loosely speaking, may - november 2013 was also relatively flat, hovering at around $120, then with the closing of the Silk Road & the hearings, the upswing began.
In my view the longer it holds steady the better.
However, I also think it was much "easier" for people to enter bitcoin when the price was $100, although it is less complex to enter now.
$620 (not during a manic run up) may make people think again. Kids, college students etc can probably rustle up $100 to get in the ecosystem but $620?
In my view the longer it holds steady the better.
However, I also think it was much "easier" for people to enter bitcoin when the price was $100, although it is less complex to enter now.
$620 (not during a manic run up) may make people think again. Kids, college students etc can probably rustle up $100 to get in the ecosystem but $620?
Ok, I'm going to reword your story to show the stupidity.
"I think it's easier for people when the price was 10 cents per mBTC. I mean 62 cents is a bit expensive with kids or with collage to pay."
what about:
"I think it's easier for people when the price was $0.00001 per Satoshi. I mean $0.000062 is a bit expensive with kids or with collage to pay."
It's not stupid, it's actually how people think, I think he was illustrating the point. Failing to understand how the average person think is also stupid by itself.
Here an example that was on Reddit's TIL today:
TIL A&W introduced a burger that was bigger and less expensive than McDonald's Quarter Pounder, but it failed because customers assumed 1/3 was less than 1/4.
link: http://jamesjchoi.blogspot.com.br/2014/07/why-third-pounder-hamburger-failed.html
So no matter how you reword it, people will still think that $620 is too expensive and they would buy it if it was $10 or something.
That's why I think the best option would be to shift the decimal point in BTC or else Bitcoin could become another 1/3 burger
