Why did you buy bitcoin today?

[CryptoGuy2014]

Bought at $448 this time.

Last drop from Gox news, I bought at $438 and then sold at peak of $693.

Hoping for a repeat...

We shall see

[Swordsoffreedom]

Bought at $448 this time.

Last drop from Gox news, I bought at $438 and then sold at peak of $693.

Hoping for a repeat...

We shall see

Yep that's Bitcoin the thing I'm more worried about is a catalyst event after the fall

Tends to happen in the long run with bitcoin rises and falls goes into a stagnation state drops and drops for a while then it rapidly rises
Not that I trust patterns to repeat themselves but it looks to me like it is one of those long haul ones reoccurring

We shall see

[zolace]

This is bad that we have more traders then people who will keep it for savings im one of the few that are saving mine.  While many are doing trading and causing price fluctuations.  Traders are kinda hurting bitcoin I believe.

[which2say]

I am an adventurer, I like adventure so buy bitcoins.

[zolace]

I bought today, cause I love to spend bitcoin online, I dont use it for trading.  Also love to play online games

[spazzdla]

I hate the idea of debt as money.
Friend informed me of bitcoin at $70 and pleaded with me to buy.. I considered, tried, got over whelmed.. hear about it again when it was $550..  I bought lol and became obsessed ... ya.. Go bitcoin! lol.

I read this wrong..

[ebliever]

I made my first BTC purchase (apart from mining revenues) a few days ago. Based on my rudimentary grasp of economics, the value of something like bitcoin is a function of supply, demand and velocity (how fast bitcoins are changing hands).

We all know the factors driving prices down for the most part - China rumors, unhappiness with IRS regulations. On the flip side every day new businesses accept it, word of mouth spreads, more ATMs are deployed. Things like Gyft cards for Walmart with BTC purchases will drive increasing adoption of BTC.

But it also drives an increase in the velocity of bitcoin, which (I think) would tend to drive prices down. I haven't seen anyone comment on this, and I'd appreciate someone more knowledgeable than I giving their views on how an increasing velocity of BTC would affect BTC pricing. Also, is the velocity really increasing? Are there any stats on this?

I think the IRS and China factors are overblown. Everyone sensible already knew the IRS would announce rules on BTC at some point, and the rules issued are not much different from what would have been expected. People will adapt. Likewise bitcoin is hard to contain/wall out - Chinese will adapt and find ways to use bitcoin with or without official sanction. There might be a few additional hurdles to jump, but they will find the most efficient way and use it. In the meantime BTC will continue to grow globally.