33, by last count[0]. This will drive out the last set of speculators only to herald in a slew of new ones. Speculation has determined the price for the last

33, by last count[0]. This will drive out the last set of speculators only to herald in a slew of new ones. Speculation has determined the price for the last 2+ years and will continue to do so into the foreseeable future. The problem is that the value of bitcoin is not fundamentally tied to anything except the cost of maintaining the network, and it's clear at this point that hashpower responds to speculation, not the other way around. I'm curious to see how some of the new cryptos perform, like Nubits and Bitshares, which have a split between the crypto commodity, subject to wild fluctuations in price, and a crypto currency which is pegged to e.g. the dollar, at least in theory. The problem is, as usual, the network effect with bitcoin - nothing is likely to supplant it without some big real-world demand. If it can't find any real use case other than black market transactions, we can easily count on another 33 deaths ahead. [0] http://bitcoinobituaries.com/ http://bitcoinobituaries.com/