Bitcoin Forum

It wasn't long ago that good news of any kind, made Bitcoin skyrocket. Now there are article after article touting Bitcoin as a revolutionary new game changer.  Legitimizing it.  7 million dollar houses for sale with it.  Lambos & Teslas.  Space flights.  Mentioned on Jeopardy.  25 million investments (Coinbase).  Paypal owner praising it. Wall street will pour hundreds of millions "in the next 3 to 6 months" (SecondMarket).  

All of this news in just the last week or two.  Yet the price just sits there... just under $1000.

Maybe we've reached the maximum price for typical human beings to warrant purchasing a commodity.   I have asked this over and over again:  What is going to warrant /  Who is going to dish out the money for / the price of Bitcoin going to $2,000 ... $5,000 ... $50,000 ? HOW is this going to happen?   WHAT is the process?  I can't think of one. mBTC is mentioned, but even if everything switched to mBTC would that facilitate the price hitting $5,000?  If so ... im asking how.  The math behind it.  The logic/philosophy.  It seems that something outside of buying and selling on the exchanges would have to push bitcoins value up.  What is that thing?  I honestly don't know.  Do you?  

I honestly wonder if Bitcoin will sit at $1,000... even as it saturates the world market.  Disagree?  Then tell me how it will it go higher?  By what method?

-Burger-

Disclaimer:  This is not another "We gotta switch to mBTC" thread.  Unless it truly is the answer to my question.  

Yes, this is actually making me incredibly nervous.  All this media attention, the world waking up to Bitcoin, companies like Coinbase bringing 100's of thousands of people into the market suddenly...and the price is stagnant.  

You might be on to something, from a psychological standpoint a lot of people simply don't want to buy .0001 of something.  For Bitcoin to become successful, everyday people have to use it.  And everyday people who would spend a couple hundred dollars on Bitcoin to shop with aren't going to want to buy .00XX Bitcoin, it's a struggle psychologically.  I am beginning to think that 21 million total coins *In over 100+ years nonetheless*, was simply thinking too small.  Fixed supply for a currency, interesting.  Such a small fixed supply...mistake?!

Another thing that concerns me is that all these "Big money investors" that could potentially be bringing in a lot of money in 2014 are NOT going to buy in if Bitcoin has been slowly decreasing in value, or stagnant, up until that point.  If we don't start seeing some increase soon, all that money could be going to elsewhere.  Hope I'm wrong though, because I want to see Bitcoin flourish!

Soon...
http://2.bp.blogspot.com/-yy9ToVOIRkU/ToB6E37EmsI/AAAAAAAAB6A/U1wyXrLPHGU/s300/over9000.jpg

December is just a month where many people are short on money, January/februari will be different.

Also, we just had a large correction from a bubble, and usually the price goes a bit sideways after a bubble.

This is all normal and nothing to worry about, in fact, we are still ahead on the average trend line.

It is likely to increase in the future because 12 billion dollars worth of bitcoin is not nearly enough to support millions or billions of people using bitcoin as both a currency, as well as store of value.

We'd need close to a trillion, if not more, for bitcoin to be effective in both areas.

You have to be aware that a lot of times, price movement is independent of news, no matter how positive or negative that news may seem.  We have just completed a run from $150 to $1200.  This is a huge move that needs to be "digested"... a term that anyone who has dabbled in the stock market may find familiar.  It's just loading up ammo for the next blast.

yeah this makes the most sense.. but that means bitcoin is more of a store of value/speculative asset than it is a currency. i believe that's true though. maybe we'll see an uptick when more people get money in their pockets, especially from january to april (tax time).

yeah this makes the most sense.. but that means bitcoin is more of a store of value/speculative asset than it is a currency

At this time, yep.  But with companies like Bitpay making inroads, I think it's only a matter of time until this reverses itself. 

i think we're a long long long way from bitcoin being a currency, if it will ever be. there's more incentive to invest in it instead of using it to buy things.

This. The price has been stagnant? I guess in the past week or so yeah, but in the last 3 months it's been anything but...

Bitcoin will likely be between $1000 and $2000 for a while, similar to how it stayed between $100 and $200 for a disproportionately long time.

