The Bitcoin Tracking Thread

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Originally Posted by sirgonzo420

Exactly.

I am not buying bitcoins at this price, but I can surely trade bitcoins obtained at a much lower price for very real, tangible silver and gold. Here is one such place to do such a thing: http://bitcoincommodities.com/

Bitcoin, since it's inception just a few years ago, has seen more than a 6,799,900% rise in FRN-value. That rise in value can be applied to all manner of physical things, including gold and silver.


EDIT: Current BTC price: $71

EDIT one hour later: Current BTC price: $74

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This rally is going towards its logical conclusion, the price has doubled in about 2 weeks from $37, prior doubling took 6-7 weeks, from $19, next one to $148, would happen in 3-5 days, unless the spell is broken...

Remember, it is different this time, and normal rules of monetary system values don't apply to bitcoins, the fact is that all the other currencies are currently in hyperinflation vs bitcoins... ;)

again why in hell would i buy Bitcoin when i can buy gold an silver ? can anyone tell me why ?

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Originally Posted by mick silver

again why in hell would i buy Bitcoin when i can buy gold an silver ? can anyone tell me why ?

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No, you are a remnant of the dinosaurs!

Syncing wallet all day, gives me time to learn more about it. 29K to go. Would have downloaded the .dat but not sure how to import them so I'll wait.

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Originally Posted by mick silver

again why in hell would i buy Bitcoin when i can buy gold an silver ? can anyone tell me why ?

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bitcoins = currency
gold/silver = money

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Originally Posted by mick silver

again why in hell would i buy Bitcoin when i can buy gold an silver ? can anyone tell me why ?

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Gold and silver provide anonymous store of wealth physically; bitcoins provide anonymous store of wealth digitally.

Never really heard or knew much about bitcoins before the last week or two. I had heard it mentioned a few times but that is it. The problem is that with the price rising exponentially like it has, it is risky to get in now. Sort of like buying silver at $45 hoping that it would break through 50 and head to $100.

It could keep running but the time to buy would have been back at $2.

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Originally Posted by Son-of-Liberty

Never really heard or knew much about bitcoins before the last week or two. I had heard it mentioned a few times but that is it. The problem is that with the price rising exponentially like it has, it is risky to get in now. Sort of like buying silver at $45 hoping that it would break through 50 and head to $100.

It could keep running but the time to buy would have been back at $2.

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That is almost exactly what they told me when I wanted to drop a grand into GOOG as a lotto play.

This really is something else. All economic indicators point to this being classic bubble activity, but nothing like bitcoins has ever been on the market before. There is no historical trend to base prices off of, and no real floor has ever been established for them. Bitcoins have been breaking new grounds through unknown territory ever since their inception.

That being said, human nature doesn't change, but the internet allows price discovery and market changes to occur much faster than before. This mania could push bitcoins phenominally high and the crash could be devastating, all in a matter of a few weeks.

max keiser was on aj the other doing a big rant about bit coin and how it was going to save the world. i have to wonder if the aj army is getting in. he did like a 20 minute keiser "bitcoin! bitcoin! bitcoin!" rant.