Quote from: bitcool on June 23, 2011, 10:41:55 PM

Quote from: relative on June 23, 2011, 10:18:52 PM

I'd consider 30$ the more ridiculous number out of the two.

there is no economy to speak of already, and the money supply grows by another 40% within the year alone.
the 2,6 million coins that are mined in a year equal 80 million dollars at 30$.

that means 80 million dollars have to come in to SUSTAIN this price!
(or miners don't sell as many, but that only means they expect to sell it for even more in the future).

I like the bitcoin concept and all this specuation doesn't make it worse, but I'm sorry, this is insanity.

If you really believe bitcoin is a good idea and it has potential, 80 million dollars a year is absolutely nothing.

Global FX currency trading volume is 5 trillion dollars PER DAY, that's 62,500 times as large.

Bitcoins don't trade anywhere near 80 million per day. It's usually 100k - 1 million, when MtGox isn't down.