The fact that there are 300 million Americans who use dollars for their day-to-day transactions creates a floor for the value of dollars.
soon we learn where that floor really is
Topic: [Forbes] The Bitcoin Crash - page 2. (Read 3635 times)
"In contrast, there’s no significant community of people who conduct commerce exclusively (or even primarily) in Bitcions."
He didn't even proof read his article before posting.
agreed
this guy probably has no idea of the fundamentals of bitcoins
he just hears about this so called crash, and agree's with it because its the most likely pattern. (in his mind)
how can he lose telling people about a sinking ship, as it appears to be sinking.
i hope most btc users are smart enough to distinguish this.
After all its only a BLOG therefore this authors OPINION
we need confidence in btc more then anything right now, and articles like this written by people who did minimal research just hurt the community and value.
this guy probably has no idea of the fundamentals of bitcoins
he just hears about this so called crash, and agree's with it because its the most likely pattern. (in his mind)
how can he lose telling people about a sinking ship, as it appears to be sinking.
i hope most btc users are smart enough to distinguish this.
After all its only a BLOG therefore this authors OPINION
we need confidence in btc more then anything right now, and articles like this written by people who did minimal research just hurt the community and value.
Quote
The puzzling thing about Bitcoin, which I pointed out back in April, is that the currency doesn’t seem to have any fundamental value at all.
Then he doesn't appear to have looked into it very much.
The fundamental value of Bitcoin is Bitcoin itself - a decentralized currency that no single entity can seize control over in any (probable) way.
The Bitcoin Crash
Timothy B. Lee
Timothy B. Lee
Quote
Bitcoin, the world’s first peer-to-peer digital currency, has lost almost half of its value against the dollar since the start of August, falling from $13.50 to around $7.
It’s now looking increasingly likely that the record-high price of $32 on June 8 represented the peak of a speculative bubble that is now slowly deflating. The interesting question is: where will the price decline stop?
http://blogs.forbes.com/timothylee/2011/08/07/the-bitcoin-crash/ It’s now looking increasingly likely that the record-high price of $32 on June 8 represented the peak of a speculative bubble that is now slowly deflating. The interesting question is: where will the price decline stop?
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