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Author Topic: How long does it take for bitcoin value to double??  (Read 7450 times)
sgbett
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April 09, 2013, 04:48:04 PM
 #41

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares? Smiley




i dont get it. please enlighten me?

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April 09, 2013, 04:49:37 PM
 #42


+1

i am a student of modern history.
but i don´t need to ask my professor to know. we are making history. either way. tulips?

it´s not a bubble. its cryptotulipical
nobbynobbynoob
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April 09, 2013, 04:55:14 PM
 #43

RE Berkshire Hathaway shares
i dont get it. please enlighten me?

Looks like a fair example of a market that's almost permabullish to me.

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April 09, 2013, 05:00:39 PM
 #44

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares? Smiley
I know that corporation, but in your graph I fail to see any tenfold increase in a matter of weeks neither a hyperbolical growth slashing doubling times by half into a matter of days.
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April 09, 2013, 05:04:01 PM
 #45

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares? Smiley

Please tell me you not trying to justify Bitcoin's growth by comparing it to company that specializes in long term investments in companies notably eschewing even the most successful technology stocks, never-mind currency experiments like Bitcoin.

Warren Buffet wouldn't touch Bitcoin with a barge pole.
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April 09, 2013, 06:15:29 PM
 #46


Warren Buffet wouldn't touch Bitcoin with a barge pole.

His son probably does.

In Cryptography we trust.
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April 09, 2013, 08:03:07 PM
 #47

Question:  How long does it typically take for the USD exchange rate of bitcoin to double?

Answer:
Start_rateEnd_rate#_of_daysDates
$3.125$6.251942011-12-01 to 2012-06-15
$6.25$12.51632012-06-15 to 2012-11-25
$12.5$25792012-11-25 to 2013-02-12
$25$50302013-02-12 to 2013-03-18
$50$100142013-03-18 to 2013-04-01
$100$20082013-04-01 to 2013-04-09


Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400?

This post just made me cash out.  I just sold almost all my bitcoins on MtGox for $236 each.  I'm going to use the dollars to pay off debt.

I don't understand the price appreciation.  If I had money right now to invest I would not buy bitcoins.  Thus I shouldn't keep my bitcoins because the dollars are more valuable to me.  If the price does collapse I will be glad to have taken this move.  If the price keeps doubling every day or so then I will just wonder why?  I don't think I will ever understand it.  It challenges my very conception of what value is.
samurai1200
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April 09, 2013, 08:23:24 PM
 #48

I just sold almost all my bitcoins...

I don't understand the price appreciation.

Oops.  Roll Eyes

Hodl for the longest tiem.

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April 09, 2013, 08:32:17 PM
 #49

I wish we could make everyone here post the last position they took on bitcoin underneath their name....

BTCLuke
Bought at $3
Still holding

sgravina
Sold at $236
Scared shitless


Wouldn't that be useful? Let's start a petition.

Luke Parker
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April 09, 2013, 08:33:58 PM
 #50

Question:  How long does it typically take for the USD exchange rate of bitcoin to double?

Answer:
Start_rateEnd_rate#_of_daysDates
$3.125$6.251942011-12-01 to 2012-06-15
$6.25$12.51632012-06-15 to 2012-11-25
$12.5$25792012-11-25 to 2013-02-12
$25$50302013-02-12 to 2013-03-18
$50$100142013-03-18 to 2013-04-01
$100$20082013-04-01 to 2013-04-09


Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400?

This post just made me cash out.  I just sold almost all my bitcoins on MtGox for $236 each.  I'm going to use the dollars to pay off debt.

I don't understand the price appreciation.  If I had money right now to invest I would not buy bitcoins.  Thus I shouldn't keep my bitcoins because the dollars are more valuable to me.  If the price does collapse I will be glad to have taken this move.  If the price keeps doubling every day or so then I will just wonder why?  I don't think I will ever understand it.  It challenges my very conception of what value is.


but it will keep going for an entire week. you miss 3x double...  
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April 09, 2013, 08:34:45 PM
 #51

I just sold almost all my bitcoins...

I don't understand the price appreciation.

Oops.  Roll Eyes

yerp.  those with eyes to see will see clearly.  those with ears to hear will listen correctly and receive the correct message, and hopefully act accordingly.

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Malawi
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April 09, 2013, 08:38:39 PM
 #52

Question:  How long does it typically take for the USD exchange rate of bitcoin to double?

