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The interesting thing is that unlike in July where the price crashed, this time the price is completely stable despite the fact that it's a much bigger clusterf

The interesting thing is that unlike in July where the price crashed, this time the price is completely stable despite the fact that it's a much bigger clusterfuck. It seems like perhaps the "you can't bet against the apocalypse" rule is being applied.

companyhen 9y ago
There's still over a month to go until this one happens. I think the press about it will build up in the coming weeks like it did with the last one. I think it will be fine, personally. So many people support it now, even if it decreases a bit in value there will still be the community even if they have different opinions. The market will decide.
partiallypro 9y ago
Probably complacency, and people refusing to sell because they think Bitcoin always recovers. The same happens in stocks.
tfha 9y ago
As the deadline gets closer, more companies are reconsidering their support. It's too early to see how much wind comes out of the sails, but much like earlier attempted Bitcoin hardforks, the support appears to have been greatly overstated. These companies have definitely lost users due to their support of 2x, and that hasn't gone unnoticed.
loceng 9y ago
That's because there's enough people with enough money now willing to buy the crypto-assets at the higher price. They all understand the game they're playing. This batch of speculators just need to keep the value stable long enough that others will start to trust it could be a good way to profit, and then those people putting in money now maintaining the price will sell at a higher price.. This is the cycle that will have existed since inception.
nullc 9y ago
> fact that it's a much bigger clusterfuck Why is it that people so quickly jump to "markets be crazy" as an explanation rather than "perhaps I don't understand the situation and have been sold an exaggerated version by people who profit from clicks or chaos"?
- Myrmornis 9y ago
  Because it’s more exciting / entertaining. Remember that for most people following these discussions is basically a hobby they do in their free time.
FeepingCreature 9y ago
The rule only applies to global apocalypses. You can easily bet against local apocalypses. You can't trade, on a market, on the market ceasing to exist. You can of course trade on other markets against the first market, if they're connected.

companyhen 9y ago

There's still over a month to go until this one happens. I think the press about it will build up in the coming weeks like it did with the last one. I think it will be fine, personally. So many people support it now, even if it decreases a bit in value there will still be the community even if they have different opinions. The market will decide.

partiallypro 9y ago

Probably complacency, and people refusing to sell because they think Bitcoin always recovers. The same happens in stocks.

tfha 9y ago

As the deadline gets closer, more companies are reconsidering their support. It's too early to see how much wind comes out of the sails, but much like earlier attempted Bitcoin hardforks, the support appears to have been greatly overstated. These companies have definitely lost users due to their support of 2x, and that hasn't gone unnoticed.

loceng 9y ago

That's because there's enough people with enough money now willing to buy the crypto-assets at the higher price. They all understand the game they're playing. This batch of speculators just need to keep the value stable long enough that others will start to trust it could be a good way to profit, and then those people putting in money now maintaining the price will sell at a higher price.. This is the cycle that will have existed since inception.

nullc 9y ago

> fact that it's a much bigger clusterfuck Why is it that people so quickly jump to "markets be crazy" as an explanation rather than "perhaps I don't understand the situation and have been sold an exaggerated version by people who profit from clicks or chaos"?

Myrmornis 9y ago
Because it’s more exciting / entertaining. Remember that for most people following these discussions is basically a hobby they do in their free time.

FeepingCreature 9y ago

The rule only applies to global apocalypses. You can easily bet against local apocalypses. You can't trade, on a market, on the market ceasing to exist. You can of course trade on other markets against the first market, if they're connected.