Post
Topic
Board Mining
Re: Small time miners - What do you do when ASICs hit and you don't upgrade?
by
Jack1Rip1BurnIt
on 04/11/2012, 06:09:04 UTC

Hm. That is great and all until someone actually wants to use the play money for something real.. Like buying property, durable goods, etc.. Then you are right back in the problem world of somehow converting to fiat. Good fucking luck when you find out a 100,000 btc sale just crashed the markets and you get much less in fiat then you thought you would....

Look, you've got to understand that right now we are in the early "early adopter" stage. I do not disagree with you one bit that the market would make a huge swing off of just one large sale that you spoke of...at least for the time being. Let some years pass by (4, 5, maybe as much as 10) and you will find that moving large sums of money is happening quite often with little effect overall on the price. Right now you have the chance to capitalize on these huge swings. Just imagine that the regular price of a bitcoin is worth $340 American dollars. Huge sales cause the price to plummet to $310 and people get excited and begin to jump on that potential to make about 10% when the price levels off in a few days. These same people would suck yo *&$# if you let them buy some BTC at $9 and some change. Just sayin'