put on your tinfoil hats. I think I've gone over the edge.

[Carlor]

And we believe the future value is that of severely impacting or replacing:

PayPal
Western Union
MoneyGram
WebMoney
American Express
Visa
Mastercard
Discover
Banks

If it even replaces 50% of all of those, bitcoin will be worth multiple billions of dollars easily.

This is correct. Sadly more and more people see bitcoin as "gold 2.0".
And this was never the purpose of bitcoin.

The purpose of Bitcoin is whatever we want it to be.

Ok. So there are (far to...) many people that want bitcoin to be gold 2.0. And imho this idea got more and more fans since the last ath and the media coverage. Because people get $ signs in their eyes and don't see, why bitcoin got so far.
It got so far, because it is fast and cheap and worldwide. Not because it is rare.
If these people define the way of bitcoin, the whole technology will be a giant bubble and we won't have decentralised cryptocurrencies in the future.

[wtfvanity]

And we believe the future value is that of severely impacting or replacing:

PayPal
Western Union
MoneyGram
WebMoney
American Express
Visa
Mastercard
Discover
Banks

If it even replaces 50% of all of those, bitcoin will be worth multiple billions of dollars easily.

This is correct. Sadly more and more people see bitcoin as "gold 2.0".
And this was never the purpose of bitcoin.

The purpose of Bitcoin is whatever we want it to be.

Ok. So there are (far to...) many people that want bitcoin to be gold 2.0. And imho this idea got more and more fans since the last ath and the media coverage. Because people get $ signs in their eyes and don't see, why bitcoin got so far.
It got so far, because it is fast and cheap and worldwide. Not because it is rare.
If these people define the way of bitcoin, the whole technology will be a giant bubble and we won't have decentralised cryptocurrencies in the future.

But saying that it is ONLY a currency because it's cheap and fast... is just as silly as saying it's only gold 2.0.

[Carlor]

And we believe the future value is that of severely impacting or replacing:

PayPal
Western Union
MoneyGram
WebMoney
American Express
Visa
Mastercard
Discover
Banks

If it even replaces 50% of all of those, bitcoin will be worth multiple billions of dollars easily.

This is correct. Sadly more and more people see bitcoin as "gold 2.0".
And this was never the purpose of bitcoin.

The purpose of Bitcoin is whatever we want it to be.

Ok. So there are (far to...) many people that want bitcoin to be gold 2.0. And imho this idea got more and more fans since the last ath and the media coverage. Because people get $ signs in their eyes and don't see, why bitcoin got so far.
It got so far, because it is fast and cheap and worldwide. Not because it is rare.
If these people define the way of bitcoin, the whole technology will be a giant bubble and we won't have decentralised cryptocurrencies in the future.

But saying that it is ONLY a currency because it's cheap and fast... is just as silly as saying it's only gold 2.0.

Correct. But imho it's value depends on whether it features clear advantages over fiat money. And for most people the most important point will be, whether it is cheap and fast or not.
People won't be interested in technical details (the design is definitely beautiful, but people don't even use pgp for their emails because it's to "uncomfortable"), they want to see that they can make a cheap, fast transaction from anywhere to anywhere without using a bank etc.
And right now, there are a lot of speculators who either try to make some fast money or believe, that bitcoin will be a working concept in the future.
Some people think, that people will use bitcoins in the near future to have a secure investment, away from the governments influence. This might be true, but if bitcoin doesn't work as a fast and cheap currency anymore then, this will be a huge bubble. Just like the fucked up debacle we have in a lot of existing financial sectors.

I would like to see bitcoin flourish as an alternative to the existing financial system (which it still is at the moment), not another version of the existing crap.

[Tirapon]

And we believe the future value is that of severely impacting or replacing:

PayPal
Western Union
MoneyGram
WebMoney
American Express
Visa
Mastercard
Discover
Banks

If it even replaces 50% of all of those, bitcoin will be worth multiple billions of dollars easily.

This is correct. Sadly more and more people see bitcoin as "gold 2.0".
And this was never the purpose of bitcoin.

Bitcoin can be used for whatever purpose people find it suitable for.

[C10H15N]

Real companies do real business and turn a profit.  And they then pay dividends out of thouse profits.  In the case of companies that don't pay dividends some are reinvesting all profits into growth, but the ultimate intent is to become a Blue chip dividend paying company in a mature industry.  If someone said they were selling stock for a company that would NEVER pay dividends under any circumstances then yes that would be a scam because it's value as a stock would have no link to expected future profits of the company, it would be pure speculation as BTC is.  And yes I think modern stocks get dangerously close to being scams when their value is almost entirely speculative.

