Bitcoin breaks $200

2xHjW

2xHni
 


"Based on intensive googling over the last 3 hours, I have determined that this price surge in bitcoin is surely the best time to invest. Tallying up my savings, and the $1.10 my mom just gave me for a mcdouble, I'm throwing it all in for .002 BTC. See you at the top, bros!"

- catlovingstoner420
 
Better get your Buttcoins while you can! Just a small dip before the ramp up to Mars. I can totally see it hitting $1000 per Buttcoin.

Trust in :

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=

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Is this swinging so hard because the trading volume is light? If so, there is such an opportunity for massive manipulation. SEC don't regulate this shit!

InB4, russian mafia takes all your monies.
 
today's price action revealed with certainty that bitcoins have basically zero utility as a functioning currency going forward. none. it may be a fun pennystock for gamblers to play with, but outside of that, no rational merchant would accept them in exchange for his product and just pray the currency risk didn't fuck him sideways before he could spend them.

let's not forget this boom was driven by a 10% haircut proposal in cyprus... that risk looks pretty tame after today.
 
dmnEPC said:
nope. Far from it. This is like watching a crack whore Looking to score. My point is anyone getting in at the all time high is doing nothing but taking an extreme risk. If you like extreme risks you deserve what everything you get. Don't get me wrong. I love taking risks. But if you don't learn to take calculated risks you will get burned.

All day everyday
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Extreme risk is buying a shitty house with no roof for $418K with a wife and a kid and one on the way and everybody telling you it's a bubble. Then when the house starts to leak you have to roof it yourself.
I 've done extreme risk. It's no fun.

This bitcoin mania on the other hand, is giving out lots of giggles and WTF...

If it makes as alternate currency then that's only a good thing, if it crashes and burns well we wuz there and the times were good for awhile.

Guys you need to lighten up. Remember Acai berries?
 
zerohedge said:
San Francisco-based exchange called TradeHill is saying that the crypto-currency is falling because of apparent distributed denial of service attacks on Mt. Gox and Bitstamp. A denial of service attack happens when an attacker overwhelms a target with external requests, so that it can’t honor regular requests from legitimate users.
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BitCrash Continues: Down 40% And Dumping | Zero Hedge
 
last word before I dipset:

cash out.

Now.

I'm not going to tell you how I know, but you'll be wise to take heed to my words. Pewep has never told one lie.
 
I'm playing my Bitcoins at Satoshidice right now! :D Seems to be the only thing they're good for.

Dammit. All I wanted was 4 lousy million bucks like lukep said they would be worth. :(
 
(O_o) said:
ZoMg I can take SS too!

and 2 hours later :

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I bought some more BTC today from a local friend who panic sold @ $110 to me. wo0t for panic sellers!
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The weighted average is a telling sign of the trend imo. From $230 to $183 today.
 
In the long run, yes, there could be a bright future for BTC.

In the short run, there are several big challenges, liquidity being a huge one. When it comes to BTC, the activities of speculators/hoarders, and the activities of free exchange and commerce, have shown themselves to be in direct opposition so far. The "store of value" and the "medium of exchange" are not mutually exclusive, of course, but for the time being, they're functionally mutually exclusive. It's not yet clear whether BTC is a currency, a buy-and-hold investment vehicle, or some schizophrenic combination of the two. It's in the best, long-term interests of BTC to stabilize and become the latter. But BTC is going to be the former for quite awhile, precisely because it's so mysterious in the public eye, there's such information asymmetry about how it works, and because the markets for BTC-based commerce are still fairly niche.

Stabilization is going to come when more businesses start accepting BTC, and accordingly, when BTC becomes more freely convertible for goods, services, and other currencies. Until then, it'll proceed apace slowly and steadily, with the occasional burst of volatility as public interest spikes and wanes, and as speculators jump in and out.

What the currency really needs is exchange volume -- not just from trading, but from commerce.
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https://news.ycombinator.com/item?id=5529013
 
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