Topic: Why is the price going up? (Read 2067 times)
The price is going up because the speculators who created the last massive boom in the first half of 2011 are coming back on board after the price stabilized. Bring on spec boom 2.0
Because people buys,
there are CONFIDENCE in Bitoin Community,
Bitoin is beautiful.
there are CONFIDENCE in Bitoin Community,
Bitoin is beautiful.
$3.00 seems to be a magic number.
I could probably grab a random novel and find the number 3 recurring throughout. You don't have to read the market to know that 3 is a magic number.
$3.00 seems to be a magic number.
A lot of for-profit miners died recently.. Bitcoin supply goes to the exchanges more slowly.. It kind of stability but very fragile..
Anyone who claims to be able to answer this title question with any certainty should not be trusted.
I gave up trying to predict this market. It is fun though.
I think people are too concerned with the price. Of course you can use it as an investment but if you use it as a medium of exchange then the price is far less relevant.
.Obviously I benefit more from the price going up but even more so from the volatility. Not trying to hide that fact.
That's not the point I'm trying to make though.
If BTC is $10,000 today and I want to buy a car priced at $2000 USD I need to pay .2 BTC
If BTC is $1 I need to pay 2000 BTC
If I am buying BTC for this transaction the price doesn't matter much and the car costs me the same either way (in USD).
The price isn't really relevant if it's a medium of exchange. The same would go for gold, a year ago I would have sold the car for 20 oz now I want 10 oz. If you're taking your currency and then using BTC to buy something you don't expose your self to any serious currency risk assuming BTC isn't flying up and down in minutes.
Now obviously volatility is bad because we would like to be able to hold our BTC without worrying about losing value. Expecting this to happen anytime relatively soon isn't very logical though.
Jered
Anyone who claims to be able to answer this title question with any certainty should not be trusted.
I gave up trying to predict this market. It is fun though.
I think people are too concerned with the price. Of course you can use it as an investment but if you use it as a medium of exchange then the price is far less relevant.
. Anyone who claims to be able to answer this title question with any certainty should not be trusted.
I gave up trying to predict this market. It is fun though.
I think people are too concerned with the price. Of course you can use it as an investment but if you use it as a medium of exchange then the price is far less relevant.
Anyone who claims to be able to answer this title question with any certainty should not be trusted.
Maybe because the rest of the worlds currencies is turning to shit?
+1 
Maybe because the rest of the worlds currencies is turning to shit?
Because I bought bitcoins with new money.
demand
Simple, fundamentals are there for the price to go up.
Bitcoin (because of its nature) will have dramatic price drops/increases for many years to come.
Bitcoin (because of its nature) will have dramatic price drops/increases for many years to come.
Come on... I just sold 30 @ $2.50 a couple of days ago, now it's almost touching $3.00? Ergghhh... that little extra would have definitely helped with the electric bill!
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