Guys!!
I see a lot of discussion about the price of Bitcoin... Desperate people, thinking that is the end of the world the price of Bitcoin fall and fall but... What intrigues me is over:
Why is the price rise so quickly in the first place ?!?!?
The only answer I have in mind: The price of Bitcoin rise because the two U.S. senators have discovered about it and about Silkroad and they decided to try crack down the network... All parrot stuff... Media etc and etc... BOOM! The price went up... But in fact, the price was not worth much and, apparently still is not.
So my curiosity is: What would it cost the Bitcoin today if this had not happened a few months ago?!
That is, the trend should be the price of Bitcoin go back to the levels before this news, since the Bitcoin economy is not really prepared to be as valuable as they say it is worth.
Thus, the Bitcoin value will going back to be more valuable in the future, maybe in a couple of years, or before, but everything will depend on the reformulation Bitcoin client, so it should be much more friendly and safe (backups, automatic wallet encryption and etc.) and especially , in global acceptance of Bitcoins for goods and services.
We still have a LOT of work to do!!
This is just the beginning. We shouldn't fear the Bitcoin price these days...
Lets work more and talk less fellas!! COME ON!!
The Bitcoin needs more developers!! C coders, Python coders, GUI design builders, a libbitcoin detached from the GUI, wallet encryption per default and automatic, more rich and user friendly interface, a web panel to your local bitcoind... And most important, a democratic development. Not this democratic we have in politics... A REAL open source democracy.
Best,
Thiago
+1
And I'll elaborate:
I guess that some of you are following the progress of Safebit, so some of you know that I'm raising funds to make really something out of it and not leave at a "open-source bitcoin wallet" status that most of the wallets out there are stuck on.
During the last couple of months, I've started meeting with very interesting people in the world of finances and high-tech, and I'm very surprised at how far and wide the idea of Bitcoin has spread.
There is only a handful of people in those areas who haven't heard about bitcoin at all, they may not know it by heart as we do, but they are listening and looking, following the progress.
I'm talking about Fortune 500 companies, venture capital, angels, financial companies, and technological companies. Everybody seems to know about bitcoin.
Their take on the idea itself is as varied as we see here on the forums, it seems that some think that it's passing fade, others are sure it's the next best thing, while some think that's it's like the Napster and we're still waiting for our Bittorrent (which I disagree with, because Bitcoin is already at the Bittorrent stage imho).
What most of the people here think wrongly is that this forum is any indication of what's really going on. There are numerous start-ups and entrepreneurs out there trying to make Bitcoin the big success that we all think it could be, and there are business people who are putting money on those ideas and people.
Currently 90% of the development we see in Bitcoin is catered by developers who invest their time into it without seeing a coin out of it (well, not true in this case, but you get the drift), open-source is sweet and all, but you can't build businesses and economy around open-source and free developers, it just doesn't work.
Soon, 6-or-so months from now, we'll start seeing high-quality work coming out of those not-free developers, where high-end products will start to dominate the Bitcoin landscape and bringing in more and more outsiders that would take interest in Bitcoins' great features and the fact that you don't need to pay for transactions of any size, and the fact that Bitcoin is unregulated and extremely hard to trace, this especially will cater to black-market, which is part of any market, and also porn. It's not coincidence that porn were the first businesses we saw using Bitcoins.
We all know that Bitcoin has boat-load of advantages over the existing monetary system in terms of transaction fees, regulation, and anonymity. We are all here because of those feature, and it's interesting not only us, but everybody around the world. Most just haven't heard about Bitcoin yet.
The price of Bitcoin does not reflect anything, it's pure speculations. People are making a lot of money by playing with the price of Bitcoin, but for now the only things that people are buying with Bitcoins are USD and drugs, but that's going to change soon with the advent of high-quality developers backed by high-equity funding.
You don't have to believe me, and I even may be wrong, but just wait. And for those who are selling their coins because of the fear - I say good! at least there are buyers
