I have a gut feeling that the bitcoin price will eventually explode. I don't know when, how or why, nor am I putting my money where my mouth is, so I don't say it. But unless some other substitute system is devised, I suppose the crash of fiat currencies would cause it. But in this case I think gold would be better.. or would it?
add: I heard someone talk about India buying oil from Iran using gold now - if gold replaces the petrodollar, that might trigger something. The sanctions on Iran could ultimately affect bitcoin by way of new oil trade with Iran in gold that doesn't include the Western bloc of nations. Oil4bitcoin might make an interesting website.
add: I heard someone talk about India buying oil from Iran using gold now - if gold replaces the petrodollar, that might trigger something. The sanctions on Iran could ultimately affect bitcoin by way of new oil trade with Iran in gold that doesn't include the Western bloc of nations. Oil4bitcoin might make an interesting website.