Adam has had a Damascene conversion...



..and joined the herd of bulls.

I hear you - but it won't happen. BTC belongs to Bhutan. They have a minor currency unit beginning "C" so they are probably already using BTC internally in some of their systems!

Bitcoin needs a strategy to head off a future attack by central banks. Sticking with BTC as a first and last resort is like trying to swim the East River wearing concrete boots. It is not a smart strategy.

!st support is at $36.50, 2nd is at $34,50
 IMHO, good places for buy orders, but not near $39

We are coming up to $38 and the "wall" is a 108 btc housebrick.

Is that likely to be the lowest wall ever seen at a round number?  The sellers are just not prepared to let go of their bitcoins for fear of having sold too soon. This means Bitcoin could hold the present high.  All along I expect a bull-peak when the price is firmly kicked down a few dollars. That means lots of selling pressure waiting (and we are not seeing it yet).

Bought too much Bitcoin

Check out this chart of daily transaction fees:

https://blockchain.info/charts/transaction-fees-usd?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

Do we really need to force any more price competition right now? Why not let this level out and then decide whether fees are high enough?

$100 during Q2

It's not on the blockchain

Unrecognized search pattern

You may enter a block height, address, block hash, transaction hash, hash160, or ipv4 address..
SdetXOREi5xXrlaXj2348fg


(fill in the missing letter!)
Samuel Wolf = Sh*t-stirrer

Yep. He'll take that 10 btc and tank gox to 50 cents...

When I looked at the potential for Bitcoin on Jan 1st this year I took the 288% gain in 2012 and came up with a rough target price of $50, if similar gains were seen (which is as good a method of approximation as any).

However, it looks like $50 could be hit early in Q2 2013, which is staggering even by last year's super performance. Is it sustainable? Well, we will have fun finding out!

This is really the headline of the century:

http://thenextweb.com/insider/2013/02/21/after-employees-opt-to-be-paid-in-bitcoin-the-internet-archive-asks-for-donations-in-the-digital-currency/

People asking NOT to be paid in the most powerful currency in the history of the world.  Talk about a sea-change happening...

Yipee! Well done! Thanks so much for responding. 

Indeed. Even the EU country code which makes EUR a valid currency code was reluctantly assigned as an "exceptional code" and the EU represents over 500 million people!

http://en.wikipedia.org/wiki/ISO_3166-1_alpha-2#Current_codes

The path of least resistance is with an unused X-code...

Country code "BI" identifies the African state of Burundi, which means BIA through BIZ currency codes are reserved for them. It represents the same problem as Bhutan.

X-codes are for any worldwide currency, not just precious metals, although in practice PMs are the main type of these.

Wow. Thanks for the fast feedback on this!
I do think this is very important as it is a pawn takes queen quality move in the chess game with central banks...

Bitcoin needs an officially recognized currency code to get traction as a valid investment available within mainstream finance. Major benefits would result, which include an even stronger fx rate and a much harder target for central banks to try to kill off.

BTC is fine for an unofficial code, and it may become official if Bhutan registers it on Bitcoin's behalf. This will not be easy, but is do-able in theory. Further investigation shows their minor currency unit is the Chhertum, which means they are very unlikely to give up BTC.

Because Bitcoin is a world currency ideally it should have an X-code to reflect this.
Consider existing ones: XAG (Silver), XAU (Gold), XPD (Palladium) XPT (Platinum). If Bitcoin is "virtual gold" then it needs a code like the other precious metals.

Mainstream financial systems expect to settle with a valid ISO code, and would want to use it in the API with Mt Gox and other exchanges. BTC can run alongside an x-code, because two codes could be treated as valid for Bitcoin, although only the X-code would facilitate inter-system settlement. Ripple are further down the mainstream road in this respect as they have XRP defined which could be forced upon the standards authorities through pressure of widespread usage.

The poll above supports up to three votes per person, so a better ranked list can result, which is ideal as an official letter (from the Bitcoin Foundation perhaps) could offer several alternative codes to the standards authorities.

Background reading:

http://www.xe.com/iso4217.php

Campaign for XBT. A new ISO Currency Code is required for Bitcoin
https://bitcointalk.org/index.php?topic=148229.0

X-ISO4217-A3 (revised draft) Published
https://bitcointalk.org/index.php?topic=127604.0

There is no part of the establishment which wants kill Bitcoin - yet. Only the ECB and Fed are probably aware of its potential. and they are still mulling over a response. 99.9% of the mainstream establishment in the financial markets have a totally different view: make as much money as humanly possible in the shortest time!

This means 99.9% of the establishment would throw their grandmother under a bus to get a piece of Bitcoin action, if and when it really takes off (and I am thinking $100+ fx rate).  We need to give them this chance as it helps cement Bitcoin before central banks can act against it.

The problem for Bitcoin is that it needs an ISO code to get loaded into existing trading systems as an instrument for investment. Not having one is a monumentally serious handicap, making Bitcoin as fringe as North Korea Telecom.

BTC is fine for informal Joe Doe use, but this is nowhere near enough.

So, by that logic the increase in the price of gold from $450 to $1700 in the last decade is a large bunch of noobs getting slowly sucked into an expensive "bubbly" dubious investment, exchangeable only for cash...

cruel, but funny!