Bitcoin Hits New Record, Crosses $250

Tyler Durden's picture

It seem like it was only yesterday that Bitcoin crossed $200 for the first time. Oh wait, it was.  It is now 24 hours later, and as parabolic rises imply, it is only "fair" that the price of the electronic currency (expressed in the same currency that incidentally can be created out of thin air and is used to transact for BTC) is some 25% higher, or well over $250.... In one day.

As before we will merely continue to watch in quiet amazement as the parabolic chart gets parabolic-er, but we will suggest this: those who absolutely must chase this runaway chart should not "invest" one penny more than they are comfortable losing, and as we said before, "This leaves us with the question, which line item on the Fed's Balance Sheet is 'Virtual Currency Transactions'... what better way to destroy an up and coming currency competitor than to blow a bubble in it and explode it?" Because the fervor for BTC now will only turn to all out loathing and disgust if and when one of the major buyers in the illiquid market decided to take out all stops to the downside (if only Mt Gox had stops that is) and send the price of BTC, expressed in paper money and thus analyzed not as a currency but as an asset, plunging.

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A_Dog's picture

Woke up at exactly 6:00. I need no alarm clock. Two women saw my bitcoin investment and woke me by sucking my cock, which by the way is 17 and a half inches. I didn't need to shower, because my body self cleanses and mypores emit the manliest cologne possible.

I got in my 2013 Lamborghini Murcielago that I bought for 10 bitcoins and another one of my fuck buddies was waiting in the passenger seat. She was in the car all night, because she couldn't sleep without me having penetrated her. 

She hopped on me and started riding my dick while I squeezed her tits and drove with my knees. In three seconds, I arrived at the gym, which was fifty miles away. I threw her off me, and she quickly returned to the passenger seat, where she would sit until I got back. When I got out the car, I flexed.

My bulging, huge, muscles ripped my shirt off, and six women lined up. We had an orgy, which didn't last too long. Each woman climaxed when my cock came within five inches of her pussy, and went into an eternal state of euphoria after I put it in. I came, and three hundred gallons of semen shot out. It landed in Ghana, and ended the drought.

I hovered into the gym, because the ground was too scared of my calf muscles to touch my feet. After benching seven thousand tons, I squatted four million kilograms. I started doing my four hundred laps around California, but I got a phone call. It was a conference call with nineteen supermodels and bitcoin president. 

They orgasmed after hearing my voice. My fuck buddy in the car was getting lonely, so I went back. She sucked me off as I took the three second drive back home. I left her in the car and went inside, to type this to you. Be honored. Bitcoins rule.


johnQpublic's picture

if this hockey stick is as legitimate as al gores climate change hockey stick, then lookout below

The Juggernaut's picture

THIS is how gold should perform if it wasnt was control by JPMorgan

draug's picture

"Why isn't my gold rocketing in value? The guy on the internet said it would. It's not FAIR!"

kaiserhoff's picture

It's a momentum trade, Tyler.

Ain't ya learnt nuttin'?

Now...., what can I pair that with.  Oh yeah.

KARDASHIAN   VIRGINITY...   2 microseconds ahead of you, Hundin.

Ignatius's picture




Don't you?

Don't you?

Have an i-dea?  (volume to LOUD)

NewThor's picture

The King has no Bitcoin clothes!

draug's picture

The conspiracy theories ("the central banks are doing it") are just stupid. This rise in BTC is easy enough to explain: bitcoin has gone viral, with some extra help from the Euro/Cyprus crisis. Just look at all the media attention it's gathering right now, bringing in lots of new people who try it out. In a thin market like BTC this has an enormous impact.

It's impossible to say how much of todays valuation will go away when the speculative premium pops, my guess is that right now is a horrible time to buy BTC. However, after it pops there will still likely be more total users than before the bubble started, so I'm a long term optimist.

EscapeKey's picture

Some people refuse to take responsibility for anything, and thus, it's far easier to blame some invisible entity for something they think just ain't so.

Not saying that the BIS doesn't exist, etc, but some of the shit I've heard on the Alex Jones show frankly makes me question whether I should laugh or cry.

EscapeKey's picture

Step 1: Go long bitcoin.

Step 2: Short bitcoin, borrowing your own long in the process. But obviously, you have to promise yourself that you'll return your bitcoin at a later point, or you won't get to borrow your bitcoin.

deKevelioc's picture

DARPA. the mystery developer of Bitcoin, will come out with a future after every PM investor dumps his real money to jump aboard the Bitcoin train.

Scarlett's picture

I think DARPA was a little naïve to release open-source code that's basically tried and true and everybody understands.  


At any rate, /r/bitcoin is growing super-exponentially.  Now reaching 1000 new subscribers per day, and accelerating super-exponentially.  There is still fuel to go.  



