I think the nonstop growth is just a result of a crazy amount of media coverage, and the fact that it takes people a long time to actually buy it when they make the decision (Mtgox queue, getting money sent, Dwolla is slow someone said, etc). There are 10,000 ppl in the Mtgox queue someone said, and none of them are sellers.

If Bitcoin was traded on the NYSE where most people can get money in minutes, or maybe a day tops, the price would be a lot higher, given all the hype right now. As it is, I could be totally wrong, but it seems crazy to sell before MtGox has approved the huge backlog of people who want to buy.

The problem with the news frenzy theory is that much of the support and run-ups appear to be large buyers. I do think it all works together though.

I read a criticism here:
http://blogs.reuters.com/felix-salmo...-to-celebrate/

What are peoples thoughts on this? Growing pains or a fundamental flaw?

loan in btc is like a loan in gold -> both are lolz, that is that argument is lolz

bitcoin rise is basically bcs it has fundamental value against malpractices of alternative currencies (in recent case EU and US), similar like gold

people want btc mostly with the same reason why they want gold and silver - protection of assets and purchasing power

How large are they I never look at average buy size or anything like that? But even so, it's still related to the news frenzy, there are tons of guys with money who want to trade it, and then of course all the people who already have BTC are less likely to sell when it's white-hot and it feels like it can never go down haha.

I am a baby. I've just been born. I need to know how to buy BTC from UK. Can someone please explain how and try not to use words with more than 3 syllables?

I saw a 4000 coin buy the morning that it hit $100.

Some people see a chart and can't grasp anything but bubble. Some of his points seem contradictory.

For example, I get the impression he is saying Bitcoin is a bubble because the value of outstanding bitcoins is so small. And then that bitcoins are going to be worthless because their value is going to rise too quickly. It takes a very strange dynamic for this to make sense. I don't think he is right about that at all.

The article in general has good info, I just don't buy into his conclusions long-term.

Saw a 2200 yesterday to bring it to 111

http://howdoyoubuybitcoins.com/in/united-kingdom/

Eventually there will be stability. And keeping people from taking loans for frivolous stuff is a good thing.

few can grasp bitcoins purchasing power. all these early adopters have been acquiring real wealth for years. they boought all the silver from jp morgan etc

Could you pay your food with the very first credit card issued in the world?

It's a matter of acceptance/adoption. People around the world realized that BTC is superior to paper money and started adopting it. If Google/FB/Amazon adopts BTC, the next thing that will happen is your local groceries store implementing BTC payment methods.

Thanks but....

First option I've no clue how to do, site is in German and doesn't change languages when you request it to.

2nd option the Barclays pingit thing is no longer available.

3rd option bitcoin nordic, way too much % added on.

Last two options emails been ignored.

sorry for this basic question

lets say I buy some bitcoins off of MT.Gox.. They are now still located in my exchange account and thus have counter party risk right? How do I "withdraw them" to my wallet (say a USB stick or whatever) and hold them myself?

Bitcoin wallets have 'addresses' so they can recieve coins. You would simply copy and paste one of your wallet addresses (you have several) into the field where MtGox would ask you where you want to send your coins.

Your address will look something like this:

1dice8EMZmqKvrGE4Qc9bUFf9PX3xaYDp

figured I'd feel like an idiot after I got my answer, and.. yep I feel like an idiot!

Thanks

That's right, you get them sent to your wallet, which is stored on your computer. However, once you have done that, you are now in charge of it, and you need to encrypt and backup the wallet.dat file to be as safe as possible. That stuff isn't rocket science, but I feel like a lot of people don't bother. You don't want your HD to die and lose all your bitcoins or whatever.

Can someone explain that crypt and back up process ^ at least for Multibit?
How do you take the coin completely offline and put it back again when needed?

Or someone pm me for $10 stars or smth

Yea luckily for me I am neurotic about that stuff. For instance I probably have like 5 copies of my keepass DB in multiple locations/cities etc

Thats actually quite appealing about bitcoin, that is puts most/all of the responsibility on the user

Probably not. Businesses exist to satisfy customer demand. Without customer demand, they have no incentive to go after the market. No supermarket is going to accept BTC payment methods when credit cards and cash are viable.

I found this video pretty helpful for how to create a secure offline paper wallet. http://www.youtube.com/watch?v=JsyPfiENwQU You really only need to do this for a savings account with a large amount of coin in it. For smaller wallets you're probably fine just encrypting the wallet with a long password and printing/saving the password somewhere and backing up the encrypted wallet to dropbox or usb stick or wherever. If you download and use bitcoin-qt from http://bitcoin.org/en/choose-your-wallet it should become fairly obvious how to do this with a bit of use.


It's only appealing if you have some reason to believe your funds may be seized by your bank/payment processor/government. For the majority of law abiding citizens it's a huge headache and a significant unnecessary increase in risk.

Bitcoin sites, exchanges get hacked on the regular, I'm much more comfortable having my meager holdings in my control than on some site.

I take it that since you didn't refer to bonds and bitcoin, you think those are bubbles?

Care to explain the difference?







I left out a bond chart (not because I don't think it's a bubble) but because the Fed buying something because they want to stimulate the economy (and thus creating a bubble) is much different then "the public" going crazy over something and creating a bubble.

CB update: They apologized and sent my coins early this morning.