I'd take that bet. How do you want to handle it?

[edit] Sorry for the double.

[edit2] I haven't heard anything, I guess the bet's off.

I'll take that bet. Let me know how you want to handle it.

I sold 2 bitcoins at $260 because I needed to buy a new suit. Am I a genius or what!?

Sorry if I caused the crash btw.

Depends on which side has more capital...

Newbies with their bitcoins vs enthusiasts with their dollars (or other currency)

My expectation is that the enthusiasts will buy all the available cheap bitcoins pretty quickly, and from there on, it will continue to rise again.

(I won't be involved in the trade either way)

Not to be a hater but I would strongly prefer a source that is not from Greece or Cyprus.

Boy, I sure remember my first Bitcoin crash. Sadly, these new ones don't evoke the same kinds of feelings any more

Anyway, as long as it isn't attributed to any major real life event (for example, MtGox seized, blockchain hacked, World War 3 etc.) then I don't see any reason to panic.

Site's back online. Most games are already on but you can still get in on the late NBA games. Baseball will be back tomorrow. Sorry for the trouble and hope things will go smoothly from now on.

I don't think that would make a lot of sense, it would be a mess and very difficult to maintain if the lines need to be adjusted. First games are starting soon, I'm gonna keep an eye on the host if they come back online soon, but right now it looks like it's taking some time and it might not be back until tomorrow.

Sorry for the trouble. Like I said, bets made prior are still on so no need to worry about those.

Yeah, server host is down. That's not good, but nothing I can do about it but wait for them to get it back online, hopefully before most of the games are starting. Have to think about getting a better host at some point.

There were plenty of bets made prior the site going down, those bets are fine and will be honored as usual.

Thanks for sharing.

It is a fact that Bitcoin will reach it's peak at some point. As you mentioned, this will likely happen when the last bear has bought his bitcoins, and from there the price will go down. We don't know if it will come down a bit or a lot, but it almost certainly won't go to 0.

That moment is still very far away, most people still don't know what Bitcoin is. My friends, who are young, educated people, don't know what it is. So it will take years, maybe decades, until the last bears get into the action, and at that time the price might be who knows how high. At that time there will hopefully be plenty of places where one can spend bitcoins, so it will be much more than just a speculative currency.

One point to make is that the dotcom crash was mostly just the United States. Bitcoin is global, so there are much more people, many more bears, still waiting.

Don't worry, once 1 satoshi is $1 it will all be real simple again 

Seriously, I doubt that it'll ever be at 10k$.

It will stop when people will say "no, I will not pay that much for a bitcoin".

If you look at the iPhone or the Galaxy S, they're pretty much at fixed prices all the way until a new model comes out, and I suppose so are the iPads etc. Mobile phones are starting to be so powerful and versatile that they don't really need much in the way of new features any more.

Now, people are still going to spend money on a nice phone even if it's not absolutely necessary, but hopefully they will stop to think for a moment if it really makes sense to buy a new phone every year. This can only be a good thing, even if those companies would make less of a profit that way.

Yeah rare day off from the NBA, but still lots of work in other leagues. I had never realized that there are so many baseball games every day!


Glad you mentioned it, but I wonder if there were delays in the network? I made the payments 7+ hours ago... Maybe I need to increase the fee?

[edit] Well according to my Bitcoin client they were all confirmed ages ago, about 50 confirmations each right now. Maybe if you use an online wallet, they might have been having delays there.

I doubt that the $200 mark will get as much coverage as the $100 mark passed a while ago. I would assume the next big milestone to be $500, or maybe $250.

No, $1 billion is not exactly small money to anyone. I don't think banks would want to spend that much of their own money on something that might not even work - they'd all wait for the other bank to pick up the bill. Governments, maybe, could do that.

And what would happen? People would just buy those cheap bitcoins in a matter of minutes, and people will go about their business, looking back that "some idiot just sold 1 billion worth of bitcoins for pennies".

$138? Funny how that article is already so out of date...

Good thing Financial Times were telling their readers not to buy when it was at such a low level

You want people on the internet to give you investment advice (for free!) so that you can blame someone else if something goes wrong. Sorry, that's not how it works, you'll have to make your decisions yourself.

If you still insist otherwise, I'll make a deal with you: Tell me how much money you have and I'll tell you a couple of things that you can invest in.

Even if it's not a scam, you should never give your money to a company that operates with such incompetence and unethical behaviour. You're guaranteed to get burned one way or the other.

I'd like to buy some ASICs , but I've now accepted that there are none available to buy and no amount of wishful thinking is going to change that (any time soon).

Oh cool, a brand new explanation. Yes, the word "before" in "before April 1st" is quite ambiguous and should have been defined better.