Is anyone worried how fast BTC is climbing in price?

[trinaldao]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway? 

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

[MAbtc]

I'm a bit worried. 

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though. 

[nobbynobbynoob]

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. (Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

[trinaldao]

I'm a bit worried. 

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though. 

This is parabolic now is it not?

[MAbtc]

I'm a bit worried.  

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though.  

This is parabolic now is it not?

Hmmm. Yes, I suppose so. We're obviously consolidating right now, so I'll say, i still got plenty to sell if this continues to go parabolic after we consolidate. Could go either way, though, from here.

[trinaldao]

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. (Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

I totally agree, Gold (though, the price is totally manipulated nowadays) and bitcoin (and a basket of currencies GBP/YEN/EUR/CHF and AUD) you will know its going south.

But for gold it's easy to know whats happening now.  Governments colude to keep it down to avoid panic.  This baby (printing fiat like there is no tomorrow) will keep working as long as suckers are buying it.  So far its the chinese, but there are a lot of other countries buying it to.

HOWEVER, if BTC is now being manipulated, in order to keep selling the Miners, that would not be a hard thing to do at all.   To get a bit of momentum going.  

I think the difficulty level increase on Friday was a catalyst point.  For the very first time, a shit load of KnC pre-buyers just got a new caluculation as to how BAD their investment was.  

So somebody had to do something.  I watching ebay.co.uk on the day, and the bids were going up up up and away for IN HAND BFL/KnC miners.  But when the difficulty went up, the bids dried up FAST.  It was crazy,

http://www.ebay.ie/itm/Knc-Miner-Saturn-IN-HAND-Bitcoin-Asic-275-Gh-sec-/251357439341

The Bids for this Saturn were going for like 2 TIMES the price of a Jupiter.  Then when difficulty rose, the bids seemed to stop and people started getting cooler heads.

So, I guess, KNC/BFL/ETC (Since they have all this extra money now laying around in pre-orders) might have had a temptation to spark some momentum and raise the price, so it would seem like mining was still a profitable experience.

But SHIT, are you trying to tell me that Jupiter and Saturn are profitable when we are in a parabolic state?

i think a lot of people are going to get hurt.

Then again, maybe this is going to go the way of the internet stocks and google, and we see BTC at 900 very shortly, because the current moment got some international news coverage.

i dunno, all i know, is that THIS is the way we do it on equities.  We start momentum and get PR all over it.  And sell HI

BTC is being raped I think.  Because we are able to manipulate it with FIAT.  I don't think Wei Dei (or satoshi) though of this one!!

Price of BTC = Mining PreOrder Sales/difficulty level LOL

[Spaceman_Spiff]

So,
Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.
Is this not worrying anyone?
Who is injecting all this money anyway?  
Is the ASIC producers in China trying to keep the value up to sell the miners?
It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?
We are losing stability here, I think.

Let me offer some perspective:
http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zl

And no, looking in log-scale is not "cheating".  Going from 1 to 1.8 is just as spectacular as going from 100 to 180.

[SheHadMANHands]

Some perspective (note we're down from $172 to $164 almost 2 days ago).  "Losing stability"?

[Spaceman_Spiff]

Some perspective (note we're down from $172 to $164 almost 2 days ago):

Are you my long lost doppelganger?  And if so, are you the evil of the good one ?  

[Elwar]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway? 

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

The Silk Road crash jerked us out of stability. The price is trying to find its new home.

[SheHadMANHands]

Some perspective (note we're down from $172 to $164 almost 2 days ago):

Are you my long lost doppelganger?  And if so, are you the evil of the good one ?  

hey hey hey...  beat me to it. 

[trinaldao]

The Silk Road crash jerked us out of stability. The price is trying to find its new home.

I think the Silk Road Incident, was just capitulation.  When there is capitulation in the markets the price usually goes up (or down depending on the trend)


Does anyone have the figures for these charts?!?!  If I could get my hands on the

OHLC  (open-high-Low-close)  I can input it into my MetaStock EoD and analyse the charts.

The longer further back the better.

But I think it is the traders of BTC that is messing this up, they dont have to follow any rules here, it is out of the SEC (or any legal body's) jurisdiction.

With the added danger that BTC is getting the same level of Television Coverage as GM during Distribution Periods.

i just found the RAW DATA thanks to you guys, I will put a proper LOG chart

[SheHadMANHands]

Adoption curve?       

[600watt]

awesome, please put it in memespeculation thread! 

[BitcoinAshley]

There are still SO many people who think parabolic is the only possible shape for price increases. S-shape is a perfectly viable option. And seeing as we aren't at the bottom of the $13-$266 jump, that wasn't parabolic in the sense that most people use the word.

"What goes up must come down" - yes but in what time-frame?

You could say the AM radio has become obsolete but there is one in almost every automobile in existence, as well as on countless portable CD/radio devices. It's so ubiquitous we don't even think about it anymore. S-shape.

Watch out for people who start out with an unstated assumption that parabola is the only possible shape for price moves, without even entertaining any other possibilities.

[imrer]

There are many peoples who don't know bitcoin yet so I believe price will be much higher than now. I don't worry about it.

[johnyj]

Difficulty jumps at least 30% every 10 days, but we are just start to see a 30% rise in price since September, very reasonable pace

[the joint]

Some notes to remember about Bitcoin.

1) It's a different market, and the world hasn't seen one like it as far as I'm aware.  Thus, to make the assumption that you can analyze or predict the economy based upon effective market analysis tactics in the same way that you would analyze fiat currencies or the gold markets isn't necessarily true.

