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Bitcoin Hits New Record, Crosses $250
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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Most people on the street don't understand computers enough to buy Bitcoins anyway. This could be a bubble because barriers to entry limits public interest.
I like Bitcoin but the post Cyprus move seems too good to be true or sustainable.
If joe bag of donuts can't understand bitcoin mining, and securing their wallet, they will only use bitcoin to escape govenrment controls. It will be a medium to convert from one government fiat to another.
I think TPTB could easily pump and dump Bitcoin to scare the sheeple away.
Bitcoin, like gold, has it's place in a portfolio, but going all-in is foolish.
Good points on the medium term. But if bitcoins goes mainstream people will make more accessible user technology. There's no reason why bitcoin can't be made to work more or less like a debit card in the long run - you won't HAVE to know anything about mining or security (other than common sense) to use it.
But try explaining to someone that if they lose their "debit card", it gets stolen, or they forget their password, that it's gone forever.
The people that buy bitcoin are the same people that buy metals. This will end up a massive transfer of wealth from the paper into metals. Bitcoin people are not going to put their gains in into USD manipulated paper. I don't like Bitcoin, but I love the way it humiliates the Fed and flanks their lame delaying tactics.
Like many markets, insiders are selling on the way up and the bag holders are buying out their positions in advance of a collapse.
Bitcoin (sign: BTC) is a decentralized[9] digital currency[10][11] based on an open-source,[12] peer-to-peer internet protocol. - from wikipedia.
I see, so bitcoin is web based software.
"I see, so bitcoin is web based software. "
No, it is an Internet protocol, it does not need the web. The World-Wide Web is just a useful application on the Internet.
Google trends for bitcoin:
http://www.google.com/trends/explore?hl=en#q=bitcoin
Country with the highest level of interest according to the search voiume index is Russia
i wonder if that new skype bitcoin virus mining for bitcoins or buying bitcoins on behalf of the victims ?
Now wait a minute. I'm a buy and hold strategist from the days of the TVIX ETN. I know a few things.
There are 11,000,000 BitCoins and 11,000,000 x 100,000,000 Soshati. My guestibate is that there were somewhere around 250,000 or less original holders of the 11,000,000 BitCoins. With volume relatively steady at (I'm not sure about how much volume there is) around 100,000 or so per day what you are seeing is actually an orderly ascension.
In other words Bitcoin can only rise so fast based on the amount available for trading until such time that availability equals demand.
Therefore Bitcoin will continue to rise until after the soshati becomes the basic unit of trade and the Bidcoin exceeds the commonly referred to value of exchange. In other words somewhere around $796,000 per BitCoin.
During its continued rise in value tremendous opportunities will open to retailers that open up their markets to BitCoin.
I mean a central bank is going to have to stand in line with everyone else to attempt to build a position. That is not easily done in such a thinly traded currency.
You should work for Sprott.
What happens when someone else creates a new bitcoin system?
ByteCoins.
The same rules used and applied to BitCoin can be created again in an entirely different network, say instead of a maximum of 21,000,000 bitcoins.
10,000,000 max for ByteCoins.
I'll start the bidding at $0.01 cent, who wants in on the ground floor? These fuckers will trade for $500.00 a ByteCoin within' days. HURRY!
Get back to me once you have the P2P infrastructure set up, have implemented and published your open-source crypto algorithms and had them reviewed by major players in the crypto space, have exchanges moving 1/2 billion US dollars per month in trades, and have about dozen different mining clients written for it.
If bitcoin continues its rise, competitors are inevitable, but the first mover advantage is still there.
Nevertheless Google search replaced all of the early search engines. And Facebook pre-empted MySpace.
I wonder how.
there's litecoin which is turing into the silver of crypto currency mainly since it is mined differently.. older rigs can dig for it while the new ASIC aren't what you'd use for that
so it has its place... it separates the men from the boys
Does different mining create a complimentary and not competitive product? Don't they have the same basic properties otherwise?
1. Yes; while your video card is mining bitcoins, your CPU can mine litecoins, so you can mine both at the same time.
2. Very similar. I have not looked deeply into the technical details of litecoin. Might be worth looking at, now that they are around $4 USD per LTC.
he will have to convince the people to start using his bytecoins instead of bitcoins. On of his arguments could be - you can mine bytecoins cheap whereas mining bitcoins has already become very difficult (because most are already mined)
https://bitcointalk.org/index.php?PHPSESSID=fhrq5k8i11n1l8cmu6tlu84cc5&t...
