There seems to be a lot of people on here gloating so hopefully they can answer me as the main forums seem to be just people fixated on the rise of bitcoin and how much money they made/will make.

Bitcoin is mainly hoarded by investors looking to make a buck. Buy low, sell high. Like Gold it isn't actually used for commerce by most. All the major bitcoin news sites have a stake in bitcoin prospering and hype the currency. So unbiased information from new investors is hard to find.

Bitcoin is now surging, the fans of bitcoin rejoice and predict it will continue to rise. No one can say why it's rising meaning its all speculation. But they encourage new entrants to buy as the price is now stable and it's only up from here.

Bitcoin is covered in the media and the forums document it all expecting even more demand and increased prices. This is used to tell newbies that if they invest they'll surely get a better price.

But what happens when this hype train ends? If the forums expect higher prices due to media coverage and new people buying what happens when the media coverage dies down and there arent any newbies to sell to lowering demand.

The forums seem very hostile to anyone who asks bluntly is this a bubble which is strange.

Why is bitcoin now worth $1100. What changed since a month ago to assure holders that this isnt a bubble. Why was bitcoin undervalued at $300? Is anyone buying bitcoin not because they think they can make money.

Not a /r/buttcoin poster, just a curious bystander. I just want to know what I'm missing here.