10 votes

Holy crap Bitcoin is going up!

This is what I expected from Silver.
Well, is it a bubble?

$137 at the time of this post.

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i think governments are

i think governments are buying up all bitcoins (after all, you don't know who is on the other end of the transaction). this is causing the surge.

I'm not too worried about

I'm not too worried about 'getting in on the ground floor' and speculation.

I can think of all sorts of way to make more money if it sustains itself by creating markets.

Currency is only as good as its markets. Silk road isn't it for me just now.

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.

Everyone on DP deserves a reward for their hard work& dedication

Buy bitcoin - it's its own reward!

Don't feed the pandas. Ever.

I don't care what anyone

I don't care what anyone says.

I totally trust invisible computer programming that I can't understand, control, or defend to be a safe and long-lasting money.

LOL.

That's right...

That YOU don't understand.

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

I respect

you, Rafael 111. Anti-Bitcoiners appear to be losing traction. Hell, even if they choose not to buy in, they ought to recognize the value of the experiment and at least support it on those terms. I believe they'll come around.

"Anti-Bitcoiners appear to be

"Anti-Bitcoiners appear to be losing traction. Hell, even if they choose not to buy in, they ought to recognize the value of the experiment and at least support it on those terms."

Please explain more specifically what you mean by "Anti-Bitcoiners appear to be losing traction."

And also, are you really saying that those who are not Bitcoin advocates suggest that there is no value in "the experiment" of Bitcoin?

Because that, my friend, would be unsubstantiated stupidity.

In the end, should anyone require the services of a valiant warrior to battle the mightiest strawmen known to man, I will certainly pass along your name!

Cheers,

I hope you recognized

the irony of the straw man within your own comment. I'll address your questions and remarks in order:

The stronger Bitcoin becomes, the less traction the anti-bitcoiners seem to have. This should be clear enough, I would hope anyway.

You said, "And also, are you really saying that those who are not Bitcoin advocates suggest that there is no value in "the experiment" of Bitcoin?" (hint: this is what you said, not me, hence the irony of your suggesting that I'm using a straw man, and I agree that the statement is unsubstantiated stupidity, but perhaps too harsh of a word) You can read exactly what I said. The anti-Bitcoiners, those that speak out against it and try to convince others to conform to their own opinions, do not seem to recognize the value of the experiment. I hope that clarifies it for you.

Your last remarks are not honorable and that is all I will say to that. Perhaps you felt my comment was directed at you. I suggest you read it again to see that it clearly isn't. That is, if you don't consider yourself to be an anti-Bitcoiner.

Try to keep your cool. I'd like to believe we are on the same team.

Ladies and gentlemen, DP is

Ladies and gentlemen, DP is graced with the presence of one of Bitcoin's original programmers who actually knows the precise coding!

Welcome, Rafael 111! And congratulations!

You can study it yourself..

it's open source...

... relax dude, no one is trying to offend you. on top of that, almost all bitcoiners, including myself, that I know are some of the biggest gold bugs out there.

For anyone reading this go buy silver NOW... its below 27$

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

Thanks man!

Thanks man!

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

I am convinced...

that Bitcoin is in a speculative bubble, and at some point it will pop.

The only question is when will it pop, what price will it rise to before it all comes tumbling back down to Earth?

Don't get me wrong, I like Bitcoin, I think it's great, but I don't think it's current trajectory is permanent.

Check out the Laissez-Faire Journal at LFJournal.com


"The State is a gang of thieves writ large." - Murray Rothbard

I agree with you

and I hope this is the case (because I want to buy lots more without my current level of uncertainty). Then part my brain wonders if it is taking off and never looking back. It's entirely possible, this is a thing that has never been done before. I understand it's superiority to the fiat currencies and perhaps many others do too? I suppose in about 5 years we'll be looking back with clear sight on this unique moment in time.

Peter Surda on the Bitcoin run up, interviewed by Jeffrey Tucke

http://www.dailypaul.com/280612/peter-surda-on-the-bitcoin-r...

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

Act I of a New Broadway Play

It's a comic adventure, turns drama, ends in tragedy.

I would say

You have that exactly reversed. We're coming from tragedy, entering drama and we'll be laughing at 'The Bernank' in the end.

Decentralization of all, by all and for all FTW.

SteveMT's picture

Here is the story for your thread

If your already own Bitcoin, congrats. If you don't watch out for a pump and dump.
Bitcoins Go Parabolic
In the last 48 hours, the price of the virtual currency has surged by 50% from $94 to $141 as the rate of expansion goes more than parabolic.
http://www.zerohedge.com/news/2013-04-03/bitcoins-go-parabolic

Why trade one fiat currency

Why trade one fiat currency for another? That's what I really don't understand. But whatever. I am glad people are buying that stuff so the demand for physical gold and silver are not higher and I can buy more.

FYI, Bitcoin is not

FYI, Bitcoin is not "fiat."

People keep using the term "fiat" as though it means "made-up" or "paper" or "without backing." Fiat, as it pertains to money, effectively means "mandated for use and acceptance by government decree." Bitcoin, on the other hand, is voluntarily used and/or accepted by willing participants in transactions.

Indeed, as such, Bitcoin is the opposite of "fiat."

Though otherwise, I agree with your assessment.

That's just semantics... I'm

That's just semantics... I'm just a simple guy using the merriam-webster definition. I don't know why anyone would trust a currency that just popped out of thin air, if there is no production backing something up chances are its a SCAM!

I can only hope that Silver,

I can only hope that Silver, Gold, Platinum, and Palladium tank; I hope they go to zero. As you BitCoiners buy that junk I would be buying metals, because metals cannot be infinitely produced.

Before you say that BitCoin is limited to 21 million BitCoins you should realize that one can trade and infinitely small fraction of a BitCoin, thereby making a single BitCoin infinite in number of units of trade; this ability makes BitCoin worthless. One day people are collecting as many BitCoin as possible and the next day even the person with one BitCoin has an infinite number of units of trade.

On can always trade 1X10-100000000000 BitCoin; the actual number of BitCoin becomes irrelevant and it becomes equal to the Fed printing 100000000000 dollars. The only difference is who has it; but the destructiveness to the economy would be equal.

It's 8 decimal places. So

It's 8 decimal places. So you saying chopping a gold bar into tiny pieces will make make your gold worth less?

Bitcoin breaks down to five

Bitcoin breaks down to five decimal places. Incidentally, the supply of gold and silver increases because companies are mining it. Also, the price of metals could not go to zero, unless a perfect duplicate could be crafted using molecular nano-assemblers.

YAWWWWNNNNNN........

YAWWWWNNNNNN........

persistant troll, that one.

cheesy too.

Just a clarification.

Just a clarification. Bitcoins are divisible to eight decimal places.

https://en.bitcoin.it/wiki/Myths#21_million_coins_isn.27t_en...

My error.

MtGox.com

"Database access error, please retry later"

I just tried it. It worked.

I just tried it. It worked. But they must be getting slammed with trades.

They can't handle the bandwidth

is my asessment. bitcoincharts.com has had problems too.

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)