have changed. Small trades
started making the trend go down and one or more bear whales joined in.
That spells panic. Even I, a major bitcoin bull, for the first time in a
year my first paycheck of the month arrived and I didn’t buy any bitcoin.
So many of the new comers who don’t value the decentralized nature of
bitcoin may be leaving. I wonder if this will move the culture back in the
direction it started in?
But yeah, I’ve stopped buying bitcoins for my long term hold wallets. I’ve
been throwing good money after bad since 2013, fighting the down trend but
now I’ve got a nasty case of down trend fatigue. I don’t see anything that
will give the market a floor until the block award cuts in half in 2016.
With a feeling of total disgust, I filed all my encrypted paper wallets,
slammed the drawer and locked them in. I’m not a seller since generally the
moment I sell, the market turns around, but I’m no longer a buyer. From now
until I’m sure the down trend is over, I’ll just keep my cell phone wallet
topped up for tips and purchases but as far as buying more bitcoins to hold
long term, no, I’m done.
Still have tons of surplus income though so I think I’ll take a trip down
to the local coin shop and pickup some silver. I spent about 12 thousand
worth of silver back in 2012 (at 34 an ounce) as the down payment on my
house, so now that the prices are back down to pre 2008 levels I’ll start
replacing what i spent. I spent about 350 silver pieces as the 12 thousand
dollar down payment but it will only cost me about 6300 to replace them now
that the price is more reasonable. That effectively means that my 12
thousand dollar down payment only cost me 6300 (assuming I can replace the
whole 350 at 18 dollars an ounce (16 an ounce plus the markup the coin shop
has to charge to keep their lights on).
How are you holding up during this year long price crash?
+ChangeTip $1 dollar.