Quote from: God Donut on November 02, 2015, 09:57:49 PM

Quote from: eatmyshorts1 on November 02, 2015, 09:48:28 PM

Quote from: God Donut on November 02, 2015, 09:45:13 PM

so is this just a bubble all over again or there's some solid reason bitcoin should grow in value?

It all depends on the amount of wealth that needs to be stored in btc. The more wealth in a scarce commodity, the higher each unit becomes valued. If it becomes the new 'gold' in terms of storing wealth, it will shoot up accordingly. If it does one better and becomes even a moderately frequently relied-upon currency as well as a store of wealth, then it should have a justifiably higher price than today.

I doubt bitcoin is going to become a new gold. Its too volatile. Bitcoin is great to transfer value all over the world and be anonymous about it. Was hoping this price climb we observing right now is the consequence of people finally realizing that bitcoin is awesome in terms of value transfer

I agree with the first part of your opinion that bitcoin won't become new gold. Simply for the fact of how complicated the usage of bitcoins still is for an average Joe. There is still a lot to be made in order to make the entire process of involving non-enthusiast into Bitcoin. As for the second part, I believe the growth of Bitcoin price recently is purely speculative. THere were no significant changes when it comes to adoption, no news that potentially be a turning point. That is way I am rather sceptical to think about this rise in any other category as pure speculation.