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That has happened like half a dozen times before in the history of Bitcoin. Not really a sign of demise.
by pmorici 8y ago
That has happened like half a dozen times before in the history of Bitcoin. Not really a sign of demise.
- SlowRobotAhead 8y agoHow many times before did your mom ask you about it? Precedent isn’t here. But, if you are willing to say what happened in the yesterday will happen tomorrow, I assume you’ve taken a HELOC put on your house and invested in bitcoin - rift?
- pmorici 8y agoYou comment is hard to understand but, I'm not saying the near term price is an indicator of it's long term health I'm saying it historically isn't a prediction of anything.
- arsginionio 8y agoBitcoin has a lot of interesting failure modes if the price falls too far. People will start taking mining hardware offline. This will result in a lot of idle capacity. There will be a number of people capable of pulling off a 51% attack. And if the hash rate falls very quickly, say 50% in a week, the difficulty adjustment will be unable to keep up. This would have all sorts of nasty effects. If the price goes to $4000 it should go to zero. That's assuming that the "investors" will behave sensibly, which is never a safe bet.
- sumedh 8y ago> If the price goes to $4000 it should go to zero Will you short bitcoin then?