$340 wot the hell is going on ? | Bitcointalksearch.org

uki

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Quote from: God Donut on November 02, 2015, 04:57:49 PM

Quote from: eatmyshorts1 on November 02, 2015, 04:48:28 PM

Quote from: God Donut on November 02, 2015, 04:45:13 PM

so is this just a bubble all over again or there's some solid reason bitcoin should grow in value?

It all depends on the amount of wealth that needs to be stored in btc. The more wealth in a scarce commodity, the higher each unit becomes valued. If it becomes the new 'gold' in terms of storing wealth, it will shoot up accordingly. If it does one better and becomes even a moderately frequently relied-upon currency as well as a store of wealth, then it should have a justifiably higher price than today.

I doubt bitcoin is going to become a new gold. Its too volatile. Bitcoin is great to transfer value all over the world and be anonymous about it. Was hoping this price climb we observing right now is the consequence of people finally realizing that bitcoin is awesome in terms of value transfer

I agree with the first part of your opinion that bitcoin won't become new gold. Simply for the fact of how complicated the usage of bitcoins still is for an average Joe. There is still a lot to be made in order to make the entire process of involving non-enthusiast into Bitcoin. As for the second part, I believe the growth of Bitcoin price recently is purely speculative. THere were no significant changes when it comes to adoption, no news that potentially be a turning point. That is way I am rather sceptical to think about this rise in any other category as pure speculation.

Dilla

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U wot m8?

ROT13

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prodigy8

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Coinbase reached after few minutes ago $368
Also other exchanges reached $367 so the price is really boosted.
Today the change is almost about $40 since yesterday.

OROBTC

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...

$360 a few minutes ago.

I read earlier today that something called (approximately) "MMM" is at least partly causing this spike. MMM is spread by Youtube and involves the Philippines.

I suppose we will know more before long.

God Donut

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Quote from: eatmyshorts1 on November 02, 2015, 04:48:28 PM

Quote from: God Donut on November 02, 2015, 04:45:13 PM

so is this just a bubble all over again or there's some solid reason bitcoin should grow in value?

It all depends on the amount of wealth that needs to be stored in btc. The more wealth in a scarce commodity, the higher each unit becomes valued. If it becomes the new 'gold' in terms of storing wealth, it will shoot up accordingly. If it does one better and becomes even a moderately frequently relied-upon currency as well as a store of wealth, then it should have a justifiably higher price than today.

I doubt bitcoin is going to become a new gold. Its too volatile. Bitcoin is great to transfer value all over the world and be anonymous about it. Was hoping this price climb we observing right now is the consequence of people finally realizing that bitcoin is awesome in terms of value transfer

eatmyshorts1

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Quote from: God Donut on November 02, 2015, 04:45:13 PM

so is this just a bubble all over again or there's some solid reason bitcoin should grow in value?

It all depends on the amount of wealth that needs to be stored in btc. The more wealth in a scarce commodity, the higher each unit becomes valued. If it becomes the new 'gold' in terms of storing wealth, it will shoot up accordingly. If it does one better and becomes even a moderately frequently relied-upon currency as well as a store of wealth, then it should have a justifiably higher price than today.

God Donut

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so is this just a bubble all over again or there's some solid reason bitcoin should grow in value?

rocks

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Quote from: richardsNY on November 02, 2015, 03:45:12 PM

The price reached $360 today while not many people (including myself) thought it had a high chance to happen. $350 maybe, but definitely not $360. I think for this year the ultimate high will be $400.

Already broke $370 briefly

xDan

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ヽ( ㅇㅅㅇ)ﾉ ~!!

Wake me up when it's $1000 again.

*yawn*

zimmah

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Quote from: MissionPhailed on November 02, 2015, 03:36:14 PM

Simply astounding ... ! I'm a newb in crypto, and the only reason I can think of why this impressive surge in BTC-price is taking place, is that it is gaining real 'momentum' now. With momentum I mean the combination of recent good news and the rising price increases confidence of a lot of people, thus only accelerating this development.

and most bears are broke now

there arent many people who want to sell who have bitcoin left to sell

BitChick

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Quote from: richardsNY on November 02, 2015, 03:45:12 PM

The price reached $360 today while not many people (including myself) thought it had a high chance to happen. $350 maybe, but definitely not $360. I think for this year the ultimate high will be $400.

