The April 2013 Bitcoin "bubble" thread

[whiskers75]

There are so many threads about this "bubble", I decided to make one BIG thread. Post your various findings and explanations here, and let's keep things organized instead of posting 1,000+ ALL CAPS posts saying "OMG BTC IS $140".

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[cr1776]

Prices are set at the margins so even a small number of additional bitcoin users can greatly increase the exchange rate when there is a limited supply.  Is this a "bubble" or is this just the continuing maturation of the market itself? 

Think about this:  with around 21 million bitcoins maximum, if even just 5% of the world population wanted to use it (roughly the population of the US, say 300 million people), that would be around 0.07 bitcions per person if evenly distributed. The market is huge with the number of people in countries with currency issues, lack of freedom, lack of transparency - shoot, it might even be super-majority of the world population. 

So, I do not know if this is a bubble, or growth.  The only way to know for sure is to look back in a few years.  ;-)

There are so many threads about this "bubble", I decided to make one BIG thread. Post your various findings and explanations here, and let's keep things organized instead of posting 1,000+ ALL CAPS posts saying "OMG BTC IS $140".

[Avalanche_JST]

Well I definitely ain't buying them while the price goes up! I can't afford them. I just want Bitcoins to gain widespread use for every day kind of things.

[christop]

Well I definitely ain't buying them while the price goes up! I can't afford them. I just want Bitcoins to gain widespread use for every day kind of things.

You can't afford $14 to buy 0.1 BTC, or $1.40 to buy 0.01 BTC? They're highly divisible, so don't limit yourself to buying whole Bitcoins.

[Gruu]

One thing I've noticed more than anything with this currency is its resiliency. Yeah the price may go up and even "crash" at times, but it always seems to recover within 1-2 weeks (if it even takes THAT long).
I only wish I could've foreseen SOME sort of increase instead of selling off my bitcoins a year ago :/

[Avalanche_JST]

Well I definitely ain't buying them while the price goes up! I can't afford them. I just want Bitcoins to gain widespread use for every day kind of things.

You can't afford $14 to buy 0.1 BTC, or $1.40 to buy 0.01 BTC? They're highly divisible, so don't limit yourself to buying whole Bitcoins.

Ah! That was something I was wondering about - If the exchanges had fractions available. I didn't know that. Thanks!

[scoupafi]

Well I definitely ain't buying them while the price goes up! I can't afford them. I just want Bitcoins to gain widespread use for every day kind of things.

You can buy now and sell later because as you stated the price only goes up. No loss there unless you get greedy and you wait until a crush comes. And it might, more likelly will come.

[MrJMassey]

Well I definitely ain't buying them while the price goes up! I can't afford them. I just want Bitcoins to gain widespread use for every day kind of things.

You can't afford $14 to buy 0.1 BTC, or $1.40 to buy 0.01 BTC? They're highly divisible, so don't limit yourself to buying whole Bitcoins.

Ah! That was something I was wondering about - If the exchanges had fractions available. I didn't know that. Thanks!

In fact you can get to around 8 decimal places I believe.  The annoying part is that once you do, the transfer fee from the exchange can somtimes keep those small fractions trapped.  In short, do the math first, I did not.

J.

[jrlichtman]

Just bear in mind that the price is extremely volatile. If you can't handle 50% price changes in a day, stay away for now.

On Virtex, it just went from $134 to $99, and then at the moment it is back up to $115 ($ CAD). Could be related to the Mt Gox crash, but who really knows.

[kosmonaut]

Technical analysis is your friend. For a while it was looking like a pump and dump but now it is correcting itself.
Learn the basic trends and candlestick formations and you can start trading btc like any other commodity or currency.