Originally Posted by woj

price is going up because more people are buying bitcoins...
it doesn't necessarily mean that they are "using" these bitcoins, they are likely just holding them, and speculating that the price will continue to go up, just like you... (which feels a lot like a ponzi scheme, doesn't it?)

it's a good thing if you are holding bitcoins in the hope they will go up... it's bad if you intend them to use them in commerce... why would you send someone bitcoins if you are expecting the price to go up? you would hoard them in the hope it breaks 100 soon just like you said earlier? I would think that's exactly what you are doing, no? and so everyone else is likely doing the same?

Either way, it's an interesting experiment, hopefully it will workout for everyone involved...

though I have a feeling it will turn into the biggest heist in history...no one will even know who to blame, no one will certainly go to jail and yet a couple billion will likely get stolen in the process...