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It looks as if the two main markets, bitcoinmarket and mtgox, are stabilizing around 5.5-6.5 USC/BTC. The outliers and quartiles have been tightening for days now, and now the values are centering in that range. Thoughts? Could it be that we've established a market value? That would be a major step toward currency confidence and widespread public use.
InterArmaEnimSil August 07, 2010, 05:38:33 PMQuote
The stability is, at least temporarily at an end.
Starting in the early hours (US time) mtgox.com began to surge, so far reaching 0.0735 USD/BTC. Temporary surge? Probably, but how long will it last and how high will it go?
kencausey August 09, 2010, 05:52:53 PMStarting in the early hours (US time) mtgox.com began to surge, so far reaching 0.0735 USD/BTC. Temporary surge? Probably, but how long will it last and how high will it go?
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This is a very naive approach concerning a theoretical price of gold in bitcoins.
Let's say there are about 170,000 tons of gold on Earth's surface (both above and below ground).
If we just divide this quantity by 21 millions of bitcoins, we get a price of about 8 BTC for one kilogram of gold.
Now I know, this amount looks ridiculously small, but somehow this encourages me to sell my gold for bitcoins :-)
grondilu October 22, 2010, 01:07:43 PMLet's say there are about 170,000 tons of gold on Earth's surface (both above and below ground).
If we just divide this quantity by 21 millions of bitcoins, we get a price of about 8 BTC for one kilogram of gold.
Now I know, this amount looks ridiculously small, but somehow this encourages me to sell my gold for bitcoins :-)
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What if we all say: from today, one bitcoin is 1.3 PPUSD? Will it's value be that? I guess so, since it's worth what we all want it to. What stops us to do so? Can we call this "speculation"?
I'm very curious about that.
wobber January 07, 2011, 05:30:23 AMI'm very curious about that.
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Hey! I'll sell you my BTC @ 1.3USD!!! Shocked
Vinnie January 07, 2011, 06:01:03 AMQuote
ok, i didn't want to do it... but it looks like you guys force my hand. selling 5000btc at 1.288 usd each! it's my final offer! Smiley
nanotube January 07, 2011, 06:35:28 PMQuote
Did anyone think at this? How would a bank work? How could you loan bitcoins and get interest for them in an economy with just 21 milion BTC limit?
wobber December 28, 2010, 02:10:58 PMQuote
I think 2 dollars is touchable.(Author - mean for 1 BTC)
2 dollars is a sure thing, 95% probability.
5 dollars is 50% probably.
10 dollars is 10% probability.
25 dollars...you're kidding me? 1% probability.
50 dollars, .05% probability.
kiba April 22, 2011, 09:10:16 PM2 dollars is a sure thing, 95% probability.
5 dollars is 50% probably.
10 dollars is 10% probability.
25 dollars...you're kidding me? 1% probability.
50 dollars, .05% probability.
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$1k to $2k would not surprise me over the next 5 to 10 years. In fact if bitcoin is around in 3 years time, I'd say a Two Thousand Dollar Bitcoin is inevitable within the next decade, barring canned food for for an AK.
no to the gold cult April 23, 2011, 07:42:14 PMQuote
All of today I have been very sad because just last week I sold my 38 Bitcoins for $7.8 each and now it's $18 each. I am now wondering if I should buy coins now with the $330 I have in my Mt. Gox account or should I wait for the bubble to pop?
Rysterf June 05, 2011, 08:23:05 AMQuote
Seriously, what the hell is going on? I feel VERY lucky. On one hand I was able to sell my main coin supply on the 9th I think it was for like $247 / each. I refresh clean once in a while and that was the time. I told myself, once I see it go over $250, sell it all. I sold them all that day and a couple days later money was deposited into my bank account. The next day coin started to drop big time. Most places ceased operations, stopped business or just suspended trading until further notice. Then I had another whole wallet which I kind of forget about and tried really hard to sell those but no such luck. I pretty much have to hang on to them for a while and see what happens. My stupid fault for not remembering. That's a bad thing to do in this business.
Sorry, just wanted to post something positive in my world for once. I rarely EVER get to do that.
So what the hell is making coin go from $250 to $55 in 2 days or less? Yes, you can respond with sarcastic, anal retentive childish remarks if it makes you feel better.
opentoe April 11, 2013, 07:32:24 PM Sorry, just wanted to post something positive in my world for once. I rarely EVER get to do that.
So what the hell is making coin go from $250 to $55 in 2 days or less? Yes, you can respond with sarcastic, anal retentive childish remarks if it makes you feel better.