I view Bitcoin "mining" as that relief valve, but it is a somewhat static element and may not be sufficient to offload enough during a large enough inflow. If that were to happen with the nascent Bitcoin environment, the stigma that would be associated with such forms of currency could set them back quite a ways. The whole concept of crypto-currency is pretty interesting. Currencies are only worth what the masses perceive them to be worth. I think if someone can keep their bitcoins safe, there's a pretty good opportunity in bitcoin mining during the short term. The value of bitcoins is going to rise as the difficulty level rises in mining them. This is where the math comes in. Bitcoin was founded in 2008 and there will ultimately be only 21 million Bitcoin ever mined. Today we are approaching the 80% mark, the remaining 20% will take years to mine, and the “mining” gets more difficult and slow as we go. If you later learn that bitcoin is an good monetary system on par with precious metals, you will see the potential damage a post like yours could cause to the adoption of bitcoin. Please spend some time in the bitcoin wiki, forums, and #bitcoin-discussion and #bitcoin-dev channels on freenode and learn. March 29, 2011 at 12:26 PM Bitcoin’s price has been following a new uptrend line since it bottomed. This is the heavy right upsloping arrow on the chart below. Note how that line with the former downtrend line formed an X? If prices gravitate to that new uptrend line on the way out, then prices will be at or near the prior $20k high by about the end of this month.
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