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Bitcoins over $40 and still Rising! Here is why it will go to $100

Whatever you think of Bitcoin you can not deny the rapid price appreciation and continued growth in popularity of the Crypto Currency. If you look at it from a completely objective standpoint there is plenty of reason for Bitcoin to continue to rise in dollars.

So why?

Well besides it's absolute stellar characteristics as a currency it is specifically the demand for products on the black market that continue it's assent. Bitcoins allows you to transact anonymously with anyone around the world. There are records of the transaction but unless you somehow reveal your link to the account used it's virtually anonymous. This provides a great median of exchange for those wanting to transact anonymously for fear of prosecution from a tyrannical unjust government.

Here is the main reason it could rise to $100 or even $200. Right now these transactions are handled in Bitcoins but the products are denominated in Dollars. So what does it matter to the purchaser of something what the price of Bitcoins is if he is receiving the same value as if were priced in Dollars. For example, I want to buy $300 worth of weed and I'm going to use Bitcoins for this transaction. well what does it matter to me If Bitcoins is priced at $30 or $100. I will still be buying $300 worth of weed. If I have to do that with 10 bitcoins or 3 bitcoins it doesn't matter. Therefore dont be surprised when you see $100 bitcoins. As long as there is demand to go through bitcoins to transact in dollars the price could really be anything. It's not until people lose trust in the dollar and start pricing in Bitcoins that it becomes it's own independent currency.



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Wow! Big jump today.

Indeed

Bitcoin is also gaining not only in Cash Value, but in weights of Gold too!

http://pricedingold.com/2013/03/03/market-update-1-mar-2013-...

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

LOTS of Haterade chugging going on here

PeacefulAnarchism's got a good point. The dude is not proposing dumping all your savings into Bitcoins, he's advocating them as a viable alternative currency.

If you bought half a Bitcoin for 17 bucks and bought a few jars of peanut butter with it on the same day, you wouldn't lose a damn thing, and you'd weaken the Fed's financial hegemony.

As much as people here talk about worthless FRNs, this kind of response makes me feel like there are few cowboys out here that are all hat and no cattle.

It doesn't have to be your life savings, it can be six bucks.

Author of Shades of Thomas Paine, a common sense blog with a Libertarian slant.

http://shadesofthomaspaine.blogexec.com

Also author of Stick it to the Man!

http://www.amazon.com/Stick-Man-Richard-Moyer/dp/1484036417

If this is the solution

If this is the solution to dis-empowering the bankers then can anyone tell me how Bit coins are made? Is this something that can be equally profitable to another currency manufacturer or is this an honest form of monetary exchange that lends no further penalty for its use? The dollar is a debt. How exactly is Bit coin a form of wealth?

Why so lazy..

Your questions are really broad, I can sit here and answer them and address your concerns but unless you due your own do diligence, research and try to understand the mechanics of Bitcoin you wont fully understand and grasp it's value as a currency. It took me about a full weekend of reading and research to see how it really is ingenious, how it promotes liberty and why it's so valuable as a currency.

Boycott Dollars!

Why can't Libertarians stop empowering the central bankers?

Nice one by the way

No Idea

It's sad really, all these people wanting liberty using their oppressors money, I only use their money to pay my extortion fees.

Here is some great Bitcoin basics videos by CBT Nuggets

http://bitcoin.cbtnuggets.com/

Exactly what I said last night..

In a freaking Video... I got so frustrated that I made a freaking Video..

https://www.youtube.com/watch?v=gbWVMRZAQfI

Best feature I've seen...

It's nearly free (around $.03) to exchange currencies. If you want to go from USD to Euro and back, that can be done without paying the exchange rates.

This feature alone I think will keep Bitcoin solvent. Yes it's pretty much as easy to use as a debit card, or at least soon will be, yes it's pretty much anonymous, yes it isn't centrally controlled. All good things, but, I try to get down to the brass tax of why this will hold. As long as it's ease of use in exchange convertibility is there, the cost per bitcoin really doesn't matter. They are just a place to store money until you want the funds to be released.

