How long does it take for bitcoin value to double?? - page 2.

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: DannyHamilton on April 09, 2013, 04:01:11 PM

Would making a purchase using bitcoin be considered a "position"?

If someone makes a purchase valued at $1000 at the time, and uses bitcoin to pay for that purchase, should that be considered the same as taking a position of "selling" at whatever the rate was at the time of purchase?

For the individual using that bitcoin I suppose the end result would be pretty much the same either way. But purchasing real products with bitcoin rewards and helps bitcoin businesses, and thereby the currency and economy as a whole.

Personally, I generally "don't do" buying fiat with my BTC but I do buy stuff with BTC from time to time.

DannyHamilton

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Quote from: BTCLuke on April 09, 2013, 03:32:17 PM

I wish we could make everyone here post the last position they took on bitcoin underneath their name....

BTCLuke
Bought at $3
Still holding

sgravina
Sold at $236
Scared shitless

Wouldn't that be useful? Let's start a petition.

Would making a purchase using bitcoin be considered a "position"?

If someone makes a purchase valued at $1000 at the time, and uses bitcoin to pay for that purchase, should that be considered the same as taking a position of "selling" at whatever the rate was at the time of purchase?

Malawi

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One bitcoin to rule them all!

Quote from: sgravina on April 09, 2013, 03:03:07 PM

Quote from: DannyHamilton on April 09, 2013, 08:33:20 AM

Question: How long does it typically take for the USD exchange rate of bitcoin to double?

Answer:

Start_rate	End_rate	#_of_days	Dates
$3.125	$6.25	194	2011-12-01 to 2012-06-15
$6.25	$12.5	163	2012-06-15 to 2012-11-25
$12.5	$25	79	2012-11-25 to 2013-02-12
$25	$50	30	2013-02-12 to 2013-03-18
$50	$100	14	2013-03-18 to 2013-04-01
$100	$200	8	2013-04-01 to 2013-04-09

Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400?

This post just made me cash out. I just sold almost all my bitcoins on MtGox for $236 each. I'm going to use the dollars to pay off debt.

I don't understand the price appreciation. If I had money right now to invest I would not buy bitcoins. Thus I shouldn't keep my bitcoins because the dollars are more valuable to me. If the price does collapse I will be glad to have taken this move. If the price keeps doubling every day or so then I will just wonder why? I don't think I will ever understand it. It challenges my very conception of what value is.

Even though I see your point, and I think this is a bubble, I would not have sold more or less everything. But then again, I would already have sold several smaller posts as I think this rate is unsubstainable in the short run.

Crypt_Current

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Shame on everything; regret nothing.

Quote from: samurai1200 on April 09, 2013, 03:23:24 PM

Quote from: sgravina on April 09, 2013, 03:03:07 PM

I just sold almost all my bitcoins...

Quote from: sgravina on April 09, 2013, 03:03:07 PM

I don't understand the price appreciation.

Oops.

yerp. those with eyes to see will see clearly. those with ears to hear will listen correctly and receive the correct message, and hopefully act accordingly.

600watt

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Quote from: sgravina on April 09, 2013, 03:03:07 PM

Quote from: DannyHamilton on April 09, 2013, 08:33:20 AM

Question: How long does it typically take for the USD exchange rate of bitcoin to double?

Answer:

Start_rate	End_rate	#_of_days	Dates
$3.125	$6.25	194	2011-12-01 to 2012-06-15
$6.25	$12.5	163	2012-06-15 to 2012-11-25
$12.5	$25	79	2012-11-25 to 2013-02-12
$25	$50	30	2013-02-12 to 2013-03-18
$50	$100	14	2013-03-18 to 2013-04-01
$100	$200	8	2013-04-01 to 2013-04-09

Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400?

This post just made me cash out. I just sold almost all my bitcoins on MtGox for $236 each. I'm going to use the dollars to pay off debt.

I don't understand the price appreciation. If I had money right now to invest I would not buy bitcoins. Thus I shouldn't keep my bitcoins because the dollars are more valuable to me. If the price does collapse I will be glad to have taken this move. If the price keeps doubling every day or so then I will just wonder why? I don't think I will ever understand it. It challenges my very conception of what value is.

but it will keep going for an entire week. you miss 3x double...

BTCLuke

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My other Avatar is also Scrooge McDuck

I wish we could make everyone here post the last position they took on bitcoin underneath their name....

