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Topic: 2013-02-15 forbes.com - Why I'm Not Ready To Sell My Bitcoins (Read 1207 times)

legendary
Activity: 1246
Merit: 1016
Strength in numbers
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The fact that people were still willing to buy after seeing Bitcoins lose 90 percent of their value suggested to me that the currency was likely to have long-term staying power.

I guess I get where he's coming from, but it's sort of silly, and the equivalent statement, "People were still selling them for 90% less than previously" isn't so optimistic sounding.
legendary
Activity: 2114
Merit: 1031
So he's not ready to sell them.  Is he ready to buy them?
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
shut up and take their money  Wink

we need to lighten their load.  Cheesy
legendary
Activity: 1288
Merit: 1080
Quote
Such a company would have venture capitalists beating down its doors

Footage of venture capitalists going to invest in bitcoin:



 Cheesy

 Grin Grin Grin Grin
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
Quote
Such a company would have venture capitalists beating down its doors

Footage of venture capitalists going to invest in bitcoin:



 Cheesy
hero member
Activity: 588
Merit: 500
A public admission of error is something not often seen, and praiseworthy.  Hopefully the first of several retractions from people who have unfairly dismissed Bitcoin in past writings.

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In August 2011 I predicted that the Bitcoin economy would gradually deflate until it had dwindled away to nothing.

Obviously I was wrong.

legendary
Activity: 1400
Merit: 1013
All of a sudden I just had a flashback to an article by Falkvinge...
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
Ha!, Mr. Lee has changed his tune considerably ... and scored himself a gig at Forbes.

(Note to self: remember to send a thank-you to Mr. Forbes.)
legendary
Activity: 1078
Merit: 1003
Very good article, and surprisingly not written by Jon  Cheesy
legendary
Activity: 1092
Merit: 1001
Quote
Why I'm Not Ready To Sell My Bitcoins

Timothy B. Lee
2013-02-15

http://www.forbes.com/sites/timothylee/2013/02/14/why-i-dont-think-bitcoins-big-price-rise-is-another-bubble/


...
So is the new Bitcoin price rise a bubble? I don’t think so. Nothing like Bitcoin has ever existed before, so it’s not clear how to compute a “fundamental” value for it.
...

But Bitcoin is a sufficiently novel technology, with security and privacy features traditional financial networks can’t match, that it seems likely that people will find something cool to do with it. And when they do, they’ll need to get their hands on a lot of Bitcoins. So I’m not ready to sell mine yet.
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