I didn't say anything about people walking away. Although if markets tank it's almost certain you will see people move out of risky investments and into safer things like gold.
My point, while apparently not clearly spelled out, was that the recent rise in bitcoin is simply from all the media attention. Yes, die hard bit coiners view Bitcoin as a store of wealth but the rest of real world market investors do not. They view it as a purely speculative and very high risk investment. Nothing more. Simply put, people are not going to run in masses to stash money in Bitcoin because people do not trust Bitcoin. That time may certainly come, but that time is not today.
fair point, yes my "walk away" quote refers to general discussion elsewhere..
I totally agree re media attention, and from my perspective the continued media attention and slowly turning positive spin may change this issue tomorrow
It very well could. Exposure brings people into learning about Bitcoin. As they learn more, they can either begin to embrace some of the principles or reject them. Either way, they move from simply looking for a huge ROI by taking a risk in something speculative and into a deeper connection to what Bitcoin really is. When this happens, it will be possible for Bitcoin to be viewed as a safe, store of value possibly even regarded safer than gold. It's all possible but there is still a loooong ways to go.
So as not to get lost of the original point, I don't believe current world market conditions have much affect on Bitcoin at this time and thus is not a good indicator on whether Bitcoin prices rise or fall.
Yes, any investors abandoned ship and chose money, if there was a genuine accident (technical problem, hack their investment, or a problem with the legality cryptoměny). But when the value of the Bitcoin almost half of the April highs, and around 800% appreciation for five months, it may be more new investors coming in than leaving. Bitcoin not only strengthened, not burst like a bubble ... He knows about him a lot more people will increase and the possibility of its use ...