Bitcoin Forum

So we just had a pretty bad week.

me in particular.  I finally get real money invested in the system and the largest exchange crashes.  Fun fun, but I digress.

We had the largest exchange hacked, the market flooded, security compromised, prices drop to pennies, intentions of traders questioned, and all manner of horrors in a short period of time.

And yet bitcoins are still trading around 14-15 bucks each.  If bitcoins can survive that with really no total loss of value, then they're hardier than many people have given them credit for.

Long live the bitcoin!

+1
Bitcoins are like a religon,
They always have there little bumps.

Volume?

Volume? Where are we going we don't need volume!

Satoshi will reveal himself as the second coming of Christ in 2012.

And satoshi pulls off his mask and it's THE REANIMATED CORPSE OF JOHN MAYNARD KEYNES OH GOD WE WERE SO FOOLISH NOOOOOOO

Bitcoins are in fact like religion because the faith of the people who believe in it give bitcoin it's value. In that aspect bitcoin is very much like a religion. Only difference is that this religion will actually save lives when the world's fiat currencies start collapsing whereas others will tell them to pray for a change.

edited:  Derp.  Misread you.

How will bitcoins save you?  So let me get this straight, the fiat currencies collapse essentially causing mass panic and destruction but 1) you have electricity, 2) a working internet and 3) someone willing to exchange tangible goods for survival for your bits of code.

Hookay.  Goodluck with that.   

Forcing everyone to invest in their own sustainable energy, and thus be more secure?

I think that's a fantastic idea.

Yes, and here are additional reasons:

Bitcoin: A New Commodity Created To Serve Market Demand
http://economicsandliberty.wordpress.com/2011/06/22/bitcoin-a-new-commodity-created-to-serve-market-demand/ (http://economicsandliberty.wordpress.com/2011/06/22/bitcoin-a-new-commodity-created-to-serve-market-demand/)

I find it funny too that the last trade is 15.40 on Tradehill, yet everyone thinks it is going to zero...

Oh, about volume, since it isn't the same volume as Mt.Gox, I guess it would be easier to crush to zero, but jeeze, just doesn't seem to be happening.

It's okay, we'll wait while all the CRASH CRASH CRASH fanatics readjust their theories... comon boys, if it is so easy - why am I not seeing it trade at 1? 0.50? 0.01?

+1

It would be fun to read what they say about these events in the history books (or whatever they use by then) of some hundred years in the future

You're cute Desu, but what is that plastic thingy you are wearing?

I don't think BTC's will go to zero over this but you can't really make an assessment while the largest exchange is in a freeze.  You have thousands of users with cash and BTC's that they have no access to.  You can't trade what you don't have.

That's what she said ¬.¬

+1 long live the bitcoin!

CRASH fanatic == Not me.
Realistically, we are in a long-term bull market and short to medium-term bear market. There are over 7,000 new coins produced every day, plus the vast majority of ones for sale are trapped at MtGox. IMO, $5 or $6 to $10 is not only realistic, but expected, short-term.

Praise our lord Satoshi. Amen. haha<3

Yes...Yes I did >>;

Just bumping this thread.

Mt. Gox open.  everyone expected massive runs and total collapse.  Value increased by about $1.50.

The bitcoin is tougher than some people thought, it seems.

Bitcoin price increases are just getting started (see my sig)

I agree with you. I still have faith in BTC too. But, I'm curious as to what is driving your optimism.

Are you betting that some savior will arrive who will create a popular use for BTC? Or are you confident that people will just arbitrarily accept it as a store of value?

The most effective way to do this is to get stores to accept bitcoin, and generally increase the trading of bitcoin for things other than daytrading and Forex. The more that bitcoin is used for actually buying things instead of just investing, the healthier it will be.

Go to the Goods/Services forums in Marketplace and see if there's anything you could sell or buy, help the economy. :)

The savior came and his name is Satoshi.  The popular use is as an unseizable store of arbitrary value.

I hear you. Read the original - interesting observations.

Three words: Bitcoin Bucket Shop

:)

Bitcoins are hardcore

This will happen.

Amen fellow Bitcoiners!

+1
We have not even seen the beginning yet  :o

Yea just goes to show how resilient Bitcoin is.

And where are the trolls and shills now? There were a lot of them prior to Gox coming back online but now their strangely silent  ;D

They're too busy buying more bitcoins.