Trade them all you want, but, it's their conversion to any currency, extremely cheap is what drives their value. The fact that if only a few of the x amount of currencies are readily convertible, it basically means all are convertible, because the accepted currency can always be traded for those that refuse. That might not be clear, but, it's the diversity that hold it up.

I travel a lot and use

I travel a lot and use airbnb.com
Yesterday I told them to please start taking bitcoins for the reason you just stated.

airbnb is like a way nicer couch-surfer company

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Do Your Due Diligence

It is pretty obvious that the people that bad-talk bitcoins haven't really done their homework.

Please become informed before critiquing something you're simply "skeptical" about.

Here are two great presentations on bitcoins:

http://omegataupodcast.net/2011/03/59-bitcoin-a-digital-dece...

http://www.bitcoinmoney.com/

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

The faster it rises, the worst it looks

http://en.wikipedia.org/wiki/Tulip_mania

I'd be happier if it was steady.

And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

yeah man I definitely agree with you

.

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Apples to Oranges... Intellectual Dishonesty

Why did people buy Tulips? What was the reason for the demand? They bought on pure speculation and hoping for price appreciation. There was no Utility to the Tulips. That is definitely a mania.

Why do people buy bitcoins? Sure some speculate but as discussed in the original post people buy Bitcoins to transact. It is a currency, probably the best currency available to us. That demand for it is created by its utility. So, will the price of Bitcoins in dollars fluctuate. Sure, but as long as the demand is there it's function as a currency will keep it's value in a steady ascending trend.

Bitcoins>Dollars

Get on the side of Liberty!

hey guys I posted this about a minute ago..

http://www.bitcoinmoney.com/post/44049245548/video-bitcoin-s...

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Couldnt get that link to work

Couldnt get that link to work

Could you make some references?

As I'm posting this, the high volume exchanges haven't gone over $35.00 (yet). You must feel pretty confident.

"it is specifically the demand for products on the black market that continue it's assent"
Reference? Source? Proof?

I'm pretty invested time wise into bitcoin and it's my perception/gut feeling the rise is mostly from a few very big players that are gaming the market. Rises like this have a tendency to create a since of greed, hoarding, and speculation that attracts money which cares little or nothing for this revolutionary currency IMO. Unfortunately, there is going to be a lot of "suckers" that will be milked that start buying large amounts of coins.

I'm not saying this because I've sold all my coins. The truth is, I've only sold about 40%. I will continue to sell a little everyday until this madness ends.

You want to invest in bitcoin? Please start with Mining:
www.butterflylabs.com
http://launch.avalon-asics.com/
Long term, you will get fair value for your purchase and energy use.
Plus, you will learn a ton and will be consider a "partial owner" of the Bitcoin technology and that makes it well worth it IMO.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

You are right

I have no references. This is just based on my observation. If I want to buy something denominated in Dollars and I have to use Bitcoins, Does it matter what the price of Bitcoins is?

No it doesn't. Are Bitcoins used for purchases every day? Yes they are. Do people buy Bitcoins to Transact in Bitcoin. Yes they do, I am one of them. I buy Bitcoins in dollars to purchase things over the internet. Do I care what the price of Bitcoins is. No I dont.

Maybe there are some "Big players" gaming the market. Im not into conspiracy theories. If you have evidence for it, different story. either way I dont have my wealth in Bitcoins and I dont advise that people do However I can not deny it is by far the best currency available.

But what there is evidence for and a stong case is for Bitcoins to go a lot higher. I see the demand side for it's Utility as a driver. If you also add the fact that there are Online Casinos popping up circumventing Government scrutiny because they use Bitcoins it just adds more on the Demand side. Does a Person who wants to Gamble online care what the price of Bitcoins is. Nope, not for the sake of gambling so they will purchase Bitcoins at whatever price.