MAJOR:
-BTC Bitcoin - first, strongest, most accepted, most mined, high volume market, a true currency
-LTC Litecoin - second only to BTC , faster than BTC, Small efficiency gap between GPUs and CPUs , ASIC - proof
-NMC Namecoin merged mined with BTC, used for alternative p2p domain system
MINOR:
-PPC PPcoin Proof Of Stake [very innovative, low energy ] , compatibile with BTC miners
-TRC Terracoin based on BTC, fast difficulty adjustment - miner-jump resonance resistant
-DVC Devcoin merged mined with BTC, 90% of generation goes to foundation, 10% to miners
-IXC IxCoin merged mined with BTC, premined 580k coins but still alive
-NVC NovaCoin - scrypt hashing[like LTC] , proof of stake [like PPC] , controversial
-FRC Freicoin back alive. 4.89% anual demurrage. for the first 3 years 80% block subsidy goes to foundation, 20% to miners
NEW:
-Bytecoin- the 1:1 bitcoin copycat. really bad difficulty adjustment for altcoin, extremally high hashrate for that young coin.
DEAD / DYING :
-LQC Liquidcoin made to be very fast at constant difficulty, dead [pool closed, exchange closed]
-SC Solidcoin - dying (10-20% fee), designed to improove IxCoin, hard to be neutral on this one, 1.0 was a premine scam, 2.0 says BTC is pyramid scheme.
-GG Geist Geld experiment on BTC algorithm, how fast can it go? just for sience.
-TBX Tenebrix great idea of cpu-friendly mining with scrypt, but premined with 7.7milion coins - alive but little support due to premining
-FBX Fairbrix - Tenebrix without the premine, bad launch, alive but little support.
-I0C I0coin - ixcoin without the premine. Dead
-CLC Coiledcoin - some nice ideas, but killed in 51% attack
-RUC Rucoin - copy of bitcoin, only difference is that is developed in russian not english. reborn much different, not confirmed if it is the same blockchain, both scrypt[like LTC] and sha256d , nice client !warning! not opensource !
-TimeKoin - PHP webbased coin, alive but not used or traded.
-Beertokens -abitious [impossible?] try to stabilize price against commodity.
-BBQ BBQCoin - killed in 51% attack on launch, now revived and looking good
-MMM MMMcoin - Dead coin by notorious scamer SPMavrodi, named "yes we can" "my mozem mnogoye"
NOT A COIN / NEVER FULLY LAUNCHED:
-DigiCash - historical try for digital curency by David Chaum, failed. http://en.wikipedia.org/wiki/DigiCash
e-cash and e-money are part of / continuation of digicash . Possibly where Bitcoin came from.
Ripples (XRP) - http://ripple.com , no mining - all coins available at start 80% foundation, and 20% develeopers. centralized, not opensource. not designed to be a currency, but an IOU exchange. Very innovative and usefull, but "not a coin"
Amazon Coin - centralized private scrip launched by Amazon and pegged to USD, not cryptographic at all, just a name.
WEEDS never realy active and now dead - https://bitcointalk.org/index.php?topic=24209.msg300830#msg300830
Groupcoin - still alive but never realy active https://bitcointalk.org/index.php?topic=24813.0
Opencoin - opensource version of digicash, opencoin.org , not launched yet
RealPay 100% coins at start, centralized, never realy launched ,site is dead https://bitcointalk.org/index.php?all=;topic=62565.0
-Qubic - coins are produced at the rate determined by quorum of miners, not set by developers. Never launched.
You are not a good troll your masters should cut off your paycheck since you suck at the disinformation game.
Thinly traded against major currencies maybe, but Mt Gox does over 200 million USD in trades per month just by itself - and that is just one of the exchanges...
$796,000 per BitCoin....
1. I don't have 796K so I wouldn't buy one
2. I don't know a lot of people who would.
Even at 250$ I'm wondering who's buying bitcoins.
cheap at any price...
yeah, you dont get how this works, i keep seeing this fud thrown around. BTC's are divisible to 8 decimal places or 100 million smaller units commonly called Satoshis. 1 Satoshis = 2.5x10^-6 dollars (@250 BTC).
