RALLY!

[nefanon]

Damn, knew I shoulda bought at $4.50

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[NamelessOne]

Damn, knew I shoulda bought at $4.50

Same, but you can still buy now, the growth would still be fantastic if there is a good rally. Which is what multiple technical analysts are predicting. 

[Technomage]

Nice small rally again, I feel a bigger one coming. I changed my plan today, instead of waiting I decided to go back to bull-mode. Took my orders from $4.xx and bought at $5.2. From a long term perspective that price is more than sufficient.

[NamelessOne]

Nice small rally again, I feel a bigger one coming. I changed my plan today, instead of waiting I decided to go back to bull-mode. Took my orders from $4.xx and bought at $5.2. From a long term perspective that price is more than sufficient.

Yes same, we beat the previous high about 15-20 minutes ago, and there is hope in the air of far more.

[sukiho]

I dont see it happening. what happened to the atm guys? I cant even find the code for affiliates. I know bitcoin is the future but not many seem to be cashing in on it, apart from selling and buying it going very slow

[NamelessOne]

Go look at Bit-Pay, was just revealed a couple days ago.

[Technomage]

The Bitcoin economy is not that different from any other economy. Not all ventures will succeed. Some companies will fail. This should be obvious. That doesn't matter though, because the rise of Bitcoin is not dependent on one company or their success. If the idea is good anyone can copy it and do it better. If no one can do it, then the idea was bad.

[sukiho]

I looked at them but no affiliate scheme last I saw. Im sure the coding is fairly simple but beyond me unfortunately

Go look at Bit-Pay, was just revealed a couple days ago.

[GoWest]

[RyNinDaCleM]

Nothing to add?

I did NOT expect that last one! I was busy replying a post, switched to Goxlive as it was unfolding. I sold at 5.75!

[coined]

Nothing to add?

I did NOT expect that last one! I was busy replying a post, switched to Goxlive as it was unfolding. I sold at 5.75!

I think I actually missed those rally pics 

It's been a while

[GoWest]

Nothing to add?

I did NOT expect that last one! I was busy replying a post, switched to Goxlive as it was unfolding. I sold at 5.75!

I think I actually missed those rally pics 

It's been a while

It's definitely time to start them up again.  This is the rizzle dizzle.

[neptop]

I find it funny. New people (who haven't been here for a year or longer) must always have heart attacks.

RELAX!

Prices go up and down. That's normal. You most likely weren't here when it was .50 -> .1 -> 10 -> 20 -> 30 in a very short time frame, while it took ages to reach .50. Then there was someone who threw in a lot of sell orders (to rebuy them at a cheaper price) and lots of people were scared and the price dropped. Also because Silkroad went down, the forum was under attack and stuff. Just be relaxed, use Bitcoins to directly buy goods, which usually is cheaper for you and has a positive effects on the economy (meaning the value of BTCs will probably rise). Also, if you relax, you won't have a heart attack and that will make your health insurance and the people who like you happy.

[the joint]

Don't count your dicks before they snatch.

The Bitcoin economy simply isn't large enough to sustain itself at a price that's significantly higher than its production cost (electricity, time, cost of current economic infrastructure, etc.). 

I think the current price is pretty realistic.  Could jump or drop by 50% (a figure I'm pulling out of my ass to demonstrate a point) but I wouldn't expect any super rally to $20 or beyond anytime soon.

[Cluster2k]

I think the current price is pretty realistic.  Could jump or drop by 50% (a figure I'm pulling out of my ass to demonstrate a point) but I wouldn't expect any super rally to $20 or beyond anytime soon.

Super bubbles rarely inflate to their former glories.  Even something as well known and almost universally valued as gold has still not recovered its inflation adjusted bubble highs of 1980.  The inflation adjusted parity figure is around $2700/oz.

[Technomage]

I do agree that for a few reasons the way up won't be as easy as it was the last time. One big reason is that people will fall into bear traps very heavily this time, because they are afraid of "the bubble collapsing" on them. If enough people go into this mindset we might be seeing a lot of mini-crashes on the way up.

The other factor is that the miner network is much larger than it was before, meaning there's more electricity to pay for. But I think this factor is negated by the fact that the amount of speculators and investors that know about Bitcoin at this stage is much larger than before, so not really worried about that, seeing that most of the price movement come from them anyway.

In conclusion I'd say that what we're seeing now is a real rally and we're definitely on the way up, but it'll be a bumpy ride because some people will be very cautious. People don't want to buy high and sell low, unfortunately many did last time. Now a larger percentage of the people involved will take less risks, I think.

[Technomage]

Super bubbles rarely inflate to their former glories.  Even something as well known and almost universally valued as gold has still not recovered its inflation adjusted bubble highs of 1980.  The inflation adjusted parity figure is around $2700/oz.

I don't think this is a good comparison at all. Gold has been highly valued for thousands of years, I think the bubbles of gold go way back and for it to be more relevant to Bitcoin we'd need to know more. Bitcoin is 2 years old, I feel there's room for ups and downs MUCH larger than what we've seen so far.

This depends on how big Bitcoin becomes. We are heading into this new "bubble" from a fundamentally much larger base than before the last peak, so I surely think there's potential for a higher peak than before. But as I said earlier, the way there will most likely be bumpier and slower.

Again, comparison to gold or stock bubbles is not valid. Those were true peak situations. Bitcoin is in the very beginning. It doesn't compare. Of course if you think that Bitcoin has accomplished all it's ever going to accomplish, then you can argue that there's merit to a comparison. But I think that's silly.

[neptop]

Uhm, sorry... I didn't mean it would go up fast and just stay there.

That was my main reason to say people should relax - whether it goes down or up. Buying and selling too high or too low means just causes an unstable market and unless you are a day-trader just means you will cut yourself. Yes, day trading is nice. It is easy and one can profit with relatively low risk. It also evens out the market, but I really want Bitcoin to become more stable. I love this currency. It has pretty much everything I want a currency to have. One can simply do a few clicks and it arrives. That's it!

Paypal is ugly, has fees, can easily be tracked and if it's against their rules (or if they just see it fit), they will close you account and mess up everything for you. Also all these online currencies can easily be kill switched, which really sucks and scares me. They force you to trust single entities and usually these are folks that just want to make money and do everything to get it from you. I don't want to trust someone like that.

I want to use Bitcoin for my day to day stuff. This would be awesome. Of course I am realist enough to know that this might take some time. We are still a huge step away from that and yes, it can fail, because everything can fail. See Euro, see USD, see dictatorships, ...

But when I installed Bitcoin (I found it while browsing Source Forge projects) I didn't do so because I wanted to make money. Bitcoins weren't really offering anything for it. I had a few thousand Bitcoins and traded them for like 20 USD, just because I thought it was a nice thing to use this currency for actually buying things. It's still the only thing I want. Easy, decentralized, open, awesome!

[netrin]

How many people owned bitcoins in April? How many bought in as the price rose before June? How many people own bitcoins today? How many people will buy in as bitcoin doubles to $8 then $16? The pond gets bigger each rally.

Looking at volatility, two weeks of bitcoin exchange rates are similar to one year of NASDAQ, and I don't know, a century of gold purchasing power?

[cypherdoc]

Top of the morning, everyone!  Awaked to the beautiful ramped price up what 60% or so off the bottom?  Love the smell of Burning Bears!