Bitcoin virtual currency hits (ALL-TIME) record high after exchange deal - Polidicks

Did they seriously just peak at ~150 today? That's goddamn insane.

[QUOTE=mblunk;40132877]While there's no reason to expect a crash soon, your guess is as good as anyone else's.[/QUOTE] Wait for (hard?) crash, buy some bitcoins, sell right before the next bubble is about to burst. Investment 101 (we can debate on whenever it's a wise investment though, but that's literally how investing works)

[QUOTE=mblunk;40132877]While there's no reason to expect a crash soon[/QUOTE] The value of the currency is increasing rapidly with no actual corresponding economic expansion. It's pure speculation and the bubble could burst literally at any moment.

[QUOTE=catbarf;40148862]The value of the currency is increasing rapidly with no actual corresponding economic expansion. It's pure speculation and the bubble could burst literally at any moment.[/QUOTE] I think the current consensus is that the rally is, at least in part, caused by the uncertainty around the euro, and that fearful europeans see bitcoin as a quick way of getting their money out. But yeah, it's starting to get a little out of hand, even the bulls are trying to cool things down.

I wonder if theres folks with hundred thousands

I wonder when inflation will have to hit bitcoins.

[QUOTE=DrBreen;40148962]I wonder if theres folks with hundred thousands[/QUOTE] Not that unlikely. Mining was incredibly easy back then. Only that anybody reasonable or not greedy would have sold them before they rose so high

[QUOTE=Aide;40149004]I wonder when inflation will have to hit bitcoins.[/QUOTE] Bitcoin is deflationary, not inflationary. As time goes on, they become harder and harder to mine, [del]which means given a constant level of demand, they will become worth more and more.[/del] which means given a constant rate of change of demand, their value will increase.

[QUOTE=mblunk;40098371]Wrong about what?! That my price prediction was wrong that I was clear was an estimate in the first place, despite it still going up? How about you admit that despite the idiot speculation, bitcoin continues to rise? You're delusional.[/QUOTE] Your "estimate" was wrong by more than 100%. That is the farthest thing from accurate analysis I have seen all month. Yet you were dead sure in your valuation and had the nerve to repeatedly tell other people they're ignorant when your own predictions are wrong - after, too, in the case of catbarf. And idiot speculation is [B]the very reason it rises now.[/B] It passed your mark so wildly and kept going. And going. And today is dropped more than 10%, ricocheted back up 5%, and is currently thrashing around as speculation drives the day price. For example you can look at all the people gasping at litecoins all over the other thread.

[QUOTE=scout1;40149770]Your "estimate" was wrong by more than 100%. That is the farthest thing from accurate analysis I have seen all month. Yet you were dead sure in your valuation and had the nerve to repeatedly tell other people they're ignorant when your own predictions are wrong - after, too, in the case of catbarf. And idiot speculation is [B]the very reason it rises now.[/B] It passed your mark so wildly and kept going. And going. And today is dropped more than 10%, ricocheted back up 5%, and is currently thrashing around as speculation drives the day price. For example you can look at all the people gasping at litecoins all over the other thread.[/QUOTE] I already acknowledged this. You're right. I was wrong. Bitcoin did far better than I was expecting. And it still is. Nobody's denying that speculation is a factor, it's always a factor in exchanges. But I do take issue with you claiming that speculation is the only significant force. Every movement has a reason, be it rising interest or manipulation.

[QUOTE=mblunk;40149019]Bitcoin is deflationary, not inflationary. As time goes on, they become harder and harder to mine, which means given a constant level of demand, they will become worth more and more.[/QUOTE] Even if they become harder and harder to mine, the amount of Bitcoins available in circulation will increase. If demand remains constant, then the value will decrease over time. I think what you meant was that if demand increases linearly, but the production of new bitcoins drops off, then their value will increase, which is true.

[QUOTE=catbarf;40149869]Even if they become harder and harder to mine, the amount of Bitcoins available in circulation will increase. If demand remains constant, then the value will decrease over time. I think what you meant was that if demand increases linearly, but the production of new bitcoins drops off, then their value will increase, which is true.[/QUOTE] Yes, thank you.