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Oh boy.. I was going to buy some bitcoins, but the price is creeping towards 100 USD/1 btc. That's just ridiculous.

A few weeks ago, prices were around 26 USD/1 btc... So are we going to see a swing down that low again? Or is this SilkRoad talking?

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this is the effect of the scarcity of bitcoin. there's a tremendous network effect, more and more online shops accepting them as well as AFK. it allows much lower fees and risk than credit cards with their 3% plus chargebacks, up to 5-10% better margins for sellers.

You can now use bitcoin to pay for services and even fines at some municipalities, cities and what not http://www2.egovlink.com/press-release-bitcoin.cfm

You can buy things on amazon via bitspend as well as other services.

And if you still don't trust bitcoin value to not go down, you can use services like bitpay that will convert for you instantly in whichever currency you want.

There's even some VISA prepaid you can top up with bitcoin for the places that don't accept them.

And you can now use bitcoin to pay for expenses and contractors http://techcrunch.com/2013/03/27/expensify-now-offers-suppor...

And while all this happens, the USD keeps getting printed at a far superior rate.

Thanks for explaining this.

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