Probably won't go up 10x overnight. Even doubling in less than 24 hours has maybe happened twice in the history of bitcoin.
If you're concerned about your btc position, you just buy more after you spend it. Your probably exposing yourself to about 10-20% risk max. On $10, that's... $2. $2 is not worth supporting the bitcoin community?
Everyone says "nobody will spend bitcoin because it could go up in value." But I own bitcoin, and I'm willing to spend it, and others are of the same mindset, so this really isn't true.
If others were willing to spend it wouldn't that bring the price and volatility down? It seems it is in very high demand and commanding a high price because (most) everyone is hoarding, no?
It's like buying something with Apple shares, sure you could.. but you are paying transaction fees each time which doesn't make financial sense.
Finally I think there is a mental hurdle with the value of ONE bitcoin being worth so much. I know it is silly, but if a bitcoin was worth 10cents and people hand thousands of bitcoins I bet there would be more flow
I think bitcoin is at a price right now that people should be pricing things in milibitcoin which would put each mBTC at about .8 dollars.
Edit: This includes whatever you use to view your wallet and send coins with. Your wallet should display in mBTC so you send 1 mBTC instead of .001 BTC and pretty much never actually have to do conversions.
Probably won't go up 10x overnight. Even doubling in less than 24 hours has maybe happened twice in the history of bitcoin.
If you're concerned about your btc position, you just buy more after you spend it. Your probably exposing yourself to about 10-20% risk max. On $10, that's... $2. $2 is not worth supporting the bitcoin community?
Everyone says "nobody will spend bitcoin because it could go up in value." But I own bitcoin, and I'm willing to spend it, and others are of the same mindset, so this really isn't true.