In fact, if it continues to follow the somewhat unsettling and poorly understood phenomenon known as "Benford's Law" the price will begin with the digit "1" about about 30% of the time:

http://www.technologyreview.com/view/418850/benfords-law-and-a-theory-of-everything/

One a positive note: When it does finally break through $2000, we can expect a relatively quick rise to $10K...

the price has only recently gone from $100 to $1000. You can't expect it keep tripling every time we hear someone has bought a new car with bitcoins.

The very recent rise was due to the Chinese influx, it dragged the prices of the other exchanges up, but the Chinese government put a big lid on that, so the market has settled down again now.

Be patient. Price rises come very suddenly, and often without warning. Sit tight. Could be a big news event, or just time. But another price rise will happen within a month.

Bitcoin just went up 1000% in about 6 weeks.

Still not satisfied?

/ close thread

People are buying as much, thus the price remains constant.

It's because  bitcoin rocketed to 1000 with some third party service from Baidu accepting bitcoins and not making more than 3 , if any sales. Most of the transactions were spam as you can see on blockchain.
Now it takes all the good news in the world to actually sustain an inflated price.

And once it goes up, you suddenly start wishing it stayed at previous levels a little longer ;)

the more people buy things with bitcoin like tesla cars the more the price should go down.... they are exiting the market and their coins are being converted to fiat so that means they are unloaded onto an exchange somewhere.

While more and more people have heard of it, the total number of people involved with more than just dust in a wallet is still fairly small.  What takes things to the next level is going to be integration with current technology and process to do one or more of the following.  1.  Make it "easier" to purchase things.  2.  Save the merchant money.  3.  Make it easier to send funds to people or businesses.   When some or all of those things happen, the demand will increase sharply and thus drive the price north.

The wheel was an amazing idea, but slapping four of them around an internal combustion engine was like the best thing since sliced bread.  Same thing with Bitcoin.

Coins can't be converted to fiat unless somebody buys them right?

+1 Exactly.

There are periods of time in bitcoin history where the price stagnated.

It's remaining at high levels.

Relax.

Hi.

I'm the original poster.

I am not complaining that the price isn't going up.

I am stating that I don't understand *how* it will go up.

I personally feel that human beings on the whole, don't continue buying something that is $2000, $5000, $10000, $100000 per piece.

So im wondering what will facilitate the price to reach these levels.

mBTC theory is one theory.  But I am not convinced that will be sufficient.  

Why would mBTC have to mean an increase in price?  People can buy mBTC at $800 per bitcoin too.  Right?

So the only thing I could think of is this:

Lack of supply at any given moment, compared to the demand.

In this scenario, and this scenario only, would the price go up. People would be wanting to buy and the only "sell" orders are higher, and higher.

But in order for that to happen, there would have to be a lack of available coins right?

How will there ever be a lack of available coins when you can divide to the "millionths" ?

So what is stopping Bitcoin price from sitting right here at $1000ish forever, as people just buy some mBTC's-worth at the $1000 price for a whole bitcoin?

That is what I was trying to ask in my original post.

Something outside of the buying and selling trading market would have to catapault BTC to $10,000 per coin.

But for the life of me I can't think of what that element would be.

Maybe winklevoss trust, etc ... where people can buy whole shares in Bitcoin.  Maybe that's the thing which will enable it.

Pretty much none of the responses above addresses my original question.  Sorry if i wasn't being clear.

-Burger-

This damn coin won't go over 10$. Yeee we're at 32$ Oh! We're back to 2$!

How about some patience?

Did you read anything I just wrote?  Like maybe these lines:


Would be super if someone could get what im asking, and provide a response to it.

JUST LIKE IT DID FROM 10 AND FORM 1 AND FROM 17.
Patience!

Just how people didn't see any reason for it to ever reach 1000 back then , you're now the blind one :).

Early adopters are of course happy with the value rising to what it is today, there is no question about that whatsoever.  However, other than a select few, most of them didn't really invest a lot of money into Bitcoin, they just bought at a super low price or mined.  Things are different now though, as the latest investors who learned about Bitcoin and bought in at $1,000 forked over large amounts of money for their Bitcoins.  If it continues to stagnate for too long, they are going to give up.  And if the only people to benefit from Bitcoin were the early adopters, Bitcoin is going nowhere, and all this "Ponzi/Pyramid" talk will be justified.  So yes, I think the stagnation is a bigger deal than people want to admit, something needs to happen soon.  

