Bitcoin $1000

data.mtgox.com

12 pointssillysaurus25 comments

Fucking Chinese are going all-in. What a pain in the ass.

Hopefully they actually use their BTC to force retailers to accept BTC, instead of just letting it sit there gathering dust like their endless swaths of vacant apartment buildings.

I'm assuming it actually is the Chinese being the reason for the price skyrocketing?

It's an alternative for those weary of pumping money into real estate (whose value is plummeting), US Federal Bonds (whose faith has been shaken as of late), or the uncertain life of being a stock broker/currency trader/gold bug.

BTC is the sweet spot of being mostly deflationary, and having a certain sense of permanence due to its steadily increasing usefulness. Its existence outside of the purview of nation states is also appealing.

Due to the one-child-per-family policy, savings accounts in China are bursting at the seams. Beating inflation is at the back of the minds of every saver, but in China it's taken to a new level.

No, at the time of posting it hasn't reached $1000 yet. Someone wants karma.

Confirmed.

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