A huge rise in values seems good, if you're used to looking at stock charts. But for a virtual currency that has no mechanism for adjusting supply relative to demand, it can be a kiss of death. As Joe Weisenthal points out, bitcoins are now undergoing massive hyperdeflation. People are hoarding bitcoins rather than spending them on stuff. Which makes sense. If you think your bitcoins will be worth twice as much next month as they are now, why would you spend them on online-dating services?
No, it simply means you will spend half as many on the on-line dating service you would have purchased anyway ... who doesn't like 50% off?!
Real people don't want their money to double in value in a month –
I wonder how many "real people" they actually asked to arrived at this amazingly stupid conclusion? Beggars belief how silly people behave when their world-view is inverted.
