The Bitcoin Tracking Thread

[sirgonzo420]

All-time high: $143.50

[madfranks]

I can't help but think with this astronomical surge up in value that there's going to be a phenomenal crash as well.

[Neuro]

I can't help but think with this astronomical surge up in value that there's going to be a phenomenal crash as well.

No, no, no, it is different this time, it is going to accelerate upwards a few more magnitudes higher, then it will plateau at around $10-50.000, and after that it will consistently give 10% return annually after inflation has been deducted... Fantastic opportunity!

[madfranks]

No, no, no, it is different this time, it is going to accelerate upwards a few more magnitudes higher, then it will plateau at around $10-50.000, and after that it will consistently give 10% return annually after inflation has been deducted... Fantastic opportunity!

I get your sarcasm, but actually, it is different this time, because this is the first time in human history a crypto-currency has taken hold of the world economy. This truly is uncharted grounds here. Consider that the audience and potential users of bitcoin is everyone in the world. It's not a local currency or even a national currency, it's a world wide currency.

For the record, gold and silver are also world wide currencies.

[Ares]

I get your sarcasm, but actually, it is different this time, because this is the first time in human history a crypto-currency has taken hold of the world economy. This truly is uncharted grounds here. Consider that the audience and potential users of bitcoin is everyone in the world. It's not a local currency or even a national currency, it's a world wide currency.

For the record, gold and silver are also world wide currencies.

True and TPTB were the first to get the largest accumulations of silver and gold and work to enslave the rest of us whose ancestors didn't get in on the deal of gold / silver accumulation. This has the potential to be a world changer. ESPECIALLY if bitcoin can get a market cap of 1 trillion FRN's. Image the amount of pull a valuation like that can have on a global economy.

[chad]

why does bitcoin have capital controls?

https://mtgox.com/press_release_20130313.html

this makes me suspicious.

[Cebu_4_2]

why does bitcoin have capital controls?

https://mtgox.com/press_release_20130313.html

this makes me suspicious.

Most likely to keep stability?

[vacuum]

why does bitcoin have capital controls?

https://mtgox.com/press_release_20130313.html

this makes me suspicious.

Hackers have attacked exchanges before. They just want to make sure no one can potentially clean out a very large account if somehow they gain access to it.

If these controls are unpopular, people will leave that exchange and use another one without them.

[sirgonzo420]

why does bitcoin have capital controls?

https://mtgox.com/press_release_20130313.html

this makes me suspicious.

That's just MtGox, who is licensed with FinCEN, and so must meet AML/KYC regulations.

There are no "capital controls" for Bitcoin.

There are other exchanges besides MtGox (who, by the way, got its name because the domain name was originally for "Magic The Gathering, Online Exchange", but then bitcoins really took off), and there are more and more new ones all the time. Bitcoins<--->USD and/or bitcoins<--->gold/silver can also be traded "over the counter" between private parties.

At current market price, the 1,000 btc limit for MtGox is about $140,000 per day for "verified users", and 10,000 btc (about $1,400,000 per day) for "trusted users".

I'm not sure that this is as much of a problem as you think.... don't like the way they are set up, don't use MtGox - I don't use 'em.

[Sparky]

The total bitcoin value has still not approached the total market value of Beanie Babies in circulation at their peak. Yet the price has just tripled in the last three weeks? C'mon people. The price may well reach $1,000, but know that it will be under $10 within a few years.