A lot of talk about bubbles right now, and to be fair I'm not surprised, look at the rocketing growth right? But think about it, with the strength, vitality and possibilities of this idea, bitcoin should be worth at least $1000 a coin. Frankly it's probably worth at least $10,000... this is why I think so:
The legs on the bitcoin can carry it all the way to be a major force in the economy within ten years, and as there's only 21 million of them a global market worth billions of 2011 dollars in bitcoin will need a single bitcoin to be worth thousands of 2011 dollars. Ideas this groundbreaking are not free, they are expensive. If bitcoin makes this much sense, you should need a mortgage or a loan or something just to buy one. We're ahead because the world hasn't noticed yet, but it's waking up and we can see the effect in the up-changing value of btc.
I'm not trying to talk the market up, honest, this is what I actually think. I won't try to talk the market down either in the hope of buying more because I am a loudmouth and won't keep my goddamn opinions to myself. And I don't think bitcoin is bubble-proof... I think it is very doubtful however that a major bitcoin bubble could form before 2013. Everyone knows that on that date bitcoin will become twice as expensive to supply regarding capital costs. When the bubbles do start to arrive (from sectors that have adopted bitcoin booming and busting for their own reasons) I doubt the bottom-outs would be less than a couple of grand.
It's like the housing bubble, it didn't happen because people suddenly lost faith in houses, it happened because the credit used to buy housing collapsed like the house of cards it all was. It was actually a debt bubble. Happily people aren't taking out loans to buy bitcoins and never will need to. If $100 dollars is all I have to spend and buys me 0.001 bitcoins, then that's how many I would buy, I am still saving my money and gaining additional buying power relatively quickly and that's the main thing.
The launch of that new and exciting but poorly named stock exchange (GLOBSEX?) is to me a further signal that we shouldn't think current bitcoin prices are realistic. Anyway these are just my thoughts, so tell me if I'm wrong.
I think bitcoin is still 10000$ and this valuation of bitcoin is of inflated one which is rises in the last week by 20% and this inflation in the valuation has encouraged millions of people to again invest into bitcoin and I too know that bitcoin has that potential also that its valuation could also inflate to much higher values but in present people consider bitcoin a bubble that is not trust worthy and could burst any time and moreover governments and media are also demotivating people from investing into bitcoin and thus the valuation remains low.
