[Wayne 962]

I'm neither pro or con Bitcoin. I'm very well aware of how it works technically (being a computer programmer), and what exactly it is. As discussed in my earlier posts, I think that Bitcoin is version 1.0.0 and there will be some better solution in the very near future. Possibly the new Facebook sponsored one. We'll have to see.

But, there's a flaw in the valuations that we're seeing here too, I believe. If one person sells a home in a neighborhood of 100 homes for $1M, does that make the whole neighborhood worth $100M? No, it doesn't, because if all of those homeowners decided to sell in one day, the law of supply and demand would kick in and the prices would plummet. In a similar manner, thinly traded stocks, currencies, etc, can widely affect the market. Bitcoin is a virtual asset - it's 100% dependent upon the mindset of people perceiving value to it. If this perception begins to change course or fade, then there will probably be some significant price swings. BTC could go to the moon, who the heck knows, but it is very likely to be a very volatile / turbulent ride.

Then again, no one really knows...

-Wayne