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The current price is about $23.90. The previous high in June 2011 was $31.90. No doubt the current rate of increase will lead to a correction. What is differen
by SlipperySlope 14y ago
The current price is about $23.90. The previous high in June 2011 was $31.90. No doubt the current rate of increase will lead to a correction.
What is different now from June 2011, is the growing strength of the still-small bitcoin economy, and the maturing security of bitcoin wallets and exchanges, e.g. the YCombinator funded Coinbase.
- mtgx 14y agoStill the growth is too high. You can't tell me Bitcoin grew 50% just because one small company that does 0.5% of the transactions appeared on the market. I'm pretty sure it will drop under $18 in a month or two.
- SlipperySlope 14y agoIn spite of the inevitable correction of this too-fast run up, it is very encouraging to see the growth of the bitcoin economy. Do you think it is exponential?
- chii 14y agogrowing too fast and leading to a bubble that eventually pop would do more to shatter the confidence in this currency than the good it would do short term...
- gus_massa 14y agoI don't understand how to read your comment: Option A) Be careful, it's just another bubble! Option B) This time is different!
- SlipperySlope 14y agoI meant it both ways. The price is rising too fast - suggesting a bubble. But the underlying bitcoin economy is also much stronger than 18 months ago, so the inevitable correction may not be as deep as last time.