This is definitely starting to feel like blood in the streets. Which reminds me of a saying...

You be the judge.

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=1

I bought 20 yesterday at $390 a piece - seemed like the right thing to do. :-) All my fiat is gone now. Gogogo!

LOL wat?

Bummer that they've already bought the coins they need and the market wasn't affected.

I like this theory! So you figure the cost is in the $300's somewhere for the more efficient mining setups?

Why would anyone be "excited" about this ETF when Bitcoin has dropped over 50% of it's value since the beginning of the year? Now if it becomes available around the same time that we break this losing streak, then things could get crazy quick, but right now it wouldn't be looking like a very good investment to anyone IMHO.

Why haven't they banned his IP address(es)? Most forums wouldn't put up with his $ht.

Then perhaps we should talk about what Bitcoin can do to "drop the stylus" and become the sexy, new color touchscreen of money! We are a long ways away from that right now, unfortunately.

It's nice to compare Bitcoin to things like smart phones and the internet, but in the case of Bitcoin I just don't see that strong of an incentive to adopt it. Not saying it won't grow, but to compare it to the 100% adoption of things that people love and make their lives better, the incentive just isn't there.

Not so fearless. :-)

In for some peppermint bonbon... Yum! Tasty profits!

Just a couple of thousand more then - not bad.

Encrypted paper wallet. Spread it around. No worries.

I was enjoying this thread until people started getting...uh...paranoid. Or maybe it's one big level.

Yeah - I think the market might have done something if you bought 5000 coins. :-)

After a bunch of research, this is what I am doing for my little bit of coin:

Go to https://www.bitaddress.org/ and create a BIP38-encrypted wallet - then you don't have to worry so much about hiding the wallet. Just don't forget/lose your password!

Creating and loading the wallet -

1) Save to my HD the bitaddress.org URL for generating BIP-38 encrypted paper wallets.
2) Create a LINUX LiveCD for booting from a flash drive for a fresh, offline OS.
3) Disconnect computer from the internet, boot into LiveCD, and generate my encrypted paper wallet via the bitaddress.ord URL (running standalone). You can print a bunch of different wallets off at once onto a sheet or two of paper. Then you can have all your coins in the first one, and when you spend some you move the "change" to the next one down the list.
4) Save the wallet off as a PDF and also print multiple copies. Since it's encrypted, I can have a few copies and keep them multiple places and the PDF will also be available if the paper fades or is destroyed.
5) Reboot regular OS and head out to the exchange.
7) Send my bitcoin to the public key of my paper wallet, starting with a small amount and confirming it got there via blockchain.info.

Getting bitcoin back out of the wallet -

1) Using the block chain app on my android tablet, scan the encrypted private key of the paper wallet (I could also use the bitaddress.org code offline to decrypt it manually also).
2) The app will ask for the key I used to BIP-38 encrypt the private key - type in the password used to encrypt it and the wallet's bitcoin will be accessable.
3) Sweep the wallet into my blockchain online wallet.
4) Send any bitcoin that I don't want to keep online into the next wallet in the list.

This is really easy, foolproof as long as you use a password you will never lose/forget, and it doesn't depend at all on USB sticks or other tech to store the wallet. And you can give copies to friends/family without worry since it is useless without a password. Just make sure your password is fairly sizable so brute force can't crack it.

Or really really wrong.

Time to add another person to the "I don't understand decimals" club.  

Currently Bitcoin is the equivalent of the US dollar in cryptocurrency. No one is buying up pesos because the dollar is too expensive - think about it. Yeah, the dollar has its problems, but it's still the most valued and respected currency in the world. As is Bitcoin in the crypto world.

And regarding the select wealthy few, they will have sold LONG before it gets to 3.5 million. You see anyone from the gold rush era holding on to their 1000's of lbs of gold to this day? Nope. Everything has a price, and when it's met it gets sold.

If the price is $620 now, what is "an order of magnitude"?