GoFuckYourself.com - Adult Webmaster Forum - View Single Post - New online currency - Anonymous, no fees, cant block your account..

rowan · 05-29-2011, 07:55 AM

This guy reckons it's going to literally explode. If you compare the value now when compared to its introduction it has increased more than 1000X.

http://falkvinge.net/2011/05/29/why-...-into-bitcoin/

I can understand speculation and its value growing, but I still can't get my head around what you do if you have $$$$ worth of bitcoin but actually need to use it in the real world. If everyone starts converting back, does that reduce its value? Or will it stabilise as more people accept it as an actual currency used to purchase goods and services, rather than just a way to make some money on the way up?

Looking at it another way... if you put in $USD1000 14 months ago and it's now worth $USD1m+ could you even have enough people to buy that in order to get back the full amount in USD?

Anyway... noticed that mtgox accepts AUD funds... I'm going to speculate.

05-29-2011, 07:55 AM
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	This guy reckons it's going to literally explode. If you compare the value now when compared to its introduction it has increased more than 1000X. http://falkvinge.net/2011/05/29/why-...-into-bitcoin/ I can understand speculation and its value growing, but I still can't get my head around what you do if you have $$$$ worth of bitcoin but actually need to use it in the real world. If everyone starts converting back, does that reduce its value? Or will it stabilise as more people accept it as an actual currency used to purchase goods and services, rather than just a way to make some money on the way up? Looking at it another way... if you put in $USD1000 14 months ago and it's now worth $USD1m+ could you even have enough people to buy that in order to get back the full amount in USD? Anyway... noticed that mtgox accepts AUD funds... I'm going to speculate.