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Author Topic: What is up with this rapid climb in price?  (Read 2364 times)
kiwiasian
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June 03, 2011, 02:31:27 PM
 #1

Yesterday, BTC was valued 9.5 USD/BTC.
Last night it reached a high of 11 USD/BTC.
This morning it was 14.2 USD/BTC.

What is up with this?

The entire Bitcoin economy is going to crash. Any day now.

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Mapatti
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June 03, 2011, 02:33:54 PM
 #2

It will gonna crash if everybody does sell every single bitcoin that they own.
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June 03, 2011, 02:36:59 PM
 #3

Oh, sorry guys, while you were asleep I bought up several thousand bitcoins just for shits and giggles.
Sorry about running the market up.

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bcpokey
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June 03, 2011, 02:37:36 PM
 #4

Where is kiba when you need him?

Bubble!
AngelusWebDesign
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June 03, 2011, 02:51:37 PM
 #5

Um...I already started a thread about this.

Before you. (No offense)
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June 03, 2011, 02:58:04 PM
 #6

It's just there is a huge media blitz going on right now and a lot of speculation. There are a ton of people from Reddit that just came in recently to buy, a bunch of them were on #bitcoin-otc last night. Also, in China people are starting to search for Bitcoin to get around their country's inflation issues.

Keep in mind the price fell once from $8.5 to $5.5, prior to that it fell from $1.22 to $.65, and prior to that $.50 to $.18. The price can and will fall, so if you are buying on speculation, expect to be holding on emotion.

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russelljohnson
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June 03, 2011, 03:19:22 PM
 #7

What is up with this thread in the wrong section?

If you've found my post helpful, send me some bitcoins!
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AngelusWebDesign
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June 03, 2011, 03:27:47 PM
 #8

Quote
What is up with this thread in the wrong section?

Hey, who died and made you the Thread Police?

It's quite interesting to the majority of posters in this sub-forum -- hence it belongs here. The price of Bitcoin has everything to do with mining.
njloof
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June 03, 2011, 03:42:44 PM
 #9

I hope China starts mining in a big way. I would love to be able to buy bitcoins with RMB.
bcpokey
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June 03, 2011, 04:06:24 PM
 #10

I hope China starts mining in a big way. I would love to be able to buy bitcoins with RMB.


Why does china need to mine to buy bitcoins in RMB? What you need is for someone in china to set up an exchange.
kiwiasian
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June 04, 2011, 02:57:33 AM
 #11

Does anyone have any idea why price climbed up so rapidly?

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June 04, 2011, 03:00:09 AM
 #12

Well there's the Silk Road Gawker article, but that would be giving Gawker and Adrien Chen FAR too much credit. To me it looks like what generally happens when bitcoin passes these hurdles: it doesn't just clear the $10 mark, it soars!
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June 04, 2011, 03:02:48 AM
 #13

Does anyone have any idea why price climbed up so rapidly?

Yes, everyone who bought bitcoins today.

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MrGaSp
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June 04, 2011, 05:21:46 AM
 #14

With the new increase/bubble, we're looking at almost 100 million USD in bitcoins that have been made(granted some have been deleted)..Thats just insane!

Dayofswords
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June 04, 2011, 06:34:56 AM
 #15

it's easy to explain

Gawker made an article
many picked it up
made blog posts
things happened

many now know how to buy drugs with bitcoins, horay!

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June 04, 2011, 06:38:16 AM
 #16

Does anyone have any idea why price climbed up so rapidly?

Yes, everyone who bought bitcoins today.
Win.  Cheesy
gigabytecoin
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June 04, 2011, 06:43:38 AM
 #17

Yesterday, BTC was valued 9.5 USD/BTC.
Last night it reached a high of 11 USD/BTC.
This morning it was 14.2 USD/BTC.

What is up with this?

The entire Bitcoin economy is going to crash. Any day now.

Bold words! I highly doubt it...
error
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June 04, 2011, 08:25:49 PM
 #18

Why? Bitcoin is still extremely undervalued.

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