Bitcoin goes up $10 in just one hour • Hacker News Board

What are the odds that the latest exposure will be followed by sabre rattling from politicians against bitcoin? And would that scare off enough people to drop the price?

Re: Bitcoin goes up $10 in just one hour

#34

Post by aarongolliver » Thu, Mar 07, 2013, 3:58 AM UTC

retrogradeorbit wrote: post #30

This is a hugely misleading statement. Zoom out. Regarding the previous 2 hours one could say "Bitcoin collapses by $10 in just two hours". Zoom further out... Look at the last year... Looks like it might recently be a bit of a bubble.

People on IRC keep trying to tell me bitcoin is stable. I'll never understand what their reasoning is.

Re: Bitcoin goes up $10 in just one hour

#35

Post by Amarandei » Thu, Mar 07, 2013, 4:00 AM UTC

retrogradeorbit wrote: post #30

This is a hugely misleading statement. Zoom out. Regarding the previous 2 hours one could say "Bitcoin collapses by $10 in just two hours". Zoom further out... Look at the last year... Looks like it might recently be a bit of a bubble.

It wasn't meant to be misleading. It was meant to be funny. There was another post here about how Bitcoins went down $10. By the time I saw the post it already went back up. So... yeah, I just posted it more as a response to that other post.

Re: Bitcoin goes up $10 in just one hour

#36

Post by kenthorvath » Thu, Mar 07, 2013, 4:05 AM UTC

Amarandei wrote: post #21

EduardoBautista wrote: post #9

Isn't anyone worried about the Bitcoin bubble bursting? The price is going to get really high because of all the exposure it is receiving right now and people buying a bunch of it hoping that it will just keep going up and up and up.

Of course it's a bubble. But like all bubbles, some people will profit greatly if they know when to get out of it. It's a gamble.

Is freedom a bubble? There is tremendous value in freedom. Bitcoin provides this in abundance. Like P2P filesharing, no amount of legislation and regulation will wrest control of it back into the hands of the government and financial institutions - it will only continue to be embraced as public awareness grows.

It's not a bubble, it's a snowball - at least in the long run.

Re: Bitcoin goes up $10 in just one hour

#37

Post by dylangs1030 » Thu, Mar 07, 2013, 4:09 AM UTC

ricardobeat wrote: post #11

EduardoBautista wrote: post #9

Isn't anyone worried about the Bitcoin bubble bursting? The price is going to get really high because of all the exposure it is receiving right now and people buying a bunch of it hoping that it will just keep going up and up and up.

More adoption means it can only go up. Maybe too optimistic, but read http://falkvinge.net/2013/03/06/the-target-value-for-bitcoin... edit: yeah, brainfart. I meant to say that "people buying a bunch of it" can only make it go up, not that it can't (or won't) go down again.

I think you might be too optimistic. "It can only go up" is pretty much the hallmark phrase thrown around right before something goes...down.

Unless you also share the cousin belief that things can become "too big to fail".

Re: Bitcoin goes up $10 in just one hour

#38

Post by Amarandei » Thu, Mar 07, 2013, 4:19 AM UTC

kenthorvath wrote: post #36

Amarandei wrote: post #21

Earlier quoted context omitted.

Of course it's a bubble. But like all bubbles, some people will profit greatly if they know when to get out of it. It's a gamble.

Is freedom a bubble? There is tremendous value in freedom. Bitcoin provides this in abundance. Like P2P filesharing, no amount of legislation and regulation will wrest control of it back into the hands of the government and financial institutions - it will only continue to be embraced as public awareness grows. It's not a bubble, it's a snowball - at least in the long run.

Whooo, easy. I'm not arguing with anyone. Yes, I could be wrong. But what will happen if an alternative to Bitcoin shows-up. Or 10. Won't that bring the price down? You have to admit, this "freedom" is kind of hard to control at the moment and it's moodier then a women. It crashed before and it can happen again. I'm not against or for it at the moment(maybe slightly the second), I'm just waiting to see what will happen.

Re: Bitcoin goes up $10 in just one hour

#39

Post by 11001 » Thu, Mar 07, 2013, 4:23 AM UTC

aneth4 wrote: post #29

For a bitcoin newbie, what are the credible platforms to buy and trade bitcoins? For those that follow bitcoin news, I'm sure there is a plethora of "don't do this," "those guys did this," etc., but what do I do as someone who knows nothing about bitcoins and how to keep them safe?

And a bonus question: what are good Canadian-friendly trading platforms?

Re: Bitcoin goes up $10 in just one hour

#40

Post by executive » Thu, Mar 07, 2013, 4:29 AM UTC

11001 wrote: post #39

aneth4 wrote: post #29

For a bitcoin newbie, what are the credible platforms to buy and trade bitcoins? For those that follow bitcoin news, I'm sure there is a plethora of "don't do this," "those guys did this," etc., but what do I do as someone who knows nothing about bitcoins and how to keep them safe?

And a bonus question: what are good Canadian-friendly trading platforms?

i've used cavirtex.com before