Bitcoin is currently trading below $300. Where do you guys think it will be 6 months from now?<p>P.S. Can someone with enough karma set this up as a poll? I would love to get an HN consensus on this.
Bitcoin's price is mostly backed by speculation, if there is bad news or a lack of 'faith' it will go down, if there is good news and faith is restored the price will go up. The organic bitcoin economy hasn't dramatically improved from my impressions, I would love to use bitcoin, personally, but there lacks ad networks (for generic audiences) or payment processors (for credit cards) which pay in it which means I can't keep every aspect of the webmaster payment cycle within bitcoins so I continue to use fiat. However, finding server providers and domain registrars who accept bitcoin is very easy.
According to this video on youtube it's mainly due to bitcoin inflation i.e. mining rewards.<p><a href="https://www.youtube.com/watch?v=_-TLA3j-ic4" rel="nofollow">https://www.youtube.com/watch?v=_-TLA3j-ic4</a>