Bitcoin breaks through the $1,000 barrier

[churchill]

Bitcoin under pressure

http://www.economist.com/news/technology-quarterly/21590766-virtual-currency-it-mathematically-elegant-increasingly-popular-and-highly?fsrc=scn/tw_ec/bitcoin_under_pressure

[trunknuk]

If you want to get in, https://localbitcoins.com is about the easiest place to buy BTC with THB.

[12DrinkMore]

If you want to get in, https://localbitcoins.com is about the easiest place to buy BTC with THB.

It's a Ponzi scheme.

A lot will take a big hit.

You really want to buy from

"The transaction will happen at a place with wifi in walking distance around Khao San Road, Bangkok. You'll recognize me as a long haired European with glasses, wearing probably flares and sitting behind a black Lenovo laptop."

With huge buy and sell spreads and relying on offers above to convert back to cash if you want to?

Oh dear, oh dear.

Once the buyers have gone away there will be only sellers and a price of zero.

All that will remain will be a bit of digital real estate somewhere on their harddrive.

[JetsetBkk]

Sell!

http://www.lewrockwell.com/lrc-blog/two-bits-on-bitcoins-price-charts-suggest-sell/

[RandomSand]

Buy!

UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins (zerohedge/FT)

[Khun Jean]

Hold!

[puukao]

remember, only people mad at losing this opportunity say SHORT. only jealous people say short at 100 as it goes to 1200. they say short all the way up, and then say they are smart when it pulls back from 5000 to 4500.

this was just one opportunity to get rich and retire wealthy forever. hope you all bought low and made millions...

if not, don't worry, bitcoins are going much higher. can you say 15,000?

impossible!!! says the person eating 15 baht soup.

[brit1984]

it seems only those with vested interests (i.e. bitcoin "investors") say buy

but they never explain the basis upon which the current price (equivalent to ~15 BILLION USD) for all the bitcoins is below fair value (or below any future value discounted to today to take account of time value of money and the risk of allocating part of your portfolio to a new and highly volatile asset class, which has obvious flaws / obstacles / competitors / substitutes to overcome)

investing in an asset BECAUSE its price has been increasing, without making an assessment of how the current price compares to value and without considering the risks and opportunity costs of investing in that asset has proved time and time again to be a dangerous strategy

for all those who have made a capital gain on paper (or should i say on the computer screen) thus far i recommend to sell now and enjoy

for all those who plan to buy / hold and think they will be foresee the bursting of the bubble before all other market participants i wish you good luck

[pancakeman]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

[JetsetBkk]

Sell!

http://www.lewrockwell.com/lrc-blog/two-bits-on-bitcoins-price-charts-suggest-sell/

Buy!

UK Royal Mint Working On Plans To Issue Gold-Backed Physical Bitcoins (zerohedge/FT)

Hold!

Or... just click on another thread.

[brit1984]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

who is going to make that "transition" happen? and how?

whoever it is, they better be well armed

[NCFC]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

i'd rather buy tulips, at least I could look at them for a few days.

[pancakeman]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

who is going to make that "transition" happen? and how?

whoever it is, they better be well armed

Who "made" the industrial revolution happen?

The opposition (the "luddites") were well armed; didn't seem to work out for them though.

[Naam]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

will the replacement of fiat currencies happen before or after Scotty beamed you up?

[pancakeman]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

will the replacement of fiat currencies happen before or after Scotty beamed you up?

Still butthurt that you didn't buy in back in 2011 for $5 when you had the chance?

http://www.thaivisa.com/forum/topic/472826-bitcoins-as-a-medium-of-exchange/

Or then again when you had the chance at the beginning of 2013 for $13:

http://www.thaivisa.com/forum/topic/600030-bitcoin-where-to-buy-if-to-buy/

In 2014 we'll be looking back saying "look when had a chance to buy at $1000", wonder where we'll be then.

If you'd invested 1million baht in 2011 you'd have 200million baht now.

[meechai]

Huge bitcoin heist: Black market drug shop Sheep Marketplace poofs with $40 million

[brit1984]

@pancakeman... so what?... just because the price of an asset has been rising exponentially does not mean it will continue to do so (in fact it is often the prelude to a sudden and significant price drop)

bitcoins will mostly likely not become mainstream because the price is so volatile that it does not make sense to hold it as savings and the price will not stabilize until after it has become mainstream, but it will not become mainstream until the price has stabilized, etc

Edited December 3, 2013 by brit1984

[Suradit69]

Fidelity now allows clients to put bitcoins in IRAs

Well, sort of ...

