bitcoin crossed 150$, 200$ & soon 500$

[dishwara]

Today bitcoin crossed 150 USD.
http://bitcoincharts.com/markets/mtgoxUSD.html

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[NilamDoc]

It was goin to cross. I am sure we will just count the days before it crosses $200 soon.

[Benson Samuel]

Amazing gain post Cyprus

[Benson Samuel]

$ 160

[Benson Samuel]

Almost at 10K INR for each BTC.

[Zaih]

Next up: $200!

[buysellbitcoin]

185 now

Cheers

[buysellbitcoin]

And we are going to reach 200 soon... 194 now

Cheers

[Pinwheel]

so  ... what  .. to do  sell or hold

[buysellbitcoin]

so  ... what  .. to do  sell or hold

Bitcoin is going to touch sky highs in the coming years. But still its very small economy compared to other markets ( around 1 bln ) and will see lot of ups and downs, challenges, market manipulations and what not. So if you are uber long with bitcoin, just hold and do not worry much about price going high or low.

But again we need to pay bills and do business

So simple advise, book some profit regularly when you find you are making good money. In case you find bitcoin price going low and can afford buy, buy again. But in any case you must have certain % ( it can be anything 10, 20, 50, 90, 99 ) as your long term investment.

One more thing is always try to spend bitcoins rather than selling. For example you want to buy BFL single or planning to buy some property near your town. Sell some coins for INR ( I dont think property owner will take bitcoin at the moment ) and buy whatever you have planned. I dont find a good reason to convert bitcoins to FIAT and hold that. But you can convert it to FIAT as medium of exchange for buying something or investing in something.

Also, Never put all eggs in one basket . Try to diversify your portfolio with some portion going in Gold, Property, Insurance and pension plans  and what not

Cheers

[Benson Samuel]

so  ... what  .. to do  sell or hold

Create an Ecosystem.

Trade with it. Do not buy or sell

Once you have some, that is.

But that's me, limited material requirements.

Everyone needs to get their own speculation on this one as no one has seen trends like what Bitcoin has created.

[Pinwheel]

so  ... what  .. to do  sell or hold

One more thing is always try to spend bitcoins rather than selling. For example you want to buy BFL single or planning to buy some property near your town. Sell some coins for INR ( I dont think property owner will take bitcoin at the moment ) and buy whatever you have planned. I dont find a good reason to convert bitcoins to FIAT and hold that. But you can convert it to FIAT as medium of exchange for buying something or investing in something.

Also, Never put all eggs in one basket . Try to diversify your portfolio with some portion going in Gold, Property, Insurance and pension plans  and what not

Cheers

thanks for advice, much appreciated.  I already invested to BFL, not much but what I can loose easily, now will wait till it turn into something real. I seriously considering now to buy some ASICminer shares. Sort of bitcions which not only grow but also pays some dividends.

FIAT ? why would you like to buy that car, stay away. If you like the look buy small model and keep it on your table. For guy who trade bitcoins for longer then most members here knew about it, you must be driving Bentley by now.

[buysellbitcoin]

FIAT ? why would you like to buy that car, stay away. If you like the look buy small model and keep it on your table. For guy who trade bitcoins for longer then most members here knew about it, you must be driving Bentley by now.

rofl

Cheers

Edit : +1 for car analogy

[apurvslam]

!!!!!200!!!!!

[buysellbitcoin]

And crossed 200

Cheers

[buysellbitcoin]

!!!!!200!!!!!

You bit me there

Cheers

[apurvslam]

!!!!!200!!!!!

You bit me there

Cheers

haha :p
The greatest redistribution of wealth in human history is happening right in front of our eyes. proud to be a part of it ...go bitcoins go keep on rising!!   

[dishwara]

next destination will be 500 USD

[buysellbitcoin]

next destination will be 500 USD

ha ha ha
I see what you did with Title

Cheers

[skang]

300$ on or before 15 April.

[Benson Samuel]

This looks like someone big is coming onboard Bitcoin.

Nothing can grow Market Cap like this unless someone was planning on involving in million/billion+ dollar transactions.

This is a market pump. May be a true valuation, but expect a nasty drop when 'Mr Big' decides to come onboard finally.

'Mr Big' will also be the cause for 500$ and maybe even $750.

[Benson Samuel]

Any possibility of converting this thread to INR rather than USD?

[Pinwheel]

that is not one man behind or group. Started from Cyprus, fear to loose their savings pushing people toward btc. that is some serious money and a lot of rush.

