What's the Deal?

[johnniewalker]

Seriously? Why are Bitcoins so high? What fueled their rise recently? What does the [near] future for bitcoins hold?

These are probably all the questions people share now about the state of bitcoins. I like to check out the speculation trend every once in a while just because it entertains me. I find it depressingly hilarious that there are SO many 100% contradicting opinions backed by SO much enthusiasm/confidence.

More often than not, these speculations are based on no/weak facts. People are saying the bitcoin bubble will "pop" any day now. Is this just because they continue to climb, and people just figure they have to drop some time?

And in the long term, can much speculation even be made? Bitcoins are deflationary, so when all of them are in circulation their price can only go up. That is, unless some outside force acts (government action against bitcoins, etc). What do you guys think about this-are bitcoins truly too far to fail now? Should I just hold onto mine for years until all are in circulation? Is it possible a new crypto-currency could overtake Bitcoins either now or before they are all in circulation?

I apologize for the ranting here, but these are things that have been on my mind.

[Lethn]

*Not paying attention to thread and just masturbating over the £63 price*

FAPFAPFAPFAFAPFAPFAP


But seriously, I think above anything else it shows you just how much people hate central banks and what they do to our countries, it's one of those things where it's so universally hated everyone will immediately hop over to the alternative to prove a point and I think that's what's happening here.

[johnniewalker]

*Not paying attention to thread and just masturbating over the £63 price*

FAPFAPFAPFAFAPFAPFAP


But seriously, I think above anything else it shows you just how much people hate central banks and what they do to our countries, it's one of those things where it's so universally hated everyone will immediately hop over to the alternative to prove a point and I think that's what's happening here.

I'm with you there, but I think you might be giving the [ignorant] masses more credit than they deserve :/