Re:Bitcoin cash mining profits jump
by Animats on Saturday August 19, 2017 @07:23PM
(#15056174)
That's what I thought when Bitcoin crashed from $30 to $17 in 2011. I wrote "There's no revenue model here. All growth comes only from new investors. This is a bubble in its pure form."
What I didn't see was that the use case of getting money out of China was enough to propel Bitcoin to thousands of dollars. When that started, it looked like the People's Bank of China was going to ease up on exchange controls and crack down on Bitcoin. The PBC did neither.
"The mountains are high and the Emperor is far away."
What I didn't see was that the use case of getting money out of China was enough to propel Bitcoin to thousands of dollars. When that started, it looked like the People's Bank of China was going to ease up on exchange controls and crack down on Bitcoin. The PBC did neither.
"The mountains are high and the Emperor is far away."