Maybe for this one day the ultimate high will be $400. Trust me, once the ball starts rolling and we have momentum behind a rally nothing stops BTC! It wasn't nicknamed the "honey badger of money" for no reason.

uki

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Quote from: rocks on November 02, 2015, 03:21:02 PM

You only make money if you sell. So the question is will you and hubby sell some this time to lock in profits? If so at what level does the selling start? I myself only held through the prior runs to watch a large pile turn into a smaller pile. I believe it can go higher this time, but also want to balance that view with locking in some well needed gains.

very wise words. You must balance yourself between the greed (extra gain) and the will of locking the profits (selling too early). It is not an easy art at all.
I hope I can make it better this time, so you are not alone.
But I still feel, this enthusiasm is a bit too early. I understand that the horizontal trend in most of 2015 was very boring, but we are nowhere at the level one should get excited. Not yet. This recent rise seems to run out of fuel and I wouldn't be surprised if we come back to sub-300 prices before the end of the year.

richardsNY

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The price reached $360 today while not many people (including myself) thought it had a high chance to happen. $350 maybe, but definitely not $360. I think for this year the ultimate high will be $400.

BitChick

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Quote from: CoinCidental on November 02, 2015, 03:31:48 PM

Quote from: rocks on November 02, 2015, 03:21:02 PM

Quote from: BitChick on November 02, 2015, 03:09:34 PM

Quote from: Omikifuse on November 02, 2015, 03:04:05 PM

It is the end of the bear market, at least for now. If it is a surprise for you, I think you must be new to bitcoin

In the past bubbles $100 rises in one day(or que equivalent given the past value) were common

(and right now the price is touching 360 and increasing)

In 2013 I remember going to bed and the next morning calculating how much money my husband and I made while sleeping!

Those were the days. It looks like we are back to that kind of fun again! LOL

You only make money if you sell. So the question is will you and hubby sell some this time to lock in profits? If so at what level does the selling start? I myself only held through the prior runs to watch a large pile turn into a smaller pile. I believe it can go higher this time, but also want to balance that view with locking in some well needed gains.

you can bail out anytime ,even now

but i wouldnt
you might think your rich if we go to the moon in 2016 you should liquidate the lot maybe around $5000 each

but what if we go to the mars on the halving after that in 2020 ?

would you not keep a couple until 2025 to see if we go to the nebula ?

i will.............

I am convinced the best plan is the SSS plan. Have a plan and stick to it and then if and when BTC reaches 100,000 and up there won't be any tears shed. Wink

https://bitcointalksearch.org/topic/sss-a-sane-and-simple-bitcoin-savings-plan-345065

prodigy8

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Quote from: fulgdenea on November 02, 2015, 03:33:43 PM

We have to fasten our seat belt because we are going to hit $400 within this week, bitcoin is ready to rise more up as we hit the $350 in first day of the week. Grin

Yeah the week is long and if price is increasing $20 a day
Then it can reach very fast probably by this week $400.
In general if we look at the graph the price moved so fast.

MissionPhailed

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Simply astounding ... ! I'm a newb in crypto, and the only reason I can think of why this impressive surge in BTC-price is taking place, is that it is gaining real 'momentum' now. With momentum I mean the combination of recent good news and the rising price increases confidence of a lot of people, thus only accelerating this development.

katafrag

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Quote from: fulgdenea on November 02, 2015, 03:33:43 PM

We have to fasten our seat belt because we are going to hit $400 within this week, bitcoin is ready to rise more up as we hit the $350 in first day of the week. Grin

TRUE 400 is in line....

TIME IN PEKING 4:34 AM

the dragon is going to spit some fire in a few hours, 385 $ tomorrow

Paashaas

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Quote from: fulgdenea on November 02, 2015, 03:33:43 PM

We have to fasten our seat belt because we are going to hit $400 within this week, bitcoin is ready to rise more up as we hit the $350 in first day of the week. Grin

fulgdenea

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We have to fasten our seat belt because we are going to hit $400 within this week, bitcoin is ready to rise more up as we hit the $350 in first day of the week. Grin

Topic: $340 wot the hell is going on ? (Read 1895 times)