

Why I'm Putting All My Savings Into Bitcoin [2011] - a3voices
http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin

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na85
The scary part of the bitcoin bubble (and it _is_ a bubble) is that most of
these people putting a lot of money into BTC are not going to be able to get
their money back out in the event of a market downturn.

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a3voices
The price has two main factors: exponential growth in its adoption, and a
speculative bubble on top of that. As long as the growth continues, everyone
who invests in it will make plenty of money in the long run. The bubble has
already 'popped' 4 times or so in its history.

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msie
So how much is the author's BTC savings worth now?

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qbrass
From the article: "As of midnight UTC on May 29, 2011, the rate is USD 8,30
per bitcoin."

Assuming he bought at that price, it's worth roughly 120 times as much when it
hit $1000/BTC.

