6 ms·
BitCoin almost doubles previous peak.
- a3voices 13y agoOnly two more doubles to go, and I'm a millionaire. Woohoo.
- josephagoss 13y ago520 Bitcoins?
- a3voices 13y ago501. So needs to go up a little more than 4x.
- josephagoss 13y agoNice work! Good luck I am sure you will be a millionaire before long. :)
- a3voices 13y agoI sure hope so!
- brainburn 13y agoToo bad it's in an inferior currency
- cantankerous 13y agoIf he somehow manages to pull a million out of it, I'm not sure it matters too much.
- simonebrunozzi 13y agoWondering if there's any tax implication on earning money from bitcoin speculation. Does anyone know?
- eli 13y agoIn the US most definitely yes. There are very very few ways to earn money that is not taxable.
- simondlr 13y agoIt seems this rally has stronger market support on the downswings (ie doesn't crash completely). I'd take that as a good thing?
- deleted 13y ago[deleted]
- rjtavares 13y agoThe good thing for a currency is to have a stable value. This is certainly not a good thing for people that want Bitcoins to be actually used instead of just stockpiled.
- networked 13y agoAs the exchange rate rises buying Bitcoin will become ever more tempting. For those who haven't bought any Bitcoin yet do you think it's a good idea to commit now, Odysseus-style, to not buy Bitcoin as an investment for N years? Edit: What I mean by "commitment" is that you absolutely won't invest in Bitcoin during that time no matter what happens to the exchange rate.
- qwerta 13y agoTime to buy bitcoins was 12+ months ago. Now it is way too volatile and cashing out could be problematic.
- a3voices 13y agoIf you bought Bitcoin a month ago, your investment would have doubled, so clearly your logic is off.
- ugexe 13y agoWho cares if it doubles if you can't sell it
- a3voices 13y agoYou can easily sell it. coinbase.com, bitstamp.com, btc-e.com...
- jeffasinger 13y agoDepending on where you are localbitcoins makes it very easy to sell too.
- ugexe 13y agoBy easily do you mean at the whim of the company? Coinbase is pretty famous for stealing peoples bitcoins and/or not paying out.
- heliodor 13y agoIs there a chart of bitcoin prices that goes further back in time than bitcoincharts.com? And preferably logarithmic scale.
- josephagoss 13y agoBitcoincharts has a log option... Its right there on the same page you just looked at. EDIT: Also check the date range, Bitcoincharts has almost all historical data.
- heliodor 13y agoI always use that log option. It's amazing that people look at the normal chart.
- josephagoss 13y agoJeez you made me do a doubletake! You know there is a log option! Damn I look stupid now, haha. So you were only asking for extended data? Does the all time option have enough for you? I don't think Gox traded back past the data bitcoincharts have on record.
- heliodor 13y agoNo worries. I'm curious to see data past what bitcoincharts.com offers. If you look at their three years of data on a log scale, there's a very clear trendline with gains of 6x to 10x per year.
- olalonde 13y agohttp://bitcoinwisdom.com/markets/mtgox/btcusd http://bitcoinwisdom.com/markets/mtgox/btcusd
- tcatm 13y agoWell, you could look at the charts of exchanges before mtgox, like bitcoinmarket.com with data from 2010: PayPal USD: http://bitcoincharts.com/charts/bcmPPUSD#czsg2010-01-01zeg2010-12-31ztgSzm1g10zm2g25zvzl http://bitcoincharts.com/charts/bcmPPUSD#czsg2010-01-01zeg20... LibertyReserve USD: http://bitcoincharts.com/charts/bcmLRUSD#czsg2010-01-01zeg2010-12-31ztgSzm1g10zm2g25zvzl http://bitcoincharts.com/charts/bcmLRUSD#czsg2010-01-01zeg20...
- Expez 13y agoIf bitcoins are going to be used for anything at all, the rise in value is likely to continue for a while longer. One can argue, and I might agree, that the velocity of money is greater in the bitcoin economy, but I still think the small size of the bitcoin economy (little over $5 000 000 000 atm) is limiting.
- cantankerous 13y agoI find myself wanting to get into the bitcoin speculation game, if only nominally with some small denomination (say 0.1 BTC or something). Can anybody else speak to or give advice on getting over the creepiness factor of finding and using an exchange? Are some more reputable than others? Places like MtGox don't inspire confidence and the physical location of many exchanges gives me concerns about them in the event of some kind of dispute. I feel like if I were to do business with an exchange, I'd need to start a whole new bank account just to do it to keep my real account info hidden away from exchanges and potential bad actors. Is this a completely irrational feeling to have?
- citricsquid 13y agoAll the legitimate exchanges require identity verification (passport etc.). If you want to trade without revealing your identity you'll have a difficult time, but you can try localbitcoins.com for trading in person.
- cantankerous 13y agoThat's not my issue. I'm fine using my real identity. I'm more interested in knowing if some exchanges are considered more trustworthy than others.
- heliodor 13y agoMtGox is having its troubles right now. I've used CampBX and Coinbase reliably without any problems about a year ago. I can't speak to the withdrawal process though, other than to say I wouldn't do it through MtGox anytime soon. There's enough liquidity in the top exchanges that discrepancies in sell-prices from one exchange to another are indicative of people's trust in being able to withdraw their money from that particular exchange.
- cantankerous 13y agoSounds good. I will check those out, thanks!
- aristidesfl 13y agoMt.Gox is the main reason of the current raise in bitcoin price. As Mt.Gox users have difficulty cashing out dollars, the only option they have is to convert those dollars to bitcoin (buy bitcoins on Mt Gox), or risk loosing all the money. At the same time spread they spread panic on forums, so a large quantity of people who have funds in MtGox in form of dollars, is currently trying to buy bitcoins on Mt. Gox, making the price raise. That is also the reason Mt. Gox bitcoin price is much higher than other markets.
- headgasket 13y agoThe FBI is holding 1.5% of all the volume right now, consigned. So just decreases the flow. My guess is the price will go up until Mr Ulrich has bee found guilty. At that point they'll cash out, and the spiral downward will start. My guess is 30$ the end of 2014, I might put some money on that if there was a reliable and reputable derivatives market.
- hughlomas 13y agoI am truly ignorant of anything relating to finance, can you explain why dumping only 1.5% of volume would be an issue?