31–40 of 209 posts
The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying through Mt. Gox, which is driving the price up on other exchanges, and closing the gap due to Gox's illiquidity.
Speculation, but could some of the new money be coming from CryptoLocker[0]?
[0] http://www.bleepingcomputer.com/virus-removal/cryptolocker-r...
I came here to bitch that the inflated MtGox price doesn't count... Then I realized that is the non-MtGox price... So it's officially a bubble? sigh
On a related note, ever heard of the bubble theory of money? The theory goes, that good money is essentially a bubble that can't be popped easily. People compare Bitcoin to the tulip mania, but that is a wrong analogy, given that tulips can be cultivated by anyone to any degree -- whereas Bitcoins are capped by design.
Earlier quoted context omitted.
On a related note, ever heard of the bubble theory of money? The theory goes, that good money is essentially a bubble that can't be popped easily. People compare Bitcoin to the tulip mania, but that is a wrong analogy, given that tulips can be cultivated by anyone to any degree -- whereas Bitcoins are capped by design.
. . . but the quantity of all crypto-currencies is unlimited.
The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying through Mt. Gox, which is driving the price up on other exchanges, and closing the gap due to Gox's illiquidity.
Looks like Mt. Gox no longer has such a huge share of the market. Bitstamp is almost even with them.
Earlier quoted context omitted.
What stops someone from creating their own Bitcoin alternative? Many such systems exist.
The fact that small number of people use it. They will be not a real alternative unless they have some better features than Bitcoin itself.
If you cannot identify a particular, distinguishing feature of Bitcoin that accounts for its popularity, why should we believe that this is not a bubble?
* SilkRoad shutting down? Bitcoin is doomed.
* Mt.gox is not paying in time or at all? Bitcoin doesn't work.
* Asics? There will be a flood of new coins.
And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000.
I think Bitcoin is an interesting phenomena to watch. Being too solid for the quakes that it got, means it's going to stay for a longer period.
I'll be just watching, meanwhile.
Earlier quoted context omitted.
On a related note, ever heard of the bubble theory of money? The theory goes, that good money is essentially a bubble that can't be popped easily. People compare Bitcoin to the tulip mania, but that is a wrong analogy, given that tulips can be cultivated by anyone to any degree -- whereas Bitcoins are capped by design.
Tulips and gold also don't have built in rock solid transaction protocols
The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying through Mt. Gox, which is driving the price up on other exchanges, and closing the gap due to Gox's illiquidity.
> a lot of this rise is coming from new money. Speculation, but could some of the new money be coming from CryptoLocker[0]? [0] http://www.bleepingcomputer.com/virus-removal/cryptolocker-r...
The fact that the Gox gap is closing makes me suspect that a lot of this rise is coming from new money. I'm guessing few new Bitcoin purchasers are buying through Mt. Gox, which is driving the price up on other exchanges, and closing the gap due to Gox's illiquidity.
I'd love to see that carefully defined.
It's completely anecdotal, but I'd assume that there are a number of other people like me who might be contributing new money to the Bitcoin market.