Just for fun - what 9% daily growth looks like on a chart *if* it carried on :)

[ManBearPig]

Someone asked, so if we double every 8 days, how close is the singularity?

I ignored the bit about the doubling increasing in frequency because THAT would be even freakier.

:p

[chrsjrcj]

Looks like I can put in my 2 weeks notice around mid-June. Thanks OP.

  

[BitcoinTate]

Looks like I can put in my 2 weeks notice around mid-June. Thanks OP.

  

lol! We have reached the Bitcoin "hysteria" phase.

[ManBearPig]

Haha, I updated with notable prices (for me).

Very good mood today

[evolve]

That chart shows exactly why this exponential growth we are experiencing is unsustainable. A lot of people are going to get burned when this whole thing comes crashing down.

[ManBearPig]

That chart shows exactly why this exponential growth we are experiencing is unsustainable. A lot of people are going to get burned when this whole thing comes crashing down.

Of course it's unsustainable, I completely agree

That doesn't mean it's going to crash - a retraction - sure.

Profit-taking, sure.

Crash to zero in the near future?

My money's on "nah".

[evolve]

I doubt it will go to zero anytime in the near future, but all this new money coming in can exit just as quick in a panic.  We've seen 20% drops in value in an hour within the last couple of months, and those were just small selloffs...imagine the damage a real panic will do.  I think its entirely possible to see singles again.

[Zangelbert Bingledack]

Exponential growth will continue, long-term, since the fundamentals are improving exponentially. Double exponential growth cannot conitinue more than a few more days, after which we'd have a massive correction - though maybe down to higher than we are now.

[w1R903]

Someone asked, so if we double every 8 days, how close is the singularity?

I ignored the bit about the doubling increasing in frequency because THAT would be even freakier.

:p

This is brilliant.  Haven't laughed so hard in a long time.  Tipped!

[Stampbit]

So by the end of summer i should be able to buy every fortune 500 company and over a dozen micro nations? Can someone point me to a btc-accepting deathstar merchant?

[Ozymandias]

I doubt it will go to zero anytime in the near future, but all this new money coming in can exit just as quick in a panic.  We've seen 20% drops in value in an hour within the last couple of months, and those were just small selloffs...imagine the damage a real panic will do.  I think its entirely possible to see singles again.

Can you remind me what happened almost every single time about 2-3 hours after those 20% crashes? My memory is a little fuzzy.

[ManBearPig]

This is brilliant.  Haven't laughed so hard in a long time.  Tipped!

Haha great, thanks kindly - that's half a beer - off to spend it now (in fiat of course)!

[sd]

This is brilliant.  Haven't laughed so hard in a long time.  Tipped!

Haha great, thanks kindly - that's half a beer - off to spend it now (in fiat of course)!

Just wait 3 months and you will be able to buy interbrew with it.

[Luno]

This is history in the making. Bitcoin has earned it's place in the history books as the highest preforming asset ever.

How was it Nicolae Ceauşescu ended his rule in Romania on Christmas eve 1989?:

His communist dictatorship luxurious lifestyle had angered most of the population living in poverty and hunger so like 70% of the population got caught up in a nationwide lottery ponzi.

When the pyramid collapsed, social unrest became a revolt and he fled, got caught and was shot with his wife in a backyard.

So the size of Bitcoin now makes it disruptive, even if expectations are way overblown, a failure can have consequences beyond the investors.

So what is this? why hasn't there been any politicians expressing concerns, or are we expecting that anytime soon?

This is not a speculation post, but normally when some game changing technology takes off, politicians are fast to express support or concern. (Al Gore doesn't count). the complete silence makes me wonder if this is being used as an intelligence tool on more than Silk Road?

How was that for a "call the top" post?

[evolve]

Can you remind me what happened almost every single time about 2-3 hours after those 20% crashes? My memory is a little fuzzy.

MtGox lag kicked in enough to slow the freefall and the price was bought back up. MtGox can only help prop the price for so long, however.

Even ignoring any potential market manipulation by Gox, 20% drops in an hour is not a sign of a healthy market, even if the price eventually recovers.