[Benson Samuel]

Follow the money Mr Pinwheel.
You will be surprised as to how many people are really really contributing to BTC right now.

[Benson Samuel]

Dat Bitcoin is gonna make 10K USD before I wake up.

WTF is it doing?

[dishwara]

Converting to INR, instead of USD is not easy.
The main & most trading is done in USD & EUR only.
If some able to write a script or something to convert USD to INR, it may show in INR.
The price buysellbitco.in asks can be used, still the variations are very much & very fast.

3000 INR to 14280.11 INR in a month is very fast.

[Benson Samuel]

Update this thread with INR Dishwara,

It is what we really need and you are the most experienced person here to bring us this data accurately and honestly.

[dishwara]

The truth behind Mr.BIG, is same as the illegal or dirty work done in any country, in the name of corruption.

Before the ASIC starts mining, the price MUST be increased, then only many can't/won't enter mining easily.
AMD cards available everywhere, so GPU mining became a profitable & next step in mining.
The next step after GPU must be a shady one, coz from simple experiment, bitcoin turned in to a serious "THE ONE" way of money making, which never happened in this world for the past 10000+ years.

If any one can get powerful chips & mine, then where is the control?
Yes, bitcoin is decentralized, BUT controlled by people, who in this community called by the name "MINERS".

Miners control price according to difficulty, so that bitcoin difficulty can be CONTROLLED & can be mined the way they want.
supply and demand.

Price will become stable, once the miners find mining with ASIC or whatever ABC, is profitable to them & it can't be mined by others.
Bitcoin is corporate now.

[Pinwheel]

The truth behind Mr.BIG, is same as the illegal or dirty work done in any country, in the name of corruption.

Before the ASIC starts mining, the price MUST be increased, then only many can't/won't enter mining easily.
AMD cards available everywhere, so GPU mining became a profitable & next step in mining.
The next step after GPU must be a shady one, coz from simple experiment, bitcoin turned in to a serious "THE ONE" way of money making, which never happened in this world for the past 10000+ years.

If any one can get powerful chips & mine, then where is the control?
Yes, bitcoin is decentralized, BUT controlled by people, who in this community called by the name "MINERS".

Miners control price according to difficulty, so that bitcoin difficulty can be CONTROLLED & can be mined the way they want.
supply and demand.

Price will become stable, once the miners find mining with ASIC or whatever ABC, is profitable to them & it can't be mined by others.
Bitcoin is corporate now.

ASIC is mining already, first was ASICminer (China), after GPU step is already going on for more then one year called FPGA.

[dishwara]

Their is difference between 10 Gh/s & 10 Th/s.
Bringing ASIC or whatever huge mining power will increase the difficulty very much, but the coins going to be mine won't increase.
This makes mining not profitable.
To make mining profitable, price must increase.
Even though all saying, use bitcoins as currency, miners see them as commodity only.
Miners pay for everything in fiat currencies, so btc value in usd & other fiat currency must increase.
Increasing price will increase difficulty again, so they will increase mining power.
An endless loop.
Miners decide when to increase price & how much to increase.

https://bitcointalk.org/?topic=7427.0

[Pinwheel]

Their is difference between 10 Gh/s & 10 Th/s.
Bringing ASIC or whatever huge mining power will increase the difficulty very much, but the coins going to be mine won't increase.
This makes mining not profitable.
To make mining profitable, price must increase.
Even though all saying, use bitcoins as currency, miners see them as commodity only.
Miners pay for everything in fiat currencies, so btc value in usd & other fiat currency must increase.
Increasing price will increase difficulty again, so they will increase mining power.
An endless loop.
Miners decide when to increase price & how much to increase.

https://bitcointalk.org/?topic=7427.0

at current bitcoin price mining is very profitable, regardless of difficulty spike.

[dishwara]

@pinwheel, what you trying to say?
Just saying opposite to my post, make me feel, you trolling.

[buysellbitcoin]

@pinwheel, what you trying to say?
Just saying opposite to my post, make me feel, you trolling.

I think what Pinwheel is saying is Bitcoin Mining is at its best profitable stage due to sudden rush in BTC USD prices. All Pinwheel is emphasizing that holding bitcoin or mining bitcoin will be much more profitable even if ASIC/orXChip come in to the radar.

While your point is more related to Economy and mining in general. You are trying to put light on one of the bigger aspects, that how this economy may/is/can being/be controlled by Mining...

