That's exactly my point. But it can only happen in a stable market.

Yeah, they had Goldman Sachs to help them 

Same as what the greeks wanted. Now they be working and sheit 

Greed is buying and selling speculatively, waiting for the price to go further. And since more of the traders are doing it with this in mind, it goes up. When their cash dries out, what do we do?

Well here it's a question of psychology- the terminal stages of a bubble are driven wholly by greed and unreal expectations. I myself have in the past made some really questionable investments in stocks in the last possible moment and regretted that I didn't get to know what I'm doing before I do it. I see many people in this position here today- they have great expectations, but as this market is driven by a finite supply of fiat which will eventually dry up- it's more than obvious that prices will fall. Some day they will shoot up again and so on...

It's new- yes.
It's got future- I couldn't agree more.
But some people should stop being greedy and look at how BTC can benefit them and the people around them in the long run. That way we'll get a stable currency and escape from the grips of government and greedy bankers.

As I have seen on many other markets, greed is the driving factor behind every bubble.
When will some people here see that it's their greed telling them that BTC will hit $1K by next week/month/year?

BTC is different from other markets in many ways, but it IS after all a MARKET- buy and sell.
I think that after greed and burst bubbles, comes the fundamentals and the real development of BTC. Does anyone agree with me?

That's a pretty serious bug and in some way connected to the current trends imo.

It's as if Soros and his cronies have come into the game... 

That's gonna be a pretty high price in a few days' time 

Yeah, what a shame 

The Dow Jones had a big rally in 2007. When the housing bubble burst, I saw a lot of broke and sad people. Some committed suicide...

But look on the bright side- bubbles come and go- DJ is again in the same levels as the beginning of 2007.

Bitcoin will burst, fall and then shoot up again way past $200.

Your greed sees in the short-term. Wisdom sees in the long run.

+1

I don't doubt that there will be several bubbles in the next few years and prices will reach in the thousands, but in the end, BTC is about stable exchange. It's not gold, it's a currency and people want to use it as such. And that's the fundamental thing here- most people who are in don't understand BTC. That's why there will be bubbles 

Bitcoin is due to reach full capacity in 2140.

Some people, I don't want to say most, in this forum are saying that there are fundamental reasons for this rise. They would be correct, if today were 08/04/2021 for example, but it ain't.

Corruption, looked at globally as a whole, is rampant in societies, where there are few real government regulations and controls and information is eschewed in different kinds of ways. That said, I think that less than 50% of the people involved with BTC in some way, actually know what BTC is and how it works. I see a lot of greed and where there is greed, there is corruption. I sure hope that BTC survives in the long run, if it doesn't- then I sure hope that its' successor(and one there will be) manages to overcome this greed and let people exchange freely.

Bitcoin ain't a snowball.

MtGox is a snowball. Who has control over them? Who believes the data that they release?

MtGox at the moment is not subject to any regulation or laws, which means that they can do whatever they want, and they sure are in something big, assisted by some greedy investors. They want to suck the stupid money into the scheme, take it and whatever happens with BTC- they don't give a damn. And all this is damaging BTC- right now I think that nobody is trading anything in BTC, due to the volatile market. And volatile markets lead to a loss in cofidence.

READ HISTORY!

In the past couple of days on MtGox we have trading volumes of around 40 000 BTC.

That's around $5.6 million being traded a day, if we take the avg. price of $140/BTC. It's not a lot of money from their perspective, but in the end, it's hard cash which they can earn. Saying that, this bubble could be at its beginning, or its' end.

Because if they get more and more people into BTC, if the stupid money comes along and BTC hits $1000, then we're talking big cash. Investment banking style.

So much greed here 

In the end, is anyone using BTC for anything other than speculating?

I think that if BTC survives after the bursting of this bubble, then it will truly become an alternative global currency.

If it doesn't- another digital currency will come along and pick up on the lessons learned.

With these prices, what good is Bitcoin? What can you use it for in such times of volatility?