Quote from: Androidicus on January 24, 2014, 12:17:10 PM

Quote from: colinfx on January 24, 2014, 11:49:06 AM

Quote from: Androidicus on January 24, 2014, 11:45:16 AM

colinfx

As many have said, if people want to buy something that they either desire, can use, or believe will go up in value, then it has value!

There is no intrinsic value in anything if nobody wants it... I believe that ALL cryptos have potential value as MOON has demonstrated and others.

Pump n dump makes people WANT to own it! It creates desire. If more people are buying than selling then the perceived value will rise - it's all snake oil really but hey, who cares if it makes a profit!

Ultimately, the true value of any thing will be whether you can trade it for goods and services. Commodity markets exist because generally the commodities have a value outside of the market - oil, coffee, cocoa whatever. Cryptos will have to have a value outside of the exchanges I guess long term to have true value. But then again perhaps not?

I guess the next few years will be the proof of the pudding but in the meantime a lot of people will get rich, burned, or bored along the way!

+1

I would like to get rich - holding is the the only way. Or I end up with nothing - Like when I started 3 weeks ago! I definitely DO NOT want to look back at this thread next year and think "IF ONLY I HELD!!!"

If MOON crashes and burns - I go with it! 'Til DEATH or GLORY!!!!

Indeedy! Wish I had the hash rates to mine millions!!! Every little helps though and grabbed nearly 1M MOON before the diff went through the roof...

I'm def in the mine n hold bracket. What you said later about luck holds true in every walk of life - people say you make your own luck - personally I think you trip over luck!

"people say you make your own luck - personally I think you trip over luck!"

So true! I didn't stumble upon all the hardware and software and sleepless nights installing cgminer by accident! For 4 weeks (since I found out about crypto) I have thought nothing else! So maybe it is no surprise I mined lots of coins and they went up in value! Yes, maybe I had more to do with it than luck! Also doing NOTHING (ie not selling on first price rise) has really BOOSTED my profits. Why change a habit that has worked so far!

Geesh I don't even know HOW to sell coins just yet!!