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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: Lhn5 who wrote (22782)	4/2/2013 2:18:36 PM
From: ahhaha	Read Replies (1) \| Respond to of 24758

If $/bitcoin went from 10 to 100 over the past year, is that because bitcoin is a novelty that people want to own just because? The change reflects world wide financial tensions, doubt about any currency, potential superiority to all other currencies although for bitcoin to work I claim it can't be strictly a currency. Cyprus generated demand ran the conversion from 30 to 105. Is a bitcoin something someone could have bought last year for 10$ and sell it now for 100 Yes. That's its weakness. Vulnerable to supply/demand although maybe that would change if the unit blocks were allowed to be unbounded in number, but what does that do to incremental conversion? You see one must get away from conversion risk using the Net and its secure speed, and get away from the notion of accruing storehouse of value, in order to have utility. What is accruing storehouse of value? If the US mint creates a coin, does the coin have any value (outside of the metal blank value) when its being wheeled through the mint doors? No. It only starts to accrue value when it is held in one's hand. This is a very difficult concept to understand, but its understanding is critical to the success of the (modified) bitcoin program.