Bitcoin is much more than digital currency. Those who understand will not "cash out" or "taking profit"

I see a future where bitcoin blockchain is the infrastructure for all digital assets. Its the technology that make it possible.

We're the early adopters and we dont need "cash" to be wealthy!

All these "profit taking", "locking in profits" strategies never work and you will regret when btc trades at $1k

You've been warned.

please see my addendum regarding market liquidity on BTCchina to see what I mean by no liquidity at all.

its really like 100 $ lower than btchina

i don't get it. even if there is not enough buying power to raise the price, the sell orders should vanish and reflect the price of the other markets, right? why would anyone have a sell order for 501$ when the price is 580$ on gox and 600$ in china?

my theory is that the day of reckoning comes when a large group finally cashes out, which cause the unwinding of the above scenario in reverse - panic selling to get something, anything out of the coin you thought was priceless. But we shall see.

Even speculators and bots are to be counted as buy and hold forever types, because although they sell they ALWAYS buy back in again at a lower price (or a higher price if their trading is no good)

I actually think this is the best explanation of bitcoin price action I have come up with to date.

I don't think it's greed. He's had the chance to keep thousands of bitcoins before. I think he really just can't come online.

He's also stated he refused to go on this forum without being on his secure laptop or computer. He also does almost all (if not all) of his bitcoin transactions on an offline computer. Your coins aren't going to be stolen. (In fact, they just appreciate in value.)

Notice- federal reserve does not equal congress or any branch of the gov't

Underwhelming, I don't think that will move the market in any direction.

Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.

“Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee.

Moral of the story.  GET REAL!  There is no Bitcoin "adoption" because there is almost nothing to adopt.  You can barely use them.  Cash and debit cards are FAR superior to Bitcoin's, as it relates to making everyday transactions. The day may come where this is no longer true, but that day is not today, nor any day during this bubble inflation.  The is pure speculative buying.  People are simply looking to get a high ROI.  If you believe anything contrary to that, you are delusional and I would NEVER take advice from you because you simply do not live in reality.

You should write a treasure map with shady and mysterious instructions of how to get access to your bitcoin. That would be awesome 

An interesting thought struck me earlier - now that the majority of my personal wealth lies with bitcoin, what would be the best and most secure way of leaving them in a will?!?  If I were to get run over by a truck tomorrow, my coins would probably be lost.  None of my family or friends would have any idea what to do with paper wallets either 

I think the total bid depth on Gox is more surprising than the price.  Why is so much money flowing into Gox?  Not only are coin prices significantly higher on Gox, but it's practically impossible to get money back out.  I really don't get it.