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Bitcoin exchange rate reached $100 USD per BTC

bitcoincharts.com

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Re: Bitcoin exchange rate reached $100 USD per BTC

#11

Post by niggler »

oleganza wrote: post #6
niggler wrote: post #3

I hope that people who got in last year or earlier this year are starting to sell some of their bitcoins, at least enough to cover the cost basis. I wouldn't be surprised to see a very sharp fall soon.

Unless these people have invested extra money they can afford to lose for the reasons to save them from inflation and confiscation. Then they still have enough cash to pay the bills, so why should they get back to fiat? E.g. I myself and many of people I know are not going to sell a single Bitcoin unless any sort of personal or global disaster. And many of them are going to spend their BTC over time to avoid interact…

You could end in gold or silver or some other precious metal as well. The ultimate endpoint need not be USD.

Re: Bitcoin exchange rate reached $100 USD per BTC

#12

Post by mikemoka »

faet wrote: post #7

This feels kinda like a pump and dump to me. I don't mind articles/projects/sites that make use of bitcoins. But the frequency of posts on how much each bitcoin is worth feels like pennystocks/etc on an investing forum. People trying to get more people to buy in. To drive it up. So they can get out while it's high.

I agree, even though the amount of bitcoins in circulation will be limited this looks too strange to be a regular trend.

Re: Bitcoin exchange rate reached $100 USD per BTC

#13

Post by oleganza »

faet wrote: post #7

This feels kinda like a pump and dump to me. I don't mind articles/projects/sites that make use of bitcoins. But the frequency of posts on how much each bitcoin is worth feels like pennystocks/etc on an investing forum. People trying to get more people to buy in. To drive it up. So they can get out while it's high.

So who and when is going to get out? And out where? To fiat currency that is controlled, inspected, can be frozen, taxed and stolen? Bitcoin grows like crazy because it is a money proved to work. It survived exchange hacks, stolen wallets, viruses, user mistakes, network-affecting software bugs and government seizures of bank deposits. It allows you to hold something in your pocket that nobody knows about and you can split it in 100 pieces and send to 100 people in different countries in a matter of seconds.

Bitcoin is not a promise of future delivery. Like William Gibson said, "The future is already here — it's just not very evenly distributed."

Re: Bitcoin exchange rate reached $100 USD per BTC

#14

Post by grovulent »

People like Max Keiser are calling 100k to 1mill per bitcoin. Hard to imagine. I left my gpu running for a few weeks a year or so ago and mined myself 1 bitcoin. I figure that should Keiser's prediction comes true - it will be a nice easy pay day - if not, I didn't waste much time, energy on it.

I've been looking at it lately though and thinking that it surely must drop back soon. I'm thinking a drop back down to 15 us is reasonable.

Re: Bitcoin exchange rate reached $100 USD per BTC

#15

Post by TylerE »

oleganza wrote: post #13
faet wrote: post #7

This feels kinda like a pump and dump to me. I don't mind articles/projects/sites that make use of bitcoins. But the frequency of posts on how much each bitcoin is worth feels like pennystocks/etc on an investing forum. People trying to get more people to buy in. To drive it up. So they can get out while it's high.

So who and when is going to get out? And out where? To fiat currency that is controlled, inspected, can be frozen, taxed and stolen? Bitcoin grows like crazy because it is a money proved to work. It survived exchange hacks, stolen wallets, viruses, user mistakes, network-affecting software bugs and government seizures of bank deposits. It allows you to hold something in your pocket that nobody knows about and you can…

It'll be proven to work when you can pay taxes and buy groceries with it.

Re: Bitcoin exchange rate reached $100 USD per BTC

#16

Post by Permit »

cheeze wrote: post #8

That's insane. Only a few months ago 1BTC was going for about $30 USD. There were threads discussing $30/BTC where people were saying that it was too late to get on the wagon...

What's insane is that people here were trying to find out ways to short Bitcoin when it was at here at price.

Re: Bitcoin exchange rate reached $100 USD per BTC

#18

Post by Atropos »

faet wrote: post #7

This feels kinda like a pump and dump to me. I don't mind articles/projects/sites that make use of bitcoins. But the frequency of posts on how much each bitcoin is worth feels like pennystocks/etc on an investing forum. People trying to get more people to buy in. To drive it up. So they can get out while it's high.

The whole "Cyprus people are getting into Bitcoin" narrative is a total lie as well. But I guess Bitcoin is a great learning opportunity for spotting Scams etc., as long as people don't lose too much money, it might even be beneficial.

Re: Bitcoin exchange rate reached $100 USD per BTC

#19

Post by niggler »

oleganza wrote: post #13
faet wrote: post #7

This feels kinda like a pump and dump to me. I don't mind articles/projects/sites that make use of bitcoins. But the frequency of posts on how much each bitcoin is worth feels like pennystocks/etc on an investing forum. People trying to get more people to buy in. To drive it up. So they can get out while it's high.

So who and when is going to get out? And out where? To fiat currency that is controlled, inspected, can be frozen, taxed and stolen? Bitcoin grows like crazy because it is a money proved to work. It survived exchange hacks, stolen wallets, viruses, user mistakes, network-affecting software bugs and government seizures of bank deposits. It allows you to hold something in your pocket that nobody knows about and you can…

"Bitcoin grows like crazy because it is a money proved to work."

Bitcoin grows like crazy thanks to various entities of increasing credibility building an ecosystem around BTC. Like Coinbase, which I'm sure is why a lot of people here got into bitcoin.

Listen for about 30 seconds of https://www.youtube.com/watch?v=0UKC7iaBKvs#t=830s

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