I don't have the $600K to buy a Good Delivery Bar of Gold, so I guess gold is not for me or most other people in this world; only the 0.1% can afford gold :(
Try .0001%
All successful altrenative currencies are eventually outlawewd by central banks.
But, you say, bitcoin is an internet phenomenon- it transcends borders and any form of national control.
Then boitcoin will be outlawed when the internet becomes a part of the control grid itself.
How much will your bitcoin be worth when your access to the website is blocked?
Yea, this looks sustainable.
http://www.youtube.com/watch?v=DlJEX04wG_0
Buy while it is still dirt cheap! Soon we will be buying Satoshis for $250, while word "Bitcoin" will be rarely used.
How about this scenario: The central banks of the G7 created Bitcoin. It will be the new reserve currency and be capped at $100'000. This will soak up the vast amount of liquidity and give complete cyber control over money to the elite.
these post are really showing the true character of the ZH readers.. scared sheep dying to get cornholed
proshares furiously working on 3X LONG and 3X SHORT BTC product
the fact they call them 'products' is swell ain't it?
So, the central bank plans to buy up all the BTC in existence on order to kill
It?
They don't have to.
Because bitcoins are limited, it will destroy itself through deflation. They even state that bitcoins will suffer deflation on its faq page.
And since the dollar and all paper is debt based and never deflates and only inflates it will be a tug of war which will result in a normalized and fairly stable exchange rate at some point.
You are very close but I have a different view point that I have often expressed and which I think most miss.
The key words you used are "the dollar and all paper is debt based". But what I disagree with is the rest of your statement "and never deflates and only inflates"
Here is why.
Consider all the massive printing. We all know about the national debt of $17 Trillion.
In addition to that, the FRB prints $85 B/month for the banks
An audit of the FRB showed that the Fed also printed a massive $16 T in a five year period for various foreign financial institutions during the last crisis.
That's over $32 Trillion in known inflation monetary policy. Do we even want to know what is off the books?
Shall I mention the municipal bond obligations?
How about the unfunded medicare and SS obligations since SS is not paying out more in benefits then it takes in.
My point in bringing up those figures is that without the massive printing that is being done, The US and the world would suffer a massive debt collapse. They have to print just to keep the game going.
So yes, in a direct sense, today, the dollar inflates. But it (they) can't keep it up. They are printing just to keep the pieces together, not to boost growth in any GDP.
Bitcoins or any other form of currency can't achieve a stable standard of exchange until either bitcoins or some other currency (such as PMs) is ACCEPTED as the standard of exchange. At some point, a person still has to convert bitcoins or gold to fiat. In other words fiat is the standard of exchange, not bitcoins or gold, thus bitcoins or gold won't achieve that stable standard of exhange.
I wish it weren't so as I dislike fiat and the way banks use it.
All that money liabilities or not unless they go into full default has to eventually make its way into the system through the economy itself. The second it does the market will aka prices will hoover the majority dollars into bitcoins or whatever deflationary currency you want to use if the other is rising too quickly in consumer prices. As long as the vendors price in both the market will make sure which currency gets used. The consumers will jump back and forth between depending upon the better deal or psychological. It is a ying/yang, checks and balances type of deal. See my below post about pricing. If the FED and USD goes tits up then that is another story but either way I preserve my face value in bitcoin in that case i.e. 10 coins for example. I can turn them back into another inflationary fiat like JPY, gold or whatever elsewhere since it is not tied to the central bank. Either way I walk away with the quantity representing my store of wealth intact value is another story. Way I see it bitcoin or crypto-currency in general is the ultimate fiat hedge against the Treasury Bill going tits up. Invest however you want but if debt is money and Treasury Bills are debt just converted into Federal Reserve Bills than crypto-currency being credit based is a hedge call/put etc against.
Good comment, upvoted you. Although fiat "is the standard of exchange" until it isn't. I feel the ground shaking and I don't believe it to be imaginary.
They will NOT let that happen. When the bernank retires from the fed he will be called upon to be the new chairman of the bitcoin reserve bank and expand the money supply to 42,000,000 bitcoins. This will fix everything.
