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I love the visualization, but wow almost $200. Greater fool theory is at work here: http://en.wikipedia.org/wiki/Greater_fool_theory http://en.wikipedia.org/wik

I love the visualization, but wow almost $200. Greater fool theory is at work here: http://en.wikipedia.org/wiki/Greater_fool_theory http://en.wikipedia.org/wiki/Greater_fool_theory

drcode 14y ago
...or the takeoff ramp for a new technology. I'm not sure, either.
- dragontamer 14y ago
  http://blockchain.info/charts/n-transactions http://blockchain.info/charts/n-transactions There are more bitcoin transactions... but not enough to qualify the 20x increase in value the last three months.
  - astrodust 14y ago
    That could be explained by rampant speculation.
    - sneak 14y ago
      It could also be explained by increased organic non-speculatory demand as Bitcoin shows up in the media more frequently, and more people begin to use it - against a relatively fixed supply.
      - dragontamer 14y ago
        If more people are using Bitcoin, then there would be more transactions. Bitcoin transactions / day have grown from ~35,000 in August 2012 to ~55,000 in February 2012. Between February 2012 and today, the number of Bitcoin transactions/day has not grown at all, while Bitcoin prices have skyrocketed by 1000%.
camdykeman 14y ago
Definitely a bubble forming - bitcoins marketcap was 1B only a week ago (http://blockchain.info/charts/market-cap http://blockchain.info/charts/market-cap). Note they also use the Ƀ (B with stroke) to represent Bitcoin. Kudos to ECOGEX for their discussion a few weeks ago that set this in motion (https://news.ycombinator.com/item?id=5451084 https://news.ycombinator.com/item?id=5451084).
- drcode 14y ago
  I should point out I'm wearing a bitcoin t shirt printed months ago that has the Ƀ so this has clearly already had wide adoption before then... don't give anyone undue credit.
- kiba 14y ago
  No, that's complete nonsense. Only some individuals represent bitcoin with a stroke. Bitcoin surprisingly doesn't have a standard in its logo and symbol usage. Everybody said BTC for bitcoin though.
  - camdykeman 14y ago
    Complete nonsense... Did I say Ƀ was the standard? Did I say ฿ was the standard? No, I noted they used Ƀ and gave the previous article props for bringing that symbol more recognition. Did I say they invented it? No. All of you need to stop trolling, comments like the ones in response to my OP are what ruins HackerNews.
- sneak 14y ago
  Many more people use ฿ than Ƀ. Source: I've been studying and speaking on Bitcoin since 2010. (http://vimeo.com/27653912 http://vimeo.com/27653912)
  - camdykeman 14y ago
    This is a moot point. I recognize that more people use ฿ than Ƀ. I was simply stating what was used on the site and congratulating the use of (what I consider) to be a more visually appealing symbol. Congrats on using yourself as your own source. Don't beg the question and stop trolling.

I love the visualization, but wow almost $200. Greater fool theory is at work here: http://en.wikipedia.org/wiki/Greater_fool_theory http://en.wikipedia.org/wiki/Greater_fool_theory

drcode 14y ago

...or the takeoff ramp for a new technology. I'm not sure, either.

dragontamer 14y ago
http://blockchain.info/charts/n-transactions http://blockchain.info/charts/n-transactions There are more bitcoin transactions... but not enough to qualify the 20x increase in value the last three months.
- astrodust 14y ago
  That could be explained by rampant speculation.
  - sneak 14y ago
    It could also be explained by increased organic non-speculatory demand as Bitcoin shows up in the media more frequently, and more people begin to use it - against a relatively fixed supply.
    - dragontamer 14y ago
      If more people are using Bitcoin, then there would be more transactions. Bitcoin transactions / day have grown from ~35,000 in August 2012 to ~55,000 in February 2012. Between February 2012 and today, the number of Bitcoin transactions/day has not grown at all, while Bitcoin prices have skyrocketed by 1000%.

camdykeman 14y ago

Definitely a bubble forming - bitcoins marketcap was 1B only a week ago (http://blockchain.info/charts/market-cap http://blockchain.info/charts/market-cap). Note they also use the Ƀ (B with stroke) to represent Bitcoin. Kudos to ECOGEX for their discussion a few weeks ago that set this in motion (https://news.ycombinator.com/item?id=5451084 https://news.ycombinator.com/item?id=5451084).

drcode 14y ago
I should point out I'm wearing a bitcoin t shirt printed months ago that has the Ƀ so this has clearly already had wide adoption before then... don't give anyone undue credit.
kiba 14y ago
No, that's complete nonsense. Only some individuals represent bitcoin with a stroke. Bitcoin surprisingly doesn't have a standard in its logo and symbol usage. Everybody said BTC for bitcoin though.
- camdykeman 14y ago
  Complete nonsense... Did I say Ƀ was the standard? Did I say ฿ was the standard? No, I noted they used Ƀ and gave the previous article props for bringing that symbol more recognition. Did I say they invented it? No. All of you need to stop trolling, comments like the ones in response to my OP are what ruins HackerNews.
sneak 14y ago
Many more people use ฿ than Ƀ. Source: I've been studying and speaking on Bitcoin since 2010. (http://vimeo.com/27653912 http://vimeo.com/27653912)
- camdykeman 14y ago
  This is a moot point. I recognize that more people use ฿ than Ƀ. I was simply stating what was used on the site and congratulating the use of (what I consider) to be a more visually appealing symbol. Congrats on using yourself as your own source. Don't beg the question and stop trolling.