The price dropped $160 (over half its value) in a couple hours....if and when this thing pops all the way, a lot of people are going to be caught with their pants down. Meanwhile the echo chamber here keeps encouraging people to leverage debt to buy bitcoins. The hype machine around here is going to make a lot of people very, very poor.
Let this last crash be a lesson to all of you buying in to get rich quick; chances are you will be left holding the bag.
I can see the man who sells buggy whips saying exactly the same thing...
There is nowhere to buy gas! (because there were no stations yet)
There are no roads! (because they hadn't been paved yet)
Look the cars are stuck in a traffic jam (because they hadn't invented signal lights)
Your horse shit is getting on my tires, move along angry old timer....