Bitcoin Forum

Ever thought, why and how BTC skyrocketed into price level of thousands of dollars? here´s how:

https://www.youtube.com/watch?v=awU8c8fN2LI

Any person with critical thinking gets good value from here, any person with sense of humour, gets a good laugh. win-win.

And the video clearly shows that was the Mt Gox exchange at the time.  Gox was indeed a heavily manipulated market.  That's well documented.  All this illustrates is that when too much centralisation occurs, things are easily corrupted.  The ecosystem has matured since then.  People don't just rely on a single large exchange anymore.  Also, this video speaks nothing of the true value of Bitcoin, which isn't purely about the price, as most people tend to mistakenly assume.

Yeah, as I noted, these were early years, for several reasons:

a) many people argue, that BTC is not a scheme, bc its 9 years old. This video shows very well, what those years are worth.
b) look closely at price changes / trade volume now. You see many similarities.
c) it also helps to understand, how BTC may have grown to currect price levels.

Anyway I wont stop here, I investigate this lead more.

About true value: ofc it is just price for now. Why else people pay hard money for buying digital zero? To sell it a greater fool...

Numerous reasons:

• A protest against "too big to fail" banks and the current bailout culture
• Hedging against endless quantitative easing and money printing
• Privacy concerns over the increased surveillance of our spending habits
• Some have moved to Bitcoin out of necessity as their national currencies are collapsing
• Censorship resistance, so no one is able to block or reverse your payments
• Your personally identifiable information isn't required, so there's less risk of identify theft
• Freedom and independence, where you have full and total control over your money

All of these are things that should be plainly obvious by this point.  After nine years, you'd think people would have got the message by now.  Just because some short-sighted people are trying to use Bitcoin like a get-rich-quick scheme, doesn't mean it is one.