> Who are you to make a claim as to if it will last or if it won't or how valuable bitcoins are.
A speculator, same as you. This is implied. Besides, what has who I am got to do with what I say?
> We have no evidence to the contrary, and in fact, bitcoin being a deflationary currency by definition means it will likely increase in value and, what's more, if you look at the trend it has been increasing in value. If you were to use a single shred of logic then your conclusion would be "it might or might not last", but that's hardly a useful post.
Bitcoin's a great idea, but people have been using it to make a quick buck. That's why (I think) it won't last.
> Well, since people are RIGHT NOW paying over 10 dollars for a bitcoin that indicates that yes, yes it is.
Would you buy houses because "they're a great investment" was "good advice" pre-2008? Speculators aren't using bitcoins to buy $10 worth of stuff, they're using buying bitcoins because they think they can earn more than $10 worth of dollars. So, bitcoin's success is based off of it's ability to earn dollars, not buy stuff: this is what makes it unstable.
A speculator, same as you. This is implied. Besides, what has who I am got to do with what I say?
> We have no evidence to the contrary, and in fact, bitcoin being a deflationary currency by definition means it will likely increase in value and, what's more, if you look at the trend it has been increasing in value. If you were to use a single shred of logic then your conclusion would be "it might or might not last", but that's hardly a useful post.
Bitcoin's a great idea, but people have been using it to make a quick buck. That's why (I think) it won't last.
> Well, since people are RIGHT NOW paying over 10 dollars for a bitcoin that indicates that yes, yes it is.
Would you buy houses because "they're a great investment" was "good advice" pre-2008? Speculators aren't using bitcoins to buy $10 worth of stuff, they're using buying bitcoins because they think they can earn more than $10 worth of dollars. So, bitcoin's success is based off of it's ability to earn dollars, not buy stuff: this is what makes it unstable.