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Author Topic: Semi-rational exuberance anyone?  (Read 10858 times)
Bit_Happy
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May 09, 2011, 10:11:19 AM
 #1

Wow, nice move today (just now) someone didn't learn we need kinder, gentler rallies.    Cheesy

Greed and Fear rule the markets!
Won't people ever learn to calm down?





<Original Post Starts Here>
Last Price: 3.86 High:3.937 Low: 3.64 Volume: 16826

The next few days should be pretty exciting.  Shocked




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BookLover
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May 09, 2011, 05:25:32 PM
 #2

 Cheesy  Grin  Smiley  Wink  Shocked  Cool !!!!!!! ditto.

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May 09, 2011, 09:39:13 PM
 #3

Glad I bought that Bitcoin bond!   Grin
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May 09, 2011, 11:07:57 PM
 #4

If it wasn't for the attack on Gox we would have stayed at +$4 for the previous week

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May 10, 2011, 12:25:46 AM
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If it wasn't for the attack on Gox we would have stayed at +$4 for the previous week

Thank god they have made enough money by now to mitigate the DDOS attacks. Those things aren't cheap.

I unfortunately imagine that DDOS attacks will become one of the massive barriers to entry of any bitcoin service provider.
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May 10, 2011, 04:42:55 AM
 #6

If it wasn't for the attack on Gox we would have stayed at +$4 for the previous week

Thank god they have made enough money by now to mitigate the DDOS attacks. Those things aren't cheap.

I unfortunately imagine that DDOS attacks will become one of the massive barriers to entry of any bitcoin service provider.

Indeed a huge pain in the ass. I wonder if Bitcoin will manage to get huge without some sort of p2p exchange

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Bit_Happy
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May 12, 2011, 02:55:18 AM
 #7

New High: $6.065/BTC
My "slam-dunk" of a prediction came true, new record highs two days in a row!   Grin
...and I get this excited without owning a single whole Bitcoin.

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May 13, 2011, 07:51:12 AM
 #8

If it wasn't for the attack on Gox we would have stayed at +$4 for the previous week

Thank god they have made enough money by now to mitigate the DDOS attacks. Those things aren't cheap.

I unfortunately imagine that DDOS attacks will become one of the massive barriers to entry of any bitcoin service provider.

Indeed a huge pain in the ass. I wonder if Bitcoin will manage to get huge without some sort of p2p exchange

The incentive for more exchanges is going every day now.

Just made it to '$8'!!!
New high   Last Price: 7.7 High:7.99 Low: 5.32 Volume: 49530

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meefozio
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May 13, 2011, 12:00:41 PM
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Every time I go to Mt Gox to see that the price has significantly risen from the previous day, I say to myself, "this is insane." 
thisisharsh
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May 13, 2011, 12:28:00 PM
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How sustainable is this though?  Are there any analyses out there about this crazy rise in bitcoin value?

I would like to hear some good arguments to persuade me this isn't a self-reinforcing bubble with nothing at the end of it except a loud 'pop'...
tomcollins
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May 13, 2011, 12:29:05 PM
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Every time I go to Mt Gox to see that the price has significantly risen from the previous day, I say to myself, "this is insane." 

Every time I go there, I think "why does it take so long to move money into Mt Gox?"
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May 13, 2011, 12:29:47 PM
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How sustainable is this though?  Are there any analyses out there about this crazy rise in bitcoin value?

I would like to hear some good arguments to persuade me this isn't a self-reinforcing bubble with nothing at the end of it except a loud 'pop'...

http://bitcointalk.org/index.php?topic=1493.0
ChaosFox
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May 13, 2011, 01:04:54 PM
 #13

$10/BTC by the end of the month.

I'm calling it.

If you liked what I said: 1Chaosb1cafG3RYPhdFF8BMmQHZuuxmJY

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May 13, 2011, 01:08:18 PM
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I say $10 before the end of next week
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May 13, 2011, 01:21:10 PM
 #15

12$ by tonight.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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May 13, 2011, 01:21:36 PM
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$10 frightens me  Cry
mewantsbitcoins
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May 13, 2011, 01:27:04 PM
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12$ by tonight.

I bet 1BTC against it
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May 13, 2011, 03:14:06 PM
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How sustainable is this though?  Are there any analyses out there about this crazy rise in bitcoin value?

Nobody knows -- or can know -- until after the fact.

The price rise is attributable to a large increase in the number of people hearing about bitcoin for the first time, and wanting to get ahold of a few bitbucks.  If you're a trader or investor for whom 50k or 100k is play money, how many bitcoins would you buy after first hearing about it?

It is entirely possible that bitcoin value will rocket up -- and then stick at the new level, simply because that is the new equilibrium where supply has matched demand.

Or value might plummet right back down.  I don't think it will fall back to $1.

There are only 6,000,000+ bitcoins, and plenty of individuals out there wanting them.  Constrained supply == high price.

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May 14, 2011, 04:38:52 PM
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Quote
If you're a trader or investor for whom 50k or 100k is play money, how many bitcoins would you buy after first hearing about it?
Considering that said traders/investors would have gotten there by being smart, my guess is 0$.  Grin
(We have zero liquidity for a $100k cash-out)

Quote
only 6,000,000+ bitcoins, and plenty of individuals out there wanting them.  
I've yet to figure out why they do.
But glod bless their charitable souls of giving me money for having my PC on.

I'm so bringing the pop-corn for when this all does pop.

Firmly hope that the "true believers" will outnumber the supply for quite a while longer though, would love to have some more months of third-party paid-for electricity (anything roughly over 2$ makes for a zero-sum game of free PC time while it lasts).
Shame that we have a coin amount ceiling, but the closer we get, the more frenzy might work it's way in...ho-humm..should be fun to watch.

Ho-Hum.
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May 15, 2011, 02:18:34 AM
 #20

It's weird, because I started mining when it was $3 a coin, and that was so recently...

Hope this means a solid $7.5/btc for the weeks to come, right guys?
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