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by hannibal5
4632 days ago
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For a more clearer picture, look at this graph: http://bitcoincharts.com/charts/mtgoxUSD#rg1460zig12-hourztg... Bitcoin is deflationary and has enough actual use to support small trading volume even without speculators. It's perfect vessel for speculators and bubbles, but the long trend is pretty obvious. I suspect that it will grow until it has reached all of it's potential users and potential speculators. It has actual use as currency for bad stuff, money laundering and avoiding currency restrictions like in China for example, so I think the exchange rate will grow for some time. I suspect that grey economy might support money supply worth of 200-300 billion at least. Government interventions might cut it into much smaller number though. Virtual currency has little value if you can't interact with the rest of the economy. It's not path to cyberanarcist-utopia, but it's not clearly useless either. I think it might find it's niche or be replaced with something similar. |
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