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A comment on The Wealthy Are Hoarding $10B of Bitcoin in Bunkers. Parent comment

Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by pwinnski on Wednesday May 09, 2018 @10:21AM (#17030028)
The question answers itself: they weren't. It also beggars belief that they were regularly spending bitcoins that was shifting in value by hundreds of USD in a matter of hours. The would be irrational to the point of lunacy if true, but I don't believe it is.
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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by icebraining on Wednesday May 09, 2018 @10:38AM (#17030152)
It also beggars belief that they were regularly spending bitcoins that was shifting in value by hundreds of USD in a matter of hours. The would be irrational to the point of lunacy if true

How so? What matters is the price at the time of transaction, no?

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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by mkirklions on Wednesday May 09, 2018 @10:32AM (#17030109)
What is the crazy part?

I bought BTC at 200, 400, 800, 1200, 3000, 11,000, and 7,000.

I like BTC wayyy better than USD. If I need to spend 2$ at taco bell, I'll just use my bitcoin.

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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by chriswarbo on Wednesday May 09, 2018 @01:35PM (#17031856)
> If I need to spend 2$ at taco bell, I'll just use my bitcoin.

The currency you're using is USD, since that's how Taco Bell set their prices and it's how you're measuring the value of your bitcoins (via the exchange rate).

I've yet to see any business set their prices in bitcoin. Everyone accepting bitcoin payment is setting their prices in fiat currency (e.g. $2), and accepting an equivalent amount of bitcoin (based on market rates); i.e. treating bitcoin as a payment gateway rather than a currency.

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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by beojan on Wednesday May 09, 2018 @10:51AM (#17030265)
And kicked yourself for that $180 Taco Bell when it peaked at $18,000, right?
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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by ric2b on Monday May 14, 2018 @01:56PM (#17067743)
Just as much as you kicked yourself for spending $2 on Taco Bell instead of buying Bitcoin at the exact same time.

It's the same thing.

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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by mkirklions on Wednesday May 09, 2018 @11:04AM (#17030366)
No, I do DCA.

https://www.investopedia.com/terms/d/dollarcostaveraging.asp

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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by beojan on Friday May 11, 2018 @05:54AM (#17046036)
To buy Bitcoin, sure. When it hit $18,000 you would still look back at the $2 (then) worth that you spent at $200 / bitcoin and regret it.
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Re:The Wealthy Are Hoarding $10B of Bitcoin in Bunkers by ric2b on Monday May 14, 2018 @01:58PM (#17067764)
> When it hit $18,000 you would still look back at the $2 (then) worth that you spent at $200 / bitcoin and regret it.

This a completely emotional argument, there's no logic behind it, you could also regret spending $2 at Taco Bell instead of on Bitcoin.

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