It's still relatively unknown to general populace. There's still a huge pool of greater fools available.
Any reason for the wacky rise in value? or is it just the kiddies and their new speculation toy?
Wheeeeeeeeeeeeeeeeeeeeeee (this is fun) .....(till it crashes again)
So let me ask what may be a very stupid question: for anyone who has zero investment in bitcoins or the mining thereof today, why wouldn't someone prefer to ride the ups and downs of a bitcoin's value over investing in hardware that is 100% certain to rapidly depreciate due to exponentially increasing difficulty?
I cashed out half my coins earlier tonight. These prices are crazy.
annnnd now we're 20% above that
I've got a friend who's all into bitcoins. His online business even accepts them now. Keeps trying to sell me on them but I'm not buying. It's a currency not backed by anything, with an arbitrary value, and it seems damn easy to hack peoples wallets.
I'll probably be eating crow in a few years for saying this, but bitcoins to me are the next big dotcom bubble.
The fed is going to shut Bitcoin down after they are done with Liberty Reserve trial. They won't allow any currency/banking system that doesn't leave a money trail.
Wheeeeeeeeeeeeeeeeeeeeeee (this is fun) .....(till it crashes again)
Agreed. If and when it crashes I doubt it will drop below $200 ever again, and it's far from a big gain yet.It's only $.43 per mBTC, I feel the price is extremely reasonable and sane
I wouldn't count on it crashing. It might crash, or this might just be a bump before heading to $2000.
Historically, each run up bitcoin value has gone up tremendously. In comparison, simply going from $250 up to $450 is a relatively small jump in value.
$1 high, crash to $.50.
$32 high (60X higher than previous low), crash to $4 (higher than previous high)
$260 high (65X previous crash low), crash to $50 (higher than previous high)
$450 high? (9X higher than previous crash low point). Maybe, but I think value could potentially go a LOT higher before the next crash. If it follows past patterns, I'd expect to see a value around $2500 before crashing to around $900.
Meh, doesn't really matter to me. I think that most evidence points to the idea that simply holding your bitcoin for the next 10 years is a much better idea than cashing out at any given price.
The problem most people have is looking at the wrong chart. You need to look at the weekly chart, logarithmic scale, to see how small the gain really is right now. It has potential to hit $1000 within weeks, but you definitely need to protect your investment and not jump in 100% right now. If BTC breaks above $448 soon, jump in and hang on for the ride, but don't hold if it crashes below $400 afterwards.
Take a look at this chart (weekly, logarithmic scale) and you'll see it's only closed below the 25-week moving average once. It's a beautiful chart, and it may even be forming a pennant formation right now which is a continuation pattern for when it breaks above it's most recent high.
It's a currency not backed by anything, with an arbitrary value, and it seems damn easy to hack peoples wallets.
You are talking about USD, right?
Is greedy talk.I think that most evidence points to the idea that simply holding your bitcoin for the next 10 years is a much better idea than cashing out at any given price.
And this isn't.don't feel bad taking some profits to protect against a drop