2) If you do some research about Bitcoin and simply look at the math behind it, mass adoption of Bitcoin would likely necessitate the formation of what would appear to be some of the most gargantuan bubbles ever seen.  Hell, even an influx of only 1% of the worlds GDP over the course of a few years would create a 'bubble' so large that our heads would be spinning in euphoric delirium.

3) New systems, let alone economic ones, are prone to mass instability/volatility.  They have to be, and this is an inevitable result between the ratio in size between the smaller system and the larger system(s) in which it is nested, and with which it receives and relays its inputs and outputs.  As systems grow and become more balanced, the effects of "extreme cases" (in Bitcoin, these are your whales and your 'manipulators') are minimized.

TL;DR:  If you've been around this market for more than a year or two, $20-$30 swings in a day isn't very shocking...you just take this into account when safeguarding your assets.

[sinner]

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. (Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

[trinaldao]

Difficulty jumps at least 30% every 10 days, but we are just start to see a 30% rise in price since September, very reasonable pace

Is there a correlation you think?  I mean apart from possible ASIC companies pushing up price, so their business model does not fail?

Here is the 2013 chart I put together (you need FireFox to view though)

[maursader]

I'm not shocked at the price gains. I think it's moreso the market movements.  Markets with the higher volumes, and more aggressive volumes, are the ones that will win in the long run.. and by win, I mean, control the overall price through leading other markets (Gox for example, 2 years ago).

[Zaih]

Chinese investment

[Zangelbert Bingledack]

S-curve of course, but that S doesn't start inflecting until wayyyyyyyy later, like when a significant percentage of the population owns a significant amount of BTC.

[600watt]

S-curve of course, but that S doesn't start inflecting until wayyyyyyyy later, like when a significant percentage of the population owns a significant amount of BTC.

you know that bitcoin is mainstream when...

-there are loads of bitcoin magazines at the newsstands
-there are bitcoin tv shows on every channel
-the taxman starts accepting payments in btc
-a bitcoin wallet is a feature of windows 10
-reports about the first trillionaires hit the news
-your kid demands its pocket money in btc
-your grandma starts mining altcoin

[nobbynobbynoob]

-your grandma starts mining altcoin

LOL!

One of my grandmothers is pretty much 100 years old, and surprisingly sharp and sprightly for someone whose lifespan covers what appears to most of us like almost an eternity, but she barely manages to use a PC with dial-up modem to be honest. I can just envisage her setting up a bank of LTC FPGAs... hahaha...

[leannemckim46]

The price is going up too fast. High risk of bubbling.

[DoomDumas]

I'm a bit worried. 

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though. 

This is parabolic now is it not?

To keep a realistic eye on the price, we must use a log scale graphic.. 1$ to 10$ is tenfold, as from 10$ to 100$, 100$ to 1000$.. That's why the log scale grapghic are way more realistic, from an investment point of view.

I dont see any parabolic or bubble here yet :

[lucas.sev]

I'm a bit worried. 

Took some decent profits already... had to, really. It went up so quickly while I was sleeping I couldn't move my limit orders... still got plenty to sell if this goes parabolic, though. 

This is parabolic now is it not?

To keep a realistic eye on the price, we must use a log scale graphic.. 1$ to 10$ is tenfold, as from 10$ to 100$, 100$ to 1000$.. That's why the log scale grapghic are way more realistic, from an investment point of view.

I dont see any parabolic or bubble here yet :

Whats on the y axis?

[Tzupy]

Y axis are $, but some are missing a 0.

[DoomDumas]

1 year !




sorry for the bad crop in the previous post !

[Herp]

No. Second Market entering bitcoin market can easily quadruple the price in just few months. $200 is peanuts.

Bitcoin has yet a long way to go to reach the market can of Angry Birds., which is around $7 billion http://www.dailymail.co.uk/sciencetech/article-2141123/Angry-Birds-creators-float-stock-market-5-5-BILLION-puzzle-game-hits-200-million-users-month.html

Bitcoin barely made it past $2billion.

[maursader]

No matter what the charts say, it's all about supply, demand, support and resistance, right? If there's too much resistance, that $1000/btc price will be a dream.. and $200, a reality. Just my $0.05 (since we don't have pennies in canada anymore!)

[balanghai]

200 Mark is not too far! 

[Hfleer]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway? 

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

Interesting theory about the ASIC producers, i'm not sure it's a viable strategy with all the competition though.

[Hfleer]

Nope, I don't trade bitcoin for "useless" fiat fraudster paper very often. I do flip altcoins, however. In future speculation I will keep a close eye on the gold price too, because if both bitcoin and gold are exploding versus USD, that is a clear sign of USD collapsing rather than commodities simply bubbling up.

You wouldn't want to buy my cold-stored bitcoin from me anyway because you can buy it on an exchange like Bitstamp or Coinbase for less than 0,1% of the price. (Put another way, by the time my time comes round to selling BTC en masse, there won't be any need to.)

But for gold it's easy to know whats happening now.  Governments colude to keep it down to avoid panic.  This baby (printing fiat like there is no tomorrow) will keep working as long as suckers are buying it.  So far its the chinese, but there are a lot of other countries buying it to.

Yup printing fiat seems to be working real well for the Government, taxing alone is not going to cover the spending. 

[RodeoX]

I'm not "worried", but I do think a crash of some kind will follow this rise. That is the nature of the game. No worries. Long term we look great right now.

