don't forget Jed's laptop was the one that got hacked revealing the admin pwd leading to the mtgox plunge to $0.001 over a period of about 15 min back in June 2011.
i tried to scrape up the video of that plunge but no success. i remember being right there when it happened. one of the most dramatic things i've ever seen realtime.
I watched that live too. I had only started really diving into bitcoin a few weeks prior; didn't own any yet. I recall when the price quickly rebounded to ~$17 and held after that, I was sufficiently impressed with bitcoin's resiliency to buy a little.
And then promptly ground down to $1.95 by November. Those were Bitcoin's darkest times.
Yes indeed. Down 90%+ on my first purchases. It was really annoying how so many people failed to see the long-term dynamic... (almost like looking at the spec forum right now...heh).
History does tend to go in repeating cycles.
Does that mean the next BTC low will be below $120....? Perhaps not this time.