Divisibility is not really a tie -- I doubt I could cut a Maple Leaf in half with a chisel and sell the halves as easily as the whole.  Also gold has too much value to carry small payments easily -- the dusting of gold would be too easily lost.  And in practice the minimum value transfer amount is some function of the cost to validate that the gold is not counterfeit.

I tell people this:
Human technological progress is the story of tools that progress from the use of natural substances with desirable (and undesirable) properties to engineered solutions highly optimized to the problem. The stone axe becomes the bronze then steel axe and finally the chainsaw.

Gold/silver is the natural substance that best meets the properties of ideal money. Fiat currencies are engineered as perfect money but are unsound because they have no guaranteed scarcity. Bitcoin is the first engineered sound money, with the best properties of scarcity, divisibility, portability, transferability, and verifiability of any known currency. 

Just eyeballing it, there's about 7 million dollars worth of coins for sale on ALL the major exchanges.  Things could get pretty crazy really quick... hopefully buyers will hold back waiting for the chimeric "dump" and we'll see not-entirely-irrational price appreciation.

I think your mistake was to pick a bottom.  You should buy on the way down and then the rest in the bottom quarter (say) of the bounce back up because you can never be sure that your chosen bottom is THE bottom.  If you sold some in April at 230 (say) and then bought back at 190, 150, 100, 75, 67 and then 80, was that 190 buy really bad? 

What could be wrong with getting back into your BTC position with an extra 40 bucks per coin left over!  Seems to me like you made a good trade, assuming you believe in the fundamentals. 

Of course the other buys were better, but they would not have existed if the bounce had happened at 180...

You'll want to use the exciting science of reverse imputation.  This complex mathematical technique uses the desired solution to inform the chosen imputation algorithm and data-source weighting coefficients.     Come on, get with its GUARANTEED to make Bitcoin look awesome!  We know this from seeing the CPI numbers.

This is not surprising, as its essentially ATH resistance.  $23x was the highest plateau -- the move to 266 and back down was an intra-day jag with little volume or trading time opportunity.  It was the 230s where lots of ppl bought in.   I think once we break into the 240s we'll move past the ATH without out much volatility.

40 bagger deserves some celebration. ...

Why buy a laptop? Because if you wait a year it would be a lot more powerful, touchscreen, better camera etc for cheaper.  There comes a time when people need to buy stuff almost regardless of future price performance.  And of course some people are always thinking we are near the top.  And also the price isn't going to keep rising like this forever.  It'll flatten out eventually and at that time exchange of BTC we become more common.

But what you've mentioned is the achilles heel of a "sound" currency.  It is theorized that during recessions/depressions people tend to hoard it, spending as little as possible -- saving it in case the recession continues.  This creates a negative feedback of reduced consumption -> fewer jobs -> more reduced consumption.  But on the other hand, in this highly populous, resource limited world careful consumption might be better in the long run than triggering growth that is not connected to greater underlying resource efficiency.

40X!!!    

Just in case newbies to this thread do not understand, this posting periodically compares the buying power of gold vs. bitcoin if you had bought one vs the other in March 2012.  

For example, you had bought $1000 in gold on that date, you'd have a bit more than a half ounce worth around $780 today.  If you had bought bitcoin, you would have 185 coins worth 35 THOUSAND bucks!!!

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 192.11 (177.44 btcChina in USD).  Gold is 1318.00.  Nasdaq is 3922.00
Bitcoin: 3457.59% (3185.93%)
Gold:    -22.01%
Nasdaq:  28.38%
Gold Diff:   4462% advantage Bitcoin
Nasdaq Diff:  2671% advantage Bitcoin
4561.708256055753

Good luck with that.  Maybe you'll be able to catch the dip around CNY 1500... 

so sorry 4 u.  gox is not btc.  usa is not btc.  broaden your horizons and take adv. of any dip you see.

90 not so much esp. on gox but 165 to 175 could be a buyer hoping for a dump.  but if s/he sees momentum building this b8d could become a mkt order...

I would appreciate being removed from the first post since I am unconvinced at the methodology or accuracy of these assessments.  Thx!

