Bitcoins is on Yahoo frontpage - Brace for impact people.

[billyjoeallen]

The article is a retread, but it's timing and placement are suspicious.  Somebody with money and influence wants to get in cheap and is shaking out the weak hands. You can see this in the commodities markets all the time, most recently with silver.

We need to be thinking long-term and big picture.  It could easily get worse before it gets better.

I think a breakdown to 18-19 is terribly reasonable and probably healthy.

I agree. I won't get really worried until it drops below $16.  The part that's going to suck is the loooong wait to retest the highs. Silver still hasn't done it yet and probably won't until QE3 is announced.

[hawks5999]

I agree. I won't get really worried until it drops below $16.  The part that's going to suck is the loooong wait to retest the highs. Silver still hasn't done it yet and probably won't until QE3 is announced.

WTH will QE3 do to BTC? I've been thinking in PMs for so long, but I have to think that QE3 will drive up the US$ cost for BTC.

[Synaptic]

I warn you . . . the quote I'm about to post may cause you indescribable rage. You may suddenly feel the urge to punch small children or kick puppies. If symptoms persist please consult your doctor.

...and if there is no central "bank" how do you suppose anyone can tell a real Bitcoin from a forgery?! And when "Super Bitcoins" come along, will they be worth more or less than the old ones?? hmmmm... I think I need to start a new website - ha ha ha - after all, the printer of the money, real or not, gets full value for his wares...

Why does this make you rage?  Why should this make any of us rage?

This is exactly the kind of person we want using bitcoin, and what we see is that they simply don't understand it.

That's not a failure of the individual making the comment (who is likely over 40 and a casual computer user), it's the failure of bitcoin.

There is so much fucking hubris here about the "PLEBES WHO DON'T UNDERSTAND HAR HAR," but don't you fucking get it?  These plebes are the only variable that matters for the long term sustainability of bitcoins as a legitimate method of exchange or store of value.

Unless you're happy jerking your pud about printing money for nothing with the rest of your "I just happened to have some powerful cards cause I'm a gamer" and "I'm getting rich cause I print money, BUY MORE CARDS, RALLY" and "This is the way of the future guys, really, I know it" bretheren, then you better hope to the fucking bitcoin god that someone more mature and a better man than you are out there trying to POLITELY educate people who don't understand it.

[Montpelerin]

The Bitcoin Triples Again

by Jack Hough
Friday, June 10, 2011

The online currency has minted off-line millionaires. But for how long?

Really?...Really???

[Synaptic]

The Bitcoin Triples Again

by Jack Hough
Friday, June 10, 2011

The online currency has minted off-line millionaires. But for how long?

Really?...Really???

^^ see what I mean about the hubris?

Anyone here who doesn't understand that this article was just some entry level journalist's weekend piece please raise your hand for an explanation. Pro-tip: Most of you should be raising your hands right now.

This isn't some popular, respected columnist's article.  It's a backwater effort of a dying, and aging demographic's news site.

Get a grip everyone.  Not everyone with a job in journalism is there to represent your obsession with 100% accuracy or insight...

[herzmeister]

That's not a failure of the individual making the comment (who is likely over 40 and a casual computer user), it's the failure of bitcoin.

I'm afraid the generation of people who still print out every eMail they get and every website they occasionally visit will be very hard to make understand, let alone to make accept and use P2P currency. I'm afraid we'll have to wait until they have become extinct. 

[Synaptic]

That's not a failure of the individual making the comment (who is likely over 40 and a casual computer user), it's the failure of bitcoin.

I'm afraid the generation of people who still print out every eMail they get and every website they occasionally visit will be very hard to make understand, let alone to make accept and use P2P currency. I'm afraid we'll have to wait until they have become extinct. 

Which is exactly why $30+/BTC is absolutely hilarious speculative chutzpah...

[MiningBuddy]

I warn you . . . the quote I'm about to post may cause you indescribable rage. You may suddenly feel the urge to punch small children or kick puppies. If symptoms persist please consult your doctor.

...and if there is no central "bank" how do you suppose anyone can tell a real Bitcoin from a forgery?! And when "Super Bitcoins" come along, will they be worth more or less than the old ones?? hmmmm... I think I need to start a new website - ha ha ha - after all, the printer of the money, real or not, gets full value for his wares...

Why does this make you rage?  Why should this make any of us rage?

This is exactly the kind of person we want using bitcoin, and what we see is that they simply don't understand it.

That's not a failure of the individual making the comment (who is likely over 40 and a casual computer user), it's the failure of bitcoin.

There is so much fucking hubris here about the "PLEBES WHO DON'T UNDERSTAND HAR HAR," but don't you fucking get it?  These plebes are the only variable that matters for the long term sustainability of bitcoins as a legitimate method of exchange or store of value.

Unless you're happy jerking your pud about printing money for nothing with the rest of your "I just happened to have some powerful cards cause I'm a gamer" and "I'm getting rich cause I print money, BUY MORE CARDS, RALLY" and "This is the way of the future guys, really, I know it" bretheren, then you better hope to the fucking bitcoin god that someone more mature and a better man than you are out there trying to POLITELY educate people who don't understand it.

Thank you Synaptic, this has actually made me sit back and think about things in a different light. I'm sure others can learn from this.

[Dansker]

Other golden comment highlights:

"oney other than Gold or Silver is insanity!!! Would you rather have a pound of Gold or a pound of paper??? Virtual money.... are you kidding me?!? What's next.... virtual food, air, water?"

"it is a crime to counterfit money and a crime to use the barter system in this country CAREFUL folks"

"Virtual money?Isnt that like trying to use monopoly money?"

[niemivh]

Don't read the comments on the Yahoo article unless you want to rage so hard. Well... unless you want to play a drinking game where you drink every time some one mentions ponzi, beanie babies, or tulips.

http://finance.yahoo.com/banking-budgeting/article/112907/bitcoin-triples-again-smartmoney

LOL, no kidding.  I made the mistake of reading the first 3 comments and these people love that their slave-dollars have many of the negative aspects of BTC without the good.

[SlaveInDebt]