Quote from: An amorous cow-herder on October 11, 2014, 12:07:27 PM

Quote from: inca on October 11, 2014, 11:45:49 AM

But to the average joe it's benefits and use case are basically an unknown.

Thats a pretty good thing actually. Means they also dont know about all the deficits. And thats there is time to improve it before its ready for wide adoption.

Quote from: inca on October 11, 2014, 11:45:49 AM

You keep repeating yourself that it is about consumer adoption. I am not sure why you say that when precisely none of the previous bubbles relied upon consumers adopting bitcoin to drive the price rises.

All of the previous bubbles have aligned with extended media coverage. At first just some crypto-related channels. Later on tech sites, e.g. slashdot and similiar. And even further on main-stream media.

Quote from: inca on October 11, 2014, 11:45:49 AM

People like to balance their risk and when bitcoin is accessible by the trillions of dollars in share portfolios it doesn't take much foresight to see the price will potentially leap upwards dramatically.

And why would someone invest trillions into a technology that hasnt seen any significant user adoption?

Quote from: inca on October 11, 2014, 11:45:49 AM

Consumer adoption will rise with bitcoin, especially as utility of the digital currency improves online. But it is not consumers adopting bitcoin which will move the price up from the relative lows it is experiencing now.

I´m pretty sure that bitcoin will/would rise with consumer adoption, not the other way round. Why would a consumer, who wants to use it as a payment system or store of value, be interested in how much a single coin is worth? Thats just an arbitrary number. Thats like saying consumer adoption would be higher if Satoshi had decided to cap the maximum at 2.1M instead of 21M, because a bitcoin would be worth ten times as much now.

You missed the main thrust deliberately which is that consumers haven't driven bitcoin previously, nor will they drive the next price cycle.

Why would investors invest a tiny stake into a speculative position via their 401k or ISA? To realise potential spectacular gains. You also skipped over there being no current vehicle for a normal investor to hold bitcoin in a tax efficient way. Why would trillions be invested? it doesn't take trillions of course, simply a few tens of millions out of trillions to push us well past the previous ATH and start a new mania off.

The rest is just you trolling. Shame.