Quote from: CurbsideProphet on July 01, 2011, 12:02:27 AM

Quote from: MoonShadow on June 30, 2011, 11:41:58 PM

Quote from: qualia8 on June 30, 2011, 11:39:35 PM

Here's the thought. Most of current value is speculative.

You can't possiblely know this to be true.

Of course you can. There's very little medium of exchange for Bitcoin so the value represented is based on the speculation of it's future adoption/uses.

Agreed, Bitcoin does not even store wealth, although this claim has been made on this forum. Bitcoin has lost ca: $1.5 since Mtgox opened; anyone looking to preserve wealth would be wise to stay away from Bitcoin at this stage. Also, the value of Bitcoin was, according to what I have heard, stable for a long period of time, before appreciating during the spring. The only way that an apreciation could have occurred that is not due to speculation would be if the marketplace/usability of Bitcoin had grown substantially.