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Author Topic: To the recent panickers  (Read 1165 times)
gigitrix
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June 11, 2011, 12:58:31 AM
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Does anything look out of the ordinary in that picture? Or is it just business as usual? It's interesting that the perception of profit and loss is extremely different now, even though it's only the nominal number that has changed. You feel like you are risking something more valuable to you, so you panic.

It's an interesting insight into how bitcoins have grown though. This normal fluctuation was actually covered in [dailytech](http://www.dailytech.com/Digital+Black+Friday+First+Bitcoin+Depression+Hits/article21877.htm). Perhaps it's good that people now see them for the money equivalent they really are and start to freak out when the value changes. Perhaps investors will get savvy to this and start correcting the corrections quicker. Perhaps the bumps will be smoothed.
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June 11, 2011, 01:08:58 AM
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Yet another amazing attribute of this technology - it teaches people that long-term saving, not short-term speculating, is valuable.
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June 11, 2011, 01:56:08 AM
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Hah, you aren't far wrong there... the forum drama was rather entertaining though. How much was real panic and how much was attempts to move the market, we'll never know, but most of it seemed blatently fabricated... oh well, free markets and that. Hopefully bitcoin can become less volatile in time so it's not an investor's plaything in the hour to hour value...
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June 11, 2011, 02:11:41 AM
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Does anything look out of the ordinary in that picture?

To someone who does not know when it would be appropriate to display a chart using the logarithmic scale, the answer would probably be "Yes". I bet the panickers were looking at the linear chart, which would have been inappropriate because the price has muliplied several times in the past 2 months.
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