How you know you’ve made it.
Caught this today:
For immediate press release:
Bitcoins seem to be slowly rising from their doledrums. In the last 30 days the price of bitcoins have rising, from nearly crashing below $3 before slowly and steadily rising, just touching above $7 today. What’s going on, what’s driving this increase and what’s going on in the next week for bitcoins?
I have 3 theories myself:
1) People cashing out bitcoins after starting up school again. No time to devote to mining anymore, cash out and spend the cash on books and supplies. The price rise is normal buy-back from people still in the game.
2) Cashing out bitcoins for holiday spending. The end of the year cash crunch means that many people could be selling their bitcoins to buy Christmas presents. Price tanked around October though, which seems too early for that. Price increase was people buying back their coins.
3) Bitcoin is just being the volatile cunt it always is and who know why the fuck the price tanked.
Option 3 seems the most likely option. What’s interesting to watch out for is the upcoming episode of the hit CBS sandy-vagaina show
We’ve been nominated for Best Bitcoin Blog for 2011 in the BitcoinBetas.com Bitcoin Awards! Go vote today, they don’t give participation awards.
A bitcoin user found the best use of his anonymous crypto-currency was to purchase medication from Craigslist. It went about as well as one can expect buying: nearly dead, lying on the floor in the bedroom of your studio apartment gasping for air and cursing the feds.
Someone decided that the only thing Bitcoin needs to revive it’s slow and torturous death is a little publicity! What better way to advertise then radio tv a cheaply made flyer to plaster around your neighborhood. Fortunately, not many people took him seriously and instead our friends BitcoinPorn decided to do Buttcoin a little honor in making this poster for me.
What do you think? Let me know in the comments below.
Ars Technica had a great article on Bitcoin’s latest crash, and instead of reflecting on what this means to the community and the possible coming age of stability of the currency, they decided to tear down this website as being a shill for the Fed and accuse us of trolling Bitcoins and causing all the problems.
The jig is up guys, we better pack it in because we’re shills for the Fed, being paid in Mt. Dew and Bugels
Also, what’s up with that “penis” spoiler tag?
HAI GUYZ DO YOU LIKE WORTHLESS CURRENCY??
Bitcoins have dropped from a stable $4 to nearly $2 in less than 24 hours.
As of this writing, Bitcoins are actually a bit lower than this graph, around $2.25.
As you can see, Magic The Gathering Online eXchange promptly shit itself over the news and is sputtering useless graphs out. That graph looks rather fortelling.
Bonus graph: