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October 09, 2014, 01:42:30 AM |
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^ what guy one post above said.
Welcome to what is known as a "shallow pool" When the few whales in the market move, the whole pool moves. Put the whales in the ocean... Free market forces at play.
It is also a very young and quite immature market. There is no central point to bitcoin. It has a very strict set in stone concept, which offers some very unique properties to create a new financial instrument. You need to think about money and wealth differently.
As OP mentioned, 6 months ago you could buy something for a lot less bitcoin than today. Which is true... To a point, Go before that, prices were 98-115/btc. 12-14 months ago. So if you bought then and just didnt spend your coin, perhaps in this weekend price dip you bought a few more. and other people also bought small chunks of it. Some to use, some to save. Then the price goes up, however, if and when the mainstream adopts bitcoin, it will occur largely in the span of only 3-5 years. So yes perhaps rocky for a few years, perhaps certain disruptions to the economy based on how strong the currency is, but once that period is over and everyone knows how to use bitcoin, demand will kick in, and a new economy will be born... With MOST people not having any more than .0001btc...
In todays terms, OP makes a genuine point, to use dollars, however over the next few years or so, dollars may become less and less attractive as the world spins into hell.
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