Post
Topic
Board Bitcoin Discussion
Topic OP
A little confused on Bitcoin itself right now with this surge
by
WagerBTC
on 19/11/2013, 01:47:03 UTC
I have been around the bitcoin scene since the beginning of the year.

What I have realized is that bitcoin is a movement in a sense that it is decentralized without government regulation. Now what has been confusing me recently is that if the whole point of bitcoin is to USE it as a currency and get away from all the fees associated with credit cards/paypal and such, why is everybody treating this as a stock???

Don't get me wrong, I initially invested into bitcoin to show my support and to be a long term holder (for the cause). Due to my impulsive nature, I got out, still up, but no where near where I would be up now, but I can't complain being up. If bitcoin is being bought/sold just to make a quick buck, then doesn't that go against what bitcoin stands for???

I'm not saying that all this buying/selling in the past month is hurting bitcoin, the past shows that any type of news is good news for bitcoin (unless it's government/MTGoX related). I just hope that this is not another bubble. That last bubble at $265+ down to under $60 hurt bitcoins reputation in a way that news and media were bashing it. The ideal future would be me walking into a local convenience store and buying say a can of soda with bitcoin.

Final speculative question, What is bitcoin going to stabilize at!?!?!?!?!? 250? 500? I was leaning towards 250 when it was at 450ish, but now I couldn't even guess a price.