Dingleberry's picture

Bitcoin chart looks like one showing the price of half-eaten boxes of Twinkies on ebay when you fat fuckers were panicking about them going out of business.

When bitcoins can be used for hookers and coke, wake me up. I'm all in at that point.


draug's picture

There's already a large black market economy using bitcoin. Not sure about hookers but you can probably find coke pretty easily.

Wile-E-Coyote's picture

Why do I get the feeling bitcoin is a Muppet trap.

LawsofPhysics's picture

Ha!  Plus one for the "Al Gore hockey stick" remembrance.  Wake me when I can buy diesel for my tractors with bitcoin.

vmromk's picture

Selling all my physical gold & silver and going all in on Bitcoin.

Then when it blows up, I'll have no excuse but to blow my brains out.


WmMcK's picture

"He reads the letter
How they are paid in gold
Just to babble in the back room
All night and waste their time
And they wandered in
From the city of St. John without a dime."

... Lies of riches ...

In the land of milk and honey --
oops that's from Can't Buy a Thrill,
another ancient relic.

Love all of the Dan.

Smegley Wanxalot's picture

No worries


Soon enough there will be a Federal Bitcoin Reserve Bank, and then and only then through Computative Easing will there be enough bitcoins to fill the needs and demands of a growing world economy which shall not be lynched on a Cross Of Gold.

CH1's picture

I think everyone is expecting a pullback at some point here.

The question is long-term demand. Either it's there (and it should be) or it's not.

unrulian's picture

it's going to go up forever....



NewThor's picture

Speaking of things that are digital and doing AWESOME right now.

Part 2 of my Epic Series Comet ISON WTF NASA?

Is hot off the press....

Part 1 is here...

Enjoy, bitchez!


kridkrid's picture

that was pretty funny. My attention span only got me through 2 minutes of the first installment, but funny.

francis_sawyer's picture

<ZOMG> Buy now or get priced out...

NewThor's picture


in digital bullets. They are going to be awesome as soon

as they are invented properly.

Anasteus's picture

A must-have desktop wallpaper for all Bitcoin freaks...

draug's picture

We've had this exact pattern once before, when BTC after some media attention exploded to the "ridiculous" valuation of $30 - before collapsing. But note that it never collapsed back to anywhere near the pre-bubble values. I suspect the same will happen here. BTC can hit $300-$500 easy from this point before the bubble pops. But it won't go back down all the way. In fact bitcoin may continue to rise towards a stable value through a series of violent bubbles.

It's hard to predict the future, but long term I'm a BTC bull.

licutis's picture

The price only colapsed due to the hack and crash of mtgox, its really hard to say what would have happened if mtgox remained secure at that time. 

deKevelioc's picture

"Pullback?"  Sure, buy on the dips, and watch this thing crash on your face.

deKevelioc's picture

You must be joking; someone junks my comment.  Now we really know that this thing is a bubble.

deKevelioc's picture

Now stop that junking.  It's not funny.  I mean it, seriously.  I'll tell your mother.

deKevelioc's picture

It's 4:34 p.m.; do you know the price of a Bitcoin?  It crashed in your face, as I suggested.  Come on, people, get the real thing: gold and, especially, silver.  Stop playing around and get the physical stuff.

Bearwagon's picture

Careful with that Murcielago: Fire-hazard!

Zgangsta's picture

But everything else was absolutely true.

Downtoolong's picture

Just a little more hype and bravado and you’ll have the script for a Dos Equis commercial.

“Stay greedy my friends”

francis_sawyer's picture

You just characterized what the Get.Off.My.Lawn crowd thinks about the mentality of bitcoiners...


Remember folks, francis_sawyer is the resident nutjob around here...

AlaricBalth's picture

Your comment allowed me a moment to reminisce about growing up in the '60s and 70's. I recall playing baseball on the backyard. One time, one of my buddies nailed a liner into the neighbors bushes behind his house. I ran over to retrieve it and the this old dude came out yelling at me, "get out of here!" I ran like hell and he kept our ball. Later that night my buds and I put some sugar in his gas tank. ;-)

I don't see the kids playing ball outside anymore. Kinda sad...

LawsofPhysics's picture

"sugar in the gas tank"  - fortunately, by the time we were kids, we knew where the Roundup was and how to use it.  That old man never did figure out why nothing ever grew in his yard again, ever...

Oldballplayer's picture

We just broke into his house that night, put as knife to his throat and gave him 30 days to sell his house and move out.


He was gone in a week.

LawsofPhysics's picture

Unfortunately, this opld man was a well armed and and trained Vietnam Vet.  Wasn't going to go threre.  Be careful what you wish for.

CH1's picture

I don't see the kids playing ball outside anymore. Kinda sad...

It is. Of course, parents these days know that every person on the street is a pedophile killer.