Yes. Ohhhh, so, so natural.
I'm sick of Bitcoins now. Up to my eyeballs in contract work for Bitcoin sites / apps, getting paid in Bitcoins, and everywhere I look on the internet, people are talking about stupid fucken Bitcoins.
Bitcoin breaks $200
- Thread starter schockergd
- Start date
Yes. Ohhhh, so, so natural.
I'm sick of Bitcoins now. Up to my eyeballs in contract work for Bitcoin sites / apps, getting paid in Bitcoins, and everywhere I look on the internet, people are talking about stupid fucken Bitcoins.
it's called price discovery and scarcity
mtgox has a roster of 10,000+ buyers waiting to get approved.
Bitcoin Blog | The Bitcoin Trader: The Mt.Gox Verification Queue: 14,180 Users!
I was once of them. If buying & selling bitcoins were as easy as stocks the price probably would have probably peaked awhile ago, but the scarcity of the coins and the effort required to buy them is helping to prolong the bull market.
The speculators are the biggest advocates of Bitcoins right now. And until there is widespread merchant adoption, it literally is just a speculation medium.
It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.'
But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.
-Murray Newton Rothbard
Name another thing that has gone parabolic in price and maintained it over the long run?
It is scarce because you have to go through a retarded exchange such as Magic the Gathering before getting your hands on it.
The same rubes driving the price up now in this process of "discovery" are going to drive it through the floor at the first sign of trouble.
No one compounds interest at almost 10% on a daily basis, which is what bitcoins have done over 8 days when it went from 100 to 200
Another quick note. You guys all realize that Bitcoins have already been headlined on Wall Street Journal, CNN, Foxnews, MSNBC, etc... right?
So I could be wrong, but there's a decent chance this is as good as it gets for Bitcoin. There's still loads of demand, so give it another 2 - 3 weeks to start simmering down, then make sure you get out before BTC goes the way of tickle-me elmos. I would imagine the demand you see now is as high as it'll ever get, unless something out of the ordinary happens, like Spain trying to pull a Cyprus.
So I could be wrong, but there's a decent chance this is as good as it gets for Bitcoin. There's still loads of demand, so give it another 2 - 3 weeks to start simmering down, then make sure you get out before BTC goes the way of tickle-me elmos. I would imagine the demand you see now is as high as it'll ever get, unless something out of the ordinary happens, like Spain trying to pull a Cyprus.
The motivation and desire to use Facebook is different then the motivation and desire to hold and use bitcoins. There is no potential for economic loss for having and maintaining a Facebook account, that can't be said about bitcoins. Nice try but you can't compare the two
Hopefully I have my math correct at present:
11 million bitcoins in circulation. If you value each at $300, that's $3.3 billion USD.
I dunno, I mean I have been trading stocks for a number of years, and I have seen some companies trade at stupid market caps that had less potential than bitcoin.
11 million bitcoins in circulation. If you value each at $300, that's $3.3 billion USD.
I dunno, I mean I have been trading stocks for a number of years, and I have seen some companies trade at stupid market caps that had less potential than bitcoin.
A company has some assets tied to it, capital and the ability to generate income, profits and a return. None of that applies to bitcoins