[anonisko]

Everything is speculation.

My ultimate point with the comment above, is that dismissing bitcoin as nothing more that a rampant speculative bubble is not a good argument against it.

Everything we value is a speculative bubble that can eventually pop if conditions that cause us to value it change. The bitcoin bubble can pop (and has many times) but so can the 'trust in the US government' bubble.

[ldbooth]

Bitcoin is a genius trust system. But if the price gains are based on demand created by financial leverage, it can be both genius and a bubble due to leverage and short term price distortion. If interest rates go up, BTC prices will fall despite the 'inflation protection' argument. Long term, the proponents make good point sans undermining US financial sanctions, the best no war big stick the US has.