Everybody is aware of "blow-off top" or bubble scenariosso a general 'captain obvious' warning is unimpressive, IMHO. Calling a top via a specific time or price is impressive, IMO. **Stella Concepts sold about 2000ounce of silver when it hit around $48USD/oz in 2011 then announced it on his YT channel. He immediately received numerous vulgar insults & scorn via his YT channel comments at the time from silver stackers.
I'm not buying. But I am pumping up my Coinjar account with AUD. I did the calculations - to send a wire transfer in USD from an Australian bank to a BTC-E account is only about 5% cheaper than just buying BTC direct from Coinjar (when you calculate Coinjar's commission). It's the exchange rate that really screws you over (they want 0.87).
And the Bitcoin elevator keeps rising ... just punched through US$1100 on Mt. Gox, now trading around $1110-1115.
wow, I swapped a 10oz bar for 13.2 bitcoins a while back and got spooked when it first spiked to $250odd, sold out most then for credit cards and bunnings vouchers. I also had 3.2 stolen in an exchange deal for silver. I made some money on BTC and may get back in one day but hey good luck to anyone that stayed the distance.
This is the problem, I mean you buy at a good price. Say 1-3 bucks. When it starts going to $250, I mean most people would have cashed out or cashed out the majority of the bitcoin stack. If you held onto some, At $500-600 or even $800 I'd say you would most likely be completely out. Who would actually try and hold out and sell at the complete top? When your seeing gains of 100 times, you start to flog off (if you havn't already) your coins to lock in profit. The only exceptions are ones that buy and forgot that they had any, or the ones that don't look at the price and keep mining. These are the guys that are in the massive profits. I mined 1 litecoin in April, the price back then was $2-3 bucks. It took me 2 days looking at the transaction logs. I just left it. Today its value is $40. Lets see if I can pick the top and sell the coin. Lucky I found the wallet.dat the other day lol. Slam
I used to think $1000Ag was silly delusion on behalf of uberbulls... nope no longer, when people really want something, reality does not matter [youtube]http://www.youtube.com/watch?v=s7IYR_rELyE[/youtube]
Have a look at the bitcoin rich list - the number of wallets that have not been touched since 2011 with $10m USD+ in BTC in them is astounding. Slews of wallets with 10,000 exact balances that are probably paper wallets that have not been touched in 2+ years. Just hoping there's no-one on the list who lost their password like that poor guy in the UK who just realised he threw out a hard disk with 7500 BTC on it a few months ago.
I don't think that column is accurate, click on an address and the last transaction is different to the chart
Not that you can ever know, but I wonder how many bitcoins that have been mined are actually usable, i.e. haven't been thrown away with old HDDs etc. I reckon this guy wouldn't be alone.
I've seen an informal register a long time ago where people could list coins lost to the ether. Quite considerable amounts have been lost over the years!
BTC hit US$1242 on Mt. Gox this afternoon - but has fallen off to about US$1190. Current gold price is US$1242.
I think a time will come when (quantum) computers so powerful, we could barely comprehend them, are developed for the sole purpose of guessing & matching an unknown pass phrase, with an unknown wallet code to unlock lost coins in the block chain. It would be akin to the massive multi million dollar deep sea salvage operations, launching robotic deep sea submersible vehicles from 500 ft exploration vessels, in an attempt to bring to the surface long lost shipments of gold & silver that have been sitting, waiting at the bottom of the sea.
