What the hell is going on with the price?

[bitcool]

Total Bitcoin value =  Media-of-exchange-utilitarian-component + store-of-value-component.

The former can be calculated by number of transactions, the latter is a wildcard, largely depends on people's perceptions and confidence.

[cbeast]

I dunno. It kinda looks like Bitcoin is awakening.

[fcmatt]

So sad most of you don't know how to read charts, no bubble here move along or sell to buy higher.

What is funny is pretending you are a guru and can read a chart to reliably to predict the future price. If this was the case what in the fuck are you doing here on this forum and not fucking mad bitches on your private island due to making so much money with your elite chart reading skills?

Go on wall street and turn 10k into 1 million. Geez. Stop wasting time here. Just double your money seven times. Easy right!

This place is scary bullish right now. Soon will be thread again about how people will be bitcoin millionaires.

[n8rwJeTt8TrrLKPa55eU]

Total Bitcoin value =  Media-of-exchange-utilitarian-component + store-of-value-component.

The former can be calculated by number of transactions, the latter is a wildcard, largely depends on people's perceptions and confidence.

I think the latter is the clear driver behind this move, and it will continue as long as worldwide savings are under threat of debasement and confiscation.  The amount that has been pumped into the market cap, $50+ million over the past few weeks, with many single large orders buying up thousands of BTC in one go, indicates serious money taking up positions as opposed to individuals looking to buy a pair (or two) of alpaca socks.

[Serge]

I dunno. It kinda looks like Bitcoin is awakening.

It sure looks like it

[majamalu]

Total Bitcoin value =  Media-of-exchange-utilitarian-component + store-of-value-component.

The former can be calculated by number of transactions, the latter is a wildcard, largely depends on people's perceptions and confidence.

This ^^  I would add that an important factor is the fear of financial meltdown.

[adamstgBit]

I dunno. It kinda looks like Bitcoin is awakening.

It sure looks like it

what makes you think that?

sounds to me like you guys need your eyes checked...

[cbeast]

Now it's 12.17 the day the block reward halves. Must be a sign.

[TraderTimm]

So sad most of you don't know how to read charts, no bubble here move along or sell to buy higher.

Dopamine, I know... I know... I keep telling them to look at trendlines and just hang in there - there is no 'too high' when it is climbing a 45-degree slope with no closes below it. But I guess that is the difference between emotional trading and trying to be the least bit technical.

[notme]

So sad most of you don't know how to read charts, no bubble here move along or sell to buy higher.

What is funny is pretending you are a guru and can read a chart to reliably to predict the future price. If this was the case what in the fuck are you doing here on this forum and not fucking mad bitches on your private island due to making so much money with your elite chart reading skills?

Go on wall street and turn 10k into 1 million. Geez. Stop wasting time here. Just double your money seven times. Easy right!

This place is scary bullish right now. Soon will be thread again about how people will be bitcoin millionaires.

Wall street is rigged.  We have here in our little corner of the internet the only large scale free market in the world.  In a free market simple psychology and a healthy understanding of the slow moving fundamentals will take you places.  The only way to win on wall street is to already be king.

[deepceleron]

Total Bitcoin value =  Media-of-exchange-utilitarian-component + store-of-value-component.

The former can be calculated by number of transactions, the latter is a wildcard, largely depends on people's perceptions and confidence.

I think the latter is the clear driver behind this move, and it will continue as long as worldwide savings are under threat of debasement and confiscation.  The amount that has been pumped into the market cap, $50+ million over the past few weeks, with many single large orders buying up thousands of BTC in one go, indicates serious money taking up positions as opposed to individuals looking to buy a pair (or two) of alpaca socks.

There is not money "pumped into the market cap". You cannot value the seven million BTC that were not sold based on the trading of a few thousand. Certainly the price increasing from $5 to $10 doesn't mean that $35 million was invested into Bitcoin.

[finkleshnorts]

Total Bitcoin value =  Media-of-exchange-utilitarian-component + store-of-value-component.

The former can be calculated by number of transactions, the latter is a wildcard, largely depends on people's perceptions and confidence.

I think the latter is the clear driver behind this move, and it will continue as long as worldwide savings are under threat of debasement and confiscation.  The amount that has been pumped into the market cap, $50+ million over the past few weeks, with many single large orders buying up thousands of BTC in one go, indicates serious money taking up positions as opposed to individuals looking to buy a pair (or two) of alpaca socks.

There is not money "pumped into the market cap". You cannot value the seven million BTC that were not sold based on the trading of a few thousand. Certainly the price increasing from $5 to $10 doesn't mean that $35 million was invested into Bitcoin.

Didn't sound right to me either.

[Serge]

I dunno. It kinda looks like Bitcoin is awakening.

It sure looks like it

what makes you think that?

sounds to me like you guys need your eyes checked...

Adam, you should visit Press subforum, I don't know how you can't see what is happening out there in relation to Bitcoin.

here, i'll put some cliff notes for you what's going on recently: US and UK politicians discussing alt currencies mentioning Bitcoin in their respective capitals, VC initiates Bitcoin discussion on his blog, SR and Bitcoinica on mainstream internet media. Hell, even us-cert.gov & nist.gov released bitcoin vulnerability warning on their sites, yes it's for an outdated version, but nonetheless even they're keeping tabs on Bitcoin out of all places lol.  There is a rather large exposure of bitcoin to diverse circles of people out there, with no hype, people just talk more about it everywhere and many starting to take Bitcoin seriously.  

I think you can't accept it due to fact that with each passing day we are drifting further away from your buy-in target point. you didn't listen to anyone before we hit $10 and you still refuse to listen hoping a correction will come any moment now.

Now, tell me what am i missing that doesn't allow me to see time for correction due atm or soon?

[ruski]

So sad most of you don't know how to read charts, no bubble here move along or sell to buy higher.

+1

The other thing everybody seems to be forgetting regarding Bitcoin's value is scarcity. Movement this "slow" and with volume only marginally higher means that whoever needs BTC is just buying them at market price, only there's more of it being bought, and being in an uptrend, leaving your buy order a few cents below the ask means it's probably not getting filled and you're not getting whatever you wanted to buy.

More people using BTC, higher price. Almost as simple as that.

If you want to see a bubble, wait until the false walls are dropped! That'll be a bubble to remember.

[adamstgBit]

So sad most of you don't know how to read charts, no bubble here move along or sell to buy higher.

+1

The other thing everybody seems to be forgetting regarding Bitcoin's value is scarcity. Movement this "slow" and with volume only marginally higher means that whoever needs BTC is just buying them at market price, only there's more of it being bought, and being in an uptrend, leaving your buy order a few cents below the ask means it's probably not getting filled and you're not getting whatever you wanted to buy.

More people using BTC, higher price. Almost as simple as that.

If you want to see a bubble, wait until the false walls are dropped! That'll be a bubble to remember.

you bulls are out of control

[Serge]

nope, haven't even gotten to posting rockets yet

[ruski]

you bulls are out of control

stay in denial

[smoothie]

you bulls are out of control

stay in denial

^ LOL +1

[adamstgBit]

you bulls are out of control

stay in denial

^ LOL +1

damn did you buy back already?

[tynt]

Every time exchange rate rises I take out my calculator and and multiply amount of bitcoins I have, feels good