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Not mutually exclusive, though. The technology is neat, but there's little to justify $4000 a pop tech-wise. Plus, the vast majority of people putting money on it are not buying to fund development or for its future promise, but to sell someone else for a higher a price.

There's tech in bitcoin, which is neat and will lead to interesting things, and then there's speculation in bitcoin, which is just that and will lead nowhere.

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> The technology is neat, but there's little to justify $4000 a pop tech-wise

Just a globally decentralized currency that can't be devaluated by central bankers. No big deal.

Bitcoin is a political statement. And HN is a political echo chamber. No one here is going to change their mind about central banking and monetary theory. So if you think $4k/BTC is insane, that's totally reasonable. But you're also not seeing the vision and motivation that the early adopters hold - and from that perspective, $4k/BTC isn't that impressive.

I don't get why there's so much hate on the speculators. They're the (only) reason early adopters earned a reward for their risk.

Plus it's not like you have to play their game: if you think there's a bubble just cash out and buy back in when you need the coins for a transaction.

Who's hating on speculators?

Feels like everyone, my original parent commenter for instance

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