[Hfleer]

There are still SO many people who think parabolic is the only possible shape for price increases. S-shape is a perfectly viable option. And seeing as we aren't at the bottom of the $13-$266 jump, that wasn't parabolic in the sense that most people use the word.

Yes S-shape makes good sense eventually, hadn't thought of that.  I've seen it before a few times but have forgotten about it.

[Zangelbert Bingledack]

MtGox 1-year chart showing volume bars in USD (keep in mind that MtGox dominance has been dropping in terms of volume as well).

The curve looks a bit steep, similar to the middle of the last bubble rather than the beginning, so we may be in for a sort of half-bubble, where we go up only 5x or so before peaking. Or we might consolidate soon for a while, maybe with some corrections thrown in, and then continue to have an epic melt-up.

[DoomDumas]

I'm wondering.. Maybe it's not that BTC appreciate that much, but maybe more poeples are understanding that the actual fiat-printing-currency system is on the verge of total faillure (currently slowly falling appart).

Maybe BTC will worth 10k$, but a bread will cost 120$ and we will earn around 300$ by hour of work.

If USD loses value, BTC gains by simple math.  Add this to the fast evolution of business, coupled by the fact that less than 1% of the world population really know what BTC is..

Next years will be very very interesting.

[MAbtc]

I'm wondering.. Maybe it's not that BTC appreciate that much, but maybe more poeples are understanding that the actual fiat-printing-currency system is on the verge of total faillure (currently slowly falling appart).

No. I am quite confident that this is not what is happening, on any level. At all. We're a long ways away from there, I think.

[windjc]

Well at this point China is dragging the markets along with it. It's really in the hands of the Chinese how far this rally goes and how long it lasts. If the Chinese want to take us to 10k cyn they can do that.

But long term this rally is unsupported by anything "real".   I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

Instead we are on a Chinese roller coaster. And trying to predict where it's taking us short term is simply impossible.

[MAbtc]

Well at this point China is dragging the markets along with it. It's really in the hands of the Chinese how far this rally goes and how long it lasts. If the Chinese want to take us to 10k cyn they can do that.

But long term this rally is unsupported by anything "real".   I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

Instead we are on a Chinese roller coaster. And trying to predict where it's taking us short term is simply impossible.

This has pretty much been my feeling, too. I don't think there is much adoption or real support backing this rally -- just wild speculation in the Chinese market. When the bottom falls out there, it'll fall out here too, I think. Who the hell knows what's going on over there, though? 

[nobbynobbynoob]

This has pretty much been my feeling, too. I don't think there is much adoption or real support backing this rally -- just wild speculation in the Chinese market. When the bottom falls out there, it'll fall out here too, I think. Who the hell knows what's going on over there, though? 

Indeed, and what is so fun is that that could happen a week from now... or it might take more than five years. We just don't know, and we are mostly in the dark.

My personal opinion is that bitcoin is not particularly overpriced or bubblish right now, but if it suddenly decides to quintuple or more on little real news...

[CEG5952]

This has pretty much been my feeling, too. I don't think there is much adoption or real support backing this rally -- just wild speculation in the Chinese market. When the bottom falls out there, it'll fall out here too, I think. Who the hell knows what's going on over there, though? 

Indeed, and what is so fun is that that could happen a week from now... or it might take more than five years. We just don't know, and we are mostly in the dark.

My personal opinion is that bitcoin is not particularly overpriced or bubblish right now, but if it suddenly decides to quintuple or more on little real news...

btcchina chart looks parabolic to me..... it's bubble time! 

[Herp]

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

[Zangelbert Bingledack]

There are quite a large number of possible drivers here. It could be almost all Second Market, with a dash of China. It could be almost all a few people's foreknowledge of IMF haircuts, with a dash of China. It could be just that some whales were holding off until SR got shutdown. There are so many big reasons. China is definitely at least a sizable chunk of it, though.

[Timzim103]

It's entertaining to watch the price climb. This time, I'm holding and will buy more when/if it crashes. I like to think I'm saving up for a sexy new Jeep but I'll probably end up buying a used mini-van. (need a kidmobile)

[rocks]

There are quite a large number of possible drivers here. It could be almost all Second Market, with a dash of China. It could be almost all a few people's foreknowledge of IMF haircuts, with a dash of China. It could be just that some whales were holding off until SR got shutdown. There are so many big reasons. China is definitely at least a sizable chunk of it, though.

The large number of possible drivers is the reason that BTC is almost guaranteed to go up significantly over time. There are almost 200 countries, all with fiat issues, and anyone could have a populace that decides to use BTC to hide from inflation (hello Argentina). Or there are any number of new investment vehicles who could drive the price. Or speculative bubble could be driven from any part of the world. Or a new larger black market could be founded based on BTC.

The possibilities are endless. All though drive BTC adoption into more people, which auto-deflates the currency. And unlike conventional PhD "wisdom", deflation is good for currency holders...

[Luckybit]

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

[crazy_rabbit]

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

Wait, master coin does what?

(Disclaimer: I own master coins)

Other then that- YES I am VERY worried how fast the price is climbing. As thrilling as it all is, the faster it climbs the harder it crashes tends to be my thoughts. If it's going to be a trillion dollar thing, I'm more then happy to wait ten years for it.

[scarsbergholden]

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

Wait, master coin does what?