To answer OP's question, I think Bitcoin's fate rests in the hands of companies like Bitpay or Coinbase, and of new IPO trusts like Winklevoss's and SecondMarket's.  2014 is going to be the big year for them, as they are the ones that have the power to push Bitcoin to it's next plateau.  I think 2014 is the "make or break" year for Bitcoin.  Because if it fails in 2014, another cryptocurrency is going to replace it before it has time to recover.  

So bitcoin fails , it's called a ponzi , and a new crypto , 99% chance of being a clone will take it's place and succeed :)
Don't you feel like there is something wrong with this scenario?

in the words of my great-grandfather, and his grandfather before that.

patience, young grasshopper.

For me, there are 2 reasons why Bitcoin could rise:

1. The business around Bitcoin gets developed so you can buy more things direct in Bitcoin (without having to pay 10% or more fees).
This will take some time and give a steady rise in Bitcoin value.

2. In the "normal" world some financial crisis happens: example France or Italy are on the brink of default.
This will give a monumental rise (times 5 tot times 10) in a very short time (days, week).

Don't you feel like there is something wrong with this scenario?

Uhhmm...no.  Why?  Because the general consensus is that cryptocurrency is the future, whether it is Bitcoin or something else, I've seen countless Bitcoin enthusiasts admit this much.

I want Bitcoin to be a success, I'm just really concerned right now because for all intents and purposes, the price seems like it should be going up.  *wide press coverage, exchanges like BTC China and companies like Coinbase saying their membership is skyrocketing, etc*  The fact that it isn't budging despite all this is leaving myself, and many others, very concerned.   Hence...OP's post.  

Here's my take...

Bitcoin is just too damn difficult to use or understand. And people don't bother with something they don't understand, especially at a price of $1000/unit that was $13 a year ago.

I still talk to people who think they have to buy a full bitcoin and are waiting for the price to drop by 50%.
Its psychological -- they think they aren't getting any value for less than 1 BTC.

Also, the wallet experience is absolute shit. as a UI engineer and usability guy, this was the main reason I didn't buy any in 2010 when i first heard about them. 2 years went by...and I still couldn't download more than 5% of the blockchain w/ my computer running and fan overheating for 2 days straight.

Sites like Coinbase are starting to change this...but then everyone says not to use web wallets, so there is fear there and people simply give up. "cold storage", "paper wallet", "encryption, backups" -- people don't know what any of that shit means.

Also, who is going to buy at $1000? I wouldn't buy a share of Google stock at $1000. I don't think Google will go to $10,000 anytime soon. I'd be a fool to buy at the all time high. People use the same logic on Bitcoin that they use for stocks.

Its a pain in the ass to acquire Bitcoins as well. You have to verify your account, know your routing number/account number, wait 5 days, then do a deposit to fund the exchange wait another 4-5 business days. I know this isn't Bitcoin's fault. But can you blame anyone for giving up? Then there's the option of using LocalBitcoins, and you risk getting shot or scammed.

Before you start flaming me, telling me I'm wrong, these are my observations over the past year both as a bitcoin enthusiast and someone who is constantly explaining what Bitcoin is to people.

So for Bitcoin to really take off, people need to think they are getting a value, mBTC should help with that. They also need an easy, secure wallet. I like strongcoin.com for that (i hope they support altcoins eventually). In my mind the wallet situation is the biggest problem.

The WinkleVoss Trust (which will be open to anyone) and traded on a real stock exchange, will probably be an easy way for people to invest in Bitcoin w/o the hassle. Traded on etrade, tdameritrade, etc. etc. in the environment they are used to. If it goes well, I suspect there will be other ways to invest soon to follow. This will drive the price to staggering levels if that happens...but people won't be holding bitcoins, so this doens't improve the bitcoin economy. Since there's nothing to spend at your merchants that start accepting.

