Comments on: Silk what? Bitcoin still going strong! http://v1.ripper234.com/p/silk-what-bitcoin-still-going-strong/ Stuff Ron Gross Finds Interesting Sun, 02 Aug 2015 11:03:35 +0000 hourly 1 https://wordpress.org/?v=4.5.3 By: bob http://v1.ripper234.com/p/silk-what-bitcoin-still-going-strong/comment-page-1/#comment-12802 Thu, 10 Oct 2013 07:44:55 +0000 http://v1.ripper234.com/?p=1933#comment-12802 I think even more significant is to look at the graph, at what you referred to as the October 2nd “big panic”. Yes, the price temporarily dropped, but the panics are becoming smaller and the recoveries are becoming faster, as bitcoin goes through this “price discovery” phase.

The price got ahead of its “true value” earlier this year, as people rushed into Bitcoins, bidding the price up, and paying a premium. Now, as bitcoin’s true value becomes greater, as more merchants accept it, as more tools become available, and as it becomes more inevitable that Bitcoin will be around for a while, the current premium over the “true value” becomes less and less. The drops on negative news are smaller and the bounce-back is swifter.

]]> By: ponetium.wordpress.com/ http://v1.ripper234.com/p/silk-what-bitcoin-still-going-strong/comment-page-1/#comment-12783 Wed, 09 Oct 2013 20:28:00 +0000 http://v1.ripper234.com/?p=1933#comment-12783 Great post!
“Bitcoin is about drugs just as much as the U.S Dollar is about drugs” – Well said!

]]>