(Disclaimer: I own master coins)

Other then that- YES I am VERY worried how fast the price is climbing. As thrilling as it all is, the faster it climbs the harder it crashes tends to be my thoughts. If it's going to be a trillion dollar thing, I'm more then happy to wait ten years for it.

exactly how i feel. we're going up so fast, it's starting to feel like april. gosh, watching it crash below 200 down to 50 was an incredible and sickening feeling!

[fleabag]

why should you worry? as long as there are bag holders this pyramid scheme will carry on.

[fleabag]

i am worried. 

[SheHadMANHands]

Bunch of little bitches in this thread.  Man up. 

We're not crashing to $50, without some remarkably (emphasis) bad news.  SR news and panic brought us to $90 on stamp for a split second, before very quickly bouncing back to $120, and it's difficult to think of a worse event that would cause such a panic sell-off.

Maybe see a test when we rear end $300. :-)

[MoreFun]

Bunch of little bitches in this thread.  Man up. 

We're not crashing to $50, without some remarkably (emphasis) bad news.  SR news and panic brought us to $90 on stamp for a split second, before very quickly bouncing back to $120, and it's difficult to think of a worse event that would cause such a panic sell-off.

Maybe see a test when we rear end $300. :-)

Really? Few anti-bitcoin words from government is enough... Can come sooner than you think.

[SheHadMANHands]

Bunch of little bitches in this thread.  Man up. 

We're not crashing to $50, without some remarkably (emphasis) bad news.  SR news and panic brought us to $90 on stamp for a split second, before very quickly bouncing back to $120, and it's difficult to think of a worse event that would cause such a panic sell-off.

Maybe see a test when we rear end $300. :-)

Really? Few anti-bitcoin words from government is enough... Can come sooner than you think.

That's would it would take, in my opinion.  Something very grim from US Gov't.  It's not just going to crash beyond ~$140 on Stamp for no reason, though.

[scarsbergholden]

Bunch of little bitches in this thread.  Man up. 

We're not crashing to $50, without some remarkably (emphasis) bad news.  SR news and panic brought us to $90 on stamp for a split second, before very quickly bouncing back to $120, and it's difficult to think of a worse event that would cause such a panic sell-off.

Maybe see a test when we rear end $300. :-)

popping of a speculative bubble = much bigger than SR IMO

[the joint]

Some notes to remember about Bitcoin.

1) It's a different market, and the world hasn't seen one like it as far as I'm aware.  Thus, to make the assumption that you can analyze or predict the economy based upon effective market analysis tactics in the same way that you would analyze fiat currencies or the gold markets isn't necessarily true.

2) If you do some research about Bitcoin and simply look at the math behind it, mass adoption of Bitcoin would likely necessitate the formation of what would appear to be some of the most gargantuan bubbles ever seen.  Hell, even an influx of only 1% of the worlds GDP over the course of a few years would create a 'bubble' so large that our heads would be spinning in euphoric delirium.

3) New systems, let alone economic ones, are prone to mass instability/volatility.  They have to be, and this is an inevitable result between the ratio in size between the smaller system and the larger system(s) in which it is nested, and with which it receives and relays its inputs and outputs.  As systems grow and become more balanced, the effects of "extreme cases" (in Bitcoin, these are your whales and your 'manipulators') are minimized.

TL;DR:  If you've been around this market for more than a year or two, $20-$30 swings in a day isn't very shocking...you just take this into account when safeguarding your assets.

[nobbynobbynoob]

Really? Few anti-bitcoin words from government is enough... Can come sooner than you think.

'Cause we know, when governments restrict/ban something, everybody complies.
'Cause we know, every time governments ban a commodity, it becomes cheaper.

Oh, wait...

[Swordsoffreedom]

Not too worried
My greatest worry is that I sell at my sell point before it adjusts downward again

[evoorhees]

But long term this rally is unsupported by anything "real".   I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

http://www.coindesk.com/chinese-internet-giant-baidu-starts-accepting-bitcoin/

[fleabag]

But long term this rally is unsupported by anything "real".   I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

http://www.coindesk.com/chinese-internet-giant-baidu-starts-accepting-bitcoin/

$44 in blockchain! Wow get ready for a rally! not!

[derpinheimer]

But long term this rally is unsupported by anything "real".   I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

http://www.coindesk.com/chinese-internet-giant-baidu-starts-accepting-bitcoin/

Havent you read anything? That was a load of crap. This rallyis be cause rally. Doesnt mean its unsustainable, just that there is no real reason for it.

[SheHadMANHands]

But long term this rally is unsupported by anything "real".   I'd love for this rally to be occurring on the heels of the announcement of new bitcoin technologies or some larger retailers or Paypal implementation, etc.

http://www.coindesk.com/chinese-internet-giant-baidu-starts-accepting-bitcoin/

$44 in blockchain! Wow get ready for a rally! not!

It hadn't crossed your mind that this might be "good news" for other reasons, including, but not limited to:

1) Added media attention
2) Precedents set (acceptance of technology)

??

Think a little deeper, on occasion.  You know, if it doesn't hurt your head too much.

[Aco]

US debt crisis.
China baidu.
All these things are in play. Plus people are talking about bitcoins again.

[TERA]

Its also simple charting that it was time for bitcoin to rally again. There is a major rally every 6 months and the chart looked exactly like before the spring breakout. People knew there was no longer any possible chance to buy bitcoin any lower and they had to buy now or miss the train.