There's also the deflationary aspect, why spend now when it will appreciate if I hold them instead. For people to spend, they need to have large amounts of mBTC. So 1mBTC for a cup of coffee isn't a big deal when you have 10k mBTC in your savings.

I think in 3-5 years time, we may see TDAmeritrade and other Forex brokers start to offer trading in BTC/Fiat pairs. Once this happens, there will be more stabilization as leverage and shorting will help stabilize the market. The current BTC exchanges would have been evacuated long ago if they were dealing with stocks and 60 second order lag times. Maybe coinsetter.com with their <1ms execution time will change all that and big money will enter the market unadulterated.

For what its worth, I'm extremely bullshit on Bitcoin. I think its the greatest revelation of our time. Since the Internet, or even Jesus. Maybe even bigger.

There weren't many well perceived news recently.

European Central Bank issues warning, New Zeeland and Australian Central bank issues warning, Chinese Central bank issues warning. US closes Cassacius coins. Fidelity backtracks and no longer accepts bitcoin investments for IRA accounts.

All the above happened quite recently and were perceived as negative so....Price is pretty stable considering the above and how people perceived these headlines.

If Bitcoin which is the representative of all the cryptos fails and ends up called a ponzi scheme , no crypto will ever succeed.
It's already hard to get rid of this tag already , but with an actual failure , nobody will be able to do it.

just my opinion:

The fast rise in price up to 1200 was mainly a pure speculation bubble.

The actual price of bitcoin (from storage of wealth and usage) is much lower than the current exchange price (best guess 366), because of lots of speculation (even after the bubble burst). This means that even if this actual price goes up to 500, it doesn't guarantee that the price goes up. It will just change the anticipation of the speculators into reality. When(or if) the real price (from storage of wealth and usage) goes up to the level of the exchange price, we'll see the next growth spurt.

Also as stated before, usage of bitcoin doesn't necessarily drive the price as much as you think. If 365 dollar are put into BTC for one day and then used to buy something and the merchant changes back to fiat immediately, the real investment in bitcoin is just 1 dollar. (a day calculated for a year) You can imagine how may short transactions are needed to have a sizable impact on the market.

That being said, a stable coin is good for the market and gives time to develop new things. As time passes, people who adopt bitcoin will do so because of its aspects, rather than its price. (certainly you don't hold cash for speculation, but because it is useful to you where you live and in your life.)

not to mention the 25 mil just raised by coinbase

Why? Because of human psychology. Most people would rather own 1 mBTC than 0.001 BTC, even though they're the same thing. It just sounds better. Therefore, they're willing to pay more for 1 mBTC than 0.001 BTC. (Thus, the price increases.)

It's irrational and not logical, but humans aren't hardwired to handle logic and rationality. We're beings driven by emotions and simple instincts.

THIS IS HOW THE CYCLE WORKS. Price rise attracts attention. Attention attracts investment and entrepreneurial talent. while price drops back down those companies are still building the infrastructure. Now we have more infrastructure, which opens the gates to more adoption. By now the price has been digested and further adoption has increased psychological support for higher prices. Then another bubble. Same pattern will inevitably repeat itself. Not only is bitcoin genius because of its tech innovations but of the way economic incentives are built. Think about it, if you go work for a company chances are you will never own equity unless you work there your whole life, you dont see the fruits of your own labor. With bitcoin you do. Thats way any logical, talanted, self confident person would perfer to work in bitcoin than wall street.


The psychological barrier can be removed by moving to mbtc
The market does need to digest, and I expect a short term fall, even tho i am not out because i am not a good trader.
The winkelvii ETF is overhyped if anyone is getting an ETF its a financial institution. Idk why people think that wall street is gonna let to kids open up the most profitable ETF and do nothing.
The regulation is underestimated. I for one do not believe that governments are gonna stand buy and let this happen, past few days china, EU and russia all have said anti bitcoin things (the russia guy said virtual currencies are great but we want to control them we will wait for bitcoin to fail). And they can effect short term price. On the other hand not all policymakers are paid by the FED, some of them are paid by silicon valley and hedge funds that have positions, and some of them realize that just like the internet is bigger than we ever dreamed of in the 1990s despite the bubble bitcoin can do the same thing and they want a better world to live in themselves.
Investment always overreacts, to something will consumption always undereacts, as the price calms down innovators will build new systems, merchants will accept it more, so on and so forth, the price rose to fast anyways.
Because there is a big market everyone is working on things, wether it be coinbase that is public about it, or kryptokit that came out of nowhere or snapcard that allows you to buy anything in BTC. There is a delay these things take time.

