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If it consistently grows by 100% a month and a 2-day average oscillates within 5-10%, it sounds like a great way to store value. Even recent full-scale fork inc
by oleganza 14y ago
If it consistently grows by 100% a month and a 2-day average oscillates within 5-10%, it sounds like a great way to store value. Even recent full-scale fork incident didn't drop the price more than 30% for a couple of hours and then the price fully recovered in two days.
- grey-area 14y agoI don't believe this bubble is any different to the 2011 bubble in Bitcoin (or indeed stock market bubbles in general). Consistent 100% month-on-month increases would make Bitcoin worth more than the world GDP in short order - that is not sustainable, and clearly indicates a bubble forming to me, particularly in the absence of any fundamental value backing the currency.