Originally posted on 11/02/2015:

Quote Originally Posted by evo34 View Post
Obviously, I am talking about converting BTC to USD and the reverse on a daily basis. No real bettor wants to do that, nor does he want to be massively long bitcoin; hence, the limited upside of Nitrogen until they start allowing USD balances.
Perhaps many bettors don't want to be "massively" long in bitcoin, but it is a stretch to say that "no real bettor" wants to be long bitcoin. I guess I'd have to know your definition of a "real bettor."

Bitcoin is merely another type of investment. You and others might believe it is too speculative, and certainly it is as compared to many investments (U.S. government bonds for instance). One can never be sure why the value fluctuates, but the common wisdom on the current appreciation over the last several weeks is a combination of Europe exempting bitcoins from the value added tax and Chinese purchasers buying bitcoin as an alternative to gold to combat the devaluation of the Chinese currency. That bodes well for the long term value and appreciation of bitcoins. Considering that along with the fact that gambling is inherently risky in and of itself, I'm willing to take the risk by holding bitcoins. Your mileage may vary...