Bitcoin Forum

Start rate   End rate   # of days   Dates
$3.12 $6.25   194   2011-12-01 to 2012-06-15
$6.25   $12.5   163   2012-06-15 to 2012-11-25
$12.5   $25   79   2012-11-25 to 2013-02-12
$25   $50   30   2013-02-12 to 2013-03-18
$50   $100   14   2013-03-18 to 2013-04-01
$100   $200   8   2013-04-01 to 2013-04-09


So, since the money on the planet is finite.......

Umm nope that first one only took a month.  The second one took until August. 

Divide the money on the planet by the bitcoin on the planet and see.

Maybe I should have said "since all the exchanges in bitcoin are only competent handling so much money...."

this!      ;-)

You're not very good with sarcasm are you?

This forum floods with more cretins every day the price continues to rise.

+1. Waiting for MtGox to say, "We can't process moar than $XXX Millions in flows each day. Please take a number and wait."

Proof?

I never realized until now how Bitcoin would become spread out among the population. Weak hands will chicken out and dump their coins before the price really even gets going!

This is the best indicator that the price is going to stop rising soon. It's impossible for the price to double in a matter of hours, and supposedly this will happen next week if the trend continues. Absurd. And remember: there is no such thing as a gentle cool-off.

SO are well all saying that the clever money will slowly move their money into something else while the crash is happening, ready to get back in one everything has calmed down a little?

Or is the expectation that the price should be far higher, that people are buying hand over fist - because its so cheap?

Cheap is a relative term!  I still think the $30 my second bitcoin cost was expensive!

I guess, if the pattern goes to plan, bitcoin will rest for a while and litecoin and PPC will go nuts for a few days trying to catch up?

hehe... read this....

Sorry! Withdraws are momentarily disabled because payouts are taking an abnormal amount of time to confirm. I am working on a new payout system, but in the mean time withdraws will be on for a few hours each day while I test code. Idle in #mtred on freenode and you will be notified when they are online.

Can't withdraw your earnings, what is the the tax man cometh!!!!

A doubling every 8 days is 9% daily growth. We are currently at 10%+ for April, MUCH more for the last 24 hours clearly.

BUT you asked so...

http://tonycoleby.com/shared/2013-04-09b-9pc_bitcoin_growth-for-fun-only.png

We're obviously heading toward a permanently high plateau.

Which will be elevated.

I expect a pretty devastating crash to materialize ahead of this (https://bitcointalk.org/index.php?topic=171388.0).  Then, once a robust and trustable shorting market is up and running, the price will continue even lower.  Eventually the price "stabilize", though much, much lower than it is now, and upward and downward movements will be smaller as a result of margin trading.

The shorting market exists, and is more reputable and trustworthy than anything else in Bitcoin. As proven by last month (http://polimedia.us/trilema/2013/mpoe-march-2013-statement/). 500k BTC notional exposure is about half of MtGox volume, or more than all the exchanges combined. That says something.

PS. Ignoring reality doesn't make reality go away.

more than 3000 posts, and the opposite happened every time. no wait, in june 2011 you hit it. keep on going ! ;D

Leaveraged shorting of bitcoins has been done before. It's a good way to get Zhou Tonged. (http://www.youtube.com/watch?v=kdvTkddp1F0)

Yup. Anyone who's studied diff eq's and rate-of-adoption models knows this.

Weren't you expecting the same around 7.x?