Topic: Bitcoin soaring, highest I&#039;ve seen it since last year while it was decreasing (Read 3570 times)

Quote from: thezerg on July 20, 2012, 11:32:07 AM

I think that by next month, it is very possible that we may never see Bitcoin worth single digits again...

Nah, it'll be worth single digits into next year.

You've claimed you have a paper wallet stash... so sell a buy option at 9.99 expiring 2013/04/15

He's not serious.

I have to confess, with a smidgen of embarrassment, that even I'm having a hard time taking myself seriously lately. In fact, Lately I've been feeling some cognitive dissonance about my bearishness. The fact that I've got a stash of offline bitcoins is good evidence of this. Get it together Proudhon!

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

I think that by next month, it is very possible that we may never see Bitcoin worth single digits again...

Nah, it'll be worth single digits into next year.

You've claimed you have a paper wallet stash... so sell a buy option at 9.99 expiring 2013/04/15

He's not serious.

sadpandatech

hero member

Activity: 504

Merit: 500

I think that by next month, it is very possible that we may never see Bitcoin worth single digits again...

Nah, it'll be worth single digits into next year.

hehe, this is the last bear who kept waiting for the decline.. Don't miss your lunch, bear. ;p

thezerg

legendary

Activity: 1246

Merit: 1010

I think that by next month, it is very possible that we may never see Bitcoin worth single digits again...

Nah, it'll be worth single digits into next year.

You've claimed you have a paper wallet stash... so sell a buy option at 9.99 expiring 2013/04/15

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: Bitcoin Oz on July 16, 2012, 08:48:13 PM

I think that by next month, it is very possible that we may never see Bitcoin worth single digits again...

Nah, it'll be worth single digits into next year.

zhalox

full member

Activity: 176

Merit: 106

XMR = BTC in 2010. Rise chikun.

I think that by next month, it is very possible that we may never see Bitcoin worth single digits again...

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

dont forget bitcoin has created a new market within its self (call it speculation market), as the bitcoin grows due to new demand for example more users on SR. the speculation market grows as well.

The next few weeks will be epic!

OH JOY Cheesy

dacoinminster

legendary

Activity: 1260

Merit: 1031

Rational Exuberance

Here's why bitcoin price increases are just getting started:

The infographic is part of a larger presentation on the potential of bitcoin which I made.

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: Littleshop on July 16, 2012, 08:44:51 PM

Quote from: Bitcoin Oz on July 16, 2012, 08:48:13 PM

I actually think the price is skyrocketing because people are buying BFL stuff with cash-thus converting into btc via bitpay and providing an artificially high demand for BTC at the moment.

I think BFL stuff may be part of it, but just as much Paypal cutting off cyberlockers and Mr Dotcom's publicity, as well as general greater use of bitcoin.

This. If he implements bitcoin for megabox the last high will seem miniscule in comparison.

+1

You have all of these factors working together to push BTC demand:
Megabox
Pirate BST
Bit-Pay
Bit-Instant
BFL
Satoshi Dice

Cranky4u

hero member

Activity: 810

Merit: 1000

USD$9.30 / BTC...crazy and dangerous swing

meanig

hero member

Activity: 531

Merit: 501

Quote from: Littleshop on July 16, 2012, 08:44:51 PM

Quote from: Littleshop on July 16, 2012, 08:44:51 PM

I actually think the price is skyrocketing because people are buying BFL stuff with cash-thus converting into btc via bitpay and providing an artificially high demand for BTC at the moment.

I think BFL stuff may be part of it, but just as much Paypal cutting off cyberlockers and Mr Dotcom's publicity, as well as general greater use of bitcoin.

This. If he implements bitcoin for megabox the last high will seem miniscule in comparison.

I think Kim decided to dump a few hundred thousand he had hidden away somewhere into Bitcoin. He'll wait a few days before making a big announcement about how awesome Bitcoin is before quadrupling his money Cool

Littleshop

legendary

Activity: 1386

Merit: 1004

And why did I forget...

Third reason for BTC to go up (the scary one)....

Pirate has continued to pay out dividends and people are bringing more money into bitcoin to deposit with him. This could be causing massive upward pressure as well.

Bitcoin Oz

hero member

Activity: 686

Merit: 500

Wat

Quote from: hazek on July 16, 2012, 08:44:06 PM

I actually think the price is skyrocketing because people are buying BFL stuff with cash-thus converting into btc via bitpay and providing an artificially high demand for BTC at the moment.

I think BFL stuff may be part of it, but just as much Paypal cutting off cyberlockers and Mr Dotcom's publicity, as well as general greater use of bitcoin.

This. If he implements bitcoin for megabox the last high will seem miniscule in comparison.

Littleshop

legendary

Activity: 1386

Merit: 1004

I actually think the price is skyrocketing because people are buying BFL stuff with cash-thus converting into btc via bitpay and providing an artificially high demand for BTC at the moment.

You are mistaken:

In order for BitPay to pay BFL with dollars they need to sell all those bitcoins and you're right where you were at the beginning and maybe even lower since not all who used BTC needed to buy them first.

That is one way it could happen but that is not what we think is really happening......

Since Bit-Pay is announcing that they have a large amount of coins to sell (optionally outside of the exchanges) and that they came from BFL, Bit-Pay probably has paid BFL as normal in USD and is now long that much more bitcoin.

If this is true... Bit-pay has been on the right side of a WINNING BET! They (on paper) may have made over $20,000 if they had over 10,000 BTC long due to BFL.

Littleshop

legendary

Activity: 1386

Merit: 1004

I actually think the price is skyrocketing because people are buying BFL stuff with cash-thus converting into btc via bitpay and providing an artificially high demand for BTC at the moment.

I think BFL stuff may be part of it, but just as much Paypal cutting off cyberlockers and Mr Dotcom's publicity, as well as general greater use of bitcoin.

hazek

legendary

Activity: 1078

Merit: 1003