Buy some now, sell them later! Seems that's what everybody has been doing lately. Looks pretty bubbley to me though; most of the newer owners haven't really bought into the concept so much as they see a rapidly appreciating commodity; the underlying health of the Bitcoin economy is what will sustain its long-term value and I haven't seen any evidence that recent buyers care about that at all. They'll all flee in a panic when the party ends and they begin to lose money.
Human behavior is economic behavior. The particulars may vary, but competition for limited resources remains a constant.
- CEO Nwabudike Morgan
Looks massively bubbly to me too, especially in the last hours. Perhaps the new buyers don't remember the correction in 2011, or care.
But even after any corrections, it looks to me like bitcoin is here to stay. That means we have an international, non-fiat currency and we have 100% reserve banking, without banksters. That is an interesting development indeed.
Jake wrote:
Looks massively bubbly to me too, especially in the last hours. Perhaps the new buyers don't remember the correction in 2011, or care.
But even after any corrections, it looks to me like bitcoin is here to stay. That means we have an international, non-fiat currency and we have 100% reserve banking, without banksters. That is an interesting development indeed.
Good call on the bubbly.
I sold just a little bit on Saturday evening my time for about $140. Way missed the top. But I also was way off the bottom. And who knows which way it will go next.
I hope your call on "here to stay" is as prescient. I'm not willing to make that call yet, but I'm even more reluctant to claim "Bitcoin is going to die!"
Seems that's what everybody has been doing lately. Looks pretty bubbley to me though; most of the newer owners haven't really bought into the concept so much as they see a rapidly appreciating commodity; the underlying health of the Bitcoin economy is what will sustain its long-term value and I haven't seen any evidence that recent buyers care about that at all. They'll all flee in a panic when the party ends and they begin to lose money.
