...
I don't know what to think about Bitcoin. Yes, it has made another nice move, it's around $740 now, up a nice meaty 14% or so in a week or so.
But, as the constant bickering of TPTB in Bitcoinistan continues to bother me (hard forks, etc.), well I don't know if I trust the system to remain intact. Granted, my use of BTC has been "dual-use" (spend some, throw some into cold storage -- insulates me a bit vs. the high premiums I have had to pay at BTC ATMs). Nonetheless, the risky-seeming & perhaps rickety BTC system gives me some willies...
Since I am not a programmer nor know much about Bitcoin's internal workings, perhaps my concerns are unwarranted.
I don't know what to think about Bitcoin. Yes, it has made another nice move, it's around $740 now, up a nice meaty 14% or so in a week or so.
But, as the constant bickering of TPTB in Bitcoinistan continues to bother me (hard forks, etc.), well I don't know if I trust the system to remain intact. Granted, my use of BTC has been "dual-use" (spend some, throw some into cold storage -- insulates me a bit vs. the high premiums I have had to pay at BTC ATMs). Nonetheless, the risky-seeming & perhaps rickety BTC system gives me some willies...
Since I am not a programmer nor know much about Bitcoin's internal workings, perhaps my concerns are unwarranted.
The technical issues in crypto-currency will get worked out over time. There will be numerous scares and potential roadblocks along the way. Bitcoin is the most likely contender for the crypto-currency that everyone uses and until and if that changes, then Bitcoin must be assumed to be the one which will model the price curves displayed in the following quote.
The main thing you need to know is don't sell BTC ever (unless you want to speculate). Hang on to it for spending as a currency at much higher prices than it is today as it becomes 100 - 1000 times more adopted than it is now:
I expected a correction because the price went too high too quickly. Most of the time when we see it spike high like that, it will come back a little.
They will play you as well, because you'll be the one who sells too early when the price rocket goes into a phase transition run to ATHs. They will eventually do that after they done shaking weak hands out. Your stance can be characterized as another form of weak hand because of selling too soon into a bull run.
The first bubble to $1200 in 2013 was the first hump of the typical new technology invesment. The second major hump is the big enchilada and you should never sell except possibly to trade to altcoins to increase your BTC, if you are so inclined and are astute at such speculation.
