Re:The DAO, the Hack, the Soft Fork and the Hard Fork
by jnbiche on Friday July 21, 2017 @09:36AM
(#14820400)
> Have we even seen a single cycle yet?
I mean, just look at the data. Yes, there have been -- without any doubt! -- at least 3 cycles that I recall. And by cycle I mean Bitcoin losing at least 50% of its market capitalization suddenly (bust!) and then slowing crawling back up, then quickly shooting up (boom!). No one, not even Bitcoin's biggest detractors, doubts that it's been through numerous boom and bust cycles (and that's not even a good thing, for a store of value).
Re:The DAO, the Hack, the Soft Fork and the Hard Fork
by problems on Friday July 21, 2017 @09:45AM
(#14820472)
Definitely, we've seen several cycles - to name 2 I watched more closely, the $30 peak and the $1000 peak were both followed by extended months of much lower prices. After which the value tends to average out higher than it began, but remain quite distant from the peak for quite some time. This I call a cycle.
Have we even seen a single cycle yet? Bitcoin hit the mainstream, what, five years ago? The value certainly hasn't "crept up"; it's growing exponentially like every bubble in history.