The price is hovering around 50% of the all time high on bitstamp.

Surely I cannot be the only person who has noticed the surge in company adoption of bitcoin in the last few months. Huge online players are accepting bitcoin this year.

I would be amazed if all significant e-retailers who have not publicly announced they are to accept bitcoin have not privately integrated it into their systems. The benefits are obvious - basically a no brainer, especially for the titanic e-retailers like amazon who have razor thin margins.

A few points strike me about these recent moves by silicon valley occuring in the shadow of the last bubble.

1) these companies are big enough to have political connections and clout (i see a real battle (of the lobbyists) in the US between the banking sector and silicon valley in the coming years as the financial sector is increasingly disrupted)

2) my brother said to me last weekend, why would i buy bitcoin, i cant use it. Wrong. Utility has arrived.

3) i think the usual bearish argument of (multibillion dollar) company adoption = price negative due to immediate conversion back to fiat may well be correct in the very short term. But a much stronger medium term effect is joe public seeing 'bitcoin accepted here'  appearing whenever they buy anything online in the next two years. A pizza, a pc, some towels whatever. The point is that bitcoin is no longer a joke currency but is being legitimised right now. All the people writing bs comments under every article appearing online on MSM sites are going to go awfully quiet as this process rapidly continues worldwide.

4) The price must rise if the currency is to be used globally, especially by titans like amazon. And it must rise a lot.

It is simple to me, limited number of coins versus a growing number of purchasers trying to get in.

The bears on here say where is the money coming from to drive the next bubble. I say: the very same place it has on every previous bubble - joe public. Remember only 100,000 people have more than ten coins out of a population of 7,000,000,000. Don't underestimate the thirst of the great unwashed to try to grow wealth and buy into bubbles (see gold late 1970's, south sea bubble etc..). Every single person on here felt their head spin when they first learnt about the properties of bitcoin - there are many further successively larger waves of people who will follow in our footsteps.

Barring disaster it seems logical that bitcoin ('bit gold' eh Nick Szabo) is likely to become a modern day gold rush across the world in the next 1-3 years. I think the china bubble was simply a taste of what is likely coming down the line.

Timing the next blast off I will leave to luckier people. All I know is that I am positioned for the next move up and I am prepared to wait until it does.

Potential triggers for me are likely to revolve around US investment houses frontrunning the US investing public into bitcoin. The upcoming bitcoin auction by US gov is likely first step, SEC approving an ETF will probably be second (price will front run this no doubt). Wall street already know the strengths and weaknesses of bitcoin and could easily take the price 10x higher whenever they like.

I hope you are ready  

"This user is currently ignored."

I will be doing my monthly purchase tomorrow.

Now I remember why you were on ignore. *click*

Price is already 607 on stamp. It seems common sense that the US auctioning 30k coins privately won't have any meaningful effect on the price.

Precisely. Bear FUD poster posts bearish commentary. Can we get some slightly less obvious trolls in here please?

I am happy to be corrected, but your last few predictions were not exactly prophetic.

We may wobble up and down a bit before the next move but day traders really cannot see the wood for the trees!

Rubbish. If the price of a BTC has risen 50x in a year then clearly expecting the same trading volume in BTC is ridiculous.

You are aware that the price of BTC is massively higher now than it was last year. USD volume is the only relevant metric, and that is spread across all exchanges rather than concentrated on Mt Gox only.

A little perspective here people. The price doubled in a month. One slight pullback in the midst of massive internet company side adoption and it is bear central here.

Hilarious how twitchy you all are.

I wish I could see the future with your clarity!

Fantastic point.

Yes when he admitted he only held ~13 btc I remember thinking , "why bother?".

Mat you are churning in and out of btc so often you are bound to lose. You must recognise that where the price goes from here short term is simply a guess, a toss of a coin, which incidentally you just have to react to.

The market cannot be predicted with a chart or TA by you in a way which will deliver consistent returns or more importantly beat a buy and hold position.

Just imagine how more productively you could have spent your time if you had bought, held and simply .. waited for time to pass!

If I were you I would buy back in, wait a year for btc to do its thing, then play wall st trader with a fraction of your gains. Yes it is still gambling that the bull market will continue, but you must have a a belief in bitcoin to still be here right?

Either way keep us informed

A pause in prices and its time for you to FUD you mean?

Boredom before we move up again is no bad thing. Once the price moves back up towards 800 we are off to the races. The price was ludicrously oversold with the bear fud rubbish permeating everywhere. Not surprising after doubling that bitcoin will wait and draw breath before launching

Party pooper! The man who made the thread is buying a round.

If they are still going around: 19cvuCCHrr5TQv6mtDwxJz711BVZ9XuPke

Just need someone to do a 1500 coin market order on stamp to ruin the bear action

Its not over yet Mat. It could easily move back up.

Its 1500 back to 605 on stamp and around the same to get back up to 680. Thin market.

As long as we keep a 6 in front of things then this weekend has been a nice move up.

I am wondering if you bought back in Mat.