Strange, I always thought the word 'never' meant past, present, and future. Since I've already used bitcoin as a currency to purchase coffee, food, honey, silver, and gold I do have to wonder where you got your definition of 'never' from. If we're lucky and want bitcoin to succeed then we should hope for bitcoin to 'never again' be used as a speculative tool since that is what leads to the volatility that you mentioned in a sideways manner by referring to price increases.
Gee, sounds like you tried to mine with your CPU or something. Strangely enough I invested in several video cards and the value of the items I've bought using bitcoin as a currency (there goes your never again) exceeds the money I spent on GPUs by a factor of 3 or 4 already and they're still mining. They don't make as much now but I get as much in a single block on Slush's pool as you claimed to get in a couple of hours. I guess you never actually researched how you should mine or decided you could make BTC on advertising sites.
As a previous poster mentioned, you seem to have a serious lack of a grasp on bitcoin as a concept and on how to mine it, please study up on it before making ridiculous blanket statements like you've done here.
Thralen
No, I never tried to mine btc actually. And will never do.
I used that kind of websites:
http://dailybitcoins.org/I understand exactly how bitcoins works, how mining works ...
What I don't understand is why the price is so high (~ 90 euros). It does not make sense to me.
So, make it simple: what makes that high price? High supply.
Where did it come from? And why?like any asset class, bitcoin is subject to valuation, which ideally is determined by supply/demand on a free market. Determining the "fair" market value of a bitcoin is the challenge of 2013 and the years to come - it requires a solid foundation for market making.
That's my point.
How many coins are lost (1 million out of 11 million or 10 million out of 11 million?)?
What created so much supply
after the recent crash. I can't see any improvement in:
- transaction delay.
- transaction fee.
- security.
Which are the main keys to me...
My personal opinion is that most on here (the plankton or at best, the tadpoles of the Bitcoin ecosystem), are still buying because they are fkn stupid and are blinded by thier own greed/optimism as to the strong probability of much lower prices in the months ahead. However, having said that, with all the volatility, even now there is still plenty opportunity for nice profits to be made, and who doesnt want to make profits?
Everyone wants to make profit, but should be careful with involved risks. They are kinda high at the moment.