The $100->$1200 BTC bubble!

[shawshankinmate37927]

alright then think about those who bought it around 1000$ mark thinking that the price is gonna reach 10000$ mark and suddenly found themselves below 500$ mark

If they think that the exchange rate is going to go to $10,000 and they were happy to buy one bitcoin for $1000 then they should be even happier to be able to buy two bitcoins for $1000.  Instead of turning $1000 into $10,000, they can now turn $2000 into $30,000.  

Your math sux!

If someone bought 1 bitcoin for $1000 and then six months later bought two bitcoins for another $1000 ($500 each) they now have three bitcoins that were bought for a total of $2000.  If the exchange rate goes to $10,000 per BTC then their 3 bitcoins would be worth $30,000.

What does your math say they would be worth?

[counter]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

All the hodlers made a huge amount of money during that bubble and the same will happen in few months, when we will hit the new all time high.

What makes you think we will hit a all time high though?

Most likely because their is no reason for us not to hit a new all time high.  Not saying it will happen tomorrow but it will happen is more likely then it not happening in my honest opinion.  If GOX didn't destroy the incoming wave of investors faith at the all time high where would we be now?

[shawshankinmate37927]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

Bitcoin isn't an investment, it's a currency.

No one is 100% sure it is currency alone, it  could also co exist as an asset and much more

If they're not sure, that just means that they're confused.  Bitcoin is definitely a different kind of currency--a stateless asset-based currency instead of a fiat debt-based currency.

[cuddaloreappu]

in real world even  currencies are traded and also kept as investment..

[haploid23]

Some people are confusing the term investment and speculation. Investment is something more stable, gains are smaller but happen over longer term. There are risks associated with investing, however the odds are in your favor. Speculating is more short term in hopes for quicker but higher returns. Now there is no clear cut line between the two, but when it comes to crypto currency, it's speculation.

[iluvpie60]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

are you talking about how btc-e sometimes "loses" peoples transactions? i h ad something like this happena nd it took them a week to finally help me out. i also got owned on coinex.pw lost like a full btc worth of alts i was trading back and forth when they got "hacked"... it sucks that happened to me and believe me i am aware things can get hacked, but i was using it every day to make more money and transfer it out, which i did quite well sometimes. on coinex.pw it was easy to make 2% on a trade and do like 5 or 6 of them in a day.

[giveBTCpls]

Bitcoin isn't an investment, it's a currency.

The most of people who are hoarding  BTC think it's an investment and are dreaming becoming millionaire one day!

Right, they are converting from one currency to another hoping that they will be able to convert back to the original currency at a much better exchange rate.  That's not investing, that's speculating.

If those people understood how the fiat scam works, and believed in Bitcoin, they wouldn't be interested in trying to accumulate fiat currencies.  They would be trying to escape from fiat currencies.

Most people are getting into BTC to make fiat and spend it on shit. What we need is merchants and ease of use of BTC. What we saw in the Tested video with the ATM is not a good advertisement. That needs to be fixed.

[Lauda]

Companies, if companies held on to the Bitcoin they received (Dell,overstock,cheapair) and paid employees in it or used it for other services the price would be a LOT higher. Right now companies receive our bitcoins and instantly sell it for Fiat and raise the supply and demand can't keep up for it so that is why the exchange rate is lower.

Stop posting when you have no idea what you're talking about.
With that one it is not exactly and they are keeping already a nice portion of them http://newsbtc.com/2014/05/02/patrick-byrne-overstock-com-10-percent-bitcoin-income-bitcoin/
It's obvious that they can't keep it all just yet.

[LiteCoinGuy]

there was no single 100 to 1200 bubble.

[DDuckworth]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

What do you mean BTC-E scammed you? What did they do?

[Light]

How many people do you think made millions in profits off the BTC bubble?

Depends when you decided to sell off. I do know for a fact that some of the older members did sell at the $1K mark (not sure if they actually managed to hit the peak - but close enough) predicting that it might be a popping bubble and hence made a decent profit off of it. I'm not sure whether any single individual actually sold enough to make millions from that move - not many people have that many BTC.

[freedomno1]

you mean besides mt gox?

That was pretty much what went straight into my head
Karpeles could have just sold his coins at 1200 then buy them all back but had to go and try for a full scam.
So money was definitely made off that bubble.

[SunBin]

How many people do you think made millions in profits off the BTC bubble?

Depends when you decided to sell off. I do know for a fact that some of the older members did sell at the $1K mark (not sure if they actually managed to hit the peak - but close enough) predicting that it might be a popping bubble and hence made a decent profit off of it. I'm not sure whether any single individual actually sold enough to make millions from that move - not many people have that many BTC.

They are lucky then.

Should buy back and double down at this price.

[zedicus]

you mean besides mt gox?

That was pretty much what went straight into my head
Karpeles could have just sold his coins at 1200 then buy them all back but had to go and try for a full scam.
So money was definitely made off that bubble.

I am not convinced that Karpeles was behind the Gox scam, but rather what happened to gox was the result of his incompetence. He simply does not live in a standard of living that would support that he stole those coins.

[Skoupi]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

Bitcoin isn't an investment, it's a currency.

Bitcoin isn't a currency. It's a protocol.

[shawshankinmate37927]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

Bitcoin isn't an investment, it's a currency.

Bitcoin isn't a currency. It's a protocol.

You're confusing the blockchain with bitcoins.  Bitcoins, millibits, microbits, and satoshis are currency units.

[Ayers]

How many people do you think made millions in profits off the BTC bubble?

Depends when you decided to sell off. I do know for a fact that some of the older members did sell at the $1K mark (not sure if they actually managed to hit the peak - but close enough) predicting that it might be a popping bubble and hence made a decent profit off of it. I'm not sure whether any single individual actually sold enough to make millions from that move - not many people have that many BTC.

but they bough back right? they have more btc, but if btc keeps going down, they are on the same boat again

[Sheldor333]

I think the most was made by early adopters. Still there was some people who used the situation to their advantage and gained some money. Who earned millions I don't know but I do believe there are at least a couple of people who did.

[zedicus]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

Bitcoin isn't an investment, it's a currency.

Bitcoin isn't a currency. It's a protocol.

You're confusing the blockchain with bitcoins.  Bitcoins, millibits, microbits, and satoshis are currency units.

No Skoupi is correct. The protocol is Bitcoin with a capital "B" while the currency is bitcoin with a lowercase "b"

Currencies can be considered to be an investment, yes a speculative one but still an investment.

[shawshankinmate37927]

Who made money during the $100 --> $1200 BTC spike, it was too easy which makes me think exchanges robbed people that listened and invested at $100 to get a return of at the least over $500. I was a victim of this selective scamming by BTC-E. How many people do you think made millions in profits off the BTC bubble?

Bitcoin isn't an investment, it's a currency.

Bitcoin isn't a currency. It's a protocol.

You're confusing the blockchain with bitcoins.  Bitcoins, millibits, microbits, and satoshis are currency units.

No Skoupi is correct. The protocol is Bitcoin with a capital "B" while the currency is bitcoin with a lowercase "b"

Nope.  Not when it's the first letter of a sentence.