[World]

US debt crisis.
China baidu.
All these things are in play. Plus people are talking about bitcoins again.

capital control CHASE & HSBC
https://bitcointalk.org/index.php?topic=178336.msg3358474#msg3358474
Spain
https://bitcointalk.org/index.php?topic=178336.msg3373737#msg3373737

[ImI]

US debt crisis.
China baidu.
All these things are in play. Plus people are talking about bitcoins again.

capital control CHASE & HSBC
https://bitcointalk.org/index.php?topic=178336.msg3358474#msg3358474
Spain
https://bitcointalk.org/index.php?topic=178336.msg3373737#msg3373737

The spain story is a hoax. Those rules are from 2011 and the website hasnt been updated.

-> You are allowed to transfer free in spain.

[the joint]

[scarsbergholden]

US debt crisis.
China baidu.
All these things are in play. Plus people are talking about bitcoins again.

capital control CHASE & HSBC
https://bitcointalk.org/index.php?topic=178336.msg3358474#msg3358474
Spain
https://bitcointalk.org/index.php?topic=178336.msg3373737#msg3373737

LOL, this is like the 100th time i've seen this. "capital controls" is a bit ridiculous... more like banks eeking yet more fees out of everyone

[Anon136]

Hell, even an influx of only 1% of the worlds GDP over the course of a few years would create a 'bubble' so large that our heads would be spinning in euphoric delirium.

65,320 usd/btc

[vokain]

And no, looking in log-scale is not "cheating".  Going from 1 to 1.8 is just as spectacular as going from 100 to 180.

This is false. Think about it in terms of "people involved" and "money volume necessary to cause a price level increase", and you will see $100 to $180 is much different than $1 to $1.8

Think about it in terms of exponential growth, as in exponential amount of an "people involved" each bringing along individual "money volume necessary to cause a price level increase", and you will see $100 to $180 is actually pretty similar to $1 to $1.8

[cheech300]

And no, looking in log-scale is not "cheating".  Going from 1 to 1.8 is just as spectacular as going from 100 to 180.

This is false. Think about it in terms of "people involved" and "money volume necessary to cause a price level increase", and you will see $100 to $180 is much different than $1 to $1.8

Think about it in terms of exponential growth, as in exponential amount of an "people involved" each bringing along individual "money volume necessary to cause a price level increase", and you will see $100 to $180 is actually pretty similar to $1 to $1.8

+1

I see so many members here in this forum with no clue about Bitcoin! It's an experiment. And we will find out if it's gonna work. It seems to be at a point, to grow big enough to succeed. It's a little plant wich just startetd to see the sun. But if you follow all the News around it, you'll see, that it could be a real, real big thing. People are fed up of Gouvernements who cheating and saving corrupt banks, for sure they will fight the BTC. but Bitcoin is Not their enemy! I'm sure bitcoin is a gamechanger, also it could changed the thinking of many humans in the world..... We Must stop war and just kill People in the Name of profit!
cheech300

[Herp]

Bunch of little bitches in this thread.  Man up.  

We're not crashing to $50, without some remarkably (emphasis) bad news.  SR news and panic brought us to $90 on stamp for a split second, before very quickly bouncing back to $120, and it's difficult to think of a worse event that would cause such a panic sell-off.

Maybe see a test when we rear end $300. :-)

Yeah, lots of disgusting filthy weak hands dirty weakling whiny harlots in this thread. Slap yourself HARD and man up ffs. BTC should be at $20k not $200.

[Herp]

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

Potential sure, but I'm talking about its current market value, what a fair valuation should be.

[Zangelbert Bingledack]

And no, looking in log-scale is not "cheating".  Going from 1 to 1.8 is just as spectacular as going from 100 to 180.

This is false. Think about it in terms of "people involved" and "money volume necessary to cause a price level increase", and you will see $100 to $180 is much different than $1 to $1.8

Think about it in terms of exponential growth, as in exponential amount of an "people involved" each bringing along individual "money volume necessary to cause a price level increase", and you will see $100 to $180 is actually pretty similar to $1 to $1.8

Exponential increases in people and money flow are not easy things to accomplish. Such occurences are the exception, not the rule (don't fall prey to survivor bias). That isn't to say it won't happen, just acknowledging the facts.

It is when you're still tiny and have network effects via myriad channels.

[viboracecata]

Bitcoin millionares are worried about the price, for people have small amount of bitcoins, they hope the skyrocketing last long and long.

[Spaceman_Spiff]

And no, looking in log-scale is not "cheating".  Going from 1 to 1.8 is just as spectacular as going from 100 to 180.

This is false. Think about it in terms of "people involved" and "money volume necessary to cause a price level increase", and you will see $100 to $180 is much different than $1 to $1.8

Think about it in terms of exponential growth, as in exponential amount of an "people involved" each bringing along individual "money volume necessary to cause a price level increase", and you will see $100 to $180 is actually pretty similar to $1 to $1.8

Exponential increases in people and money flow are not easy things to accomplish. Such occurences are the exception, not the rule (don't fall prey to survivor bias). That isn't to say it won't happen, just acknowledging the facts.

It is when you're still tiny and have network effects via myriad channels.

This, there is a reason why adoption curves are S-shaped.

[David M]

No.

[smoothie]

No.

[bennybong]

Waiting for that 26,000 btc dump to come along...

[Dangolbery]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

[Bitcopia]

Nope. Been here a few times before. Learned this is not like anything else in the world.

[thoughtfan]

This whole move started since Second Market entered the game. They can drive up price to 1k in no time as they have quite a few billionaire clients buying whatever they pitch and Bitcoin is their featured top investment right now.

