I sold everything at $158/159 this morning

[jasonjm]

To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).

if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159

you just need to look at the naivete of the posts on this board to know this is a sucker rally.

"i'm loaning money to ....."
" I save $200 a month and im putting it all in bitcoins ...... "
"we are revolutionaries......."


good luck to all the future bitcoin millionaires :-)

[naphto]

nice life bro

[zif33rs]

Please check back in a year and let me know how that worked out for you.

[xDreamsLivex]

See you in a year

[yvv]

Yeah, I also sold all bitcoins today (all 1318) and set buy order at $27. See you soon, suckers 

[fredtrader]

To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).

if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159

you just need to look at the naivete of the posts on this board to know this is a sucker rally.

"i'm loaning money to ....."
" I save $200 a month and im putting it all in bitcoins ...... "
"we are revolutionaries......."


good luck to all the future bitcoin millionaires :-)

Unlike most the bitcoin "investors" I think you are probably right, bitcoin is in a bubble, I don't think the currency will ever just die out and it could become a lot more popular than today but at the current usage the price is definitely overpriced.

[MikeH]

I bet it hits $1000 before we see $100 again.

[Wekkel]

Good. As long as there is fear of a bubble, there is room for more.

[kelly153]

You could be right or WRONG. We will see this later :-)

[zoolander]

To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).

if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159

you just need to look at the naivete of the posts on this board to know this is a sucker rally.

"i'm loaning money to ....."
" I save $200 a month and im putting it all in bitcoins ...... "
"we are revolutionaries......."


good luck to all the future bitcoin millionaires :-)

I've just sold out today as well @$159, though purely to cover most of the cost of my original investment - still holding a very modest amount of coins. Only upside for me here on out and have a nice bit of fiat standing by for any serious correction.

However, I'm far from convinced that the stupid money is exhausted at this point. Could be a long way to go.

[Sander]

Unlike most the bitcoin "investors" I think you are probably right, bitcoin is in a bubble, I don't think the currency will ever just die out and it could become a lot more popular than today but at the current usage the price is definitely overpriced.

Overpriced or not, I think it's going up a bit more. Reason for this is the sudden publicity that bitcoin got after this Cyprus induced value increase, attracting a load of new potential bitcoiners. After that the bubble might burst, but not after a second takeoff.
But that's my guess, which is as good as pulling a straw.

[zoolander]

Looks like $159 was might have been pretty near the top of pump that has been playing out today. Called it right.

Wouldn't be surprised if there is another DoS attack on Gox.

[DirtyGoldMan]

The best time for a person to sell is when they make up their mind to sell. That's what makes a market. It there wasn't any sellers willing to sell, there wouldn't be any buyers that could buy.

[Orgonix23]

All it will take to send bitcoin to even greater highs is the next scandal in the the fiat markets.  Shouldn't take too long.  Bitcoin could be in a bubble, but the top of the bubble could be in thousands of dollars value.  More and more people are getting screwed by these central bank currency's, and despite the BS reporting of CNN and the likes, the masses are slowly waking up. 

[24change.com]

I bet it hits $1000 before we see $100 again.

How much you can bet?)

[Caesar V]

Heh, thanks for selling. Enjoy your money   

[trdiablo]

Bitcoin is not a bubble that will burst for the very simple reason that the demand will increase in the coming years.


There are new sites every day that accept bitcoins, including big ones. People living in of the 80+ countries that Paypal doesn't support can now turn to Bitcoins and pay with Bitcoins on sites like Wordpress. This increases demand as it gets more awareness.

The customers of tor sites like Silk Road and Black Market Reloaded is increasing monthly, thus increasing the demand.

People that send money to other continents (other currencies) have to pay a lot of taxes, costs and on top of that wait days if not weeks before the money reaches the other person. These people (mostly of our generation) will prefer to use bitcoins instead of their local country currency.

The first Bitcoin ATMs are coming out soon, maybe this year already.

You have to look at he bigger picture here. Bitcoins value will not drop significantly, it will just go up. Even if bitcoins would go below 80$ there would be so many people buying BTC (including me) that it will immediately drive the price up again.

Bitcoin is now at the beginning, in the 3 to 5 years I am confident the value will be close to at least 1000$ each. In the next 5 to 10 years it will go towards 5000$ each.

[FuriousTeam]

yes what is sure is this payment method will be present in more and more sites very soon and creating a high demand for users to pay with BTC

[zoolander]

Bitcoin is not a bubble that will burst for the very simple reason that the demand will increase in the coming years.


There are new sites every day that accept bitcoins, including big ones. People living in of the 80+ countries that Paypal doesn't support can now turn to Bitcoins and pay with Bitcoins on sites like Wordpress. This increases demand as it gets more awareness.

The customers of tor sites like Silk Road and Black Market Reloaded is increasing monthly, thus increasing the demand.

People that send money to other continents (other currencies) have to pay a lot of taxes, costs and on top of that wait days if not weeks before the money reaches the other person. These people (mostly of our generation) will prefer to use bitcoins instead of their local country currency.

The first Bitcoin ATMs are coming out soon, maybe this year already.

You have to look at he bigger picture here. Bitcoins value will not drop significantly, it will just go up. Even if bitcoins would go below 80$ there would be so many people buying BTC (including me) that it will immediately drive the price up again.

Bitcoin is now at the beginning, in the 3 to 5 years I am confident the value will be close to at least 1000$ each. In the next 5 to 10 years it will go towards 5000$ each.

Do you really think that there isn't any way that Bitcoin can fail, in the short, medium or long term?

In my professional work I help advice start ups and even the ones that have a good product or service have a very high rate of failure. Less than 26% of Silicon Valley startups make it beyond a few years - and they are the ones that secured their first major investment round. We are still very much in the experimental phase and there are many many hurdles before we can say Bitcoin is here to stay.

The only thing I would bet on is that crypto currencies in some form are probably not going away - that is very exciting. Whether or not it is Bitcoin is another thing. First movers are rarely the winners. E.g. Facebook > Myspace > Friendster.

I actually expect to see a family of crypto currencies emerge in the next few years, all with unique properties that meet the various needs we have.

[yvv]

When will you start selling all your bitcoins, assholes? I want to buy some more at below $30