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Author Topic: CNN : The Bitcoin Bubble Re-Inflates  (Read 2173 times)
the founder
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April 19, 2013, 01:30:34 PM
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BItcoin prices are back in rally mode, just one week after it looked like the bubble had started to burst.

Early Friday, Bitcoin prices traded as high as $136.43 before pulling back to $119.36. That's more than double this week's low of $50.

Trading volume doubled in just two hours.

The price of the virtual currency, which was created by an anonymous hacker just four years ago, has increased almost 20-fold this year. It gained particular attention in the wake of a mini-bank run in Cyprus, which had raised concerns about the health of government-backed paper currencies like the euro and the U.S. dollar.

http://money.cnn.com/2013/04/19/investing/bitcoin-prices-rally/

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April 19, 2013, 04:31:57 PM
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and they will continue to be surprised.
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April 19, 2013, 05:02:38 PM
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This is good stuff. A lot of people probably thought that they had heard the last of Bitcoin after the "crash", yet here we are - Bitcoin still going strong. The media can only do so many "Bitcoin bubble" stories, at some point people capable of thinking for themselves are going to make the conclusion that maybe it's not a bubble when it just refuses to pop and go away.

By the way, CNN Money also did an article "I lost $50,000 in Bitcoin crash, but I'm still a believer" which is linked there. And that's just dreadful writing once again, the guy couldn't possibly have lost 50k when he's only invested 4k in total. Another way to look at it is that he turned 4k into 20k, but that's not the TENS OF THOUSANDS OF DOLLARS LOST headline CNN was looking for.

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April 20, 2013, 12:38:46 AM
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I would love to secretly replace the mt gox ticker with the output of a random function and watch the analysis on this forum and from the media as the price lurched around.
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April 20, 2013, 12:43:04 AM
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Bitcoins will continue to climb again I am confident ! Smiley
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April 20, 2013, 01:04:32 AM
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which was created by an anonymous hacker

I have noticed this being mentioned more in the government media lately.

Taking either the original definition of hacker or the newer derogatory term for hacker, Satoshi does not fit either.

He wrote a computer program on his own computer and then released it to the world.

The original term for hacker referred to someone who would go into other people's computer systems to check things out and discover things that other people were doing, even hacking into a software program to see what it does and change things to learn more about it.

The new media term refers to people who break through security of other people's computer systems and cause mischief.

Satoshi was neither.

Am I to be considered a hacker because I write computer programs for my company?

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April 20, 2013, 03:22:50 AM
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which was created by an anonymous hacker

I have noticed this being mentioned more in the government media lately.

Taking either the original definition of hacker or the newer derogatory term for hacker, Satoshi does not fit either.

He wrote a computer program on his own computer and then released it to the world.

The original term for hacker referred to someone who would go into other people's computer systems to check things out and discover things that other people were doing, even hacking into a software program to see what it does and change things to learn more about it.

The new media term refers to people who break through security of other people's computer systems and cause mischief.

Satoshi was neither.

Am I to be considered a hacker because I write computer programs for my company?

ive also noticed this and im not a fan of people using this term. especially when mainstream media usually uses the term hacker is criminal. i worry a lot of mainstream people will hear the word hacker and the fact that no one knows who satoshi is and be turned off.  all it takes is one looney politican to hear this and go on a rampage about how bitcoin was created by hackers and silk road an blah blah blah...protect the kids!

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April 20, 2013, 03:31:48 AM
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which was created by an anonymous hacker

I have noticed this being mentioned more in the government media lately.

Taking either the original definition of hacker or the newer derogatory term for hacker, Satoshi does not fit either.

He wrote a computer program on his own computer and then released it to the world.

The original term for hacker referred to someone who would go into other people's computer systems to check things out and discover things that other people were doing, even hacking into a software program to see what it does and change things to learn more about it.

The new media term refers to people who break through security of other people's computer systems and cause mischief.

Satoshi was neither.

Am I to be considered a hacker because I write computer programs for my company?

To be frank, they're the only ones using this term incorrectly; I believe they're doing it on purpose.  What's so wrong about referring to Satoshi as he is?--a programmer.  Most everyone (except Linux enthusiasts I suppose) considers a hacker to be a criminal who compromises the security of various computer systems.  Funny how they picked up the unpopular term in lieu of the accepted term.  Is Zuckerberg a hacker, too?  According to wiki:
Quote
Mark Zuckerberg (born 1984), American programmer and internet entrepreneur, founder of Facebook

The media should also refer to him as a hacker.  But it's cool, because he didn't invent satan money, and Facebook is generally accepted; hell, it's encouraged, since CISPA's about to reap the benefits of that.

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April 20, 2013, 03:50:42 AM
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April 20, 2013, 03:29:15 PM
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I would love to secretly replace the mt gox ticker with the output of a random function and watch the analysis on this forum and from the media as the price lurched around.

You should input some random 'lag' and 'hack attack aka ddos' gifs with appropriate snail or flame animation in the background as well.
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April 20, 2013, 09:35:02 PM
 #11

BItcoin prices are back in rally mode, just one week after it looked like the bubble had started to burst.

Early Friday, Bitcoin prices traded as high as $136.43 before pulling back to $119.36. That's more than double this week's low of $50.

Trading volume doubled in just two hours.

The price of the virtual currency, which was created by an anonymous hacker just four years ago, has increased almost 20-fold this year. It gained particular attention in the wake of a mini-bank run in Cyprus, which had raised concerns about the health of government-backed paper currencies like the euro and the U.S. dollar.

http://money.cnn.com/2013/04/19/investing/bitcoin-prices-rally/


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April 21, 2013, 05:30:31 PM
 #12

BItcoin prices are back in rally mode, just one week after it looked like the bubble had started to burst.

Early Friday, Bitcoin prices traded as high as $136.43 before pulling back to $119.36. That's more than double this week's low of $50.

What will be funny is if there's another mini-bubble now up to 180, then 'crash' back to 60, and then a new rise, then the headlines will read: The Bitcoin Bubble Re-re-inflates. lol
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