Quote from: BitcoinAshley on April 12, 2013, 12:31:11 AM

Quote from: revans on April 12, 2013, 12:20:53 AM

Won't be buying any above $1

I actually want to use bitcoin as a currency, not a get rich quick scheme.

So basically, you don't understand economics/exchange rates/currency value at all?
1 bitcoin being equal to $1 has absolutely no bearing on its use as a currency. 1 USD is an arbitrary value. In 1900 one US dollar was worth many times what it is today. Why shouldn't a bitcoin be worth $10 or $45 $100, i.e. what a dollar may have been worth (adjusted for REAL INFLATION) in, say, 1850? Or why not $10,000? The idea of "one whole bitcoin" being equal to an arbitrary USD amount that "revans" is comfortable with is simply a psychological limit and has absolutely no effect on bitcoin's viability as a currency. Heck, in the Satoshi client, the bitcoin isn't even stored with a decimal point, it is simply a long string of integers and the client adds the decimal in so we can comprehend it. You might as well say that whatever million Satoshis should equal $1 but then you sound like even more of an idiot.
Please, understand the fundamentals of number theory and monetary exchange rates and real inflation before you place an arbitrary value on "what you think 'One Whole Bitcoin' (i.e. n million satoshis) should be worth before it is usable as a currency."
Heck, why $1 and not 1 Yen or 1 Peso or 1 Remnibi? Think before you say ridiculous things Grin

Why shouldn't 1 mBTC = $1 or 1 uBTC = 1 CND or 1 Satoshi = 1 shilling? WTF mate.

It has nothing to do with that. I'm just not prepared to tie up significant capital in such a volatile medium of exchange. At a dollar each there is a much more limited down side than at fifty.