I like Calamities side. We are most likely retesting the $105 support line today.

lol really?

That assumes that the improvement is done in a way that Bitcoin could adopt without rolling everything back to ground zero. That is not a given.

lolz



from: http://www.reddit.com/r/Bitcoin/comm...hold_spartans/

looks like its about to hit 100 again

Appears to be down to 120 or so.

Best post ITT, ignore at your peril.

Favorite Comment: "Just like Sparta, you are going from 300 to 1 real quick."

One thing people don't understand about widespread adoption is that big companies (lets talk amazon since that seems to be the one people mostly want to see bitcoin on) will almost never allow the acceptance of bitcoin, so long as it is associated with online drugs. In most of these mainstream articles explaining bitcoin, there is always things mentioned about online drug dealers. Seeing a bar in NYC accept it is great, and I plan to go there at some point just to see how many people actually use it and etc, but to realistically expect major online retailers or B&M ones is crazy. They will not let their brands be associated to something that will appear negatively to the masses, when there is little upside for them to accept it.

Which is pretty weird logic, since my $20 bill can be used for drugs too. But I see what you're saying.

It's true but nobody associates the USD with being able to buy drugs, even if you can. When forbes or whoever publishes an article about bitcoin though, they very frequently mention that it is commonly used to buy drugs online.

Retailers can accept it because they have no risk in accepting it. The big ones have such solid reputations, it would do more to help Bitcoin than harm themselves and immediately disarm the "only used to buy drugs" argument.

Yesterday's volitility wasn't an example of risk?

the retailer will be paid in their currency of choice at time of purchase

here we go... 70 on btc-e

mtgox trading suspended until tomorow

Interesting. People with BTC on MTGox could be very displeased about that. I think it's a poor decision, although I'm open to being convinced otherwise.

People with btc on gox can move them to another site to sell. People with $ on gox might have a harder time moving them to another site to buy btc.

Anyone thinking large retailers will accept bitcoin are completely delusional.

I cannot believe so many people are putting money into something without a basic understanding of economics.

The USD is 3-5% inflationary. Bitcoin eventually will be 0-1% inflationary. How can there be that much of a difference?

dc_publius made a post that i mostly agree with, except for the conclusion. yes, if government quashes it, the price is basically 0 -- we both agree there. but it is unclear to me that the govt can. there are more govts than just usa too.

today most ppl myself included lost their ass if they had a position in btc, its a rocky road. btc could be 0 tomorrow, so be it. i stand by my bets win or lose.

60..

reading newest submissions on the bitcoin subreddit during this is amazing btw

I would love to see BitCoin or something like it really take off.

You'll know they have really made it when governments begin trying to shut it down.

They'll attempt to do so under the guise of protecting us from big bad terrorists, drug dealers, and child predators.

Thats going a little far. They were clearly not ready for the massive amount of scaling that they required so are probably taking the day to get their infrastructure in place. Yes, it is a terrible and arguably unethical way to accomplish the scaling, but it does make sense in an unregulated free market way.

right, there are many govs that need to ban it. but even if they do there are ways to get money on their untraceable (see bitlaundry).

The point is it will never be 0. It can easily drop to close to zero but it will always have some value.