But then it shall drop and shall become under-valued for a while - let's say 10$ ??
GotBitCoins
In 2011 everyone expected Bitcoin to die. Only complete morons will assume that today. Everyone knows that another default like Cyprus is just a matter of time. Considering the youth unemployment in Greece and Spain, a civil war there is imminent, with everything that entails (forced war bonds, outright confiscation....)
Argentinians get to know the advantages of Bitcoin while the government goes full scale totalitarian these days. If you want to sell Mendoza wines or beef, there are 2 possibilities: Get payment through the banking system and lose 60% at the official exchange to Pesos, or get paid in Bitcoin.
And with all these possibilities of massive upturn, you expect $10?
We don't know the true price of BitCoin right? But even at 20$ it was in a bubble right? I remember I first heard about bitCoin when it was 14$ and in the 10 days that it took me to wire my funds to MtGox it went up to almost 20$. So that's a whopping rise of 50% already!! and I mean it was up already thousands of % by that time for the true early adopters - yes? So suppose that 10$ is a pre bubble price and now there's a HUGE scare all around the world and the price of BitCoin goes up to wholly cow - 20$ !!!! WOWWwww!!! so high!!! it's like you say that Gold which is trading at 1400$ goes to 2800$ because of this cyprus scare... - and it doesn't. 200$ is 10X that - it's absolutely outrageously high price. Surely it will collapse, and I don't know yet if when it crashes I will use my gains in order to join the 5K BTC club because frankly after such a parabola and such a crash - it may never go up again.