The author's central point is still very misguided: "Specifically, watch legitimate transaction volume--I'd suggest only buying if it shows signs of seriously ramping up."
Markets are based on expectations about the future, which is tangentially related to present reality. Present reality is that many smart, well-funded people are working on merchant adoption.
By the time legitimate transaction volume ramps up the price will have baked it in months ahead of time.
Not saying today's price is unsustainable, but I would recommend buying as many bitcoins as you would bet on black at the roulette table during a weekend in Vegas. If you're not a betting person, get off HN and go read Reader's Digest or something.
Markets are based on expectations about the future, which is tangentially related to present reality. Present reality is that many smart, well-funded people are working on merchant adoption.
By the time legitimate transaction volume ramps up the price will have baked it in months ahead of time.
Not saying today's price is unsustainable, but I would recommend buying as many bitcoins as you would bet on black at the roulette table during a weekend in Vegas. If you're not a betting person, get off HN and go read Reader's Digest or something.