Bitcoin Forum

Should get interesting from now on! Especially considering that the 30$/bitcoin price bubble has pretty much popped.

Excellent time to buy in, if you are not scared!

For me the more pressing issue is I created my Dwuala or whatever the crap account today... probably 2 business days to get the deposit thingie, then another 2 or 3 to get it to Dwuala, then another 2 or 3 to get it to Mt Gox

I'm not so sure you can conclude it'll level out at $10 ...I'm expecting it to touch $8 USD to be honest.

This week will be exciting for sure!

When I say leveled out I mean it has stopped bouncing around from like 13-20$.

People ought to treat is as a currency and try to focus on getting businesses to accept it more.

Anyone betting on a rally on monday?

True but if you ask me we should get everyone to accept it more.

We need more people to use it (as a currency).
We need more business to buy/sell/trade it.

Yup, time for bitoption hoarding :)

Once all the fund transfers hit via MtGox, there is sure to be some movement. The Dwolla snafu and other mitigating factors created a perfect storm for a slide.

Technical indicators suggest $8 as the floor, but there's a possibility of a "dead cat bounce" on Monday / Tuesday, ramping back up to $20. There's a high likelihood that difficulty is also going to increase on or around Monday.

It's going to be interesting to watch.  

the problem with bitcoin economy is that the only value bitcoin has is its usage to anonymize the cash transactions. meaning that people buy bitcoin, pay someone and then the other party immediately sells the received funds.

so the only way bitcoin in price can grow is when the need for anonymous transactions using bitcoins grows faster than the new bitcoins are generated by the miners.

except for the speculation of course but that would probably also end sooner or later ... or it wouldn't.

well lets hope some of those mexican drug cartels start using it and using the millions of dollars to buy up btc.

Drug money would help certainly. Getting btc involved with the porn industry would be a boon too I think.

I think drugs would be a bad route, then miners will be getting busted by the cops because drug money passed through their hands, and if you honestly think it's anonymous, you're crazy.... nothing is anonymous....

Does the grocer who sells milk to a drug lord get arrested for handling drug money?

I think it still has a large potential to go down. I expect the bottom to be around 3-5 USD.

I would beg to differ. If you know what you're doing, Bitcoin really is, just like cash :P

Nah, shouldn't go lower than about 8.

It is private, but it can be used anonymously with the right steps and combination of methods and software. Privacy is the biggest plus in my book. Much like cash transactions where you and the other group or individual you are carrying out the transaction with have a memory of the transaction. You only need to reveal as much as you'd like.

For example, you could "attach" your real name to a transaction such as through a Bitcoin accepting business. However, you could also anonymize through Tor in addition to a VPN or reverse proxies (for IRC or other account creation, e.g. webmail for communication), using washed BTC or freshly mined block and use only an alias.

The bottom could very well be pretty low, since it's still the weekend, and the price drop is partly due to people not being able to get money from Dwolla into MtGox (which won't happen til monday).

I would be so sure about that. I think there a not too many people in trading currently. Expecting the price to go up and down sharply again.

There, I have a long term log scale chart for you:

http://img534.imageshack.us/img534/3981/longlog.gif


I will let you draw your own conclusions from it...