Cheers

[Pinwheel]

@pinwheel, what you trying to say?
Just saying opposite to my post, make me feel, you trolling.

what I'm saying is what I'm saying, with bitcoins now 248,  people now back mining with GPU and making good money like never before regardless of difficulty factors been on highest level 7672999.92016

and you writing - "This makes mining not profitable." and what I'm saying is that your assumption is WRONG

mining at current difficulty level with three 7970 GPU at 1950 mh/s will give you more then usd1000 per month. same rig was giving usd180 per month at difficulty level 4672999 and bitcoin cost 27

does it look like trolling to you

[dishwara]

Yes, mining become profitable after the price increase.
Also mining litecoins & selling it for bitcoin gives maximum profit now.

[dishwara]

@buysellbitcoin
You can update this thread with INR value, which will help Indians who calculate in INR.

[skang]

Going on 20,000 Rs any minute now!

[tryingtobeperfect]

It fell from $260 to $190:(

[Benson Samuel]

That, my fellow enthusiasts is the weakness of today's Bitcoin markets.

Pump & Dump will never go away in the Bitcoin world. It is the easiest way for few people to get rich.

[StLucifer]

That, my fellow enthusiasts is the weakness of today's Bitcoin markets.

Pump & Dump will never go away in the Bitcoin world. It is the easiest way for few people to get rich.

i read somewhere that it was a panic sell off due to DDoS attack on mtgox...
if you search bitcoin news in google, the first few articles say this.. dunno how reliable.

If its true, this is just temporary.

[Benson Samuel]

Yeah. Just read that Mt Gox had the highest volumes as they had added a bunch of accounts, But watching the troll box in btc-e made it evident that there was a pump operation yesterday and the day before.

[Pinwheel]

That, my fellow enthusiasts is the weakness of today's Bitcoin markets.

Pump & Dump will never go away in the Bitcoin world. It is the easiest way for few people to get rich.

when in flat currency trade there is regulations against such illicit activities, in bitcoins it is just wilde.

[tryingtobeperfect]

I was about to sell when its value was more than $230 but now it fell too much. Btw, what could be the causes for the changes in BTC value? How does this actually work? Any good article?

[Benson Samuel]

I can try to explain how it works.

Person A walks in with a huge amount of money and begins to buy Bitcoins all the way from 150$ to 266$, once he has finished his pump, he will have an average price for his all buys which will be far lower than the high that he has created.

He then sells all his Bitcoin that he purchased on the pump for that average price plus his profit, crashing the market. Other people jump in and scream bloody murder crashing the prices even more.

Bitcoin is awesome in a way that it will never lose value, but will always be susceptible to market forces until supply and demand begin to set the prices rather than Mt Gox speculators.

At a theoretical true end valuation of approx $190K each coin, Bitcoin's base value will grow way way more than it currently is.

[Pinwheel]

price will go up soon. now good time to buy.

mtgox has 15000 accounts waiting for approval.

[Benson Samuel]

I agree.

What nobody is pointing out here is that although it crashed from $266, it gained 10% since start of play yesterday.

And seems to be holding out for now.

[tryingtobeperfect]

@Benson, thank you for a simple xplaination:)

[Benson Samuel]

Saw this on twitter today:

David Seaman ‏@d_seaman 4h
Hey! If you really believe in #Bitcoin, you shouldn't be anxiously day trading it. This isn't http://Pets.com  stock, it's the future

[buysellbitcoin]

So what we learned yesterday is..
105 is new low and its not bad.. Its good news for long time investors..
Bitcoin has finally proved it is worth more than 100$ in such panic sell too

Cheers

[Benson Samuel]

Actually, $150 is the new low, that is why it stabilized around it. The drop to $105 regained very fast.

[dishwara]

It seems the price drop is just due to huge trading on mtgox, which frozen mtgox servers, that created illusion that price falling down.
So the value will again rise very soon & reach 500$.

https://mtgox.com/press_release_20130411.html

[tryingtobeperfect]

Actually, $150 is the new low, that is why it stabilized around it. The drop to $105 regained very fast.

What do you have to say now? $65 is the new low?

[Benson Samuel]

Well, that was yesterday :p

Lol.

[tryingtobeperfect]

Today, story got much exciting... $54.2:) @Benson bro,do u think it can go down today?

[Benson Samuel]

I am not sure.

A lot depends on Mt Gox and North America should just be coming on.

