Quote from: pr472 on September 15, 2014, 10:57:28 PM

Quote from: ChuckBuck on September 15, 2014, 06:32:18 PM

I agree with the general investment ideas and advice, but the fundamental flaw in the OP's statement is they omit the intrinsic properties of Bitcoin.

Bitcoin is deflationary by nature but not a deflationary spiral like a traditional monetary system:

Quote

"Elaborate controls to make sure that currency is not produced in greater numbers is not something any other currency, like the dollar or the euro, has," says Russ Roberts, professor of economics at George Mason University. The consequence will likely be slow and steady deflation, as the growth in circulating bitcoins declines and their value rises.

The 21 million Bitcoins cap and block reward halving come into play as well.

With scarcity and a supply limit as known properties of Bitcoin, the price in theory should go up.

Anytime you make an investment, you believe "in theory" that it will go up. But in reality, prices go up or down because of factors that are unforeseen or unexpected. Bitcoin is no different.

This is true. There is no guarantee that the price of bitcoin will increase over time. I do however think that over long periods of time (10+ years) it likely will be much higher then it is today