Did you loose the train?

[Erdogan]

You did not, it is going to continue.

Here is why: Bitcoin value is determined by the number of users, and the value that each user wants to hold in bitcoin (for day to day trading for consumables, or for saving). Nothing else. Not GDP, transaction volume, mining cost, value of existing capital goods nor durable consumables.

Do you think number of users will decrease or increase? Look at the Internet buzz, and the interest indicators from google analytics. Think about people in Africa and India, and the near-hyper inflating countries Venezuela, Argentina and Brazil. Billions of people need bitcoins.

Do you think each user will aquire more? Bitcoin, a money system designed to keep its value, such that you can defer spending for a car (for instance) as long as you don't need it, then buy it later for the money you saved. Or dollar, a money system designed to depreciate 2% per year in consumer prices, but which depreciates more if you include stock prices and house prices. (The value of the money is the inverse of all other prices).

Do you care about a non-devaluing money is not good for society? This is a bogous theory held by the elite and some intellectuals. Read all about it in the economics section in this forum. Besides - you have to think of yourself primarily, the banksters do.