Post
Topic
Board Economics
Re: I need bitcoin to be $690 to break even.....will I make it?
by
5000Bitcoins
on 02/03/2015, 09:45:08 UTC
Will I make it?

I, like many others in this thread believe it to start happening in 2016-2017.

I also took the risk and exchanged fiat to BTC starting early 2014 to September which, in total, were slashed with more than 60% on an average, I decided to cut more than half of my holdings as losses, and convert back to fiat and diversify more into a few selected safe stocks, and I am not currently buying any more BTC because I believe we might see it lower or not moving for some time, which is not necessarily a bad thing considering price stability is much needed, but I am taking some precautions this time regarding speculating. I also think a lot of projects got funded in BTC and converted it to fiat, and most of these projects have not yet returned that value back to BTC yet, because building things and getting a userbase take time.

If circumstances were to change I would be ready, but I think 2016 will be the year good APPs expand outside of crypto after having a development phase within, which will be good for the ecosystem, currently it is too difficult to use many of the perks BTC offers which hinders mass adoption, and also it is not as low fees as it could be since exchanges and other services have some fees, competition will drive these fees down. I am also excited over what Ethereum might bring to the table.

All in all if you want to be more sure about your investment, try becoming involved and making a difference for crypto so that we can approach mass adoption faster.