We 've seen all those news before. That's why the price haven't moved. And those news can't come close to an internet giant like Baidu accepting bitcoins. On top of that don't expect the market to rush into bitcoin after the latest massive swing.

this is my worry, first i thought we were going to the moon after we rallied following the low, but it seems less attractive now...

As mentioned, it's the holiday season - at least for a large portion of the world. People are more preoccupied with buying gifts, planning vacations, preparing for relatives visiting from out of town, studying for end of term exams, writing end of term papers, dealing with work deadlines and whatever else needs to be done before the year is over, etc, etc. Even if they've seen the news, figuring out out how to buy bitcoins is prolly lower on the priority list right now for most people as they spend their time and money on family and holiday stuff.

If i remember well the days around thanksgiving were good days for the price  :P

If its one thing that gets my goat in the bitcoin world its people insisting that we need to switch to mBTC because BTC is too expensive. What utter drivel.

All switching will do is confuse people, and split the bitcoin community, because there is no way in the world everyone will agree to change, and why should they?

Bitcoin got quite happily to $1200 without the need to switch to mBTC, and it will go quite happily ever upwards without the need to divide it by 1000.

A share in google is $1,060. By the same logic, google needs to switch to mGoogle, everyone will say "these are cheap" and buy loads more.

Rant over.

agreed. i have no interest in changing, the perception people have is already there. i don't see everyone switching either.

how many normal people have you spoken to about BTC? because psychology has a major impact on BTC's adoption. i don't really care either way, but the proponents of mBTC do have a point.

comparing BTC to google stock is not quite fair, especially since you can't go to a bar and pay your tab with GOOG

what point? that people can be tricked in buying up by being made to think its cheaper?

The problem is that normal people have seen a crash in April after a price surge with lots of media coverage , and now they have another price surge and they are waiting for the crash. Simple at this.

well, if you want BTC to be spent like a currency, telling someone "i will pay you .005 BTC for that beer" is not really going to cut it. it can get confusing.

People are buying bitcoins right now because they hope it will raise in value , not to be able to pay a beer with it.
Same for google stocks.

You dont understand basic human pyschology.

...add to that a $800 credit card bill for christmas...and they aren't in a hurry to spend another $800 on bitcoin.

That sounds really cheap, 0.005 BTC. So much for the psychology of switching to mBTC because bitcoins are too expensive. So you want someone to say 5 mBTC? Is that micro, mini, just "m". How do you say it?

What if the price goes up a factor of 10 or 100 again in the next year or two. You will be calling for us to all talk in uBTC or a different unit when nobody has got over the confusion of switching to mBTC.

Bitcoins have 8 decimal points for a reason. Learn to love them.

yeah, i don't see how we can just keep changing the unit to fit the current fiat value....

1 BTC is a lot, it is 1 / 21 million of all coins. Pricing in BTC could work when Bitcoin was used only by few geeks, but not anymore, you can buy new comp for 1 BTC

So you suggest we change the unit of currency every time we have a major price change relative to fiat? Seriously? So it increases 100x and we all have to convert all software / hardware wallets / articles to mBTC, and then it drops 10x and we revert back to BTC, and then it increases again, and we go back to mBTC, and increases yet again, and we have to go to an as yet unnamed yet for 1/10000 of a bitcoin.

Or we could just leave and use decimal points. I'd love a pint of beer for 0.00001 BTC in the future, sounds so amazingly cheap :)

K.I.S.S.

its too difficult to do the simple math in your head when you have a bunch of leading zeros. When 1mbtc =~ 1 USD its pretty simple to know what your paying.

Yes, at this current point in time, 1 mBTC roughly equals 1 USD. But that is just today. You have to plan for a huge range of possible bitcoin exchange rates, not just what the exchange rate is today ..........

