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Author Topic: Why the crash is a boon for the bitcoin economy  (Read 335 times)
jackbenimble
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April 12, 2013, 08:17:19 PM
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For the "true believers" in Bitcoin that bought in under $10 (and saw the obvious bubble) this was a major liquidity event. Those people have tended to be techies that are willing to take big risks... aka entrepreneurs! That liquidity is going to fund a whole new slew of websites, apps, and services that will help the economy grow long term. Here we go...
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niko
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April 12, 2013, 08:23:30 PM
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For the "true believers" in Bitcoin that bought in under $10 (and saw the obvious bubble) this was a major liquidity event. Those people have tended to be techies that are willing to take big risks... aka entrepreneurs! That liquidity is going to fund a whole new slew of websites, apps, and services that will help the economy grow long term. Here we go...
Something like that. However, those early adopters who did profit by selling some of their coins during the bubble, profitted at the expense of newcomers. Burnt, disappointed, crying newcomers. Lots of them - just look at the USD volume in recent months. Overall, was this a good or a bad thing, then?  Will people learn? If they do, will the next wave have to learn by themselves?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
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April 12, 2013, 08:37:08 PM
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For the "true believers" in Bitcoin that bought in under $10 (and saw the obvious bubble) this was a major liquidity event. Those people have tended to be techies that are willing to take big risks... aka entrepreneurs! That liquidity is going to fund a whole new slew of websites, apps, and services that will help the economy grow long term. Here we go...

Totally agreed.
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April 12, 2013, 08:42:16 PM
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Agreed. If the coin or its cousins are going where I think they are going, this crash , and the next one and the one after that only demonstrate the resilience of the blockchain and are irrelevant to the ultimate goal.
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