Quote from: naphto on April 19, 2013, 09:02:10 PM

I might be lacking imagination but still can't understand what makes you that over confident. You can't compare btc and internet...
Still reading hundreds of posts in this section, and can't configure out why people are still buying above 1 euro (which is according to me, something like a "fair price").

Confidence grew over time. Right now the majority of the people are in bitcoin because somebody told them to and they expect a price increase. That's why you see crashes - those sellers are the weak hands who base their bitcoin position on the latest twitter news. With time, bitcoins get accumulated by people who know the fundamentals and see their competitive edge in the few core businesses in which they operate. But that wealth transfer is a common phenomenon in all disruptive industries.

If you think 1 euro is a fair price, then you're obviously trolling.

Quote from: naphto on April 19, 2013, 09:02:10 PM

Is it possible to actually trade btc? (I mean sell btc before actually buying it)
If not, it might explains why people are keeping buying atm.

Yes - the inherent feature of bitcoin to be able to be rapidly settled in combination with its scarcity is what allows the free market to operate more efficiently. Any exchange which would try to "short" bitcoins by full-filling trades with no BTC backing would go out of business quickly in case of violent price movements. At least you would have troubles "withdrawing" your bitcoins from the exchange, while it would try to manipulate its way out of the misery.

The bitcoin currency model in a sense encourages a constant bank run on steroids. That's what disrupts the current business model of banks, because they operate on the assumption of being able to short deposits. There may be bitcoin based banks in the future - but they will have to state clear terms on when you can transfer money out and there will be no FED to bail them out if they screw up.