I believe BTC should be in the $150 range. There is nothing to support any higher of a price.
What makes you say that?
Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.
Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.
It seems like your $150 valuation is pure fantasy as well. It is magic internet money, why should it be worth even $1 until someone has built an exchange that does screw up like gox? Or until we can use it as money with virtually no volatility?
We're buying for the future. If 50 years from now it's the backbone of the finacial system and worth a million dollars each, then yeah, $600 bitcoin today is a pretty darn good investment. Not to mention, we buy it today at the price of today to give early adopters who are also often the people building things, more capital to invest into their projects.
Exactly! Hi, Nightowlace. I sense your frustration, and I understand that the comments, and the big price swings can make it seem like everyone is both 1) and Asshole, and 2) is making money constantly. I don't think that's the case here. Rather, we are mostly here (IMO) because we understand that the current banking system is broken, and cryptos offer a way to: 1) increase efficiency in that system (it is *OUR* system, ya know-- its *OUR* money); and, 2) get the banksters away from fucking up the entire universe by over-capitalizing the world... you know, taking pensions from everyone, eating up good companies just so that can buy and chop and resell the financial parts of it, etc etc etc.
If you want to get a historical perspective, why not start looking at how P2P is revolutionizing the post-industrial world (to me, the *most* fascinating part of our current history)?
Rabbit is right, Bitcoin is not just some company, its the poster child for cryptos, which *will* become a mainstay of a great multitude (actually, *all* if you go far enough forward) of financial transactions: from micropayments, consumer transactions, remittances, domestic and international commerce, and government funds. Yeah, there will be others. But right now, the first baby (you know, the one that was borne of mama internet and daddy money!??) just came out of mama, and its *not* blue. In fact, it just cried when it went to the Senate yesterday! You know what that means!??! It's ALIVE!
So, do I think that's worth more than $150 bucks!? You decide. A baby today, tomorrow, the whole world.
