There’s also a disturbing cultishness to the Bitcoin community, where everyone is as bullish as can be. “Someone is going to get rich this year,” Peter Vessenes, the executive director of Bitcoin, said in his opening keynote. The Bitcoin documentary that was teased at the conference is called The Rise and Rise of Bitcoin. Everyone was talking about how the price was only going up. Bitcoiner Tuur Demeester, the author of a financial newsletter, gave a talk in which he projected a number of scenarios in which the price of a Bitcoin could exceed $1,000, such as hedge funds committing 1 percent of their portfolios. “That’s why I think the risk-reward ratio is extraordinary,” he said. “Everyone should own at least a few Bitcoins.” He did not discuss any scenarios which might cause the price to fall.
From Verge. “Because it’s math. You can’t kill math” (Joseph)