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Title: Is a lower price now better for bitcoin in the future? Post by: shmadz on February 22, 2014, 03:07:02 AM Sorry to post new topic. I usually just drop random thoughts into the wall observer, but I can no longer keep up with that thread. It has beaten me to the ground, so I ask my question here:
Is a lower price now better for bitcoin in the future? The lower the price, the more it can stay under the radar. Which means more time while some people try to figure out how to control and regulate (NY DFS says sometime later this year? maybe?) A lower price simply buys time to further entrench the tenets of bitcoin before the impending attacks. I think that a period of time similar to the long, painful wait after the first 30 dollar "crash" would be beneficial in the long run. Bitcoin is not ready for prime-time yet, perhaps not for many years. The idea that a distributed consensus of transactions is a better money system than what we currently have is an idea that is "too big to fail". The alternative is similar to a boot stomping on a human face, forever. I welcome your speculative thoughts on what effect a months-long bear market might have for the future of bitcoin. |