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Silk Road Discussion / Re: BTC<->USD exchange rates and currency fluctuation in regards to purchasing stuff
« on: December 18, 2013, 10:42:22 pm »It could be at $300 tomorrow, that'd be awesome and I'd be buying for sure. When it gets to $500 (as it has during the last couple of 'bubbles') you'll have tons of people buying and I think that's what stabilizes the price though I could be wrong. You also have what's going on in China causing instability, the fact that Mt.Gox and Coinlab are going back in forth in court (which has been on going for months) there's a lot of reasons for the volatility. I do however believe BTC is here to stay, at least for now and for the foreseeable future and I think that over time, even though it's volatile on a day to day basis it'll continue on a general upward trend. BTC maxes out in value at $10k per coin...good god almighty I couldn't imagine such huge prices. When it begins getting up that high I believe you'll start seeing litecoin come into the picture more.
Hi mate some good points. However Bitcoin does not max out at $10k. It could theoretically go a lot higher. Here's hoping
Also Litecoin and other crypto currencies seem to ride off the back of BTC. They have risen and dropped in tandem with BTC.