This is going to turn into another disaster.
for whom?
For bitcoin, I'm afraid. I just think that odds are this is the result of a pump and dump effort, and we're still in the pump phase. I'm just mentally preparing for the whole project to get set back another couple years.
I don't agree. Prepare for everyone and their grandmothers buying bitcoin. I have argued in other threads that this ride is substantial. There will be setbacks in the price for sure (I think -30% is possible after the hype cools down, maybe even -50% (something like $32 -> $75 -> $40)), but not in adoption. Bitcoin is useful and it's being discovered by more and more people who are not cryptonerds / weedheads.
Most of bitcoins value still stems from it's function as a store of wealth and I think it will remain so until bitcoin has reached "world payment system" status (quite a ways to go). There's nothing wrong with that.
But go ahead, proudhon, try to catch that rocket
