Post
Topic
Board Speculation
Re: The End of Bitcoin as a speculative Investment
by
nwbitcoin
on 24/02/2014, 20:43:11 UTC
I think the OP has a point, but maybe not yet.

Bitcoin has barely scratched the surface, and I still meet people who'd like a bitcoin or two, but have no idea how to buy one.  However, in all reality, I don't think they ever will buy a bitcoin to keep.

The whole point of a bitcoin is that it allows you to move value digitally.  However, once the transaction has been done, people want their local fiat.  So, in a matter of an hour or so, they buy the right amount of bitcoin, do the deal, and the other person sells the bitcoin.

The actual value of the bitcoin is irrelevant to that deal.  It could be worth $500 a coin, $2000 or $200000 - it doesn't matter.  They only actually buy enough to cover the cost of their deal.

If bitcoin isn't bought and sold as an investment, and its prime purpose isn't as a store of value, it isn't going to go up much more in value than it needs to.

Personally, I think Nxtcoin has a far better future than bitcoin, but what bitcoin is doing is teaching regulators how to deal with crypto currency, and that is why a coin could be worth $2000 or so within the next few months but within 10 years will only be of value as a collectors piece! ;-)