Quote from: molecular on February 17, 2013, 11:59:36 AM

Quote from: Frequency on February 17, 2013, 11:55:42 AM

Quote from: sublime5447 on February 15, 2013, 09:32:16 PM

First let me say that I didnt read all of the post, but that I agree with arepo, in fact I have really enjoyed most of his post. The problem that he is talking about relates first and foremost to price stability. I can tell from the responses that I did read that we don't have a lot of retail business owners commenting here. This price spike has pushed me right out of the market and has friends saying that they won't use it. I have a couple friends that were looking at buying and have said no way. "I feel like I am missing out on making a lot of money, but I just cant take that kind of risk" I would not even consider taking BTC as payment for my goods at this time. I simply can not take payments in a currency that is so volatile. This is the heart of the matter. If people are holding coins off the market it pushes up price and distorts the signals. The only way for BTC to work is if it is used as money not a commodity. I find no reason what so ever to compare the two. BTC is 1's and 0's in the cloud with no intrinsic value what so ever.

Then could you please explain to me what the intrinsic value of a rembrandt painting is because its worth $30millon dollar.. Huh

That is only some paint on some paper isn't it??

Hm, this is a better example than the gold I usually bring up that seems to derail people or make them emotional to the point where the rational mind is being switched off.

Clearly famous paintings have moneyness also. It is a safe haven for saving, when money are worthless and other investiments risky.