Bitcoin on CNBC

[noob_jul11]

Just saw this article ... http://www.cnbc.com/id/100597242
Thought it might be interesting to share it here ...

[Tea, Towels, Vogons etc.]

You know what happens when some new asset gets promoted on CNBC as being "the most remarkable appreciation ever"?
1. It gets dumped by all the big players once Main Street buys into it
2. Once the carnage is over, it gets rebought at bargain prices.

Or, that's how it typically works with the corporate news cycle and Wall St. Personally, I don't see the current prices as being stable enough not to worry about a potential crash...it's in the back of everyone's mind that this thing has blown up way too fast to be sustainable. And the bitcoin confirmation times are certainly showing that the computing power is struggling to keep up with the new transaction volumes. That and Mt. Gox is on some pretty unstable footing right now being able to process it's own trades...

[Gator-hex]

"They won't make a sound no matter how many of them you try to toss in a bucket, and you can't pitch them in a fountain and wish for good luck." - Jeff Cox (CNBC)

LOL, he shows a picture of the physical Casascius Bitcoin and then claims it makes no sound and cannot be tossed into a fountain. What an idiot!  

[Stealth]

Send those exchange rates higher... I guess more exposure is good exposure?!

[bitrocket]

interesting, more mainstream publicity for bitcoin

[Tea, Towels, Vogons etc.]

Send those exchange rates higher... I guess more exposure is good exposure?!

Only as long as the system keeps processing the rapid influx of cash...confirmation times are getting pretty slow these days...

[noob_jul11]

Well, I think everyone that is in BTC is in it for a long term. And everyone that is in btc is prepared to lose it all without hurting for money. I am the same ... I enjoy the ride and in btc for the long term.

I cannot remember ... is USD90/btc all time high? Didn't it go to USD300 / btc one time? Or maybe it was a dream .. can't find it http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zv

[robinhood9845]

I cannot remember ... is USD90/btc all time high? Didn't it go to USD300 / btc one time? Or maybe it was a dream .. can't find it http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zv

That must have been a dream, it has never been higher than now.

[gochk]

Well, I think everyone that is in BTC is in it for a long term. And everyone that is in btc is prepared to lose it all without hurting for money. I am the same ... I enjoy the ride and in btc for the long term.

I cannot remember ... is USD90/btc all time high? Didn't it go to USD300 / btc one time? Or maybe it was a dream .. can't find it http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zv

lol .. I think it's a dream. It's okay ... we've all been there

[Redi]

There is so much stupidity in discussion under that CNBC post that I can't even...

[BBQSauce]

Interesting.  Thanks