I give up. Use mBTC if you want. I'm sticking with bitcoins.

its no different than a stock doing a split or a reverse split to make it more user friendly.

Think of it this way: The press might be the reason we're stagnant instead of in a hard downtrend right now.

Wow, is there a website with this data or you just made a rough estimate? This is interesting!

How do you know you haven't got it backwards? Correlation does not equal causation. Maybe skyrocketing prices just brings a lot of media attention.

Good news don't make bitcoin skyrocket, it's the upward pressure that does.
Meaning that buyer pressure is higher than seller pressure, and this comes from extra fiat entering the exchanges, and less coins being sold, hoping for higher prices.
That extra fiat comes mostly from increased notoriety and good news, but now it's slowing down, and soon seller pressure will get stronger.

Lol. Your really reaching now.

You've been saying this for weeks.

This thread is absurd, I've turned my $14 bitcoins into $800+ and am happy as hell.. who cares if it drops to $500/$600/$700/$800 and sits there for a while.. were all going to be the new super wealthy anyway. It takes time for something as revolutionary as bitcoin to find its place in the WORLD.  In the mean time, for all you who are complaining why don't you just sell ME your bitcoin and you can go buy some stocks or bonds, or GIC's instead.

 

People are not used for amounts like 0.00001 or 0.00000258, I mean for the average person it must be lot confusing

Many of us who weren't as fortunate as you should celebrate the lower prices which are allowing us to buy far more than we would otherwise be able to. My bank is offering 2% annual on their GICs... I think I'll pass LOL.

I feel you, but still, even if you're down a bit you're still good.. I may be lucky but I've lived through these times already and I know whats to come.. Just relax, forget about the coins for a bit and before you know it they'll be worth double.

I say the fees have to change to being nearly free and not $.10 per transaction

Divisibility doesn't destroy scarcity.

People have had the same feelings as you about sustainability and growth potential at every level of bitcoin price.  You feel like the price is too high and demand in the future won't ever support higher prices.  You aren't bringing much to the discussion beyond that and you've already reiterated this feeling of yours all over the place. 

The truth is nobody knows what will happen, but if sufficiently more people use or perceive value in bitcoin the price will rise, if not it won't.  There is no hard ceiling at the $1000 level.  Also price has never closely followed every piece of positive or negative news up and down.

It really matters only for micro transactions. About $.10 cost me one SMS

wait for the next euro-crisis (like cyprus) and it will skyrocket to 10x acutal prize or more.

the cirsis will come 2014 or 2015, stock markets will crash, banks will bail in customers money.


i will quote this post when it happens.

It will take a month till the next rise, up to 2k max before the next fall

The problem with those crashes that everyone is waiting so anxious about is that bitcoin will also get toasted in the process.
If those banks that bail in have also the exchangers money you'll see a collapse of the bitcoin economy also.
And , a euro-crisis , again , will bring unemployment , wages cut , people going out of business , is that what you want?

I'm sure that isn't what he wants but it's going happen to anyway.

This is exactly what I have been thinking.

The consensus among many on the board is that we are well over the trend line of the predicted adoption curve.  That usually leads to a "crash" or "correction" or whatever you want to call it.  The fact that we are staying within a good range around 800 to 900 shows some healthy support.  This is during the holidays as well.  Many people need cash right about now, so it would be expected that the price would drop again.

Each day that the price does not drop is a really healthy sign in my opinion.  The news is just keeping things humming along I believe.

I do think that January we will seem some gains.  Maybe even the week after Christmas.  Second Market is offering some discount on fees for anyone buying in before the end of 2013.  Some might be waiting until the end of the year to do that.  They don't want their funds tied up very long and are just waiting, but that is a guess on my behalf.

I am really looking forward to 2013 for many reasons.  ;D  I invested later than many of you so the rewards you are already reaping will not be realized for hubby and I until next year.  Don't get me wrong, I am still pleased with our investment so far, but I could not go out an buy a Tesla or mansion in Vegas yet!  ;) (not that I really want either of those anyways!)