Fidelity has partnered with SecondMarket’s Bitcoin Investment Trust to allow its clients to save for their retirement by putting the virtual currency in self-directed IRAs.

“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA,” said Barry Silbert, chief executive of SecondMarket, in an interview.

... but read the article before making plans for a bitcoin funded retirement.

http://blogs.marketwatch.com/thetell/2013/12/11/fidelity-now-allows-clients-to-put-bitcoins-in-iras/

[PeterSmiles]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

will the replacement of fiat currencies happen before or after Scotty beamed you up?

Still butthurt that you didn't buy in back in 2011 for $5 when you had the chance?

http://www.thaivisa.com/forum/topic/472826-bitcoins-as-a-medium-of-exchange/

Or then again when you had the chance at the beginning of 2013 for $13:

http://www.thaivisa.com/forum/topic/600030-bitcoin-where-to-buy-if-to-buy/

In 2014 we'll be looking back saying "look when had a chance to buy at $1000", wonder where we'll be then.

If you'd invested 1million baht in 2011 you'd have 200million baht now.

But if you invested 1 million Baht when you made this post, you have 680.000 Baht now, and a few days ago even only 453.000 Baht.

http://bitcoincharts.com/markets/mtgoxUSD.html

[Naam]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

will the replacement of fiat currencies happen before or after Scotty beamed you up?

Still butthurt that you didn't buy in back in 2011 for $5 when you had the chance?

http://www.thaivisa.com/forum/topic/472826-bitcoins-as-a-medium-of-exchange/

Or then again when you had the chance at the beginning of 2013 for $13:

http://www.thaivisa.com/forum/topic/600030-bitcoin-where-to-buy-if-to-buy/

In 2014 we'll be looking back saying "look when had a chance to buy at $1000", wonder where we'll be then.

If you'd invested 1million baht in 2011 you'd have 200million baht now.

But if you invested 1 million Baht when you made this post, you have 680.000 Baht now, and a few days ago even only 453.000 Baht.

http://bitcoincharts.com/markets/mtgoxUSD.html

all said only adding "if you had known the lotterie numbers of the latest $636 million jackpot..."

http://www.bbc.co.uk/news/world-us-canada-25419833

[NeverSure]

remember, only people mad at losing this opportunity say SHORT. only jealous people say short at 100 as it goes to 1200. they say short all the way up, and then say they are smart when it pulls back from 5000 to 4500.

this was just one opportunity to get rich and retire wealthy forever. hope you all bought low and made millions...

if not, don't worry, bitcoins are going much higher. can you say 15,000?

impossible!!! says the person eating 15 baht soup.

I'm waiting for the bitcoin to hit $10,000 before I buy. I don't like to mess around with lost causes small stuff.

[brit1984]

remember, only people mad at losing this opportunity say SHORT. only jealous people say short at 100 as it goes to 1200. they say short all the way up, and then say they are smart when it pulls back from 5000 to 4500.

this was just one opportunity to get rich and retire wealthy forever. hope you all bought low and made millions...

if not, don't worry, bitcoins are going much higher. can you say 15,000?

impossible!!! says the person eating 15 baht soup.

I'm waiting for the bitcoin to hit $10,000 before I buy. I don't like to mess around with lost causes small stuff.

i did some quick calcs and i reckon it's interesting below ~6.50 USD/coin

[pancakeman]

We say "Buy" because bitcoin is a direct replacement for fiat currencies. IMHO it will completely replace fiat, so the question is do you want to be at the start or end of that bell curve as the transition occurs?

Once the transition has completed and fiat is obsolete it will be back to business as usual; what you have at that point will be your starting position.. There will be no more opportunity for massive wealth redistribution after the transition.

will the replacement of fiat currencies happen before or after Scotty beamed you up?

Still butthurt that you didn't buy in back in 2011 for $5 when you had the chance?

http://www.thaivisa.com/forum/topic/472826-bitcoins-as-a-medium-of-exchange/

Or then again when you had the chance at the beginning of 2013 for $13:

http://www.thaivisa.com/forum/topic/600030-bitcoin-where-to-buy-if-to-buy/

In 2014 we'll be looking back saying "look when had a chance to buy at $1000", wonder where we'll be then.

If you'd invested 1million baht in 2011 you'd have 200million baht now.

