Bitcoin has to be widespread enough to stabilize.

You cannot have a stable price when the value of all of the BTC is so low.

Currently all BTC are worth about $50 million.  If someone with $50 million were to come into the market today the price would double.

The same cannot be said about the Euro. That is why it is considered stable.

There are currently 855 trillion Euro worth $1.2 quadrillion. Nobody will be coming in with $1.2 quadrillion and send the Euro through the roof.

Each BTC would need to be worth $166,000 for the price to be as stable against the dollar as the Euro.

The $8 wall is about 600 BTC, the $6.80 wall is about 3000 BTC.

The fake walls tend to be on the dollar or the 50 cent mark.

It would take the same amount to go up to $8 as it would to go down to $6.75 right now when the price is $7.10.

I see it going up over $8 by midnight.

The fundamentals are the basic premise of Bitcoin.

The basic concept of having a distributed currency maintained by miners with an increasing difficulty as the BTC market expands.

The concept is solid.

Just because there may be companies or personalities that come and go that disrupt it does not mean that the fundamentals are not solid, just that some people and companies are not.

I came in with my $10k investment at $14.25. I have been jumping in and out as I saw things coming and going.

I have 866 BTC (was hoping for 1k before I held long but I see it going up quite a bit at this point).

We have seen the bottom. $6.12 will be the starting point for a long road upward.

The Krugman article should give it enough of a boost to stave off dropping further, plus I know of some technology coming out next week that is very exciting that should bring BTC up to the next level.

I went all in with my $10k investment. I am in for the long haul.

The price will certainly go up once it plays a role in such a niche market...

Over the past few months a number of people have asked what I think of Bitcoin, an attempt to create a sort of private cybercurrency. Now Alexander Kowalski at Bloomberg News directs me to this Jim Surowiecki article on Bitcoin, which is very interesting.

My first reaction to Bitcoin was to say, what’s new? We have lots of ways of making payments electronically; in fact, a lot of the conventional monetary system is already virtual, relying on digital accounting rather than green pieces of paper. But it turns out that there is a difference: Bitcoin, rather than fixing the value of the virtual currency in terms of those green pieces of paper, fixes the total quantity of cybercurrency instead, and lets its dollar value float. In effect, Bitcoin has created its own private gold standard world, in which the money supply is fixed rather than subject to increase via the printing press.

So how’s it going? The dollar value of that cybercurrency has fluctuated sharply, but overall it has soared. So buying into Bitcoin has, at least so far, been a good investment.

Continued...

http://krugman.blogs.nytimes.com/2011/09/07/golden-cyberfetters

It will shoot up over $1000/BTC for about a day then free fall to hover around $800 with a slow decline to settle around $500/BTC.

If everyone stops mining I will run a CPU miner at work and get all of the mined Bitcoins.


But then...not everyone would have stopped mining since I would be mining.


So basically, mining will never stop.

It is exposure at least.

If someone reading it today wants to invest they would probably take a few days to find out how to do that and then a few more days to get their money from MtGox to BTC.

So perhaps a bump next week with real investors and perhaps a small bump before then based on speculation.

Instead of charging a premium...you could always try to pay for the overhead with advertising.

You can get a sponsor for putting a logo on X amount of coins. Just put a McDonalds logo on one side instead of the "B" or whichever logo.

Who knows, maybe the cost would be covered by the ads.

You can also put advertising on the pages that you sell the coins on with a "sponsored by Meze Grill"

I have been saving a lot waiting for the horror stories and gloom and doom to buy.

Another "Is this the end of Bitcoin" article would be good right now and I will drop the last bit of my investment.

Buy on rumor.

How do I get FREE bitcoins for asking questions?

Maria.

Ya, I am having a hard time thinking of how it can be done as well. I was thinking at the very least you could have an auto-encrypted wallet where the password is made up of multiple characters shared by multiple people.

The random chart I found on the Internet did not start at .000001

I just wanted to feel included in the chart posting.

This:

How much time will you spend posting about something that has no use / purpose?

Price is going up...looks like people are back after the long weekend.

Ok, I know the real reason that the Bitcoin is dropping against the dollar.

Because Obama is giving a jobs speech on Thursday and he will miraculously turn the economy around by creating billions of jobs with his speech and the dollar is on the verge of taking off.

Drop your BTC! Buy dollars!!!