I find it surprising people don't get it and come up with various crap explanations like "Silk road" this or "US gov shutdown" that.

Angry birds market cap sits at $7 billion. A revolutionary payment system like Bitcoin should sit somewhere at $200 billion atm and it barely touched $2billion. Bitcoin is hugely undervalued. Price should be somewhere around $20k/Bitcoin.

Bitcoin has a potential market cap in the trillions. Mastercoin built on top of it puts it at least at 5 trillion (Forex level). Readjust your calculations.

Potential sure, but I'm talking about its current market value, what a fair valuation should be.

I don't believe there is such a thing as a 'fair valuation' based upon 'fundamentals'.  There is an absolute minimum price that would be required so that the bitcoins in circulation (assuming all bitcoins mined to date minus those in lost wallets) were enough to facilitate today's day-to-day transactions.  My guess is that that is a tiny fraction of its current market value.  Everything above that is based on demand versus supply (new + old becoming available on the market) with every bitcoin saved/long-term-speculated reducing those available.  People's preparedness to pay a higher and higher price is based on their confidence (or lack thereof) of Bitcoin reaching anywhere near its potential.

Feel free to pick a 'fair valuation' of your choice and to act accordingly.  Nobody can say you're wrong, but neither can you really say somebody valuing it at a cent or a million dollars are wrong.

[Zangelbert Bingledack]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

This is a major one I think. There was a huge contingent of people who thought Bitcoin was powered by SR. Probably everyone suspected it to some degree. There was another big contingent in more official/business circles that worried about the SR association. The shutdown of SR greatly soothed the latter group's concerns and the price action following the shutdown pretty much obliterated the former group's concerns.

More big reasons.

[600watt]

Bitcoin millionares are worried about the price, for people have small amount of bitcoins, they hope the skyrocketing last long and long.

i like this reasoning. let´s get the smallest bitcoin wallet wealthy. 

[Zangelbert Bingledack]

There is a very large difference between jumping from $1 to $1.8 and jumping $100 from to $180. It requires many more people, much more effort, and often some differentiating factors to do the second.

The rising price and stronger infrastructure attract more people and capital in a self-feeding cycle of exponential growth. There are plenty more factors that have yet to open Bitcoin to the masses, such as wallet security (Trezor, etc.). Second Market opened exposure to the wealthy less than a month ago. A year ago Second Market wouldn't have done the BIT, because the price and infrastructure weren't there. Each achievement unlocks several doors and reveals many more. Almost everything in the Bitcoin world, most notably the price, is mutually reinforcing.

Differentiation-wise, it seems Bitcoin is differentiated out the wazoo from fiat currencies, so no issue there.

As for differentiation from altcoins, first there is network effects, history, first-mover advantage, the strength of the development team, and inertia (including standardization). Inertia can be disturbed in some extreme cases, history can eventually become relatively more equal but the speed at which that happens is very limited compared to the speed at which the cryptocurrency revolution is happening or the speed of network effects. Bitcoin has such an overwhelming lead in all these areas, and there is so little innovation in the altcoins so far (and any new ones would start with no history) that it would take an amazing development for one to overtake Bitcoin - and Bitcoin users would be better off in that case anyway, since they would be among the first to recognize the investment opportunity, as well as having a better system in the end. That's supposing its features weren't just incorporated into Bitcoin or added on top of it like Mastercoin.

Good money drives out bad when there is a free market, so the best coin will always be dominant, and the great importance of track record in the cryptocurrency world will ensure that the leader cannot change easily.

EDIT: Here's a decent summary of why altcoins aren't anything to be worried about.

[afbitcoins]

And no, looking in log-scale is not "cheating".  Going from 1 to 1.8 is just as spectacular as going from 100 to 180.

This is false. Think about it in terms of "people involved" and "money volume necessary to cause a price level increase", and you will see $100 to $180 is much different than $1 to $1.8

Think about it in terms of exponential growth, as in exponential amount of an "people involved" each bringing along individual "money volume necessary to cause a price level increase", and you will see $100 to $180 is actually pretty similar to $1 to $1.8

Exponential increases in people and money flow are not easy things to accomplish. Such occurences are the exception, not the rule (don't fall prey to survivor bias). That isn't to say it won't happen, just acknowledging the facts.

The entire monetary system depends on constant exponential growth, because the money to pay interest on debts doesn't exist until new debts are created. This sort of thing was a useful system during past eras when humans were expanding and colonising new continents. Now that we are faced with exponential requirements for our economy and simultaneously hitting finite limits of resources and commodities we are stuck with a system which no longer works to our benefit and  is beginning to fail.

Bitcoin is a much better model for the worlds finances going forwards.

Not too nervous yet, but can feel a bit of greed kicking in, fear will be the crash after the next euphoric bubble, which might be just getting going now ?

[applelover]

I'm wondering.. Maybe it's not that BTC appreciate that much, but maybe more poeples are understanding that the actual fiat-printing-currency system is on the verge of total faillure (currently slowly falling appart).

this is the main reason why i personally am buying bitcoins

[wasserman99]

I'm wondering.. Maybe it's not that BTC appreciate that much, but maybe more poeples are understanding that the actual fiat-printing-currency system is on the verge of total faillure (currently slowly falling appart).

this is the main reason why i personally am buying bitcoins

that's a pipe dream, fiat has a long way to go, btc will rise for other reasons

[fleabag]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

[cheech300]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

??
Cool, nice to get insidernews! Ah ok, now i got it! Mtgox and bitstamp are the Head of the ponzischeme....seems that i'm one of those suckers... You don't own Bitcoins? U are the Lucky one!

