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View Diary: Dem senators want bitcoin crackdown (49 comments)

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  •  Uh-oh, big trouble. (2+ / 0-)
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    johnny wurster, semiot

    Spoke with a friend who knows much about this stuff and he said Bitcoin is heading for (or already in) a speculative bubble.  

    Price today was fluctuating between $10 - $30 each.  Not long ago it was 20-cents, and then $8 each.  Definite signs that someone is going to make out like bandits on this, but many are going to get left holding crap-a-roo.  

    I'd suggest not getting involved unless with money you can afford to throw down the toilet.

    •  Super high beta (1+ / 0-)
      Recommended by:

      Few users means a volatile market.  

    •  Actually, the price today... (0+ / 0-)

      ...has fluctuated between $26 - $29.

      And no matter how often we repeat the oft-relearned truth: "past performance is not a mathematical indicator of future performance", we are human, and look for those patterns.

      There are too many things about Bitcoin which are unique in the world of currency - the intentional deflationary 'minting' of it, the lack of fees or (mostly) the need for them, the utter lack of a centralized controlling body, the unstoppable transmission of them across borders.

      I would be hesitant about applying the commonly accepted 'laws' of currency trading to Bitcoin.  I would also point out that I am not recommending it - it's quite volatile, and obviously not for everyone.

      But it's a helluva ride...

      It ain't called paranoia - when they're really out to get you. 6 points.

      by Jaime Frontero on Fri Jun 10, 2011 at 06:30:14 AM PDT

      [ Parent ]

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