OT: Bitcoin prices almost at record highs again

From: Lynn Dixon 
Just in case anyone hasn't noticed, Bitcoin prices are sitting at about $29
per BTC today.  Thats almost as high as the record of close to $32 a year
or so ago.

So, what are your price predictions?  Will we see it continue to increase?
 Are we almost at at the peak?

I am still sitting on a good pile of BTC myself, and I haven't unloaded
them yet.  Still not sure if I should.  Its been on a very stead climb
these past few weeks.

=============================================================== From: Matt Keys ------------------------------------------------------ I think it's obvious that it's only going to continue to rise. At the end of Dec and beginning of Jan, it was around $13/btc. Once discussions of the fiscal cliff and currency wars started circulating MSM, prices went up very quickly. Fiat currency is beginning to fail worldwide and citizens are starting to wake up and realize it. Just take a look at the G20 summit last week for proof. Another thought... what better way to get rich quick than to willingly participate in the currency war, while using the counterfeit currency received to discreetly purchase alternatives such as btc and natural resources located in other areas -- Africa and South America for example. If your country can get a foot in the bitcoin door early before the world starts using it as a currency, then your wealth would increase exponentially in a very short time all while not really doing anything at all other than printing more money out of thin air.

=============================================================== From: Aaron welch ------------------------------------------------------ Hmm... wondering if I should dump the 21 I have. -AW

=============================================================== From: Stephen Kraus ------------------------------------------------------ Until its more stabilized and not subject to regular hacking and hoarding, I'm steering clear. Not that Bitcoins are not an interesting system to study.

=============================================================== From: Lynn Dixon ------------------------------------------------------ Stephen, It's a distributed system. Can you give me some examples of how it has been "hacked"?

=============================================================== From: Stephen Kraus ------------------------------------------------------ http://www.dailytech.com/Second+Bitcoin+Hack+Highlights+Challenges+Resilience+of+Anarchic+ECurrency/article27776.htm That is just one of two instances I know of. It is a distributed system....but it has still been subject to regular theft: http://en.wikipedia.org/wiki/Bitcoin#Incidents Like I said, I like the idea of the Bitcoin, I don't trust it yet as alternative to proper investments.

=============================================================== From: Aaron welch ------------------------------------------------------ A currency is not an investment. A currency is used in exchange of goods or services. Like all currencies, Bitcoins can be stolen as easily as your wallet left out in public. The currency system itself is pretty sound (more so than the Federal Reserve/Treasury Dept), but their electronic format makes them easier to locate and steal for those with the means and the will. "Investing" in Bitcoin is a risky endeavor that COULD pay off big, but alot of people thought that about the Ginko bank system in Second Life a few years back as well. -AW

=============================================================== From: Stephen Kraus ------------------------------------------------------ I'm willing to play skeptic for now.

=============================================================== From: Lynn Dixon ------------------------------------------------------ In all fairness those hacks you mentioned were not directly related to the bitcoin system itself. They were attacks on websites that offer different services for bitcoin. The "theft" is essentially the same as not securing your online banking credentials. It is impossible to steal bitcoins unless you have direct access to a persons wallet, which is exactly like having direct access to a bank account.

=============================================================== From: Lynn Dixon ------------------------------------------------------ Investing in bitcoin is exactly like investing in FOREX. Or any other currency exchange. You really are just playing the markets.

=============================================================== From: Stephen Kraus ------------------------------------------------------ The hacks led to direct losses of bitcoins, and that currently held value higher than just swiping someones wallet off the table. Losses in excess total of $66,480,000 estimated. I cannot even think of a movie that has a plot where bank robbers make off with more.

=============================================================== From: Stephen Kraus ------------------------------------------------------ In FOREX, there is always a currency you can invest in or liquidate to help maintain risk aversion. Bitcoin doesn't share that feature yet.

=============================================================== From: Chad Smith ------------------------------------------------------ Ocean's Pi-teen... The one where they all sit around the one hacker guy and watch him sweatily type for 2 hours and then high-five and walk in front of some beautiful building. *- Chad W. Smith*

=============================================================== From: wes ------------------------------------------------------ swordfish? -wes

=============================================================== From: Chad Smith ------------------------------------------------------ Real hackers NEVER touch the mouse. They just type REALLY REALLY fast! *- Chad W. Smith*

=============================================================== From: Matt Keys ------------------------------------------------------ Today's price ... $47.96/btc