

Bitcoin passes 600 - aburan28
http://bitcointicker.co/

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fat0wl
Do these numbers really mean anything? Not being sarcastic, this is a
legitimate question. When people talk about Bitcoin it sounds like unicorns.
Can you really just buy & sell & turn a profit? How does a currency inflate so
much in a short period of time?

I wish I could hear an economist's analysis rather than the inevitable chorus
of "I told you so, I'm a jillionaire now!" from Bitcoin advocates.

~~~
alaskamiller
Limited supply, excess demand.

Creates an awkward situation where no one will pay pizza with bitcoins for
awhile.

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fat0wl
Yeah but where is all this demand coming from? Do people really think it will
just keep going up without a crash?

Personally I wouldn't pay $600 for something that someone paid $5 for in
recent memory. It's like buying a stock during the peak of a bubble that's
about to burst.

~~~
ekianjo
Check the other article published on HN "why the value of bitcoin is
skyrocketing". The more people thing there is value in Bitcoin, the more it's
going to go up. I don't think the value of Bitcoin is a bubble, rather a bet
on the position of this currency in the future. A very different thing.

~~~
alaskamiller
I think it's just going through the technology curve. It jumped out of
containment from the early adopters and now it's hitting the mainstream.

To an average guy that just heard about some online investment opportunity
where you put in $500 now and you get $100 more in a few days is a dream come
true.

Here's the pivotal point: there's now energy, momentum, and attention.

The best thing you can do is establish domain expertise and market
understanding and make bitcoin work.

Or else it's going to be the next betamax. Shit, that was expensive too.

~~~
ekianjo
I don't there it's anywhere near mainstream yet. I know a number of my friends
who follow economic newspapers regularly and who have yet to have paid serious
attention to Bitcoin. It's still very much a niche, at least in the circles I
know of.

