One year ago...

[xcapator]

The price chart now looks worse than I hoped, and the 12-month-cycle hasn't been repeated as I hoped, it's still possible that the cycle will repeat in a prolonged way. Also it's possible november will echo last years buy panic.

[dnaleor]

 

[keystroke]

Let's not forget there are ~1.5 million more bitcoins in circulation compared to a year ago.

So even though the price remains the same, the market cap has increased from ~4B to ~4.6B.

Source: http://www.coindesk.com/data/bitcoin-market-capitalization/


So it has grown 15% in a year but people are saying it is dead. Funny.

[ErisDiscordia]

I like this thread.

[NotLambchop]

Let's not forget there are ~1.5 million more bitcoins in circulation compared to a year ago.

So even though the price remains the same, the market cap has increased from ~4B to ~4.6B.

Source: http://www.coindesk.com/data/bitcoin-market-capitalization/


So it has grown 15% in a year but people are saying it is dead. Funny.

>deflationary currency
>inflating at 15% per year
Funnier.

P.S:  In a day or two, your "market cap increase" claim will be false

[dnaleor]

Let's not forget there are ~1.5 million more bitcoins in circulation compared to a year ago.

So even though the price remains the same, the market cap has increased from ~4B to ~4.6B.

Source: http://www.coindesk.com/data/bitcoin-market-capitalization/


So it has grown 15% in a year but people are saying it is dead. Funny.

indeed

But it's very much possible that soon the market cap will also be lower than a year ago...

Anyway, bitcoin survived in 2012 when the exchange rate was lower than in 2011. So the current sutuation should not directly mean that BTC is dead...
Although, I hope that the exchange rate wil start a new uptrend within a few months. An anouncement of the Bitcoin ETF could make this happen.

[keystroke]

indeed

But it's very much possible that soon the market cap will also be lower than a year ago...

Anyway, bitcoin survived in 2012 when the exchange rate was lower than in 2011. So the current sutuation should not directly mean that BTC is dead...
Although, I hope that the exchange rate wil start a new uptrend within a few months. An anouncement of the Bitcoin ETF could make this happen.

Exactly. I had to make the point while it was still true.

I'm amazed we're going to get another 10% hash rate increase soon.

A year ago the difficulty was 510,929,738. Now we're at 39,603,666,252. 77x.

If it's still profitable at these prices then we can have some time to go as miners sell OTC.

After that the ETF could be the huge event to "drain the oceans" as aminorex would say.

[Hyena]

[Taras]

EVERYBODY ON LET'S GO

[dnaleor]

One year ago...

BTC was at 299.68 USD (Bitstamp VWAP)

Volatility from yesterday continued and was even higher. First correction in this rally.
Today (2014) we will likely see a higher exchange rate than one year ago

[dnaleor]

some posts:

Yeah baby!!!
VOLATILITY!!!

I wonder if this has anything to do with the resilience in price over the past 24hs.

Max Keiser ‏@maxkeiser

We are waiting to hear about a new MAJOR Bitcoin player news tomorrow... could boost price guidance.

https://twitter.com/maxkeiser/status/399173865026224128

If this has something to do with Bitmit suddenly shutting up shop then we're only in the foothills.

I think it was this (already reported here):
http://www.coindesk.com/shopify-integrates-bitcoin-payments/

probably... or are there other news today?

I thought we might settle back at ~$350 on Gox today, setting up for Monday (in case another bullish week ensues following this).  Plenty of volume now though.  Certainly plenty of capitulation this weekend from those taking down profits..

Am I a wizard?

You guys have got to watch for those dub apps.

I seem to remember some guy saying "anything below $300 is a bargain" - i feel like he almost singlehandedly saved bitcoin

As Bitcoin Plunges 25% On Government Scrutiny, The First BTC "Fair Value" Reco Has A Stunning Price Target

Let’s use a broad guesstimate. One Bitcoin should theoretically be worth 700 ounces of gold or pretty close to $1,000,000, if we adjust existing supply of both to equal eachother. One BTC is currently worth 0.14 ounces of gold. That gives BTC an upside of 5000 times to equal the current price of gold, supply adjusted. Clearly, I and everyone else believes that Gold may well be much higher than here in the next 5 to 10 years, thus versus the US Dollar the upside for BTC could be multiples of that. Now, before you shake your head, simply go back to the chart of Gold versus the US Dollar and just recognise that it has risen 8750% since the 1920s. And just remember that Microsoft rose 61,000% from its IPO to it’s peak. Considering what we know about the world, I personally believe that Bitcoin may well explode in value as more and more people begin to use it. If you stuck $5,000 into Bitcoins and each Bitcoin did go up to a gold equivalent of let’s say, only 100 ounces of gold (not the potential fair value of 700), then at current prices your Bitcoin stash would be worth $3.3m.

http://www.zerohedge.com/news/2013-11-10/bitcoin-plunges-25-government-scrutiny-first-btc-fair-value-reco-has-stunning-price-

For 700 ounces of gold a BTC I'll sell a considerable portion of my Bitcoins.

if it only goes to 1 mil I will be disappoint

I figure 7M probably

BONUS

Incoming apple bottom...

