can i know what is going on ?

[btcfre@k]

can i know what is going on ?why the btc price are going that high?and why chinese dont create theire own cryptocurrency so they dont kill our business!

[Miz4r]

Speak for yourself, my business is going pretty well over here and I'm not Chinese.

[btcfre@k]

i know but these price are not solid for the long term...there is absolutely no guaranties that bitcoin wont crash..once you got a big shark injecting alot of money in this small market ,you can be pretty sure he will manipulat as he want.

[Miz4r]

i know but these price are not solid for the long term...there is absolutely no guaranties that bitcoin wont crash..once you got a big shark injecting alot of money in this small market ,you can be pretty sure he will manipulat as he want.

Hello where have you been the past couple of years? Bitcoin has rocketed up and crashed several times before, but always recovered to new highs later. The market is also getting bigger with more hands holding bitcoins, and whales make mistakes and lose money/bitcoins trying to manipulate the market as well. So don't worry too much and just enjoy the ride, or get out of the kitchen if you can't stand the heat.

[wachtwoord]

No we cannot guarantee it won't crash. The opposite is a lot more likely to be true.

Take the volatility for a very profitable investment. If you can take it

[btcfre@k]

yeah i took the ride alot of time dont worry about me,but this time im not on because i dont invest in a context that i dont understand or feel dont worry for me have a good ride ya all;

sad...now bitcoin=short term speculation

[wachtwoord]

yeah i took the ride alot of time dont worry about me,but this time im not on because i dont invest in a context that i dont understand or feel dont worry for me have a good ride ya all;

sad...now bitcoin=short term speculation

No it's not. It's more long term then ever.

[wmcleod]

Why are BTC prices rising?  In sum; China.

[petersiddle98]

can i know what is going on ?why the btc price are going that high?and why chinese dont create theire own cryptocurrency so they dont kill our business!

China mass buying them, hope they don't dump until it reaches $10,000.

[Shallow]

Nobody knows what is happening. Panic!!!

[rauderce]

I caution any old vets against buying any BTC right now as BTC is a new idea and that veterans will be the only people who will feel the 'pain' if they bought more BTCs right now. The new users who have just joined BTC will be ok with the current price of 230USD+ as the price is relative for them.

As for the question: 'Are we in a bubble?'

I have no definite answer except that the BTC has crashed before (and recovered)

[laowai80]

We are in uncharted waters, both in bitcoin economy and generally in world-wide economy. In uncharted waters you proceed with caution, but too cautious don't make new discoveries, so pick your side and make your bets. This ship will sail with or without you.

[BitchicksHusband]

can i know what is going on ?why the btc price are going that high?and why chinese dont create theire own cryptocurrency so they dont kill our business!

Are you mad?  How does all of our holdings increasing kill our business?  It's doing just great for me.  Go China!

[btcfre@k]

just to say..i know its good for you and you and you waw i can imagine the happy jump you make inside of your room making 3k$ with your long position on btc ..but for bitcoin ,its bad.thats my point..if we continue to speculate like that ,thats ok for the speculator,not ok for the people who want to use bitcoin for the usual stuff.like this moscow subway sandwiches that now accept btc

[waltermot321]

can i know what is going on ?why the btc price are going that high?and why chinese dont create theire own cryptocurrency so they dont kill our business!

Well, we want the whole world to buy Bitcoin to push the price to $10,000 right?

[BitThink]

can i know what is going on ?why the btc price are going that high?and why chinese dont create theire own cryptocurrency so they dont kill our business!

If you don't believe BTC belongs to the whole world and will be used by the whole world, why do you care about it?

[Hawker]

can i know what is going on ?why the btc price are going that high?and why chinese dont create theire own cryptocurrency so they dont kill our business!

Well, we want the whole world to buy Bitcoin to push the price to $10,000 right?

Cyprus GDP is 22.98 billion USD (2012).  Even if only Cyprus converted to Bitcoin, the value would be well over $10k.  If the whole world adopted Bitcoin as a international trading instrument, its value would be in the us$ millions.  I can't even imagine how to calculate the value of Bitcoin if it replaced a few major currencies or if it became the global reserve currency. 

The truth is that if Bitcoin is turning out to have been one of the greatest investments in human history.  And its still undervalued...

[wachtwoord]

can i know what is going on ?why the btc price are going that high?and why chinese dont create theire own cryptocurrency so they dont kill our business!

Well, we want the whole world to buy Bitcoin to push the price to $10,000 right?

Cyprus GDP is 22.98 billion USD (2012).  Even if only Cyprus converted to Bitcoin, the value would be well over $10k.  If the whole world adopted Bitcoin as a international trading instrument, its value would be in the us$ millions.  I can't even imagine how to calculate the value of Bitcoin if it replaced a few major currencies or if it became the global reserve currency. 

The truth is that if Bitcoin is turning out to have been one of the greatest investments in human history.  And its still undervalued...

Worked it out once, 21 million / all fiat = about $0.012 per satoshi.

I'd like to see the calculation

[davidgdg]

I had a reasonably reliable figure for all the fiat in circulation at the time, the figures from a quick search give an out of date figure of 3.5 to 4 trillion USD from around 2008* up from 2 trillion in 2002, that works out at $0.0016 per satoshi. The $0.012 figure would equal a total fiat figure of about 30 trillion, iirc I'd allowed for 25% lost BTC in there too though.

* https://en.wikipedia.org/wiki/Circulation_%28currency%29
http://goldnews.bullionvault.com/all_the_money_in_the_world_102720093

The world's total broad money supply is about 90 trillion USD (source: The CIAC factfile). So your figure is too low by a factor of 3.

Now where did I put that last chicken?

 

[gaston909]

Lol, I'd gone through it near the end of last year so it could just be the speed they're printing the stuff It's hard to pin down a figure on that even with a reliable source as there's different interpretations of money supply, I'm guessing the 90 trillion is the figure for money distributed/issued BY the banks but the figure for money issued TO the banks would be 1/10th of that (over simplified).

3 billion market cap will essentially be nothing... until I see 100 bil market cap at least. Its just a drop in the ocean.