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Yeah but where is all this demand coming from? Do people really think it will just keep going up without a crash? Personally I wouldn't pay $600 for something
by fat0wl 13y ago
Yeah but where is all this demand coming from? Do people really think it will just keep going up without a crash?
Personally I wouldn't pay $600 for something that someone paid $5 for in recent memory. It's like buying a stock during the peak of a bubble that's about to burst.
- ekianjo 13y agoCheck the other article published on HN "why the value of bitcoin is skyrocketing". The more people thing there is value in Bitcoin, the more it's going to go up. I don't think the value of Bitcoin is a bubble, rather a bet on the position of this currency in the future. A very different thing.
- alaskamiller 13y agoI think it's just going through the technology curve. It jumped out of containment from the early adopters and now it's hitting the mainstream. To an average guy that just heard about some online investment opportunity where you put in $500 now and you get $100 more in a few days is a dream come true. Here's the pivotal point: there's now energy, momentum, and attention. The best thing you can do is establish domain expertise and market understanding and make bitcoin work. Or else it's going to be the next betamax. Shit, that was expensive too.
- ekianjo 13y agoI don't there it's anywhere near mainstream yet. I know a number of my friends who follow economic newspapers regularly and who have yet to have paid serious attention to Bitcoin. It's still very much a niche, at least in the circles I know of.
- alaskamiller 13y agoMy team in China has now heard of it.
- ashray 13y agoChinese demand is currently driving global demand. They seem to love it.