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wasoxygen  ·  3773 days ago  ·  link  ·    ·  parent  ·  post: 1 BTC traded over 1000 USD

    There's no upside for me in that case.
There's ten bucks (less the cost of peanuts) in it for you. If that's not enough, you can name your price. (For the record, I am in at ten. I would consider it for $100.)

The point is, if you are bullish on bitcoin, you can buy them and hope to gain. If you are skeptical, you can still put money (and therefore credibility) behind your position and hope to gain by shorting bitcoin.

The current graph does make the word bubble come to mind. But this is exactly how it looked running up to $100. I was too skeptical then to buy in, so my money has been earning a safe 0.1% at Wachovia instead of gaining 20x.

People still make money selling tulips.