Well... it's one of the two. Personally I think this can't really be sustainable. But then again, I'm not that good in predicting things. And of course there are now two camps of people. The ones that predict a bubble and the ones that say this will last. Both groups scream their opinions equally loud and I don't know who I should believe.
What's your opinion?
You have to realise that most of the people who say this will last have very little grounding in reality. Conversations quickly degenerate away from the fundamental economic side of things into the sociopolitical or worst....like the sort of science fiction post human reality bullshit which just screams CRAZY.
Now I'm all for Bitcoins progress, but we have to take a pragmatic view, there is an interim period between now and the ideal goal of true monetary freedom, and these sorts of bubbles are simply not positive in any way for the future of Bitcoin. The latter camp stick their head in the sand and ignore the issue believing that they will reach the end goal regardless.
The price of Bitcoin is far too volatile at the moment. I honestly believe that we are hanging on a knife edge. There simply isn't enough actual trade going on to sustain these kinds of growth figures and I worry that a large number of people have bought into Bitcoin the past few months who will not want to take a huge knock and will start to sell at the hint of a drop off.
