Comment What are they being used for? (Score 2) 371
Presumably, people want Bitcoins for some reason, otherwise the price wouldn't go up. I can think of 2 reasons that could be driving it...
1. Pure speculation in a rising market and wanting to make money by investing.
2. BTC actively being used for something so they have actual value.
I've seen some minor gambling sites. And a handful of sites that accept them for services/products. There was silk road, but that's gone. With the bust, I have to imagine that people are skittish about the new silk road, so I have to believe those volumes are way down. But all that just doesn't seem to be keeping up with the extreme increase in value. Make me really think #1 is the more likely scenario.
What am I missing? How are these being used?
Side note... I've got 0.34 BTC from when I played around with it a year ago. Wasn't worth cashing in then and forgot about them. Glad I didn't lose the keys.