Question: How long does it typically take for the USD exchange rate of bitcoin to double?
Answer:
| Start_rate | End_rate | #_of_days | Dates |
| $3.125 | $6.25 | 194 | 2011-12-01 to 2012-06-15 |
| $6.25 | $12.5 | 163 | 2012-06-15 to 2012-11-25 |
| $12.5 | $25 | 79 | 2012-11-25 to 2013-02-12 |
| $25 | $50 | 30 | 2013-02-12 to 2013-03-18 |
| $50 | $100 | 14 | 2013-03-18 to 2013-04-01 |
| $100 | $200 | 8 | 2013-04-01 to 2013-04-09 |
Given this timetable, would anybody like to make a guess at a range of dates between which they believe the exchange rate will reach $400?
This post just made me cash out. I just sold almost all my bitcoins on MtGox for $236 each. I'm going to use the dollars to pay off debt.
I don't understand the price appreciation. If I had money right now to invest I would not buy bitcoins. Thus I shouldn't keep my bitcoins because the dollars are more valuable to me. If the price does collapse I will be glad to have taken this move. If the price keeps doubling every day or so then I will just wonder why? I don't think I will ever understand it. It challenges my very conception of what value is.