Guys we must admit... how can this bitcoin become the new revolutionary ecurrency if it loses 40% of value in a few days? The BTC protocol is not as robust as some of the up-and-coming coins. Additionally, the BTC consensus has led to monopolized mining. I am not sure what to think at this point
Bitcoin is in its infancy and it isn't a currency although it may be seen as one in the future.
Look at it like Gold during the Gold Rush. Gold was volatile, never a currency yet accepted as payment, and still is.
You will note that, once Gold stabilised, post Gold Rush, USA used it to secure the dollar.
At present its definitely a commodity with currency properties. Once the masses start to use it, and that maybe a while and the price will be a lot higher and volatility will be lower then it will be a currency.
So, in summary, we are buying bitcoin in the hope that the value will rise to that required to be deemed a currency and, in the meantime, its true speculator heaven because of its volatility.
Hope that helps and
P.S. I am in for the long term but if i can sell on a drop and rebuy on the net rise and make 10 -20% i will have a lot of fun trying and be very happy
