Quote from: botlove on April 11, 2013, 08:02:18 PM

okay, the price is $181 so, people should feel comfortable at $150 by tomorrow, and $200 by the weekend, with $20 swings as people think they are smart and cash out into the hands of the investment bankers that just tested the currency to see if it holds water.

they pumped, dumped, and are now standing aside and watching, eagerly waiting to buy all your coins for anything below $174 each. they just want to see the bottom and determine if the confidence remains before they rebuy. if you can wait until next week, i believe this will become obvious.

How d'you figure that? You may be right. But all this is, is a ponzi scheme. And don't get me wrong, I profited from it. But I still feel bad for the believers whose chances of actually turning this into a legitimate currency have been all but been ruined.

There is no circulation of BTC. A currency is valued on consumer confidence in that market, growth in that market, growth=cash earned and cash spent. This doesn't exist in bitcoin. No one is spending them (proportionally to their market cap). It's a joke. If you don't ahve circulation of currency, it's not a currency, it's just a hyped up dream that people stick their money into but will never some to fruition.

It will drop, and hopefully grow back organically. If people do start USING and not just KEEPING them, then BTC will become legitimate. But will they?