2013-04-11 Silicon Valley VCs Place Their Bets (Techcrunch)

[simplydt]

Unfazed By Bitcoin’s Wild Swings And Mysterious Origins, Silicon Valley VCs Place Their Bets

http://techcrunch.com/2013/04/11/bitcoin/

Bitcoin’s record highs and the ensuring surge in hacking attempts and thefts may be grabbing headlines. However, beneath the chaos, Silicon Valley’s best-known venture firms are finally starting to make real bets around the crypto-currency.

[cypherdoc]

great article.

the selloff is the height of stupidity.

[teknomunk]

Excellent article   Comments littered with the usual naysayers

[sunnankar]

great article.

the selloff is the height of stupidity.

Or just a way for VCs, with the assistance of MtGox and Coinlab, to 'shake the tree' and see how many bitcoins fall out.

[TraderTimm]

The ones naysaying bitcoin will also be the same complainers when we're over $100 again.

It takes a lot of guts to have your own opinion, especially one that is counter to everything you've learned about the society you live in. They're just nodding along because the rest of the bobbleheads are.

We get some of the same mental-reinforcement here in the form of "Bitcoin will never go down" kind of arguments, but at least in that case the market is the ultimate arbiter.