Bitcoin is back, baby!

[flyingpylon]

LOL... but seriously, it has made quite a recovery since the naysayers declared it dead several months ago.  Anyone still following along?  It's over $190 as I write this.

[Pointedstick]

Whoa, I should cash some out. I've never actually done this before; what's people's feelings on the best way to exchange BTC for $$$?

[flyingpylon]

Up another 26% since I wrote this... $240 today.  Looks like much lower volume than the previous surge.

[MediumTex]

Whoa, I should cash some out. I've never actually done this before; what's people's feelings on the best way to exchange BTC for $$$?

I just read about this this morning, and I think that it's probably the first of many such announcements, but apparently Target is developing a program that would allow the use of a Bitcoin debit card in its stores. 

The fees appear to be very reasonable.

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[just kidding]

[HB Reader]

What intrigues me most about btc is that it is the first currency (or quasi currency) that I've seen that is clearly designed to be infinitely divisible and deflationary.  Even the world's gold supply is inflated each year by mine production.

Whether it will ultimately thrive and survive is a probably more of a political/legal than a practical question.  Although I'm sure we will continue to see it painted in the media as the "preferred currency" of drug dealers and criminals I think there is a fair chance it will survive, at least for a time.  After all, cash (bank notes) are also a "preferred currency" for criminals. 

How or if btc ever becomes viewed politically as a real systemic threat that must be quashed by the world's monetary authorities is hard to predict.  If more and more people come to see it as a cash alternative with a deflationary, as opposed to inflationary, bias it could become much more popular and probably fetch a much higher price.  If its price in fiat currencies continues to fluctuate widely (like gold) and thus spooks many or most average people then the world's monetary authorities may not see it as a hugely serious or immediate threat and may decide to just live with it.

In the meantime, it could make for an interesting VP trading vehicle, especially if the practical difficulties of moving national fiat currencies in and out of the btc market become more clearly defined or standardized. 

This is NOT something I would include in my PP.         

[Rien]

infinitely divisible and deflationary.
....
In the meantime, it could make for an interesting VP trading vehicle,

For those who like investing algorithms, bitcoin is the perfect testing ground. With just a few dollars worth of bitcoins you can test any trading algorithm you like. The buy/sell commissions are usually in percentages, thus trading for a few dollars worth is absolutely viable.