This is the second business I've seen advertise that they accept bitcoin as payment, this week. Will this ever be mainstream and if so what impact will a truly international currency have on us?
WHY are all you non experienced NEETS saying Bitcoin is dying? This is a two-year chart. Obviously a fucking uptrend.
Can you specifiy? Is it's value only determined by how many people are willing to buy it and for which price? Is there any other factor that influences it's value aside from exchanges where people purchase with their USD/EUR/we ?
> value only determined by how many people are willing to buy it and for which price?
Thats how markets work. People buying and selling sets the market price. Just like stocks, commodities, FX.
Why do people buy it then? If the only factor determining it's value is the price at which people buy it, then that means it's completely worthless and it's only 'use' is an item of financial speculation with high volatility.
Surely that can't be it??? Is the value of bit coin in no way affected by the physical part of the economy?
If not, is it just a matter of time until it does?
As someone thinking about investing in bitcoin (as in long term, not short term speculation in hopes to make quick profit) I'm just blown away by the fact that there seems to be NO information out there from which to extrapolate it's development...
How valuable something is is determined by how much people value something. This is expressed in the market price which is an expression of buying and selling action on the open market.