Is anyone worried how fast BTC is climbing in price?

[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