I can watch this all night long 

I didn't see the hoola hoop the first 3 times 

Hey there's a hoola hoop! Neat!

Thanks guys for all the pics. The lady next to me in the train has a nice impression of me now

Ask her if she has a hoola hoop with her!

[seleme]

Lol, I don't even read HOLD even when it's written like that. Don't use that word since HODL one.

[TinaK]

Bitcoins? Buy! Buy! Buy! Without Hesitation!

Already bought all the bitcoin I want, actually bought too early ...

lol, successful man 

[dnaleor]

Lol, I don't even read HOLD even when it's written like that. Don't use that word since HODL one.

that's why I included it 

 

[spazzdla]

One year ago a few of my friends were asking me which altcoin they should buy among : Litecoin, Peercoin and Feathercoin.
My answer was "Bitcoin".
Was it the right choice ?

Clealy... almost all others have fallen over 90%..

[keystroke]

One year ago a few of my friends were asking me which altcoin they should buy among : Litecoin, Peercoin and Feathercoin.
My answer was "Bitcoin".
Was it the right choice ?

Clealy... almost all others have fallen over 90%..

Haha, why must the masses always get it wrong? Gotta laugh at it but so sad.

[Hyena]

One year ago a few of my friends were asking me which altcoin they should buy among : Litecoin, Peercoin and Feathercoin.
My answer was "Bitcoin".
Was it the right choice ?

Clealy... almost all others have fallen over 90%..

Haha, why must the masses always get it wrong? Gotta laugh at it but so sad.

My answer has always been Peercoin. You can say that it has fallen over 90% but it also went to da nebulas in comparison to Bitcoin's rally to 1000+. What is more, in the end it settled down at its starting point before Bitcoin's last big bubble so whoever bought into PPC at that time were never in a loss.

Just look at the graph and do your thinking:

[xmasdobo]

One year ago a few of my friends were asking me which altcoin they should buy among : Litecoin, Peercoin and Feathercoin.
My answer was "Bitcoin".
Was it the right choice ?

Clealy... almost all others have fallen over 90%..

Haha, why must the masses always get it wrong? Gotta laugh at it but so sad.

My answer has always been Peercoin. You can say that it has fallen over 90% but it also went to da nebulas in comparison to Bitcoin's rally to 1000+. What is more, in the end it settled down at its starting point before Bitcoin's last big bubble so whoever bought into PPC at that time were never in a loss.

Just look at the graph and do your thinking:

What coin do you recommend at this point that you see as relatively cheap? with Bitcoin im not going to achieve anything by just holding, or at least not unless I want to be a rich grandpa. I need a relatively low price coin that may blow up in the future. What about Monero?

[Hyena]

What coin do you recommend at this point that you see as relatively cheap? with Bitcoin im not going to achieve anything by just holding, or at least not unless I want to be a rich grandpa. I need a relatively low price coin that may blow up in the future. What about Monero?

Peercoin has a really good price at the moment. Also, 0.000008 BTC per NuShare is a really good price, so pay attention --- if the price goes near 0.000008 BTC, buy in. I bought 6 BTC worth of NuShares a couple of weeks ago and now they are worth ~11 BTC, easy money. I don't know about other cryptos because you have to know the devs and community in order to make a good investment and not just gamble. I personally have been into Sunny King's coins ever since PeerCoin was created and I know that those dudes are constantly working on projects to make their coins succeed in the long run.

[Wekkel]

What coin do you recommend at this point that you see as relatively cheap? with Bitcoin im not going to achieve anything by just holding, or at least not unless I want to be a rich grandpa. I need a relatively low price coin that may blow up in the future. What about Monero?

Peercoin has a really good price at the moment. Also, 0.000008 BTC per NuShare is a really good price, so pay attention --- if the price goes near 0.000008 BTC, buy in. I bought 6 BTC worth of NuShares a couple of weeks ago and now they are worth ~11 BTC, easy money. I don't know about other cryptos because you have to know the devs and community in order to make a good investment and not just gamble. I personally have been into Sunny King's coins ever since PeerCoin was created and I know that those dudes are constantly working on projects to make their coins succeed in the long run.

Missed two good Peercoin runs in the past by dropping out too soon. Won't happen a third time and indeed, Peercoin is active but also attractively priced.