Quote from: anu on April 19, 2013, 04:05:04 PM

Quote from: GotBitCoins on April 19, 2013, 03:50:10 PM

We don't know the true price of BitCoin right?

What is a true price? The government approved price? The inner value? What's the inner value of gold - it's just protons, neutrons and electrons, just like pish. It even shares the color.

Quote from: GotBitCoins on April 19, 2013, 03:50:10 PM

Gold which is trading at 1400$ goes to 2800$ because of this cyprus scare... - and it doesn't.

The gold price is manipulated like hell.

Quote from: GotBitCoins on April 19, 2013, 03:50:10 PM

200$ is 10X that - it's absolutely outrageously high price. Surely it will collapse, and I don't know yet if when it crashes I will use my gains in order to join the 5K BTC club because frankly after such a parabola and such a crash - it may never go up again.

Remember, Bitcoin was dead, dead, dead after the crash in June 2011 - lost like 95%.

Sure, if the morons drive the price up 10% a day like they did, take their money. I did, too. Bought everything back at 64 and 54. And I am in the 5K club. Easily. So the morons handed me almost a Million $ - Falkvinge got probably way more than I got. Remember, it is a zero-sum game. That's why I am saying: Stop panic buying, stop panic selling. Add liquidity, don't take liquidity. You profit from the morons, you stabilize the price.

It's just that I am not so sure that if and when the price shall drop to say 20$ - if then I will be able to commit to the 5K club - because this is serious money still, and the scenario according to which this whole thing goes down to 10$, down to 5$, 0.5$, zip - is possible.

I keep on thinking about what Satoshi was trying to avoid - he tried to avoid BitCoin to get publicity, he wanted the software to strengthen, he was afraid of the burning match effect and thus when wikileaks asked to adopt BitCoin - he tried to avoid that saying

"The project needs to grow gradually so the software can be strengthened along the
way. I make this appeal to Wikileaks not to try to use Bitcoin. Bitcoin is a small beta
community in its infancy. You would not stand to get more than pocket change, and the
heat you would bring would likely destroy us at this stage."

GotBitCoins