Quote from: over1977v on December 07, 2013, 07:09:09 PM

Quote from: bitbeg on December 07, 2013, 06:55:53 PM

The smart would look at this as nothing more than a speculative bubble-- everything about it is a classic bubble. If they are smart, they will probably stay away. There is a difference between smart and informed. So the informed might say this isn't a bubble at all, but they will have an extremely hard time justifying that to someone who is rightfully skeptical and using their smarts.

The ordinary might only need to be made aware, but since they're already relatively late to the game, their success will depend on the people that come after them. If there are none, they will fail. The people that got in early, or have already cashed out are the only winners so far. Time will tell if anyone buying in now will profit, but the fact remains that they will drive the price up most for those who got in early. So the later they get on board the less of a potential payout exists, not only because they're late to the party, but because the more people that buy in, the less potential there is for every new 'investor'. That will make it harder to get any ordinary, smart, or even extraordinary folks to buy in.

So you say smart people dont see how usefull Bitcoin is ? You should maybe invest some time how is Bitcoin used, and not just look at price market...

The usage of Bitcoin, on a world scale, and relative to everything else is minimal. It has for most of its history been used for 'off the books' transactions. These transactions were often made to purchase illegal goods. Sure more people are adopting it, but mostly they are doing so to profit somehow from the Bitcoin phenomenon, not because of some profound philosophy or practical future implications. And whatever the tiny % of businesses that have adopted it is, they do not justify the attributed 'value' of any cryptocurrency, because nothing justifies a pricetag (based on fiat, btw) on what is supposed to be a method of exchange. The pricetag is nothing more than speculation.