Quote from: the founder (FlexCoin) on August 23, 2011, 05:10:53 PM

Quote from: FreeMoney on August 23, 2011, 05:03:35 PM

Lol, yeah, things that no one wants to keep are super valuable.

That's the blessing and the curse of this... if everyone keeps hording them and not spending them on stuff.. it's not a currency it's a speculator market .... if people start spending them then of course it becomes a currency.

It's up to the bitcoin community on how it proceeds.... in my opinion it needs to turn into a useful currency or else it becomes tulip mania.

http://en.wikipedia.org/wiki/Tulip_mania

I respectfully disagree. The key to adoption in large numbers will be at least a perceived notion that bitcoin's value will rise. This obsession with stability is very misguided. Nobody has a true incentive to engage with a perfectly stable currency or commodity of any sort.

A steady, continuous rise in price, on the other hand, will act as a constant lure to people to engage with bitcoins, learn about them, then buy some... once people HAVE bitcoins, they will start to use them in transactions. Not the other way around.

Of all the incentives bitcoin has to offer to the masses out there, it is its deflationary nature that will appeal to most. The uncounterfeitable aspects of it, the fact that it's decentralised and can be transmitted around the world almost instantly for almost no fee at all... that doesn't come close to acting as an incentive for the vast majority of people. A rise in value will.

Oh, and if you truly compare it with tulips, you haven't read enough about either bitcoins or tulips... which I'm sure is not the case, so let's not make silly comparisons, shall we?

Cheers