Where were you when Baron started the bitcoin thread in October 2013 and more importantly, will you still be posting about bitcoin when it makes new all time high's? Newsflash, bitcoin bubble has burst many times.
Ah yes, you still trying to give Bitcoin legitimacy trying to associate it with prominent people or with real assets. The one point that cannot be denied is according to your chart, Bitcoin has been around for over six years.
Although six years is impressive for a "product" with limited "utility", internal and external competitive pressures will catch up with Bitcoin sooner rather than later. By internal competition, I am talking about all the new cryptos being introduced and the "monetary" supply of existing cryptos increasing. Apparently, even the way Bitcoin is structured leaves it a disadvantage to some of the other cryptocurrencies. By external competition, I am referring to the current money transfer system of in place as run by banks and other institutions. These traditional transfer methods are low cost, are considered safe, and are evolving further to meet market demands.
Now let's get back to the marketing of mostly unregulated Bitcoin to unsophisticated "investors". By the effort measured in attempting to legitimize Bitcoin, the depth of research, and the quality of presentation materials makes it obvious there is more going on here than someone talking their 5 Bitcoin "book". Definitely Madison Avenue quality spreadsheet with all it's data points.
Personally, I considered mining Bitcoin over a year ago, but never got around to it. I will continue to rail against Bitcoin and other scams of the $700,000 variety for as long as they are promoted as legitimate investments. I cannot predict how successful marketing efforts will be on propping Bitcoins's price up. I can predict, however, that a lot of people will get burned by Bitcoin and other cryptocurrencies sooner or later.
