Quote from: henryreardon on December 09, 2013, 01:24:49 PM

Quote from: raskolnikovx on December 09, 2013, 11:21:29 AM

Bitcoin could reach 10K if amazon starts accepting it BUT that wont happen if value keeps crazy jumping

Why not? If major vendors like Amazon or Google or eBay start accepting btc's today, all they have to do is immediately exchange to fiat. In that instant volatility is irrelevant, btc is just serving as a proxy to the dollar for a nanosecond or so. But the benefits to the company (perception of being in the vanguard) and to btc would be immense.

I have been predicting a major ecosystem announcement for about a week now, we are due anytime I think. Lots of guys in garages burning the midnight oil on btc projects as we speak.

This is exactly what I have been telling people - BTC is the transport, not the end result, although it does have some basic value in it as a store.

What people are also not seeing is that it isn't people buying 1 BTC for $10K, they will be buying 0.1 BTC for $1000 - knowing that its still worth $1000 for the internet sale they are arranging later that day. Its long term value will be irrelevant to people when it becomes mainstream!

This is why I don't see it having a long term value - much like Domain names were going for $100k+ during the dotcom days and today, people are smarter in how they buy their online company names.