Quote from: HonestAbe on July 06, 2011, 12:15:56 AM

I grew up in rural America. Every so often I would hear a story about a farmer crossing the line and speculating on the cattle futures..... Same type of guys as the Mt Gox speculators!

There is a difference, at least the farmer thinks he has some subjective knowledge about what he is speculating about. We are more gamblers than anything else, The price components of BTC have been commented about I.e difficulty rating, miners and hackers off loading the booty etc but what I see is that most of the trade is spectulating on speculating, in an essence gambling.