Bitcoins

dryhat

Bitcoin at an all-time high of £214

167% increase in one month and based on solid fundamentals.

blinko

dryhat wrote: »

Bitcoin at an all-time high of £214

167% increase in one month and based on solid fundamentals.

what are those fundamentals?

dryhat

blinko wrote: »

what are those fundamentals?

A growing recognition that bitcoin is sound money and is being used by more and more people everyday.

A "good" money needs to be desirable, scarce, divisible, fungible, hard to counterfeit etc. etc...

Bitcoin not only ticks all those boxes, but as a brand new, ground-breaking technology its potential outside of a mere payment system has the potential to change things on a macro-economic level as well as a day-to-day payment system.

To paraphrase: it is pure supply and demand that is driving the price.

JohnRo

Free market money - "they" won't like it, I'm telling you.

dryhat

JohnRo wrote: »

Free market money - "they" won't like it, I'm telling you.

"They" are well aware of it though...

A very interesting interview from an IBM director of future money or something like that.
Talking, as I have done here many times, on the potential of Bitcoin as a technology not just as a currency.

Fascinating and exciting uses of new technology which are shaping tomorrow's world today...

http://www.youtube.com/watch?v=VDO7TDMlxsY

JohnRo

Very little doubt the genie is out of the bottle. If nothing else btc will pave the way for what follows.

Alex92_2

I remember a good friend of mine telling me to invest everything I owned in BTC at the start of the year but I ignored him, thinking it would crash soon .. lol. Could have probably retired if I did take his advice.

Seen that is has gone from $340 per BTC last night to $385 now.

Does anyone think this is still worth investing in now? Looking at the charts its spiked up massively over the last month or so. Will it continue to do so, or will it crash?

grizzly1911

Alex92 wrote: »

I remember a good friend of mine telling me to invest everything I owned in BTC at the start of the year but I ignored him, thinking it would crash soon .. lol. Could have probably retired if I did take his advice.

Seen that is has gone from $340 per BTC last night to $385 now.

Does anyone think this is still worth investing in now? Looking at the charts its spiked up massively over the last month or so. Will it continue to do so, or will it crash?

Well people seem to want to steal them so that must mean something.

http://www.bbc.co.uk/news/technology-24871444

dryhat

grizzly1911 wrote: »

Well people seem to want to steal them so that must mean something.

http://www.bbc.co.uk/news/technology-24871444

Once again, this theft is down to poor security rather than an inherent weakness or flaw in bitcoin itself.

(assuming it wasn't an inside job, as some are suggesting)

sabretoothtigger

They will steal then sell. If they were stealing like fine art to hang in their homes it'd indicate value some.
I like the IBM guy saying SR demise was positive not negative, I was thinking as much just by the minimal market reaction

Its the average price that matters, I think it'll keep rising over the years so long as the concept remains useful and unique.
If we measure price against amount of trade done, then its no where near its potential use in commerce. I would expect many problems to surface before it can go ahead fully.

The latest rise is China taking up currency to use apparently, 1.35bn people make a bit of a splash even if only 1% are doing it