Quote from: sublime5447 on December 29, 2013, 02:35:54 AM

Quote from: Kreigyr on December 29, 2013, 12:22:23 AM

Quote from: sublime5447 on December 28, 2013, 10:25:47 PM

Quote from: Kreigyr on December 28, 2013, 10:12:58 PM

I've been rather happy to buy things with my finite amount of Bitcoins simply because of the deflation. I used them on the ride up at around 400$. I used them near the peak at 1200$. I used them at the bottom at about 500$. I used them yesterday at 700$.

Would I in a bear market? Possibly. It all depends on how much of my total wealth I'm expending to buy an album or seven. It has nothing to do where the price is going, but only where it is.

My 8$ and some change.

I have no clue what you are trying to say. When you say "simply because of the deflation" what are you talking about? Are you saying you used your coins because the price went down?

I admit that may have been a little vague. The recent rises in prices have increased the value of my holdings and therefore allow me to buy things with smaller percentages of my holdings. It's substantially more convenient for me to buy certain things using Bitcoin versus USD, and because my buying power with Bitcoin has gone up I don't need to use as much of my total stash to buy, say, gifts for xmas.

See you are just proving the point... you spent your coins because they went up in value, which means you didnt spend them when you believed that there was gonna be a run up in the price. Economies can function like that, people cant seize up the economy because they think that the currency is going to increase in purchasing power. Currency is the medium of exchange it is not the exchange itself. It is just a piece of paper, or a digit in a computer it has no value.

My mindset, before, was that buying the same stuff that I did (~650$ of gifts) would have cost me an entire quarter of my holdings in Bitcoins. Now, that 650$ was barely even a fourtieth of it. The thought that it might go up has nothing to do with it, as right now I full expect my holdings to be worth atleast ten times what they are now within a few years, and possibly ten times that in a few more.