[theonewhowaskazu]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway? 

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

I'm worried about how fast BTC is climbing in price because I need more BTC and now I can't get them.

First time I've legitimately been in a "panic buy" type situation.

[young3dvard]

Yes, the faster the daily price increase, the higher chance of crash. Simple as this

[the joint]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Hey fleabag, nice post history.  Not sure why you're so bitter, though... 

[Anon136]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway?  

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

I'm worried about how fast BTC is climbing in price because I need more BTC and now I can't get them.

First time I've legitimately been in a "panic buy" type situation.

i know the feeling. i set a nominal goal for myself denominated in btc and started buying in at 20 dollars. then the price just started going up and up and up and it felt like i was on an escalator that was increasing in speed while also increasing in the rate of increase in speed. i did finally manage to reach my goal though, it ended up costing me 4 times as much as initially expected it, but over all i'm WAY up on the investment and now its over and cool as a cucumber, just sitting back and watching the show.

[theonewhowaskazu]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway?  

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

I'm worried about how fast BTC is climbing in price because I need more BTC and now I can't get them.

First time I've legitimately been in a "panic buy" type situation.

i know the feeling. i set a nominal goal for myself denominated in btc and started buying in at 20 dollars. then the price just started going up and up and up and it felt like i was on an escalator that was increasing in speed while also increasing in the rate of increase in speed. i did finally manage to reach my goal though, it ended up costing me 4 times as much as initially expected it, but over all i'm WAY up on the investment and now its over and cool as a cucumber, just sitting back and watching the show.

Yea, that's the worst. I sold in the march 11 crash and have been trying to catch up ever since.

If you denominate all my profits in USD, though, I'm still in the green, so I suppose I shouldn't be complaining.

[fleabag]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Hey fleabag, nice post history.  Not sure why you're so bitter, though... 

THE TRUTH HURTS HUH? SO TELL ME THERE IS GOING TO BE THOUSANDS AND THOUSANDS OF NEW MILLIONAIRES IN THE NEXT 10 TO 20 YRS? SURE. ALL THE WEALTH IN THE WORLD IS GOING TO BE REDISTRIBUTED BECAUSE OF BITCOINS?

[wobber]

I am kinda worried that we're gonna go parabolic again and then CRASH.

[Herp]

I am kinda worried that we're gonna go parabolic again and then CRASH.

So lay down your weak hands and sell. What you're waiting for?!

[fattypig]

So,

Like 150 a day after difficulty goes up, 180 2 days later, heavy volume on MTgOX.

Is this not worrying anyone?

Who is injecting all this money anyway?  

Is the ASIC producers in China trying to keep the value up to sell the miners?

It's looking like quite a bubble.  And so far there is very little "Technical Analysis" type chart formatiations in the past.  Maybe the daytraders are taking over?

We are losing stability here, I think.

I'm worried about how fast BTC is climbing in price because I need more BTC and now I can't get them.

First time I've legitimately been in a "panic buy" type situation.

i know the feeling. i set a nominal goal for myself denominated in btc and started buying in at 20 dollars. then the price just started going up and up and up and it felt like i was on an escalator that was increasing in speed while also increasing in the rate of increase in speed. i did finally manage to reach my goal though, it ended up costing me 4 times as much as initially expected it, but over all i'm WAY up on the investment and now its over and cool as a cucumber, just sitting back and watching the show.

Well, its time for you to sell... and buy more when its lower

[the joint]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Hey fleabag, nice post history.  Not sure why you're so bitter, though...  

THE TRUTH HURTS HUH? SO TELL ME THERE IS GOING TO BE THOUSANDS AND THOUSANDS OF NEW MILLIONAIRES IN THE NEXT 10 TO 20 YRS? SURE. ALL THE WEALTH IN THE WORLD IS GOING TO BE REDISTRIBUTED BECAUSE OF BITCOINS?

Freedom for all to control their money as they see fit > redistribution

[telemaco]

US debt crisis.
China baidu.
All these things are in play. Plus people are talking about bitcoins again.

capital control CHASE & HSBC
https://bitcointalk.org/index.php?topic=178336.msg3358474#msg3358474
Spain
https://bitcointalk.org/index.php?topic=178336.msg3373737#msg3373737

The spain story is a hoax. Those rules are from 2011 and the website hasnt been updated.

-> You are allowed to transfer free in spain.

Sorry but it is not a hoax. I have a bank account on bbva and they have this in their page. I just did let you guys know. I will put a more general view of the bbva view crossing over my name, money and so on.
You might have your opinion about it having some relation with money haircuts or anything but that they have it on their webpage i hope there is no doubt.

Here, take a look:



and after clicking on the notice



Is it an old notice that they haven't retired?. Well i cannot tell, check the page URL, it is a whatsnew page (?). As you can see the page view is from today and with all the HSBC and JpMorgan Chase news about limitations it makes you raise an eyebrow.

Cheers,

[thoughtfan]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Hey fleabag, nice post history.  Not sure why you're so bitter, though... 

THE TRUTH HURTS HUH? SO TELL ME THERE IS GOING TO BE THOUSANDS AND THOUSANDS OF NEW MILLIONAIRES IN THE NEXT 10 TO 20 YRS? SURE. ALL THE WEALTH IN THE WORLD IS GOING TO BE REDISTRIBUTED BECAUSE OF BITCOINS?

