
Why Bitcoin’s $1,000 Value Doesn’t Matter - mnmlsm
https://www.technologyreview.com/s/603295/why-bitcoins-1000-value-doesnt-matter/?utm_campaign=internal&utm_medium=homepage&utm_source=top-stories_4&set=603305
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harwoodleon
There seems to be a lot of negative press around the rise in value of Bitcoin.
The FT's article - comparing the market cap of Bitcoin to the trillions of
dollars traded in fiat currencies - was shameful.

Bitcoin is not a country it is a movement, that has a technology product at
it's core - to this end it should be celebrated, not derided as not as big as
USD. Especially when the big currencies are being devalued daily, facing so
much pressure that they have to use QE to stay viable!

China is a big factor in this and bitcoin must seem like a fun game to play
for those countries with vast USD reserves and deep technology resources to
match.

I hope that people embrace the individual and open source nature, rather than
just use a shallow 'currency' comparison with established systems.

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cableshaft
This has happened every time Bitcoin has had a significant uptick, and these
same people patted themselves on the back as it rode its way back down. But in
the meantime, if they had bought while it was low and sold on each of the
upticks, they probably would have made plenty of money by now. But since they
aren't willing to get in on that even a little bit, they'll just hate on
everyone else to make them feel better.

This is how people react to anything that finds success that they aren't also
involved in, really. This is the best video I could find (quickly) that
explains the effect, although it's mostly stating it in the form of health:
[https://www.youtube.com/watch?v=eOJJzeA70U4](https://www.youtube.com/watch?v=eOJJzeA70U4)

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aaronhoffman
Aaand it's dropping fast. $960 and falling.

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Pica_soO
Rubelrollercoaster riding. Fun for the whole family - minus the house.

