Bitcoin Forum

Come on. We need one of these threads. By the way why is there no tracking site for coinbase prices? I'm seeing Buy Price $253.18   Sell Price $252.96 right now.

https://coinbase.com/charts

is all I know of

also, title needs more !!!

Yeah you can check the live numbers but no one is graphing them over time. Also you could create a rudimentary wall by seeing how the price changes as you plug in to buy or sell smaller or larger numbers of coins.

In this thread feel free to post pictures of rockets, sad bears, etc.

Where's that picture of the bitcoin bull with all the small forum avatars riding it?

I think you're referring to The proudhon song:
https://bitcointalk.org/index.php?topic=169548.0
http://www.youtube.com/watch?v=A7TuFy0fcuw

And of course there's the Bitcoin Rally Song:
https://bitcointalk.org/index.php?topic=168163.40
http://orymh.bandcamp.com/track/the-bitcoin-rally-song

how much of a rally is too much of a rally? what if it goes to $800 in a weeks time?

Christmas comes early?   :D

Ho Ho Hoooolyshit

Bitstamp $256.45

http://i3.kym-cdn.com/photos/images/original/000/242/631/382.gif

Guys, what is the reason of this sudden price rise? Any fundamental changes happening somewhere?

Massive buying in China on BTC China. The Chinese are driving this car now. :)

Please learn one thing and only this thing when trading: the price rises because there are more people buying than selling. The rest will just interfere and aid your lizard brain.

Never ever ask again for the reason.
Never pay attention to the reasons put forward by the talking heads.

Not heeding this advice will lead you to making wrong decisions, trust me  8)

Some markets follow the hoard mentality, and I hope this is not the case, or else it will end up not so well. More or less like penny stock behavior. I hope I am wrong :P

You want penny stocks? Play with altcoins. BTC is the genuine article. It's not a great transactional currency. It can take 60 minutes to move your money. But it is the first money offering freedom. Freedom from bail-ins, capital controls, border controls, unbounded inflation, bank holidays, wire transfer fees, etc.
Bitcoin is for saving. Well it will be someday. Right now it's for crazy speculating. Enjoy the ride.

Holy Crap!! Who is at the Helm!!

If more stuff is bought than sold, where does the stuff come from that is only bought, but not sold?

Why is someone buying so much stuff is the question. What changed ?

noone. plus: we're entering uncharted territory and it's foggy as shit!

China is buying up everything of value. Rumors have it that PBOC already bought 7000 owns of gold. They still have $3Trillion to spend and I guess they want to get rid of that crap.

I guess the reason we don't see commodities rally in similar ways to Bitcoin is that the prices are manipulated down. Once it turns out that the emperor is naked, I expect commodities prices skyrocket, too. That will be the mother of all squeezes.

Few people understand this, even though it's crucial in order to understand the price movements and trends.

If for some reason the Chinese government decides to put some of its trillions of dollars in T-bonds into Bitcoin... Seem ridiculous only because it's probably a bunch of old men, but some of those old men have to be approving the official news coverage. They have to have some understanding on some level.

And continuing with this wet dream, I could further speculate that unlike gold, which the Chinese government is encouraging its citizens to hoard partly probably because they could confiscate it later if needed, they can't confiscate bitcoins, so they may come to the conclusion that they have to buy them directly.

You cannot possibly look into the heads of all individual market participants making a choice to buy or sell. Therefore, any rationale for a price movement is just a best guess at the most, and pure fiction at the worst. Dont bother with fairy tails, just look at the price movements.

Putting all the foreign currency reserves into Bitcoin would indeed be ridiculous. It was their mistake to build up a huge stack of essentially worthless currency and it looks like they are committed to correct that as far as possible in the time they have left until Western currencies approach their intrinsic value: Zero.

I doubt that the PBOC is in Bitcoin. It is just that the Chinese people see the writing on the wall just as the Chinese government does and a small percentage of them buys Bitcoin.

As a result, Bitcoin moves East, just as everything else.

I think you are mistaken, my friend. China build a whole industry in four decades while the West destroyed its industrial base by unsound monetary policies. We have sold the rope that China will use to hang us, as a figure of speech.

After the crash, China will easily absorb the hit and still have an industry whereas we will only have angry EBT card holders and lawyers/bankers/realtors without a job.

Mission accomplished.

I think a lot of people discovered the bitcoins during the recent media buzz.. the fact people need a few weeks to get fiat into an exchange and read up on bitcoin/crypto etc, I suppose its normal to be delayed a few weeks..

Saw this awesome bear necro from Reddit.

http://forumserver.twoplustwo.com/showpost.php?p=25785005&postcount=2

really?  just 2 exclamation points?   ::)

I completely agree with this side of the equation. But it was a mistake to build up that stack of fiat of that size, and it seems like the Chinese government agrees and tries to correct it. Otherwise they would not buy gold in such quantities that their holding will soon surpass that of the US (assuming it is still there). Otherwise they would not buy 5% of Ukraine.

Bitcoin is a tiny part of the equation, but it fits in the general pattern.