You have just described Warren Buffet and Berkshire Hathaway

No dividends - pure capital appreciation. 

[Carlor]

Bitcoin can be used for whatever purpose people find it suitable for.

Of course. People can do whatever they want.
But if the restrictions on transactions don't get changed before a possible "mass adoption" it can't be used as currency effectively anymore.
And this will make it unusable as a currency as well as an investment (or gold 2.0), because it's value as a speculation object / investment stems first and foremost from it's possibility to be transfered quickly and cheap.

So, if the rules get adapted (asap), there is a huge chance, that it can be used as either a currency or gold 2.0, or whatever you want it to be, in the future.
If they don't get adapted, there is a huge chance, that it won't be anything of these but another promising invention going down.
If bitcoin fails becaus of it's restrictions and uncomfortability, people won't have any trust in decentralized cryptocurrencies. And in the end it is not about any of us who mined bitcoins in the beginning because it seemed like a brilliant, promising idea. The decision will be made by the "common man". Bitcoin has the opportunity to prove to the people, that decentralization can work, that it doesn't have to be managed by the big brother.

[Gleason]

And we believe the future value is that of severely impacting or replacing:

PayPal
Western Union
MoneyGram
WebMoney
American Express
Visa
Mastercard
Discover
Banks

If it even replaces 50% of all of those, bitcoin will be worth multiple billions of dollars easily.

This is correct. Sadly more and more people see bitcoin as "gold 2.0".
And this was never the purpose of bitcoin.

The purpose of Bitcoin is whatever we want it to be.

Ok. So there are (far to...) many people that want bitcoin to be gold 2.0. And imho this idea got more and more fans since the last ath and the media coverage. Because people get $ signs in their eyes and don't see, why bitcoin got so far.
It got so far, because it is fast and cheap and worldwide. Not because it is rare.
If these people define the way of bitcoin, the whole technology will be a giant bubble and we won't have decentralised cryptocurrencies in the future.

IMO, Bitcoin needs these bubbles, as thats what drives more people into bitcoin. Investors, venture capitalists, and more common people wanting some BTC. Even if its only to hold / speculate on a few coins, it is driving people who normally wouldn't EVER bat an eye towards bitcoin, to start taking steps to learn what it is, and obtain it.

If it stays cheap, then there will always be wild price fluctuations as it can be manipulated by people with large sums of money. Over a long long longgggg period of time, with more ATHs, and increasing value; Bitcoins will become more popular and slowly dispersed between many people. This will drive it to a high value, but it will more than likely be alot more stable, and better suited to being used as an actual currency, and not a speculators toy.

just my 2 cents.

[hyphymikey]

Well lets see. Bitcoin top in April was at $300 on the China exchange. China led this rally and it topped at $1000. Coincidence? Haha, I think not! Next correction could be $2000, maybe $5000, but I bet you it will be very very close to an even dollar amount, on the China exchange. Unless of course these whale manipulators want to just let the price rise forever without any "adjustment".

Sometimes I even go as far as to count the candles colors, and see how many in a row there are. Rarely do you see six consecutive green candles on the M15 or H1.

Yeah, the tinfoil hat is strong within me, but it has help me make good calls.

[Love_and_Squalor]

not sure if this should go here
...
I'm not usually one to believe in conspiracies, but something seems off with these price movements. then again i only took a semester of calc and i'm not to familiar with patterns of exponential growth. so Im probably wrong.  

Keep looking then take a good look at the regular markets (stocks, bonds, commodities  etc.) and get ready for a big surprise

I've pretty familiar with the forex market. its how i learned about technical/ fundamental analysis and such. I know stock markets can see bubbles and everything. but in the bitcoin market i see bubbles inside of bubble inside of bubbles.

now im just thinking that the price movement is just based on the expectation of future gain, which will be driven by new investors seeking the same.

to be honest i dont think btc will ever see widespread use. but i think it will still see phenomenal growth because people will have the idea that it has value. its kind of a weird idea, but not much different than assigning value to paper currency. depending on how you look at it a dollar is still a piece paper, but it has use as a medium of exchange. people try to argue that btc is too, but the use of bitcoin as a medium of exchange in the past month has not increased(if it even has at all!) in the same proportion as its price. new money is feeding this growth pure and simple. those who get in at the bottom profit from those who buy in after. This is why it seems like a scheme. It might not have been an intended consequence, but it is something to consider.

It just seems so strange to buy this weird intangible thing(BTC) whose current value is based on the possibility of gain rather than its actual use.