Jeez, the price is STILL rising

[Catanonia]

What is causing this ??  ASIC, coverage recently on the news ?

Sorry very newbie questions, currently mining and wanted to buy BitCoins last week when was at 90, looks like missed out due to the faff of buying these coins.

[naphto]

Yes, new people coming and wanting to buy bitcoins make the prices higher and higher.
Will probably reach 100 euros and decrease (?)

[addi]

You don't hear me complaining

[razorfishsl]

Yep.. it will continue in the short term , until the media settles down.
Then there will be a massive sell off.

[Frequency]

Yep.. it will continue in the short term , until the media settles down.
Then there will be a massive sell off.

5000+ new mtgox YET to be verified lots of €,$,¥,£ to get flown in soon, no hype just how it ment to be,

Source forum searchengine: "5500 mtgox"

No massive sell off, some corrections? Yes i ll be ready to jump in at any correction so do 1000 more.

Mark this one....!!!

[tjohej]

Yes, new people coming and wanting to buy bitcoins make the prices higher and higher.
Will probably reach 100 euros and decrease (?)

I don't think so. I honestly don't know what will cause the price to decrease this time, or even if it will decrease. If it would decrease expect the reason to be that Mt. Gox got hacked and Bitcoins stolen. Otherwise don't hold much hope(the only hope I have is that Bitcoin prices become stable, and I don't care what value they will land on really) for BTC decreasing. I could be wrong of course, as human error is very common  

Though what I hope for the most for Bitcoin greatness is that I can buy games officially from companies with BTC. Humble Bundle inc, do you hear me? I don't use wordpress, neither reddit gold. I don't live in the USA for the bitcoinstore, so that's a no no. I don't live in the USA for the pizzaforcoins so that's a no no as well. I could use a domain name from namecheap maybe though I'm not yet into DNS.

Maybe I can buy Eufloria the game on steam from Alex who works at Tuna, but that's 1 game and calling this a breakthrough in 'buying games for Bitcoin' would be exagerrating "Buy games for BTC". Though I'm very happy that at least 1 serious game dev is wanting Bitcoin for at least 1 game and I'm thankful for that.

[naphto]

Yes, new people coming and wanting to buy bitcoins make the prices higher and higher.
Will probably reach 100 euros and decrease (?)

I don't think so. I honestly don't know what will cause the price to decrease this time, or even if it will decrease. If it would decrease expect the reason to be that Mt. Gox got hacked and Bitcoins stolen. Otherwise don't hold much hope for BTC decreasing. I could be wrong of course, as human error is very common 

Though what I hope for the most for Bitcoin greatness is that I can buy games officially from companies with BTC. Humble Bundle inc, do you hear me? I don't use wordpress, neither reddit gold. I don't live in the USA for the bitcoinstore, so that's a no no. I don't live in the USA for the pizzaforcoins so that's a no no as well. I could use a domain name from namecheap maybe though I'm not yet into DNS.

Maybe I can buy Eufloria the game on steam from Alex who works at Tuna, but that's 1 game and calling this a breakthrough in 'buying games for Bitcoin' would be exagerrated. Though I'm very happy that at least 1 serious game dev is wanting Bitcoin for at least 1 game and I'm thankful for that.

How can you explain that 1 BTC was worth 10 euros 3 months ago, and 90 euros now?
Nothing.


Except that people learnt about it recently in the news, wanted to "try" it, buy some of them (because mining is too difficult and long).
Within 1 month, the people will see that it is not "that good", and will probably sell them all.

I mean, now, a lot of people are buying out of curiosity. => price is increasing.
Soon, they will see that it is pointless (more expensive than buying with real money), and sell it massively. => price will drop quickly, maybe within 3 days, because everyone will see that nobody will buy it any longer.



The current price is totally overrated.

[tjohej]

How can you explain that 1 BTC was worth 10 euros 3 months ago, and 90 euros now?

Supply and demand is like that. I can't tell if the price is overrated, because we need to suffer a crash so it is proven to us that this is the case. As long as there is no crash, nothing can be proved.

I mean, now, a lot of people are buying out of curiosity. => price is increasing.

Price increases independently of why somebody is buying the Bitcoins.
I only bought some with half of my surplus of my budget from last month. If the price was stable for at least 10-15 days I would buy Bitcoins with all my surplus of last month's budget.

The only thing I want is that more game companies accept Bitcoin: 0 until now. If anybody knows of some game company that accepts Bitcoin you must notify us through a post. Please.

Since I watched "What is Bitcoin?" on youtube I fell for 1:15 "You can purchase video games". Yes I can, but not officially from the companies or Steam or from the Humble Bundle by donations. I'm eagerly waiting to do that, cause I don't want to pay middlepersons, yes it is an option but it just doesn't feel ok. I want to pay the game company directly.

[infirit]

People are suggesting that this massive increase in value compared to fiat currencies is because it shows the real inflation of fiat money. Max Keiser has suggested this on his RT show the Keiser report.

Governments have been tweaking the inflation numbers for some time now (excluding food prices for example) so this may well be correct.

[ErebusBat]

http://en.wikipedia.org/wiki/Tulip_mania

[infirit]

http://en.wikipedia.org/wiki/Tulip_mania

Tulip boy here 

[ErebusBat]

http://en.wikipedia.org/wiki/Tulip_mania

Tulip boy here 

It was more of a quick response to the quote above:

I don't think so. I honestly don't know what will cause the price to decrease this time, or even if it will decrease. If it would decrease expect the reason to be that Mt. Gox got hacked and Bitcoins stolen.

The price of tulips just kept going up an up with no end in sight (much like our current prices). Then one day no one bought a bulb, just one bulb, and a massive panic selling ensued.  So it doesn't have to be something like a major hack, the market could just turnaround for no reason.