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Author Topic: Why is the Bitcoin value struggling to rise?  (Read 1662 times)
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June 03, 2012, 05:19:11 PM

Arguing with trolls is like arguing with brick wall: you can't convince either to change.  I would rather spend my time doing something productive.

Given all the hacks, losses, scams, etc., its absolutely remarkable that Bitcoin is functioning as healthily as it is at present.

I think this is a testament to the reliability of Bitcoin in particular and decentralized systems in general.  It allows failures to be routed around.

I am actually rather glad that the price of Bitcoin has been rising slowly since the crash from 30USD/BTC.  I think that it shows the bitcoin economy is experiencing healthy growth at the moment.  Healthy growth is much better than speculation in my opinion.  The fact that the price is going up even though the fundamentals of Bitcoin (i.e. the supply is currently inflating at about 7200BTC/day) shows there is growth outpacing the inflation of the currency.

The past week has been very intersting.  Watching the mtgoxUSD price and market depth charts reminds me of the supply and demand section of the microeconomics couse I took in college.  An increase in demand causes an upward shift in price.

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