Who is "they" and why ascribe omniscient powers to them?
this is great.. if gold goes to the moon that is fine and godwilling, but if bitcoins does it is evil deflation that rise to kill it
...so you ignore everything else on the faq page except whatever fits into your own fabricated reality?
My bad, I misread the thread and thought it was a Netflix post (sarc)
Just try and BTFD. I dare you.
Only one problem there Tyler(s) it is not inflating it is actually deflating.
Some simple math for arguements sake let us say we have something that costs exactly a dollar with an exchange rate of $100 to 1 bitcoin. To price that item it will either be 1D D=dollar or .01B B= bitcoin. The exchange rate ups 100% to $200 to 1 bitcoin. Price of the item stayed at $1 it is now 1D or .005B. When runaway inflation happens and that price shoots up to $100 bitcoin is going to normalize the pre inflationary prices which is 1B or 100D or if the exchange rate is $200 to 1 bitcoin the price will be .50B or 100D.
When Bernanke and the rest of printing fools practicing MadMadnomics cause a hyperinflationary death spiral to cut the debt in half anyone sitting on bitcoins and any vendors accepting them are going to be hedged against hyperinflation destroying all purchasing power. That is the beauty of bitcoin and crypto-currencies in general fiat or not they are the deflationary yang to inflationary ying of debt based fiat. The will play a part in the whole deleveraging of debt incurred by the current debt/based fiat currency model that never had a deflation bleeder value built into it.
Checks and balances bitchez.
Cool story bro, let me know how it works out for you. I'd rather have something tangible in my hands, you know, Au, Ag?
Don't forget to put your flash drive with your 0101010101's in your safe before you go to bed tonight.
I'm buying gold all the way up with bitcoins... so who's stack is rising in value more?? If Benny and the Morgue keep gold's price down, you have to increase the size of the stack to gain value..
you are just sitting around wankin
Now listen up there 3 letter agencies, government trolls, PHD economists living in Ivory Towers, you want to inflate the shit out the USD to cut the deficits and debts back to managable levels without turning the whole country into lord of the flies and the whole populace revolting against you, you'll leave crypto-currencies alone, actually encourage them while you play your hyperinflationary game to keep from taking it out on our purchasing power then deal with legalities of crypto-currencies afterwards once you get your shit in order.
By that time I will have sold by BTC and bought - even more- physical silver.
What you do with it is your business. That is not anyone else's concern except yours.
I just hope the taxman agrees.
I should have put the flipside arguement here. Let's say prices collapse and we have $100 to 1 bitcoin ratio. Let's say the $1 item price decreases to $0.50. At that exchange the price is 0.50D to 0.01D or if the exchange flips to $200 to 1 bitcoin it is still 0.50D to .005B either way the deflationary currency holds better purchasing power value. The fact of the matter is no matter how you jig the relationships you can't deflate prices enough in dollars to kill the purchasing power in deflationary credit based currency to make up the gap. The second that happens you violate the whole creation structure of each currencies here like dividing by 0. With that said by having both being used and accepted by vendors one will counteract the other preserving purchasing power and relative pricing. It functions in essence as having a gold standard as long as people can flip between both at will as one as pulls and against the other. That jumping around will create relative stability which is the same as a gold standard. It is just a fiat ying to the other fiat yang. The businesses then can offer all sorts of incentives one way or the other to use one or the other which should kickstart spending and in turn economic growth. You still need real production but this will tease money out of pockets and get velocity going in spending if done correctly. One then gets converted to the other as need to for accounting purposes.
Bottom line as of now our currency structure runs a single ledger debt (inflation) side only this makes it a double ledger since we now have a credit (deflation) side. All pricing is priced on both sides of the ledger now. If double ledger accounting pricing is that revolutionary well then shit call me Che Guevara with a pocket protector.
Friends, Romans, zerohedgers, lend me your bitcoins...
THE REAL BUBBLE FED RELEASED TO CONGRESS YESTERDSY/..............EXACTLY WHY BITCOIN IS NEEDED... THE PRIMARY DEALERS and TBTF are TBTE
Hilarious.
The radio show "Free Talk Live" which promotes bitcoins, a caller asked how he could convert a large quantity of bitcoins back to US dollars without problems from the banking or Governmnent authorities.
Question 1) This caller took advantage of the run up in bitcoins (good for him and I hope you or others were able too). But why would he want to convert those bitcoins back to US Dollars?
