Topic: Is anyone worried how fast BTC is climbing in price? - page 2. (Read 8435 times)

LOLOLOLOLLOLOLOLOLOL!

Silk road was a huge part of it but if you really want to know why bitcoin is doing fine, its because mt gox bitstamp btc-e dont want it to fail. They can do whatever they want with the price. there are no rules or regulations that they have to abide by. They are smart business owners. Why would you let the golden goose die? As long as there are more suckers out there that jump on board it will keep going.

that's a pipe dream, fiat has a long way to go, btc will rise for other reasons

this is the main reason why i personally am buying bitcoins

The entire monetary system depends on constant exponential growth, because the money to pay interest on debts doesn't exist until new debts are created. This sort of thing was a useful system during past eras when humans were expanding and colonising new continents. Now that we are faced with exponential requirements for our economy and simultaneously hitting finite limits of resources and commodities we are stuck with a system which no longer works to our benefit and  is beginning to fail.

Bitcoin is a much better model for the worlds finances going forwards.

Not too nervous yet, but can feel a bit of greed kicking in, fear will be the crash after the next euphoric bubble, which might be just getting going now ?

The rising price and stronger infrastructure attract more people and capital in a self-feeding cycle of exponential growth. There are plenty more factors that have yet to open Bitcoin to the masses, such as wallet security (Trezor, etc.). Second Market opened exposure to the wealthy less than a month ago. A year ago Second Market wouldn't have done the BIT, because the price and infrastructure weren't there. Each achievement unlocks several doors and reveals many more. Almost everything in the Bitcoin world, most notably the price, is mutually reinforcing.

Differentiation-wise, it seems Bitcoin is differentiated out the wazoo from fiat currencies, so no issue there.

As for differentiation from altcoins, first there is network effects, history, first-mover advantage, the strength of the development team, and inertia (including standardization). Inertia can be disturbed in some extreme cases, history can eventually become relatively more equal but the speed at which that happens is very limited compared to the speed at which the cryptocurrency revolution is happening or the speed of network effects. Bitcoin has such an overwhelming lead in all these areas, and there is so little innovation in the altcoins so far (and any new ones would start with no history) that it would take an amazing development for one to overtake Bitcoin - and Bitcoin users would be better off in that case anyway, since they would be among the first to recognize the investment opportunity, as well as having a better system in the end. That's supposing its features weren't just incorporated into Bitcoin or added on top of it like Mastercoin.

Good money drives out bad when there is a free market, so the best coin will always be dominant, and the great importance of track record in the cryptocurrency world will ensure that the leader cannot change easily.

EDIT: Here's a decent summary of why altcoins aren't anything to be worried about.

i like this reasoning. let´s get the smallest bitcoin wallet wealthy. 

This is a major one I think. There was a huge contingent of people who thought Bitcoin was powered by SR. Probably everyone suspected it to some degree. There was another big contingent in more official/business circles that worried about the SR association. The shutdown of SR greatly soothed the latter group's concerns and the price action following the shutdown pretty much obliterated the former group's concerns.

More big reasons.

I don't believe there is such a thing as a 'fair valuation' based upon 'fundamentals'.  There is an absolute minimum price that would be required so that the bitcoins in circulation (assuming all bitcoins mined to date minus those in lost wallets) were enough to facilitate today's day-to-day transactions.  My guess is that that is a tiny fraction of its current market value.  Everything above that is based on demand versus supply (new + old becoming available on the market) with every bitcoin saved/long-term-speculated reducing those available.  People's preparedness to pay a higher and higher price is based on their confidence (or lack thereof) of Bitcoin reaching anywhere near its potential.

Feel free to pick a 'fair valuation' of your choice and to act accordingly.  Nobody can say you're wrong, but neither can you really say somebody valuing it at a cent or a million dollars are wrong.

Nope. Been here a few times before. Learned this is not like anything else in the world.

This is my take:

Silk road gets taken down.

People wait a week to see if Bitcoin can exist without it.

Bitcoin does fine.

Oh shit, legit currency guys! BUY BUY BUY!

Waiting for that 26,000 btc dump to come along...

No.

No.

This, there is a reason why adoption curves are S-shaped.

Bitcoin millionares are worried about the price, for people have small amount of bitcoins, they hope the skyrocketing last long and long.

It is when you're still tiny and have network effects via myriad channels.

Potential sure, but I'm talking about its current market value, what a fair valuation should be.

Yeah, lots of disgusting filthy weak hands dirty weakling whiny harlots in this thread. Slap yourself HARD and man up ffs. BTC should be at $20k not $200.

+1

I see so many members here in this forum with no clue about Bitcoin! It's an experiment. And we will find out if it's gonna work. It seems to be at a point, to grow big enough to succeed. It's a little plant wich just startetd to see the sun. But if you follow all the News around it, you'll see, that it could be a real, real big thing. People are fed up of Gouvernements who cheating and saving corrupt banks, for sure they will fight the BTC. but Bitcoin is Not their enemy! I'm sure bitcoin is a gamechanger, also it could changed the thinking of many humans in the world..... We Must stop war and just kill People in the Name of profit!
cheech300

Think about it in terms of exponential growth, as in exponential amount of an "people involved" each bringing along individual "money volume necessary to cause a price level increase", and you will see $100 to $180 is actually pretty similar to $1 to $1.8