Bitcoin going ballistic.

[dannno]

The BTC community is being cautiously optimistic.

You mean they aren't acting like Wall Street on internet stocks?!?

 

[anaconda]

Sunday 4/7/13 5:44 PM Last price = $164.51 per Mt.Gox.

https://mtgox.com/press_release_20130228.html

 

[Keith and stuff]

Sunday 4/7/13 5:44 PM Last price = $164.51 per Mt.Gox.

https://mtgox.com/press_release_20130228.html

It is $169.74 right now. http://bitcoincharts.com/markets/mtgoxUSD.html

 

[enter`name`here]

My god where does it end? I sold half my holdings at 94... D'oh! I am a believer in btc, recently convinced my mother to start looking into it, but this is madness right? ... Right?

 

[newbitech]

My god where does it end? I sold half my holdings at 94... D'oh! I am a believer in btc, recently convinced my mother to start looking into it, but this is madness right? ... Right?

Yeah pretty crazy. It's looking to blow thru 180 in probably the next hour. I think the price is gonna be bumping up along that large stack around 200 by morning. If it chews thru that 200 and breaks it, we'll be talking about price rises in terms of 10's instead of 1's.

I might be looking to grab $100 bucks worth before it breaks 200. After it breaks 200, its gonna be a lot riskier to get in IMO.

 

[well_met_sir]

My god where does it end? I sold half my holdings at 94... D'oh! I am a believer in btc, recently convinced my mother to start looking into it, but this is madness right? ... Right?

It "ends" at $0 or $10000+. The prices now do not make sense and thus they are temporary. If bitcoin succeeds each one will be incredibly valuable. If bitcoin fails then each one will be worthless. Until we know whether bitcoin has succeeded or failed expect high volatility, mostly upwards.

 

[ronpaulfollower999]

I wouldn't be surprised if it hit 200 by tomorrow morning. Where it goes from there, who knows?

 

[gwax23]

Wow I shoulda bought then. Is buying now worth it? How much higher could is seriously go?

 

[Petar]

Wow I shoulda bought then. Is buying now worth it? How much higher could is seriously go?

It's still early, almost no one accepts them.

This can go to the moon.

 

[kpitcher]

It's still early, almost no one accepts them.

This can go to the moon.

I agree that this is totally uncharted territory. This evening I did convert some BTC I have to gold and silver to cover the last of my original investment. Never had a Gold Buffalo before so looking forward to having that in the coin collection. Very simple and hassle free ordering process.

The rest of my bitcoins will stay in the system. I'm in this for the duration.

 

[oyarde]

It's still early, almost no one accepts them.

This can go to the moon.

That appears to be true.

 

[newbitech]

Wow I shoulda bought then. Is buying now worth it? How much higher could is seriously go?

image if you had 2k to spend and you bought 10 btc's at $200. There's 21 million maximum btc's and 3billion USD's in circulation. if BTC replaces USD at 100% BTC worth 150k.

So my question is, how you gonna get that 1.5 million in your pocket?

 

[tmg19103]

image if you had 2k to spend and you bought 10 btc's at $200. There's 21 million maximum btc's and 3billion USD's in circulation. if BTC replaces USD at 100% BTC worth 150k.

So my question is, how you gonna get that 1.5 million in your pocket?

The moment BTC looks like a threat to the USD (well before it replaces it) the Fed and the U.S. government will shut it down. There is still an upside to BTC. The question is how much? The huge upside has to do with Europe and sovereign defaults. If they start happening, BTC explodes and the U.S. gov. shuts it down. Then it becomes a matter of timing on when to sell before they are made illegal.

 

[idiom]

Oooooo! Capital Gains Tax!

Stupidest tax ever.

 

[RickyJ]

Bit Coins are for the uneducated that think private fiat money is better than government backed private fiat money. Gold and Silver will remain real money long after dollars and bit coins are only mentioned in history books.

 

[RickyJ]

It's still early, almost no one accepts them.

This can go to the moon.

What kind of logic are you using to say something like that? Almost no one accepts them so it could go to the moon?

 

[anaconda]

$177.59 at approx. 11:30 PM 4/7/13 PST

 

[newbitech]

The moment BTC looks like a threat to the USD (well before it replaces it) the Fed and the U.S. government will shut it down. There is still an upside to BTC. The question is how much? The huge upside has to do with Europe and sovereign defaults. If they start happening, BTC explodes and the U.S. gov. shuts it down. Then it becomes a matter of timing on when to sell before they are made illegal.

Yes, but I would think you'd need to sell before it is shut down, which means you'd need to sell before it does what it was designed to do. So the moment just before it starts to be recognized as a serious competitor to the USD is the time to sell.

So this risk people are taking, they must be betting that its not gonna get shut down as it begins to compete with the USD. I still wonder how anyone who has say like a couple thousands of these is gonna get their money back if the keep holding on to it.

It's not like when it drops in value because it's been regulated to the point of being useless, or when its been declared unlawful to use these in trade as currency that the price is ever going to come back up.

So the higher the price the higher the risk of the value becoming 0.

I think I'd have to bail on it once I doubled my money. Then I'd take half the doubling and get back in again. Rinse and repeat.

 

[Barrex]

So if gold is about to be banned you would want to sell it before is made illegal?

 

[Petar]

What kind of logic are you using to say something like that? Almost no one accepts them so it could go to the moon?

No, im saying its still early because they are hardly used.

The fact that they may become widely adopted in the future, due to the unique advantages, is the reason that they may become extremely valuable in the future.