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[Cthulhu]

It's probably just people who think bitcoins matter anticipating a big purchase.

I love the little progress tracker one guy linked for how many bitcoins have been spent to protect or release the tax records.  0 for both sides.  Nobody gives a shit about bitcoins.

[Muz]

Eh, people just don't trust it. There will be a time when people don't trust paper money, it's already like that in Zimbabwe. When people lose interest in it, it loses value.

If you want to put values on bottlecaps or finely crafted rocks, you can. Currency is just stuff that people exchange for other stuff.

Some people don't trust it, and to them bitcoins are worthless. If you give me Israeli money, I'd rather get bitcoins, because my country doesn't recognize Israel as a country and nobody will exchange or buy anything with it.

[Leafsnail]

Even if your country doesn't accept Israeli money you'd still probably be able to find someone who'll transfer it into dollars, right?

[Leafsnail]

Oh right and incidentally this was halving day!  Bitcoins are now twice as difficult to produce.  Hooray for deflationary currencies.

[BinaryBeast1010011010]

once the 21M bitcoins are reached, even with splitting there will be a disminishing number of bitcoins over time (since some will be lost).not being able to mine anymore may eventually spell the end of the bitcoins wouldnt it?

[Levi]

If it ever gets to that point, they could just start up bitcoins V2.    I think you can split them to ridiculous levels though, so I don't think it'll run out for a very long time.

[Cthulhu]

Yes, it really has no plan for the future, which further increases my suspicions that this is some kind of scheme by the creator.

You can split, and that will last them a while, but consider how that'll affect wealth.  The first few miners have hoards of tens or hundreds of thousands of bitcoins.  When we start splitting, their hoards are going to stay the same size. 

Indeed, hooray for deflationary currencies.  Or, at least, hooray for deflationary currencies if you got in on the ground floor.

[Leafsnail]

Most of the things I've read suggest the creator actually made them as a kindof proof of concept of digital currency and the cryptography required to make it work.  It later got hijacked by wannabe Galts seeking to be the new kings of industry.

[Loud Whispers]

At the same time, while being endlessly pleased at the idea of rugged individualism offered by a truly Caveat Emptor economy, as soon as misfortune hits (scammers vanishing with sacks of bit-money, exchanges getting hacked, people defaulting on loans, etc), people immediately want to form regulatory bodies and commissions to reign that sort of behavior in.  There's been people trying to literally hire the Yakuza to kill people as vengeance.

Based Capntastic predicted it

So these things are still worth a fair bit, hanging at $130 right now. Has it advanced since its last fall from grace?

[misko27]

According to bitcoincharts.com, it says they have remained rather flat. A very minor upward trend, but almost completely flat.


There appears to be a small uptick recently, but it's almost insignificant,

[misko27]

Here is my charts.

Spoiler (click to show/hide)

[misko27]

Interesting. I have no idea what that graph is of, as there's nothing telling me what the Y axes are.
I can guess the X axis.

...


I should know that. It's like maybe, Bitcoins?

[Loud Whispers]

Interesting. I have no idea what that graph is of, as there's nothing telling me what the Y axes are.
I can guess the X axis.

On the right, price in dollars per bitcoin. On the left, no idea.

[Pnx]

It's two graphs on one. The solid one shows the rises and falls of bitcoin prices with the prices marked on the right. The transparent one is the amount of bitcoins traded... I think.

[misko27]

Interesting. I have no idea what that graph is of, as there's nothing telling me what the Y axes are.
I can guess the X axis.

...


I should know that. It's like maybe, Bitcoins?

Thanks, appreciate the sarcasm.
You may notice, but please, don't act dickish because other people don't realise something. I was wondering if it was the number of people using bitcoins >.>

I'm not being sarcastic. I don't know either. What LW said most likely.

The website also has alot of tools, but I don't know how they work either...

There is one graph with median price though.