Quote from: JayJuanGee on July 20, 2014, 06:15:27 PM

Quote from: ag@th0s on July 20, 2014, 01:05:27 PM

What if BTC stabilises here?

I'm just getting the feeling recently that all the Bull/Bear nonsense is based on the belief that BTC is a speculative instrument (or still in the speculative phase) and that may not be true.

Take Dell for instance and personalise it for understanding. Michael Dell is already rich beyond the dreams of Croesus - he's not taking BTC because he needs the money/fiat/crypto and he doesn't need to hodl to achieve some future dream of luxury. It's an optional transactional medium for him to continue to accrue wealth - that is all.

As it gets easier to obtain, and easier to disburse the price is going to settle down as a matter of course. BTC has already become a global currency (it happened while we were ~~not~~ sleeping) and after all the excitement about China - and then then the come-down - we're all still holding coin with the most amazing utility.

That's what Big Trade is buying into - the utility, not the speculative opportunity, so I'm not expecting another "launch". I'll be very surprised if we see $1000 again - there's no good reason for it at the transactional level.

There is NOT a large enough market cap to achieve multi-million dollar (or even billion dollar) transactions without causing some volatility; accordingly, the market cap has to increase in order to make bitcoin practical for these purposes. Accordingly, since bitcoins have a limited supply and a limited production rate, the ONLY way to accomplish sufficient meaningful market cap is for BTC prices to go up (probably at least 100 times today's current prices).

In Sum, it is inevitable that BTC prices will go up, if it is going to serve large and/or institutional financial uses.

Consider the lost/forgotten/lost private keys coins also!