Bitcoin

[FlutterPie]

And now they are at $637

This is just amazing.

 

[Grix]

Yes, this is quite ridiculous. I'd be very careful now, I suspect a crash any second.

 

[FlutterPie]

Yes, this is quite ridiculous. I'd be very careful now, I suspect a crash any second.

Not to be negative, but I hope for one soon. This way I can invest a lot of money in it then. Last year when BTC was at about $260 or so it dropped to about $70. But look at them now, so I believe the prices will always go back up.

 

[FlutterPie]

RI I'm about to take a big SHIT. Seriously though this is just getting out of hand. I just checked a few mins ago and bitcoins were at $745 checked again about a min later $733 now $740. This is insane, the price fluctuates So MUCH.

My question is, the value of bitcoins are based on the amount of "trust" people have in them correct? This means the more people that start using bitcoins the more "trust" is put into them. Bitcoins are starting to get very big, so doesn't this only leave room for growth?


Edit: And now at a minute later they are at $705

Edit: I'm starting to think my bitcoin widget is screwed up. RIGHT after posting that last edit they went to $699. Now, within 15-30 secs they are at $713

 

[MarioMaster]

Bitcoin prices are a positive feedback loop, the more people that build services and build interest, more people buy some coins to try it out, more people buying increases the price, the increasing price attracts more people etc.

Granted explosive growth with small market depth can cause wild price swings especially when the market is driven by emotion (panic selling after large negative bitcoin press for example)

Could this be the fabled "critical mass" that bitcoiners have been talking about for years? Buckle up and enjoy the ride

 

[Lazerbeak]

Still have some bitcoins in Mt Gox. So tempted to cash em out :thinking:

~ LB

 

[FlutterPie]

Still have some bitcoins in Mt Gox. So tempted to cash em out :thinking:

~ LB

A better option in my opinion would be to buy this with it.

 

[Blord]

I would cash it. As long you don't have the cash it is still vapor.
I don't have Bitcoins, so that I don't have much concern. Ignorance is bliss.

 

[Lazerbeak]

A better option in my opinion would be to buy this with it.

Lol, shameless plug duly noted

_____________________________

I would cash it. As long you don't have the cash it is still vapor.
I don't have Bitcoins, so that I don't have much concern. Ignorance is bliss.

True. Honestly it will probably continue to sit. I just use it for the occasional donation. If it takes a dive again though I may get some more. Not really as anonymous as people like to think.

_____________________________

Ooh, Bitcoin at $1,000 guess I'll sell


~ LB

 

[benmwv]

Up to 872!

Grix I spent those as soon as I got them because I was so afraid of a crash.

 

[FlutterPie]

What is the best bitcoin wallet? I want to setup my wallet now.

 

[Lazerbeak]

Not sure. Tried a wallet on my comp. Took forever to sync. I'm just using mtgox.com. They will ask for ID and proof of residence. They are in Japan.

Skipped it first time around and just transferred funds with Bitinstant. Paid at CVS.

Want to withdraw funds so I just uploaded my info to Mt. Gox. so I can bank transfer. 5 day wait now for verification. Should've done it the first time around. Not very anonymous though. I'm sure there are better ways.

~ LB

 

[Grix]

Up to 872!

Grix I spent those as soon as I got them because I was so afraid of a crash.

I hear you, I currently have nearly 2 btc from a sale at my store stuck without confirmations. I just woke up so I missed the mini spike and crash, I'm just happy the price is still over $700, hopefully it won't drop more until my coins are ready.

 

[benmwv]

I stayed up all night doing calc homework since all the homework for the semester is due today and I hadnt done any of it...

Anyways, I checked it a few times through the night and it really is going crazy. One time I saw it fluctuate down and back up by over $100 in just a minute or two.

I was really hoping it would peak over $1000, but 900 still is huge.

 

[Grix]

I stayed up all night doing calc homework since all the homework for the semester is due today and I hadnt done any of it...

Anyways, I checked it a few times through the night and it really is going crazy. One time I saw it fluctuate down and back up by over $100 in just a minute or two.

I was really hoping it would peak over $1000, but 900 still is huge.

In china the price peaked at nearly 7000 CNY which is around $1147 :0

 

[FlutterPie]

Since bitcoin is just getting out of hand. I'm thinking to start litecoin mining. Bitcoin started at a very low price and look at it now. So why wouldn't litecoin do that as well? Any thoughts on this?