But if you invested 1 million Baht when you made this post, you have 680.000 Baht now, and a few days ago even only 453.000 Baht.

http://bitcoincharts.com/markets/mtgoxUSD.html

Let's resurrect this post again in 2015 and see what that 1Million baht is worth. My money (literally) is on it being worth lot more. We'll see if naam has missed the boat once again.

[NeverSure]

Still butthurt that you didn't buy in back in 2011 for $5 when you had the chance?

http://www.thaivisa.com/forum/topic/472826-bitcoins-as-a-medium-of-exchange/

Or then again when you had the chance at the beginning of 2013 for $13:

http://www.thaivisa.com/forum/topic/600030-bitcoin-where-to-buy-if-to-buy/

In 2014 we'll be looking back saying "look when had a chance to buy at $1000", wonder where we'll be then.

If you'd invested 1million baht in 2011 you'd have 200million baht now.

But if you invested 1 million Baht when you made this post, you have 680.000 Baht now, and a few days ago even only 453.000 Baht.

http://bitcoincharts.com/markets/mtgoxUSD.html

Let's resurrect this post again in 2015 and see what that 1Million baht is worth. My money (literally) is on it being worth lot more. We'll see if naam has missed the boat once again.

"Naam missed the boat once again."

You, my friend, should get on Naam's boat. Maybe he'll throw you a life jacket, haha.

[JesseFrank]

Bitcoin prices plunged again Monday morning after Mt.Gox, the major exchange for the virtual currency, said technical problems require it to continue its ban on customer withdrawals.

Bitcoin prices on Mt.Gox plunged from about $693 just early Monday to $510 at 6 a.m. ET,

http://money.cnn.com/2014/02/10/investing/bitcoin-problems/index.html?source=yahoo_hosted

[Langsuan Man]

Bitcoin prices plunged again Monday morning after Mt.Gox, the major exchange for the virtual currency, said technical problems require it to continue its ban on customer withdrawals.

Bitcoin prices on Mt.Gox plunged from about $693 just early Monday to $510 at 6 a.m. ET,

http://money.cnn.com/2014/02/10/investing/bitcoin-problems/index.html?source=yahoo_hosted

We called people who invested in Gold Gold Bugs

I guess we are going to have to call those who invested in Bitcoin Losers

[pancakeman]

Let's resurrect this post again in 2015 and see what that 1Million baht is worth. My money (literally) is on it being worth lot more. We'll see if naam has missed the boat once again.

"Naam missed the boat once again."

You, my friend, should get on Naam's boat. Maybe he'll throw you a life jacket, haha.

EDIT: Nevermind I see you post was from last year and not recent. Is it 2015 already? As I said we'll revisit Naams boat in 2015; and I guess we can add you to that list (no bitcoins in ya wallet)?

P.S. at the time of my last post (20/12/2013) the bitstamp price was $610. Current price of bitstamp: $708....So nope...don't think i need a life jacket.

At this point Mt Gox should be totally disregarded. This is just their last in a long line of incompetence and lies. The only people trading on there are prisioners. They can't get money out through cash withdrawals, or bitcoin withdrawals...the only thing users can do is keep trading their money away until it has all been converted to Mt gox fees.

Edited February 11, 2014 by pancakeman

[brit1984]

...the Bitcoins in circulation are still priced at 10 BILLION USD!

[Naam]

Let's resurrect this post again in 2015 and see what that 1Million baht is worth. My money (literally) is on it being worth lot more. We'll see if naam has missed the boat once again.

"Naam missed the boat once again."

You, my friend, should get on Naam's boat. Maybe he'll throw you a life jacket, haha.

EDIT: Nevermind I see you post was from last year and not recent. Is it 2015 already? As I said we'll revisit Naams boat in 2015; and I guess we can add you to that list (no bitcoins in ya wallet)?

P.S. at the time of my last post (20/12/2013) the bitstamp price was $610. Current price of bitstamp: $708....So nope...don't think i need a life jacket.

At this point Mt Gox should be totally disregarded. This is just their last in a long line of incompetence and lies. The only people trading on there are prisioners. They can't get money out through cash withdrawals, or bitcoin withdrawals...the only thing users can do is keep trading their money away until it has all been converted to Mt gox fees.

should you be interested i could name a whole fleet, not of boats but of ships including aircraft carriers, you have missed because you concentrated on some measly and intangible values created out of thin air. of course you wouldn't have a faint idea what i was talking about.

[Naam]

then there are all those trains you missed whilst making pancakes