I think it's also something that has to do with a philosophical point of view.
For me BTC is a way to say f**k off to dirty fiat and financial corporations, it is a way to break the chains of debt money. I think this is one of the main intentions of Satoshi and Co.
But for most of people here BTC means: I have 1,000BTC that costed me 1,000$, and now those BTC are 1,000x$140 = $140K. So their BTC has a value in relation to fiat money, which is something that seems absurd to me.
Personally, I don't want more fiat - I already earn what I need to live working. I want the freedom and the power BTC gives to individuals, thus I want more BTC and I don't really care about it skyrocketing in fiat terms.
I hear you and agree. Totally. (only trade to try to get more BTC).
However a high valuation in terms of fiat is a sign that the world is starting to take bitcoin seriously as money.I believe the part in bold is true - but anyhow I also believe that the infrastructure is too fragile and the real economy too tiny for BTC to be ready for prime time.
Come on, a decentralized currency with an exchange that controls 80% of the market? They could be making up all the trades, creating an epic pump-and-dump scheme, and nobody could do nothing - all other exchanges just follow Gox's price. Or Gox could be shut down, and that would be a huge and dangerous (although not lethal) hit for BTC.
Making a long story short: we really need to work on BTC to improve it's infrastructure, it's real economy. There's still a long way to go before being ready for prime time.
