That's exactly what has been happening, it may continue for a while, although in the end (IMO and DYOR) Bitcoin will be lucky to be a few cents a coin.
It will most likely be banned by Governments around the world, central bankers and lawmakers have been pretty clear on their thoughts and these will turn from thoughts to laws as soon as they feel it's become too big to ignore.
That may be months, it may be years, it may even be that we see the ridiculous targets some are setting for Bitcoin pricing of $200k + per coin.
These targets may get hit but the end is not going to be pretty, the higher it climbs the bigger the fall.
The first point at which people begin to catch on to the fact Bitcoin will be at the behest of regulation it's highly likely as money starts to flow out it will go straight into Gold and Silver.
Just to be very clear, if I didn't think Bitcoin was going to be banned by regulators, then I would be on board and consider it to be the centerpiece new monetary system.
I just don't think it will be allowed to, Governments will want to make their own and ban the rest.
Ps: as an aside I used to work with a tech guru and genius who told me all about Bitcoin, he advised me to put $1000 worth at 8c a coin, he then said the most important thing to do is keep it on a USD stick, put it somewhere safe and DO NOT UNDER ANY CIRCUMSTANCE TAKE THAT USB STICK OUT OF STORAGE FOR A MINIMUM OF 10 YEARS!!! (His exclamations, he explained it would be the only way to profit as no one can resist cashing in at a fraction of it's true potential, the worst thing he said anyone could do was to see it turn into a million and cash in, he expected closer to $100m.)
Perhaps he can drop a few hundred million of his pocket change into NST? LOL
Good example as to why you shouldn't listen to me on Bitcoin!
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1 | 156 | 14.510 |
2 | 245 | 14.500 |
1 | 69 | 14.490 |
1 | 71 | 14.450 |
Price($) | Vol. | No. |
---|---|---|
14.810 | 660 | 1 |
14.830 | 5000 | 1 |
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14.870 | 1 | 1 |
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