Quote from: proudhon on April 08, 2013, 03:46:12 PM

Quote from: chiropteran on April 08, 2013, 03:36:01 PM

The price was $145 yesterday and it's $194 now. That is a bubble pop?

It's gotta start somewhere. This price has got to be too tempting for a large number of early adopters. Once enough of them decide they want to pay down debt, the price will be lucky to stay in the double digits. Anything above single digits is just too fragile. The depth of this market is still tiny and the price wouldn't withstand more than a few dozen (at best) attempts to buy a modest house within a short period.

Bitcoin might have a chance, but a good number of early adopters will need to divest themselves of a large portion of their holdings, and that will cause another catastrophic price collapse, which will, hopefully, last years and allow developers more time to mature the protocol. Then again, it's uncertain now that bitcoin will recover from the coming collapse given that it's going to turn a lot more people off this time. The next few years will be interesting to watch, that's for sure.

Bitcoin frees you from debt, why would you ever want to sell it back for debt-based money?