A lot of infrastructure is being built up but almost none of it is making money, or finished or useful (now).

Many early adopters and enthusiast are drawing on their Bitcoin savings to fund themselves and these projects.

Furthermore a lot of investment is going into the projects, not Bitcoin.

Etherium as an example sold of about 2/3 of their Bitcoins https://blockchain.info/address/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2 some of it probably sold of to minimise risk and diversify and some probably to sustain the project.


I think this is a good thing. Bitcoin, thought of as a distributed company, is investing funds into itself. This should bear fruit in future.


However this is just speculation without real analysis. So should be taken with a grain of salt, since everybody has their "theories".


Anyway good on ya Rpietila, its not easy too stay objective and make decisions based on fact when peer pressure and most are against you, wether its political views or Bitcoin price.

Personally I am as confident as ever that the price will come back up, (which is not to say that there is no risk that Bitcoin will fail)