Quote from: billyjoeallen on February 17, 2015, 09:27:22 PM

Quote from: Fatman3001 on February 17, 2015, 09:06:44 PM

Quote from: billyjoeallen on February 17, 2015, 08:49:28 PM

Quote from: Fatman3001 on February 17, 2015, 08:18:20 PM

Quote from: billyjoeallen on February 17, 2015, 07:52:55 PM

Quote from: Fatman3001 on February 17, 2015, 07:43:52 PM

Quote from: billyjoeallen on February 17, 2015, 07:37:05 PM

Quote from: Fatman3001 on February 17, 2015, 07:33:42 PM

Quote from: billyjoeallen on February 17, 2015, 07:27:19 PM

So I have this small pile of cash and I'm afraid I may be a fiat bag holder. If you understand that every USD debt is effectively a short on the dollar, the market is saying that dollars are a shitty investment.

Ask me what I thought was a shitty investment on January 14,2015.

You sister's Certificate of Virginity?

How did you know? Have you....?

The base for the 2013 bubble was ~$100. It's looking more and more like the base for the great 2015 bubble will be ~$220 meaning the top will come in around $2,500-$4,000. There's almost countless factors involved, so this is a very rough estimate, but waiting for a discount of more than 10% from here may well be futile.

I would certainly agree that a fairly solid bottom is forming at $220, but it tends to look a lot more wobbly when you're about to risk your own money. I'm not sure if that part about the bubble is accurate. To get that kind of money into Bitcoin we'll need some serious adoption by users as well, not just traders. And if that landslide is triggered who knows where we will end up. But I don't see much sign of that kind of adoption yet.

Fiat is not your money. You may have worked for it, but it was ultimately created out of thin air and it is only used because of legal tender laws meaning it's only used because we have guns in our faces. Well two can play at this game. I can just take out a bunch of perfectly legal loans using their artificially low interest rates and pay only the interest. That's easy to do just on the profits and if someday I run out of profits I'll just default. Only I doubt that'll happen because my debt to income ratio is still orders of magnitude better than the US Government's. A deflationary depression will mean that they'll have a lot more and bigger deadbeats than me to pursue and a hyperinflationary collapse will play right into my hands.

Then why are you a fiat bag holder?

I try to get rid of my fiat, but then somebody sends me another zero interest credit card in the mail and I find I don't need to spend it. Meanwhile the paychecks keep rolling in. It's a constant struggle.

Yeah, life's tough