
Do you think Bitcoin will recover? - teslacar
50% off the highs now<p>I bought at 11.000 :(
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intrasight
I think not. It made sense as a unit of exchange. Stripe dropping it this week
is telling: "Bitcoin has evolved to become better-suited to being an asset
than being a means of exchange."

What type of "asset" is Bitcoin? Does its value just reflect the cost of the
electricity that went into creating the coins? If so, then we'd have a very
different price dynamic. I'm calling it an irrational bubble.

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SeaDude
I don't think it will.

* Bitcoin Cash and others have grabbed its market share through impersonation * Other coins have faster transactions with lower fees * Other algorithms have opaque blockchain for better anonymity.

Bitcoin was first through the door. They got shot.

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matchmike1313
I think so, there is a lot of negative sentiment driving the price down at the
moment I believe. But after tax season and some governments around the world
making decisions on exchanges and taxes I think we will see good growth upward
again.

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andirk
Governments can sway the immediate price by saying "We're outlawing bitcoin!"
Good luck with that, btw. But they have little effect on the technology. It's
supposed to be subversive, and every time Visa or Chase or governments or
banks talk poorly about it, it means it's working as planned.

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matchmike1313
Couldn't agree more!

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blacksqr
You learned a valuable lesson in investing. Consider yourself wealthy in
experience.

~~~
andirk
What about people who invested in real estate in 2008 via banks, lax
regulations, and trickery? What was the lesson there?

~~~
blacksqr
If you don't know who the fool in the market is, it's you.

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AnimalMuppet
Recover, as in ever be above 11,000 again? Quite plausible, though I am far
from certain.

Recover, as in go above 11,000 _and stay there_? It might... but I doubt it.

