Post
Topic
Board Bitcoin Discussion
Re: What Keeps You in BTC for the Long Haul?
by
Elwar
on 15/03/2013, 17:12:18 UTC
The Mark Zukerberg of today is on the forum right now figuring out the next big thing for Bitcoin. And s/he is probably living off of raman and bitcoin purchased pizza.

You're the romantic type, aren't you?

The only people who are living off Bitcoin purchased pizza are the early adopters who have already accrued BTC before it exploded.  Nobody else is living off BTC purchased pizza (if they are, it's because they exchanged USD for BTC, and then exchanged BTC back to USD in order to purchase pizza).  Nor is anybody trying to purchase an ASIC living off BTC purchased pizza.  And nobody who wants to get into mining now is living off BTC purchased pizza.  99% of people who are getting into BTC mining are currently doing so because it's a hobby, they're bad at math, they're very, very optimistic, or they want to contribute to something good in the world.

When ASICs come out, and they will at some point, building the blockchain and reaping the profit for having done so will be transferred almost entirely into the hands of the fiat rich.  Thus anyone who wants to use BTC will have to purchase it with fiat (or some other cryptocurrency).  I can't see how this looks good for BTC in the long run.


Sitting on the sidelines frowning about all of these rich people buying ASICs so that they could get more rich is talk of someone who will never be rich.

If you want some Bitcoin purchased pizza just go to http://pizzaforcoins.com/ If I were in the states I would only order through them when buying pizza.