It is a Friday as well, so need to wait and watch.

[tryingtobeperfect]

^^So, how does it usually go on Friday or weekends?

[Benson Samuel]

Not sure, but there should be a difference as people would be unable to get deposits into Mt Gox on the weekend.

[Pinwheel]

tomorrow when mtgox will open at 7:30 Indian time that will be a lot of fun again.  I doubt they will solve problems in next 3-4 days or even in one week, so it will be all same again and again. I lovin in.

[Pinwheel]

by now, I'm pretty much sure it is Ddos, started around 00:10 am on 14 April. mtgox was working fine all day without any lag and went on  26 minutes  lag in few minutes, then price dropped fast from 114 to 101. if it is Ddos then it may happens again tomorrow.

[Sarfraz18]

The bubble has burst

[estray]

this is a good sign 

[tryingtobeperfect]

Was stable at 94 for a while and here it goes down again...

[dishwara]

Everyone is busy with gold, silver, crude oil price drop.

[Thezjame]

Good info and sure Bitcoin is going to touch sky in the next years

[Pinwheel]

500 Internal Server Error

[Fernandez]

Its a long term game - the market is too volatile at moment; good for buying though.

Have a couple of BTCs - will buy that Honda City when each is worth 5 lacs INR 

[Benson Samuel]

Its a long term game - the market is too volatile at moment; good for buying though.

Have a couple of BTCs - will buy that Honda City when each is worth 5 lacs INR 

+1

[dishwara]

5 lakh is a very long target, at that time the price of honda city will be more.
1000 USD = 50K INR
10000 USD = 500K INR, thats 5 lakh.

[Benson Samuel]

5 lakh is a very long target, at that time the price of honda city will be more.
1000 USD = 50K INR
10000 USD = 500K INR, thats 5 lakh.

I do believe that Bitcoin will shoot past that amount as well. Would be nice to see some calculations on timeframe for that to occur.

I assume that should be in the next 5-6 years.

Once Bitcoin goes out of beta and the marketplace settles down.

[Pinwheel]

Its a long term game - the market is too volatile at moment; good for buying though.

Have a couple of BTCs - will buy that Honda City when each is worth 5 lacs INR 

ago I invested some coins into

instead of waiting, for your bitcoins to rise, why not to trade or invest your coins.

for example few days ago in bought some ASICMINER-PT shares and almost like next day I got dividends 0.00696732 per share   total ฿ 1.23321564. Shares traded in btc, and share cost on rise too. That s better strategy.

another example mtgox today. if you manage to sale 2 btc today on mtgox for 135x2 = usd 270
then by situation on that current moment you may be able to buy your 2 btc back at rate of 113 and it will be
270/113 =  2.389 that way you just made .389 in few hours.

[Benson Samuel]

I had invested in GLBSE.. Who runs BTC TC?

Would like to chat with the dev/ owner before venturing into it.

[Pinwheel]

I had invested in GLBSE.. Who runs BTC TC?

Would like to chat with the dev/ owner before venturing into it.

company registered in Beliz, run by burnside

https://btct.co/faq

https://bitcointalk.org/index.php?topic=148350.0

[Benson Samuel]

Threw some coin at gox bot.. gone down from 1.3 to 1.16.. That seems to be a ripoff.

[Pinwheel]

Threw some coin at gox bot.. gone down from 1.3 to 1.16.. That seems to be a ripoff.

def it s look that way, but maybe you did not tested it for long enough. what bot was that?

[Benson Samuel]

Using the chrome extension.

[Pinwheel]

Using the chrome extension.

I'm testing beta Cortex7, need some work, but that can be big thing in btc trading, as it can predict mtgox price, not sure how accurate these predictions will be.

i was just about to trade today based on Cortex7 sale/buy advises, but Mtgox went under Ddos and stack at 125.000 at 2:27:08 utc

[Benson Samuel]

Using the chrome extension.

I'm testing beta Cortex7, need some work, but that can be big thing in btc trading, as it can predict mtgox price, not sure how accurate these predictions will be.

i was just about to trade today based on Cortex7 sale/buy advises, but Mtgox went under Ddos and stack at 125.000 at 2:27:08 utc

What trading system is it based on?

[Pinwheel]

here it is
http://www.cortex7.net/forum/showthread.php?tid=87

[Benson Samuel]

I spent today playing the manual market.. made 2.1 BTC from investment of 1.16.

That is decent as hell.. Not sure if a bot can do this efficiency.

