Quote from: Mogwai on April 12, 2013, 04:34:28 PM

It's hard to stop thinking in $ at this time. You have something other people want and it immediately switches your mindset.

But the Bitcoin did not crash. Every Change in value ends up in a correction in the opposite direction. It's still worth a lot more than 2012.

yes, mindfulness is as hard as it is easy but does wonders for correcting those mindsets and keeping us happy

I'm just using the term 'crash' as shorthand for the 'big price drops recently', I have no doubt that BTC will bounce back as it is very useful and people like buying useful things

Quote from: markymark on April 12, 2013, 04:18:42 PM

Hang onto them. This is still a new frontier and over time BTC is here to stay. You'll be glad you held your ground. Keep acquiring BTCs and don't worry about the price. You'll wake up some day and be plesantly surprised.

Mark

some mornings would be pleasant surprises, others quiet unpleasant. the harmful thing there is that hoarding BTC basically drags competitiveness (if you're making a profit from the boom/bust/boom/bust, it is at the expense of others) into a refreshing cooperative system. Competition, even if you're winning, is stressful. I'd rather not be a winner or a loser but just help out people who help me out

it is true that hoarding speculators that enjoy the competition are needed by the system as well so it can grow, but would be inclined to think that obtaining an unhealthy ratio of competitors (buying and selling bitcoins) to cooperators (buying and selling commodities and services with bitcoins as well as mining and software development) is what causes the crashes. hopefully it is resolved by more people switching to the cooperators team rather than just leaving BTC but we'll have to wait and see how it plays out.

Quote from: odolvlobo on April 12, 2013, 04:51:52 PM

I think you are almost there.

The real value in Bitcoin is not the value of the bitcoins. It is the value of the industry and business built up around it. Sure you can buy some bitcoins and sit on them and hope for the price to rise and make you a millionaire, but the real profit is in building a business that grows into something that makes you a million dollars every year.

Bitcoin is wide open. The bitcoin businesses that have sprung up weren't started by rich people with lots of money to burn. They were started by people like you and me. These people had an idea and they built something, and they are being rewarded even as the price of BTC plummets.

Take casascius, for example. He doesn't do anything special. He makes physical bitcoins and he has done very well. He's a smart guy and I have no doubt that his next project will be just as successful.

Take johnniewalker, for example. I have a lot of respect for him. He isn't the smartest guy here and he hasn't been that successful yet, but he keeps trying. Eventually, he is going to come up with something great and he will be amply rewarded for all his efforts.

cheers, that is exactly the kind of healthier thinking i've returned to - thanks to the crash

i am very thankful to Bitcoin for re-awakening the part of me that had given up on finding something that can make a difference! i don't necessarily agree with all of the political positions behind it, but the power of alternative markets and currencies to make a difference has already proven itself to a degree.. and that is something to be excited about

i am currently trying to learn as much as i can, as quickly as i can regarding those concepts, and welcome any mature discussion as i type away my interpretations based on knowledge obtained so far. as for starting a business, i find myself plagued by the same problems as in the mainstream economy; have the skills to make things happen (software, hardware, design, architecture, development, admin etc) but they're spread out - jack of all trades (involving tech) but master of none (fairly decent at each but not as good as someone focusing in a single field) and definitely lacking business (money side) and marketing skills - i don't really mind but it does get in the way whenever i take the entrepreneurial path... except in cases where i can collaborate with people that have the opposite skill sets; business minded people who need someone with an overall, mature view of technology to coordinate it. maybe there are some here?