When you can answer that question you can answer question 2.
Question 2) What do these exchanges eventually have to do with their bitcoins to pay for their operations such as electricity, rent, taxes, payroll, etc?
you new to currency trading? need to take a class?? what if you did the same thing with USD<>JPY but cant spend yen in USA?
you can use bitcoins for more and more things everyday.. i though ZH was suppose to be the place for informed people but just fearmongers show up here
New high now, $266.00.
aaaaaand.... it's GONE!
My hocky stick is jealous
Is Bitcoin doing what FOFOA says FreeGold will do?
The way I understand it, should freegold happen, it will be an event, not a process......
How long before a second digital currency is errected?
And a third and a fourth...
And the band plays on.
how long before you realize you dont have a damn clue about all this here crypto cash?
Are BitCoins a beta-test for a one world global digital currency?
http://www.youtube.com/watch?v=DlJEX04wG_0
That or, what happens to the crazy dance when the lion roars?
I didn't see Rick Astley. WTF?
If it is going to be a new one world currency then I would buy up big and wait it out. You'll make out like a bandit.
Headed to one quadrillion zimbucks today. Woopee!
I just bought a caribbean vacation with the proceeds of bitcoins. If by the time I come back, the rest is worth nothing, I'll have a sun tan. If they've gone up to $1000 per btc I'll retire in the caribbean. Either way, thank you to the very smart brains who created it. Recognition of their genius is in order.
And to the negative neanderthals who keep blindly criticizing it, there are hundreds of startups and individuals who are now working on ways to improve this market. It is creating jobs and just plain excitement, regardless of whether it is an eventual success. It is doing exactly what invention and innovation should do. Remember the American way? So, with all due respect (which is none) pull your heads out of your asses and stop being like music critics who could never write a song.
Those guys that write computer viruses that steal people's bank account information are pretty smart too.
You sound just like RoboTrader. "My Netflix long has really paid off,gt in five years ago at $30 and now its $270 a share. At this rate I'll be retired in a month."
I don't doubt that there are people that have bought a few big ticket items with the proceeds from Bitcoin. However, they are most likely a very small minority.
From what I have read on Bitcoin forums is that anyone trying to cash out right now is being told they need to wait a very long time. Orders to and from the exchanges is taking a very long time.
Paper gains are paper gains. Realizing them is another story.
One of my friends made a couple of $M out of netflix. I thought he was crazy. The whole notion of a stock is meaningless these days. Right now BTC is the only non-manipulated market and it is fun to watch. The number of people whose programming and crypto skills have gone up because of bitcoins is amazing. And those skills are transferrable into any market. Including hacking. I can't see any negatives with this. Sure it may pop but damn what a ride.
I've read your comments mijev and you are 100% correct in all you have said. I find it so refreshing to read commentary from someone like yourself who actually understands what Bitcoin really is. The debunkers, in all due respect to them, simply are not grasping what BTC really represents, a revolution agains the fiat money system. The future of BTC is the brightest of anything I've ever seen, even brighter than AAPL at $1. And the most glorious aspect of it all is that those bastards like Jamie Demon can't fk with it. Sure, there will be tradable dips and that's wonderful and as you say, a great deal of fun. But the trend is up. Period! Actually, from the perspective of pure logic, BTC can "never" actually develop a downtrend on the largest scale. Yes, it might have to endure a down "trend" that lasts perhaps a couple of weeks at most. But I don't even see that as a possibility any time this year.
You don't know what you're talking about. The authorities do NOT like competition with their Fiat monopoly, and it is TRIVIAL for an entity with the spending power of the US government to access enough computer power to succeed in a 51% attack against the bitcoin p2p network.
http://peculium.net/2013/04/10/harvard-business-review-reduced-to-quotin...
Go check out the forums on the Butterfly Labs site. They sell Bitcoin mining computers, (of which they haven't shipped any), and the price is based on the hashrate the unit is capable of producing.
When Bitcoins were a few dollars you could buy a Bitcoin miner with a 50 GH/s for $299. The price has climbed rapidly over the past month and the same machine is now $2499. Same hardware and the same mining rate as the $299 machine. People who pre-ordered at the lower price have been told they aren't getting machines.
