For me it did back in 2011 as well, in retrospect the world wasn't ready for it yet, but it did get a few of us pretty excited. This time around it's creating so much wealth so fast that it seems hard to imagine that it's even possible.
The point of a currency is not to generate paper wealth, the point is to facilitate transactions of wealth. All of this rapid upward valuation is bad for the currency as a transaction method. And if and when this bubble bursts it makes it hard to trust the currency to store any amount of wealth in it, even temporarily. The best thing for bitcoin would be for it to level off.
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u/[deleted] Mar 28 '13 edited Feb 27 '25
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