nanobrain
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October 01, 2014, 06:48:22 AM



Nanobrain,  I seem to remember posts like these before the last two bubbles.  The same logic was there, that it was harder to go from $X.XX to $XXX.00 and so on.  

But Bitcoin is the honey badger of money.  Bitcoin does not care about what is logical or even what makes sense.  It rises when it wants to in mind blowing ways.  I don't believe we will see a "mini-bubble"  it will be a bubble beyond our belief.  I believe, based mostly on knowing how humans work and the greed at play, that when the price beings to rise there will be people that have been waiting on the sidelines because they were unsure of what was going to happen, panic buying.  With the panic will come hysteria.  As the thousands of newbies that have not yet experienced a bubble yet see how quickly the price can rise watch they will suddenly throw caution to the wind and throw in what they can as well.  It will be crazy.  It will make no sense and Bitcoin will probably be overvalued at that point.  

All that said, TO THE MOON.  Smiley

Hiya hon,
I know what you mean but surely the reasons you posted a bit later down the page show the resistance to wider adoption is far greater than you think.  Gox is still fresh in the public's mind and its pretty clear the last ATH was mostly down to Mark and his bots trying to bail himself out of sinking ship.

At least the thesis posited by 'Post-Cosmic' has some logic behind it.

I find statements like Bitcoin is the honey badger of money to be pretty hollow.  Everything you say above is based on people getting greedy and I suspect, you selling and making some money.  Every bubble there are a big pile of losers who end up with over-priced assets as the price shrinks back -- its not good for any economy (BTC, housing, whatever).  And each time this process happens those people tell their friends and family etc.

This obsession with bubbles rather than slow steady growth must surely counter-productive.  The more price stability we achieve the more people are going to actually use BTC and personally a much narrower range of trading would make me far happier.