Mt. Gox hits all-time Bitcoin high

[ingrownpocket]

Awesome! 

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[fghj]

http://bitcoincharts.com/charts/bitomatPLN#czsg2011-03-07zeg2011-06-08ztgSzm1g10zm2g25zvzl about 20PLN left to the top XD.

[Timo Y]

Psychologically, this is an important milestone. It marks the end of the 2011 bubble and the beginning of a new chapter in the history of Bitcoin.

[Wekkel]

I am starting to get excited. Usually that is not a good sign 

[WiW]

As much as I love seeing the price point rise, I'm afraid of a bubble. There's no need for the price to rise so quickly. In fact, there should be little focus on the price point.

The focus should be on the actual economy. In order for this to not be a bubble, there needs to be an economy to back this up, as in, more people and businesses should be trading in bitcoin, and the price rises accordingly. If big media attention brings loads of speculators to bitcoin without plans to actually use bitcoin as a medium of exchange, then a bubble is quite likely.

Downplay the price, and focus on the economy.

Edit: if people come because of the price to use bitcoin as a medium of exchange, then that's good. It's a swarm of speculators that I'm worried about. But I have a feeling people are more likely to use a currency as a medium of exchange if they hear about merchants using it, rather than price hikes.

[twolifeinexile]

Congrats all!

Congrats? I would be so sad that the opputunity to buy below this number seems closing.....

[Piper67]

Congrats all!

Congrats? I would be so sad that the opputunity to buy below this number seems closing.....

This number will look ridiculously low in a couple years.

[twolifeinexile]

not quite the all time high

https://blockchain.info/charts/market-price?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

$35 is the all time high

31.9099 was the previous high. Blockchain.info is lying to you

lol thats like the same thing as what some people said about the nazi genocides "it didn't happen" http://en.wikipedia.org/wiki/Holocaust_denial

but instead of tryng to change history. talk to some people that were actually around when the events occurred.
https://bitcointalk.org/index.php?topic=35051.msg436019#msg436019 for example

the price ACTUALLY reached that price. it wasn't a graph glitch, it actually happened. but the reason it happened and got so high was because of a speculated ramp.. no bases on any value or reason to be that high.. but it still happened.

atleast this time if it surpasses $35 it atleast has a bigger userbase and difficulty range backing up reasons for why it deserves to be so high

The all time matters as psycological barrier, since most consensus is around a number slight below $32, that number is "ALL TIME HIGH" in essense.
Past history of any price isactually meaninless, but as a information piece that engraved in memory matters.

[johnyj]

As much as I love seeing the price point rise, I'm afraid of a bubble. There's no need for the price to rise so quickly. In fact, there should be little focus on the price point.

The focus should be on the actual economy. In order for this to not be a bubble, there needs to be an economy to back this up, as in, more people and businesses should be trading in bitcoin, and the price rises accordingly. If big media attention brings loads of speculators to bitcoin without plans to actually use bitcoin as a medium of exchange, then a bubble is quite likely.

Downplay the price, and focus on the economy.

Edit: if people come because of the price to use bitcoin as a medium of exchange, then that's good. It's a swarm of speculators that I'm worried about. But I have a feeling people are more likely to use a currency as a medium of exchange if they hear about merchants using it, rather than price hikes.

What is a bubble? If price doubled every day/week/month/year/decade, is it a bubble?

[niko]

As much as I love seeing the price point rise, I'm afraid of a bubble. There's no need for the price to rise so quickly. In fact, there should be little focus on the price point.

The focus should be on the actual economy. In order for this to not be a bubble, there needs to be an economy to back this up, as in, more people and businesses should be trading in bitcoin, and the price rises accordingly. If big media attention brings loads of speculators to bitcoin without plans to actually use bitcoin as a medium of exchange, then a bubble is quite likely.

Downplay the price, and focus on the economy.

Edit: if people come because of the price to use bitcoin as a medium of exchange, then that's good. It's a swarm of speculators that I'm worried about. But I have a feeling people are more likely to use a currency as a medium of exchange if they hear about merchants using it, rather than price hikes.

What is a bubble? If price doubled every day/week/month/year/decade, is it a bubble?

A "bubble" is the term that only works in hindsight, and is therefore pretty much useless for discussing the current state of affairs.
If you look at price change over total trade volume, not over time, you'll notice that recent price increase is very different then the June 2011 madness:

[BitCoinsLOL]

    Show chart
    Last price:$33.41331
    High as hell:$34.51541
    Low:$30.90200
    Volume:73760 BTC
    Weighted Avg:$33.06103

Mt. Gox

[runeks]

not quite the all time high

https://blockchain.info/charts/market-price?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

$35 is the all time high

Nonsense.  Blockchain.info isn't a direct source.  You can pull every trade ever made with timestamps and size from MtGox db using the API.  Or you can use bitcoincharts.

[...]

Where is Mt. Gox' API for historical data? I can only find bitcoincharts'. Would be nice to get it straight from the horse's mouth.

[mpfrank]

not quite the all time high

https://blockchain.info/charts/market-price?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

$35 is the all time high

Nonsense.  Blockchain.info isn't a direct source.  You can pull every trade ever made with timestamps and size from MtGox db using the API.  Or you can use bitcoincharts.

[...]

Where is Mt. Gox' API for historical data? I can only find bitcoincharts'. Would be nice to get it straight from the horse's mouth.

So, I actually saw the Mt. Gox price tick up to $35 momentarily the other day, but then, that didn't get reflected in the daily high or any charts.  I wonder sometimes if there are momentary price fluctuations that occur that don't get permanently recorded anywhere...  Some kind of dark pool trade maybe?

[niko]

It was a trade in a currency other than USD.

This is correct. The "high" and "low" on MtGox Website are any-currency trades converted to USD. IIRC the API documentation explains this.

[TooCasual]

Again she blasts off ... Someone's gotta do a twisted tune for the song: Shooting star by Bad company for Bitcoin.

TC

[kerogre256]

Now I wait for TBTF, and PTB , Goverment move, interesting time..