I was hoping to wait for > $166 but I guess I'll just do another.  So here we go!

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 164.49 (148.56 btcChina in USD).  Gold is 1317.00.  Nasdaq is 3894.00
Bitcoin: 2946.11% (2651.14%)
Gold:    -22.07%
Nasdaq:  27.46%
Gold Diff:  3809% advantage Bitcoin
Nasdaq Diff:  2290% advantage Bitcoin

As evil as high inflation is, it is not an unexpected event given past history in any fiat currency that has a history.  But a tax on assets breaks the whole concept of private property.

I haven't read the report yet (I plan to) but from the quotes it seems like the report is entirely forgetting the most important thing which is that the feedback loop that rewards success and punishes failure must be preserved.

This was my issue with Cyprus bank bail-ins vs. bankruptcy.  It is not sufficiently disruptive to cause people (or their intellectual successors -- in other words a whole culture) to be fired.  Let's compare the Cyprus disaster with Detroit bankruptcy.  In Detroit we have:

www.cbsnews.com/8301-201_162-57606936/kwame-kilpatrick-former-detroit-mayor-sentenced-to-28-years-in-prison-for-corruption/

"...the sweeping federal probe that has led to the convictions of more than 30 people."

A government "default" (or perhaps better stated as "repealing unfunded entitlement promises") and/or high inflation (which points directly at the government) will cause a shift to fiscal responsibility, if anything will.  I think we as a society need to learn an important lesson which is essentially that NO promise or fund is safe from subsequent politicians if there is any legal way it can be accessed.  Programs like social security, teacher's retirement funds, etc need to be legally and administratively separate (and even that may not be enough, but at least it is worth a try).  And all Ponzi systems -- that is, any unfunded promise that expects to be funded by future labor or taxes -- should be not legally binding.

Great! Thx I should have asked you guys a long time ago...

Yes but at the same time, a high constant fee is a good way to lock "most" people out but keep it legal for you and your pals (provided you are rich or funded by the rich).  

For example, from reading these forums I learned the term "dollar denominated account" a few months ago.  So I googled around found just one bank (UBS) that offered foreign currency denominated accounts.  I thought it might be a good idea to diversify a bit into euros, yuan, etc.  Called them up -- not going to happen unless I was going to deposit > 1 million USD.  Too much overhead and paperwork...

Ironically, there's a trick that lets you do it in a small way with the company we love-to-hate: Paypal.  If someone sends you money you can choose to hold it in the currency it was sent...

X 

OK YMMV...I didn't make a study out of it.  But I gather all banks have an ABA number (domestic) but that is not a SWIFT (international) number.  I did get turned away from a couple of smaller CUs and banks so finally I sucked it up and went with BAC.  I was getting paid by a major European luxury automobile company for work on their prototype cars so it was not an issue of ignorance on their end.  In fact, about 6 months later they opened a US bank account and notified me that wires could now be domestic (and I'm 100% positive they did not do that just for my business!!! :-).

funny, I just wrote a rambling projection on how international B2B is the next killer app for bitcoin (now that China is ramping up). https://bitcointalk.org/index.php?topic=311495.msg3351398#msg3351398

Even a year ago it was difficult to receive international wires b/c there is a different USA-only wire system.  Credit unions and regional banks do not get a SWIFT number...  I had to actually GO to a physical room inconveniently located an entire 5 minute drive from my house, fill out forms ON PAPER, and actually TALK DIRECTLY to another living breathing smiling human being to open an account that would accept international wires. :-)  But seriously -- the real issue is that it had to be with one of the big names whose business model is to basically drain your funds with fees, etc.  For example, if I don't do at least 1 txn a month in the account there is a fee.

Joking aside, bitcoin is awesome at medium international xfer. Small can be done with paypal, large with a wire.  The sweet spot IMO is 500-5000 USD.

You are ignorant if you think the BRICs are economically backwards.  There is a lot of concentrated wealth and also a lot of concentrated poverty in these nations.  But just for clarity I did start to wince when the OP suggested the exponential was going to continue to 1 trillion.  My gut tells me the S will inflect FAR before that point.  Regardless, thx for reading my post!