Numbers like $100 and $50 are NEVER going to happen again unless bitcoin dies. There's just no way to support it.
You sound way too confident here.
You might be proven right but your estimation of the probability is way off since it is only half the current price (little more). That is - always - possible in bitcoin, with reasonable probability simply because it has happened many times in the past, even when bitcoin was alive and well.
It's possible when the current level is wildly above the adoption curve. This $250 is a much stronger $250 than the $266 in April. And the $120 last month was desperately low compared to the curve. And then a billion Chinese people got on board.
What adoption curve do you mean?
I've never seen this curve that was low compared to $120 last month. Please draw me that line
I get the impression you are just making stuff up here on the go though.
Therefore, and therefore only, I still prefer Bitchick!
Just don't forget this is all a commodity market, this recent uptick in price says nothing in regards to increased merchant adoption, increased transactions, etc. So while this pricing level is supported, the only thing supporting it is the excitement of all the new folks piling on. There are a lot of people who are buying at > $200 who will be pretty miffed if a walrus drops a bunch of coin and they lose the sparkle in their eye for the epic rise of BTC. Same thing happened in April, huge excitement and then people were digging graves for BTC a few weeks after they hopped on board. Now we're here again with no apparent reason short of excitement. And excitement always gets corrected.
Or to be more specific, excitement is awesome for the folks who are holding, but for many there is a point where the financial reality outweighs the "moon" potential and the desire to cash out sinks in. Net result is either whales get larger or new buyers "luck out" and "buy in cheap". Reality is that after a while folks aren't going to want to purchase mBTC amounts because the cost of ownership or adoption is too high without any real benefit, i.e., there isn't much you can buy with BTC and everyone out there still pegs BTC against an actual fiat value for any physical purchase, so the BTC price will always be an "exchange" value for what the real price is. So in that case, why jump on board for your $260USD/1BTC with exchange and transfer values attached if you could instead take your $260 and go directly to *any* store to make a purchase?
BTC has not proven itself as a currency, and like previous boom/bust cycles there is a theoretical wall for adoption because there are only so many people who will "buy in" to the market. The alternative, sadly, is we see a massive consolidation of BTC into very few hands, leading to the same problems we see in the current global economy. And then people move on so that the whales can have a whale party and everyone else finds something not corrupted by the influx of massive amounts of fiat and the dreams being sold.
no its not all a commodity market, it already has the use that you can send 150 Mill worth from A to B for free, almost anywhere it the world, at will no restrictions, I'm not sure of any bank that can do that , or any other financial institution. So put all the banking systems, IT, real estate, security, etc together and give me 1% of their value and that would be way over BTC 10 Billion MKT cap
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