Buying Bitcoins while their price is so bubbly is nothing more than a gamble. Investing in other online currencies, or in companies that can help the Bitcoin economy develop, looks like a sensible use of a venture capitalist’s money.
Also from the comments section this one is particularly insightful:
If you want to value Bitcoin's potential properly you have to understand it's at minimum a decentralized payment network which will provide most of the service of retail banking offers for free or minimal fees to all the unbanked of the world. Actually considering how antiquated the banking system is, it will also offer serious competition for the already banked.
Can you imagine a world where anyone can set up a shop on the internet and instantly accept payments from all over the world to sell its product or service without any intermediary ? Well that's only one face of what Bitcoin enables. And It enables a world of possibility after that. If for people who understand Bitcoin, we can't even grasp what's going to be done with this technology. It's like trying to grasp what's going to be done with the Internet in 1990.
So you want to value Bitcoin's potential, you have to compare it to Gold as a store of value and to m1 of major currencies. Anybody that builds a model for Bitcoin's POTENTIAL without landing AT LEAST in the hundreds of billions of $ at minimum is doing something wrong.
Not everything with an exponential curve is a bubble. Technology adoption follows a S curve. And Bitcoin could be the most important technology invented since the Internet.
Buying Bitcoins while their price is so bubbly is nothing more than a gamble. Investing in other online currencies, or in companies that can help the Bitcoin economy develop, looks like a sensible use of a venture capitalist’s money.
Also from the comments section this one is particularly insightful:
If you want to value Bitcoin's potential properly you have to understand it's at minimum a decentralized payment network which will provide most of the service of retail banking offers for free or minimal fees to all the unbanked of the world. Actually considering how antiquated the banking system is, it will also offer serious competition for the already banked.
Can you imagine a world where anyone can set up a shop on the internet and instantly accept payments from all over the world to sell its product or service without any intermediary ? Well that's only one face of what Bitcoin enables. And It enables a world of possibility after that. If for people who understand Bitcoin, we can't even grasp what's going to be done with this technology. It's like trying to grasp what's going to be done with the Internet in 1990.
So you want to value Bitcoin's potential, you have to compare it to Gold as a store of value and to m1 of major currencies. Anybody that builds a model for Bitcoin's POTENTIAL without landing AT LEAST in the hundreds of billions of $ at minimum is doing something wrong.
Not everything with an exponential curve is a bubble. Technology adoption follows a S curve. And Bitcoin could be the most important technology invented since the Internet.