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- The catalyst for change could come out of places like Iran where crippling sanctions have made their currency collapse in value. If enough "legitimate" users in Iran start to use the system, then the Bitcoin genie could forever be out of the bottle, threatening not only just bank profits, but also the monetary authority of sovereign nations.
In disclosure, I bought some BTC last week, basically because I think it is likely that this genie might be coming out of the bottle.
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Agreed. I think the tension between speculators and people in need of an alternate currency is going to play with the price for some time to come. IMO it's possible that BTC could hit it big as a currency of refuge where inflation becomes problematic. There are a number of possibilities, including Japan, China, and EU countries. There was a Bloomberg article that talked about some in Iran buying BTC to avoid devaluation.