When will this bubble pop?

[dopamine]

Learn to read charts people we just had a break out next resistance is 14.

[conspirosphere.tk]

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

[pyromaniac]

There is two ways of current situation:
1. Bubble will pop after raising around 17 BTC then goes down to 1.99
1. Bubble will not pop and the price goes to 30 and up.

may I rent your crystal balls some time? (no pun intended)

Sure I haven't crystal ball, it's just a humble opinion.   https://bitcointalk.org/index.php?topic=100562.0

[adamstgBit]

If history repeats itself, there will be a 100% increase in a very short period, then the bubble pops.

Last time it was a 3800% increase in 2 months.

this will not happen,

this only happened because people were thinking this was it, bitcoin was going to take over.

no one is that naive anymore....

as long as people with money believe that, i am ok 

No one believes that

whats driving up the price is the thought that, as long as bitcoin continues to grow and improve, everyone holding will continue to hold,  no matter what the price....

we see no sign that bitcoin will ever stop growing, so....

[adamstgBit]

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

yes this is one issue that, if not solved. could kill bitcoin...

the buying of drugs online using bitcoin will continue. but people will stop believing it will ever be anything more

[pyromaniac]

If history repeats itself, there will be a 100% increase in a very short period, then the bubble pops.

Last time it was a 3800% increase in 2 months.

this will not happen,

this only happened because people were thinking this was it, bitcoin was going to take over.

no one is that naive anymore....

as long as people with money believe that, i am ok 

No one believes that

whats driving up the price is the thought that, as long as bitcoin continues to grow and improve, everyone holding will continue to hold,  no matter what the price....

we see no sign that bitcoin will ever stop growing, so....

The problem is nobody knows and haven't any signs. Dump will be sudden and dramatic.

[Serge]

The problem is nobody knows and haven't any signs. Dump will be sudden and dramatic.

At this point it depends whether demand winds down or not

[cheat_2_win]

There is a huge amount of buy orders stacked up, if someone want to dump the price bellow 9 dollars they will probably need more than 15% of the generated coins. If this is a bubble then it's hard to see how it can do any major damage at this stage unless it keeps building to over $20 and causes a panic.

Are you sure? 15% of the generated coins is more than 1 million.

[yochdog]

There is a huge amount of buy orders stacked up, if someone want to dump the price bellow 9 dollars they will probably need more than 15% of the generated coins. If this is a bubble then it's hard to see how it can do any major damage at this stage unless it keeps building to over $20 and causes a panic.

To dump it below $9 would take less than 75,000 BTC on MTgox.

Look closer next time. 

[kentrolla]

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

yes this is one issue that, if not solved. could kill bitcoin...

the buying of drugs online using bitcoin will continue. but people will stop believing it will ever be anything more

plz elaborate on this issue.  Are you saying that if bitcoin got too big it wouldn't work?

[anu]

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

It would take a bit more that that to hold it there. It'll just bounce back.

[yochdog]

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

It would take a bit more that that to hold it there. It'll just bounce back.

LOL.  sure it would. 

Instantly I'm sure. 

[yochdog]

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

yes this is one issue that, if not solved. could kill bitcoin...

the buying of drugs online using bitcoin will continue. but people will stop believing it will ever be anything more

plz elaborate on this issue.  Are you saying that if bitcoin got too big it wouldn't work?

The entire blockchain is approaching 2 GB rapidly and accelerating.  This will pose a problem down the road as just downloading the blockchain will take days. 

[kentrolla]

When are we going to see the price settle back down for a brief interval before resuming its inexorable upward plod?

When s/t bad happens (like Gox). e.g. Pirate vanish.
Then BTC would be famous as the only money backed by drugs and ponzis. (Not that I would not invest any more in it)

Or when ppl figures out that the blockchain growth is not practical and/or cannot sustain a serious traffic of Tx.

yes this is one issue that, if not solved. could kill bitcoin...

the buying of drugs online using bitcoin will continue. but people will stop believing it will ever be anything more

plz elaborate on this issue.  Are you saying that if bitcoin got too big it wouldn't work?

The entire blockchain is approaching 2 GB rapidly and accelerating.  This will pose a problem down the road as just downloading the blockchain will take days. 

isn't the solution to this just having online wallets? it's my understanding that blockchain.info doesn't have access to your wallet and even if the website went offline you would still have access to your coins.  Whats the downside to online wallets if this is true?  Do you have to download the blockchain to get your coins if they go offline?

[proudhon]

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

Where are you getting your data?  This shows that it would take ~97,000 BTC to drop the price $8.  300k BTCs would push the price all the way down to $1.15.

[yochdog]

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

Where are you getting your data?  This shows that it would take ~97,000 BTC to drop the price $8.  300k BTCs would push the price all the way down to $1.15.

People want to pretend there is more demand than there really is. 

[kentrolla]

I'm a fair bit out but it would take just under 300k BTC to drop gox to $8 on the USD, Euro and GBP exchanges, about 3% of total coins.

Where are you getting your data?  This shows that it would take ~97,000 BTC to drop the price $8.  300k BTCs would push the price all the way down to $1.15.

People want to pretend there is more demand than there really is.  

I think hes adding up all the different markets to get his 300k figure.

yea, if you sold 300k btc's all on the mtgox/USD market then it would go to 1.15.  why would someone do that when they could sell in a lot of different currencies and get a lot more money out of them?

i think you guys are assuming that the mtgox/USD depth is all that's there.

[Kupsi]

yea, if you sold 300k btc's all on the mtgox/USD market then it would go to 1.15.  why would someone do that when they could sell in a lot of different currencies and get a lot more money out of them?

i think you guys are assuming that the mtgox/USD depth is all that's there.

It's the same bid orders converted to different currencies.

[Piper67]

The entire blockchain is approaching 2 GB rapidly and accelerating.  This will pose a problem down the road as just downloading the blockchain will take days. 

This is not really an issue.

https://bitcointalk.org/index.php?topic=99742.msg1093235#msg1093235

Besides, there are many fantastic alternative clients that don't require a full node. I assume only miners and Bitcoin enthusiasts will run a full node in the future anyway.

Yup, nothing stopping you from just running a client in the background. 2 gig? No big whoop, really.

[yochdog]

The entire blockchain is approaching 2 GB rapidly and accelerating.  This will pose a problem down the road as just downloading the blockchain will take days. 

This is not really an issue.

https://bitcointalk.org/index.php?topic=99742.msg1093235#msg1093235

Besides, there are many fantastic alternative clients that don't require a full node. I assume only miners and Bitcoin enthusiasts will run a full node in the future anyway.

Yup, nothing stopping you from just running a client in the background. 2 gig? No big whoop, really.

2 GB now.....the growth rate is accelerating and will be much, much larger in a year.