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Bitcoin Currency Surpasses 20 National Currencies In Total Value
Velcroman1 writes "More than $1 billion worth of bitcoins now circulate on the web – an amount that exceeds the value of the entire currency stock of small countries like Liberia, Bhutan, and 18 other countries. Bitcoin is in high demand right now — each bitcoin currently sells for more than $90 U.S. — which bitcoin insiders say is because of world events that have shaken confidence in government-issued currencies. 'Because of what's going on in Cyprus and Europe, people are trying to pull their money out of banks there,' said Tony Gallippi, the CEO BitPay.com, which enables businesses to easily accept bitcoins as payment. 'So they buy gold, they put it under the mattress, or they buy bitcoin,' Gallippi said."
And when that happens you'll all wish you bought 1000 coins for a few cent. Now look at you all rushing to pay $100 per coin. By this time next year it will be $1000 per coin. A year later it will be $5000. Then 6 months later it could be $20,000, then $100,000, etc.
You act like the transition away from gold backing was on purpose rather than the US going bankrupt.
If you understand how it's designed, it will never again go below $50. It will probably rise to $1000 by the end of 2013. And by 2015 it could and probably will be in the tens if not hundreds of thousands.
So those who put their entire life savings into bitcoin, those who will put $100,000 or so in today will be millionaires or perhaps even billionaires a few years from now.
Hahahaha, buttcoins at $1,000? I'd love to see it hit that if only to enjoy the sweet sweet libertarian tears when it does pop and drop to $2.00