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Title: A bullish sign, or sign we've reached a top? Post by: Bimmerhead on February 25, 2013, 01:29:09 AM Bitcoin has finally reached the status of a speculative fx play in a 'mainstream' publication. Are we thus at a top?
http://moneymorning.com/ppc/reports/bitcoins.php?gclid=CIvtyPml0LUCFeVDMgodcw0A3Q Title: Re: A bullish sign, or sign we've reached a top? Post by: Logik on February 25, 2013, 01:52:33 AM Personally I would categorise that as late in the 'smart money' or early in the 'institutional investor' stage of the bubble cycle. Although the extent to which the bubble cycle can model what's happening here is somewhat dubious.
Remember the dotcom bubble? When your mother starts leveraging to top up her MtGox balance then be worried. If you take the view that Bitcoin is going to back a large number of internet transactions in the future then institutional interest in Bitcoin is a perfectly logical and healthy part of that happening, isn't it? Title: Re: A bullish sign, or sign we've reached a top? Post by: FreeMoney on February 25, 2013, 02:57:01 AM Quote whose value has skyrocketed 399,900% in one year. Oh really?? Title: Re: A bullish sign, or sign we've reached a top? Post by: organofcorti on February 25, 2013, 03:05:06 AM Quote Imagine a type of money, fully protected from the destructive polices of central bankers, whose value has skyrocketed 399,900% in one year. That's what we're talking about with Bitcoins... a new form of "virtual money" that's quickly becoming the most talked about currency investing play of 2013. Imagine a news service, fully protected from press releases, who actually understand something whereof they write. Title: Re: A bullish sign, or sign we've reached a top? Post by: b!z on February 26, 2013, 01:12:27 PM Quote whose value has skyrocketed 399,900% in one year. Oh really?? not this year, silly Title: Re: A bullish sign, or sign we've reached a top? Post by: Rygon on February 26, 2013, 02:02:01 PM Quote whose value has skyrocketed 399,900% in one year. Oh really?? Initially, they were worth exactly nothing, they could have said 999,999,900% and still be technically correct. Title: Re: A bullish sign, or sign we've reached a top? Post by: Peter Lambert on February 26, 2013, 10:07:55 PM Quote whose value has skyrocketed 399,900% in one year. Oh really?? Initially, they were worth exactly nothing, they could have said 999,999,900% and still be technically correct. Perhaps it is more accurate to say initially they were worth an unknown amount. The first transaction assigned a value to them, and then you can measure from there. Title: Re: A bullish sign, or sign we've reached a top? Post by: keewee on February 26, 2013, 11:47:01 PM Quote whose value has skyrocketed 399,900% in one year. Oh really?? Initially, they were worth exactly nothing, they could have said 999,999,900% and still be technically correct. Perhaps it is more accurate to say initially they were worth an unknown amount. The first transaction assigned a value to them, and then you can measure from there. I think the value first given to bitcoins is described on this page: http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate (http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate) From that page: "During 2009 my exchange rate was calculated by dividing $1.00 by the average amount of electricity required to run a computer with high CPU for a year, 1331.5 kWh, multiplied by the the average residential cost of electricity in the United States for the previous year, $0.1136, divided by 12 months divided by the number of bitcoins generated by my computer over the past 30 days." Title: Re: A bullish sign, or sign we've reached a top? Post by: Rygon on February 27, 2013, 01:53:16 AM Quote whose value has skyrocketed 399,900% in one year. Oh really?? Initially, they were worth exactly nothing, they could have said 999,999,900% and still be technically correct. Perhaps it is more accurate to say initially they were worth an unknown amount. The first transaction assigned a value to them, and then you can measure from there. I think the value first given to bitcoins is described on this page: http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate (http://newlibertystandard.wetpaint.com/page/2009+Exchange+Rate) From that page: "During 2009 my exchange rate was calculated by dividing $1.00 by the average amount of electricity required to run a computer with high CPU for a year, 1331.5 kWh, multiplied by the the average residential cost of electricity in the United States for the previous year, $0.1136, divided by 12 months divided by the number of bitcoins generated by my computer over the past 30 days." Good find! |