That's interesting. I would think it does matter and your example is apt. The strange part is that most people consider paper money to be "real".

I like franky's list. I'll just second that one. 

I took a peek at the price you would have to pay on the first day of previous years to get a sense of annual growth. I rounded the percentages and found each year to be quite different in growth/loss, with gains dominating. It looks like this year we will have about doubled, but it ain’t over yet.

January 1, 2011 = $0.30
+$0.25 : 500% This is a rough estimate as the 2010 start value was basically 0.

January 1, 2012 = $5.10  
+$4.80 : 1600%

January 1, 2013 = $13.30
+$8.5 : 161%

January 1, 2014 = $801.00
+$787.7 : 5923%

January 1, 2015 =$310.00
-$477.70 : -61%

January 1, 2016 =$430.00
+$120.00 : 39%

January 1, 2017 =$967.00
+$546.00 : 120%

January 1, 2018 =$13546.00
+$12579.00 : 1300%



Total growth from start of 2011 (first reliable market data) until writing this. +$962.70 : 320900%

UPDATED Jan 11, 2018 +$13546.00 : 4515233%  


I’m not sure if this means anything but I found it interesting.

I agree with you that there is and has always been some manipulation. But I think it has a negligible effect on the market and is in no way the basis for the growth we see. A person willing to risk a lot of coin could leverage that on an exchange, but it is not going to manipulate the entire bitcoin market. It has just grown to large and diverse, IMO.
As far as disinformation operations that seek to vilify BTC or manipulate my opinion with fear... Well good luck keeping a good idea down. All I have to do is ignore baseless nonsense and act logically. I ask myself "Is bitcoin still the fastest, cheapest, and most secure way to pay anyone anywhere?" As long as that is true bitcoin is worth trillions in USD.
As to the last point about manipulation by governments that can be an issue, but not a bitcoin issue. Some governments outright steal via taxation. Bitcoin offers victims of economic oppression an option to opt out more than a way for such states to victimize them. 

But here's the thing duck.

Hugh? bitcoin is growing exponentially around the world.


Ok, there is some controversy about scaling issues. I don't see how that guarantees anything.


Well any money is backed by faith or "hype". Dollars are just fancy paper and gold is just a shinny rock. People think they are worth something and agree on what that value should be via markets. So money is hype, that may be true. As far as manipulation I see no evidence of that in the markets. If you do please show it. Showing it is something, claiming it is nothing.


By going up? So far the price has reflected growing interest and an ever expanding user base.


You may believe bitcoin will fail, maybe not. But why should we believe that when all economic indicators point north? And when you have literally been wrong every other time you predicted bitcoin's imminent collapse?

You guys are all correct. I have just started dissuading new users from mining because it is a complicated way to get into bitcoin that is unprofitable for most. A lot of people look back and wish they had just bought some bitcoin.
But hey, if someone wants to do it anyway more power to them. They may learn a lot by mining and could even be profitable. 

Unless you are planning to build something like the bitcoin mine pictured below you are very late in the mining game.

Maybe the whales are not cashing out because they already have cash, better cash. 

OMG you never give up being wrong. 
Anyway, good to see you again duck.

So it says silver but it's not. It says replica but it is not actually based on anything. Yep, its a Trump coin alright. 

The price was like $360 at the time. Warren "Buffet", pfft. 

Hi and welcome. 

Three things that I have learned are:

Buy bitcoin at market price from a major exchange in your country.
There is no special deal or way to double your money. Don't use paypal, or skype with a guy who has a good deal. Almost 100% of these offers are scams.  Just fund an exchange account then buy anonymously through an exchange like a pro. Be sure to record how much you spent as you may face taxes at some point.
Sorry. 

Always keep your private key under your exclusive control.
After you buy some BTC move it to a wallet (private key) under your control. Don't leave it online. If you like the convenience of online wallets then keep a minimal balance and store greater amounts off-line. In any case ALWAYS back up your wallet and store several copies off-line on various media. If you lose your wallet then no one on Earth can help you recover your money, no one.

Get the highest value on your coins by spending them.
It always baffles me how many people give up money to turn bitcoin back into local currencies. Why do that when you could spend it? You will save the fees/risks of selling your coins and many retailers offer a discount for using bitcoin. Once you have BTC you have money that works anywhere in the world. You can directly trade with millions of users using better money. That's why we buy it in the first place!
 

Market prices are not opinions, they are facts. 

I suggest that the OP:

A. Go back to school and learn about cryptography.
or
B. Stop using bitcoin as it is something he does not understand.

Thanks OP, but we don't need your help. We got this. 

Hi and welcome!
You may want to start by reading the white paper by Satoshi Nakamoto. All the discussions here are about this paper.

Link here: https://bitcoin.org/bitcoin.pdf

That's interesting. So it doesn't carry the same good fortune or is less personal than traditional cash? That makes sense. I suppose if you were already into bitcoin and considered it real money you might be fine with receiving it. But you may not give it to someone who is new to the concept. Thanks for responding!

When Mt. Gox fell on it's face it was not a surprise to everyone. We are talking about a site that was set up to trade magic the gathering cards, hence the name. When bitcoin exploded they found themselves trying to protect millions in assets. Something beyond their capability. It was not pressure from a government or a big bank. It was wild speculation, sometimes with bots, combined with low security.  It was just a matter of time.

Of course this has nothing to so with bitcoin. If your bank were robbed you would not blame the money that was taken.

Those are some of the key questions you need answered before investing.
You should only consider a business that is licensed in your country. You can see their license online in most U.S. states. That will include the name(s) of the operators. There should be a legally binding contract that spells out what all parties will do and how profits/losses will be handled.
If they don't have these things then it is simply not a business and you will have no options if they just decide to keep your money.  No one will be able to help you once this happens.

For sure. Last year over 10 million Yuan (nearly 1.5 million USD) was thought to have been gifted in crypto-currency via red envelopes.  I am just wondering if this is a growing idea in China.

Saturday, January 28, 2017 starts a new year in China. It will be a year of the rooster and, as is the custom, there will be gifts of red envelopes containing cash. Last year Chinese bitcoin enthusiasts were giving away envelopes that were actually paper wallets. I wonder if this trend is growing?

Are you Chinese by nationality or culture? Are you or friends giving away "red wallets" this new year? It seems such a natural fit, and it seems that BTC is growing in China. Or am I way off?