Answer:
Start_rateEnd_rate#_of_daysDates
$3.125$6.251942011-12-01 to 2012-06-15
$6.25$12.51632012-06-15 to 2012-11-25
$12.5$25792012-11-25 to 2013-02-12
$25$50302013-02-12 to 2013-03-18
$50$100142013-03-18 to 2013-04-01
$100$20082013-04-01 to 2013-04-09


Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400?

This post just made me cash out.  I just sold almost all my bitcoins on MtGox for $236 each.  I'm going to use the dollars to pay off debt.

I don't understand the price appreciation.  If I had money right now to invest I would not buy bitcoins.  Thus I shouldn't keep my bitcoins because the dollars are more valuable to me.  If the price does collapse I will be glad to have taken this move.  If the price keeps doubling every day or so then I will just wonder why?  I don't think I will ever understand it.  It challenges my very conception of what value is.


Even though I see your point, and I think this is a bubble, I would not have sold more or less everything. But then again, I would already have sold several smaller posts as I think this rate is unsubstainable in the short run.

BitCoin is NOT a pyramid - it's a pagoda.
DannyHamilton
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April 09, 2013, 09:01:11 PM
 #53

I wish we could make everyone here post the last position they took on bitcoin underneath their name....

BTCLuke
Bought at $3
Still holding

sgravina
Sold at $236
Scared shitless


Wouldn't that be useful? Let's start a petition.


Would making a purchase using bitcoin be considered a "position"?

If someone makes a purchase valued at $1000 at the time, and uses bitcoin to pay for that purchase, should that be considered the same as taking a position of "selling" at whatever the rate was at the time of purchase?

nobbynobbynoob
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April 09, 2013, 09:51:10 PM
 #54

Would making a purchase using bitcoin be considered a "position"?

If someone makes a purchase valued at $1000 at the time, and uses bitcoin to pay for that purchase, should that be considered the same as taking a position of "selling" at whatever the rate was at the time of purchase?

For the individual using that bitcoin I suppose the end result would be pretty much the same either way. But purchasing real products with bitcoin rewards and helps bitcoin businesses, and thereby the currency and economy as a whole.

Personally, I generally "don't do" buying fiat with my BTC but I do buy stuff with BTC from time to time.

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April 09, 2013, 10:07:06 PM
 #55

Start_rateEnd_rate#_of_daysDates
$3.125$6.251942011-12-01 to 2012-06-15
$6.25$12.51632012-06-15 to 2012-11-25
$12.5$25792012-11-25 to 2013-02-12
$25$50302013-02-12 to 2013-03-18
$50$100142013-03-18 to 2013-04-01
$100$20082013-04-01 to 2013-04-09
$200$40042013-04-19 to 2013-04-23
$400$80022013-04-23 to 2013-04-25
$800$1,60012013-04-25 to 2013-04-26
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April 09, 2013, 10:07:25 PM
 #56

My personal thesis is we need a correction at some point. I think we're near one now. The next 24 hours for me will be illuminating.

If we do achieve some crazy valuation like $1,000 - I'll have to reconsider, but for now I'm very apprehensive about a chart that looks insane on the LINEAR scale and the LOG scale.

The trader inside me is saying "cover and hunker down". I'd recommend you cover what you're comfortable with, because it is getting very nutty out there.

fortitudinem multis - catenum regit omnia
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April 09, 2013, 10:40:11 PM
 #57

Demonetization in this way is impossible. It will cause hyperinflation of fiat too and in result BTC will devaluate together with fiat in the end. But some people will loose all money while others will get fortunes, it will also destabilize markets. Goverment will simply ban BTC. All this ride started one or two days after legalizing BTC (i have stupid guess that this move was to spite China) and might stop like this.
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April 09, 2013, 11:33:39 PM
 #58

Demonetization in this way is impossible. It will cause hyperinflation of fiat too and in result BTC will devaluate together with fiat in the end. But some people will loose all money while others will get fortunes, it will also destabilize markets. Goverment will simply ban BTC. All this ride started one or two days after legalizing BTC (i have stupid guess that this move was to spite China) and might stop like this.

This will probably be as effective as the government "simply banning" various drugs... or guns in Chicago... or driving over 55/65/70 mph on an empty highway in Nebraska...

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April 10, 2013, 11:50:26 AM
 #59

Agree that its impossible to completely stop bitcoin, but it will pop the bubble as exchanges, bitpay etc will be forbiden too.
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April 10, 2013, 12:15:21 PM
 #60

Agree that its impossible to completely stop bitcoin, but it will pop the bubble as exchanges, bitpay etc will be forbiden too.

They would thrive online by operating out of territories where bitcoin is at least legal if not encouraged, the way that online gaming does now. But buying/selling bitcoin would become somewhat trickier in banned countries, for sure.

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