Can someone tell me how BTC is going to the moon when it is still relatively difficult to acquire in the first place? I imagine there are a lot of people who think Bitcoin is really cool but don't get involved much past playing around with the small amount of BTC from the Bitcoin Faucet. Given the difficulty of acquiring BTC, I think the fact that BTC made it to almost $2 is amazing in the first place.
Bitcoin is getting easier to acquire every month. I imagine this trend will continue, accelerating adoption. The more bitcoin usage there is, the faster it grows, at least in these early stages. This is the definition of exponential growth.
Yes, Bitcoin definately benefits from the 'network effect'. The more who adopt it, the more the meme is spread. The more the meme is spread, the more who adopt it. And the more who adopt it, the higher the price tends to go. The higher the price tends to go, the more secure the system becomes. The more secure the system becomes, the more faith current users have in the system. The more faith the users have in the system, the more that each is willing to risk in the system. The more that each user is willing to risk in the system, the more valuable that bitcoins become.
I expect this to continue until Bitcoin reaches an equilibrium of new users versus users leaving, at which point it will either be mainstream and stable, or an epic failure.
