Potential... that was my point -- that in a discussion about the present-day utility of bitcoin, unrealized potential does not apply.
Isn't that just about the
entire point of
speculating in something? You hope that the future value will be higher. If the potential was fully realised now, that would not happen.
That's when it's time to sell.
Any discussion about speculating in price movements has everything to do with unrealised potential as compared to present day utility.
So you admit that BTC has unrealised potential then?
Ding ding ding... time to buy.
I think we are speculating on different time frames.
All that needs to happen is for the risk of confiscation to outweigh the risk of bitcoin price fluctuations. Someone just has to believe that the risk is real.
But
why bitcoin -- from a layman's perspective? That you and I see the benefits does not guarantee anything. There are obviously many options to hide / store money besides bitcoin. You make it sound like the Cypriots themselves probably bought up the bubble to 266.
Speculation is counter productive and wrong. If everyone just tried their best to use bitcoin and tell others about the benefits, we would all make way more money than by speculating.
but how would we ever have attracted the userbase and development we did without the profit incentive that high prices wrought by speculators brought?
just let the market do its thing
This. You can't stop speculation, you just need to roll with the market.
Personally, as far as encouraging people to get involved... While I enjoy discussing bitcoin with people that don't know about it, I must emphasize the risk involved, not only re volatility and the recent bubble, but also the tense regulatory atmosphere and potential for government interference, as well as what the quasi-regulated and unregulated economy means to them -- the lack of recourse they may have when when accounts are hacked, shady companies run off with their money, people defraud them, etc.
Yes, this pretty in the same way ,it might lose its value 50% in two weeks and also had chance to get increase its value by 50% in two weeks.
For some extremely countries like mentioned above ,those people if they know there are alternative way as BTC,they will ignored the price fluctuation ,because they have no other better choice ,Gold is too high weight and can't be cut into small amount, currency either not secure ,it may losing value more quick than BTC.
No, it is not a 50-50 shot. It's not just "buy, buy, buy." And where do you get the idea that
people will perceive bitcoin to be the best possible choice? Why is BTC not skyrocketing in prevalence in Argentina? Because people want dollars.
The market doing its thing is what causes the cycle of financial crises and wars. If everyone would just buy, hold and use bitcoin for everything they can, the price would already be much higher and even more people would be getting into it now. People think they are making money selling "high" and buying low, but its peanuts compared to what an army of dedicated believers could accomplish.
That is a very unrealistic hope, though. Until this market matures, the "army of dedicated believers" bit is irrational and will be perceived by many as such. People want to maintain or grow their portfolio -- you can't simply expect people to hold when they perceive the value to be in decline, particularly when much of the economy is comprised of speculators.
Now its panic buy instead of panic selling. haha
I think we may have seen the top here... maybe a couple more pushes into triple digits, but I don't think it will last. Starting to see sell pressure and not from whale dumps. I didn't think we could break out for long above 100, but we'll see. I think if the whale continues to push the market up, he is definitely playing with fire at this point.
