bubble imminent

[So_Cynical]

I think that since QE2, many people are trying to protect their wealth by selling dollars. Maybe that's why bitcoins have increased its price so much.

Panic selling the USD for BTC  i doubt it...IMO the current exchange rate is the result of speculation and hoarding, there's 5 million BTC out there yet only a fraction of that gets turned over at exchanges, just look at today's MtGox spread, High:0.97Low: 0.845 with that sort of volatility the exchange rate could go anywhere.

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I'm sure there's a reason why MtGox doesn't have USD accounts? i mean why the muck around with liberty reserve?

[1713855598]

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[kiba]

Panic selling the USD for BTC  i doubt it...IMO the current exchange rate is the result of speculation and hoarding, there's 5 million BTC out there yet only a fraction of that gets turned over at exchanges, just look at today's MtGox spread, High:0.97Low: 0.845 with that sort of volatility the exchange rate could go anywhere.

Wrong, there's just not enough speculators to stabilize exchange rate.

I'm sure there's a reason why MtGox doesn't have USD accounts? i mean why the muck around with liberty reserve?

It's called paypal screwing with people.

[Grinder]

Wrong, there's just not enough speculators to stabilize exchange rate.

Just like there aren't enough speculators in the gold market to stabilise the gold price?

[kiba]

Just like there aren't enough speculators in the gold market to stabilise the gold price?

Bitcoin probably fluctuate more than gold price fluctuate. The point is, there's a lack of volume. If you buy 10,000 dollars worth of bitcoin, it's going to change rapidly.

[FreeMoney]

Just like there aren't enough speculators in the gold market to stabilise the gold price?

Bitcoin probably fluctuate more than gold price fluctuate. The point is, there's a lack of volume. If you buy 10,000 dollars worth of bitcoin, it's going to change rapidly.

Yeah, it would move the price by about 10%, this is temporary though. Six months ago it would have bought all coins on offer several times over.

[jtimon]

I think that since QE2, many people are trying to protect their wealth by selling dollars. Maybe that's why bitcoins have increased its price so much.

Panic selling the USD for BTC  i doubt it...IMO the current exchange rate is the result of speculation and hoarding, there's 5 million BTC out there yet only a fraction of that gets turned over at exchanges, just look at today's MtGox spread, High:0.97Low: 0.845 with that sort of volatility the exchange rate could go anywhere.

Not panic selling.
You don't need panic to protect yourself against inflation.
It is also interesting having money in different places so you can access them in different ways.
If your bank closes temporarily, maybe you can liquidate your bitcoins faster than the dollars in your account.

[genjix]

I disagee.  Up, up, and away!

Bitcoin value is now at 0.6

what say you?

[slush]

Bitcoin value is now at 0.6

It's still above 0.7, today's low is 0.73 (mtgox)

[genjix]

Bitcoin value is now at 0.6

It's still above 0.7, today's low is 0.73 (mtgox)

not on bitcoin central.

[N12]

Bitcoin value is now at 0.6

It's still above 0.7, today's low is 0.73 (mtgox)

not on bitcoin central.

Are you looking at the Euro? LRUSD is .83 on Bitcoin Central.

[genjix]

my bad, I was looking at euro.

[genjix]

Should've kept those bitcoins afterall

[payb.tc]

Should've kept those bitcoins afterall

naaah, you should have sold them all for $30.

[genjix]

Should've kept those bitcoins afterall

naaah, you should have sold them all for $30.

I actually bought several $k around $0.2 or so, sold them and was like "fuck yeah! $100". Waited and waited after they sharply rose to $1 because I was *sure* a crash was coming due to the reasons in the OP.

Looks like my time will come again this time around! haha

[speeder]

I bought at 0.7 and... lost them all on bitcoinica :/

[cypherdoc]

Should've kept those bitcoins afterall

naaah, you should have sold them all for $30.

I actually bought several $k around $0.2 or so, sold them and was like "fuck yeah! $100". Waited and waited after they sharply rose to $1 because I was *sure* a crash was coming due to the reasons in the OP.

Looks like my time will come again this time around! haha

amazing walk back in time.  i remember fiddling around with offers at $0.50 at the time on OTC but not getting around to buying until $1.60.  what a roundtrip journey.  good news is we'll get to do it again.

[jimbobway]

Should've kept those bitcoins afterall

R u subtly implying there could be another bubble...soon!

[evlew]

hindsight is 20/20, my friend.

[ShadowOfHarbringer]

Yeah, we had a bubble, it bursted, we lived through.
It was kinda obvious that this would happen and many people were saying that over and over again.

Now, can such useless topics as this be closed after they become totally & absolutely offtopic ?
I mean what is the point of existance of such a long offtopicked topics ? Does anybody even bother to read through them ? I seriously doubt so.

Perhaps all topics that are completely "used", should have their discussion moved to another [EMPTY] topic with changed title ?

[wareen]

Yeah, we had a bubble, it bursted, we lived through.
It was kinda obvious that this would happen and many people were saying that over and over again.

Now, can such useless topics as this be closed after they become totally & absolutely offtopic ?
I mean what is the point of existance of such a long offtopicked topics ? Does anybody even bother to read through them ? I seriously doubt so.

Well, thread necromancy can be funny at times so I wouldn't automatically close them - but we now have a shiny new speculation subforum where this thread should probably be moved to.