The dotcom bubble was never going to kill the internet, it was just going to result in billions of notional capital going up in smoke resulting in economic devastation which in turn lead to the governments and central banks rigging the game to create a another credit bubble to 'save' the economy from the dotcom crash. This time the bubble was based upon real estate.


I should probably be more directing this reply more at those who state that just because the dotcom bubble never killed the internet, it was an inconsequential blip in the system. But the point of this thread seemed to be to point out that Bitcoin is in the grip of a mania, and the majority of those invested or involved with Bitcoin, seem to be under the spell of the mania. When the tulip mania died, as many of the Bitcoin bullmarket zealots have pointed out, the Tulip industry never died out, but vast (projected) fortunes were lost and many investors were forced to rethink their entire paradigm. The fact that tulips have turned into a multi-million dollar global industry some 350 years down the line, I imagine would be quite irrelevant to any Dutch investor who sold his house next to the palace to get in on some hot tulip action.

This thread was started before Bitcoin went up £175, down to £70, and now sits at £80. This makes damn ugly viewing to all but the most idiotic (hey, just another great buying opportunity type) investor. I wouldn't in a million years put any money into Bitcoins right now if I needed to hold onto them for more than a few hours and probably the risk averse majority are thinking the same. So unless the master manipulators (whoever they may be) have other ideas, I would state that the bubble has popped for now and Bitcoin needs to find stability at much lower prices. This kind of makes this thread both relevant, and prescient, not to mention those who have attacked the OP look like the fools that they were always sooner rather than later, going to reveal themselves to be.