Quote from: bubblesort on March 26, 2013, 12:18:45 AM

Quote from: siulynot on March 25, 2013, 11:50:49 PM

STOP THE FUD! You are making a lot of people believe something that is not real... if Cyprus bank issue will have an impact in bitcoin it will be long term... years will pass first before big herds come and use bitcoin as a bank.

I didn't mean to spread FUD at all. I was interested in seeing what the community here thought about what would happen when the Cypriot banks open. When the Cyprus situation blew up last week, before we knew the banks would be closed for so long, I remember a lot of posts on the bitcoin subreddit saying "it will be interesting to see what happens when the banks reopen," then the price shot up another $20 US or so over the next few days. Add to that the mainstream press discovering bitcoin and saying that Cyprus is driving the bitcoin boom and well... this seems like it might be a useful conversation to have.

Me, I'm new to this and I'm still wrapping my head around how the market moves. I can't forecast this at all, but I'm guessing that other people here can.

If anything this thread is removing some FUD. I don't see a single person here saying that they expect everybody in Cyprus to convert fully to bitcoin and drive the price up over $100 US in a day or two. That makes sense to me, because I wasn't really buying the whole Cyprus is driving all the gains story either. Like I said, though, I'm new, so I'm not really in a good position to forecast.

Full disclosure: I own no bitcoins, bitcoin derivatives or cryptocurrency assets at all right now. Today I plan to make a Linux partition with TrueCrypt, install the software and buy some BTC in order to buy VPN service with bitcoin because my current VPN provider is not that great, but I don't plan to invest until I've watched the volatility recede and have a deeper understanding of what I'm buying.

Very nice that you clarify...

People have tried to make believe that Cyprus have done something to do directly with the btc recent rise and thats not real. Reality is a little bit less optimistic, what in reality happened is that people is speculating that Cyprus WILL HAVE IN THE FUTURE something to do with bitcoin and are desperately buying now thinking that when people in Cyprus begin to buy bitcoins price will explode.

Its called a bubble.

Very good for you to wait for stabilization, very few newbies have that reasoning. Im proud of you.

Every price above $15 has been pure speculation, there is no support on anything above $47, even from $25 to $40 there is no big supports either. Im sure price will eventually be below $20 before continuing to rise, if that doesnt happen, then bitcoin will fail miserably when less people expect it.