Bitcoin Forum

...does not look like this:

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=&i=&c=0&s=&e=&Prev=&Next=&t=C&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

it looks like this!

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=1&p=0&

Do we have to have this same conversation every week?

We'll definitely go to 500$ by May

Bitcoin is the religion

And I believe in it

Dat volume!

Yeah, that still doesn't look sustainable...putting it on a logarithmic scale doesn't really change the base information, does it?





Yup....




....and this is why.

Just saw an insane move to the upside, am I alone in thinking someone is behind this? I saw a big ~2400 BTC buy @ $122.90 and it just kept pumping in up to ~$126.90

$300k+ purchase just like that?

Some people really trust Bitcoin will be used in the future alot

Seems so, he just bought it up to $130. Mind you I'm more concerned with consolidating a ton of BTC to one individual or entity.

There is definitely a slow and steady buying happening at whatever the current price happens to be.. on average its like 10btc per 3-5 minutes.. it is relentless, ask walls are inevitably chewed through, bear dumps are slowly and surely bought back..

I can only imagine that we are running out of bears with funds to fight back..

Up we go!

Tech savvy people start a mining rig to profit

It's the non tech savvy people that inflow the USD

Shhhh! Don't spoil the secret!! COME ON!!!

Oddly enough, I completely agree with you, evolve.

You're... what?  A very long term bull and a short to mid-term bear?  I'm a total bull:  to me, crashes are a buying opportunity - nothing more.

Eh.  That doesn't matter.

Here's the thing - it's a matter of perception; of historical perspective if you will.  While I agree that this doesn't look even remotely like sustainable growth, I question the foundation of looking at bitcoin like that.  I can't look at it like a stock, or an investment in the real world and its goods of any kind.

So answer me this:  what if - rather than the unsustainable growth of a fictitious commodity - bitcoin is nothing more than the release of a decades or even centuries-long pent up demand for an end to the control imposed on us by those who now own the wealth of the world?

Because that's how I see it.  I see it catching on like fire in a drought.  One by one people begin to understand that there is an alternative, and all they have to do is grab on.

So yeah, there'll be a crash, or a correction or whatever you care to call it.  But it won't matter - not even in the short term.

The cat is out of the bag...

I think that although we have fundamentally different ways of looking at bitcoin, you seem to approach it in a healthy manner (in that you are prepared for crashes, and that those crashes likely wont have an appreciable impact on your lifestyle). So while we disagree on BTC's trajectory, I can respect your point of veiw.

However, my posts aren't really directed towards people with relatively sane (if not a bit overly optimistic, IMO) veiws.  I'm hoping to reach some of those people who are taking out loans or otherwise leveraging debt to buy BTC; the people who are going to be in a world of hurt if and when BTC crashes.  A lot of people around here are deluding themselves into thinking that a 2011 style crash isn't possible again.  Even worse, you have a large percentage of people on this forum actively encouraging people to risk their livelihood on BTC. Somebody has to provide the voice of reason.