Butterfly Labs supposedly sells a super box that has a 1200 GH/s rate, that is sold out and has no price listed. Yet there are tables that show this super box is capable of mining Bitcoins at a rate that will generate $450,000 a month at $140 per Bitcoin. So at $300 per bitcoin you are looking at over $1 million a month. Even the slow 5 GH/s machine is capable of pulling in a few thousands dolars a month based on the tables.
The magic boxes plug into your computers USB port and run from there, mining Bitcoins. Really?
UNBELIEVABLE.
Wow, has the price gone up or down in BTC?
BFL IS A SCAM RAN BY A CONVICTED FELON (ponzied foreign lotteries to grandmas..)
Avalon is the truth and good luck trying to get one now
I am most definetely a Precious Metals guy (just over 70%), but you know what? Right now I´m wishing that the 100 BTC´s I bought back in January would have had another zero - because while my metals have done very little lately (besides letting me sleep in peace every night), that insignificant purchase I made a couple of months ago now makes up over half of one percent of my assets and is rising infinately faster than my PM´s, stocks, real estate and especially fiat ($ & €).
If you think of Bitcoin as a gold market without any possibility of the banking mafia manipulating it, it's makes perfect sense that BTC should be exploding higher like it is. It also makes sense that it just keep on rising into the thousands because there's no possibility that the FED or any of its minions are going to suddenly crash the BTC market. What are they going to do, go into the Bitcoin overnight futures market and short the shit out of it? Good luck with that Jamie Dimon.
If your precious metals holdings give you some comfort and allow you to sleep better at night then BTC should have an even greater effect. With 100 BTC you should be sleeping until noon with no problems. And it's nowhere even close to being a bubble. You could add a lot more sounds to me like and if I were you I'd get right on that. The entire market cap for Bitcoin is only 2.5B at the moment. Just wait until the Japanese and/or Europeans figure out that their currencies are soon to be not only worth less with each passing week, but stolen right out from under their pillows. The entire global banking sector has quietly been getting set up to clear the way for the robbery of bank accounts world-wide. Even in Canada, the one country touted by the IMF as having the safest banks in the world passed a law into its 2013 budget last month that paves the way for a Cyprus-like raping of Canadians' savings at some point in the future. You know why that happened? Because every central bank in the world was given the directive to "set 'em up boys". Don't you worry... those folks in Japan or just Italy alone could absolutely ensure that BTC rises up into the mulit-thousands, far, far higher than the price of gold could ever get because the gold market will "always" be slammed down by the FED or JPM or GS or any one of those banking monsters.
Personally, if I were you i wouldn't hesitate to increase my holdings in BTC from half a percent to 3 or 4%.
Dont think I have not been considering it... 3 or 4 percent is too much (I´d lose sleep) but maybe another 115 BTC´s (I only have 85 left because I sold 15 yesterday for two oz of gold). A nice round amount that would get me at over one percent. The problem is that this ¨waiting for the dip¨ thing is taking a bit longer than I expected...
Douglas, I don't believe there's any reason to be expecting a dip of any size, for two reasons. First and foremost is that the normal dips in "every' other market you and I have ever witnessed have been due to factors that are not present with Bitcoin... like Jamie Dimon slamming down the silver market in the overnight futures on a regular basis for example. That literally "can not" happen with Bitcoin.
The second reason I'm 100% convinced that Bitcoin will not drop much, probably for years to come, is because of what happened in Cyprus. Cyprus essentially launched Bitcoin into the public limelight and it has risen 150% in two weeks as a direct result. The world's first Bitcoin ATM has already been set up in Cyprus. Just wait until the Italians discover that they're next for a haircut. The Italians alone could easily, very easily, shoot the value of BTC past the price of gold. I'm so certain that the average human being hasn't yet grasped what Bitcoin really is yet that my holdings in BTC are considerably higher than 5%. And I sleep very well with that knowledge. With the very best of rational thinking that I have been known to employ, I have absolutely no doubt that the risk in owning Bitcoin is near zero. The only way Bitcoin is going to go out of existence is if the Internet goes out of existence permanently.
I wish you the very best :-)
I wish an insider told me to get in before this massive ramp...
Is that a Bitcoin in your pocket, or are you just happy to see me?
Nothing goes up in a straight line?
Fuck bitcoins