[Pinwheel]

I spent today playing the manual market.. made 2.1 BTC from investment of 1.16.

That is decent as hell.. Not sure if a bot can do this efficiency.

not bad at all,  congratulations. I did not traded, I was waiting to buy at 118-119 tomorrow, but seem like I can buy at much better rate once Mtgox back from Ddos.

Cortex is not a bot, kind of which you can program to do trades for you, it is rather analysis platform with advanced prediction of future trades. Trading at this moment is not implemented.

also in Cortex you can see chronological data much clearly. it can help you to trade more frequently with better result. soon it will have automated trading and trading simulator.

[dishwara]

I spent today playing the manual market.. made 2.1 BTC from investment of 1.16.

That is decent as hell.. Not sure if a bot can do this efficiency.

How guys u able to earn.
Whenever i try, i see loosing only due to the fees mtgox charge

[Pinwheel]

I purchased today bitcoins for 110 and for 117 and 118 and for 119. 110 I even did not see that purchase, it happens I guess when DDos started.
I can sale it not 123, well enough to cover mtgox fee and buy some beer. But I would rather hold as I projecting tomorrow rate be around 127.

[Pinwheel]

I purchased today bitcoins for 110 and for 117 and 118 and for 119. 110 I even did not see that purchase, it happens I guess when DDos started.
I can sale it not 123, well enough to cover mtgox fee and buy some beer. But I would rather hold as I projecting tomorrow rate be around 127.

I was right it closing to 127

[skang]

Pinwheel is our desi Fontas ! \m/

[Pinwheel]

seems, he is gone somewhere. I dont know what Fontas been using, I using Cortex7 and it pretty accurate on predictions.

[skang]

seems, he is gone somewhere. I dont know what Fontas been using, I using Cortex7 and it pretty accurate on predictions.

He is there on BTC-e pumping NMC since morning. I made some in the process. Although he said NMC pump to begin at 9pm EDT. FEw hours still remain!

Link to cortex?

[Pinwheel]

http://www.cortex7.net/forum/index.php

[skang]

http://www.cortex7.net/forum/index.php

Thanks! I have done some neuralnet programming for apps. Let me see if I can tweak it further if this is opensource. Nonetheless, end result is still usefull so definitely a checkout.

[sumantso]

Got through 150 again 

[tryingtobeperfect]

161
Again it will reach 200 very soon:)

[Benson Samuel]

This is not the correct price.

It seems to be a pump.

[Benson Samuel]

Explain!

We have not seen a stable $48 since it reached there. I would assume $78-88 as the fair price for 1 BTC based on the current infrastructure.

Mt Gox's prices are only speculation. If PayPal blocks out 1 Bitcoin transaction, it will fall.

I know it will rise like crazy again. This price up feels like a pump.

[Global BTC]

Mt Gox's prices are only speculation. If PayPal blocks out 1 Bitcoin transaction, it will fall.

What? Paypal has blocked numerous bitcoin transactions.

[Benson Samuel]

Mt Gox's prices are only speculation. If PayPal blocks out 1 Bitcoin transaction, it will fall.

What? Paypal has blocked numerous bitcoin transactions.

After todays release on Bloomberg :p

[dishwara]

Mt Gox's prices are only speculation. If PayPal blocks out 1 Bitcoin transaction, it will fall.

What? Paypal has blocked numerous bitcoin transactions.

After todays release on Bloomberg :p

You sure?
I think u understood wrongly
https://bitcointalk.org/index.php?topic=186364.0
http://thenextweb.com/insider/2013/04/24/paypal-president-is-fascinated-by-bitcoin-says-company-is-thinking-about-including-the-virtual-currency/

& google search says paypal thinking about ACCEPTING bitcoin

[Benson Samuel]

Mt Gox's prices are only speculation. If PayPal blocks out 1 Bitcoin transaction, it will fall.

What? Paypal has blocked numerous bitcoin transactions.

After todays release on Bloomberg :p

You sure?
I think u understood wrongly
https://bitcointalk.org/index.php?topic=186364.0
http://thenextweb.com/insider/2013/04/24/paypal-president-is-fascinated-by-bitcoin-says-company-is-thinking-about-including-the-virtual-currency/

& google search says paypal thinking about ACCEPTING bitcoin

This is what I am trying to say.

PayPal has not yet agreed that it can be used for Bitcoin.

The price is being driven up by hope. The same hope that saw LTC crash 300%