Quote:
Originally Posted by cstreit
Shouldnt Limited supply of new coins lead to increased valuation rather than a crash?
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The law of supply and demand would indeed hint at that - *if* the demand is there. This is a fake product that has no useful purpose except to (occasionally) facilitate illicit and illegal commerce. Everyone else investing in it is just hoping to "ride the bandwagon" to make a quick buck. I have not met a single person who thinks that Bitcoin will be the "currency of the future" - there are too many inherent flaws with version 1.0.0.
If Bitcoin is looked at as a giant ponzi scheme, then I suppose there is not much limit to how high it can go. One only needs to find someone else to pass it on to at a higher price. It will keep going higher, until it doesn't. It could reach a million dollars per coin! Or it could collapse tomorrow. Again, it's a fake product with no intrinsic value, so it's 100% dependent upon the human psyche and what story the next person will believe or "hope". Frankly, *that* should be the real question for discussion, I would think...
-Wayne