Quote from: rpietila on December 03, 2013, 07:36:46 PM

Quote from: AnonyMint on December 03, 2013, 07:09:18 PM

Bitcoin's only intrinsic value is confidence. So "weak hands" will mean strong hands, and vice versa at some point in the future if I am correct.

An interesting metric would be: what percentage of coins are in the hands of people, for whom the holding represents X% of portfolio.

Probable answer:

Quote from: AnonyMint on December 02, 2013, 05:22:47 PM

Gonzalo Lira explains why anonymity is so important but Bitcoin doesn't have it.

Quote

Also, actually acquiring bitcoins is remarkably complexand completely negates the supposed anonymity of bitcoin. Heres a Reddit editor discussing how tough it was for him to get bitcoins, which is fairly typical of retail customers: A whole lot of hassles, and he still couldnt buy any. And for all the talk of bitcoins anonymity, you need a whole truckload of verifiable documents making clear who you are in order to buy your first bitcoin. So the bitcoin-anonymity argument is a chimera.

The failure to meet that conditionbuy or sell exclusively and necessarily with bitcoinis what makes bitcoin essentially useless.

Quote from: kallekoll on December 03, 2013, 07:08:29 PM

Data taken from http://blockchain.info/charts

In the past 60 days bitcoin market price has increased by 8000%. If the cause of increase was widespread adoption of bitcoin as a currency, people would be making transactions. The number of transactions would increase by a similar percentage taking it to around 300000 transactions per day. The current number of transactions is around 75000 per day.

My take from the data is that bitcoin is in a massive speculative bubble. People are hoarding and not using bitcoin as a currency.