Something's Got to Give

[Lethn]

Inflation is high, but don't you think it's closer to upper single digits rather than 4 figure?

No honestly, at the rate the central banks are printing it's going to be far greater than people realise, think Zimbabwe or Weimar Republic, I guarantee you if the central banks are printing anything close to what I have in mind we'll need shopping carts or wheelbarrows to bring our money to the supermarkets.

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[dg2010]

What most seem to miss is that the BTC/dollar ratio is irrelevant in terms of Bitcoins ability to act as a means of transferring value across the internet.

You are correct but you are missing the major factor. The volatility of the price is the key point. It's impossible to run a business on the back of bitcoin based on the current market volatility. Sorry but that's the damn truth. Some people are going to win and some are going to get severely burned until the market stabilises and we start to see some real growth on the back of actual trade.

So dream on lol.

Seriously, the more time I spend on the Bitcoin forums the more I worry because there are so many deluded people it's not funny. It seems to be a magnet for crack pots living on cloud 9 and their bullshit is infectious, other less informed, but otherwise grounded people start to believe the bullshit and it's self perpetuating.

[alexeft]

Seriously, the more time I spend on the Bitcoin forums the more I worry because there are so many deluded people it's not funny. It seems to be a magnet for crack pots living on cloud 9 and their bullshit is infectious, other less informed, but otherwise grounded people start to believe the bullshit and it's self perpetuating.

Do you really expect that as bitcoin grows, all its users will be able to understand it in depth? I don't think so.
Yet, as time passes and bitcoin matures, all those people will be able to see its benefits first hand.