Keep on selling your Bitcoins. Take Gains off the table. Not a bad Idea, I'm just stating that there is an obvious Dynamic in Bitcoins to go much much higher. Could Bitcoins have a severe sell off? Sure but so what? Everything has a sell off. However Bitcoins Utility will still be there and so will the Demand.

Any digital transaction can be tracked

What's to prevent packet sniffing of some kind on a massive dragnet scale identifying bitcoin transactions, and then further identifying the two parties on either end of the transacting?

I think you - ie. the bitcoin advocates that paint rosy pictures - are mitigating the hundreds of billions invested in the security state worldwide ..

And particularly any technology or transactions that stink of bypassing "their" (ie the central banking technocratic deep state) taxation and control schemes.

Before you claim that 'the technology doesn't exist' .. well ..
Are you sure?

Or (if so) what makes you think that they are not working on perfecting that technology and rolling out plans to squash this kind of thing before it gets out of hand?

Cause I would be willing to bet on that, long before I would bet that any digital coin system will ever take off and be a factor becoming free of the fiat currency system or restoring a true free market.

Of course there is risk

So go hide under your bed and don't come out.

I'm not advocating putting your wealth into Bitcoins, Im advocating using it as a currency and transacting in it. Are they building Technology to try and track it? Sure they are but it's not there yet and If you dont want to get to that point Bitcoins needs to gain popularity as a currency world wide. It's a race for control. It can be in the hands of the Central Bankers or in the hands of the people. I'll pick the hands of the people and use Bitcoins as a way to try and make that happen. You go ahead and keep empowering the Bankers by using their currency and living in fear.

Fear has nothing to do with it

From what I've see so far, the people that are sold on Bitcoin hardcore are showing the same primary symptom all people do when they are sold hardcore on something:

Rationalization.

When people point out the obvious flaws or gaps in their reasoning on their chosen (religion / political philosophy / toothpaste etc) the objections are rationalized away because .. ?

Because the people that are sold on it have so much emotionally invested in believing it, that it overpowers reason.

I've brought something in these threads that hardcore 'bitcoin believers' consistently brush aside as irrelevant. When the truth is it strikes right at the heart of what makes bitcoin what it is:

It's digital. It is virtual.

ie it is inherently Fake.

And I haven't heard an adequate answer to that yet.

The entire thing is completely dependent on computers and internet and communications systems and electric power

ALL of which are vulnerable to going down -- and ALL of which are subject to the whims and control of authoritarian corporations and state apparatus.

This has nothing to do with 'fear of being caught by the man'.

Bitcoins do not have to be used in a black market economy, so the potential being apprehended buying drugs or weapons or black market goods is a separate issue entirely.

The issue is the inherent insecurity of digital money.

Power grid goes down / martial law declared / cyber attack (genuine or false flag) / massive change in regulations and seizure of underlying communications systems / targeted disruption of all digital money networks for the sake of "the economy" / emp attack ...

etc etc etc.

Digital money is fake

Precious metals are not

PS - and no I am not one of the people that downvoted you :)

Dude, You lose!

If you rather use dollars than Bitcoins then you are part of the problem.
I am not emotionally charged about Bitcoins Im emotionally charged for liberty and this is one very sharp weapon against the powers that are looking to undermine it.

Im not brushing anything off, I understand the risks associated with Bitcoins but what is the alternative?? Dollars? Sorry The dollar has all the risk that Bitcoins has plus much much more and It empowers the Central Bankers. All your points trying to refute Bitcoins as a currency are invalid if you rather use dollars instead of Bitcoins. Is silver and gold the best money? sure, but as a currency they suck... hence the reason fractional reserve banking even came into existing.

You say there trying to track Bitcoins and use that as an example of a flaw. Well I can say the same thing to someone who is thinking about investing in silver or Gold. I can hit them with tons of fear by telling them that the Govt is trying to track it, The govt will confiscate it, the govt will label you on a terrorist. Should that deter them from investing in silver and Gold? What if everyone ignored the fear propoganda you push and just started using Bitcoins to transact? What would happen to the Central Power? It would collapse. So, you go ahead and keep living in fear... continue to do nothing and live your life as a coward. I'll take my chances.

