Quote:
Originally Posted by AltonKelsey
"It's got a unique combination of technology"
The word unique is misplaced.
They have no patent on the tech.
That's why there a hundreds of other coins that use the same idea and many probably do it better.
There's no explanation other than a conspiracy to manipulate the price. Unless you want to use insanity as the reason.
I've given up calling a top in the thing for the last 6,000 dollars.
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The unique part is the combination. There's enough mystery to the technology, that only 3 in 100 understand it. The "gotta have it" runs strong with this one, as pointed out by underline (_________), there is no tangible asset associated with bitcoin - ergo, no fundamentals to estimate worth. At least Charles Ponzi had his stamps, and the Florida swampland sellers had, well, land/swamp.
Bitcoin was one of the first, and is certainly the most hyped/PR'ed/advertised of the cryptos - but the competition from the others, for whatever reason, is minimal for now. That is hard to explain outside of a conspiracy/racket.
As soon as bitcoin cuts into .gov affairs and their turf in any meaningful way, I'd expect a rider on some bill that chops the conversion mechanisms off at the knees, and makes it relatively worthless to any law-abiding citizen. Sort of like the rider on the ports bill that cut off funding bank transfers to offshore gambling accounts via Neteller.