The price is being pushed down, meanwhile it is being acquired!!! Trading bot formulas are designed to accumulate shares/ or bitcoin without increasing the price to crazy levels, You can buy options on bitcoin so to go in with 5000k or 500 orders the price would shoot up and ppl would jump on the trend and price would fly. So do do this you sell .00000001 at a lower cost(take loss)over and over and over to keep the price down to a level above support. then you buy back more then you sold from bearish sellers. It's easier to do with bitcoin than with stocks because its so divisible. and costs little to sell. You can do the same thing in the reverse buy agreeing to buy .00000001 for more then its worth over and over and over! Its easy to do when you have multi million dollar black box that is trading for you on an exchange in china that doesn't charge commissions on trades... Thats why you see the charts so smooth. So quit worrying about the price and trying to get rich a week after you bought your coins... You should probably sell and pay back the loan you took out to buy the coins, or pay that visa off that you used at coinbase!

You are really looking forward to 2013? Have you been hibernating for 11 1/2 months? :-)

After a meteoric rise it is normal for people to need some time to understand that the party is over. Dont take me wrong i don't mean that bitcoin is over, only the 10x/month rise.

It has been a long day.  ;) I meant 2014

But hey,  2013 is not over yet!  ;D

lol. Its been a long year in bitcoinworld. Just thought you had slept through most of it ;-)

Price stability is a good thing, Im actually kinda glad its been hovering around $900 the past several days. Once the traders are convinced its not going to take a skydive they will start buying again.

There is a history of moon rocket and then plateau, just give it a bit.

Yeah, "several days" is about as stable as bitcoin prices get. Expect some movement this week.

If you look at a long term graph, you hardly even see the price moving except the 3 latest bubbles, the rest is quite smooth.

Long term graph doesn't show "details". But I guess it depends on how you define "moving". I've seen a lot of moves in the last year.

what i'm saying is that the volatility isn't that bad if you look at it in hindsight.

yes it swings with $10~$100 a day, or sometimes in a few minutes. But in a year we'll laugh at these tiny swings.

Volatility is volality. Nobody looks at volatility "in hindsight". It affects people at the time, day to day. I think what you are saying is "the price has shot up overall in a year so who cares about volatility". From a speculator's point of view that is essentially correct. But if you are attempting to persuade people bitcoin is a viable everyday currency, it is not.

problem is it goes from 'a bitcoin' to 'a satoshi' without any catchy marketing names inbetween..

how about Nixons @ .01?    :P    Clintons @  .1 ?

or some international things?  like Jabba's @ .001?

people can then start to equate $100 for a Jabba or whatever

I am fond of a satoshi. Only problem is it is so damned small :)

Bottle of beer, 7 million satoshis .....

Woah, I'll take my business elsewhere  ;)

In case you don't know it already uncle sam isn't involved with bitcoin at all...

I guess the tongue face didn't express the joke of it eh mr serious??    :-X

There's a good one - Uncle Sams @ 0.5

Well i missed the sarcasm because of all those people in the forum that think that us = the world.

Has there been a poll on that? Not whether people are in the us or not, but whether people in the us know whether know the rest of the world exists?

Lots of positive press everywhere, yet the price is still going down and the spread is big. Guess what that means.... We are not going back to 1000.
Many respected financial experts have already said that bitcoin will soon collapse completely. The above mentioned is a clear sign that  this is imminent.

FUD alert. As if you couldn't tell anyway ;)

Picture of how the US sees the world ;)

http://suddenworld.com/wordpress/wp-content/uploads/2008/02/us-centric-globe.jpg

Stable price despite good or bad press is what Bitcoin needs

I'd say let's not panic.  Look how well it did when it built a base down near $200.  It's ok for it to sit around here, you don't want it dropping like a rock though, it will make everyone nervous.  Not sure what it will take to get to all time high, maybe some sort of calamity in the world or a financial problem, like what happened in Cyprus.

It's easy to say not to panic when you haven't bought at 1000 - 1200. Put yourself in the position of those that did. Also the meteoric rise wasn't about a solid base at 200$ or something. It was about surep good news coming especially from China. And China is what brings the coin down as well.

If you panic easy you shouldn't be speculating on bitcoins. Its a risky business. we've all learnt that the hard way, whatever time you got in at

I'm sorry? Can you repeat that? Lol
Please do check the charts while at it.