Though I tend to avoid feeding trolls I will reply to this post and see the tone of any reply before clicking the ignore button:

If Bitcoin takes off on the longer and larger scale an inevitable consequence is that early holders (that's us folks) will become very wealthy.  I am not one that defends the 'righteousness' of this, claiming that all the smart, early, risk-embracing folk that did jump/are jumping on board and participate in its growth have 'earned' or 'deserve' the scale of increase in the value of our holdings just as I don't believe landowners who happen to be sitting on a plot in an area whose popularity goes through the roof have 'earned' their increase in wealth.  But it happens - and has happened for centuries - until something changes to prevent it from happening.

As an aside I happen to believe in the case of land a land value tax is a just means of ensuring those who play a role in making a location more popular (businesses, the police, providers of public transport, newcomers and all productive people in that locale) also reap some of the reward.  In contrast I don't believe Bitcoin savers/'hoarders' do any harm because it in no way limits those who arrive late to the party from using it to its potential so I don't believe a means should be found to 'redress' the extreme increases in wealth from having got in early.  It doesn't mean to say (and maybe this is one of the things you're hinting at) that governments and/or central banks and/or today's wealthy won't take steps to prevent this transference of wealth from happening.  This is a potentially interesting debate.

However I would recommend if you want to learn something - and there are many smarter than me that frequent these pages from whom a lot can be learned - as opposed to shouting generalities and conspiracy theories I would recommend calming down and thinking what your concerns are before posting.  That way others are more likely to participate and learn from the exchange too.  Just a suggestion

[afbitcoins]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Those exchanges make profit when people buy or sell. Whats in it for them for higher prices? The market price is dictated by what people will pay versus how much the sellers want

Regulations do nothing except distort fair market valuations.

[Anon136]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Hey fleabag, nice post history.  Not sure why you're so bitter, though... 

THE TRUTH HURTS HUH? SO TELL ME THERE IS GOING TO BE THOUSANDS AND THOUSANDS OF NEW MILLIONAIRES IN THE NEXT 10 TO 20 YRS? SURE. ALL THE WEALTH IN THE WORLD IS GOING TO BE REDISTRIBUTED BECAUSE OF BITCOINS?

allright fbag i try to be really patient with people but its clear you are just a troll. welcome to my blocklist and if you dont want to find yourself on everyone's blocklist i recommend laying off the caps lock. the size of your text is not a substitute for the quality of your arguments.

[PrintMule]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Hey fleabag, nice post history.  Not sure why you're so bitter, though... 

THE TRUTH HURTS HUH? SO TELL ME THERE IS GOING TO BE THOUSANDS AND THOUSANDS OF NEW MILLIONAIRES IN THE NEXT 10 TO 20 YRS? SURE. ALL THE WEALTH IN THE WORLD IS GOING TO BE REDISTRIBUTED BECAUSE OF BITCOINS?

allright fbag i try to be really patient with people but its clear you are just a troll. welcome to my blocklist and if you dont want to find yourself on everyone's blocklist i recommend laying off the caps lock. the size of your text is not a substitute for the quality of your arguments.

I may be mistaking, but in one of his posts elsewhere he said "I'm simply just a troll"

[applelover]

I'm wondering.. Maybe it's not that BTC appreciate that much, but maybe more poeples are understanding that the actual fiat-printing-currency system is on the verge of total faillure (currently slowly falling appart).

this is the main reason why i personally am buying bitcoins

that's a pipe dream, fiat has a long way to go, btc will rise for other reasons

not really a pipe dream.  when the world stops using the dollar as much the value goes down.  government prints more.  interest goes up.  people are already losing faith in the dollar, just go to bloomberg or finance.yahoo and read the comments section any article that mentions yellen or bernanke

[fleabag]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Those exchanges make profit when people buy or sell. Whats in it for them for higher prices? The market price is dictated by what people will pay versus how much the sellers want

Regulations do nothing except distort fair market valuations.

Please tell me you didnt just say, whats in it for the exchanges at higher prices? Dont they make more money as the price of the transactions increase. Now this is the kind of people I am dealing with on here lol.

I cant even go on explaining anymore. someone please help him

[fleabag]

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

Hey fleabag, nice post history.  Not sure why you're so bitter, though... 

THE TRUTH HURTS HUH? SO TELL ME THERE IS GOING TO BE THOUSANDS AND THOUSANDS OF NEW MILLIONAIRES IN THE NEXT 10 TO 20 YRS? SURE. ALL THE WEALTH IN THE WORLD IS GOING TO BE REDISTRIBUTED BECAUSE OF BITCOINS?

allright fbag i try to be really patient with people but its clear you are just a troll. welcome to my blocklist and if you dont want to find yourself on everyone's blocklist i recommend laying off the caps lock. the size of your text is not a substitute for the quality of your arguments.

I may be mistaking, but in one of his posts elsewhere he said "I'm simply just a troll"

no i didnt say i was a troll, Maybe I did? I just like going against the grain. Like I said before what fun would it be on here if everyone agreed with each other?

[rocks]

I am kinda worried that we're gonna go parabolic again and then CRASH.

So many people are waiting to get in at a cheap price, that each "crash" is becoming shorter and less volatile. After SR went bust the price only dropped a bit for several minutes, everyone wanted to take advantage of the cheap coins. The next "crash" will only be to $150, the "crash" after that will hold above $200.