Bitcoin Now Worth $1B

#1

Post by enmaku » Thu, Mar 28, 2013, 3:37 PM UTC

Bitcoin Now Worth $1B
codinginmysleep.com

Re: Bitcoin Now Worth $1B

#2

Post by xoail » Thu, Mar 28, 2013, 4:01 PM UTC

Bitcoin definitely has potential. I doubt if it's in a bubble. Its a right mix of need and want for the global economy. It is also getting a lot of traction. As more enterprises adopt, the more its potential for disruption. [Disclaimer: I have bitcoins in my wallet]

Re: Bitcoin Now Worth $1B

#3

Post by ionwake » Thu, Mar 28, 2013, 4:04 PM UTC

I can't believe it's taken the HN community 3 years to take Bitcoin seriously. Makes me wonder about you guys.

Re: Bitcoin Now Worth $1B

#4

Post by cantankerous » Thu, Mar 28, 2013, 4:05 PM UTC

xoail wrote: post #2

Bitcoin definitely has potential. I doubt if it's in a bubble. Its a right mix of need and want for the global economy. It is also getting a lot of traction. As more enterprises adopt, the more its potential for disruption. [Disclaimer: I have bitcoins in my wallet]

The exchange rate in USD has quintupled since mid January. I can't see how this is not a bubble.

Re: Bitcoin Now Worth $1B

#5

Post by porter » Thu, Mar 28, 2013, 4:05 PM UTC

This will be a fun ride until governments ban it.

Re: Bitcoin Now Worth $1B

#6

Post by nlh » Thu, Mar 28, 2013, 4:06 PM UTC

Holy cow. It was worth $60 last time I checked (last time a story was discussed on HN). I'm not one usually to play Chicken Little, but doesn't a 50% rise in a matter of a week or two seem a bit unsettling? Unless adoption has risen similarly, which I doubt -- it's not like Amazon just announced they'll be accepting BTC.

Enjoy the run, speculators. But don't get greedy -- remember the tulips...

Re: Bitcoin Now Worth $1B

#7

Post by illegalsmile » Thu, Mar 28, 2013, 4:08 PM UTC

After a few weeks ago reading that BTC was at $45/btc and thinking this has to drop drastically soon enough only to see it now at $90... Not saying this growth isn't possible but it's not sustainable this early on, unless I'm wrong?

Re: Bitcoin Now Worth $1B

#8

Post by Joeboy » Thu, Mar 28, 2013, 4:10 PM UTC

xoail wrote: post #2

Bitcoin definitely has potential. I doubt if it's in a bubble. Its a right mix of need and want for the global economy. It is also getting a lot of traction. As more enterprises adopt, the more its potential for disruption. [Disclaimer: I have bitcoins in my wallet]

For what it's worth, I think bitcoin has potential and I also own a couple, but I think it's bubbly as hell right now.

Re: Bitcoin Now Worth $1B

#9

Post by whackedspinach » Thu, Mar 28, 2013, 4:12 PM UTC

porter wrote: post #5

This will be a fun ride until governments ban it.

That worked out so well when they banned copyright infringement.

Re: Bitcoin Now Worth $1B

#10

Post by enmaku » Thu, Mar 28, 2013, 4:12 PM UTC

The price chart looks a lot like the transaction volume chart, which is usually how I make my guesses as to whether we're in a bubble or not - increase in price without similar increase in usage = bubble. That said, it's anyone's call.