Quote from: infofront on October 13, 2011, 03:50:04 PM

Quote from: Cluster2k on October 13, 2011, 10:20:34 AM

Quote from: Jeremy West spendbitcoins.com on October 13, 2011, 09:14:16 AM

Quote from: ineededausername on October 12, 2011, 01:30:53 PM

This... BTC is plagued by scammers and hackers, who are the main reason why the price is so low.

The question is, is the price "so low"? It seems like it because it shot up to $32 at one point. However, just one year ago, 1 bitcoin was 20 cents US and if you had told me it would hit $1 by this time this year I'm not sure I would have believed you.

That is true. Bitcoins could be worth $1 each tomorrow and some people could legitimately still claim that bitcoin's value has boomed. This is assuming they either mined or bought bitcoins when they were worth a handful of cents each.

What we really need to look at is how many people were aware of bitcoin, and had a substantial stake in it when they were worth just a few cents each. If 100 people bought in at 10c each, yet the vast majority of people interested in bitcoin (let's say, 1000) bought in when popularity boomed in early/mid 2011, the vast majority would be disillusioned with the price hovering around $4. There are a few winners, but many losers.

Bitcoin's price bubble is still deflating and it's difficult to see what current product or event could see it reach $10+ again.

Another huge wave of interest, with lots of new money coming in. That's why a lot of people are trying to introduce bitcoins to the Occupy movement. The only problem is, those people have no money.

I think those in the Occupy movement DO have money. They're likely mostly middle class. The demonstrations are tame, and tame demonstrations are led by people with something to lose. Why would the middle class be part of the Occupy movement? Because they don't want to be poor!