Quote from: flug on July 16, 2011, 09:50:03 PM

Quote from: Synaptic on July 16, 2011, 09:39:44 PM

Quote from: flug on July 16, 2011, 09:35:21 PM

Quote from: Synaptic on July 16, 2011, 09:01:36 PM

Quote from: flug on July 16, 2011, 08:42:44 PM

Quote from: Synaptic on July 16, 2011, 08:36:07 PM

Quote from: Casper Hornstrup on July 16, 2011, 08:16:48 PM

Quote from: Synaptic on July 16, 2011, 07:59:37 PM

I'm not predicting the long term success of bitcoin I'm telling you that the market value relative to other currencies will continue to shrink until it reaches it's highest sustainable point somewhere below $10 and above $0.01. You're just twisting my observations relative to your own worthless antithetical agenda.

Bitcoin can be "successful" by a number of measures, yet still have little to no value in real currencies.

How do you arrive at those numbers?

Any valuation above relative parity with USD/EUR/AUD/GBP etc. is extremely suspect as there are absolutely zero real reasons for it to be above parity.

Another Godlike assertion, but no evidence whatsoever.

To repeat. How did you arrive at those numbers?

And after you've answered this question, I'll repeat the other questions that you've carefully avoided. One at a time though.

I'll just say:

Did you even bother to read the rest of the post?

Idiot...

Yes, I did read the rest of the post. How did you arrive at those numbers?

...

OK, let's start with this. At USD/BTC=1, the total value of bitcoins would currently be $6m. What are the pressures limiting the total value of bitcoins at $6m? What's to stop the total value of bitcoins going to $600m? or $6bn?

You look at it from a naively optimistic point of view, as that of a child imagining what a superhero might eat for breakfast.

The correct way to approach it is "At 1:1 USD/BTC, which places the total Bitcoin market cap at $6m of value, what market forces produce enough value to support that price?"

The answer as it's been for the past 3.5 months is hype. As the hype has faded and reality sets in and the price deflates as I'm explaining to you it will, even at $6m of value the answer is: Practically Nothing.

See, Bitcoins basically need the equivalent of a "GDP" to sustain it's value. There is no "GDP" behind Bitcoins now, nor will any "GDP" be growing within 6 months, or a year, or likely ever, for all the reasons I've listed across many threads over the past 2 months.

But I'll turn it over to you and that other genius that started posting:

Given a 1:1 parity with the dollar, what in all of the Gods' Hells impart $6m of market value?

Don't spout off bullshit about people paying what they think it's worth: that's speculation, and speculation isn't value...