Quote from: kokjo on August 10, 2011, 03:59:54 PM

LOL! SELL SELL SELL!

(sorry, i just had to do it)

Umbrellas for 5 BTC?

Quote from: 5grainsilver on August 10, 2011, 04:08:27 PM

Bitcoin swings 50% like it is nothing. It could be made worthless by government intervention. That is not a safe haven lol.

No gov't has global jurisdiction... yet. The swings seem relatively normal for the rate of growth and level of risk.

Quote from: viperjbm on August 10, 2011, 04:11:51 PM

USD in safehaven is accurate as compared to BTC at this point in time ... essentially safe haven meter is as follows:

low risk < little more risk < risky < very risky
Gold < Garden Insects < USD < BTC

The price right now is entirely based on supply and demand .... simply put the inflation of BTC is actually higher that the USD right now with 50 BTC added every 10 minutes ish compared to the current total. So rising prices are indicative of much higher demand, usage and speculative investing rather than the inflation of either currency.

Now this is just the snap shot in time as it is today. Once security concerns are addressed (not necessarily with the Bitcoin network itself), and the image of it being used for everyday legal things as opposed to a criminal's wet dream, and people stop looking at it as it's value versus fiat currency but instead look at it's value against actual goods and services.... then BTC will drop quite possibly down next to Gold for it's risk factor.

Well said!

How many USD are printed every 10 minutes?