Quote from: rpietila on March 21, 2014, 05:56:18 AM

Quote from: chriswilmer on March 21, 2014, 05:03:33 AM

Quote from: BitChick on March 21, 2014, 04:52:47 AM

Speaking of "bouncing," haven't we had substantial dips before we have had major rises in price? Perhaps I am just being my usual optimistic bullish self though. Wink

Seriously... it's not possible for so many people to think that Bitcoin will eventually go to the moon and simultaneously have a constant downward slide... I think this will spring upwards pretty violently soon (as Bitcoin tends to do).

The people who believe it will go to the moon are not the people who can take it there. Bitcoin's userbase must constantly grow, and it does, at an exponential speed.

Do you foresee a Russian oligarch, or someone like that, deciding to throw 100 million dollars or so (a small part of his fortune) into Bitcoin in a moment of desperation in order to avoid a financial confiscation of some sort? I am not someone like that, but if I were a controversial person who faced a 50 percent possibility of having someone like Vladimir Putin or Xi Jin Ping seize all my assets within the next 5 years, I would certainly have enough confidence in Bitcoin to think that it would be a wise decision to hedge against total loss of all traditional assets by putting a relatively small portion of my wealth into something that cannot be seized, so that I could still be super-rich after being persecuted. How likely do you think this is and how you take this possibility into your calculations?