Bitcoin surges past $11K. Is it finally gaining acceptance?

slashdot.org

6 pointsMilnerRoute3 comments

people here can't associate two news next to one another? there have been a boom of hansonware being paid by USA city officials. and less reported, two new darknet markets booming.

you can call that accetance, but that is the same "acceptance" it had earlier.

No. It's an incredibly deflationary currency. Even slight changes in demand cause its price to spike wildly, discouraging its use for actual commerce and encouraging speculation. This leads to a speculative bubble that finally crashes when no greater fool can be found. Repeat.

This latest pump is driven by Facebook's Zuckerbucks announcement which actually has nothing to do with Bitcoin.

I have been hearing more mumblings in public, having more of the non technically inclined ask me about it again.

I tell them I'm not putting money in again, it's still speculation, the tech is still years away from being usable for the public There are also many who are still not back to where they got in last time.

Rinse and repeat (slightly differently)

Reply on news.ycombinator.com