> instead of a currency that must be exchanged for goods.
My prediction is the bitcoin market will correct itself, as markets without interference do. Bitcoins are intrinsically worthless, like the USD, unless it can be exchange for goods/services.
> Imagine if the dollar was appreciating in value big time every week and month.
As long as a central banking authority (Federal Reserve) can legally make dollars from thin air, this will never happen.
The problem is that people are using BitCoin as a 'Get Rich Quick' scheme instead of a currency. While this does drive adoption, some lives may be destroyed on the way because of market manipulation by malicious parties. How many legitimate transactions are happening compared to transactions with an intent to hoard BitCoins for future gains?
My prediction is the bitcoin market will correct itself, as markets without interference do. Bitcoins are intrinsically worthless, like the USD, unless it can be exchange for goods/services.
> Imagine if the dollar was appreciating in value big time every week and month.
As long as a central banking authority (Federal Reserve) can legally make dollars from thin air, this will never happen.