This is crazy, its rly pure speculation, bc everyone prefers Euro/Dollar over Bitcoin for paying bc u can pay everything with it and just a few stuff with Bitcoin.
I am not long into Bitcoin now, but i now understand that it is just pure speculation, bc everyone wants to get rich with Bitcoin.
They saw the last year Trends, and hope its going on 100% 1000% 10000% to get rich.
And aslong as peopel hope to get rich they invest and invest....always new peopels will invest, but its rly dangerous.
The question is will the wannabe rich fools overwhelm the already rich peopels when they cashout.
The rly only reason why 99% of peopels buy Bitcoin is speculation ( the dream to be rich), but dont forgett the whales can cash u out everytime they want, they can pump and dumb u easy ( they win u lose).
U all are talking about, Bitcoin is so cool bc no Banks.... no goverment bc they are so evil........ but u dont understand that Banks are still saver then Bitcoin, Dollar and/euro cant drop 1000% but Bitcoin can, and the Bitcoin whales can pump dumb whenever they want( and they earn more and more Bitcoin with it).
Reculations are good, or u rly like the pump and dumb Groups, the market Manipulation and scams, all that runs out of the row.
And bc Bitcoin has max 21million coins, u ever thought about that someday only a few whales own 90% of them?
When a few rich guys own 90% of them u know what they do with u ya? They cash u out whenever they want wherever they want, as Long as u dream about being rich.
Bitcoin is just a chain of peopels who want to get rich, and the peopels at the end of the chain will lose everything they put into Bitcoin.
First, whales can't "cash you out" unless you panic dump for losses.
Second, what if the people at the end of the chain are the laggard end users when 1 bitcoin = over 1 million usd? what makes you think bitcoin will reach some amount only to crash and burn forever? give me one solid piece of evidence in the price charts that would indicate this would happen.
Not everyone is a winner though. I am sure there are many who lost their asses buying at highs and panic dumping in the lows, losing 50%-90% of the money they initially spent. There are many who lost their asses sending and buying to/from mt gox.
You have winners and losers from day one till now and this will continue for many years. It is the buyers choices that dictate which he will become, it is not up to anyone else.