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comment by mk
mk  ·  4069 days ago  ·  link  ·    ·  parent  ·  post: Three Graphs Proving Bitcoin Is a Bubble

It absolutely is. Most people I know don't have any, and very few people can name merchants that accept them. That said, I do think there is growing interest in using the bitcoin protocol as a means of transaction. But as the article states, this means only holding btc for a very short time.

And yet, I still suspect bitcoin has just begun to run its course. It is an apple, and we only have oranges to compare it to.





kleinbl00  ·  4069 days ago  ·  link  ·  

The fundamental problem with BTC as an investment strategy is that its existence is contrary to central banks. Usage of it is quasi-legal at best. That makes it an extremely risky investment strategy and a target of radical speculation.

The graphs illustrate something I've suspected - it's under the influence of the penny stock diversifiers, who are getting some to have some.