Quote from: Steve on April 11, 2013, 04:03:19 AM

Quote from: BTCisthefuture on April 11, 2013, 03:57:00 AM

Quote from: Steve on April 11, 2013, 03:42:29 AM

Quote from: esop on April 11, 2013, 03:33:16 AM

Never sell a bitcoin for USD!! SPEND IT on things or service or commodities.

+1000 I've never understood the logic in selling bitcoins.

The logic resides in the fact that fiat currency is still very stable for the most part. Bitcoin hasn't been over the years. When it comes to finances people want some stability. If they can make some money through a bitcoin investment or they can cashout to prevent losing their entire investment you will have a hard time convincing people not to.

That isn't logic, it's normalcy bias. Use bitcoins to buy things when you need to buy things, but for goodness sake don't trade it for an inferior form of money. I fear that too many people new to bitcoin don't understand this simple concept and they're selling bitcoin out of fear that it might trade lower...or they want to lock in some gains. Some people say that bitcoin can't go up in value forever...but in fact it can. In fact, it's designed to go up in value forever over any sufficiently long timeframe so long as it's the best form of money in existence (which it is and will likely forever be).

Can you please call my bank and convince them to let me pay off my mortgage in Bitcoins?
(I say that as a joke, but I just realized it's theoretically possible you could make that happen)

Sure BTC is great. But most of life revolves around fiat -- especially debts that were issued in fiat. And who the hell wants to take a debt out in BTC when it could go up 20x by next year and they'll be declaring bankruptcy? I believe there will be a point in time in which BTC stabilizes, and probably at a value much higher than it is now. But it's going to be turbulent, and probably a long time before BTC can truly act as a replacement for fiat. Until then, some of us would like to diversify -- BTC, USD, Gold, Real estate, etc. That requires cashing some out...