I prefer to think of it as a value transfer system.
Most people other than speculators who use Bitcoin, use it to send money quickly and cheaply to other parts of the world, at least at this time.

[Yes, bitcoin no have cuddly, just like no other currency, payment vehicle or storage of value should be considered as cuddly, but if you have sufficient bitcoin you can buy as much cuddly as you wish, whether from beanie or from baby.   

What's wrong with you, don't you understand science?!
Look, bitcoins are clearly a valuable good. It's an antifragile, disruptive, distributed public ledger with literally millions of real-world uses.
Its value value is guaranteed to double in a few hours by the immutable laws of the cosmos.
Have you even read the White Paper?

so there it is, an admission that money needs to be tethered to the production of a valuable good. QED.

and only idiots would waste terajoules of energy a year digging yellow metal out of the ground.

The value is whatever the market determines. Regardless of your opinion.

Bitcoin does require electricity and hardware to be produced. This is an objective fact. And that requires a certain minimum of money. Facts, such stubborn things.

True. Like houses. No correlation to lot price plus cost of building.

Ergo, to keep the profit, they need to sell their bitcoin for more value.

Uh, yes, the probabilities I posted are based on the assumption that you folks will not manage to drive me away from this thread.  If I were to stop posting here, bitcoin would immediately shoot to the moon and beyond, of course. 

...because I'm not quite that bright.

You ever done that? Ok then. I stand by my statement. Learn quicker, it can be done.

Pro tip #2...rely on your intuition, after learning to well hone its snap judgements....
“The intuitive mind is a sacred gift and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift.”
-Einstein

... but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government.

A while away we learned that some internet trolls are paid to do what they do by some government agencies.

Jorge is a good example of this.

This the simplest explanation for someone spending so much time talking about something they don't rate very highly.

You are talking about me, engaging in strawman... I dont think so... I am just engaging in a conversation.. and I am suggesting reasons why Zapffe seems to be wasting everyone's time and NOT contributing... but anyhow, I am basing on a set of communications with him... Yes, I could be proven wrong that he is in fact a good contributor... but in my experience with his various posts, he seems to admit that he is NOT really contributing in any kind of meaningful way.. of course, he does NOT use those words or come to that conclusion.. but whatever, if posters admit that their purpose is to just spread FUD, then what good are they?  NOT MUCH>.. and accordingly, they should be removed, expelled, etc... .. .

Of course, I have NO power or authority to influence how much trolling is tolerated by the forum... and they come to their own judgements regarding whether posters (members) are contributing to the forum

hehehehe... My point is NOT about unbelieving .. but about contribution and substantiating contributions... If a person merely criticizing BTC without adding value concerning why.. then what good does that provide...   Also, some posters seem to be real denigrating about the contributions of others... which really does NOT seem to add value but instead attempt to distract and to side-rail meaningful discussions...

Keep 'em guessing. Did you ever read The Art of War?

Why bother?  You have HARDLY invested in bitcoin, and you really do NOT seem very interested.... except to denigrate various strategies.. without really providing insight... 

That's me saying that your charts are meaningless. Start creating charts in a way, that they could predict the right outcome at least 50% of the time, and there would be some meaning.
It may be a shock to you but drawing lines from the bottoms and tops at bitcoinwisdom isn't exactly an advanced method of prediction, that would be hard to understand to anyone. It's just a way for some people to rationalize their gambling habits, so they could call their gambling as "investing" to girlfriend and friends.

now according to my sources, we'll be at $700-760 in 2-3 days