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