I totally get the Bitcoins system is not full proof, I totally get that it is virtual, I get there is nothing backing it. No one is advocating putting your wealth into Bitcoins and honestly I hope for a day of a virtual currency backed by some commodity like Goldmoney to come full circle. However right now with the current power structure it's not possible.

Therefor Bitcoin which is the best alternative currency available and it takes power out of the hands of the Central Bankers and into the hands of the people. This is something we should all look to use before we consider using dollars.

I still haven't figured out what I can buy with bitcoin

The only answers that I ever get is that:

1. you can buy them
2. you can sell them
3. You can trade them

But a better question is:

How does anyone buying or selling something determine pricing when using bitcoin? The value is determined only by what the last sucker paid.

There are wild fluctuations in what bitcoins are supposedly worth. At one time bitcoins were valued at -$8.00.

Bitcoin may be the future of money, but until I can see bitcoin working in the real world, I'll be steering clear. The early adopters of bitcoin will probably reap a fortune (by selling this virtual money to ignorant people), others will take it in the shorts. Isn't that the definition of a pyramid scheme?

“Disobedience is the true foundation of liberty. The obedient must be slaves.”― Henry David Thoreau

www.bitmit.net

www.bitmit.net to name just one of many

Lost of stuff for sale on this site. Unfortunately, there's a lot of porn material for sale and the site administrator does a lousy job of censoring the material.

“I’m fully diversified. I’ve got some under the mattress, some under the floor boards, some in the backyard.”

Silver

Looks like you can buy silver on there... I might have to look into bitcoin mining.

That might be a characteristic of a Pyramid Scheme

But Bitcoins is not a Pyramid Scheme. All you have to do is a little due diligence and some research and it becomes very clear that Bitcoins is the anesthetist of a Pyramid scheme. What is for sure a Pyramid scheme is the Dollar system,, so if your trying to steer Clear of Pyramid schemes you should start there.

Bitcoins hold their value in their Utility, Not in Dollars. Eventually as more and more people begin to use Bitcoins instead of Dollars the price per Bitcoin could go to a zillion dollars but no one will care because no one will transact in centrally controlled highly manipulated evil petro dollars. People will want a sound currency that appreciates in value not depreciates.

Just do some research, you can buy plenty of things with Bitcoins. Even silver and Gold. As more and more people as well as companies begin to accept Bitcoins(which they happen) then you will see it's true utility at work. until then be skeptical but just like the first miners in the Gold pit got the huge junks you will be wishing you traded in your worthless dollars and got some Bitcoin.

Want to End the Fed, Use Bitcoins!

I would prefer a virtual currency denominated in Gold. Something like Goldmoney. However, something like this can not be done right now. Governments wont allow it and for those places that do, you still retain a high risk that GoldMoney vaults will be an easy target and the gold confiscated. If we ever get to the point that something like Goldmoney gets up and running then I think Bitcoins will become less desirable and the free-market will pick a commodity based virtual currency as the winner. So until then the best way to bypass the dollar system and empower the people is Bitcoins. It mimics a Gold Standard, its anonymous, it's easily transferable, it's quantity is not centrally controlled, it's continually audited, it's really freaking an ingenious tool. One that I hope all lovers of Liberty will utilize. It's a general statement but Libertarians need to start Walking the walk dont just talk the talk... Want to end the Fed..Use Bitcoins. Then once it's gone let the free market decide what currency to use.

I would like to buy an ICBM

in onionland with my bitcoins.. How will they deliver it?

Patriot Cell #345,168
I don't respond to emails or pm's.
http://www.youtube.com/watch?NR=1&feature=endscreen&v=qo8CmO...
Those who make peaceful revolution impossible will make violent revolution, inevitable.