look on the bright side, its still worth twice as much as a dollar 
Won't be so after this weekend. There are fundamental problems in the Bitcoin economic philosophy that needs to be checked. 
Topic: Media attention with the price drop - page 2. (Read 3260 times)
look on the bright side, its still worth twice as much as a dollar
its still the most efficient way of sending money internationally
God, the stupidity. There is nothing efficient about losing money between the time you convert dollars into BTC and the time you get your goods and services. It is an extremely inefficient way to preserve value.
I must be stupid because your going to have to explain the losing money part. how will you lose money in that time? after you send the money the other person has it, how can you lose on it? same as with normal money, just that the other person gets it straight away and no one pays a fee. try that with paypal or a bank check
Right -- since it's more or less an instantaneous transfer, if you're basing the value on standard currency (like USD), if both parties agree upon a price, then the transfer happens, as long as the BTC is EXPEDIENTLY converted to USD or whatever other currency, no value is lost.
You stay away from something that has crashed like this. There is a reason it has crashed.
You know that in 1983, the video game market completely crashed? It went from 3 billions $ to 100 millions$ in 1985. It's a 97% value drop. The crash allowed an opportunistic Nintendo to enter the market and completely dominate it. Check the state of the video game market after that...
Crash is an opportunity for newcomers. The only people who lose are the ones who were in the market during the crash. All those who where not in it didn't lost a single dime. They might even find the market interesting, because of its low value, it let those newcomers to come in and try things at a low risk.
Yes, from 32 dollars to 2 dollars is sure to attract lots of new blood.
Some of you need to get a grip on reality.
You stay away from something that has crashed like this. There is a reason it has crashed.
You know that in 1983, the video game market completely crashed? It went from 3 billions $ to 100 millions$ in 1985. It's a 97% value drop. The crash allowed an opportunistic Nintendo to enter the market and completely dominate it. Check the state of the video game market after that...
Crash is an opportunity for newcomers. The only people who lose are the ones who were in the market during the crash. All those who where not in it didn't lost a single dime. They might even find the market interesting, because of its low value, it let those newcomers to come in and try things at a low risk.
its still the most efficient way of sending money internationally
God, the stupidity. There is nothing efficient about losing money between the time you convert dollars into BTC and the time you get your goods and services. It is an extremely inefficient way to preserve value.
I must be stupid because your going to have to explain the losing money part. how will you lose money in that time? after you send the money the other person has it, how can you lose on it? same as with normal money, just that the other person gets it straight away and no one pays a fee. try that with paypal or a bank check
its still the most efficient way of sending money internationally
God, the stupidity. There is nothing efficient about losing money between the time you convert dollars into BTC and the time you get your goods and services. It is an extremely inefficient way to preserve value.
You guys are still too optimistic. When people read reports about how the price crashed from $30 to as low as $1 dollar, people want to run away from this, not start buying into it. Consumers are not stupid, they know about catching falling knives.
You stay away from something that has crashed like this. There is a reason it has crashed.
You stay away from something that has crashed like this. There is a reason it has crashed.
You see it all wrong!
It is a clear signal that something that is now worth $2 has the potential to be worth $30.
That's a clear -Buy-, i'd say.
I have a feeling that for the recent drop, those that can or will run away has already run away. There isn't much room to fall anyway
for myself I dont care what the value of it is, its still a great idea that has to happen in one way or another, its still the most efficient way of sending money internationally, among other things, and in the meantime its still a great market for speculating, better then ever it seems to me
You guys are still too optimistic. When people read reports about how the price crashed from $30 to as low as $1 dollar, people want to run away from this, not start buying into it. Consumers are not stupid, they know about catching falling knives.
You stay away from something that has crashed like this. There is a reason it has crashed.
You stay away from something that has crashed like this. There is a reason it has crashed.
Well.. it wasn't the first time media said bitcoin crashed.. This is something like third or fourth time since the mtgox crash. Followed by mybitcoin crash.. and so on..
Nontheless, there are plenty of negative coverage about bitcoin that are copy pasted all over the net once again. I hope it does grab some people's interest.
Nontheless, there are plenty of negative coverage about bitcoin that are copy pasted all over the net once again. I hope it does grab some people's interest.
Right and notice how the price has continued to fall despite the media attention. Call me crazy but I've got this hunch that the media attention we've been getting since June isn't bringing enough new people in to stop it from crashing, or, rather, continuing to crash.
Well.. it wasn't the first time media said bitcoin crashed.. This is something like third or fourth time since the mtgox crash. Followed by mybitcoin crash.. and so on..
Nontheless, there are plenty of negative coverage about bitcoin that are copy pasted all over the net once again. I hope it does grab some people's interest.
Nontheless, there are plenty of negative coverage about bitcoin that are copy pasted all over the net once again. I hope it does grab some people's interest.
Today and yesterday I saw a lot of reports about the price drop. It appeared on slashdot, arstechnica, ieee, all over twitter, etc.
Could this mean that new people will be entering the market and drive prices up (specially if they think that right now is a buying opportunity)? I wasn't here around June when the media exploded with bitcoin news so I am not sure if this resembles what happened at that time...
Could this mean that new people will be entering the market and drive prices up (specially if they think that right now is a buying opportunity)? I wasn't here around June when the media exploded with bitcoin news so I am not sure if this resembles what happened at that time...
There's even a nice article in the Guardian
http://www.guardian.co.uk/technology/2011/oct/18/bitcoin-value-crash-cryptocurrency?newsfeed=true
You can't get more mainstream than that.
Perhaps it piqued a few people interest to look at bitcoin - I know I first became interested after the mt.gox crash. Bad news is sometimes the only way people hear about something.
Today and yesterday I saw a lot of reports about the price drop. It appeared on slashdot, arstechnica, ieee, all over twitter, etc.
Could this mean that new people will be entering the market and drive prices up (specially if they think that right now is a buying opportunity)? I wasn't here around June when the media exploded with bitcoin news so I am not sure if this resembles what happened at that time...
Could this mean that new people will be entering the market and drive prices up (specially if they think that right now is a buying opportunity)? I wasn't here around June when the media exploded with bitcoin news so I am not sure if this resembles what happened at that time...
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