Quote from: BTCHosting on October 20, 2011, 05:47:37 PM

Quote from: Mageant on October 19, 2011, 09:41:58 PM

Quote from: Revalin on October 19, 2011, 09:14:54 PM

Quote from: Mageant on October 19, 2011, 07:56:03 PM

I see the current situation as a good opportunity for people to get near early adopter prices for Bitcoin.

... and thus the cycle begins again. This is exactly why I don't like the deflationary model.

The deflationary model has a very important social aspect in that it creates interest for Bitcoin before it becomes actually useful as a medium of exchange.

I like your point.

Yeah, that's pretty smart, I never thought of it like that before.

However Revalin's point is good too. If you look at just about any thread of economic history, the biggest bubble/crash cycles often seem to arise out of circumstances where some prominent and well-known quality of the bubble asset leads to an easy conclusion that the asset's value will substantially appreciate in the long run.

Quote from: BTCHosting on October 20, 2011, 05:47:37 PM

What we really need is to stop is Bitcoin Robberies. Everytime a Hacker get his hands on a large ammount of Bitcoin, the value plummet along with trust and credibility.

A currency not backed up by an army is a very big challange...

+1. I literally suspect that a massive international government crackdown would have been better tolerated by the bitcoin economy (or maybe I'm wrong and this is it Cheesy

)

Also it probably doesn't help that scammers have to unload their coins on the market to realize any benefit.