I think this thread is worth reviving.
@OP: Feeling good now?
Yes I am! It only took a little over 2 months.
Told you there is no need to call for manipulation, the market will come to appreciate the qualities of Bitcoin in its due time. Curious to see that this time is coming rather sooner than later...
Despite recent price spike and all the 'bubble talk' notwithstanding, I happen to think that this asset is still grossly under-appreciated. USD 1 billion 'market cap' is within a valuation range of 3rd tier technology companies such as Netgear, Evernote or Liquidity Services. And this is only if you consider BTC a 'non-traditional startup', mostly valuable for the talent of people working for it and its partners network. Which is only a small part of the story, Bitcoin's desruptive nature, its potential to revolutionize or make obsolete a whole set of industries not even starting to be reflected here.
The people calling it a bubble, especially top of the bubble... well, I hope they can live with being ridiculed for this very call for the rest of their lives.
Manipulation is a nebulous concept when it comes to bitcoin. I definitely think many of the weak hands have sold to the heavier hands. We've had a lot of volume. How many heavy hands ran the market, it is hard to say.
I actually still have most of my coin and will do so unless something fundamentally changes. I came to the realization that fiat currencies derive trust from government backing, and bitcoin derives trust from utility and scarcity. Utility and scarcity are much more powerful as a currency facilitator, so bitcoin might actually have a chance.
I agree with your marketcap comments. $10B would be a good starting place for a bludgeoning currency.
Maybe some hedgies can get us to $10B in six months.