BTCLuke
Bought at $3
Still holding

sgravina
Sold at $236
Scared shitless

Wouldn't that be useful? Let's start a petition.

samurai1200

sr. member

Activity: 303

Merit: 250

Quote from: sgravina on April 09, 2013, 03:03:07 PM

I just sold almost all my bitcoins...

Quote from: sgravina on April 09, 2013, 03:03:07 PM

I don't understand the price appreciation.

Oops.

sgravina

sr. member

Activity: 451

Merit: 250

Quote from: DannyHamilton on April 09, 2013, 08:33:20 AM

Question: How long does it typically take for the USD exchange rate of bitcoin to double?

Answer:

Start_rate	End_rate	#_of_days	Dates
$3.125	$6.25	194	2011-12-01 to 2012-06-15
$6.25	$12.5	163	2012-06-15 to 2012-11-25
$12.5	$25	79	2012-11-25 to 2013-02-12
$25	$50	30	2013-02-12 to 2013-03-18
$50	$100	14	2013-03-18 to 2013-04-01
$100	$200	8	2013-04-01 to 2013-04-09

Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400?

This post just made me cash out. I just sold almost all my bitcoins on MtGox for $236 each. I'm going to use the dollars to pay off debt.

I don't understand the price appreciation. If I had money right now to invest I would not buy bitcoins. Thus I shouldn't keep my bitcoins because the dollars are more valuable to me. If the price does collapse I will be glad to have taken this move. If the price keeps doubling every day or so then I will just wonder why? I don't think I will ever understand it. It challenges my very conception of what value is.

Jaw3bmasters

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Another block in the wall

Quote from: zoolander on April 09, 2013, 12:04:01 PM

Warren Buffet wouldn't touch Bitcoin with a barge pole.

His son probably does.

zoolander

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Quote from: nobbynobbynoob on April 09, 2013, 11:43:06 AM

Quote from: Pruden on April 09, 2013, 11:32:18 AM

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares?

Please tell me you not trying to justify Bitcoin's growth by comparing it to company that specializes in long term investments in companies notably eschewing even the most successful technology stocks, never-mind currency experiments like Bitcoin.

Warren Buffet wouldn't touch Bitcoin with a barge pole.

Pruden

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Spanish Bitcoin trader

Quote from: nobbynobbynoob on April 09, 2013, 11:43:06 AM

Quote from: Pruden on April 09, 2013, 11:32:18 AM

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares?

I know that corporation, but in your graph I fail to see any tenfold increase in a matter of weeks neither a hyperbolical growth slashing doubling times by half into a matter of days.

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: sgbett on April 09, 2013, 11:48:04 AM

RE Berkshire Hathaway shares
i dont get it. please enlighten me?

Looks like a fair example of a market that's almost permabullish to me.

600watt

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Quote from: Surpbitcoin on April 09, 2013, 09:17:36 AM

Quote from: BitcoinAshley on April 09, 2013, 09:14:46 AM

Fasten your seatbelts, we are experiencing not a bubble but an unprecedented hyper-monetization event.

I'm about to jizz in my pants!

+1

i am a student of modern history.
but i don´t need to ask my professor to know. we are making history. either way. tulips?

it´s not a bubble. its cryptotulipical

sgbett

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Quote from: nobbynobbynoob on April 09, 2013, 11:43:06 AM

Quote from: Pruden on April 09, 2013, 11:32:18 AM

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares?

i dont get it. please enlighten me?

nobbynobbynoob

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Activity: 784

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Annuit cœptis humanae libertas

Quote from: Pruden on April 09, 2013, 11:32:18 AM

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

Does anyone care to (re)post the historic trend graph for Berkshire Hathaway shares?

Stampbit

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DoomDumas

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Bitcoin

Too much BID, no enought ASK,.. this thing is doomed to go up alot (an order of magnitude) before the drop, if any !

Due to EXPLODE !!!

watch this :

Pruden

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Spanish Bitcoin trader

Because it's absurd. And with this run-up you would be silly to expect anything but a sharp, substantial and enduring drop.

DoomDumas

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Bitcoin

400 U$ @ April 15th
Why not ?

Thanks OP for this info, well researched

now 246 on CaVirtex.com Leading the way over Gox as for the last month or so !

I sell 1% of my coins @ 400$ and another 1% @ 800$ to have some fiat in case of a correction Tongue

giarc

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Little chart I knocked together.

So good news! We can all look forward to retiring with infinite money very soon

Topic: How long does it take for bitcoin value to double?? - page 2. (Read 7699 times)