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Title: What is up with this rapid climb in price? Post by: kiwiasian on June 03, 2011, 02:31:27 PM Yesterday, BTC was valued 9.5 USD/BTC.
Last night it reached a high of 11 USD/BTC. This morning it was 14.2 USD/BTC. What is up with this? The entire Bitcoin economy is going to crash. Any day now. Title: Re: What is up with this rapid climb in price? Post by: Mapatti on June 03, 2011, 02:33:54 PM It will gonna crash if everybody does sell every single bitcoin that they own.
Title: Re: What is up with this rapid climb in price? Post by: Genrobo on June 03, 2011, 02:36:59 PM Oh, sorry guys, while you were asleep I bought up several thousand bitcoins just for shits and giggles.
Sorry about running the market up. Title: Re: What is up with this rapid climb in price? Post by: bcpokey on June 03, 2011, 02:37:36 PM Where is kiba when you need him?
Bubble! Title: Re: What is up with this rapid climb in price? Post by: AngelusWebDesign on June 03, 2011, 02:51:37 PM Um...I already started a thread about this.
Before you. (No offense) Title: Re: What is up with this rapid climb in price? Post by: Raize on June 03, 2011, 02:58:04 PM It's just there is a huge media blitz going on right now and a lot of speculation. There are a ton of people from Reddit that just came in recently to buy, a bunch of them were on #bitcoin-otc last night. Also, in China people are starting to search for Bitcoin to get around their country's inflation issues.
Keep in mind the price fell once from $8.5 to $5.5, prior to that it fell from $1.22 to $.65, and prior to that $.50 to $.18. The price can and will fall, so if you are buying on speculation, expect to be holding on emotion. Title: Re: What is up with this rapid climb in price? Post by: russelljohnson on June 03, 2011, 03:19:22 PM What is up with this thread in the wrong section?
Title: Re: What is up with this rapid climb in price? Post by: AngelusWebDesign on June 03, 2011, 03:27:47 PM Quote What is up with this thread in the wrong section? Hey, who died and made you the Thread Police? It's quite interesting to the majority of posters in this sub-forum -- hence it belongs here. The price of Bitcoin has everything to do with mining. Title: Re: What is up with this rapid climb in price? Post by: njloof on June 03, 2011, 03:42:44 PM I hope China starts mining in a big way. I would love to be able to buy bitcoins with RMB.
Title: Re: What is up with this rapid climb in price? Post by: bcpokey on June 03, 2011, 04:06:24 PM I hope China starts mining in a big way. I would love to be able to buy bitcoins with RMB. Why does china need to mine to buy bitcoins in RMB? What you need is for someone in china to set up an exchange. Title: Re: What is up with this rapid climb in price? Post by: kiwiasian on June 04, 2011, 02:57:33 AM Does anyone have any idea why price climbed up so rapidly?
Title: Re: What is up with this rapid climb in price? Post by: gigitrix on June 04, 2011, 03:00:09 AM Well there's the Silk Road Gawker article, but that would be giving Gawker and Adrien Chen FAR too much credit. To me it looks like what generally happens when bitcoin passes these hurdles: it doesn't just clear the $10 mark, it soars!
Title: Re: What is up with this rapid climb in price? Post by: error on June 04, 2011, 03:02:48 AM Does anyone have any idea why price climbed up so rapidly? Yes, everyone who bought bitcoins today. Title: Re: What is up with this rapid climb in price? Post by: MrGaSp on June 04, 2011, 05:21:46 AM With the new increase/bubble, we're looking at almost 100 million USD in bitcoins that have been made(granted some have been deleted)..Thats just insane!
Title: Re: What is up with this rapid climb in price? Post by: Dayofswords on June 04, 2011, 06:34:56 AM it's easy to explain
Gawker made an article (http://gawker.com/5805928/the-underground-website-where-you-can-buy-any-drug-imaginable) many picked it up made blog posts things happened many now know how to buy drugs with bitcoins, horay! (http://gawker.com/5808314/everyone-wants-bitcoins-after-learning-they-can-buy-drugs-with-them) Title: Re: What is up with this rapid climb in price? Post by: SgtSpike on June 04, 2011, 06:38:16 AM Does anyone have any idea why price climbed up so rapidly? Yes, everyone who bought bitcoins today. Title: Re: What is up with this rapid climb in price? Post by: gigabytecoin on June 04, 2011, 06:43:38 AM Yesterday, BTC was valued 9.5 USD/BTC. Last night it reached a high of 11 USD/BTC. This morning it was 14.2 USD/BTC. What is up with this? The entire Bitcoin economy is going to crash. Any day now. Bold words! I highly doubt it... Title: Re: What is up with this rapid climb in price? Post by: error on June 04, 2011, 08:25:49 PM Why? Bitcoin is still extremely undervalued.
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