Super wow...... My question is for those who aren't as lazy as me and are willing to investigate......Can you name a single commodity, share, ostrich etc that went parabolic and remained high? I can think of many that didn't. This is not a critical post about bitcoin. It is just that the parabolic rise in price has in the past been a harbinger of the end of the cycle.
Parabolas can turn into S curves, as a limit is reached and the results approach it. The limit can be resources, population, you name it. One classic way of labelling the three phases is ferment, take-off and maturity - we are in take-off. At the maturity phase something else is likely to kick-in, either re-energising the process, or killing it off and substituting for it. Oh yeah - thickness of mechanical watches, price/performance of CPUs, et cetera.
Civet Cat Poop Coffee. http://abcnews.go.com/International...rlds-expensive-brews-animal/story?id=30011989
My question is, what will replace it ? Daffodils did not cut it in the flower range back then, but here we have a whole spectrum of replacements that are without doubt new improved forms of the original. If Keith Richards is BTC and there is only so much the drug addled body can withstand over time, life support will only last so long once the inevitable end of life cascade happens. Who or what is next ?
Yep just take a look at the Bolivar or the Zimbabwe Dollar for example. Both are or rather were Gov't Backed currency's.
This really calls into question the suitability of bitcoin as a means of exchange. If I sell my car in exchange for 1 bitcoin, I could either be very happy or very sad within a short period of time. 5 grand turns into 7 or 3 grand.
It has the hallmarks of the initial precipitous drop after the peak. Wait for the inevitable rapid rise which fails to reach the high, followed by the final collapse. Just like gold in 1980.