When will this bubble pop?

[kentrolla]

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.

this is news to me.

[Technomage]

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

This prediction assumes that nothing is done to fix the scaling issues. As far as I know this is one of the priorities for the development team.

[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.

this is news to me.

The good news is that there's also less coins for sale than it appears 

[bitcon]

last time the bubble popped because many ppl lost faith due to the "goxing" that occurred.   If none of the major exchanges get hacked again we could see it reach $20 - $30 again very soon and even achieve stability at those prices..

[SkRRJyTC]

No bubble here so no popping either... but I am selling some at these levels as we are in dire need of a pullback.  The technical are maxed out on every time scale from what I can see and its going to be more profitable to be a bear for the next couple days/weeks I think.

[yochdog]

No bubble here so no popping either... but I am selling some at these levels as we are in dire need of a pullback.  The technical are maxed out on every time scale from what I can see and its going to be more profitable to be a bear for the next couple days/weeks I think.

I would not be suprised to see a pullback to 10-ish or so.....but not much more than that. 

[finkleshnorts]

last time the bubble popped because many ppl lost faith due to the "goxing" that occurred.   If none of the major exchanges get hacked again we could see it reach $20 - $30 again very soon and even achieve stability at those prices..

Not really IMO. The $30 dollar coin last year would have drastically popped regardless. It might have continued for longer if the goxing didn't occur.

[Vladimir]

What you see is bitcoins flowing from weak hands to strong hands. It can keep going on for long time, until it stops for a while.

[finkleshnorts]

What you see is bitcoins flowing from weak hands to strong hands. It can keep going on for long time, until it stops for a while.

Sounds about right.

[waspoza]

What you see is bitcoins flowing from weak hands to strong hands. It can keep going on for long time, until it stops for a while.

+1000 They aint gonna get my coins anytime soon.

[molecular]

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

just hold. bitcoin can only go up up up!

[bitcon]

i'm glad i got out at $3.    whew.

[calian]

What you see is bitcoins flowing from weak hands to strong hands. It can keep going on for long time, until it stops for a while.

+1000 They aint gonna get my coins anytime soon.

Yeah, I want a few more zeros on the price here.

[axus]

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

just hold. bitcoin can only go up up up!

Bitcoin prices can only go up.  Bitcoin will continue it's inexorable %10 weekly rise.  Anyone who buys now, will be billionaires.  Those who don't, will be stuck with worthless fiat currency and live in tents.
</sarcasm>

Accelerating growth is the sign of a bubble.  It will keep accelerating until it's too fast, then pop.  When I said 100% rise in a short period, I meant a weekend or a day.
</speculation>

[Raize]

Maybe gox translates the bids across all the currencies and 100k is the total, it doesn't make much sense that Japan has about the same value of bids as US.

I guess I always assumed this was correct, Gox just does currency conversion as needed, the demand side is still the same pressure. Don't quote me on this though. In fact, if more Americans are selling Bitcoins for US cash than someone is buying in another currency it would entirely explain the problems Gox is having getting cash to customers.

[unclescrooge]

it's not a bubble because it's a very controlled growth. But  as people see it grow so regurlarly, groth will keep accelerating until ... I don't know until when, but I don't think there will be some major draw back.

Of course there can be some serious player coming in, and then we look at several folds increase in a short time, and stabilisation at a far higher price. Considering the potential I see it as possible.

What you see is bitcoins flowing from weak hands to strong hands. It can keep going on for long time, until it stops for a while.

+1

By the way, are you still working on a paypal-like system for bitcoin? (sorry if you don't want to talk about it)

[SkRRJyTC]

No bubble here so no popping either... but I am selling some at these levels as we are in dire need of a pullback.  The technical are maxed out on every time scale from what I can see and its going to be more profitable to be a bear for the next couple days/weeks I think.

Well with last nights spikes my trading funds are now all USD... Nice daily doji candle could turn into red volume very easily... daily slow stoch has crossed down. 

I say the top is in.

[ElectricMucus]

Interesting thing, I am glad I stayed out of this.

It's nice to see how certain people shift in their statements over the time. Makes me more confident to read up on how to implement a bot.  
This is to me: I'd never make a single trade till I got something working, that should hopefully motivate myself.

[niko]

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. 

So will my hard drive.

[conspirosphere.tk]

There is even the chance that the whole world economy "pops" at once before the BTC price. Anyway the banksters have the same expectations of all the BTC bulls here:

From: http://www.golemxiv.co.uk/2012/08/a-waiting-game/ :

"I don’t think the banks will lend in to the real economy because they calculate that such a socially useful strategy gives low returns to them. Should they ‘defect’ from this generous strategy and chose instead the selfish strategy of ‘hoard and wait’ then they could make not just a large return but an epic one. They could emerge as owners of everything people will need in order to rebuild their lives. Water, power, rail, hospitals, you name it.

This is what the banks are waiting for. And our politicians are giving them our money so they can."