Tell HN: Bitcoin is about to break 10M market cap mark.

19 points·eof··12 comments

bitcoinwatch.com is probably the best place to watch.. probably will happen before midnight.

Been a crazy rally.

20% appreciation in a day. That's definitely a bubble.

Or it is the hockey stick end.

Guess we will have to find out.

Everybody is worried about bitcoin being a bubble, constantly.

I suspect if anyone tried to convert a significant amount of bitcoins into ordinary currency, the value would plummet. Also, comparing the value of one "bitcoin" to one USD or EUR is meaningless.

How is it meaningless? There is an active trading market where people are trading BTC and USD back and forth.

It doesn't seem different than comparing one "dollar" to one "euro."

Perhaps he's referring to the expected elasticity of Bitcoin, but you're right, comparing anything to the dollar is perfectly valid, but making comparisons and liquidating assets are two different things.

Dollars and Euros are currencies. Bitcoins are collectables.

Even though that is patently false, even if they were only "collectables" then you could still tie them to a dollar/euro amount.

Anything over $1.67 USD brings the "market cap" for the 5.991M BTC (money stock at present) over the $10M mark.

Currenty intraday high of $1.70 so 10M has been breached.

This morning Bitcoin reached parity with EUR ($1.45/BTC).

This afternoon it reached parity with GBP ($1.65/BTC).

Insane. http://bitcoincharts.com/markets/mtgoxUSD.html

Can the title still be edited? Over $11.5M at the present moment.

There's so little supply that to buy even just a few thousand bitcoins at this point runs the price up 10% or more.

someone is buying everything they can at 1.95 right now

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