[triptychs]

Saw it at $600 today and sold mine too. Made enough to pay rent, not to mention the other odd things I've gotten with my BTC over the past 2 years... it was fun, but I think I'm done with it.

I'd also like to know who is buying IN at this point. Anyone on HN have some insight?

[cbr]

    I'd also like to know who is buying IN at this point. 

People who think bitcoin has >2% chance of becoming a major world currency? http://www.jefftk.com/p/bitcoin-exchange-rate-as-a-predictio...

[davidw]

Greater fools: http://en.wikipedia.org/wiki/Greater_fool_theory

[BlackDeath3]

I bought about a week ago. Of course, it was at $315 then, not ~$600. I'd like to buy more, but I'm not made of money.

[TrainedMonkey]

If I were you I would be very carefully looking at who is buying those things. If there is no large institutional holder or significant amount of new users - current bubble is another speculative bubble (who could have guessed?).

TL:DR bitcoin always went through successively larger bubbles. Without very hard evidence I would believe that current price is result of bubble as well. Also, is there a reliable way to short bitcoins?

[BlackDeath3]

I realize that it's all speculative and likely bubbling and all of that. The difference is, not only do I treat this as an investment/speculation (and it's not like I'm betting my life savings on BTC), but I also understand (to a certain extent) and believe in the technical merits of it. I'm not just in it for the rising value (although I'd be lying if I said that wasn't enticing), but I actually want to see this succeed.

[wuliwong]

What does "result of a bubble" mean?

[TrainedMonkey]

Means people are buying bitcoins not for their inherent value, but rather in order to sell them later at a higher price. When this happens everyone is waiting until value top's off. Sooner or later moment comes when some portion of holders decides to sell. Other people see price dropping and try to sell their bitcoins as well causing bubble to burst and price to drop significantly.

[mcdougle]

yeah it's looking a lot like it did in April.....

[plainOldText]

How about buying Litecoins? Less than 24h ago it was 1 LTC/$4, right now 1 LTC/$7. You could have almost doubled your money in less than 24h.

People say the Chinese market is driving the LTC prices up. And LTC is not even on MtGox. Imagine how much the prices might go up when it will. :)

[BlackDeath3]

Really? Damn! I was thinking about buying a couple of days ago. I think I actually will do that.

Assuming you've bought some yourself, where would you recommend buying?

[plainOldText]

Deposit btc to btc-e.com. Buy litecoins using bitcoins. Then store them offline in a wallet. :)

[BlackDeath3]

Any advantages that Litecoins offer over Bitcoins? As long as I pride myself on being somebody who bought into Bitcoin for more than its fiat value potential, I may as well be consistent and understand Litecoin as well.

[plainOldText]

From a technical perspective see here: https://litecoin.info/Comparison_between_Litecoin_and_Bitcoi...

[dan1234]

I bought 0.1BTC last Wednesday for £25.85. I thought I might have overpaid for it but, at the time of writing, it's now worth around £40.